Connect with us

Business

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

Published

on

19 Views

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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

BREAKING: Dangote refinery Reduces petrol price from N880 to N840 per litre

Published

on

2 Views

….New rate takes effect from June 30.

The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, popularly known as petrol, from N880 to N840 per litre.

Anthony Chiejina, the Spokesman for the Dangote Group, confirmed the price adjustment on Monday night.

Chiejina said the new rate took effect on June 30.

He said, “PMS price has been reduced from N880 to N840 per litre effective 30th June,.

Recall that Dangote refinery hiked the price of petrol to N880 as tension escalated during the 12-day crisis between Israel and Iran, raising the price of crude oil to almost $80 per barrel.

Also, marketers anticipated that there would be a new price regime from Monday.

Dangote’s partners like MRS, Heyden and AP are expected to adjust their pump prices soon.

Continue Reading

Business

FG Suspends Implementation of Financial Reporting Council (Amendment) Act 2023

Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, announced the decision in a release on Monday.

Published

on

By

23 Views

• Minister of Industry, Trade and Investment, Dr Jumoke Oduwole

The Federal Government has suspended the implementation of contentious provisions in the Financial Reporting Council (Amendment) Act 2023 following concerns raised by private sector stakeholders.

Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, announced the decision in a release on Monday.

She said that it followed a series of high-level consultations with key industry groups.

These include the Nigeria Employers’ Consultative Association (NECA), the Association of Licensed Telecommunications Operators of Nigeria (ALTON), and the Oil Producers Trade Section (OPTS).

At the heart of the concerns is the reclassification of large private companies as Public Interest Entities, requiring them to remit annual dues between 0.02 and 0.05 percent of turnover without a ceiling.

This is in contrast to the ₦25 million cap placed on publicly listed companies regardless of their size.

Stakeholders warned that the provision could increase compliance costs and hurt investor confidence.

But the minister said the policy was part of President Bola Ahmed Tinubu’s pro-business posture under the 8-Point Agenda and has responded with practical measures.

She explained that a stakeholder consultation was held on March 26, 2025, leading to an administrative pause and the formation of a Technical Working Group.

The group, she noted, comprised representatives from NECA, MAN, ALTON, NACCIMA, CAC, SEC, and others and held six meetings over three weeks that culminated in the submission of a comprehensive report on April 17, 2025.

Based on the findings, Oduwole, said President Tinubu briefed and recommended the continuation of the pause pending legislative review.

“To provide immediate relief, the Ministry has now directed the Financial Reporting Council to impose an interim cap of ₦25 million on annual dues for private sector PIEs, aligning them with the publicly quoted companies.

Continue Reading

Business

Dangote Refinery to plough back N1.7trn into economy

From August 15, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers.

Published

on

By

24 Views

The Dangote Petroleum Refinery has earmarked to plough back N1.7 trillion gross annual savings from domestic fuel distributions into the economy.

In a statement, the company said that the daily distributions of 65 million litres of petrol, diesel and Jet AI and CNG nationwide would bolster the government’s presidential CNG initiative, and every key actors in the distributions value chains.

In a breakdown of the refinery’s benefits to all Nigerians, it emphasized  that the familiar narrative of  perennial fuel scarcity and adulterated fuel imports by marketers is being replaced by ”  no more fuel scarcity, and consistent supply of high quality petroleum products from the refinery.

It added that the refinery’s operations will likely cut down the nation’s inflation from the current 33 percent to 23 percent, while pushing the GDP growth rate from 2 percent to  3.4 percent.

Regarding the over N720 billion it was investing on deploying 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, the company said that it will significantly benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability.

The initiative, which eliminates transportation costs for fuel marketers and large-scale consumers, is expected to help reduce pump prices and inflation.

From August 15, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers, the company said.

According to the statement from the refinery, it aims to meet Nigeria’s daily consumption of 65 million litres of refined petroleum products.

This includes 45 million litres of Premium Motor Spirit (PMS) or petrol, 15 million litres of diesel, and 5 million litres of aviation fuel.

The initiative is also expected to resuscitate dormant filling stations, fostering job creation in the process.

Over 15,000 direct jobs are projected to be created across the logistics chain, including drivers, station managers, and attendants at the CNG stations.

Continue Reading

Trending