Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo has lauded the impact of the Cape Town Convention (CTC) on aircraft financing and leasing.
Keyamo described it as a game-changer that has created a predictable, transparent, and enforceable legal framework, reducing credit risks and improving access to capital.
Speaking at the “Maximising the Cape Town Convention Africa Event” held in Abuja, the Minister said the Convention has significantly reshaped aviation financing across Africa.
He noted that access to affordable capital remains one of the continent’s greatest challenges in aviation expansion and maintenance.
However, Keyamo said “the CTC provides a beacon of opportunity, signalling to investors and financiers that Africa is progressing towards stronger legal and regulatory frameworks.”
“Our legal systems are reliable, our markets are stable, and our governments are committed to best practices in aviation asset management and protection.
“Today, 28 African countries have ratified the Convention, reflecting a continental recognition that the CTC is not just a legal instrument; it is a catalyst for aviation growth, economic transformation, and connectivity across Africa,” he said.
The Minister said that Nigeria’s Aviation sector continues to evolve with an “unshakable resolve” to align with international standards.
“The Cape Town Convention offers Africa not just an opportunity to access aircraft more affordably, but also a framework to build trust, stability, and sustainability in our continent’s aviation ecosystem,” he stated.
He was represented by the Director of the Human Resources Department, Anastasia Gbem.
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Similarly, the Secretary General of the Aviation Working Group, Jeffrey Wool described the CTC as “more than a business law treaty.”
“The Cape Town Convention represents and embodies a transformation of the aviation industry in space and time — and Nigeria, alongside many other countries here, has played a key role in that process,” Wool said.
In his remarks, the Permanent Secretary of the Federal Ministry of Aviation and Aerospace Development, Dr. Ibrahim Kana emphasised that Nigeria’s Aviation Industry is largely private-sector driven, with the current administration providing robust support to enable growth and innovation.
He said that “despite challenges faced by private operators, the Nigerian government remains committed to sustaining Nigeria’s position as Africa’s leading aviation hub.
“Nigeria, being a signatory to this treaty, is more than ready to implement it to its fullest.
“Hosting this event is a clear declaration and testimony that we are indeed ready to adhere strictly to the Cape Town Convention, as clearly enumerated.”