Ethiopian Airlines has announced that the Nigerian government is no longer interested in establishing the proposed Nigeria Air joint venture.<\/p>\n
Mesfin Tasew, the Group\u2019s Chief Executive Officer, revealed this information over the weekend in Dubai, as reported by the Ethiopian Tribune, a major Ethiopian media outlet.<\/p>\n
The Nigeria Air project was first announced by the administration of former President Muhammadu Buhari on July 18, 2018, with the aim of reviving the defunct Nigerian Airways. However, the project faced immediate challenges. Just two months later, it was suspended due to concerns about its relevance and sustainability. The airline was projected to incur $8.8 million in preliminary costs and $300 million in take-off costs.<\/p>\n
In 2022, Ethiopian Airlines won the bid to manage Nigeria Air, agreeing to a structure where they would hold a 49% stake, the Federal Government 5%, SAHCO 15%, and other investors 31%. This arrangement aimed to bring in expertise and investment from Ethiopian Airlines while retaining significant Nigerian ownership.<\/p>\n
Despite these plans, the project continued to face hurdles. In May 2023, just before the end of the previous administration, Aviation Minister Hadi Sirika officially launched Nigeria Air. However, by June 2023, the House of Representatives criticized the launch process, calling it fraudulent. The House Committee on Aviation passed a resolution asking the federal government to suspend Nigeria Air\u2019s operations.<\/p>\n
The current Minister of Aviation and Aerospace Development, Festus Keyamo, has been vocal in his criticism of the deal with Ethiopian Airlines, stating that it was not beneficial for the country in the long run. In May 2024, Keyamo announced the indefinite suspension of the Nigeria Air project during a briefing marking President Bola Tinubu\u2019s first year in office.<\/p>\n
Currently, former Aviation Minister Hadi Sirika is being prosecuted by the Economic and Financial Crimes Commission (EFCC) for alleged money laundering, contract fraud in the ministry, and issues related to Nigeria Air. These controversies have highlighted significant challenges and discrepancies in the nation\u2019s aviation sector, prompting calls for greater transparency and accountability.<\/p>\n
The suspension of Nigeria Air marks a significant setback in efforts to revitalize the Nigerian aviation industry. Stakeholders and industry experts are now calling for a thorough review of the sector to address the underlying issues that have plagued the project. They emphasize the need for strategic planning, robust regulatory frameworks, and effective oversight to ensure the sustainability and success of future aviation initiatives.<\/p>\n
In the wake of this development, the Nigerian government is expected to reassess its approach to the aviation sector, potentially exploring new partnerships and models to achieve its goals.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethiopian Airlines has announced that the Nigerian government is no longer interested in establishing the proposed Nigeria Air joint venture. Mesfin Tasew, the Group\u2019s Chief Executive Officer, revealed this information over the weekend in Dubai, as reported by the Ethiopian Tribune, a major Ethiopian media outlet. The Nigeria Air project was first announced by the […]<\/p>\n","protected":false},"author":27,"featured_media":37000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-36999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/36999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=36999"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/36999\/revisions"}],"predecessor-version":[{"id":37003,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/36999\/revisions\/37003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/37000"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=36999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=36999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=36999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}