Festus Keyamo, Nigeria’s minister of aviation and aerospace development, announced that the country’s compliance score on the Cape Town Convention (CTC) index has risen from 70.5% to 75.5%. This improvement has officially removed Nigeria from the Aviation Working Group’s (AWG) watchlist of non-compliant countries.
According to a statement from Tunde Moshood, Keyamo’s special adviser, this achievement follows the signing of the Irrevocable De-registration and Export Request Authorization (IDERA), which facilitates the repossession of aircraft by creditors and lessors, completing Nigeria’s compliance process under the CTC.
Keyamo highlighted that the improved score will enhance opportunities for aircraft financing and dry leasing, granting Nigerian airlines better access to global leasing markets. This development is expected to increase flight frequencies, expand routes, and lower ticket prices, benefiting the public.
This milestone builds on the Nigerian government’s signing of the CTC practice direction on September 12, which had previously boosted the compliance score from 49% to 70.5%, creating a safer environment for aircraft leasing.