Dr. Armstrong Ume Takang, MD, MOFI (left) Mr. Festus Keyamo, Minister, Aviation and Aerospace Development
The Ministry of Aviation and Aerospace Development and the Ministry of Finance Incorporated (MOFI) are to collaborate to work out plans to develop the air travel sector.
This was revealed when the Minister of Aviation and Aerospace Development, Festus Keyamo received a high-level delegation from MOFI, led by its Managing Director, Dr. Armstrong Ume Takang.
They disclosed that the purpose of the visit was to present investment opportunities within the aviation sector as part of broader efforts to reposition the industry as a cornerstone of Nigeria’s economic transformation.
Accompanied by representatives of their Qatari strategic partner, Power International Holdings, the MOFI team highlighted several potential areas of collaboration across key segments of the aviation value chain.
Dr. Takang praised the Minister’s recent introduction of the Cape Town Convention (CTC) and Irrevocable Deregistration and Export Request Authorisation (IDERA) framework, describing it as a “masterstroke in reform-minded policy innovation critical to unlocking capital inflow and building a robust aviation sector.”
He further noted that these initiatives are aligned with President Bola Ahmed Tinubu’s vision for a trillion-dollar Nigerian economy driven by strategic sectors, including aviation.
In his response, Keyamo expressed deep appreciation for the visit and acknowledged the critical role MOFI can play in bridging the gap between government policy and long-term private capital investment.
“Sound policy is the foundation of investment attraction. MOFI is indeed the missing link we have been seeking in our drive to reform and reposition the aviation sector. I welcome this opportunity for structured collaboration,” the Minister stated.
A statement by Tunde Moshood, Special Adviser on Media and Communications to the minister said both parties agreed to establish a joint working team that will fine-tune identified areas of cooperation, conduct feasibility assessments, and propose actionable steps toward implementation.
The visit, he noted marked a significant step toward harnessing institutional capital for aviation infrastructure, a key component of the Renewed Hope Agenda under President Tinubu’s administration.
