Minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday signed a Letter of Intent between the African Development Bank and the Federal Government of Nigeria aimed at operationalising the bank’s Integrated Aviation Transformation Programme for Africa.
The signing took place in Brazzaville, where Keyamo participated in a high-level dialogue session with the President and Governors of the AfDB in his capacity as African Champion of the Integrated Aviation Transformation Programme (IATP).
According to a statement issued by his Special Adviser on Media and Communications, Tunde Moshood on Thursday, the agreement commits both parties to work towards implementing the aviation development initiative across Africa, with Nigeria expected to play a leading role.
During the meeting, Keyamo highlighted opportunities embedded in the proposed $7 billion aviation transformation plan and outlined the Federal Government’s vision for the sector under President Bola Tinubu’s Renewed Hope Agenda.
The minister also presented the potential of Nigeria’s aviation industry and emphasised the importance of the newly approved Nigeria Aircraft Leasing Company.
He urged the AfDB to mobilise funding support for the initiative, describing it as critical to strengthening Nigeria’s aviation ecosystem and reducing dependence on foreign leasing arrangements.
Keyamo explained that Nigeria’s aviation reform agenda could serve as a model for other African countries seeking to modernise and reposition their aviation sectors.
According to him, Nigeria has already completed several foundational reforms necessary for the successful implementation of the programme.
He stated that the country had domesticated the Cape Town Convention, updated its IDERA framework, and reviewed aviation insurance policies to align with international industry standards.
“Nigeria had done the groundwork to enable the take-off of the initiative, including domesticating the Cape Town Convention, updating its IDERA and reworking its aviation insurance policies to meet global industry standards,” the statement noted.
President of the AfDB, Sidi Ould Tah, reportedly expressed satisfaction with Nigeria’s presentation and pledged support for the success of the aviation transformation programme across Africa, particularly in Nigeria.
Following the dialogue session, Keyamo formally unveiled the Country Compact for Nigeria’s aviation sector before proceeding to the signing ceremony of the Letter of Intent between Nigeria and the AfDB.
The Integrated Aviation Transformation Programme is designed to strengthen aviation infrastructure, improve connectivity, enhance safety standards and unlock investment opportunities across the African aviation sector.