Prior to President Muhammadu Buhari’s transfer of power to a new administration on May 29, 2023, according to Aviation Minister Hadi Sirika, Nigeria Air will start operations.
The minister disclosed this during the 10th Aviation Stakeholders Meeting in Abuja on Thursday.
Sirika, who stated the functioning of the new airline has been impeded by the court challenges, also disclosed that all the Nigerian owned airlines were invited to invest in the Nigeria Air but they rejected because they did not trust in the proposal.
He explained that Ethiopian Airlines submitted a better proposal and was selected as the preferred bidder due to the experience it has demonstrated and the length of time it has been in business.
“Negotiation meetings with the Ethiopian Airlines Group Consortium and the Federal Government of Nigeria are currently underway,” the minister declared.
“Operation of local and international flights will start soon. By the conclusion of this government, before May 29, we will fly.”
Sirika further said the benefits Nigeria stands to receive from the formation of the national carrier include reduced capital flight from Nigeria, acquire the optimal benefit of BASA and SAATM and development of an aviation hub.
Additionally, he claimed that the national carrier would boost the country’s GDP, promote hospitality and tourism, support the expansion and development of Nigeria’s agricultural sector, and generate jobs near the Agro-Cargo Terminals.
Regarding the stuck funds of international airlines, the Minister said the federal government has put up mechanisms to guarantee that the money doesn’t pile up again.
He said the ministry was handicapped as it has limited capacity as to what it can do on the monies since the Central Bank of Nigeria (CBN) oversees and handles foreign exchange problem.
Remember that the International Air Transport Association (IATA) recently reported that the trapped funds belonging to foreign airlines operating in Nigeria have increased from $662 million in January 2023 to $743,721,097.
