“Nigerian Government Has Lost Interest”: FG Shares Update on Nigeria Air Project
- The FG has sent a message to Ethiopian Airlines expressing that it is no longer interested in the Nigeria Air project
- With three Nigerian investors jointly controlling 46%, FG possessed the remaining 5% of the shares
- This comes barely two months after the Nigeria Air project was placed on indefinite hold by FG
The Nigerian government has informed Ethiopian Airlines that it is no longer interested in collaborating to launch the proposed Nigeria Air project.
Source: UGC
reports that Mesfin Tasew, the Group Chief Executive Officer of the Airlines, made the announcement in Dubai, United Arab Emirates.
He said,
"The Nigerian government has lost interest in partnering with a foreign airline.”
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Barely two months have passed since the Federal Government put the Nigeria Air project on indefinite hold.
Nigeria Air suspension
Recall that at the ministerial briefing to commemorate President Bola Tinubu's first year in office on May 27, Festus Keyamo, the minister of aviation and aerospace development, announced the Nigeria Air project's indefinite suspension.
Keyamo disapproved of the agreement with Ethiopian Airlines, claiming that the nation would not benefit from the ownership structure of the suspended airline.
The minister went on to say that it would be reckless for the Federal Government to permit a foreign company to control all of Nigeria's aviation sector, endangering the expansion of regional companies.
Three days before the expiration of former President Muhammadu Buhari's term in office, Nigeria Air was introduced by the Ministry of Aviation, directed by former Minister Hadi Sirika, in 2023.
The ownership model of the Nigeria Air project, which granted Ethiopian Airlines a 49 percent equity participation, raised concerns among stakeholders countrywide.
Three Nigerian investors held 46% of the shares, with the federal government owning the remaining 5%.
In response to the agreement in June 2023, the House of Representatives requested that the Federal Government halt Nigeria Air's activities due to accusations of fraud.
FG sets condition to fly US route
Legit.ng reported that for Nigerian airlines to operate on US and other foreign routes, the Ministry of Aviation and Aerospace Development has stated that they must exhibit increased capacity and consistency to achieve the required requirements.
Tunde Moshood, the ministry's spokeswoman, told the PUNCH over the phone that Nigeria was ready to expand its presence in international aviation.
He mentioned that if they proved capable and reliable, Nigerian flag carriers Air Peace and Air Contractors might be able to open routes to the US.
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Source: Legit.ng
