The Federal Government has relived hope of the new national carrier with a funding offer above $250 million. This is coming three years after its unveiling in London.
The Ministry of Aviation, in a memo, disclosed that the private sector would avail the fund, in line with the Public-Private Partnership (PPP) design for the ‘Nigeria Air’.
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The Federal Government on July 18, 2018, had unveiled the name and logo of the proposed carrier at the Farnborough International Public Air show in London, United Kingdom (UK) ahead of the planned initial take-off on December 24 of that year.
The lack of budgetary provision and criticism by the public forced the Minister of Aviation, Hadi Sirika, to “temporarily” ditch the December 2018 roll-out plan.
About three years after its unveiling in London, the Federal Government has relived hope of the new national carrier with a funding offer above $250 million.
The Ministry of Aviation, in a memo, disclosed that the private sector would avail the fund, in line with the Public-Private Partnership (PPP) design for the ‘Nigeria Air’.
The Federal Government on July 18, 2018, unveiled the name and logo of the proposed carrier at the Farnborough International Public Air show in London, United Kingdom (UK) ahead of the planned initial take-off on December 24 of that year. The lack of budgetary provision and criticism by the public forced the Minister of Aviation, Hadi Sirika, to “temporarily” ditch the December 2018 roll-out plan.
The national carrier is to replace the defunct Nigeria Airways that ceased operations in 2003. The replacement was designed as a PPP project with the Federal Government likely to own as much as 10 per cent stake.
The equity was earlier backed by N47 billion in the 2019 budget to help the airline take off after it reached the procurement stage in early 2019. The carrier was also listed in both the 2020 budget and the recent N27 billion aviation intervention fund proposed by the government in the aftermath of the COVID-19 pandemic.
In an update on where the aviation road map currently stands, the ministry stated that the national carrier would soon come upstream.
The memo read in part, “The establishment of a national carrier is germane for the country not only in flying the flag of Nigeria high in the global air travel industry but also to stimulate activities in the industry and to create employment opportunities.
“We believe in what we are doing, we are not doing it off the top of our heads. We have done our studies; we believe it is doable.”