The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced major reforms to attract international investors, particularly for its two biggest airports in Lagos and Abuja. The announcement came during the Airline Economics Growth Frontiers Global conference in Dublin, Ireland.
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Speaking on Monday, Keyamo revealed that Nigeria’s Cape Town Convention index has jumped from 49 to 75.5, marking a crucial improvement in the country’s aviation investment climate. This increase signals enhanced protection for aircraft lessors and could boost confidence in Nigeria’s aviation market.
The government’s reform agenda includes a newly signed partnership with Boeing, focusing on safety improvements, operational efficiency, and infrastructure development. A key component of this collaboration the minister revealed, is the development of Maintenance, Repair, and Overhaul (MRO) facilities, addressing a critical gap in Nigeria’s aviation infrastructure.
“We’ve streamlined policies to create an enabling environment for investors,” Keyamo told the gathering of global aviation financiers. He added that there is a need to expand Lagos and Abuja airports to enhance capacity and passenger experience.
He said that the reforms extend beyond infrastructure to include partnerships with airlines, insurance industries, and regional banks. The government has established multiple platforms to unify aviation stakeholders and increase local financing institutions’ participation, marking a shift toward a more integrated approach to aviation development. The Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja, the country’s busiest airports, are central to this transformation plan.
The event, which is part of the Airline Economics Week, ends today, January 15, and positions Nigeria as an emerging player in global aviation investment opportunities, particularly in airport infrastructure development and modernisation.
Featured image: NAN
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