FG asks private firms to submit proposals for Nigeria Air

The Federal Government has asked firms interested in the planned national carrier, Nigeria Air, to submit proposals as it itches towards its take-off.

The Ministry of Aviation disclosed this on Monday in a statement obtained on its official Twitter handle.

Minister of Aviation, Hadi Sirika, announced last week that the government would issue requests for proposals to intending investors.

He said the government would own only five per cent of the airline shares and had already begun with the AOC (Air Operator Certificate).

According to the statement, the FG seeks to reposition the aviation sector through diversification of the economy and improve economic growth.

“The Federal Government of Nigeria (FGN), through the Federal Ministry of Aviation, is seeking to reposition Nigeria’s aviation sector, as part of efforts towards the diversification of the economy, promoting the competitiveness of the sector, boosting productivity, and enhancing economic growth,” it stated.

“To this end, the FGN, through the Federal Ministry of Aviation, is inviting interested private parties to submit proposals for the take-over and further development of the National Carrier, the recently launched ‘Nigeria Air’ to take advantage of the opportunities of the largest market in Africa.”

The statement added that interested bidders should visit the website for further information, breaking down percentages for different investors.

“The private sector partners/consortia are expected to comprise an International Airline (max. 49% shares), and Nigerian Financial and Institutional Investors (min. 46% shares), so that the total Nigerian shareholding will hold a minimum of 51% of the shares of Nigeria Air’ (including the 5% non-interactive FGN share), as required by international laws for a National Carrier,” it added