The Federal Government has signed the Cape Town Convention (CTC) Practice which is aimed at reducing the cost of airline operations in the Nigerian aviation sector.
The signing took place on Thursday during a stakeholders’ meeting of the Presidential Enabling Business Environment Council, PEBEC, chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.
With the signing of the CTC Practice Direction, the Cape Town Convention becomes actively and fully operational in Nigeria, thereby reducing the cost of insurance for airlines, restoring investors’ confidence in the nation’s aviation sector and enabling domestic airline operators to dry lease aircraft, among others.
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The development followed the Federal Government’s position that no ban was placed on any Nigerian airline by the United States Government.
