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By Lukman Olabiyi
Nigeria’s aviation sector is poised for growth following the Federal Government’s signing of the Cape Town Convention, an energy and aviation expert, Mr. Dare Osamo, has said.
Osamo, the Managing Director of Impact Energy, commended the administration of President Bola Tinubu for what he described as a strategic policy decision aligned with the Renewed Hope Agenda.
The convention, organised by the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo (SAN), is expected to improve aircraft leasing conditions for local airlines, unlock investment opportunities, and boost confidence in Nigeria’s aviation market.
According to Osamo, the Cape Town Convention provides a globally recognised legal framework that protects the interests of aircraft lessors and financiers, particularly in asset recovery and enforcement of rights, thereby addressing structural challenges that have historically limited the growth of indigenous airlines. He noted that access to leased aircraft has long been a major hurdle for Nigerian operators due to perceived legal and regulatory risks. With the convention in place, he said, airlines would be able to lease aircraft more easily, secure better terms, and reduce operational costs.
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Osamo explained that the development is likely to lead to organic growth in local fleets, improved service delivery, and a more competitive aviation industry.
He added that fleet expansion would also stimulate economic activities across the aviation and energy value chains, increasing demand for aircraft parts, maintenance services, aviation consumables and jet fuel while creating employment opportunities for engineers, technicians, fuel suppliers, and logistics providers.
The expert further stated that improved access to aircraft would enable airlines to open new domestic and regional routes, particularly to underserved destinations, enhancing connectivity, stimulating commerce, and supporting national development.
Osamo also acknowledged the role of the Minister of Aviation in driving reforms aimed at revitalising the sector, noting that Keyamo’s engagement with international stakeholders and focus on regulatory clarity have helped restore credibility to Nigeria’s aviation ecosystem.
