The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN, has reaffirmed Nigeria’s unwavering commitment to strengthening aviation financing, regulatory reforms and compliance with the Cape Town Convention (CTC) while addressing global stakeholders at the Aviation Working Group (AWG) General Meeting in London.
A statement by the Special Adviser On Media and Communications to the Honourable Minister of Aviation and Aerospace Development, Mr. Tunde Moshood said, the Minister, who was speaking before an audience of international financiers, aircraft lessors, legal experts and aviation stakeholders gathered in the imperial city of London, described Nigeria’s recent aviation reforms “as a strategic effort aimed at positioning the country as a reliable and competitive destination for aircraft financing and leasing transactions.”
The Minister expressed appreciation to the Aviation Working Group for its consistent support and collaboration with Nigeria, particularly acknowledging the role of Mr. Jeffrey Wool and the AWG leadership in promoting and enhancing Nigeria’s compliance with the Cape Town Convention.
“Addressing global financiers, aircraft lessors, legal experts, and aviation stakeholders, the Minister highlighted Nigeria’s remarkable progress in improving investor confidence, enhancing legal enforcement mechanisms, and positioning the country as a more reliable destination for aircraft leasing and financing transactions.” the statement added.
According to the statement, among the major milestones outlined were:
- Nigeria’s CTC compliance score improvement from 49% to 75.5%
- Removal of Nigeria from the Aviation Working Group blacklist
- Successful implementation of IDERA processes
- Improved dry lease transactions for Nigerian airlines
Equally notable according to the statement is Nigeria’s “Federal Executive Council approval for the establishment of a Nigerian Aircraft Leasing Company projected to unlock over $1 billion in future fleet financing capacity.”
The Minister reaffirmed that sustainable aviation growth depends on trust in legal systems, institutional confidence, and respect for international obligations, while restating Nigeria’s readiness for stronger collaboration with global aviation stakeholders.
Nigeria’s Aviation Minister Reaffirms Commitment To Aviation Finance Reforms At Aviation Working Group
