FG to list Nigeria Air on NGX

The Minister of Aviation, Hadi Sirka recently disclosed that the Federal Government is hoping to list Nigeria Air on the Nigerian Exchange. At that, Nigerians would be allowed to buy shares in the airline.

The Minister of Aviation, Hadi Sirka, disclosed this at a briefing in Abuja, where he explained that 46 per cent stake in the airline was exclusively for Nigerians, five per cent was for government, while 49 per cent was for strategic equity partners, which were assumed to be foreign investors.

Responding to a question on how the 46 per cent stake to be owned by Nigerians would be acquired, Sirika said, “It will be purchased exactly the way you buy shares in every company.

“This is because Nigeria Air is a limited liability company for now, registered under the law of the land and structured in a PPP (public private partnership) manner. “So you purchase it the same way you purchase shares in any company and later it is our hope that it will be listed and go through IPO (Initial Public Offering).

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