Nigeria Pushes $7bn Aviation Transformation Plan At AfDB High-level Session

Nigeria’s minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday in Brazzaville, Congo, advanced the country’s aviation reform agenda at a high-level dialogue session with the president and governors of the African Development Bank (AfDB).

Speaking in his capacity as African Champion of the Integrated Aviation Transformation Programme (IATP), Keyamo spotlighted the $7 billion initiative designed to accelerate aviation development across Africa, with Nigeria positioned as a key beneficiary and implementation hub.

At the session, the minister presented President Bola Ahmed Tinubu’s Renewed Hope Agenda for the aviation sector, outlining ongoing reforms and investment opportunities within Nigeria’s aviation ecosystem.

He emphasised the country’s readiness to attract global capital, particularly through the newly approved Nigeria Aircraft Leasing Company, which he described as a strategic platform for strengthening airline operations and expanding fleet access.

Keyamo further noted that Nigeria had undertaken critical policy and regulatory reforms to align with global aviation standards. These include the domestication of the Cape Town Convention, updates to the Irrevocable De-registration and Export Request Authorisation (IDERA) framework, and revisions to aviation insurance policies to enhance investor confidence and operational transparency.

According to him, these reforms place Nigeria in a strong position to serve as a model for other African countries under the IATP framework.

The president of the African Development Bank expressed satisfaction with the presentation and reaffirmed the Bank’s commitment to supporting the successful implementation of the IATP across Africa, with particular emphasis on Nigeria’s aviation sector.

Following the dialogue session, Keyamo unveiled the Country Compact for Nigeria’s aviation sector and proceeded to a signing ceremony of a Letter of Intent (LOI) between the African Development Bank and the Federal Republic of Nigeria. Both parties pledged to deepen collaboration toward operationalising the Bank’s aviation transformation programme across the continent.

The agreement marks a significant step toward mobilising financing and institutional support for aviation infrastructure and reform in Nigeria and Africa at large.