Festus Keyamo, minister of Aviation and Aerospace Development, has unveiled plans to modernise the country’s aviation infrastructure and attract international investment.
Speaking at the Airline Economics Growth Frontiers Global conference in Dublin, Ireland, the minister said that Nigeria was taking bold steps to position itself as a leading player in the global aviation sector.
Keyamo also emphasised the Federal Government’s commitment to creating an enabling environment for investors to concession major airports, including Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja.
“Initiated measures to reduce operational bottlenecks, including reviewing airport concession agreements to improve efficiency, have been put in place, There is a need to expand Lagos and Abuja airports to enhance capacity and passenger experience,”
The minister highlighted significant progress in Nigeria’s aviation sector under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
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He noted the removal of Nigeria from the global aviation blacklist through the signing of the IDERA (International Registry of Aircraft Equipment) agreement, which has boosted global confidence in the sector.
Keyamo also addressed key industry concerns during the event, including airline insurance placement, the reliability of Nigerian airlines in meeting financial obligations, and the government’s approach to withholding tax policies. He showcased Nigeria’s plans to establish global-standard Maintenance, Repair, and Overhaul (MRO) facilities to make aircraft maintenance more cost-effective.
According to him, the country’s improved Cape Town Convention index, which rose from 49 to 75.5 due to recent policy reforms, has further increased confidence among lessors and financiers. This development, Keyamo explained, reflects Nigeria’s dedication to fostering economic growth through aviation.
To bolster international collaboration, he said the government has signed a Memorandum of Understanding (MoU) with Boeing for safety improvements, operational efficiency, talent development, and infrastructure enhancements.
These partnerships, alongside efforts to unify aviation stakeholders and increase the participation of local financing institutions, are expected to drive the sector’s growth.
“Nigeria’s strategic location and population make it an ideal aviation hub for West Africa,” Keyamo said, urging global financiers to support the concession of Nigerian airports.
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