This positive change follows the recent enactment of Administrative Rules concerning the Irrevocable De-registration and Export Request Authorization (IDERA), which regulates the repossession of aircraft by creditors and lessors.
This regulatory enhancement reinforces Nigeria's dedication to meeting international aviation standards, reassuring global stakeholders.
The AWG conveyed Nigeria's improved compliance status in a communication to Festus Keyamo SAN, Nigeria’s Minister of Aviation and Aerospace Development.
The statement highlighted that “the signing of IDERA completes Nigeria’s compliance process,” emphasizing the significance of this achievement in attracting investment to the nation's aviation industry.
Tunde Moshood, Special Adviser to the Minister, noted that this improved compliance status will enable Nigerian airlines to participate in global aircraft financing and dry-leasing markets.
“This achievement allows Nigerian operators to more easily access aircraft leasing markets, which will lead to increased flight frequency, expanded routes, and potentially lower ticket prices,” Moshood stated.
With these new prospects, Nigeria's aviation industry is set to enhance public access to flights while improving service reliability and coverage across various destinations.
Keyamo Recognized for Advancements in Nigeria's Aviation Sector
The Centre for Africa Civilisation and Development (CACD) has praised Keyamo for his significant contributions to the aviation industry.
Prince Madaki, the Executive Director of CACD, referred to Keyamo as a "transformative leader," highlighting his initiatives that have led to enhanced air safety, support for local airlines, and improvements in airport facilities.
"His leadership has facilitated the transition of airlines to the new terminal at Murtala Muhammed International Airport, significantly improving the passenger experience," Madaki remarked during a press conference in Abuja, crediting Keyamo's emphasis on efficiency and transparency for these advancements.
Madaki also pointed out Keyamo's initiatives aimed at enhancing air safety through the Nigerian Airspace Management Agency (NAMA) and his dedication to fostering public trust in domestic airlines, which has bolstered confidence in local air travel.
The CACD urged for continued investment in infrastructure and the establishment of international collaborations, expressing their belief in Keyamo's potential to drive sustainable growth in Nigeria's aviation sector.
Thursday, October 17th, 2024
— Festus Keyamo, SAN, CON, FCIArb (UK) (@fkeyamo) October 17, 2024
Abuja, Nigeria
PRESS RELEASE
NIGERIA’S AVIATION SCORE ON CTC COMPLIANCE INDEX RISES TO 75.5%, COUNTRY REMOVED FROM WATCHLIST
Nigeria's global aviation compliance score has seen a significant improvement following the signing of the Administrative… pic.twitter.com/adWi1YmYqp