Nigeria, AfDB Collaborate On $7 Billion African Aviation Programme

According to Ireporter Online, Nigeria has signed a Letter of Intent with the African Development Bank (AfDB) aimed at strengthening aviation development across Africa and advancing key sector reforms.

The agreement was signed by the Minister of Aviation and Aerospace Development, Festus Keyamo, during a high-level dialogue session with the AfDB President and Governors held in Brazzaville, Congo, on Thursday.

In a statement released by the minister’s Special Adviser on Media and Communications, Tunde Moshood, Keyamo participated in the engagement in his capacity as African Champion of the AfDB’s Integrated Aviation Transformation Programme.

During the meeting, the minister outlined the opportunities embedded in the bank’s $7 billion aviation initiative, emphasizing Nigeria’s commitment to leveraging the programme to drive sectoral growth. He also presented President Bola Ahmed Tinubu’s Renewed Hope Agenda for aviation, stressing the importance of capital mobilisation to support critical aviation projects.

Keyamo highlighted the newly approved Nigeria Aircraft Leasing Company as a strategic initiative that could enhance aircraft financing, strengthen local operators, and stimulate industry expansion. He further noted that Nigeria has implemented key regulatory reforms, including the domestication of the Cape Town Convention and updates to the Irrevocable Deregistration and Export Request Authorisation framework.

He added that ongoing reforms in aviation insurance were part of broader efforts to create a more investor-friendly environment and position Nigeria as a leading aviation hub in Africa.

The statement also confirmed that the President of the African Development Bank, Dr Sidi Ould Tah, expressed strong support for the initiative, pledging the bank’s commitment to the successful implementation of the Integrated Aviation Transformation Programme across the continent.

The engagement was described as part of wider efforts to deepen partnerships in aviation financing, infrastructure development, and policy reforms. Keyamo also unveiled Nigeria’s Country Compact for the aviation sector, which outlines national priorities and areas requiring support from the AfDB and other development partners.

According to the ministry, the signing of the Letter of Intent marks a significant step toward attracting investment, improving aviation infrastructure, and ensuring long-term sustainable growth in Nigeria’s aviation industry.