The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
uae1 hour ago
A consortium led by Ethiopian Airlines is the preferred bidder for shares in new Nigerian airline Nigeria Air, the country's aviation minister said on Friday.
The airline was one of President Muhammadu Buhari's 2015 election campaign promises.
Ethiopian Airlines will own a 49% stake in the new airline, while the Nigerian Sovereign Fund will take 46% and the Nigerian federal government the remaining 5%.
Aviation minister Hadi Sirika told reporters that Buhari's cabinet was expected to sign off on the shareholding plan in the next few weeks. Nigeria Air would have an initial capital of $300 million and plans to have 30 aircraft within four years, he said.
Nigeria Air will launch with service between the capital Abuja and Lagos, the commercial capital, and add other routes later.
"We are going to initially bring in six Boeing 737 aircraft and between third and fourth year the airline will be able to acquire up to 30 aircraft," Sirika said.
"Nigeria Air is a limited liability company that will have no government intervention," he added.
Nigeria has been seeking to set up a national carrier and develop its aviation infrastructure - currently seen as a barrier to economic growth - to create a hub for West Africa.
Africa's most populous country's previous national carrier, Nigeria Airways, was founded in 1958 and wholly owned by the government. It ceased to operate in 2003.
The entire plan will see cow-breeding and poultry projects come up near the massive wheat farm and the dairy farm will form the third phase
uae1 hour ago
Modi, 73, remains resoundingly popular after a decade in office, and he is widely expected to win a third term
asia1 hour ago
With over seven years of experience in branding and social media, and three years in motion graphics and editing, Arkan's expertise spans a wide range of creative domains
kt network1 hour ago
Names of leading brands in various sectors revealed in a new report by Brand Finance
uae2 hours ago
Four workers died when the drone struck a condensate storage tank at Khor Mor Complex, Dana Gas said in a statement to the ADX
mena2 hours ago
Experience the future of comfort and convenience with innovative smart furniture, elevating your lifestyle through seamless integration of technology and design
business technology review3 hours ago
The device is equipped solely with an AI-powered personal assistant tasked with carrying out a multitude of practical tasks
business technology review3 hours ago
Jayden John Jacob unveils the world's first free mental health app exclusively for men
business technology review3 hours ago