Nigeria’s aviation global rating rises to 70.5 after signed Cape Town Convention

Nigeria’s aviation rating has seen a significant increase, soaring to 70.5, following the country’s full compliance with the Cape Town Convention on the dry-leasing of aircraft.

Tunde Moshood, the Special Adviser on Media and Communications to the Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this in a statement on Wednesday.

The Aviation Working Group, co-chaired by industry giants — Boeing and Airbus, raised Nigeria’s compliance score from 49 to 70.5, the highest score Nigeria has achieved to date.

“The Aviation Working Group (co-chaired by Boeing and Airbus) has today swiftly adjusted the global score/rating of Nigeria on our compliance status from 49 to 70.5.

“This is the largest score Nigeria has attained to date to give comfort to financiers and the leasing world. There is also potential for further increase in the next few weeks as the minister has directed the NCAA to immediately adjust its administrative rules called IDERA to also fully align with the Convention to further boost the confidence of financiers and lessors across the world,” the statement read.

This improved rating comes as a result of the Nigerian government preparing and signing the Practice Direction for the CTC.

The boost is seen as a vote of confidence from international financiers and lessors in Nigeria’s aviation industry.

In an email sent to the Nigerian Ministry of Aviation, the AWG based in London and New York commended the ministry’s efforts.

“The Aviation Working Group in London and New York commended the aviation minister and his team for the ‘time, effort and skill’ they put in the last few months into making this a reality.

“They also said they are poised for further increase the score once Nigeria adjusts its administrative rules in the next few weeks and the courts begin to apply the Practice Direction,” the group said.

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