Festus Keyamo, Minister of Aviation and Aerospace Development
More laurels have continued to come in for the hardworking Minister of Aviation, Chief Festus Keyamo SAN as Nigeria’s aviation sector this week, is celebrating a major victory.
The country has been officially removed from the Aviation Working Group’s (AWG) watchlist of non-compliant countries.
This follows a significant improvement in Nigeria’s score on the Cape Town Convention (CTC) Compliance Index, rising from 70.5% to 75.5%, placing the country in the ‘high category.’
The breakthrough was achieved with the signing of the Administrative Rules governing aircraft repossession by creditors and lessors, known as the Irrevocable De-registration and Export Request Authorisation (IDERA).
This crucial step signifies Nigeria’s full compliance with the CTC, unlocking numerous opportunities for the country’s aviation sector.
“This is a testament to the government’s commitment to ensuring a safe, secure, and thriving aviation industry,” stated Special Adviser to the Minister of Aviation and Aerospace Development, Tunde Moshood.
“The AWG’s recognition of our compliance status is a significant achievement that will translate into tangible benefits for Nigerian airlines and the travelling public.”
The improved compliance score is expected to pave the way for increased aircraft financing and dry-leasing options for Nigerian airlines, granting them better access to global aircraft leasing markets.
This, in turn, will lead to greater flight regularity, the expansion of serviced routes, and potentially more competitive ticket pricing, directly benefiting the Nigerian public.
The AWG’s official communication to Minister Festus Keyamo SAN, confirming Nigeria’s compliance status, has been released and is available upon request.
