:

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

In a press release by Tunde Moshood,Special Assistant,Media and Communications to the Minister of Aviation and Aerospace Development, this is the largest score Nigeria has attained till date to give comfort to financiers and the leasing world.

The release indicated that there is also potential for further increase in the next few weeks as the Minister has directed the Nigerian 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.

According to the release,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 for further increase the score once Nigeria adjust its administrative rules in the next few weeks and the courts  actually begin to apply with the Practice Direction.