Nigeria and the African Development Bank have signed a letter of intent to operationalise the Integrated Aviation Transformation Programme for Africa.
The agreement was signed on Thursday in Brazzaville, Congo, by Festus Keyamo, Minister of Aviation and Aerospace Development, on behalf of Nigeria. The signing followed a dialogue session with the AfDB president and governors.
Keyamo, who was appointed African champion for the $7 billion programme on May 27, presented Nigeria’s country compact for the aviation sector during the meeting. He also outlined President Bola Tinubu’s aviation agenda and highlighted the potential of the newly approved Nigeria Aircraft Leasing Company.
The minister called on the bank to mobilise capital for the initiative, saying the leasing company could serve as a model for other African countries. He noted that Nigeria had prepared for the programme by domesticating the Cape Town Convention, updating the irrevocable deregistration and export request authorisation, and reforming aviation insurance policies to meet global standards.
The AfDB president welcomed the presentation and reaffirmed the bank’s commitment to the success of the programme in Africa and Nigeria.
