The federal government has given an update on the proposed establishment of the national carrier indicating that $250m is to be raised by private investors to start the airline.
This was contained in a document released by the Ministry of Aviation, which provides an update on the Aviation Development Roadmap of the present administration.
The government explained that the next phase would be the placement of request for qualification (RFQ) in local and international media.
“$250 million approximately is to be raised to start up the airline by private investors,” the document stated.
There are six projects listed in the roadmap including the establishment of a national carrier to replace the defunct Nigeria Airways; the Maintenance, Repair and Overhaul (MRO) facility; the Airport Concession; the Aviation Leasing Company (ALC), the establishment of Aerotropolis, among others.
The proposed national carrier christened the Nigeria Air was unveiled in July 2018 in Farnborough, the United Kingdom without any aircraft flying until the project was suspended indefinitely.
But the Minister of Aviation, Senator Hadi Sirika insisted the project remains on course.
In the document, which was in response to the criticism over the delay in the actualisation of the project, the Ministry of Aviation explained that the project development phase has been complete with the development of the outline business case (OBC) and subsequent issuance of compliance certificate by the Infrastructure Concession Regulatory Commission (ICRC). On the airport concession, the ministry explained that it is in the same phase with the national carrier.
On the ALC, the government said the project is at an advanced stage in the procurement phase.
“A preferred partner has been selected and negotiations will commence soon,” it said.
The document revealed that the planned establishment of MRO for the purpose of local maintenance of aircraft is in the same stage with the ALC.
