THE ICRC EXPLAINS NATIONAL CARRIER PROCEDURES

Tunji Wusu –

The Ministry of Aviation has been cleared by the Infrastructure Concession Regulatory Commission (ICRC) of any concealment and non-compliance with the regulations governing the implementation of the public-private partnership of the projected national carrier, Nigeria Air.
According to a memo sent to the National Assembly by the organization tasked with handling the Outline Business Case for the planned national airline, the project had all necessary permits and had gone through the proper channels.

Citing passages from the memo from the Commission, which is overseeing the deal’s discussions, it was revealed that Ethiopian Airlines now holds 49% of the shares, followed by MRS Oil and Gas Limited with 15%, SAHCO with 15%, the Federal Government with 5%, and the remaining 16%, which had not to be allocated.

“According to the ICRC report, the Federal Executive Council rejected the plan five times under the Buhari government before finally approving it the sixth time.

“As part of the Aviation Sector Roadmap, which Mr. President (Muhammadu Buhari) endorsed, the national carrier project was started by the Ministry of Transportation in 2016. The project was designed with public-private partnership implementation in mind.