Nigeria’s global compliance rating has experienced a significant boost following the country’s swift adoption of the Cape Town Convention (CTC) Practice Direction on the dry leasing of aircraft.

The Aviation Working Group (AWG), co-chaired by Boeing and Airbus, promptly elevated Nigeria’s compliance score from 49 to 70.5, marking a historic high for the nation.

Tunde Moshood, Senior Adviser for Media and Communications to the Honourable Minister of Aviation and Aerospace Development, Mr Festus Keyamo released a statement on Wednesday highlighting the importance of this development.

“This is the largest score Nigeria has attained to date, providing comfort to financiers and the global leasing industry,” Moshood stated.

He also noted that further improvements are expected in the coming weeks as the Minister has directed the Nigerian Civil Aviation Authority (NCAA) to amend its administrative rules, known as IDERA, to fully align with the Convention, thereby enhancing confidence among financiers and lessors worldwide.

The Aviation Working Group, headquartered in London and New York, lauded the efforts of the Aviation Minister and his team for their dedication over the past few months in making this achievement possible.

In an email received by the Nigerian aviation authorities, the AWG expressed its readiness to increase Nigeria’s score further once the country adjusts its administrative rules and the courts begin to apply the Practice Direction.

The rapid adjustment in Nigeria’s global rating is seen as a positive step in the country’s aviation sector, indicating a commitment to international standards and practices that foster trust and investment in the industry.