The federal government has approved N47 billion for the take-off of Nigeria Air, Daily Trust reports.
Hadi Sirika, the minister of state for aviation said the fund for the take off the national carrier project has already been provided in the 2019 budget passed by the National Assembly recently.
Sirika said President Muhammadu Buhari has directed that the Viability Gap Funding (VGF) be provided for the Nigeria Air Project which was suspended eight months ago.
He said: “President Muhammadu Buhari had directed that the Viability Gap Funding (VGF) for the project be provided for in the 2019 Appropriation; which the National Assembly has graciously done.”
“I assure the general public, and more importantly, the prospective partners and investors, that Nigeria Air project is fully alive and on course,”Sirika said.
It was gathered that the VGF is $155 million (N47.43bn at N306/$1 exchange rate).
Meanwhile,Legit.ngpreviously reported that Sirika had on Monday, March 25, said plans were underway by the federal government to revisit the national carrier project.
The minister made this known while defending the ministry’s budget before the Senate committee on aviation in Abuja.
He said that the ministry only suspended the project to put adequate measures in place, promising that the project would be delivered soon.
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