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FG Signs CTC Practice Direction To Lower Expenses in The Aviation Industry
FG Signs CTC Practice Direction to Lower Expenses in the Aviation Industry.
By Aremu Adebayo
Today, the Federal Government officially signed the Cape Town Convention (CTC) Practice Direction. This initiative aims to lower the costs associated with operating in the Nigerian aviation industry, make airline insurance more affordable, and facilitate dry leasing of aircraft for domestic airline operators, among other objectives.
The Chief Judge of the Federal High Court, Justice John Terhemba Tsoho, signed the CTC Practice Direction at a stakeholders’ meeting of the Presidential Enabling Business Environment Council (PEBEC), which was chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja.
The enactment of the CTC Practice Direction will enable the Cape Town Convention to be fully implemented in Nigeria. This development is expected to lower insurance costs for airlines, boost investors’ confidence in the Nigerian aviation industry, and decrease the overall expenses associated with operating within the nation’s aviation sector.
