Odimmegwa Johnpeter/Abuja
Nigeria recorded a surge in its compliance with international global aviation financing standards under the Cape Town Convention, which has surged to 75.5 per cent.
The Minister of Aviation and Aerospace Development, Festus Keyamo, stated this development on Tuesday at the opening of the Cape Town Convention, Africa Event, held in Abuja.
The two-day event which was jointly organised by the Nigeria Civil Aviation Authority (NCAA), the Federal Ministry of Aviation and Aerospace Development, the Aviation Working Group (AWG), and the African Civil Aviation Commission (AFCAC), brought together aviation regulators, financiers, legal experts, and policymakers from across Africa.
Keyamo, who was represented by Dr. Anastasia Gbem, Director of Human Resources and Administration, said the new rating reflected Nigeria’s growing commitment to aligning its aviation systems with international best practices.
His words: ““Nigeria’s Cape Town Convention compliance score has risen from 70.5% to 75.5% following the signing and operationalization of the Irrevocable Deregistration and Export Request Authorization (IDERA) procedure and Practice Direction.
“This milestone strengthens our position as a regional leader in aviation law reform and signals to global investors that Nigeria is open for business on globally accepted terms.”
According to the minister, the Cape Town Convention, ratified by 28 African countries, had transformed global aircraft financing by reducing credit risks and improving access to capital.
He advocated that African nations should harmonize their implementation of the Convention, stressing that the full benefits would only be realized through collective action and legal coherence across the continent.
He further stated: “The Cape Town Convention is not just a legal framework; it is a tool for sustainable aviation growth.
“We must ensure it translates into lower financing costs, easier access to modern aircraft, improved investor confidence, and enhanced operational efficiency”.
He lauded the AWG and AFCAC for their continued partnership and rallied stakeholders to deepen collaboration under the African Continental Free Trade Area (AfCFTA) framework.
Director General of the Nigeria Civil Aviation Authority (NCAA), Captain Chris Ona Najomo, represented by Donald Tonye Spiff, Director Operation, Licensing and Training, noted that the new compliance milestone is a culmination of years of regulatory reforms and judicial strengthening.
He added that a clearer framework for adjudicating aircraft financing cases in Nigerian courts was made possible by the Cape Town Convention Practice Directions signed by Keyamo in September 2024
Spiff said: “The Practice Direction serves as a tool of application and guidance for the adjudication of aircraft financing-related matters by the Federal High Court. It has significantly increased Nigeria’s compliance rating from 49.0% to 75.5%.”
He further stated that the event’s moot court sessions would expose legal practitioners to complex case scenarios under the Convention, helping cultivate a new generation of aviation law experts.
Representing Buhari Abdulfatai, Chairman of the Senate Committee on Aviation, Senator Augustine Akobundu reaffirmed the National Assembly’s commitment to fostering a regulatory environment that aligns with international aviation practices.
“Effective domestication and implementation of the Cape Town Convention present an opportunity to unlock the continent’s full aviation potential.
“The legislature will continue to partner with the executive and stakeholders to advance reforms that promote safety, efficiency, and investor confidence,” Akobundu said.
In addition, Hon. Shina Oyedeji, representing the House Committee on Aviation, said the National Assembly remained committed to repositioning Nigeria’s aviation industry to meet global standards.
He urged financiers and operators to work closely in leveraging the Convention for sustainable growth.
Jeffrey Wool, Secretary-General of the Aviation Working Group (AWG), highlighted what he described as a “long-term and sustained partner” of Nigeria in the implementation of the Cape Town Convention.
His words: “This is not just a business law treaty; it is one of the most important commercial law frameworks in history.
“Nigeria has played a key role in its development and continues to be a model for other African nations.”
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