Nigeria’s global aviation compliance score has improved significantly following the signing of the Administrative Rules governing the repossession of aircraft by creditors and lessors, known as the Irrevocable De-registration and Export Request Authorisation (IDERA).
This was revealed by the Minister of Aviation and Aerospace Development, Festus Keyamo, during the commissioning of the Juhi-2 Aviation Fuel Depot at Murtala Muhammed International Airport (MMIA), Lagos.
The minister attributed the recent progress to actions taken by the government, including the signing of the Cape Town Convention Practice Direction, which boosted Nigeria’s rating from 49% to 70.5% in just one month.
The new rating, which places Nigeria in the ‘high category’, was announced on Wednesday by the Aviation Working Group (AWG), according to a statement by the minister’s special adviser, Tunde Moshood.
This development officially marks Nigeria’s removal from the AWG’s watch list of non-compliant countries. The AWG confirmed to Keyamo that the signing of the IDERA completes Nigeria’s compliance process, unlocking numerous opportunities for the country’s aviation industry.
This milestone is expected to open new doors for aircraft financing and dry-leasing for Nigerian airline operators, providing greater access to global aircraft leasing markets. The resulting impact is anticipated to improve flight regularity, expand serviced routes, and lead to more competitive ticket prices, ultimately benefiting the Nigerian public.