Aviation Sector Gets Boost as Keyamo Officially Signs IDERA
The Ministry of Aviation and Aerospace Development, Festus Keyamo, has officially signed the procedure for Recordation of Irrevocable Deregistration and Export Request Authorisation (IDERA) updated by the Nigerian Civil Aviation Authority (NCAA).
According to the Minister, this development will improve Nigeria’s reputation in the global aviation industry, making it a more attractive destination for aircraft lessors and financiers.
Keyomo said this on Wednesday in Federal Capital Territory (FCT), Abuja, during the official signing of the documents.
“Previous administrations overlooked critical aspects of the aviation industry that hindered the smooth operation of leasing and aircraft financing. Specifically, the absence of judicial and administrative frameworks for resolving disputes between lessors and lessees left Nigeria blacklisted by the international aviation community however, this administration has addressed the issue.
“Earlier this year, we signed a practice direction that guides the judiciary in interpreting the Cape Town Convention and related protocols. This practice direction has brought judicial certainty, ensuring swift and clear decisions on aviation disputes.
“Today, we are addressing the administrative aspect of this process. When the aircraft’s lease expires, the lessee can apply to the NCAA for deregistration, allowing the aircraft to be exported. This process is crucial for ensuring that lessors can recover their aircraft if necessary,” he stated.
Speaking further the minister underscores that it provides an alternative to solving disputes without necessarily going to court, bringing the nation inline with global best practices while opening windows of opportunities for the aviation sector.
His words, “There are two primary remedies available to lessors: the judicial remedy, where they approach the courts for an order to release their aircraft, and the administrative route, where they apply directly to the NCAA for deregistration and export authorisation, which is what we are formalising today.
“The signing of this circular will bring Nigeria in line with global best practices, making it a safer and more attractive destination for aircraft lessors and financiers. We are confident that this will unlock significant opportunities for the Nigerian aviation sector.
On his part,nthe Director General NCAA, Captain Chris Ona Najomo, acknowledged the effort of the Minister stating that this will improve operational capacity in the country.
“Nigeria has been a signatory to the Cape Town Convention and its associated aircraft protocol since November 1, 2015 which governs the registration, deregistration, and export of aircraft, but the smooth execution of this process has faced challenges due to judicial pronouncements and unwillingness on the part of some lessors therefore, Nigeria is obligated to ensure smooth coordination between lessors and lessees.
“The Honourable Minister of Aviation and Aerospace Development has taken decisive steps to address these issues, and this gathering today marks a key moment in those efforts.
“In line with this, the NCAA has issued a circular providing guidance on the regulatory requirements and procedures for the deregistration and export of aircraft, including the necessary administrative steps. The goal is to make it easier for airlines to access dry-leased aircraft and boost operational capacity,” he said.
