The federal government has signed the updated Nigeria Civil Aviation Authority procedure to boost operational capacity by enabling airlines to access dry-lease aircraft.

Aviation minister Festus Kayamo, who signed the document on Wednesday in Abuja, said the move would enhance Nigeria’s compliance with the international standards.

He said the document, a procedure for Recordation of Irrevocable Deregistration and Export Request Authorisation and aircraft registration under IDERA, would assure lessors that their aircraft are safe within Nigerian jurisdiction.

“We are here today, having fulfilled all our judicial obligations. We want to update the administrative rules, and this is what they called the advising circular. The IDERA is a legal framework that gives aircraft financiers the assurance that, in the event of a default by an operator, they can recover their assets without lengthy legal delays.

“The updated legal framework stipulates five working days to recover its aircraft. The revised NCAA procedure provides clarity on the recordation of IDERA-related documents. It also streamlines the aircraft registration process and ensures quicker responses to deregistration and export requests,” he said.

The minister said the global international requirement aligned with the Cape Town Convention protocol on deregistration and export requests of leased aircraft.

According to him, Nigeria is part of the Cape Town Convention but has been left unattended to for a very long time, and has equally left Nigerian aircraft operators on hold.

NCAA’s acting director-general, Chris Najomo, noted that the Cape Town Convention came into force in the United Kingdom on November 1, 2015, through the International Interests in Aircraft Equipment.

According to him, the Cape Town Convention Regulations 2015 aims to reduce the cost of raising finance for large, high-value mobile assets which routinely cross borders.

He said the main impact of the Convention was the ability of the registered owner to request for IDERA over an eligible aircraft as the “authorised party” to de-register and export the aircraft.

(NAN)