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| Ethiopian Airlines Announces Termination of Partnership for Nigeria Air Project |
Ethiopian Airlines Announces Termination of Partnership for Nigeria Air Project
Ethiopian Airlines' Group CEO, Mesfin Tasew, announced that the Nigerian government has lost interest in partnering with the airline to establish the proposed Nigeria Air project. This development comes two months after the Federal Government suspended the project indefinitely.
The Nigerian government had previously criticized the ownership structure of the deal, which gave Ethiopian Airlines a 49% equity stake, while the Federal Government held only 5%, and a consortium of Nigerian investors held 46%. The government expressed concerns about allowing a foreign entity to dominate the country's aviation industry, potentially harming local businesses.
The Nigeria Air project was unveiled in 2023, just before the end of former President Muhammadu Buhari's administration, and had been met with concerns and allegations of fraud, leading to the House of Representatives calling for its suspension in June 2023.
The Nigerian government had previously criticized the ownership structure of the deal, which gave Ethiopian Airlines a 49% equity stake, while the Federal Government held only 5%, and a consortium of Nigerian investors held 46%. The government expressed concerns about allowing a foreign entity to dominate the country's aviation industry, potentially harming local businesses.
The Nigeria Air project was unveiled in 2023, just before the end of former President Muhammadu Buhari's administration, and had been met with concerns and allegations of fraud, leading to the House of Representatives calling for its suspension in June 2023.