Nigeria finally signed the Cape Town Accord on aircraft Lease

Vice president Kashim Shettima

With the signing which took place at the Presidential Villa, Nigerian airline operators can now have access to aircraft Dry Lease, while passengers can also enjoy lower flight rates.

In more than twenty years, Nigeria government on Thursday finally approved the Cape Town Accord on aircraft Lease.

Vice President Kashim Shettima presided over the signing of the Accord in the presence of aviation stakeholders, including Allen Onyema, Chairman of Air Peace.

The treaty is designed to facilitate asset based financing and leasing of aviation equipment, including aircrafts.

With the signing which took place at the Presidential Villa, Nigerian airline operators can now have access to aircraft Dry Lease, while passengers can also enjoy lower flight rates.

The accord which came into effect over 20 years ago, also help to expand financing opportunities and reduce costs, with the intended economic benefits.