The Federal Government (FG) suspends the Nigeria Air project indefinitely, following updates from Minister of Aviation and Aerospace Development, Festus Keyamo, during a ministerial press briefing in Abuja. This move aligns with the inauguration of President Bola Tinubu’s initial year in office.
Concerns Over Ownership Structure
Unveiled in 2023, the Nigeria Air project faced scrutiny over its ownership structure, notably Ethiopian Airlines’ substantial stake. Reacting to these concerns, the House of Representatives urged the suspension of Nigeria Air operations, citing doubts about the project’s legitimacy.
Emphasis on Indigenous Ownership
Keyamo underscored the necessity of indigenous ownership and ensuring that Nigeria reaps full benefits from the project. He criticized the previous ownership arrangement, asserting that it did not adequately prioritize the country’s interests. Keyamo stressed the imperative of ensuring that any future version of Nigeria Air is entirely Nigerian-owned, emphasizing the importance of local control and benefit.
The minister’s remarks highlight the government’s commitment to safeguarding Nigeria’s interests in the aviation sector. By advocating for indigenous ownership, Keyamo aims to ensure that the country retains control over its aviation assets and maximizes the economic benefits derived from them.
Awaiting Further Developments
Stakeholders anticipate updates on the Nigeria Air project’s fate as the government reevaluates its strategy and ownership framework. The suspension highlights the challenges of establishing a viable national carrier and navigating complex international partnerships in the aviation sector. Discussions continue to address concerns and devise a sustainable path forward for Nigeria’s aviation industry.
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