Group Applauds Nigerian Government’s Significant Strides In Aviation Sector

Abuja, Nigeria – The Tinubu Stakeholders Forum (TSF) has lauded the Nigerian government’s significant strides in the aviation sector, citing the recent increase in the country’s Cape Town Convention (CTC) compliance index as a major achievement.

The score, which has increased from 49% to 70.5%, demonstrates Nigeria’s determination to become a safe and dependable aircraft leasing destination.

This positive development comes after the Aviation Working Group (AWG), a global entity made up of major aviation players, formally communicated the improved score to Festus Keyamo, Minister of Aviation and Aerospace Development.

The AWG attributed the increase to the Nigerian government’s proactive legal reforms, such as the signing of the CTC Practice Direction in September 2024.

This historic legal document, signed by Chief Judge of the Federal High Court, John Tsoho, aligns Nigeria’s judicial system with international aviation leasing standards, effectively erasing the country’s previous blacklist in the global aviation finance market.

The TSF stated that the Practice Direction establishes a clear framework for meeting CTC obligations, superseding previous non-compliant judicial precedents.

“This is a victory for transparency, good governance, and economic growth,” declared Ahmad Sajoh, Chairman of the Tinubu Stakeholders Forum.

“The improved compliance score not only boosts confidence in Nigeria’s aviation sector but also demonstrates the country’s readiness to fully participate in global aviation leasing and finance.”

The TSF also commended the government’s ongoing efforts to ensure the judiciary follows the new CTC Practice Directions.

The Forum urged relevant stakeholders to continue supporting the reform process, emphasising the importance of long-term commitment to compliance and international standards.

“This initiative will pave the way for greater opportunities, increased investor confidence, and overall growth in Nigeria’s aviation sector, ensuring that the country takes its rightful place as a regional leader,” concluded the TSF statement.

With this significant improvement in its CTC compliance score, Nigeria is poised to attract additional investments and solidify its position as a major player in the global aviation industry.

This achievement demonstrates the government’s commitment to economic reform and the development of legal frameworks that promote a more secure and competitive aviation sector.