Aviation Working Group increases Nigeria’s global rating
By Dickson Omobola
Barely a week after the Federal Government signed the Cape Town Convention, CTC Practice Directions, the Aviation Working Group, co-chaired by aircraft manufacturers, Boeing and Airbus, Wednesday, increased Nigeria’s global rating from 49 to 70.5.
A statement by Mr Tunde Moshood, Special Assistant on Media and Communications to Minister of Aviation and Aerospace Development, Mr Festus Keyamo, stated that the Aviation Working Group revealed this in an exclusive email to the minister.
Moshood said following the new rating, Nigeria’s relationship with lessors and financiers had been enhanced.
Moshood also said there was a potential for further increment given that the minister had directed the Nigerian Civil Aviation Authority, NCAA, to adjust its administrative rules to fully align with the CTC.
The statement reads: “In a swift response to Nigeria’s bold attempt to fully comply with the Cape Town Convention on dry-leasing of aircrafts by preparing and signing the Practice Direction, the Aviation Working Group (Co-chaired by BOEING AND AIRBUS) has today swiftly adjusted the global score/rating of Nigeria on our compliance status from 49 to 70.5. 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 also fully align with the Convention to further boost the confidence of financiers and lessors across the world.
“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 actually begin to apply the Practice Direction.”
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