The Minister of Aviation and Aerospace Development, Festus Keyamo has said that Nigeria’s global aviation compliance score has seen a significant improvement following the signing of the Administrative Rules governing aircraft repossession by creditors and lessors, known as the Irrevocable De-registration and Export Request Authorization (IDERA).
The Minister made this known during the commissioning of the Juhi-2 Aviation Fuel Depot at Murtala Muhammed International Airport (MMIA), Lagos.
He credited the recent progress to steps taken by the government, including the signing of the Cape Town Convention Practice Direction, which propelled Nigeria’s rating from 49% to 70.5% in just a month.
The new rating which placed the country in the ‘high category’, according to a statement by the special adviser to the Minister, Tunde Moshood, was announced on Wednesday by the Aviation Working Group (AWG).
This development, he said, marks Nigeria’s official removal from the AWG’s watch list of non-compliant countries.
The AWG, in a communication to Keyamo, confirmed that the signing of the IDERA concludes Nigeria’s compliance process, unlocking numerous opportunities for the country’s aviation sector.
This milestone, the statement noted, is expected to open new avenues for aircraft financing and dry-leasing for Nigerian airline operators, ensuring greater access to aircraft leasing markets globally.
It added that the resulting impact will be felt in increased flight regularity, the expansion of serviced routes, and competitive ticket pricing, ultimately benefiting the Nigerian public.
The Ministry's vision is to be the best aviation industry in Africa and one of the best in the World
And its Mission is to build a safe, secured and efficient Aviation Industry focused on making Nigeria a hub that meets international standards and best practices for the African continent.
The Federal Ministry of Aviation and Aerospace is one of the Federal Ministries of Nigeria that regulates air travel and aviation services in the country. The Ministry is responsible for formulation and management of the government’s aviation policies. It is also responsible for overseeing air transportation, airport development, maintenance, provision of aviation infrastructural services and other needs.
The Ministry is headed by a Minister appointed by the President, assisted by a Permanent Secretary, who is a career civil servant. The current Minister of Aviation is Festus Keyamo SAN.
