Keyamo Presents Nigeria's Aviation Financing Reforms in London

At the Aviation Working Group meeting in London, Nigeria's Minister of Aviation and Aerospace Development, Keyamo, showcased the country's recent aviation financing reforms aimed at enhancing Nigeria's position as a reliable destination for aircraft financing and leasing transactions. He expressed appreciation for the support of the Aviation Working Group, particularly acknowledging Jeffrei Wool's leadership.

Keyamo highlighted Nigeria's commitment to the Cape Town Convention, noting that compliance has improved from 49% to 70.5% as of September 2024. He stated that 80% of aircraft operated within Nigeria are acquired through leasing arrangements.

Keyamo also mentioned the successful deregistration of exported aircraft and the establishment of a Nigerian aircraft leasing company, which is expected to unlock over a billion dollars in future fleet financing. Despite recognizing operational challenges, including customs issues and foreign exchange volatility, he assured stakeholders of the federal government's commitment to addressing these challenges through coordinated reforms.