Nigeria is no longer interested in airline partnership – Ethiopian Airlines

Date:

July 1, 2024.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

Ethiopian Airlines has announced that the Nigerian government is no longer interested in partnership aimed at establishing the proposed Nigeria Air project.

The Airlines’ Group Chief Executive Officer, Mesfin Tasew, made the announcement in Dubai, the United Arab Emirates, according to Ethiopian Tribune.

“The Nigerian government has lost interest in partnering with a foreign airline,” Tasew was quoted as saying.

This announcement comes barely two months after the Federal Government indefinitely suspended the Nigeria Air project.

Recall that the Minister of Aviation and Aerospace Development, Festus Keyamo, had on May 27, announced the indefinite suspension of the Nigeria Air project during the ministerial briefing marking the first year of President Bola Tinubu’s administration.

Keyamo criticized the deal with Ethiopian Airlines, saying that the ownership structure of the suspended airline is not beneficial to the country.

The minister added that it would be irresponsible for the Federal Government to allow a foreign entity to monopolize Nigeria’s aviation industry, thereby compromising the growth of local businesses.

In 2023, the Ministry of Aviation, under former Minister Hadi Sirika, unveiled Nigeria Air three days before the end of former President Muhammadu Buhari’s administration.

The Nigeria Air project elicited concerns among stakeholders nationwide over the ownership arrangement which gave Ethiopian Airlines a 49 per cent equity stake.

The Federal Government had a 5 per cent equity, while a consortium of three Nigerian investors had 46 per cent.

Reacting to the deal in June 2023, the House of Representatives asked the Federal Government to suspend the operations of Nigeria Air over allegations of fraud.(www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

Share post:

Subscribe

Popular

More like this
Related

Meta Removes 63,000 Instagram Accounts in Nigeria Over ‘Sextortion’ Scams

LAGOS, July 24 - Meta Platforms (META.O) announced...

FG inaugurates committee on farmers’ soil health card scheme

July 24, 2024. Azonuchechi Chukwu. Federal Government has inaugurated the National...

Invest In Capital Projects To Generate Employment – Ex-CBN Director

July 24, 2024. Azonuchechi Chukwu. Ex-CBN Research Director, Dr Titus Okurounmu,...

Federal Government Resumes Mass Trial of Terrorism Suspects

July 24, 2024. Azonuchechi Chukwu. The Federal Government has resumed mass...
× How can I help you?