Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has called on the African Development Bank (AFDB) to support investment in Nigeria’s aviation sector, particularly the newly approved Nigeria Aircraft Leasing Company.
Keyamo made the appeal during a dialogue session with the AFDB President and governors in Brazzaville, Republic of the Congo, where he participated in his new capacity as African Champion of the Integrated Aviation Transformation Programme (IATP).
The minister highlighted the opportunities presented by the AFDB’s $7 billion IATP initiative for Africa’s aviation industry, with particular emphasis on Nigeria’s potential role in driving growth across the continent.
According to Keyamo, he presented the aviation component of President Bola Ahmed Tinubu’s Renewed Hope Agenda and outlined reforms aimed at positioning Nigeria as a major aviation hub in Africa.
He said the proposed Nigeria Aircraft Leasing Company could serve as a model for other African countries if adequately supported through investment and financing.
Keyamo noted that Nigeria has already implemented key reforms to support the initiative, including domesticating the Cape Town Convention, updating its Irrevocable De-registration and Export Request Authorisation (IDERA) framework, and revising aviation insurance policies to align with international standards.
The minister said the AFDB President expressed satisfaction with the presentation and pledged support for the successful implementation of the IATP across Africa, particularly in Nigeria.
Following the dialogue session, Keyamo unveiled Nigeria’s Country Compact for the aviation sector and participated in the signing of a Letter of Intent between the AFDB and the Federal Government of Nigeria.
The agreement commits both parties to work towards operationalising the Integrated Aviation Transformation Programme in Nigeria and across the African continent.
