Sade Williams/Business a.m.
Nigeria is making serious moves for sustainable aviation fuel (SAF) development by taking the lead in the quest for access to finance with the inauguration of six technical working groups to guide it in several areas towards the development of the project.
The major leap took place when Nigeria hosted the high-level regional workshop on Access to Finance for Sustainable Aviation Fuel (SAF) Production in Lagos, recently.
The event was organised by the Nigeria Civil Aviation Authority (NCAA) in collaboration with the National Council on Climate Change Secretariat (NCCCS) and the European Union Aviation Safety Agency (EASA) under the Assistance, Capacity Building and Training for Sustainable Aviation Fuels (ACT-SAF) Africa–India Project.
The workshop which had as its theme, “Access to Finance for SAF Production”, brought together stakeholders from 14 African countries, international financial institutions, and SAF project developers to address investment challenges, risk mitigation, and project bankability on SAF.
The Nigeria Engagement on SAF was held on the last two days, with focus on Nigeria’s domestic roadmap.
“The major highlight was the official inauguration of six Technical Working Groups (TWGs) by the director general of NCAA, Chris Najomo.
“They are: Policy and Regulation Feedstock and Production; Funding and investment; Technology and innovation; Environmental and Social Impact and Infrastructure and logistics.
“The TWGs will guide Nigeria’s SAF development across policy, feedstock, infrastructure, finance, sustainability, and technology.”, a statement by Michael Achimugu, Director Public Affairs and Consumer Protection, NCAA said.
The engagement marks a major step in Nigeria’s transition towards the development of Sustainable Aviation Fuels.
The key objectives of the hybrid workshop tagged “ACT-SAF EU – African Indian Project (Part II)” confronted the realities from SAF Project Developers and Financiers, discussed different de-risking strategies and the role of all actors in achieving viable SAF production in Africa.
Others are enhancing the understanding of SAF Direct Supply Line and its (financial) assessment tools; sharing best practices in financial practices; identifying and mapping key stakeholders in the finance space; and discussing available financial instruments in support of SAF development.
Najomo, represented by Bukola Teriba, regional manager, Lagos office, stressed on the critical importance of access to finance for SAF production projects as well as its importance in reducing the environmental impact of aviation, which aligns with ICAO’s Long-Term Aspirational Goal (LTAG) on net zero carbon emission by 2050.
