The Federal Government of Nigeria has called on aviation stakeholders across Africa to embrace transparent and accountable financial practices to strengthen the continent’s aviation industry and boost investor confidence.

Speaking at a regional aviation forum in Abuja, the Minister of Aviation and Aerospace Development emphasized that sound financial governance is critical for sustainable growth, safer operations, and improved access to global financing opportunities.

The call comes as Nigeria’s compliance rating under the Cape Town Convention an international treaty designed to reduce credit risks in aircraft financing and leasing has risen to 75.5 percent. The milestone reflects the country’s recent legal and institutional reforms, including the adoption of new “Practice Directions” for aircraft financing and repossession cases in Nigerian courts.

Industry experts at the event, which drew participants from across the continent, agreed that transparent practices are key to attracting foreign investment, lowering leasing costs, and enhancing operational efficiency across Africa’s aviation sector.

Officials also highlighted the need for collaborative efforts between governments, regulators, and private operators to ensure consistent application of international best practices in financial management, aircraft registration, and dispute resolution.

By reinforcing accountability and transparency, Nigeria hopes to set a benchmark for other African nations, promoting a more competitive, safe, and financially stable aviation industry across the region. Visit www.jocomms.com for more news.