An energy and aviation expert, Dare Osamo, has hailed the Federal Government’s recent signing of the Cape Town Convention, describing it as a landmark policy decision that will transform Nigeria’s aviation sector and unlock long-term growth.
Osamo, the Managing Director of Impact Energy, said the move by the administration of President Bola Tinubu under its Renewed Hope Agenda signals a new era of confidence, investment and structural reform in the country’s aviation industry.
In an interview with newsmen on Wednesday, the expert noted that the decision, executed by the Minister of Aviation and Aerospace Development, Festus Keyamo, would significantly improve aircraft leasing conditions for indigenous airlines, open the door to fresh investment, and strengthen Nigeria’s credibility within the global aviation market.
According to Osamo, the Cape Town Convention offers a globally recognised legal framework that safeguards the interests of aircraft lessors and financiers, particularly in asset recovery and enforcement of rights. He explained that its implementation addresses a long-standing structural challenge that has constrained the growth of local airlines.
“This is a clear demonstration of purposeful governance under President Bola Ahmed Tinubu. The Renewed Hope Agenda is about removing systemic bottlenecks and restoring investor confidence, and the signing of the Cape Town Convention fits squarely within that vision.”
He explained that access to aircraft through leasing has historically been one of the most difficult hurdles for Nigerian operators, largely due to legal and regulatory uncertainties. With the convention now in force, Osamo said local airlines would be able to lease aircraft more easily, on better terms and at lower costs.
“This development makes aircraft leasing easier, more effective and more predictable for Nigerian operators. As a result, we will see organic growth in local fleets, improved service delivery and a more competitive aviation industry.”
Osamo added that an expansion in airline fleets would generate far-reaching economic benefits. Increased aircraft numbers, he said, would boost demand for aircraft parts, maintenance and repair services, aviation consumables and jet fuel, creating new opportunities across both the aviation and energy value chains.
“As fleets grow, the supporting industries grow alongside them,” he said. “From engineers and technicians to fuel suppliers and logistics providers, this will naturally create more jobs and deepen local capacity.”
He further noted that improved access to aircraft would enable airlines to open new domestic and regional routes, especially to underserved destinations, improving connectivity, stimulating trade and supporting national economic development.
Osamo also commended the role of the Minister of Aviation, Festus Keyamo, SAN, in advancing reforms aimed at repositioning the sector. He said the minister’s engagement with international aviation stakeholders, focus on regulatory clarity, and commitment to restoring confidence in Nigeria’s aviation ecosystem have laid the groundwork for reforms such as the Cape Town Convention.
“The minister has been deliberate in addressing legacy issues in the aviation sector,” Osamo said. “From improving Nigeria’s global aviation standing to engaging lessors, financiers and international partners, this signing reflects a broader reform agenda already underway.”
Describing the move as a foundational policy shift, Osamo said that if properly implemented and supported with complementary reforms, the convention could reposition Nigeria as a preferred destination for aircraft leasing, aviation services and regional air transport operations.
He urged sustained collaboration between government, regulators and private sector stakeholders to ensure that the full benefits of the convention are realised.
“The signing of the Cape Town Convention is not just a legal exercise; it is an economic enabler,” Osamo said. “It sends a strong message that Nigeria is open for business and serious about building a sustainable, growth-driven aviation industry under the Renewed Hope Agenda.”
