The minister revealed that the council also approved N1.49 billion for the provision of Automated Civil Aviation Regulatory Equipment to be located at Nnamdi Azikiwe International Airport.
“Today in Council, Ministry of Aviation presented two memoranda. The first one is approval for the award of contract for the provision of Automated Civil Aviation Regulatory Equipment, including the software support and training, which will be located at Nnamdi Azikiwe International Airport, Abuja.
“In summary, this is the software that will allow all of the activities of civil aviation regulations to be done electronically on one platform, including payments, follow-ups on personnel licenses, medicals, economic regulation of airlines, safety regulations of airlines and all other businesses within the envelope of civil aviation, will be monitored by this single software. So, that has been approved.
“This one also is the approval of the Outline Business Case for the establishment of the National Carrier. This is the sixth time the memorandum appeared before the council and sixth times got lucky to be passed by council.
The structure of the proposed airline – Federal Government would be owing not more than five percent. So, five percent is the maximum equity that government would take.
“Then, 46 per cent would be owned by Nigerian entrepreneurs. So, if you add that is 51 per cent. So, 51 per cent majority shareholding by Nigerians.
“And then, 49 per cent will be held by strategic equity partners or partners will be sourced during the procurement phase, which is the next phase.’’
The minister revealed that the Nigeria Air, when operational, would generate over 70,000 jobs, saying “these 70,000 jobs, they are higher than the total number of civil servants that we have in the country’’.
Also speaking on the outcome of the meeting, the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, said she presented to the council for information and discussion the third-quarter GDP report for 2021.
The report was released last Thursday by the National Bureau of Statistics.
“The result shows an improvement from the contraction that we witnessed in 2020. Recall that we had negative growth in Q2 and Q3, 2020.
“We entered into a recession technically and then exited recession by the fourth quarter of 2020.
“So, this report shows that we now have four consistent quarters of growth from Q4 2020 to Q3, 2021.
“The GDP third quarter report shows a growth of 4.03 per cent in the third quarter 2021, compared to a contraction of minus 3.62 per cent in the third quarter of last year.
“So, part of the economic activities that were the major drivers of growth within this reporting period is services which grew by 8.41 per cent,’’ she said.