Less than 24hours after it announced Ethiopian Airline, the preferred bidder of proposed national carrier Nigeria Air, with MRS, Skyway Aviation Handling Company (SAHCO) and the Nigerian Sovereign Fund as Nigerian investors, Federal Government of Nigeria has removed Nigerian Sovereign Investment Authority (NSIA) as an Investor in the project.
Ethiopian Airlines became the preferred bidder for Nigeria Air Project with a 49% stake, partnering with MRS, Skypower Aviation Handling Company (SAHCO), and the Nigerian Sovereign Fund (46%), while the Nigerian Federal Government holds 5%. Â READ ALSO: Ethiopian Airline emerges preferred Nigeria Air bidder with 49% stake
Here’s the revised text with sentences approximately 20 words each:
However, in a total reversal, another statement signed by Special Assistant (Public Affairs) James Odaudu, titled “Error of inclusion of SWIA as an Investor in Nigeria Air,” read: “We have noted that the Nigerian Sovereign Investment Authority (NSIA) was inadvertently included as part of the private investors in the Nigeria Air project.
“We want to clarify that the NSIA is not involved in any capacity as a private equity owner of the airline, as it is a government entity. It should be clarified that the NSIA was not mentioned in the Minister’s presentation. It was only included in the general media brief, due to an error during its preparation.
“To remove any confusion, the equity ownership structure of Nigeria Air is as follows: Ethiopian Airlines 49%, Nigerian private investors (SAHCO, MRS, and other institutional investors) 46%, and the Federal Government 5%.”
“The public, especially the business community and the media should please take note.”
