The Minister of Aviation and Aerospace Development, Festus Keyamo, has attended a high-level dialogue session with the President and Governors of the African Development Bank (AfDB) in Brazzaville, Congo, where he highlighted investment opportunities in Africa’s aviation sector under the Bank’s $7 billion Integrated Aviation Transformation Programme (IATP).
According to the Minister’s Special Adviser on Media and Communications, Tunde Moshood who disclosed this in a press release, Keyamo who was recently appointed African Champion of the IATP, used the session to present Nigeria’s aviation reform agenda and showcase the country’s readiness to benefit from and drive the continental aviation initiative.
During his presentation, the minister unveiled President Bola Ahmed Tinubu’s Renewed Hope Agenda for the aviation sector, stressing the huge potential of the industry in Nigeria and across Africa.
He particularly drew attention to the newly approved Nigeria Aircraft Leasing Company, urging the AfDB to mobilise capital support for the initiative. According to him, the leasing company could serve as a model for other African countries seeking to strengthen their aviation sectors.
Keyamo explained that Nigeria had already laid the groundwork for the success of such initiatives through key policy and regulatory reforms. These include the domestication of the Cape Town Convention, the update of the Irrevocable Deregistration and Export Request Authorisation (IDERA), and the review of aviation insurance policies to align with global standards.
The AfDB President reportedly commended Nigeria’s presentation and reaffirmed the Bank’s commitment to the successful implementation of the Integrated Aviation Transformation Programme across Africa, especially in Nigeria.
Following the dialogue session, Keyamo unveiled the Country Compact for Nigeria’s aviation sector before proceeding to the signing ceremony of a Letter of Intent (LOI) between the AfDB and the Federal Republic of Nigeria.
The agreement commits both parties to work towards the operationalisation of the Bank’s aviation transformation programme aimed at boosting air transport development across the continent.
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