PassingShot:

See who is talking? Someone who can't even put together any coherent argument.

Why would I argue with those who have lost every sense of objectivity? NEVER!

Firefire:



Why would I argue with those who have lost every sense of objectivity? NEVER!

See who's talking about objectivity. We know your kind here.

konoplyanka:


See who's talking about objectivity. We know your kind here.

My friend, face front.

PassingShot:
[s][/s]
The plane being planned is &37 and not 777. It costs between $55m and $80m depending on the grade. At launch, just five units will be bought.

Now, swerve since it's obvious you belly-ache about the news.

This is a very good project but the numbers are not adding up. You don't just buy planes, you pre-order from manufacturers, which certainly take more than five months needed to kick-start the whole project by FG.

Even PPP documentation will take more than five months to finalize. I mean Qatar and Ethiopia are interested in the project and so are some British investors. This bureaucratic process will take months. Except the government is not serious with the whole project or it is another campaign strategy.

The $300 million is not enough to buy five units and provide reasonable liquidity to run the project going by your numbers.

Truth234:


This is a very good project but the numbers are not adding up. You don't just buy planes, your pre-order from manufacturers, which certainly take more than five months needed to kick-start the whole project by FG.

Even PPP documentation will take more than five months to finalize. I mean Qatar and Ethiopia are interested in the project and so are some British investors. This bureaucratic process will take months. Except the government is not serious with the whole project or it is another campaign strategy.

The $300 million is not enough to buy five units and provide enough liquidity to run the project going by your numbers.

Of course you know that my saying "bought" doesn't mean buying off the shelf. The ministry is already discussing this seriously with Boeing. By the way, the licence to do the PPP for the national carrier is valid for a year which means even if the December target is missed, it can still be done till around May/June next year.

Fingers crossed.

PassingShot:

Of course you know that my saying "bought" doesn't mean buying off the shelf. The ministry is already discussing this seriously with Boeing. By the way, the licence to do the PPP for the national carrier is valid for a year which means even if the December target is missed, it can still be done till around May/June next year.

Fingers crossed.

The earliest date would be around 2020 if they work really hard. Something I doubt since FG influence will be limited going by the poor stake of 5%, this is another dangerous decision. Fg needs more than 5% to effectively influence operation and control cost for the masses because that should be the essence of a national carrier.

PassingShot:

Na wa o. See reasoning? You go fear fear naa.



Anyway, the airline will boost our economy and provide jobs for thousands of unemployed persons.

That's the minimum it will do for us.

Fantastic ! Same way defunct NEPA and NITEL boosted our economy and provided jobs for thousands of unemployed youths at the expense of the masses for many years. Welcome to the Animal Farm of Chibuike Ameachi and APC !

Truth234:


The earliest date would be around 2020 if they work really hard. Something I doubt since FG influence will be limited going by the poor stake of 5%, this is another dangerous decision. Fg needs more than 5% to effectively influence operation and control cost for the masses because that should be the essence of a national carrier.

You can't claim to know 5% of the workings of the Project. You can't even claim to know 1% of it.

Why not allow those saddled with such responsibilities do their work while we talk when necessary.

Btw, the subject of this thread is to correct the misrepresentation of the hate-filled Chike-Obi or whatever he calls himself.

PassingShot:

Na wa o. See reasoning? You go fear fear naa.



Anyway, the airline will boost our economy and provide jobs for thousands of unemployed persons.

That's the minimum it will do for us.

What thousands of unemployed youths ? Your mumu never do.

[s]

Max24:

What thousands of unemployed youths ? Your mumu never do.

[/s]

Max24:

Fantastic ! Same way defunct NEPA and NITEL boosted our economy and provided jobs for thousands of unemployed youths at the expense of the masses for many years. Welcome to the Animal Farm of Chibuike Ameachi and APC !

So those working in both NEPA & NITEL are from Congo right?

hungryboy:
should a country in which almost 80% of it population can't afford air transportation be investing in an airline?

How many Ethiopians, Kenyans, Rwandan, etc buy air tickets, yet many Nigerians keep something their nationals employed by buying their ticket to different parts of the world.

Will it be a terrible idea to shift some of these jobs and businesses to Nigeria just because Buhari is president?

9jaArea:
This is what patriots do.
Most of the people faulting the unveiled carrier now didn't even make an attempt at it when they were in government.

All of a sudden all Nigerians have turned aviation experts putting up wrong information in the media. The media on its part does more harm than good in this part of the world.

It's a good thing Baba doesn't have time for people like this.

Taking the president's side is not the definition of patriotism.

front page

OP . This is what your link said. See below.

""“The initial capital is likely to be in the range of $US 150 to 300 million, invested in tranches over time from start up through the first years of operation,” a government document stated.

It said the government will provide initial capital but did not state the sum or give further details."""

It said the initial capital is likely to be 150- 300 million USD. It said the govt will provide the initial capital.
I hope you understood it.

OP From another of your link.

""This is just as the airline will receive the first set of 5 airplanes on 19 December 2018.

Read more at: https://www.vanguardngr.com/2018/07/nigeria-air-to-gulp-8-8m-preliminary-cost-300m-as-take-off-cost/"""

5 planes by 19 dec 2018. How much is that? You guys should go back to school and learn.

greenmonk:


Why do people always attack anyone with contrary opinion to yours even the n issues you know nothing about?
If $300m is the total project value what is the cost of a Boeing 777 jet?
Arm chair politicians and economics gurus Kontinu sai baba until we are all buried the shithole we are being led into.

Most airlines in Nigeria do borrow their fleets. It is not necessary we start by buying any aircraft for now.

sholatech:
Still ambiguous. No where in your link did they specify amount of Government investment so we can't imply it's just 5 percent of the $300m..

One of your link even stated the $300m as the Start up cost....not the total equity required for the airline investment.

It is a new business. What you can calculate now is the initial start up cost. If more is needed, the business will raise more money. Even 100 years old businesses still raises new capital all the time.
So for now, total capital the business need is $300m and FG will contribute 5%.

PassingShot:
For clarification sake, the $300M is the total initial capital required for the first three years of the airline and it is only 5% (max.) of this amount ($15m) that the FG is obliged to contribute. It's the private investors that will contribute the remaining balance of $285m.

The above position was clearly reported by Reuters here http://www.africanews.com/2018/07/20/nigeria-air-seeks-strategic-partner-to-invest-300// where it clearly stated “The initial capital is likely to be in the range of $US 150 to 300 million, invested in tranches over time from start up through the first years of operation,” a government document stated.

Thank you for this clarification

Osus like Oby and Chike-Obi are bitter hateful beings.

They hate everything and anything. I am sure they even hate God.

No wonder they bad mouth a lot. Their brains are full of hate and evil wishes.

PFRB:
OP From another of your link.

""This is just as the airline will receive the first set of 5 airplanes on 19 December 2018.

Read more at: https://www.vanguardngr.com/2018/07/nigeria-air-to-gulp-8-8m-preliminary-cost-300m-as-take-off-cost/"""

5 planes by 19 dec 2018. How much is that? You guys should go back to school and learn.

Have you ever heard the word lease? Majority shareholders will be airlines and from what I heard, they will lease their excess planes to Air Nigeria.

There's nothing in the reports or government announcements that suggests they are buying the aircrafts.

They might actually be leasing the aircrafts from well known internationally acclaimed agents to begin with.

Majority of the carriers in Nigeria don't own their aircrafts either


I am just stating the obvious for those making a case that the capital is too small

hungryboy:
we have got a few local airlines who went under due to debt and lack of profitability, and the few still operating aren't profitable enough to withstand competition from a National backed carrier. I bet for every job it creates, in a few years time, the will be as much jobs lost in our aviation sector

Most of these airlines were not being run well. They give free tickets to everyone and management pack any money from the business

hungryboy:
should a country in which almost 80% of it population can't afford air transportation be investing in an airline?

say I can't afford air transport,stop generalizing poo.
Brokie brokie uncle

sholatech:
Still ambiguous. No where in your link did they specify amount of Government investment so we can't imply it's just 5 percent of the $300m..

One of your link even stated the $300m as the Start up cost....not the total equity required for the airline investment.

Sounded like a lot of rambling. How many tranches for instance? No where was 15 million ever mentioned.

Also, why can't these people just reply people politely. Every question is like a confrontation. What has him being a mathematician got to do with anything?

Ovamboland:


How many Ethiopians, Kenyans, Rwandan, etc buy air tickets, yet many Nigerians keep something their nationals employed by buying their ticket to different parts of the world.

Will it be a terrible idea to shift some of these jobs and businesses to Nigeria just because Buhari is president?

Brother the hatred for buhari ehn, I dnt understand o. Yea d president might be slow on some decisions, e might not be perfect but we can see his honest intention to make Nigeria better tht is y there is a systematic approach to fighting him

When I knew it was over corruption tht he was been fought because of corruption WS wen he dropped tht executive order 6.....house of rep who claim dey r fighting corruption were challenging the order...I mean.....

Hmm.
Meanwhile, we are giving our equity in our tech startup https://www.nairaland.com/4609055/invest-own-equity-promising-tech

Hmm.
Meanwhile, we are giving our equity in our tech startup https://www.nairaland.com/4609055/invest-own-equity-promising-tech

PassingShot:

The $300m is the required start-up - that is surely 100% of money required at start-up.

The 2nd fact is that government is investing maximum of 5% in the project. Does it make sense that the govt will pay 100% initial capital and pay 5% of subsequent running capital?

From all you have read, does $300m (which was clearly stated is the initial required capital) represent 5% of initial capital? If it does, then the initial capital will be $6bn.

The information was not given? Now you are saying startup is $300 million but that was never stated.


You cannot rationalize away the ambiguity or where responsibility for the ambiguity lies


Is there any rule of logic that says startup cannot be $6 billion? The information provided and the whole management of the saga is disgraceful. We are almost in August and we are told that this airline will operate in December? Is that a joke?

PassingShot:
I read with great shock the outright lie tweeted by Mustafa Chike-Obi and posted on the FP of Nairaland (https://www.nairaland.com/4631046/mustafa-chike-obi-former-amcom-boss) about the initial capital for the newly unveiled national carrier - Air Nigeria. The claim by the former AMCON Boss that $300m initial capital for the national carrier represents 5% of the initial capital is not only misleading but mischievous and unpatriotic.

For clarification sake, the $300M is the total initial capital required for the first three years of the airline and it is only 5% (max.) of this amount ($15m) that the FG is obliged to contribute. It's the private investors that will contribute the remaining balance of $285m.

The above position was clearly reported by Reuters here http://www.africanews.com/2018/07/20/nigeria-air-seeks-strategic-partner-to-invest-300// where it clearly stated “The initial capital is likely to be in the range of $US 150 to 300 million, invested in tranches over time from start up through the first years of operation,” a government document stated.

It was also clearly reported by Vanguard here https://www.vanguardngr.com/2018/07/nigeria-air-to-gulp-8-8m-preliminary-cost-300m-as-take-off-cost/ . Punch clarifies the 5% stake of the FG in the Project by stating “The Nigerian Government will not own more than 5% (maximum) of the new National Carrier. Government will not be involved in running it or deciding who runs it,” he said http://punchng.com/breaking-nigeria-unveils-name-of-national-carrier-logo/

Now, if the man who prides himself a mathematician is to be correct with his tweet, is he now saying that the initial capital is $6bn? If $300m is 5%, surely the 100% required initial capital required must be $6bn. Chike-Obi needs to tell us where (if it exists anywhere at all) he got his own figure from.


The tweet by the Mustafa, just as that by Oby Ezekwesili should be of great concern to all patriotic citizens of our country who genuinely seek to see Nigeria develop and succeed. Their tweets are a clear indication that many Nigerians do not mind cutting their nose to spite their face! They hate the president so much and if the total failure of the country is the only thing that must happen to justify their hatred for the president, it's all well and good in their own books.

not surprised...