Nigeria global aviation rating rises to 70.5% after CTC practice direction compliance 

Last week, the signing of the Cape Town Convention Practice Direction by the Federal Government shot up the country’s image from 49 per cent to 70.5 per cent by the global aviation sector.

In a swift response to Nigeria’s bold attempt to fully comply with the Cape Town Convention on dry-leasing of aircraft by preparing and signing the Practice Direction, the Aviation Working Group (Co-chaired by Boeing and Airbus) on Wednesday swiftly adjusted the global score/rating of Nigeria on our compliance status from 49 to 70.5.

Special Assistant, Media and Communications to the Minister of Aviation and Aerospace Development, Mr. Tunde Moshood said this is the largest score Nigeria has attained to date to 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 NCAA  to immediately adjust its administrative rules called IDERA to fully align with the Convention to boost the confidence of financiers and lessors further worldwide.

In an email received this evening, 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 begin to apply the Practice Direction.

In the past, some operators rushed to seek an injunction in a law court, making it extremely difficult for repossession.

This earned the country opprobrium, leading to a blacklist by aircraft lessors, particularly the Aviation Working Group, co-chaired by Airbus and Boeing.

The operators’ default to adhere to the terms and conditions of aircraft lessors made it extremely difficult to trust the country’s operators with their airplanes because of the fear of not getting them back again and in the same condition as before the lease.

Thursday last week, the Federal Government signed the Cape Town Convention (CTC) Practice Directions.

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.

Many stakeholders have expressed joy with the CTC Practice Direction and lauded the Federal Government for taking the Cape Town Convention treaty a notch further saying it would help the airlines to acquire more aircraft, reduce the high premium on insurance for leased aircraft and generally revitalize the sector.

Wole Shadare