FG to rent planes for Nigeria Air starting next year

The federal government says it will rent three aircrafts to kick-start operations for the Nigeria Air slated for April 2022.
Hadi Sirika, Minister of Aviation, made this known to journalists in Abuja on Thursday.
Mr Sirika said it would take three to five years for an aircraft to be delivered to the Nigerian government if newly ordered, which would stall the flag-off of Nigeria Air.
To pre-empt this delay, the government has decided to adopt the wet-lease arrangement which covers the hire of an aircraft, including the provision of a flight crew and sometimes fuel.
“They will start with wet-leased aircraft and that’s how 90 percent of airlines in the world would have started,” he said.
“So they will start with a wet-lease of three aircraft and then continue to expand, place orders and then get deliveries,” the minister added.
He explained that investment options are open to Nigerians at 46 per cent stake, while 5 per cent belong to the government and the remaining 49 per cent for foreign investors.
“Nigeria Air would be quoted on the stock exchange and Nigerians would be allowed to buy shares in the airline,” Mr Sidika said, adding that the government would begin accepting proposals from next week.
“We will release what is called Request for Proposals very soon, I believe next week. And this Request for Proposals will describe what and what we are asking for,” he said.
According to him, “It will be purchased exactly the way you buy shares in every company.
“This is because Nigeria Air is a limited liability company for now, registered under the law of the land and structured in a public-private partnership (PPP) manner.
“So you purchase it the same way you purchase shares in any company and later it is our hope that it will be listed and go through IPO (Initial Public Offering) and so on,” he said.
Furthermore, the minister said the government was preparing 12,000 hectares to accommodate Nigeria Air facility which upon completion would be likened to an airport city.
“In that 12,000 hectares of land, of which all of it is a free zone, there will be the MRO facility, a second runway, new terminal building and various businesses. It is going to be a whole airport city,” Mr Sirika said.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

Economy
Kano govt warns mining firms against abandoning sites without reclamation
The Kano government has warned mining companies operating in the state not to abandon mining sites without carrying out mandatory environmental reclamation measures.

Politics
Cross River PDP ratifies Bullem as chairman, endorses Wike’s coalition
PDP in Cross River has ratified Francis Bullem as its substantive chairman and endorsed the Rainbow Coalition led by Nyesom Wike.

Politics
Gov Buni’s achievements make APC’s 2027 campaign easier: Commissioner
Kaigama Umar, Yobe’s commissioner for commerce, industry and tourism, says Governor Mai Buni’s developmental achievements will shape the party’s election campaign.

Rights
LASCOPA resolves 10,720 complaints, secures N759 million redress
LASCOPA says it has secured ₦759.35 million in consumer redress and resolved 10,720 complaints in six years.

Africa
South Africa extend AACT lead as Kenya’s Muthomi tops individual standings
The defending champions returned a combined score of 309 after 36 holes on Thursday to maintain their lead in the week-long championship.

Showbiz
Shettima challenges Nigerians, other Africans to monetise creative power
According to the vice-president, Nigeria’s hosting of CANEX Weekend for the first time recognises the country’s growing influence in the creative economy.





