United Nigeria Airlines’ chief operating officer, Osita Okonkwo, noted that Nigeria is gaining improved access to aircraft leasing opportunities after previously being blacklisted by the global aviation leasing community.
During the Boeing Lessors Forum in Dublin in January, the manufacturer announced efforts to assist Nigerian airlines in obtaining adequate aircraft insurance through collaborations with reliable lessors and global financiers.
The shift follows the signing of the Cape Town Convention practice directions in September 2024 under aviation minister Festus Keyamo, aimed at reducing costs for airline operations and enabling domestic operators to dry lease aircraft.
The Cape Town Convention establishes standards for the registration of sales contracts and legal remedies in financing agreements, contributing to enhanced investor confidence in Nigeria’s aviation sector.
