Economy
Nigeria Air Project: FG Approves N47bn
- Nigeria Air Project: FG Approves N47bn
The Minister of State for Aviation, Hadi Sirika, on Monday said the Federal Government has approved N47.43 billion for the Nigeria Air project in the newly signed 2019 budget.
The minister disclosed this while trying to explain that the Minister of Transportation, Rotimi Amaechi, was misquoted in reports which stated Amaechi said the FEC was divided on the project.
Sirika noted in a statement issued by the Deputy Director, Press and Public Affairs, aviation ministry, James Odaudu, that “President Muhammadu Buhari directed that the viability gap funding for the project be provided for in the 2019 Appropriation which the National Assembly had graciously done.”
Last year, the minister said a viability gap funding of $155 million (N47.43bn) was required to kick start the Nigeria Air Project. With the signing of the 2019 budget, the VGF has now been provided.
Meanwhile, President Muhammadu Buhari signed Nigeria’s N8.91 trillion 2019 budget on Monday.
Experts believe its implementation will enhance economic activity and further growth across all sectors.