The Nigerian Government has approved a bailout fund of N4 billion to airlines to cushion the adverse effects of the closure of the airspace and economy due to the COVID-19 pandemic.
The Minister of Aviation, Hadi Sirika, made the disclosure on Monday in Abuja at a three-day public hearing to repeal and enact Acts of Nigerian Civil Aviation Authority (NCAA), the Nigerian Airspace Management Agency (NAMA), Accident Investigation Bureau (AIB), Nigerian College of Aviation Technology (NCAT), Nigerian Meteorological Agency (NIMET) and that of the Federal Airports Authority of Nigeria (FAAN).
Sirika also stated that the Federal Government approved an additional N1 billion for aviation agencies to also cushion the impact of the pandemic on their workers.
He disclosed that the bailout would soon be released to the carriers, adding that the government would continue to support the aviation industry to prevent it from failing.
“The aviation sector in Nigeria and elsewhere is very important to economic development of any nation,” the minister added.
The Chairman of S
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