In an effort to lower airline operating costs in Nigeria’s aviation industry, the Federal Government has ratified the Cape Town Convention, also known as the CTC Practice Directions.
The signing took place at the Presidential Villa in Abuja during a stakeholders’ meeting of the Presidential Enabling Business Environment Council, or PEBEC, which Vice President Kashim Shettima presided.
Justice John Tsoho, Chief Judge of the Federal High Court, signed the CTC practice directive, which was designed to support and maintain the country’s airline sector. Shettima praised Justice Tsoho for signing the document and resolving the matter.
The Vice-President gave assurances to airline operators over the commitment of President Bola Tinubu’s administration to safeguard and advance the Nigerian aviation sector.
He commended Wale Edun, the minister of finance, for tackling the problems facing airline companies.
In order to refine the agreements made during the meeting, Edun committed to meeting with stakeholders.
He characterized the agreement as a step toward revolutionizing the airline sector by cutting expenses and promoting expansion. Olusegun Omoseye, the CEO of the National Insurance Commission, characterized the signing as a major step forward for the aviation industry and the economy of Nigeria.
