The Nigerian government said it will only be involved in the initial startup funding of the

This, the government will be doing by making a provision of $55 million as upfront startup which will be used to ensure the initial take-off of the airline later this year.

Hadi Sirika, Nigeria's Minister of State for Aviation, stated this on Monday, July 23, 2018, while responding to questions on the plans of the new airline slated to kick-off in December 2018.

He said, "In order to ensure take-off of the airline in 2018, the government will provide $55 million upfront grant/viability gap funding to finance startup capital and pay commitment fees for aircraft to be leased for initial operations and deposit for new aircraft whose delivery will begin in 2021.

ALSO READ: Here's everything you need to know about Nigeria's new national carrier, Nigeria Air

“The government is not funding the entire project. It’s just providing startup capital in the form of an upfront grant/viability gap funding. Once the strategic equity investor is in place, they will be expected to build on the initial investment made,” Sirika explained

Opinions of some Nigerians about the new national carrier

Nigeria Air operations

The government said it will own 5% of the equity while the company’s shares will be sold through an initial public offering. The rest of the 95% equity of Nigeria Air Limited will then be owned by the strategic equity investor and the general public.

On domain name

Immediately after the launch of the Nigeria Air in London last week, a Nigerian registered in anticipation of a buy-out at a whopping amount but the government said it has registered as its domain and will become active soon.

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