In 2021, 39-year-old Babatunde Afolabi launched what is known as Green Africa, a low-cost airline operating in our skies.
Babatunde is now 43.
The airline did not have its own aircraft assets but relied on a wet lease arrangement.
A wet lease arrangement is where an airline in Nigeria leases an aircraft from abroad for an agreed monthly fee.
The airline abroad leasing the aircraft sends their aircraft with their crew, including pilot and air hostess.
Wet lease arrangements are very common in the Nigerian aviation ecosystem.
This is why it is common to see an oyibo pilot and oyibo air hostess in a local flight.
What it means is that the particular aircraft, even though passengers think it belongs to a local airline, was wet leased from a foreign airline.
The lessor retains operational control of the aircraft, meaning they are responsible for the flight, safety, and compliance with aviation regulations.
This is different from dry lease arrangements where the lessors send only their aircraft without the crew.
So, Babatunde Afolabi started his airline business with three aircraft leased from a lessor.
Life was good, and business was moving for the low-budget airline until last year when the owner of the three airlines came for their properties.
On March 31, 2025, lessor ACIA Aero Leasing repossessed three ATR 72-600 aircraft operated by Green Africa for their commercial operations.
Consequently, the airline announced a temporary suspension of flights, extending beyond the Eid-al-Fitr holidays.
The repossession was fast and furious, which caught Green Africa napping.
This development forced the airline to acquire its first owned airline asset, ATR 72-500, serial number 852, registered as 5N-GAB, so as to continue their business with partial support from Access Bank that extended a loan to the airline to acquire their first owned aircraft assets.
I just read online that the budget-friendly airline has acquired its second aircraft( picture attached below), doubling its fleet with an ATR72-600 that arrived today, again with support from Access Bank.
Managing Director and Chief Executive Officer of Access Bank, Roosevelt Ogbonna, said the partnership reflects confidence in enterprises transforming critical sectors.
He noted that following the strong performance of Green Africa’s first owned aircraft, Access Bank was proud to extend support for the second acquisition. According to him, the transaction would enhance capacity and accelerate sustainable growth.
As I was reading the story, something struck me:
Babatunde was not fully ready in 2021; he did not have the money nor the social capital to raise a loan to buy a new aircraft.
What did he do?
He found a way around it by starting Green Africa operation with a wet lease arrangement, which made Access Bank take notice.
I can bet that if he had waited to be ready before starting Green Africa last year, Access Bank would not have taken the risk to finance not one but two aircraft for the young airline.
People underestimate the power of just starting.
People plan too much.
If you keep planning, you’ll plan forever.
Just start.
Just like Green Africa. You don’t have to have it all planned; you don’t have to have it all figured out.
Just start.
You can figure things out along the way, and this for me is the biggest lesson from this story.