Festus Keyamo, minister of aviation and aerospace development, says Nigeria will create an enabling environment for aircraft dry leasing and acquisition.
Keyamo spoke on Wednesday at the Nigerian aviation banking forum, held on the sidelines of the Airline Economics Growth Frontiers Global conference in Dublin, Ireland.
The minister, in a post on X, said the forum, hosted by Avolon, a global leader in aviation finance, served as a platform to strengthen collaboration between global aviation financiers and Nigerian stakeholders.
Keyamo said the federal government is determined to create an enabling environment for aircraft leasing and acquisition, highlighting ongoing reforms aimed at attracting foreign investments.
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“I reaffirmed Nigeria’s commitment to creating an enabling environment for aircraft dry leasing and acquisition,” he said.
“I made the point to the global audience that Nigeria is a country ready for business, with bold initiatives and reforms made by this administration to attract investment into the country.”
The minister stressed the importance of bolstering confidence in the Nigerian aviation industry, particularly among local financial institutions, as they navigate challenges in accessing capital for growth.
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On September 12, 2024, the federal government signed the Cape Town Convention (CTC) practice direction to enable domestic airline operators to access aircraft on dry lease.
The Cape Town accord aims to enhance asset-based financing and leasing of aviation equipment, including aircraft, thereby expanding funding opportunities and reducing costs for airlines.
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