The national carrier, Nigeria Air, will gulp about N1.3bn in the 2023 fiscal year.
The details of the Appropriation Bill indicated that the working capital for the establishment would cost N700m; the establishment of the national carrier would cost N400m, while the consultancy for the establishment of the carrier would gulp N200m.
The Minister of Aviation, Hadi Sirika, announced in September that Ethiopian Airlines Consortium was selected as the preferred bidder after a careful, detailed and the Infrastructure Concession Regulatory Commission-governed selection process.
He said Ethiopian Airlines would own 49 per cent; a consortium of three Nigerian investors, MRS, SAHCO and the Nigerian Sovereign Fund, 46 per cent; while the Federal Government would own the remaining five per cent. (Punch)