FG signs Cape Town Convention to lessen aviation cost

FG signs Cape Town Convention to lessen aviation cost

Abdullateef Fowewe

The Federal Government on Thursday, September 12, signed the Cape Town Convention (CTC) Practice Direction in a bid to reduce the cost of doing business in the Nigerian aviation sector.

The development was revealed on Thursday by the Senior Special Assistant to the Vice President of Media and Communications, Stanley Nkwocha.

The CTC will reduce the cost of doing business in the Nigerian aviation sector, and the cost of insuring airlines and enable domestic airline operators to dry lease aircraft.

The CTC Practice Direction was signed by the Chief Judge of the Federal High Court, Justice John Terhemba Tsoho, during a stakeholders’ meeting of the Presidential Enabling Business Environment Council (PEBEC) chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja on Thursday.

The statement reads, “The Federal Government today signed the Cape Town Convention (CTC) Practice Direction in a bid to reduce cost of doing business in the Nigerian aviation sector, cost of insuring airlines and to enable domestic airline operators to dry lease aircraft, among others.

“The CTC Practice Direction was signed by the Chief Judge of the Federal High Court, Justice John Terhemba Tsoho, during a stakeholders’ meeting of the Presidential Enabling Business Environment Council (PEBEC) chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.

“The signing of the CTC Practice Direction will ensure the Cape Town Convention becomes fully operational in Nigeria, thereby reducing the cost of insurance for airlines, restoring investors’ confidence in the Nigerian aviation sector and reducing the cost of doing business in the nation’s aviation sector.”