Nigeria Signs Aviation Development Pact With AfDB
Nigeria has signed a Letter of Intent with the African Development Bank as part of efforts aimed at advancing aviation development across Africa.
The agreement was signed on Thursday in Brazzaville, Congo, by the Minister of Aviation and Aerospace Development, Festus Keyamo, during a high-level dialogue session involving the President and Governors of the AfDB.
According to a statement issued by the minister’s Special Adviser on Media and Communications, Tunde Moshood, Keyamo attended the meeting in his capacity as the African Champion of the Integrated Aviation Transformation Programme of the AfDB.
During the session, the minister outlined opportunities available through the bank’s proposed $7bn aviation programme for Africa, while also presenting Nigeria’s aviation reform agenda under President Bola Tinubu’s Renewed Hope initiative.
Keyamo highlighted the Federal Government’s plans to strengthen the aviation sector through the newly approved Nigeria Aircraft Leasing Company, noting that the initiative would require financial backing and investment support from the AfDB.
He explained that Nigeria had already implemented several reforms to create a more attractive environment for aviation investment. These include the domestication of the Cape Town Convention, updates to the Irrevocable Deregistration and Export Request Authorisation framework, as well as reforms in aviation insurance policies.
The minister said the measures would not only support Nigeria’s aviation industry but could also serve as a model for other African countries seeking sector-wide transformation.
The statement added that the President of the African Development Bank expressed support for the aviation transformation programme and reaffirmed the bank’s commitment to its implementation across Nigeria and other African nations.
Keyamo also unveiled Nigeria’s Country Compact for the aviation sector during the event, describing it as part of broader efforts to modernise the industry and attract long-term investment into the country’s aviation ecosystem.
