After a number of defaults by Nigerian airlines and difficulties repossessing aircraft, despite Nigeria being a signatory to the Cape Town Convention, leasing aircraft was often expensive and came with high insurance premiums. The Nigerian government is now preparing to support its airlines when negotiating with leasing companies. The Director General of the Nigerian Civil Aviation Authority (NCAA), Captain Musa Nuhu, says that the agency will work with Nigerian airlines that lease aircraft and intervene in any disagreements to resolve the issues “without having serious negative consequences on the Nigerian aviation market”.
The Director General said it would rebuild the confidence lessors have in Nigeria and could now lease aircraft to Nigerian airlines without stringent measures.