Nigeria’s aviation compliance score under the Cape Town Convention (CTC) has risen from 70.5% to 75.5%, a significant improvement that has removed the country from the Aviation Working Group’s (AWG) watchlist of non-compliant nations. This milestone comes after Nigeria signed the Irrevocable De-registration and Export Request Authorization (IDERA), which governs the process of aircraft repossession by creditors and lessors.
The AWG officially communicated the compliance upgrade to Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development. The group confirmed that the signing of IDERA concludes the country’s compliance process with CTC regulations, positioning Nigeria in the ‘high category’ of compliant countries. This development opens up numerous opportunities for the nation’s aviation sector.
With the improved compliance score, Nigerian airline operators are expected to gain better access to global aircraft financing and dry-leasing markets. This advancement will make it easier for airlines to lease aircraft, a critical aspect of expanding their operations and ensuring more efficient service delivery.
The boost in compliance is also projected to have a positive impact on the public. Passengers will likely see an increase in flight frequency, an expansion of serviced routes, and potentially more competitive ticket pricing. These benefits will be made possible as Nigerian airlines strengthen their fleets and service capacities through new leasing opportunities.
This achievement marks a key turning point for Nigeria’s aviation sector, as the country seeks to improve its standing in global aviation markets. With enhanced compliance, the sector is poised for growth, fostering increased investment and improved operational standards, which will benefit both operators and travelers alike.
