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The source, who wished to remain anonymous because he was not authorised to speak on the matter, said Nigeria’s delay in providing the funds might have sent the wrong signal to investors who began to back down.

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Details have emerged on why the Federal Government suspended plan to establish a national carrier named Nigeria Air.
The Minister of State for Aviation, Hadi Sirika, had on Wednesday announced the indefinite suspension of Nigeria Air without giving reasons.
However, impeccable sources in the Ministry of Aviation told Saturday PUNCH that the Federal Government was not able to provide the $155m which it needed to make available as part of its seed funding.
The source, who wished to remain anonymous because he was not authorised to speak on the matter, said Nigeria’s delay in providing the funds might have sent the wrong signal to investors who began to back down.

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