The Federal Government of Nigeria has taken a significant step to boost the aviation sector by signing the Irrevocable De-Registration and Export Request Authorisation (IDERA). This move was officially announced by the Minister of Aviation and Aerospace Development, Festus Keyamo, on Wednesday in Abuja.
According to Keyamo, the signing of IDERA is a crucial step in improving Nigeria’s reputation in the global aviation industry. It addresses previous administrative and judicial challenges that hindered the smooth operation of aircraft leasing and financing. Keyamo emphasized that previous administrations had overlooked these critical aspects, leading to Nigeria being blacklisted by the international aviation community.
The IDERA procedure, updated by the Nigerian Civil Aviation Authority (NCAA), allows lessors to apply for deregistration and export of aircraft when a lease expires. This process is vital for ensuring that lessors can recover their aircraft if necessary. Keyamo highlighted that this development brings Nigeria in line with global best practices, making it a safer and more attractive destination for aircraft lessors and financiers.
The Director General of NCAA, Captain Chris Ona Najomo, also praised the initiative, stating that it will improve operational capacity in the country. Najomo explained that Nigeria has been a signatory to the Cape Town Convention since November 1, 2015, but the smooth execution of the IDERA process had faced challenges due to judicial pronouncements and unwilling lessees. The new circular issued by the NCAA provides guidance on the regulatory requirements and procedures for deregistration and export of aircraft.
This development is expected to unlock significant opportunities for the Nigerian aviation sector, enabling domestic airlines to access dry-leased aircraft more easily and boosting their operational capacity. Keyamo is confident that this will raise Nigeria’s global rating in the aviation industry, potentially from the current 70.5 to over 80, and help reduce flight cancellations and delays by increasing the number of operating aircraft).
