Nigeria:  National airline to be resurrected  by 2022

 

The Nigerian government said Wednesday that it expects to revive the long-defunct national airline, Air Nigeria, by April 2022 after approval for a restructuring plan for the airline.

 

This move comes following a well-structured plan that outlines the business arrangement of the national carrier, which had halted operations back in 2012 due to operational challenges. The weekly cabinet meeting has approved the NationalCarrier’s revival plan, as Hadi Sirika, the country’s minister of aviation, told reporters at a press briefing in Abuja.

 

According to the minister, the national airline will be managed by a company in which the Nigerian government will hold a 5 percent stake and Nigerian entrepreneurs will hold over 46 percent, while “the remaining 49 percent will be reserved for yet-to-be assigned strategic equity partners”, including foreign investors.

 

Sirika further said, as soon as the national carrier goes operational, it would eventually generate over 70,000 jobs, especially for the jobless youths in the country.

 

The West African country had a national airline as early as the 1950s, which operated regional and domestic passenger services. Due to financial and operational challenges, Air Nigeria suddenly stopped operations in September 2012.

 

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