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SEVEN FOUNDERS OF LOCAL AIRLINES IN NIGERIA’S $1.7B AVIATION INDUSTRY
The Nigerian aviation sector, despite being a critical element in the country’s transportation system and economy, has not reached its full potential compared to other African nations.
The International Air Transport Association (IATA) estimates that aviation supports $63 billion in economic activity across Africa. However, Nigeria’s aviation industry contributes a modest $1.7 billion to GDP, representing 0.4% of the national economy—far behind South Africa’s aviation sector, which contributes $12 billion, or 3.5% of GDP.
With 20 airports, 23 active domestic airlines, and operations by 22 foreign carriers, Nigeria’s aviation sector holds immense potential. It has created over 241,000 jobs and facilitated international trade and tourism, connecting Nigeria directly to major global business hubs such as London, New York, Johannesburg, Dubai, and Paris. 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
Allen Ifechukwu Onyema, a Nigerian lawyer and entrepreneur, founded Air Peace in 2013 to create economic opportunities for Nigerian youth. His vision was to build a thriving airline that would serve both domestic and international markets, and over the years, Air Peace has grown into one of the country’s most prominent carriers.
The airline’s fleet has expanded significantly, now including Boeing 737s, Boeing 777s, Dornier 328s, Embraer 145s, Embraer 195-E2s, and Airbus 320s. This diverse range of aircraft has supported Air Peace’s growing network, which now includes routes to international destinations such as Accra, Ghana, Sharjah, and Johannesburg, South Africa.
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
Jacky Hathiramani, the pioneer Managing Director/CEO of Dana Airlines and now the Group Managing Director/CEO of Dana Group of Companies, is a Nigerian born in Jos, Plateau state. He holds a degree in Business Administration from the European Business School of London and sits on the board of several blue-chip companies and PLCs.
Jacky started his career in the manufacturing industry, where he was appointed as an Executive Director of Ashmina Limited in 1998. He led major business transformation in the company, which led to his appointment as 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.
- Kunle Soname- Founder Value Jet
Kunle Soname is a Nigerian entrepreneur, sports enthusiast, and the chairman of Bet9ja, a leading betting platform he founded in 2013. He made history in 2015 as the first Nigerian to acquire a European football club, C.D. Feirense.
Soname studied Estate Management at Obafemi Awolowo University, graduating in 1988, and later served as the Executive Chairman of Ikosi-Isheri Local Council until 2011. His passion for sports led him to establish Remo Stars Football Club in 2004, which was relocated from Lagos to Ogun State and now competes in the Nigerian Premier League.
In addition to his ventures in sports and betting, Soname is the founder of ValueJet, a private Nigerian airline established in 2018. ValueJet, which began operations in 2022, provides domestic flights to key Nigerian cities like Lagos, Abuja, Port Harcourt, and Yola.
The airline aims to offer safe, reliable, and affordable air travel, with a fleet of Bombardier CRJ900 Jets. Soname’s contributions extend beyond business as he was inducted as a patron at the University of Lagos in 2022, in recognition of his philanthropic activities. His achievements in business, sports, and community service continue to make him a prominent figure in Nigeria.
- Alhaji Dahiru Barau Mangal- Founder Max Air
Dahiru Mangal is a prominent Nigerian entrepreneur and the founder of Max Air, one of the country’s leading airlines. Established in 2006 as Mangal Airlines, it rebranded in 2008 as Max Air and began its first commercial flight to King Abdulaziz International Airport from Kano.
The airline, which started with two Boeing 747-400 aircraft and three destinations, has since expanded to operate several domestic, regional, and international routes. Mangal serves as the Chairman and CEO of Max Air Limited and leads AFDIN Group (Nigeria) Limited, a conglomerate with interests in construction, oil, and other sectors, including AFDIN Construction, Mangal Oil, and Manasawa Enterprises.
Mangal’s contributions extend beyond business, with significant philanthropic efforts aimed at supporting students, individuals with disabilities, and displaced persons affected by conflict. In 2021, his company, Mangal Industries, signed an agreement with Sinoma, a Chinese firm, to build a cement plant and a power plant in Kogi State, a $600 million project expected to be completed by 2024. Max Air continues to grow, adding new domestic routes and introducing innovative services such as an in-flight magazine, making it a key player in Nigeria’s aviation industry.
- Captain Edward Boyo- Founder Overland Airways
Captain Edward Boyo, the founder and CEO of Overland Airways, has been a key figure in Nigeria’s aviation sector for more than two decades. In addition to leading Overland Airways, Boyo is the founder and managing director of Landover Company Limited, a prominent aviation services provider in Africa.
Overland Airways, established in 2002, was conceived with the mission of connecting Nigeria’s remote regions to major urban hubs, offering reliable air travel for both business and leisure passengers.
The airline operates a fleet of ATR 42 and ATR 72 turboprops, along with Beechcraft 1900Ds, providing services to a network of domestic routes including Lagos, Abuja, Ibadan, Ilorin, Akure, Dutse, Minna, Bauchi, Asaba, and Jalingo. Overland Airways has gained a strong reputation for its punctuality and its commitment to bridging the gap between underserved regional markets and Nigeria’s larger commercial centers.
Boyo’s leadership extends beyond Overland Airways, as he has made significant contributions to the development of the African aviation industry. He is also the founder and publisher of Aviation & Allied Business Africa Journal and has played a key role in training the next generation of aviation professionals through Landover Aviation Business School. His efforts have cemented him as a pivotal figure in the growth of aviation across the continent.
- Babawande Afolabi- Founder of Green Africa Airways
Babawande Afolabi, a Nigerian entrepreneur and founder of Green Africa Airways, has always had a deep passion for transportation.
Growing up in Ile-Ife, Osun State, his fascination with the sector was ignited further during his time as an Investment Banker at Morgan Stanley in 2011/2012, where he gained exposure to the transportation industry.
This experience inspired him to pursue his dream of creating a Pan-African value airline based in Nigeria, aiming to make air travel affordable for everyone, including his teachers in Ile-Ife.
Babawande gained his MBA at Stanford GSB. With guidance from experienced mentors, he launched Green Africa Airways in 2015, raising initial funding through friends, former colleagues, and classmates. In 2017, Kuramo Capital made the first major institutional investment, followed by a Series A funding round in 2018-2019.
Green Africa placed an order for 100 Boeing 737 Max aircraft in 2018, but it was canceled due to safety concerns. In 2020, the airline switched to Airbus A220-300s, with delivery deferred due to the pandemic. Green Africa commenced operations in 2021 with leased ATR 72-600s, positioning itself as a major player in the Nigerian airline industry.
- Prof Obiora Okonkwo-Founder United Airlines Nigeria
Prof. Obiora Okonkwo, a renowned academic and entrepreneur, was awarded the prestigious Order of the Federal Republic (OFR) in 2022 by President Muhammadu Buhari. He holds a Doctor of Philosophy in Political Science from the Russian Academy of Science, Moscow, and has earned multiple degrees with distinction, including a Master of Science in Economics and a First Class in Economics and Management from the Russian Peoples Friendship University.
Prof. Okonkwo’s career began in Onitsha, Anambra State, where he combined his education with trading alongside his father at the Onitsha Main Market. Over the years, he has become a prominent thought leader, delivering lectures on key issues such as entrepreneurship, leadership, and the media’s role in democracy. His major publications focus on Nigerian development, including his widely referenced works on civil society and national development.
In 2020, Prof. Okonkwo founded United Nigeria Airlines, a wholly Nigerian-owned commercial airline. The airline, incorporated under the Companies and Allied Matters Act of 1990, offers air transportation services and has quickly established itself in the Nigerian aviation sector. Prof. Okonkwo serves as the head of the airline, further showcasing his commitment to contributing to Nigeria’s growth.
A respected recipient of multiple awards, including The Sun Entrepreneur of the Year Award (2020) and Rotary International Youth Leadership Icon Award (2019), Okonkwo is also a Knight of the Order of King Leopold, the highest honor for foreign nationals from Belgium. Through his entrepreneurial ventures and public service, Prof. Okonkwo continues to contribute significantly to Nigeria’s development and beyond.
