Nigeria Air, the projected new national carrier, is scheduled to launch in April 2022.
Minister of Aviation, Alhaji Hadi Sirika, told State House correspondents that the proposal was approved by the Federal Executive Council, FEC.
According to the Minister the federal government will own 5% of the airline, while Nigerians entrepreneurs will own 46%, and other strategic partners, including foreign airlines, will own the remaining 49%
He also announced approval for the award of the N1bn contract for the provision of Automated Civil Aviation Regulatory Equipment, including software support and training, popularly known as the truth machine, to be situated at the Nnamdi Azikiwe International Airport, In the FCT.
Present economic growth
Minister of Finance Zainab Ahmad also told newsmen that the impact of the present economic growth would not be felt now until it had surpassed the population growth rate.
She said the National Bureau of Statistics’ Third Quarter GDP report for 2021, which was released last week, showed that there had been an improvement from the decline seen in 2020.
Agriculture, she continued, grew by 1.22%, a decrease from 1.3% in the second quarter of 2021, explaining further that it was because of a fall in its operations due to instability.
The oil sector’s contribution to GDP is was 7.49%, while the non-oil sector’s contribution was 2.51%, based on the report, she added.
She also said the proposed Federal Government’s gesture to pay N5000 monthly to poor Nigerians as a transportation grant will last for 12 months.
The FEC also authorised the Ministry of Transportation to award a 2-year contract worth over N6bn for the provision of training, logistics, operational equipment, and maintenance under the Integrated National Surveillance and Waterways Protection Solution Infrastructure, also known as the Deep Blue Project.
Reporting by Abdallah Bello; Editing by Daniel Adejo and Saadatu Albashir