₦airaland Forum

Liftedhands:
OK she didn't... Did she stop it? Or reject the donations? Didn't think so.

@AZeD1

gidgiddy:
The constitution does not recognise Ghana either but I have a Ghanain neigbour called Evans who is a Nigerian citizen because he was born here in Enugu.

gidgiddy:
The simple question is this, how can you take away citizenship from someone that the constitution has given it to? You think citizenship is something you just get up and it's gone?

If Nigeria revoked citizenship by birth and parentage, how will a Yoruba or Hausa man prove they are Nigerian citizens? They can't. That why any Biafran will still hold Nigerian citizenship unless that law is changed

resurgent2019:
Sod off, terrorist....

Minjim:
https://www.newsbytesapp.com/timeline/Entertainment/27328/122908/people-are-now-donating-money-to-kylie-jenner

resurgent2019:
So what about these nations? If not for their liberal views towards the west—except Saudi Arabia, will they be progressive

Islam is incompatible with western civilization. It is very simple. I wont argue with an islamist any further.

Liftedhands:
I read Kylie Jenner was asking her followers to donate money for her just so she can be the youngest billionaire. And the donations are coming in...

This preacher has asked her followers to Donate too.

The two women just made a request it's left for the followers to comply or not, none of them is using force.


Let God do the judging.

resurgent2019:
And she will keep sinking on the world stage. You do not allow your country be filled with islamists and still progress. Lets see how the U.K. fares after March, 2019. You leftists have destroyed the U.K.

Kemosolar:
You are wrong....
I dont know the bible you are reading. I have no doubt you are not a christian. You wrote that people should shun her for encouraging people t give to kingdom cause. Did she forced anybody or used knife or gun at gunpoint to force them. Did you see where it was written that the money would go to her own ministry? The money was not for her ministry but for God's work in the UK.
Christians dont shun themselves, we are encourage to stand by ourselves in time like this.

I dont care if they ban her from entering the UK, but I know they cant ban her from entering God's kingdom.

Pls grow up and become a christian.

donstan18:
This is not just about celebrities, but to others ladies aswell.

I find it hard to believe that a lady with good attitude and manners will stay till 30 going to 40 without any man to call a husband. We sure know the rate in which an average Nigerian lady gets admirers and toasters by men, what then is stopping these men from marrying them.

The bitter truth is that unmarried ladies in their 30s are synonymous to bad attitude, they should work on themselves, you can only change your ways when you accept your flaws. It sounds funny when they claim career when 90% of the most successful ladies are married and living happily with their kids and husband.

If they don't work on their attitude and manners, if they don't face reality, they'll end up with regrets. That's the truth.

Phagyrhe:
Hmm...

osagie12345:
Good day senior elders.

I am new here. just wanted to ask if it's okay to drop out of school and come to Canada to work and later go back to school there. Note I'm in 300level with a second class lower 2:2.

BigIyanga:
Most importantly, how come they have not given any names of potential aviation operators with proven track record? Why are conpanies like ethiopia,kenya, Maros, SAA, gulf airlines not interested?
How farcab $300m go when a new 747 passenger jet is around $400m?

PassingShot:
Stop mixing issues up. The govt stake will still be 5% at the end of the day. Yes, it will provide the initial capital 1005 ($300m) which will gradually be released to investors. Does this validate the position of that hate-filled Chike-Obi that $300m represent 5% of the initial capital when IN FACT the $300m is the total initial required capital?

I am tired of repeating the same message please.

PassingShot:
Your failure to answer my initial question means you know I was right.

Now answer it this time: Was the claim by Mustafa Chike-Obi that $300m represent 5% of the required capital correct?

If yes, explain. If no, which is, then my clarification was in order. Even if the FG pays the initial $300m capital, it is not 5% but 100% of the initial capital.

The federal government of Nigeria (FGN) will assist in start-up and capitalization, and facilitate the process for opening up the capital of the airline to private sector financial investors. The FGN will not be involved in management decisions and control of the airline

PassingShot:
Because it’s a PPP, it has three stages – the project development stage, procurement stage and implementation stage. The project development stage was just concluded with the approval of the Outline Business Case, which the ICRC issued a certificate of compliance. Once the process gets to the PPP procurement stage, there will be an RFQ, Information Memorandum and RFP bidding process which will be made public, competitive and transparent. It is only after the PPP procurement process that the strategic equity investor will be known. At that stage the JV partners will be government and the strategic equity partner. Government’s equity share held in trust for Nigerians will be devolved to Nigerians via an IPO. The government will retain only 5% equity, the list of shareholders then will be available to SEC and the Nigerian Stock Exchange. At that point Nigeria Air Ltd becomes a public company subject to SEC, NSE and relevant CAMA rules for public companies. All PPP procurement and ownership moves will be made public. Signed up acceptance and approval of the management concession agreement will be a condition precedent for the IPO.”

He clarified that government is not entirely funding the airline.

His words “The Government is not funding the entire project. It’s just providing startup capital in the form of an Upfront Grant/Viability Gap Funding. Once the strategic equity investor is in place, they will be expected to build on the initial investment made.

$8m represents startup capital for offices required for takeoff. But $300m is the entire airline cash flow funding requirements (aircraft, operations and working capital) for three years (2018, 2019 and 2020).

“This funding can be in the form of equity or debt. The financial model estimates cash flow requirements as follows 2018 ($55m – $8 million is included here), 2019 ($100m) and 2020 ($145m). In order to ensure take of the airline in 2018 government will provide US $55 Million upfront grant/viability gap funding to finance startup capital and pay commitment fees for aircraft to be leased for initial operations and deposit for new aircrafts whose delivery will begin in 2021.




Please take your time to read and understand the above, especially the emboldened.

PassingShot:
But the government will eventually release 95% as time passes by.

And the $300m is not 5% of the initial capital as claimed by Mustafa Chike-Obi. Wasn't that the misrepresentation I set out to correct?

PassingShot:
This is in line with my explanation. Thanks.

LaudableXX:
They sell the companies' debt. How many companies has AMCON sold so far?

LaudableXX:
Oga did you actually read the article, before posting it? The assets that AMCON owns are the loans that those companies incurred. By virtue of its enabling laws, AMCON cannot just buy shares in a company - it buys up bad loans on behalf of banks and creditors, then tries to turn such companies around, to ensure the creditors get paid.

Please read the main crux of the article you quoted:

LaudableXX:
Aero and Arik is NOT owned by govt. Government did not buy any of their shares, neither did it invalidate the existing ownership structure of those airlines. The govt agency AMCON is merely managing them, in order to turn their operations around and ensure their creditors get paid. How much shares does federal govt own in both airlines? Nothing! Once their debts are sorted, the owners will take over daily management of their airlines' operations again.

Iamgrey5:
What difference does it make sir? they still have to acquire new fleets for international destinations anyways!

And what makes you think they don't intend to merge both airlines together to create a local section of the national carrier ?

Iamgrey5:
i don't think the government intends to use them for local routes.

So I believe they are focusing on international routes to compete with other African carries reaping off Nigerian customers.

I believe we have more travelers than those African carriers. I also believe management problems are one the main issues bothering those other national carriers, hence the Nigerian government will be transferring majority of the management of the new national carrier into private hands.

Phagyrhe:
I totally understand your point bro, however, let's not forget that private airlines flourish even in countries where there is a national carrier too.

Thankfully, you admit that Ethiopian Airways is the only government owned airline making profit in Africa, and not just some profit, huge profits. And the fact that Kenya Airways made six months profit says it all. The fact that Ethiopian Airline can do it should also motivate and drive us towards having a successful national carrier too.

Iamgrey5:
First of all, Nigeria has more air travelers than Kenya or Ethiopia. Yet, both of these countries have successful carriers, and frankly most of their carriers rely a lot on the customers they get from Nigeria

Secondly, if you have looked up air travel options on any booking agency of recent, particularly to African and middle eastern destinations, you will realize that majority of the flights leaving Nigeria are dominated by African carriers that also employ nearly 90% of the workforce from their own home countries. Thus, a national air carrier should create a lot of employment opportunities for Nigerians.


Thirdly, it will generate a lot of revenue for the government on the long run, directly (as share holders) or indirectly (through taxes)

Phagyrhe:

Ethiopian Airways is the most profit making African airline.

https://www.google.com.ng/amp/s/www.thisdaylive.com/index.php/2017/08/18/ethiopian-airlines-targets-10bn-revenue-146-destinations-by-2025/amp/

Kenya Airways

https://www.reuters.com/article/kenya-airways-results/kenya-airways-posts-8-88-mln-operating-profit-for-apr-sept-idUSL9N1BX00M

https://www.kenyans.co.ke/news/28012-kenya-airways-2017-financial-report-records-ksh13-billion-operational-profit

Although Air Namibia and RwandAir are recording loses, other are doing great jobs and that should be a sort of motivation that we can set up a great airline too.

APL33:
Yes. It's a "look at an opportunity" situation. Nigeria start the process. Nd then investors see a need to pour their money.

Phagyrhe:
We are here to learn bro.

Can you please provide one or two examples of those national carriers?