NCAA commits to full implementation of Cape Town Convention to boost Nigeria’s aviation sector
Nigeria Civil Aviation Authority NCAA
Abdullateef Fowewe
The Nigerian Civil Aviation Authority has pledged to fully implement the Cape Town Convention.
The NCAA Acting Director General, Captain Chris Najomo speaking at a conference in Abuja, emphasised that the Convention will enhance aviation financing, protect creditor rights, and align Nigeria’s aviation industry with global standards.
Najomo said, “The theme of this conference underscores the importance of the Cape Town Convention and its Aircraft Protocol as essential instruments for promoting growth, stability, and resilience in the aviation industry.”
Najomo praised the leadership of President Bola Tinubu and Minister of Aviation and Aerospace Development, Festus Keyamo for their commitment to modernising the sector.
He highlighted the Convention’s role in promoting growth, stability, and international investment in Nigeria’s aviation landscape.
“The Cape Town Convention aligns seamlessly with this agenda, offering a pathway to modernizing our aviation sector and ensuring its contribution to Nigeria’s prosperity. Nigeria’s aviation sector holds great potential for driving economic transformation, connecting communities, and promoting regional integration. The benefits of these efforts are already evident. Nigeria’s improved ranking on the Aviation Working Group’s Cape Town Convention Compliance Index is a testament to our progress,” he noted.
Outlining the key objectives of the Cape Town Convention, Najomo said “It will streamlined aircraft transactions and facilitates assets based financing: simplifies the process of buying, selling, and leasing aircraft on an international scale. By protecting creditors’ rights and ensuring the enforceability of interests in mobile equipment, the Convention encourages investment and reduces the cost of financing.
“Improves Legal consistency and International Registry: The Convention establishes a centralized electronic registry for registering interests, offering transparency and public notice. It also harmonizes the treatment of security interests across participating nations, further ensuring repossession and recovery rights for lessors and lenders in case of defaults.
“Promotes Industry Standards: Aligns national regulations with global best practices, supporting the aviation industry’s growth and stability. fostering confidence among international investors and financiers.”
He thereby reiterated the NCAA’s commitment to implementing the Cape Town Convention to its fullest potential.
“To support the Honourable Minister’s efforts; The NCAA issued an Advisory Circular dated 16th October, 2024 to provide information and guidance on the civil aviation regulatory requirements and procedures for recording and cancelation of de-registration of aircraft and exporting aircraft, including aircraft objects located in Nigeria, for purposes of any export remedies.
“As we embark on these discussions, let us remain focused on our shared vision of excellence. Together, we can build a resilient, competitive, and globally recognised aviation sector that reflects the aspirations of our Great Nation, Nigeria,” he summed up.
