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Nigeria Air: Sirika opens up, accuses lawmaker of demanding 5% stake

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The Former minister of Aviation, Hadi Sirika has finally reacted to controversies surrounding the unveiling of the new national carrier, Nigeria Air, 48 hours before his exit.

The purported Nigeria Air was discovered to be a hired aircraft from Ethiopian Airline, repainted and rebranded in Nigeria colours.

The scam has put the country in bad light globally. However, Sirika has come out to say high powered individuals in the country also contributed in frustrating the good intention of former President Muhammadu Buhari towards the project.

He said that the Chairman of the House Committee on Aviation, Nnolim Nnaji requested for five percent share in the airline for him and his people which he turndown directing him to the stakeholders.

In an interview on AriseTV, Sirika while responding on the issue of Hon Nnaji who called Nigeria Air launch a fraud, he said: “I will respond now. I will say exactly what I told him in private when we spoke.

“Hon Nnaji asked me that I should give him 5 percent of Nigeria to carry him along with his people, and I said to him at that time, Honourable, a bidding process that has taken place, and some people won. So, I think you should go to those people and ask for the 5 percent.”

“Let’s be fair, Hon Nnaji didn’t say other members. He said he wants it for himself and his people. His people could his be his family, could be members and it could be leadership. I don’t know, but he insisted on 5 percent. I said that he should relax and approach the owners. That’s exactly what I told him.”

The former Minister also criticised Nnaji and the aviation committee for conducting what translated to a “predetermined hearing”.

‘I was a member of the House of Reps 20 years ago, and 10.”

Meanwhile, Chairman, House of Representatives Committee on Aviation, Honourable Nnolim Nnaji has denied asking for 5% equity in Nigeria Air, saying the ex-minister of Aviation, Senator Hadi Sirika, ‘is a drowning man struggling to grab anything on his way to survive the barrage of attacks he has been receiving since his controversial unveiling ceremony of the so called Nigeria Air.’

Nnaji in a statement on Sunday while responding to Sirika’s allegations, said the former Minister was not happy that he had demanded transparency and due process in all matters relating to aviation sector, especially Nigeria Air project.

He added that the House suspended further questions when the Airline Operators of Nigeria (AON) sued the Ministry and Nigeria Air to court and got injunction to stop it.

“Ordinarily l would not have bothered to reply to his allegations of my demand for 5 percent equity in Nigeria Air as he claimed during his interview on Arise Television but l believe l owe my constituents and indeed Nigerians a duty to put the records straight.

“It is on record that last year when the Minister announced Ethiopian Airlines as core investor in NigeriaAir, my committee which was also inundated with petitions from various stakeholders regarding that announcement invited the Minister and his team to furnish the committee with the details of the project.

“The committee requested for the evidence of the bid process that gave Ethiopian Airlines the award and, the full business case as prepared by the Nigerian Infrastructure Concession Regulatory Commission, (ICRC) which was supposed to spell out the details of all the investors and their equity contributions.

“Sirika at that meeting said Full Business Case was still being worked out by the ICRC and promised to make it available to the committee as soon it was ready which he failed to do before Airline Operators of Nigeria, (AON) took the Ministry to court and got injunction restraining it from going ahead with the project.”, Nnaji said.

The lawmaker, who said all enquires were suspended to avoid court contempt, added that he crossed Sirika’s path again, when issued a statement against threats of mass resignations by key personnel of the Nigeria Civil Aviation Authority, (NCAA) due to pressures from the Ministry to give waivers to Nigeria Air to enable it secure Air Operator’s Certificate, (AOC).

“Of course, we suspended our discussions and enquiries on the project the moment court got involved. Normally when a matter is before the court the parliament does not discuss it.

“However, on May 20th 2023, l received reports of threats of mass resignations by key personnel of the Nigeria Civil Aviation Authority, (NCAA) due to pressures from the Ministry to give waivers to Nigeria Air to enable it secure Air Operator’s Certificate, (AOC) so that it could take Off before the exit of the last administration of President Muhammadu Buhari.

“I quickly issued a statement warning the former Minister against subverting the authority of NCAA because of its severe consequences on the Nigeria’s air transport sector. It is also a common knowledge that the Nigerian institutional investors he mentioned as participants have all denied him.

“It is not strange that Sirika came up with this spurious allegations against my person because l remained consistent in demanding that he followed due process.

“He should not deviate from the subject matter. Let him tell Nigerians the truth about the contraption he sold to us as Nigeria Air. Nnolim Nnaji is not his problem.”, Nnaji added.

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Obi Meets UK Business Leaders, Advocates Stronger Support for MSMEs

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Presidential hopeful of the National Democratic Congress (NDC), Mr. Peter Obi, has reiterated the critical role of micro, small, and medium-sized enterprises (MSMEs) in driving Nigeria’s economic growth and reducing unemployment.

Obi made the remarks on Tuesday following a series of meetings in London with stakeholders in British politics and the business community, including Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC).

According to Obi, discussions with Lord Marland focused on prospective trade opportunities, economic advancement, and strategies for promoting small businesses across Nigeria.

Drawing comparisons with rapidly developing economies such as China, Indonesia, and Vietnam, Obi stressed that sustainable economic growth and job creation can only be achieved through deliberate support for MSMEs.

The former Anambra State governor maintained that small businesses remain the backbone of the economy and called for stronger policies aimed at boosting development and creating employment opportunities, particularly in the agriculture and manufacturing sectors.

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What President Tinubu Tells World Leaders At Nairobi’s Summit

“Every single dollar that leaves our treasury to pay punitive interest rates is a dollar that did not go into our steel sector, textile mills, agro-processing plants or digital industries,” the President stated.

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President Bola Tinubu has called for a major shift in Africa’s economic structure, insisting that the continent must stop exporting raw materials and start building industries capable of competing globally.

Tinubu spoke on Tuesday at the Africa Forward Summit in Nairobi, Kenya, where he led Nigeria’s delegation of top government officials and private sector leaders to discussions on industrialisation, trade and economic development across Africa.

The President said Africa’s continued dependence on exporting crude oil, minerals and agricultural commodities while importing finished products was damaging local industries and slowing economic growth.

“We export raw minerals, crude oil and agricultural commodities, and we import processed goods at a premium.

This pattern is not an accident. It is the product of a global financial architecture that starves our industries of affordable capital,” Tinubu said.

He argued that African countries still face unfair borrowing conditions despite implementing difficult economic reforms aimed at stabilising their economies and attracting investment.

According to him, Nigeria’s recent reforms, including fuel subsidy removal, exchange rate unification and banking recapitalisation, were necessary steps taken to reposition the economy for long-term growth.

“Every single dollar that leaves our treasury to pay punitive interest rates is a dollar that did not go into our steel sector, textile mills, agro-processing plants or digital industries,” the President stated.

Tinubu also used the summit to promote Nigeria’s maritime and blue economy potential, pledging stronger regional cooperation through the country’s Deep Blue Project to improve security in the Gulf of Guinea.

“Secure sea lanes, predictable regulation and functional courts are the preconditions that unlock private capital.

Nigeria is ready to work with other Gulf of Guinea states through shared maritime intelligence and coordinated enforcement,” he said.

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France Mobilises €23bn Private Capital For Investments In Africa

Nigeria’s President Bola Tinubu participated in the gathering, which observers described as a major diplomatic and economic engagement aimed at deepening Africa-France cooperation.

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•Photo: French President Emmanuel Macron attends the Africa Forward Summit 2026 at the Kenyatta International Convention Centre (KICC), in Nairobi, Kenya, May 12, 2026. REUTERS/Monicah Mwangi.

French President Emmanuel Macron said yesterday France had ‌mobilised €23 billion ($27.01 billion) during the African Forward Summit in Nairobi for investments in Africa, to develop new partnerships in Africa after seeing its influence fade in former colonies in West Africa.

More than 30 African leaders, as well as heads of multilateral financial institutions and business executives from across Africa and France, are attending the Nairobi summit, the first France has held in an English-speaking country.

Macron said that rather than African leaders borrowing to fund infrastructure development, he supported creating a first-loss guarantee mechanism to de-risk investments on the continent and would lobby for the idea at the G7 summit next month.

The summit, co-hosted by France and Kenya, has brought together more than 30 African heads of state, global investors, financial institutions and development partners to discuss issues ranging from climate financing and energy transition to digital transformation and industrial growth.

Nigeria’s President Bola Tinubu participated in the gathering, which observers described as a major diplomatic and economic engagement aimed at deepening Africa-France cooperation.

U.N. Secretary-General Antonio Guterres noted that African countries face borrowing costs that are twice as high on average as advanced industrialized economies.”That is not a market verdict on Africa. It is a verdict ⁠on the injustices of the system,” he told the summit.

Decrying what they say are biases against them that overstate the continent’s risk, African governments have called for changes to the methodologies used by credit ratings agencies.

Major agencies including S&P Global Ratings, Moody’s and Fitch reject ⁠accusations of regional bias, saying their ratings are based on globally applied, publicly disclosed criteria.

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