The Minister of Aviation and Aerospace Development, Festus Keyamo said on Thursday Nigeria has been removed from the Aviation Working Group (AWG) blacklist for non-compliance with protocols in the sectors.
In a statement issued by his Special Adviser on Media, Tunde Moshood, the minister said the country’s global compliance ratings had risen to 75.5 percent.
The rating improvement followed 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 statement read: “The Aviation Working Group (AWG) announced yesterday 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.
“This development marks Nigeria’s official removal from the AWG’s watchlist of non-compliant countries.
“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.”
By: Babajide Okewo @Ripple Nigeria
