Kehinde Fajobi
The federal government has directed the Ministry of Aviation and Aerospace Development to initiate the process of insuring aircraft operated by Nigerian airlines.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Wednesday in Abuja, during a stakeholders’ meeting aimed at aligning the aviation industry with international standards and attracting foreign investment.
Keyamo shared that Vice President Kashim Shettima instructed the ministry to ensure that Nigerian-operated aircraft are properly insured.
“This initiative will create a conducive environment for business and attract foreign investors,” he stated.
Following discussions with aviation stakeholders, Keyamo noted, “We had a very robust discussion, and I am very grateful to the leadership of the National Assembly on insurance. They were here, and they provided useful support and guidance to all of us regarding how they were also thinking.”
He added that both the Airline Operators of Nigeria (AON) and the National Insurance Commission (NAICOM) contributed openly to the dialogue, bringing further clarity to their perspectives.
He continued, “We have resolved that there is a need for further engagement on this issue. We also have decided that there is a need for AON and NAICOM to engage international resources and finances to understand their position and their capacity.
“The capacity they have is part of the rebranding of Nigeria’s image to the world, and every sector in Nigeria must rebrand to show our capabilities.”
Jumoke Oduwole, the new Minister of Industry, Trade, and Investment, expressed her support for the initiative, highlighting its potential to “unlock the economy and boost the aviation business.”
Additionally, Senator Mukhail Adetokunbo, Chairman of the Senate Committee on Banking and Insurance, urged the ministry to ensure that all stakeholders’ interests are safeguarded throughout the process.