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By: Tanimu Hassan Abuja
On Oct 17, 2024
In line to strengthen Civil Aviation Business in Nigeria, Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, and the Director General Nigeria Civil Aviation Authority, Captain Chris Najomo, have officially signed the Irrevocable De-registration and Export Request Authorization IDERA practice direction for smooth import and Export of aircraft into the country at the aviation Ministry headquarters in the nation’s capital.
The Irrevocable Deregistration and Export Request Authorization IDERA, is a pivotal tool under the Aviation Regulations and aviation law, particularly in the context of aircraft leasing and aircraft financing.
This instrument was introduced as a remedy under the Aircraft Protocol to the Cape Town Convention Regulation for the benefit of the aircraft lenders.
Nigeria as a sovereignty nation also joins other countries in the world to sign the practice direction, which allows lenders to de-register an aircraft through the Nigeria Civil Aviation Authority in case of any default or after the aircraft is done with its activities in the country.
During the Signing, Minister, of Aviation and Aerospace Development, Mr. Festus Keyamo revealed the importance of the IDERA practice to the Nigerian Civil Aviation industry.
“Previous government served ignored this part of our duty on the aviation industry in order to unlock the world of aircraft leasors to financers across the world, we sign the practice direction guiding the court on how to interpret the Cape Town Convention and the protocol, we also sign this because there was judicial uncertainty before then as how to treat cases that comes before the Court, when there is dispute between the leasors and leases, it always be a problem for court on how to resolve it, and the time frame within which to resolve the problem.
“Without knowing this single uncertainty affected our rating in international community and so Nigeria was blacklisted and said it’s not a safe place in which the leasors and financers can bring their aircraft in to the country. Having settle the judicial remedies completely, we now turn our attention to the to administrative rules by which aircraft can be deregistered through the Nigeria Civil Aviation Authority without seeking the court injunction for an aircraft to be exported.”
“As I speak with you now the Aviation Working Group Committee are waiting for Nigeria to sign this practice direction so that they can release some of our air craft on dry lease into the country for them to be sure that their aircraft are safe.” the Minister added.
In his response the Acting Director General Nigeria Civil Aviation Authority Captain Chris Najomo said the goal of enabling Nigerian airlines to have access to dry-lease aircraft will also be achieve by signing the practice direction of the Irrevocable Deregistration and Export Request Authorization IDERA.
By signing the IDERA Practice Direction now, any aircraft that would be exported into the country henceforth must officially notify the Nigeria Civil Aviation Authority within five days to avoid black listing, It is also expected to raising further discuss of Nigeria in the world of leasors and financers.
Olusola Akintonde
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English (US) ·