FG to partner global lessors to advance domestic airline growth – Keyamo
The Federal Government says it is deepening partnerships with global lessors and financiers to support Nigeria’s domestic airline growth and fleet renewal.
Mr Festus Keyamo, Minister of Aviation and Aerospace Development, made this known on Thursday in a telephone interview with the News Agency of Nigeria (NAN).
According to the minister, the Federal Government is ready to improve its stakeholders’ engagement and prioritise a thriving aviation ecosystem that is globally competitive, inclusive, and resilient.
Keyamo said he would soon lead a team from the aviation sector in Nigeria to attend the “Boeing Lessor Forum” in Dublin, Ireland, from Jan. 12 to Jan. 15, as part of efforts to achieve the feat.
He explained that the “Boeing Lessor Forum“ would take place alongside the “Airline Economics Growth Frontiers Global Conference“ at the same venue in Dublin.
“This pivotal event highlights Nigeria’s ongoing commitment to fostering growth and sustainability in the aviation sector under the visionary leadership of President Bola Tinubu.
“The Boeing Lessor forum presents a unique opportunity to showcase these reforms while forging strategic alliances that will propel Nigeria’s aviation sector forward.
“I expect active participation and collaboration by the delegation to unlock innovative leasing and financing solutions tailored to our shared goals,” he said.
The minister further urged the delegation to utilise the platform to communicate any inquiries or logistical needs by ensuring a seamless and productive engagement for all.
According to him, the Renewed Hope Agenda of the present administration is to strengthen adherence to international protocols, including the “Cape Town Convention“, to boost investor confidence.
Kayamo also said the Federal Government would intensify efforts toward strategic investments in airport modernisation and air navigation systems to enhance safety and efficiency.
“We are already advancing training programmes to develop local talent and sustain industry growth,“ the minister added.
NAN reports that the Cape Town Convention provides creditors with internationally recognised rights in the event of a debtor’s default or insolvency.
It also reduces risks of lending for aircraft financiers and other parties involved in aircraft purchasing and leasing.
NAN further reports that the convention’s primary goal is to protect the interests of sellers, purchasers, and creditors by establishing an international registry for recording interests in mobile equipment. (NAN)
