Nigeria’s global aviation rating has significantly improved, rising from 70% to 75.5%, following the government’s adoption of the Cape Town Convention (CTC) Practice Direction.
This is the second rating upgrade since the Minister of Aviation and Aerospace Development took office two years ago.
This legal framework, signed by the Chief Judge of the Federal High Court in 2023, is designed to protect the interests of aircraft lessors and financiers by making it easier for them to repossess planes if airlines default on payments.
The announcement was made on Tuesday by Minister of Aviation and Aerospace Development, Festus Keyamo (SAN) at the ongoing two days Cape Town Convention summit in Abuja.
Full details shortly
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