The Federal Executive Council (FEC) is divided on the modality for the establishment of the proposed national carrier called Nigeria Air, the Minister of Transportation, Rotimi Amaechi, announced on Thursday.
Amaechi, who disclosed this during his valedictory press briefing in Abuja, also revealed that China had insisted that Nigeria opens a sinking fund and an escrow account in order to be able to seamlessly repay the loans which Nigeria borrowed from the Asian country for the construction of rail projects, particularly the Abuja-Kaduna rail.
The minister stated that members of the federal cabinet had different beliefs and positions as regards the establishment of a national carrier for Nigeria, but was quick to state that the project had not been abandoned.
He said, “On national carrier, (the) cabinet is divided on the issue of modality. There are those who believe that the Federal Government should invest and then we can sell the equity later.
“There are also those who believe that no, and from day one they say let us get investors in and give them the franchise of Nigeria Airways or Air Nigeria or whatever is called. That is where we are and that is what held it down. But as for whether it is still in our plan, it is and has not been abandoned.”