The Federal Government is inviting expressions of interest for the proposed flag carrier named Nigeria Air.
The Ministry of Aviation revealed this Monday in a press release shared on its Twitter account.
Last week, Aviation Minister Hadi Sirika announced that the government would issue tenders to future investors.
He added that the government will only hold 5% of the airline’s shares and that it had already started with the AOC (Air Operator Certificate).
“The Federal Government of Nigeria (FGN), through the Federal Ministry of Aviation, seeks to reposition Nigeria’s aviation sector, as part of efforts to diversify the economy, promote competitive of the sector, boosting productivity and strengthening economic growth.
“To this end, the FGN, through the Federal Ministry of Aviation, invites interested private parties to submit proposals for the acquisition and further development of the flag carrier, the recently launched ‘Nigeria Air’ in order to take advantage opportunities from Africa’s largest market,” the tweet read.
The statement adds that interested bidders should visit a dedicated website for more information, breaking down the percentages for different investors.
“The private sector partners/consortia are expected to include an international airline (max. 49% share) and Nigerian financial and institutional investors (min. 46% share), so that the total Nigerian shareholding will hold a minimum of 51% of Nigeria Air’s shares (including FGN’s 5% non-interactive share), as required by international laws for a national carrier,” he added.