Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has declared that comprehensive legal and regulatory reforms have “cleared the runway” for international investment into the country’s aviation sector.
The minister made the announcement during his keynote address at the Nigeria-Belgium-Luxembourg Business Forum, an event convened to foster economic cooperation and mutual prosperity, which was held in Brussels on Wednesday, 22 October 2025.
Addressing an audience of distinguished guests, aviation experts, and valued members of the international business community, Keyamo who was represent by the DG NCAA, Captain Chris Najomo, positioned aviation as a vital engine for Nigeria’s economic transformation.
He detailed a series of strategic reforms designed to mitigate risk and bolster investor confidence, presenting Nigeria as a premier destination for aviation capital.
“Nigeria’s aviation sector stands at a pivotal crossroads, poised for transformative advancement,” Keyamo stated, outlining the vision under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He emphasized that the government’s objective is clear: “to establish Nigeria as a premier global aviation hub, delivering seamless, safe, and efficient air travel experiences that meet international standards.”
A cornerstone of this transformation, the minister explained, is the full implementation of robust international legal frameworks. He highlighted Nigeria’s ratification of the Cape Town Convention as a landmark achievement that has fundamentally improved the landscape for aircraft financing. “By providing legal certainty for asset-backed financing, the Convention has mitigated investment risks, bolstered lender confidence, and streamlined aircraft acquisition processes, making them more cost-effective for Nigerian operators,” Keyamo said.
Further solidifying this investor-friendly environment is the adoption of the Irrevocable Deregistration and Export Request Authorization (IDERA). The minister described this as a critical safeguard for lessors and financiers. “The Irrevocable Deregistration and Export Request Authorization (IDERA) is a critical safeguard for investor security, ensuring financiers retain the right to repossess aircraft in case of default,” he told the forum.
He affirmed that this mechanism “has strengthened Nigeria’s credibility among international lessors and financial institutions, reinforcing a transparent, investor-friendly aviation framework.”
With these foundational reforms in place, the minister shifted focus to the concrete opportunities now available for investment. He invited partners from Belgium, Luxembourg, and across Europe to engage in key areas, including the establishment of world-class Maintenance, Repair, and Overhaul (MRO) facilities, the optimization of cargo logistics, and Green Aviation Projects. “We therefore invite our partners here in Belgium, Luxembourg, and across Europe to join us in this journey, to co-invest, co-innovate, and co-develop the infrastructure, technology, and human capital that will define the next generation of aviation in Africa,” Keyamo stated.
In his concluding remarks, the minister expressed his gratitude to the forum’s organizers and struck an optimistic tone about the future. He reaffirmed Nigeria’s commitment to building a sector that is not only profitable but also sustainable and inclusive. “The horizon is wide. The runway is clear,” Keyamo declared. “Now is the time for partnerships to take flight.”
The event concluded with a reinforced commitment to international economic collaboration. Among the key attendees from Nigeria were Governor Seyi Makinde of Oyo State and Governor Abdullahi Sule of Nasarawa State.
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