The Infrastructure Concession Regulatory Commission (ICRC) has expressed concern over the 16 per cent of the equity in the Nigeria Air project that remains unallotted, hindering progress required to seal the deal.
In a recent memo to the National Assembly, the Commission, which is leading the negotiations for the deal, stated that Ethiopian Airlines has 49 per cent, MRS Oil and Gas Limited has 15 per cent, SAHCO has 15 per cent, the Federal Government has five per cent, while 16 per cent is yet to be allocated.
The national carrier project was initiated by the Ministry of Transportation in 2016 as part of the Aviation Sector Roadmap, which was approved by then-President…
Source: Nigerian Tribune
