Federal Executive Council (FEC) has approved April 2022 as official date for the commencement of the operations of much-awaited Nigeria Air.
Minister of Aviation, Senator Hadi Sirika, disclosed this when he briefed State House correspondents on the outcome of the FEC meeting.
The meeting was presided over by President Muhammadu Buhari in the Presidential Villa, Abuja, on Wednesday.
According to Sirika, majority shares of 49 per cent of the Nigeria Air project will be owned by strategic equity partners, 46 per cent by Nigerians while the Federal Government will own five per cent of the shares.
The minister revealed that the council also approved N1.49 billion for the provision of Automated Civil Aviation Regulatory Equipment to be located at Nnamdi Azikiwe International Airport.
“…This one also is the approval of the Outline Business Case for the establishment of the National Carrier. This is the sixth time the memorandum appeared before the council and sixth times got lucky to be passed by council.
The structure of the proposed airline – Federal Government would be owing not more than five per cent. So, five per cent is the maximum equity that government would take.
“Then, 46 per cent would be owned by Nigerian entrepreneurs. So, if you add that is 51 per cent. So, 51 per cent majority shareholding by Nigerians.
“And then, 49 per cent will be held by strategic equity partners or partners will be sourced during the procurement phase, which is the next phase.”
The minister revealed that the Nigeria Air, when operational, would generate over 70,000 jobs, saying “these 70,000 jobs, they are higher than the total number of civil servants that we have in the country.”
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