Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday in Brazzaville, Congo, participated in a high-level dialogue session with the President and Governors of the African Development Bank (AfDB), as part of his role as African Champion of the Bank’s Integrated Aviation Transformation Programme (IATP).
At the session, the Minister highlighted the vast opportunities embedded in the AfDB’s $7 billion IATP initiative, emphasising its transformative potential for Africa’s aviation sector, with particular benefits for Nigeria.
Keyamo also presented President Bola Tinubu’s Renewed Hope Agenda for the aviation industry, outlining strategic reforms and investment opportunities. Central to his presentation was the newly approved Nigeria Aircraft Leasing Company, for which he sought AfDB’s financial support, describing it as a model that could be replicated across other African countries.
He further underscored Nigeria’s preparedness for such investments, citing critical reforms including the domestication of the Cape Town Convention, updates to the Irrevocable Deregistration and Export Request Authorisation (IDERA), and the overhaul of aviation insurance frameworks to align with global standards.
The AfDB President commended the Minister’s presentation and reaffirmed the Bank’s commitment to the successful implementation of the IATP across Africa, with strong support for Nigeria’s aviation ambitions.
Following the dialogue, the Minister unveiled Nigeria’s Aviation Sector Country Compact and proceeded to sign a Letter of Intent (LOI) with the AfDB on behalf of the Federal Republic of Nigeria. The agreement signals both parties’ commitment to collaboratively drive the operationalisation of the IATP and accelerate aviation sector development on the continent.