The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo has said that the federal government will not invest its money in a national carrier project.
He said the project is open for private and public investors.
Keyamo said this in a post on his official X (formerly Twitter) account on Sunday.
The Minister said the government has priority projects including creating a policy environment that supports the growth and sustainability of existing local airline operators.
Keyamo said, “The correct story should be that the FG will not invest a dime in establishing a National Carrier, but is always open to proposals from private or public entities, both in and out of the country that truly benefit Nigeria and Nigerians in establishing a National Carrier.
“Before that happens, we are concentrating on developing policies to ensure the growth and survival of our local operators.”
The Nigeria Air project was unveiled in 2023 by former Minister of Aviation Hadi Sirika, just days before the end of President Muhammadu Buhari’s administration.
The launch sparked widespread concerns about the ownership arrangement.
Based on the arrangement, Ethiopian Airlines controls 49 percent equity stake, while the Federal Government held 5 percent, and a consortium of three Nigerian investors owned 46 percent.
The matter was dragged to court by indigenous airlines.
Keyamo announced presidential approval to suspend the Nigeria Air project.
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