FG makes U-turn, says NSIA not stakeholder in Nigeria Air

Hadi Sirika, minister of aviation, says the Nigerian Sovereign Investment Authority (NSIA) is not an investor in the Nigeria Air project.

Sirika made the clarification in a statement issued by James Odaudu, his special assistant on public affairs, on Saturday.

The minister had listed NSIA as part of the local investors with stakes in the national carrier.

He said the NSIA is not part of the private equity ownership of the airline, adding that the error was made during his media briefing.

“We wish to clarify that the Authority (NSIA) is not part of the private equity ownership of the airline, being a government establishment,” Sirika said.

“For the avoidance of doubt, the equity ownership structure of Nigeria Air stands as 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 note.”