The development came alongside the release of new figures by the International Air Transport Association (IATA), which showed that African airlines recorded a 7.7 per cent increase in air cargo demand in April 2026 compared to the same period in 2025. The growth outpaced the global average of four per cent, highlighting a relatively stronger performance by African carriers despite persistent structural challenges.
However, the gains were tempered by capacity constraints. IATA reported that while demand increased, available cargo capacity among African airlines declined by 9.4 per cent over the same period, underscoring ongoing operational pressures within the sector.
IATA Director-General Willie Walsh attributed the global cargo expansion largely to strong Asia-linked trade flows, but warned that geopolitical tensions continue to disrupt stability across key routes.
“With dedicated freighters carrying much of the growth, air cargo is once again keeping supply chains moving amid trade disruptions,” Walsh said.
He added that the sector remains exposed to external shocks: “The coming months will test how well the sector can absorb continued geopolitical uncertainty and elevated operating costs.”
Walsh also pointed to wider macroeconomic strain, noting that global trade contracted by 2.1 per cent in March after several months of growth. He linked this volatility to persistent geopolitical disruptions, including instability in major transit hubs in the Gulf region, which have reshaped global cargo routing.
Energy costs have added further pressure. According to IATA, jet fuel prices surged 121.1 per cent year-on-year in April, while crude oil prices rose by 77.7 per cent over the same period—figures that continue to weigh heavily on airline operating margins worldwide.
Against this global backdrop, Nigeria moved to strengthen its aviation development agenda through a Letter of Intent signed with the AfDB during a high-level dialogue session in Brazzaville, Congo.
The agreement was concluded by Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, who signed on behalf of the federal government during a meeting with AfDB leadership and regional governors. The engagement forms part of broader discussions around the bank’s newly launched $7 billion Integrated Aviation Transformation Programme for Africa (IATP).
Keyamo, who has also been appointed as Africa’s Aviation Champion for the programme, described the role as a strategic responsibility aimed at accelerating aviation development across the continent.
“The Minister unveiled President Bola Tinubu’s Renewed Hope Agenda for the aviation sector and rolled out the potential of the sector, especially the newly approved Nigeria Aircraft Leasing Company, and why the bank should mobilise capital to support it,” a statement from his office noted.
He highlighted ongoing reforms in Nigeria designed to strengthen investor confidence in the sector, including the domestication of the Cape Town Convention, updates to the Irrevocable Deregistration and Export Request Authorisation (IDERA) framework, and adjustments to aviation insurance regulations.
According to the statement, AfDB leadership expressed support for the initiative and pledged commitment to its implementation both in Nigeria and across other African markets.
The minister also presented Nigeria’s Country Compact for aviation development during the event, positioning the country as a potential model for regional aviation reform and investment coordination.
Speaking after the signing, Keyamo said the appointment places Nigeria at the forefront of what he described as a continental aviation renewal effort aimed at unlocking Africa’s air transport potential.
He said the initiative represents “a historic mandate to drive the long-awaited transformation of Africa’s aviation sector and accelerate the continent’s integration into the global air transport economy.”