1 week Ago By Stella Omona
ABUJA – 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 Aviation Working Group (AWG) announced that Nigeria’s score on the Cape Town Convention (CTC) Compliance Index has been increased from 70.5% to 75.
5%, placing the country in the ‘high category.’ A statement by Tunde Moshood, Special Adviser to the Minister of Aviation and Aerospace Development on Thursday night said that this development marks Nigeria’s official removal from the AWG’s watchlist of non-compliant countries. The statement reads in parts; `The AWG, in a communication to Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo SAN, confirmed that the signing of the IDERA concludes Nigeria’s compliance process, unlocking numerous opportunities for the country’s aviation sector.
`This milestone is expected to open new avenues for aircraft financing and dry-leasing for Nigerian airline operators, ensuring greater access to aircraft leasing markets globally. The resulting impact will be felt in increased flight regularity, the expansion of serviced routes, and competitive ticket pricing, ultimately benefiting the Nigerian public.”.
