Tender process opens for Nigeria Air investors

Requests for proposals from potential strategic equity partners for Nigeria Air (Lagos) have opened with certification approval expected in June 2022, according to the project leader, Tianaero Nigeria.

The consultancy confirmed to ch-aviation the Requests for Proposal (RFP) for the shareholder consortium would be published in all Nigerian newspapers on March 7, 2022. The bidder selection was expected to be finalised by June 2022, along with the finalisation of an Air Operator’s Certificate (AOC).

This clarified earlier conflicting reports where Nigeria’s Infrastructure Concession Regulatory Commission (ICRC), which regulates public-private partnerships in the West African country, had incorrectly mentioned the launch date as June 2023.

As reported previously, Nigeria Air is to be a public-private partnership with the federal government to maintain 5% stake, while 49% would be held by strategic equity partners and 46% by Nigerian entrepreneurs.

The RFP published on March 7 detailed that the 49% shareholder would be a private sector consortium including an international airline, while the 46% shareholders would be Nigerian financial and institutional investors, resulting in total Nigerian shareholding to comprise at least 51% of the shares of Nigeria Air (including the 5% Federal Government of Nigeria share), as required by Nigerian law. All responses to the RFP must be submitted before 15:00L (14:00Z) on May 10, 2022.

Speaking at a news conference last week, Aviation Minister Hadi Sirika said an interim board of nine people would take over the running of the airline between now and July. “Currently, they are called interim because they will hold the airline on an interim basis up to the time the investors will come and take over.” Tianaero Nigeria confirmed: “The AOC application is running. The executive team (nominated persons and accountable[officers]) are in full gear. We expect the AOC approval in June 2022.”

Sirika said Nigeria Air would be based at Lagos and Abuja and may open another base at Port Harcourt and other parts of the country if needed.

First proposed in 2018, Nigeria’s Federal Executive Council (FEC) in November 2021 greenlighted the commencement of the process to establish the airline. At the time, Sirika had proposed April 2022 as a feasible timeline.

Sirika added the concession of four major international airport terminals would be completed in the second quarter of 2022.