FG engages stakeholders over aircraft insurance, international requirements

The Federal Government on Wednesday engaged key stakeholders in the aviation sector to address challenges related to aircraft insurance, lease demands, and financing.

Speaking at the meeting in Abuja, the Minister of Aviation and Aerospace Development, Festus Keyamo, explained that the meeting was convened at the direction of the Vice President.

According to Keyamo, “This meeting was convened at the instance of the Vice President, who mandated us to engage with all stakeholders on the issues of aircraft insurance and the demands of international leases and financiers, and to find a balance with our local content requirements in Nigeria.”

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“We have had a very robust discussion, and I am very grateful to the leadership of the National Assembly on insurance matters. They were here and provided valuable support and guidance. The airline operators of Nigeria spoke their minds, and the Nigerian Insurance Association also expressed their views.”

Keyamo continued, “I believe we are beginning to understand each other. We reached a resolution that further engagement on these issues is necessary. We also agreed that the Nigerian Insurance Association should further engage with international resources and financiers to better understand their position and capacity.”

“The capacity they bring is part of rebranding Nigeria’s image to the world. Every sector in Nigeria has a role to play in rebranding and showcasing our capabilities, which was a key takeaway from today’s meeting.”

“They will join us on a trip to Dublin to meet with international financiers who have invited us in January. Members of the National Assembly, along with aviation and insurance representatives, as well as airline operators, will be there with us. This is a challenge for all of us to rebrand our sectors.”

Keyamo commended the stakeholders for their contributions, saying, “The chairman of Nicon made immense contributions and highlighted several issues that we had previously overlooked.”

“So, gentlemen, that was the outcome of this meeting. It was fruitful, and we clarified many gray areas,” he stated.