FG Unveils Nigeria Air, Targets $ 1b Revenue In Five Years

THE Federal government yesterday unveiled the national carrier, Nigeria Air, with the target to generate $ 1 billion revenue within five years.

A Boeing 737- 800 series with 180- passenger capacity was unveiled yesterday by the Minister of Aviation, Hadi Sirika, alongside the Managing Director of Ethiopian Airlines, crew members of Nigeria Air and other stakeholders in the industry.

However, initial plans by the Federal Government for the airline to commence operation with five aircraft was yet not materialise as only one aircraft was unveiled but the minister said there was plan to increase the fleet to 35 aircraft within five years of operations.

He said: “The airline is equal to the size of the market, the dynamics of the market of Nigeria, to its geography and the fortunes of the country. Indeed, we do need the kind of infrastructure that we’re having today in the name of Nigeria Air Limited.

“This Nigeria Air Limited of course, obviously, it’s an entity known to Nigerian laws.

There is a partnership between entrepreneurs in Nigeria and the entrepreneurs in Ethiopian Airlines Consortium. Consortium is a company belonging to many partners, and it’s a very long journey.

“We started in 2016 and it ended today. There is a history behind all of these. There were challenges down to one for that matter. We didn’t allow them to make us lose focus. We stayed with our eyes on the ball and today we are here.”

On why the Federal Government unveiled the airline despite an ongoing court case, he explained: “There’s no court that stops us from continuing to bring developmental projects to our people. The constitution of Nigeria is very clear that it is within their rights to go to court for whatever reason they want to go to court, and it’s also within our own rights to do all the things that will promote the general well being of Nigeria and Nigerians and this is one of it; the economy of Nigeria, the centrality of civil aviation and the promotion of the economy and the value addition to the GDP.