Nigeria’s aviation sector took a significant step forward with the signing of the updated Procedure for Recordation of Irrevocable Deregistration and Export Request Authorization (IDERA).
The document, signed by Nigeria Civil Aviation Authority’s Acting Director General, Chris Najomo, empowers aircraft lessors to repossess aircraft if Nigerian airlines default on agreements.
Minister of Aviation and Aerospace Development, Festus Keyamo, announced this development in Abuja, stating that IDERA will boost Nigeria’s aviation ratings, attract more financiers, and increase access to dry lease aircraft.
This move follows the recent signing of the Cape Town Convention, resolving long-standing judicial uncertainty over aircraft disputes.
Related News: Wet Leasing Woes: Minister Keyamo Vows to Revive Nigeria’s Aviation Sector
The industry, previously blacklisted by lessors, now anticipates fewer delays and more available aircraft, signaling a positive future for Nigerian airlines.
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