Nigeria Air will Launch and Begin Operations in April 2022 – Minister of Aviation, Hadi Sirika.
This follows the approval of the outline business case for the establishment of the national carrier by the Federal Executive Council (FEC) on Wednesday.
The Minister, made the announcement in Abuja while briefing State House correspondents at the end of the FEC meeting explained that it was the sixth attempt to get the outline business case approved.
“Today in Council, civil aviation presented two memoranda, “The first one is approval for the award of contract for the provision of Automated Civil Aviation Regulatory Equipment, including software support and training, which will be located in Nnamdi Azikiwe International Airport.
“The next one also is the approval of the outline business case for the establishment of the national carrier.
“The structure of the proposed airline, the government will be owning not more than five percent. So, five percent is the maximum equity that government will take, then 46 percent will be owned by Nigerian entrepreneurs.
“So, if you add that, it’s 51 percent. So, it’s 51 percent majority shareholding by Nigerians and then 49 percent will be held by strategic equity partner or partners that will be sourced during the procurement phase, which is the next phase,” the minister stated.
When the outline kicks off expectedly in April 2022, according to him, it will generate about 70,000 jobs in the first few years – a number higher than the aggregate number of employees in the Federal Civil Service workforce.
“But one important item is the AU agenda 2063, which speaks to the integration of Africa, which speaks to the cause and trade within Africa that is intra-Africa and, to which also, another flagship project of AU agenda 2063 called the Single African Air Transport Market (SAATM).