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Nigeria has reaffirmed its commitment to the full implementation of the Cape Town Convention (CTC) a key international legal framework designed to ease aircraft financing and leasing.
Speaking at the opening of a two-day CTC- Africa event in Abuja on Tuesday, the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo (SAN), described the convention as a strategic convergence of minds and institutions committed to deepening Africa’s participation in global aviation financing.
Represented by the Director of Human Resources and Administration at the Nigerian Civil Aviation Authority (NCAA) Dr (Mrs) Anastasia Gbem, the Minister disclosed that Nigeria’s compliance rating under the Cape Town Convention had improved from 70.5 percent to 75.5 percent.
He attributed the growth to the operationalisation of the Irrevocable Deregistration and Export Request Authorization (IDERA) and the issuance of Practice Directions for the Federal High Courts.
To him, the development showed the government’s commitment to aligning Nigeria’s aviation sector with international best practices, enhancing investor confidence, and improving access to financing for local airlines. “This improvement reflects our unwavering commitment to implementing the Convention in both substance and practice. “Nigeria is open for business on globally accepted terms,” Keyamo said.
The Minister further emphasised that the CTC presented a beacon of opportunity for African nations to lower financing costs, improve fleet modernization, and enhance operational efficiency across the continent’s aviation sector.
The Director-General and Chief Executive Officer of NCAA, Capt. Chris Najomo, highlighted Nigeria’s journey since acceding to the CTC on December 16, 2003.
Represented by the Director in charge of Operations, Licensing and Training, Capt. Donald Spiff, the NCAA Boss noted that poor compliance in past years had affected Nigeria’s international standing, even leading to blacklisting by the Aviation Working Group.
“However, under the current administration’s reforms, the country has recorded significant progress,” Najomo said.
Najomo explained that the signing of the Practice Directions on September 12, 2024, marked a turning point for Nigeria’s aviation legal framework, ensuring judicial consistency and enhancing investor confidence.
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“Legal certainty is inseparable from economic growth. “Hosting this event affirms the link between both.
“The success of the CTC in Nigeria depends on regional and global collaboration,” Najomo stressed.
He added that the NCAA would continue to uphold the highest safety and security standards while strengthening the legal and regulatory frameworks that support aviation growth.
Also speaking, Secretary-General of the Aviation Working Group (AWG), Mr Jeffrey Wooo, described CTC as “the most important business law treaty in commercial law history.”
Wooo, whose organisation is co-chaired by Airbus and Boeing, recalled that AWG’s partnership with Nigeria dated back to 1999.
He noted that the current event reflected the country’s sustained commitment to bridging the gap between global best practices and national realities.
“It is critical that we bring together international thinking behind the treaty with national realities. Nigeria has been a long-term, sustained partner in this process,” he stated.
Over the two-day event, participants are expected to deliberate on key implementation challenges, including judicial interpretation, harmonisation of national laws, and the role of civil aviation authorities in ensuring compliance.
Adopted in 2001, the CTC on International Interests in Mobile Equipment and its Aircraft Protocol provide a uniform legal framework to protect the interests of financiers and lessors in high-value mobile assets, including aircraft and engines.
