Nigeria Signs Letter of Intent to Advance AfDB’s $7 billion Aviation Programme

Nigeria has signed a Letter of Intent (LOI) with the African Development Bank (AfDB) to advance the $7 billion Integrated Aviation Transformation Programme (IATP).

The letter of intent was signed on behalf of Nigeria by the Minister of Aviation and Aerospace Development, Festus Keyamo, according to a statement issued by Tunde Moshood, Special Adviser on Media and Communications to the Minister.

The agreement is aimed at strengthening aviation infrastructure, financing, and connectivity across Africa.

The signing took place during the AfDB Annual Meetings in Brazzaville, Congo, where Nigeria also presented its aviation reform agenda.

What they are saying 

The signing took place during a dialogue session with AfDB President and Governors in Brazzaville, where Nigeria presented its aviation reform agenda and investment opportunities under the Integrated Aviation Transformation Programme.

• “In his new role as the African Champion of the Integrated Aviation Transformation Programme (IATP) of the African Development Bank (AFDB), Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, this morning in Brazzaville, Congo, attended a dialogue session with the President and Governors of the African Development Bank where he addressed them on the opportunities presented by the $7 billion program of the IATP for Africa and especially for Nigeria,” the statement read.
• “After the session, the Minister unveiled the COUNTRY COMPACT for Nigeria’s Aviation sector and proceeded to a signing ceremony of a LETTER OF INTENT (LOI) between the Bank and the Federal Republic of Nigeria, where both sides committed to work assiduously to operationalise the Bank’s laudable program for Aviation in Africa (IATP).” 

The statement added that the engagement formed part of wider discussions on mobilising financing and implementing aviation sector reforms across Africa under the AfDB-backed programme.

More insights

Nigeria’s aviation reform agenda under President Bola Ahmed Tinubu’s Renewed Hope Agenda includes regulatory and policy changes aimed at aligning the sector with global standards.

• Key reforms include domestication of the Cape Town Convention, updates to IDERA processes, and reforms to aviation insurance frameworks.
• The Minister also presented plans for the Nigeria Aircraft’s Leasing Company, a flagship initiative aimed at improving aircraft financing and reducing airline operating costs.

The company was earlier approved by the Federal Government in May and will operate as a Special Purpose Vehicle funded by private investors, with government backing provided through guarantees rather than direct funding.

Get up to speed 

The Integrated Aviation Transformation Programme (IATP) was unveiled by the African Development Bank in February as a continent-wide initiative to modernise Africa’s aviation sector.

• It focuses on improving aviation infrastructure, expanding financing access, and strengthening regional coordination across African countries.
• The AfDB recently appointed Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, as African Champion of the programme due to Nigeria’s leadership role and reform progress in the sector.

This positions Nigeria at the centre of implementation efforts for the aviation transformation agenda across the continent.

What you should know

The Integrated Aviation Transformation Programme is anchored on three core pillars: operationalising the Single African Air Transport Market (SAATM), strengthening aviation safety oversight, and developing aviation skills.

• SAATM is an African Union initiative designed to liberalise air travel across Africa and improve regional connectivity.
• Nigeria is among more than 30 African countries participating in the framework, which also supports broader efforts to modernise aviation infrastructure and attract private investment.

The letter of intent signed in Brazzaville is expected to guide cooperation between Nigeria and the AfDB on aviation investment mobilisation and reforms under the IATP.