Connect with us

News

Nigeria Air: Federal Government Suspends Project Indefinitely

Published

on

Nigeria Air
  • Nigeria Air: Federal Government Suspends Project Indefinitely

Federal Government has suspended its controversial national carrier project, Nigeria Air, indefinitely.

The Minister of State for Aviation, Hadi Sirika, said on Wednesday while addressing journalists.

According to the minister, the decision to halt the project was taken at the Federal Executive Council (FEC) meeting on Wednesday.

“Today, the government at the FEC took decision to suspend the national carrier project till further notice.”

“It has nothing to do with pressure from stake holders and it also not for political reasons.”

“The decision to come up with national carrier in the first place was as a result of the lack of capacity of the existing carrier to meet demands,” Sirika added.

Sirika had on July 18, unveiled the name of the new airline, Nigeria Air, at the Farnborough Air Show in London.

The airline, according to him, would begin operation by the end of 2018 with an initial capital of $300 million.

However, the FEC has now suspended the Nigeria Air project until further notice.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Advertisement
Advertisement