September 24, (THEWILL) – The Federal Ministry of Aviation (FMA) has stated that the inclusion of the Nigerian Sovereign Investment Authority (NSIA), as part of the private investors in the Nigeria Air project is an error.
Making the clarification, the Ministry in an official statement issued Saturday, signed by
James Odaudu, Special Assistant (Public Affairs) to the Minister of Aviation, stated that the NSIA is not involved, in any way, as part of the private equity ownership of the airline, being a government establishment.
Odaudu stated that “It should be noted that the NSIA was not mentioned in the Honourable Minister’s presentation, but only in the general brief given to the media, an error made during its preparation.
“For the avoidance of doubt, the equity ownership structure of Nigeria Air stands as Ethiopian Airlines 49%, Nigerian private investors (SAHCO, MRS and other institutional investors) 46% and the Federal Government 5%.
“The public, especially the business community and the media should please take note”, the Ministry stated.
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
