Abuja, May 13, 2025 – Festus Keyamo, the Minister of Aviation and Aerospace Development, has launched a new insurance policy for the aviation sector.
Odutayo Oluseyi, the Spokesman for the minister, disclosed this in a statement on Monday, saying the revised regulations were specifically drawn to ease aircraft financing and support the growth of local airline operators
It quoted the Minister as saying that the revised regulations would boost the aviation sector, improve Irrevocable Deregistration and Export Request Authorisation, allow local operators to cede up to 90 per cent of risk to international markets under certain conditions and it is in line with the Cape Town Convention which gears towards acquisition and financing of aircraft.
“We are proud of the progress made in enhancing the aviation ecosystem in Nigeria.
“Our focus is on investor-friendliness, empowering the local operators, ensure compliance with international standards, and drive growth and development in the aviation industry,” Keyamo said.
Olusegun Omosehin, the Commissioner for Insurance, said the policy would enhance the nation’s GDP and promote the stability of the aviation insurance market.
He said the benefits from the new regulation would be enormous.
