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© OKN MEDIA PUBLISHING 2022 - All rights reserved
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Nigeria Air Needs $300m Initial Capital – FG

Farouk Mohammed
By Farouk Mohammed
Published: July 20, 2018
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The Federal Government (FG) of Nigeria is expected to invest an initial takeoff capital of between $150 million and $300 million to get the country’s new national carrier ‘Nigeria Air‘ up and running.

As a result, the federal government, it was learned, is looking for strategic partners to operate the carrier.

This was gathered from a document sighted by an international wire service on Thursday.

The partners are expected to run the airline as a private sector initiative to avoid suffering the fate of defunct Nigeria Airways.

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The former national carrier was fully owned and managed by the government before it went under in 2003.

Nigeria’s minister of state for aviation, Hadi Sirika, said on Wednesday that the government would not own more than five per cent of the new carrier.

The President Muhammadu Buhari administration plans to launch the airline in December.

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TAGGED:FGNigeria Air
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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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