Nigeria Air: Project on Indefinite Hold
Min. Keyamo confirms: Nigeria Air development suspended infinitely.
Nigeria Air, the nation’s anticipated flag carrier, remains suspended indefinitely, as confirmed by Minister of Aviation and Aerospace Development, Festus Keyamo during a recent ministerial briefing in Abuja.
During the televised briefing on May 27, 2024, to commemorate the first anniversary of President Bola Ahmed Tinubu’s administration, Minister Keyamo stated:
“Air Nigeria will be indigenous for the whole of Nigeria and for the full benefit of Nigeria, not with 60% of the profits going to another country. How would that benefit us? It stays suspended and will remain so.”
In September 2022, under Buhari’s administration, it was announced that the Nigeria Air project would involve Ethiopian Airlines acquiring a 49% stake.
Nigerian investors, including MRS, SAHCO, and Sovereign Fund, would own 46%, while the Federal Government of Nigeria (FGN) would retain a 5% stake in the project.
In addition, Minister Keyamo hinted at the potential resumption of cargo flights between Nigeria and Saudi Arabia.
