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NAICOM Unveils Landmark Regulation For Leased Aircrafts, Boosting Aviation And Insurance Sectors.

In a groundbreaking move, the National Insurance Commission (NAICOM) has officially launched the Revised Regulation on Insurance for Leased and Financed Aircrafts. This development is set to strengthen Nigeria’s aviation and insurance industries, enhance investor confidence, and promote ease of doing business in the country.
The unveiling ceremony, held at the Office of the Honorable Minister of Aviation, underscores the collaborative efforts between NAICOM, the Federal Ministry of Aviation and Aerospace Development, and key stakeholders. Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, described the regulation as a transformative framework that will foster certainty, predictability, and stability in the aviation insurance market.
The revised regulation is the result of extensive consultations with industry players, including aviation operators, insurers, international financiers, and lessors. Mr. Omosehin emphasized that the new framework will liberalize insurance requirements, boost industry capacity, and reassure the global aviation market of Nigeria’s commitment to global standards.
The Commissioner expressed gratitude to the Honorable Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, and the Presidential Enabling Business Environment Council (PEBEC) for their instrumental roles in driving the reform forward. He also acknowledged the Nigerian Insurers Association (NIA), Airline Operators of Nigeria (AON), and other industry stakeholders for their collaborative input.
With this regulation, Nigeria’s aviation sector is poised for growth, innovation, and investment. As Mr. Omosehin noted, “With the right insurance framework, Nigeria’s aviation sector can overcome challenges, adapt to changes, and thrive in an ever-evolving landscape.” This revised regulation signals Nigeria’s readiness to attract aviation business and soar to new heights.
Online Poster by — May 12, 2025 in Aviation 0
Enugu Reps Caucus Backs Concessioning Of Enugu Airport

LarryBravo Nwaiwu
The Enugu State Caucus in the House of Representatives has thrown its weight behind the federal government’s plan to concession the Akanu Ibiam International Airport, Enugu, describing it as a potential catalyst for the South East economy.
The caucus commended the federal government for the initiative and urged it to hasten the concession process to enable the people of the South East and the nation to benefit from it in earnest.
It equally called on the people of the region to support the concessioning as the only way to guarantee sustainable investment to fully develop the airport into a truly international facility.
The caucus made its position known in a statement signed and issued on Monday by the caucus leader, Hon. Nnolim Nnaji, as well as Hon. Martins Oke, Hon. Dennis Agbo, Hon. Anayo Onwuegbu, Hon. Chimaobi Atu, Hon. Sunday Umeha, Hon. Paul Nnamchi, and Hon. Mark Obetta. These are  the representatives of all the eight federal constituencies in Enugu State.
 “Due to poor capital investment, the Akanu Ibiam International Airport, AIIA, Enugu, remains partially completed and indeed an international airport only in name over two decades since it was designated as such by the federal government. Critical components such as cargo terminal, runway, international terminal, among others, are either non-existent or requiring completion or upgrade.
“Businesses and the people of the South East especially have borne the brunt of these inadequacies, which manifest in the paucity of international flights and intermittent closure of the airport for repair of the runway, as recently witnessed.
“Therefore, we believe that the concessioning of the airport, as currently being processed by the federal government, is the only realistic approach to attracting adequate resources to build the requisite infrastructure and expand existing ones to place AIIA in the league of other international airports around the world,” the caucus said.
The statement explained that concessioning was not the same thing as privatisation or sale of the airport as being peddled by some persons, but a well-known and tenured to Public-Private Partnership (PPP) framework, which pulls private capital investment into public infrastructure while government retains ownership and regulatory or supervisory authority.
“We call on the federal government to hasten this process, for the people of the South East region in particular and Nigeria in general to start benefiting from the huge possibilities and blessings it holds.
“Indeed, we also have faith in federal government through the Federal Airports Authority of Nigeria and the Ministry of Aviation and Aerospace Development to entrust AIIA to a concessionaire with the financial and technical prowess, strong international pedigree and reputation as well as antecedent of verifiable successes to actualise the target. Nothing less than this is acceptable and capable of catalysing the much-needed South East  regional economic prosperity and transformation,” the statement added.
Online Poster by — April 29, 2025 in Aviation 0
Air Peace Suspends Nationwide Operations Indefinitely Over NIMET Strike

Air Peace suspends flight operations nationwide over NiMet strike - Vanguard News

Nigeria’s leading carrier, Air Peace, has announced the indefinite suspension of all its flight operations nationwide due to the ongoing strike by the Nigerian Meteorological Agency (NiMet).
This decision comes as NiMet’s industrial action has disrupted the transmission of critical weather reports, particularly the QNH, which are essential for safe flight operations, especially during landing procedures.
Air Peace emphasized that pilots cannot land in any airport without receiving the QNH report from the control tower, which is generated by NiMet. Given the current season marked by frequent rainfall, thunderstorms, and unpredictable weather patterns, the airline has expressed grave concern over the risks of operating flights without these mandatory safety updates.
“As a safety-conscious airline, we cannot take the risk of proceeding with flight operations without the QNH report from NiMet, which is a non-negotiable requirement for safe landings,” the airline stated. “This is a critical period with heightened weather hazards, and the safety of our passengers and crew remains our top priority.”
The suspension takes immediate effect and will remain in force until the NiMet strike is resolved and full meteorological services are restored nationwide.
Air Peace has urged affected passengers to remain patient and assured them that updates regarding flight rescheduling and further instructions will be communicated via official channels.
The airline also appealed directly to the striking workforce of NiMet to consider the far-reaching implications of the ongoing disruption and to engage in meaningful dialogue with the government toward an amicable resolution, in the interest of national safety and continuity in the aviation sector.
Online Poster by — April 24, 2025 in Aviation 0