Aviation Ministry, MOFI Set to Support Domestic Airlines

The Aviation Ministry and the Ministry of Finance Incorporated (MOFI) said they would collaborate to support the growth and expansion of Nigerian airlines by providing financing and investment for them to expand their fleets, enhance their equipment and compete on the global stage.

This was the outcome of a meeting between the Minister of Aviation, Senator Hadi Sirika and the Chief Executive Officer of MOFI, Dr. Armstrong Takang in Abuja on Tuesday. Takang noted that the investment and collaboration would bring about mutual benefits for both MOFI and the Ministry of Aviation. Sirika also said that collaboration between the Aviation Ministry and the Ministry of Finance Incorporated (MOFI) was paramount in the Civil Aviation part of the Nigerian economy.

Sirika made the statement on Tuesday in Abuja, during a courtesy call to the Ministry by the MOFI management for collaboration between the Federal Ministry of Aviation and the organisation. The Minister expressed his excitement that there was a structure for MOFI, and it has fallen into the right hand to get the mandate of the President of the Federal Republic of Nigeria delivered and effected appropriately. He recalled that during the Nation’s Transition Committee period, there was an extensive discussion as to what contribution the aviation sector could make, and it was considered to add up to five per cent to the GDP of Nigeria.

The Minister added that a road map was created for the Civil Aviation industry to create a robust sector that would be financially healthy and which would also make aviation the most preferred means of transportation. Speaking earlier at the meeting, Takang congratulated the Minister on his recent appointment as a member of the MOFI Governing Council. He said the appointment demonstrated Mr. President’s trust in him given his vast experience in driving governance to achieve desirous outcomes, which would be valuable for MOFI in delivering significant value to its key stakeholders and its portfolio companies.
Armstrong recalled that MOFI was used as a Special Purpose Vehicle across the economic sector, focused on holding federal government investments, which it had been using to invest in commercial entities for over 60 years.