Global aviation group raises Nigeria’s rating to 70.5% on CTC compliance

Sade Williams/Business a.m.

The global aviation group known as Aviation Working Group (AWG) co-chaired by Boeing and Airbus, aircraft manufacturers, has raised Nigeria’s global score on its compliance status from 49 to 70.5 following the country’s bold attempt to fully comply with the Cape Town Convention (CTC) on dry-leasing of aircrafts by preparing and signing the Practice Direction.

This is the largest score Nigeria has attained till date and it will give comfort to financiers and the leasing world.

There is also potential for further increase in the next few weeks as the minister has directed the Nigeria Civil Aviation Authority (NCAA) to immediately adjust its administrative rules called IDERA to also fully align with the Convention to further boost the confidence of financiers and lessors across the world.

Tunde Moshood, special assistant on media and communications to the minister, in a statement, noted that in an email received Wednesday, the Aviation Working Group in London and New York commended the aviation minister and his team for the ‘time, effort and skill’ they put in the last few months into making this a reality.

They also said they are poised to further increase the score once Nigeria adjusts its administrative rules in the next few weeks and the courts actually begin to apply the Practice Direction.