**Foreign Financiers Give Aviation a Wide Berth: Why Nigerian Aviation is Yet to Take Off** The Nigerian aviation industry has been unable to attract significant investment from foreign financial institutions and global aircraft lessors over the past decade. Experts say this is due to concerns over governance, unresolved disputes, and weak investor protections. As Minister of Aviation and Aerospace Development, Festus Keyamo, continues his efforts to woo foreign investors, stakeholders warn that the current situation may jeopardize these efforts. Aviation analyst Lanre Bamgbose attributes the reluctance of foreign investors to the governance framework guiding commercial transactions in Nigeria. He points to the recent legal tussles between Arik Air shareholders and the Asset Management Corporation of Nigeria as a prime example of the country's governance challenges. This, he says, sends wrong signals to the global aviation finance community, making it difficult for foreign financiers to invest in Nigeria. Bamgbose also highlights the absence of significant investments by major European and American financial institutions in Nigeria since 2010. He notes that these institutions are aware of the challenges and government policies in the sector and would always be cautious before investing. "As a businessman, I would want to know how commercial transactions are governed in a country before investing," he says. "How are contracts enforced? How are disputes resolved?" The reduced interest of global financiers and lessors has had a ripple effect on the aviation industry in Nigeria, leading to deficits in fleet renewal, aircraft acquisition capacity, and airport and ancillary infrastructure development. This, in turn, has slowed aviation growth across the sub-region, making it difficult for operators to access competitive long-term financing. As a result, they often rely on short-term and higher-cost arrangements, leading to higher ticket prices, reduced operational sustainability, and sectoral instability. Rebuilding investor confidence in the Nigerian aviation industry requires more than just diplomatic engagements and high-level meetings with manufacturers. It demands a fundamental transformation of the governance framework and a commitment to resolving disputes and protecting investors. Unless this happens, the aviation industry in Nigeria may continue to struggle, limiting its growth potential and impacting the country's economic development.