Nigeria’s Aviation Global Rating Soars Following Compliance with Cape Town Convention
Nigeria’s global aviation rating has seen an immediate and remarkable improvement following the Ministry of Aviation and Aerospace Development’s implementation of the Cape Town Convention (CTC) Practice Direction.
This bold initiative has propelled Nigeria’s compliance score from 49 to an impressive 70.5, according to a swift adjustment made by the Aviation Working Group, co-chaired by aerospace giants Boeing and Airbus.
The new rating, which stands as Nigeria’s highest compliance score to date, is set to bolster confidence among international financiers and the aircraft leasing community.
The Minister of Aviation and Aerospace Development, under whose leadership the Practice Direction was finalised, has directed the Nigerian Civil Aviation Authority (NCAA) to further align its administrative rules, particularly the Irrevocable Deregistration and Export Request Authorisations (IDERA), with the provisions of the Convention.
The Minister’s Special Assistant on Media and Communications, Tunde Moshood, disclosed in a statement that the alignment is expected to further enhance Nigeria’s standing in the global aviation sector, particularly among aircraft financiers and lessors.
According to the statement, the Ministry received an email on Wednesday evening from the Aviation Working Group, based in London and New York, where commendations were extended to the Aviation Minister and his team for the “time, effort, and skill” they invested over recent months to make this development a reality.
The group acknowledged Nigeria’s efforts in aligning with global standards and expressed optimism about the country’s potential to achieve an even higher score in the coming weeks as administrative adjustments are made, and the courts begin to apply the newly established Practice Direction.
Further increases in Nigeria’s compliance score are anticipated once these administrative measures are fully implemented and operational.
This development is expected to significantly impact Nigeria’s aviation sector, enhancing its appeal to international investors and fostering growth in the country’s aerospace industry.
