Nigeria, June 17 -- The Minister of Aviation and Aerospace Development, Festus Keyamo, says Nigeria's proposed aircraft leasing company will enable airlines acquire aircraft through local arrangements and make payments in naira rather than dollars.

Mr Keyamo disclosed this while speaking on the sidelines of the inaugural African Air Transport Conference in Lome, Togo.

The minister said the proposed Nigeria Aircraft Leasing Company would be privately funded but backed by government guarantees designed to attract investors and reduce risks for aircraft owners and financiers.

According to him, the initiative is aimed at helping local airlines overcome one of their biggest challenges - access to aircraft on affordable terms.

"We have also...