The Federal government has signed the IDERA law to simplify aircraft leasing, making it easier to de-register and export leased planes.
This move improves coordination with customs, aims to attract investors, and aligns Nigeria with global standards.
In a significant move for Nigeria’s aviation sector, the federal ministry of aviation and aerospace development signed the De-Registration and Export Request Authorisation (IDERA) into law.
This important regulation aims to simplify aircraft leasing and operations, thereby creating a more attractive environment for investors.
During the signing ceremony in Abuja, Minister Festus Keyamo highlighted that this resolution would help attract investors who previously faced challenges due to restrictive regulations.
Specifically, with IDERA, leased aircraft can now be easily de-registered and exported without bureaucratic delays.
Moreover, Keyamo noted that the new law would encourage more investors to bring aircraft into Nigeria, effectively removing potential barriers to entry.
Read Also: Federal Government, Labour In Discussions To Address Fuel Price Hike
He assured attendees that he would collaborate with agencies like the Nigeria Customs Service to ensure timely clearance of aircraft coming into the country for lease.
Acting Director-General of the Nigeria Civil Aviation Authority (NCAA), Capt. Chris Najomo, also spoke at the event.
He emphasised the law’s importance in enhancing access to dry-lease aircraft and improving operational capacity for Nigerian airlines.
Furthermore, this development aligns Nigeria’s aviation regulations with international standards set by the Cape Town Convention, which Nigeria has ratified.
Najomo acknowledged previous challenges that hindered IDERA’s implementation but praised Keyamo for taking decisive steps to resolve these issues.
Overall, this landmark law marks a vital improvement for Nigeria’s aviation industry.
