The Nigerian government on Wednesday signed the Irrevocable Deregistration and Export Request authorisation (IDERA) Advisory Circular, paving the way for local airlines to boost operational capacity through dry-lease aircraft.
Minister of Aviation and Aerospace Development, Festus Keyamo, signed the document alongside Acting Director General of Nigerian Civil Aviation Authority (NCAA) Captain Chris Najomo in Abuja.
According to the Minister, the document was an international requirement that would further raise Nigeria scores in the world of lessors and financiers, adding that though IDERA and Aircraft lessor could apply administratively to the NCAA for an aircraft to be taken out of the country.
He added that signing of the IDERA was sin-qua-non to the Practice Director that was recently signed by the Nigerian government to interpret the Cape-town convention.
To him, the judicial uncertainty affected Nigeria’s rating by the international community and so the country was blacklisted that Nigeria is not a safe place for the lessors to to bring their aircraft.
“Having settled the judicial remedies through practice direction, we want to now turn attention to the administrative route by which aircrafts can be deregistered and exported out of Nigeria.
“For the lessors coming into the country that wants to take their aircraft out of the country when there is a dispute, there are two remedies, the Judicial remedies is for the the leases that run to court to get injunction but the leaders can also go to court to seek for permission to take their aircraft out to which the court has 10 days to listen to the request and grant them the permission”, he explained.
On his part, the NCAA Boss remarked that the Cape Town Convention and the associated Aircraft Protocol came into force in the United Kingdom on November 1, 2015, aimed at reducing the cost of raising finance for large, high value mobile assets which routinely cross borders.
He further stressed that the Convention was In relation to registration and operation of aircraft in Nigeria, with the ability of the registered owner to request an IDERA over an eligible aircraft.
“Once an IDERA is recorded, the party that has been declared by the registered owner as the “authorised party” will be the only party with the right to de-register and export the aircraft.
He, however, announced the issuing of an Advisory Circular: NCAA-AC-AWS001 dated 16th October, 2024 intended to provide information and guidance on the civil aviation regulatory requirements and procedures.
