Odimmegwa Johnpeter/Abuja
The Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has signed a Letter of Intent (LOI) on behalf of the Federal Government of Nigeria with the African Development Bank (AfDB) to advance the Integrated Aviation Transformation Programme (IATP) across Africa.
Keyamo, who recently emerged as the African Champion of the IATP, signed the agreement on Thursday during a high-level dialogue session with the President and Governors of the AfDB in Brazzaville, Congo.
Addressing the gathering, according to a statement by his Special Adviser On Media and Communications Tunde Moshood , the Minister highlighted the opportunities embedded in the AfDB’s $7 billion aviation transformation programme, describing it as a major catalyst for the growth of Africa’s aviation industry and a significant opportunity for Nigeria.
He also unveiled President Bola Ahmed Tinubu’s Renewed Hope Agenda for the aviation sector, outlining ongoing reforms and investment opportunities aimed at repositioning Nigeria as a leading aviation hub on the continent.
Keyamo particularly drew attention to the newly approved Nigeria Aircraft Leasing Company, urging the AfDB to mobilise capital support for the initiative. According to him, the leasing company could serve as a model for other African nations seeking to strengthen their aviation sectors.
The Minister noted that Nigeria had already laid the necessary groundwork for the success of the initiative through the domestication of the Cape Town Convention, updates to its Irrevocable Deregistration and Export Request Authorisation (IDERA), and reforms in aviation insurance policies to align with global industry standards.
President of the AfDB expressed satisfaction with the presentation and reaffirmed the Bank’s commitment to the successful implementation of the IATP across Africa, particularly in Nigeria.
Following the dialogue session, Keyamo unveiled Nigeria’s Country Compact for the aviation sector before proceeding to the formal signing ceremony of the Letter of Intent between the AfDB and the Federal Republic of Nigeria.
The agreement commits both parties to work closely towards operationalising the Bank’s aviation transformation programme in Nigeria and across the continent.
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