Hadi Sirika, minister of state for aviation, said on Wednesday that Nigeria aims to launch a new national airline by April and will seek to sell a minority stake to a foreign airline or financial institution
This plan has been on and off the Government’s priority list for a couple of years now. Back in 2018 the plan was shelved.
The government is hoping to source partnership with a foreign company, preferably a reputable airline company. The procurement Nigeria Air process proposed a 49% stake in the new carrier, the government would have a 5% stake, while local entrepreneurs would hold a 46% stake.
In a cabinet meeting at the capital, Sirika said:
“The best case is that the airline will pick up… April 2022 if all things go equal,”
An initial Nigeria Air capital investment of between $150 million and $300 million is required.
Nigeria’s previous National airline was Nigeria Airways, founded in 1958 and was operated by the government. The National Airline stopped operating in 2003 after years of neglect and no further investment from either the Government or Private financial backing.
This is not the first time the Government has made bold claims of running a rebranded National airline service.
After many promises by the current administration, The results are yet to be seen.