The Federal Government has moved to implement the Cape Town Convention Protocol on International Interests in Mobile Equipment and the Protocol on Matters Specific to Aircraft Equipment to unlock investment opportunities in Nigeria’s aviation sector.
Speaking at a stakeholders’ conference organized by the Nigerian Civil Aviation Authority (NCAA), Vice President Sen. Kashim Shettima, represented by the Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), said the Cape Town Convention has not only enhanced Nigeria’s global standing in aviation but also opened doors to increased investment and growth in aviation financing.
“These initiatives have streamlined legal processes, enhanced jurisdictional clarity, and improved Nigeria’s compliance index, positioning our nation among global leaders in aviation governance,” he assured.
The Vice President revealed that Nigeria’s deliberate implementation of the Cape Town Convention protocols has excited investors, attracting them to invest in the country.
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He also highlighted that the recently issued Federal High Court Practice Directions and Advisory Circular on the Cape Town Convention marked significant milestones in Nigeria’s alignment with international best practices.
On his part, the Acting Director-General of the NCAA, Capt. Chris Najomo, noted that the conference theme underscored the importance of the Cape Town Convention and its Aircraft Protocol as essential instruments for promoting growth, stability, and resilience in the aviation industry.
“As we convene here today, we are reminded of the immense opportunities this Convention offers in enhancing aviation financing, safeguarding creditor rights, and fostering a more predictable and sustainable legal environment for our industry.
“As you are all aware, Nigeria’s aviation sector holds great potential for driving economic transformation, connecting communities, and promoting regional integration.
“The benefits of these efforts are already evident. Nigeria’s improved ranking on the Aviation Working Group’s Cape Town Convention Compliance Index is a testament to our progress,” he stated.
