Meet 7 founders of local airlines in Nigeria’s $1.7billion aviation industry

Updated Monday 3 March 2025 10:30

In contrast to other African countries, Nigeria's aviation industry has not yet realized its full potential, despite being a vital component of the nation's economy and transportation network.

According to the International Air Transport Association (IATA), Africa's economy depends on aviation for $63 billion. However, South Africa's aviation business contributes $12 billion, or 3.5% of GDP, whereas Nigeria's aviation sector only contributes a meager $1.7 billion, or 0.4% of the country's GDP.

Nigeria's aviation industry has enormous potential, with 20 airports, 23 operating domestic airlines, and 22 international carriers. By immediately linking Nigeria to important worldwide business centers like London, New York, Johannesburg, Dubai, and Paris, it has facilitated international trade and tourism and produced over 241,000 employment.

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Additionally, Nigeria’s attainment of the FAA International Aviation Safety Assessment (IASA) Category One Certification allows its carriers to fly directly into the United States, a significant milestone for the sector.

Passenger and aircraft traffic has consistently risen by an average of 10% annually, with Murtala Muhammed International Airport (MMIA) in Lagos handling over 60% of the country’s total air traffic.

Within this sector are owners of domestic airlines of Nigerian descent. These individuals have invested private capital and helped to a certain extent provide job opportunities and new pathways for growth in the industry. Take a look at some of these personalities as spotlighted by Nairametrics.

Allen Ifechukwu Onyema -Founder Air Peace

Nigerian lawyer and businessman Allen Ifechukwu Onyema established Air Peace in 2013 with the goal of giving young Nigerians access to economic possibilities. His goal was to establish a successful airline that would cater to both local and foreign markets, and Air Peace has developed into one of the most well-known in the nation over time.

With the addition of Boeing 737s, Boeing 777s, Dornier 328s, Embraer 145s, Embraer 195-E2s, and Airbus 320s, the airline's fleet has grown considerably. Air Peace's expanding network, which currently includes flights to foreign locations like Accra, Ghana, Sharjah, and Johannesburg, South Africa, has been made possible by this wide variety of aircraft.

Onyema’s commitment to expanding the airline’s reach has positioned Air Peace as a key player in West African aviation, offering affordable air travel options while creating jobs and boosting the local economy.

Jacky Hathiramani- Founder Dana Air

Born in Jos, Plateau state, Nigeria, Jacky Hathiramani is the Group Managing Director/CEO of Dana Group of Companies and the original Managing Director/CEO of Dana Airlines. He is a board member of numerous prestigious firms and PLCs and graduated with a degree in Business Administration from the European Business School of London.

In 1998, Jacky was selected as an Executive Director of Ashmina Limited, where he began his career in manufacturing. He oversaw the company's significant business transformation, which resulted in his promotion to Group Managing Director.

He has been responsible for the strategic development and expansion of the Group, which has evolved into a multi-billion dollar conglomerate with interests in key sectors of the Nigerian economy, including transportation, steel, and aviation. Jacky’s drive and passion for quality service led to the establishment of Dana Air in 2006.

The introduction of the airline and its redefining role in the aviation industry, offering world-class customer and in-flight service, with an on-time performance that is still unrivaled, earned Jacky multiple CEO of the Year awards.

Jacky’s superior business performance and innovations have enabled the company to achieve commendable market share and recognition as one of Nigeria’s Most Respected Companies.