Image

COVID-19: FG APPROVES N5BN BAILOUT FUNDS FOR AIRLINE OPERATORS, OTHERS

The Federal Government has approved the sum of N5 billion as a bailout fund for airline operators and other business owners in the aviation sector to cushion the effects of COVID-19 on Nigeria's aviation industry.


The Minister of Aviation, Hadi Sirika, disclosed this on Monday, November 2.


The Minister said the sum of N4 billion has been approved as a bailout for airline operators and an additional N1 billion for other business owners in the aviation sector.


Read Also: UPDATE: SOLDIERS ARRESTED FOR FLOGGING LADY OVER ”INDECENT DRESSING”, SHAVING MEN'S HAIR IN IBADAN


Sirika said the Government’s decision to offer the bailout is based on recognition of the important role of the aviation sector to the country's economy.


The Minister made the announcement when he appeared at the Senate for a public hearing in respect of the repeal and the reenactment of the laws establishing the Nigerian Civil Aviation Authority (NCAA), Nigerian Airspace Management Agency (NAMA), Accident Investigation Bureau (AIB), Nigerian College of Aviation Technology (NCAT), Nigerian Meteorological Agency (NIMET) and the Federal Airports Authority of Nigeria (FAAN).


The announcement comes after the Senate Committee on Aviation asked the Federal Government to bail out airlines to cushion the effect of COVID-19.


However, the Chairman of the Senate committee on aviation, Senator Smart Adeyemi said the amount for the proposed bailout is inadequate for airlines who are battling to survive.

Comments


This is Rising!

  • Image

    TROOPS THWART SMUGGLING OF ILLICIT DRUGS, PREMI...

  • Image

    TURNING LOGIC ON ITS HEAD

  • Image

    Nigeria Confirms second Coronavirus case

  • Image

    US ELECTIONS: MEMBERS OF PENNSYLVANIA SENATE WR...

  • Image

    BOKO HARAM ABDUCTS LEADER OF BORNO STATE HUNTER...

  • Image

    BOKO HARAM: INSURGENCY TO BRISK BUSINESS

  • Image

    BREAKING: PIRATES ATTACKS CARGO VESSEL

  • Image

    CAF PRESIDENT TESTS POSITIVE FOR COVID-19

  • Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 159]" alt="Image" />

    Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 169]/details/entertainment-intelligence-71732789101/">
    Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 170]

  • Image

    CBN ORDERS BANKS TO PAY A MINIMUM OF 10% MPR AS...

  • Image

    EFCC ARRESTS 13 CHINESE NATIONALS OVER ALLEGED ...

Join WhatApp Group