The Federal Government, through the Minister of Aviation and Aerospace Development, Festus Keyamo, has engaged the leadership of the African Development Bank (AfDB) over plans to secure backing for a $7 billion continental aviation initiative.
The meeting, held in Congo, forms part of Keyamo’s role as African Champion of the Integrated Aviation Transformation Programme (IATP), an initiative aimed at boosting investment, improving connectivity, and driving structural reforms across Africa’s aviation sector.
According to the minister, the programme aligns with the Federal Government’s strategy to reposition Nigeria’s aviation industry and attract sustainable investment.
He highlighted ongoing reforms, including the establishment of a national aircraft leasing company, as well as regulatory adjustments designed to improve investor confidence and reduce reliance on foreign leasing arrangements.
Keyamo also noted that Nigeria has implemented global best practices, including the domestication of the Cape Town Convention and updates to aviation insurance frameworks.
He appealed to the AfDB to provide financial support, emphasising that limited access to affordable funding remains a major constraint for African airlines.
In response, AfDB President Dr Sidi Ould Tah expressed support for the initiative and commended Nigeria’s reform efforts, pledging the bank’s commitment to advancing the programme.
