FEC suspends Nigeria Air, Aviation Minister says

FEC suspends Nigeria Air, Aviation Minister says

Addressing journalists in Abuja on Wednesday, the Minister of State Aviation, Hadi Sirika said the federal government took the decision to suspend the procurement of Nigeria Air at the federal executive council meeting.

In a separate statement, Sirika said: "The suspension was strategic and had nothing to do with politics".

The Minister of State, Aviation, has however announced that the national carrier has been suspended indefinitely.

Reasons have emerged on why the federal government on Wednesday announced the immediate suspension of its widely publicised national carrier, Nigeria Air.

"All commitments due will be honoured".

It is expected that on December 19, 2018, the airline would commence operation and subsequently grow capacity to 20 aircraft in the next five years, having started with five aircraft. "We thank the public for the suport as always".

In reaction, the Peoples Democratic Party (PDP) on Friday, July 20, accused the federal government of unveiling a non-existent national carrier in a desperate effort to deceive Nigerians now that election is around the corner.

According to him, the Federal Government will not own more than 5% (maximum) of the new National Carrier. "It will also create economic opportunities and jobs", he added. The financial model estimates cash flow requirements as follows: 2018, $55m - $8m is included here; 2019, $100m; and 2020, $145m.

"The remaining financial injection by government will be determined by the quantum of equity that the strategic equity partner will bring as a result of the PPP (public private partnership) competitive bidding process".

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