The African Development Bank (AfDB) on Wednesday, May 27, appointed Festus Keyamo, minister of aviation and aerospace development, as the African champion for its $7 billion Integrated Aviation Transformation Programme (IATP) for Africa.
The bank said the appointment followed Nigeria’s leadership and vision in implementing policy reforms aimed at transforming the country’s aviation sector.
In a statement, Tunde Moshood, special adviser on media and communications to the minister, said the AfDB also invited Keyamo to its annual meeting scheduled for May 28, in Brazzaville.
According to the statement, the formal signing of the Letter of Intent (LOI) between the bank and Nigeria would take place at the meeting.
“The Integrated Aviation Transformation Programme for Africa is a continent-wide platform designed to modernize Africa’s aviation ecosystem and mobilize private, institutional, and concessional capital,” the statement read.
“It seeks to revitalize the industry, as African airlines currently account for less than 3 percent of global air traffic despite housing nearly 18 percent of the global population.
“The aviation minister is now expected to bring his knowledge, commitment, and passion to drive the programme in the whole of Africa.”
In March 2026, the AfDB unveiled the programme as part of efforts to modernise Africa’s aviation industry.
According to the bank, the programme is designed to align policy reforms, innovative financing instruments, and project execution within a single bankable framework.
The AfDB noted that despite strong demand fundamentals, Africa’s aviation sector continues to face structural constraints, including high cost of capital, fragmented regulatory systems, infrastructure gaps, and limited access to long-term financing.
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