ADVERTISEMENT
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Saturday, May 28, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Murtala Muhammed International Airport, Lagos

Murtala Muhammed International Airport, Lagos

Nigeria’s new national airline to commence operation this year – Minister

byAgency Report
July 8, 2018
2 min read

The proposed national airline for Nigeria would be unveiled before the end of the year, the Minister of State for Aviation, Hadi Sirika, has confirmed.

Mr Sirika, a former pilot, gave the assurance while receiving the Outline Business Case Certificate of Compliance for the establishment of the airline from Chidi Izuwah, the Director General, Infrastructure Concession Regulatory Commission (ICRC).

The minister said that the presentation of the certificate was a testament on how far the project had gone.

The proposed airline will gulp $8.8 million preliminary cost and $300 million as take-off cost.

The Nigerian government is not fully funding the airline as it has adopted midwifing it via the option of a Public Private partnership, to deliver a national carrier that would stand the test of time and be world class in operation and management, he said.

According to Mr Sirika, Nigeria will receive the first set of five airplanes for the airliner on December 19.

The airline will make profit in three years after operations, he said.

“We will make the investments and follow the business plan through private sector management.

“We intend to get a 30 aircraft market in five years. But we will begin with five aircraft on the day of lunch. It was not clear whether an order has been made for the aircraft, but the minister in May met a team from Boeing in Abuja.

“At Farnborough International Public Airshow coming July 18, 2018 in London, we will unveil the name, logo, colour scheme, the structure and the type of airplane about the national carrier.

“We will also place the order for the aircraft at the event,” he said.

Mr Sirika explained that the government would step in to cover the funding gap at the onset and ease out thereafter.

He said the government would not get involved in the management of the national carrier.

He said Nigeria’s population of over 180 million people is huge enough to support aviation, adding that the airline would take advantage of Bilateral Air Service Agreement (BASA) that the country has with over 70 countries.

According to him, it will also take advantage of the Africa Single Air Transport Market and will be the best player if the government gets it right.

“But if we don’t, it will become a threat to us. But I believe we are on the right track.

The minister also gave an assurance that the national carrier would not kill the domestic airlines operating in the country.

The Director General of ICRC, Mr Izuwah, said the presentation of the Certificate of Compliance was an official green light to proceed with the procurement process.

image (17)

He explained that the government would bring its contribution to kickstart the airline, adding that the amount of equity the partners would hold would determine government contribution.

According to him, start up cost over the next three years is about $300 million, but pre-start-up is $8.8 million.

“The rest of the investment will be equity injection which will happen in tranches because you do not need all the monies at once.

External capital injection also depends on the profitability of the airline.

“Though, you need that initial government financial to make it take off, but what is important is that the national carrier will be entirely private sector controlled.

“There will be zero government interference. But if that happens, it invalidates the certificate and the entire process.

“This is a bankable business, and the government will get a strategic partner who will invest in the national carrier and when we get through the bidding process, more facts will emerge.

“The government will have to spend the pre-start up cost like the brand name, the office and other start up.

“ It will be a world class airline with domestic, regional and international operations,” he said. (NAN)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

WATCH: Governor Yahaya Bello's Roadmap to Hope 2023

CITIZEN-FM AD


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: Why women cheat: what every Nigerian man should know







PT Mag Campaign AD

Previous Post

South East Govs congratulate Ugwuanyi on Supreme Court victory

Next Post

Half N300bn owed construction firms by Nigerian govt paid – Contractor

Agency Report

Agency Report

More News

Logo of the Peoples Democratic Party (PDP)

PDP says convention will hold as party leaders, governors meet

May 28, 2022
Mike Okiro, former Inspector-General of Police

How politicians pushed me to contest election, collected all my savings – Ex IGP Okiro

May 28, 2022
Mohammed Hayatu-Deen, a PDP presidential aspirant and former Managing Director of the now-defunct FSB International Bank.

Another PDP presidential aspirant, Hayatu-Deen, withdraws from race

May 28, 2022
PDP National Convention

PDP Convention: Atiku, Saraki, Wike, others battle for presidential ticket (LIVE UPDATES)

May 28, 2022
Swearing in of the Chairman of Akwa Ibom state chapter of APC, Mr Obong Stephen Leo Ntukekpo by the APC National Chairman Sen. Dr. Abdullahi Adamu and other NWC Member. [PHOTO CREDIT: @SenAbdullahiA]

APC postpones presidential primary

May 28, 2022
Minister of Transportation, Rotimi Amaechi. rail

Amaechi reacts to Supreme Court ruling, says he’s not on trial

May 27, 2022
Next Post
Dantata and Sawoe site used to illustrate the story. [Photo credit: Africa Business Directory - Africa Business Pages]

Half N300bn owed construction firms by Nigerian govt paid - Contractor

Athletes protest poor welfare, disrupt All Nigeria Championships

Nigeria cancels sporting event after protest by 'maltreated' athletes

Read All Comment

Search

AUN-PT Ad





Transport-Technology


Stanbic Ad


Access Bank Ad





Glo Ad


Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,851,827 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert

ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • Dubawa
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.