Nigeria’s Aviation Global Rating on Aircraft Dry-Leasing Rises

In a response to Nigeria’s attempt to fully comply with the Cape Town Convention on dry-leasing of aircrafts by preparing and signing the Practice Direction, the Aviation Working Group Co-chaired by BOEING and AIRBUS has adjusted the global rating of Nigeria on it’s compliance status from 49 to 70.5. 

This was contained in a press statement made available to Journalists by the Special Assistant on Media and Communication to Aviation Minister, Mr Tunde Moshood.

The statement revealed that, this is the largest score Nigeria has attained till date to give comfort to financiers and the leasing world.

Furthermore, the Minister of Aviation has directed the Nigeria Civil Aviation Authority  to adjust its administrative rules called IDERA to also fully align with the Convention to further boost the confidence of financiers and lessors across the world. 

“In an email received on Wednesday evening, the Aviation Working Group in London and New York commended the Aviation Minister Festus Keyamo and his team for the ‘time, effort and skill’ they put in the last few months into making this a reality.” 

They also said they are poised to further increase the score once Nigeria adjusts its administrative rules in the next few weeks and the courts actually begin to apply the practice direction.