Nigeria Tasks African Aviators On Transparent Financial Practices

The federal government has charged Africa aviation industry operators to be transparent and responsible in financial practices as part of their obligations in the implementation of Cape Town Convention in Africa.

The Cape Town Convention is  a tool for sustainable aviation growth across Africa.

This is even as Nigeria’s global aviation rating under the Cape Town Convention has surged to 75.5 per cent, marking a major leap in the country’s compliance with international aviation financing standards.

Speaking at the Cape Town Convention African event in Abuja on Tuesday, the minister of aviation and aerospace development, Festus Keyamo said for government to maximise the benefits of the convention, there must be consistent enforcement and stakeholders education.

The two-day event, jointly organised by the Nigeria Civil Aviation Authority (NCAA), the Federal Ministry of Aviation and Aerospace Development, the Aviation Working Group (AWG), and the African Civil Aviation Commission (AFCAC), brought together aviation regulators, financiers, legal experts, and policymakers from across Africa.

The minister noted that the Cape Town Convention, ratified by 28 African countries, had transformed global aircraft financing by reducing credit risks and improving access to capital.

He urged African nations to harmonize their implementation of the Convention, emphasizing that the full benefits would only be realized through collective action and legal coherence across the continent.

“We must ensure it translates into lower financing costs, easier access to modern aircraft, improved investor confidence, and enhanced operational efficiency,” he said.

The director general of the Nigeria Civil Aviation Authority (NCAA), Captain Chris Najomo, represented by Donald Tonye Spiff, Director Operation, Licensing and Training, highlighted that the new compliance milestone followed years of regulatory reforms and judicial strengthening.

He said the Cape Town Convention Practice Directions, signed by Keyamo in September 2024, had provided a clearer framework for adjudicating aircraft financing cases in Nigerian courts.

Also, secretary-general of the Aviation Working Group (AWG), Jeffrey Wool described Nigeria as a “long-term and sustained partner” in the implementation of the Cape Town Convention.

“This is not just a business law treaty, it is one of the most important commercial law frameworks in history.

“Nigeria has played a key role in its development and continues to be a model for other African nations,” Wool said.

Representing, Buhari Abdulfatai, chairman of the Senate Committee on Aviation, Senator Augustine Akobundu reaffirmed the National Assembly’s commitment to fostering a regulatory environment that aligns with international aviation practices.