Minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday in Brazzaville, Congo, signed a Letter of Intent (LOI) between the African Development Bank (AfDB) and the Federal Republic of Nigeria to advance the implementation of the Integrated Aviation Transformation Programme (IATP), a $7 billion initiative designed to modernise Africa’s aviation sector.

This was disclosed in a statement by the minister’s Special Adviser on Media and Communications, Tunde Moshood.

Mr Keyamo participated in a high-level dialogue session with the president and governors of the AfDB, where he presented the opportunities embedded in the programme and Nigeria’s role in driving its implementation.

According to him, the IATP offers a strategic pathway to unlock aviation investment across Africa, with Nigeria positioned as a key beneficiary through ongoing sector reforms and policy alignment.

He also unveiled President Bola Tinubu’s Renewed Hope Agenda for the aviation sector, describing it as a framework that could serve as a model for other African countries seeking to develop their aviation industries.

Mr Keyamo said Nigeria had already taken key preparatory steps to position itself for the successful take-off of the initiative.

“including domesticating the Cape Town Convention, updating its IDERA and reworking its aviation insurance policies to meet global industry standards,” he said.

He noted that these reforms were necessary to build investor confidence and align Nigeria’s aviation framework with international best practices.

The minister also highlighted the newly approved Nigeria Aircraft Leasing Company, saying it would play a critical role in improving access to aircraft financing and expanding airline operations in the country.

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He added that the African Development Bank was being engaged to mobilise capital in support of the initiative, given its potential to transform aviation financing across the continent.

The statement added that the President of the AfDB, Sidi Ould Tah, expressed satisfaction with the presentation and pledged the bank’s commitment to supporting the successful implementation of the IATP across Africa, particularly in Nigeria.

Following the dialogue session, Mr Keyamo unveiled the Country Compact for Nigeria’s aviation sector and then signed the Letter of Intent between the AfDB and Nigeria, formally marking a commitment to deepen cooperation in aviation development.

Nigeria, AfDB sign agreement for $7bn aviation transformation programme

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