The Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed that documents signed by his predecessor, Hadi Sirika, indicated plans for a foreign airline to take over Nigeria Air.
In a widely circulated video, Keyamo highlighted parts of the agreement signed with the Ethiopian government, asserting that the Nigerian government has no regrets about terminating the deal.
He emphasized that Nigeria cannot cede control of its aviation ecosystem to a foreign entity.
“You’ll be shocked by this agreement. It essentially allows a foreign government to take over our national carrier. Ethiopian Airlines was the majority shareholder in the deal. They did the same with Asky in Togo, but we are not Togo—we are a big and ambitious nation,” Keyamo stated.
Festus Keyamo
He explained that if the agreement had proceeded, Ethiopian Airlines would have gained control over Nigeria’s Bilateral Air Service Agreements (BASA) routes, prioritizing their profits over Nigeria’s interests. “A national carrier has first priority on BASA routes. Handing those routes to Ethiopia means all profits would go to Addis Ababa, not Nigeria,” he added.
Keyamo clarified that Nigeria did not lose any foreign direct investment by rejecting the terms. According to him, Ethiopian Airlines planned to use wet-leased aircraft to operate as a national carrier, with profits directed to Ethiopia. Additionally, key management positions, including CEO, financial officer, and director of operations, were reserved for Ethiopians.
He also pointed out alarming clauses in the agreement, including tax exemptions for the airline in Nigeria, no requirement to build local investments, and Nigeria acting as guarantor for any losses incurred by the airline.
“That is not a national carrier,” Keyamo concluded.
