The Federal Government on Thursday, September 12, signed the Cape Town Accord on aircraft Lease, 20 years after it came into effect.
The Cape Town Accord was designed to facilitate assets-based financing and leasing of aviation equipment, including aircraft.
It also helps to expand financing opportunities and reduce costs, with the intended economic benefits.
Vice President Kashim Shettima presided over the signing of the accord in the presence of aviation stakeholders, including the Chairman of Air Peace, Allen Onyema.
It was gathered at the Presidential Villa where the signing took place that with the signing of the Accord, Nigerian airline operators can now have access to aircraft Dry Lease, while passengers can also enjoy lower flight rates.
