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Nairaland Forum / Nairaland / General / Politics / Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous (27891 Views)
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Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 7:37am On Jul 23, 2018 |
BigIyanga:Bro Do you know me form somewhere before jumping into conclusion about my travel history? I have been to Kenya airport in Nairobi, I have been to OR tambo in Jo'burg, I have been to King shaka in Durban, I have been to mutlritala in Lagos and Azikwe in Abuja. So are you telling me that Most foreign airlines also fly to South Africa and north Africa to pick up Nigerian passengers leaving Nigeria right ? I have boarded both Kenya and South African airways more than once. I boarded them in Nigeria I don't write shit without the knowledge of what I am writing. Nigeria has one of the largest passengers flying anywhere in Africa. Do you have any idea of Nigerians leaving this country everyday at all? I bet a trip to the airport will clear things up for you Airport infrastructure doesn't really matter in this context because Muri in Lagos and zik in Abuja remains the only airports majority of the Nigerians leaving the country have to pass through. If you are bright enough, you will have googled the busiest airports in Africa before spewing this nonsense. 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by abiodun2018(m): 11:25am On Jul 23, 2018 |
Phagyrhe: |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Nobody: 12:35pm On Jul 23, 2018 |
Phagyrhe: 300 million dollars can build 37 gas turbines in every Nigerian state, each of them generating 5MW of electricity n the FG will dedicate it as an industrial layout with 100% electricity supply day in day out. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Aquariann: 2:31pm On Jul 23, 2018 |
PassingShot: Hello Passingshot. Please I've got some questions I'll like your take on if you don't mind. Sent you a PM |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 3:36pm On Jul 23, 2018 |
Aquariann:Ok. Will reply it shortly. Apologies for the delay. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Mikeross62: 3:45pm On Jul 23, 2018 |
contradictory |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 4:12pm On Jul 23, 2018 |
Aquariann:I've replied "Hi. What's up?" since there was no message other than NL saying you'd like to contact me. You can send the message now though. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Aquariann: 6:59pm On Jul 23, 2018 |
PassingShot: Done. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by BigIyanga: 9:09pm On Jul 23, 2018 |
Iamgrey5:Keep manufacturing non-existing numbers in your mind. I have provided u with the numbers.. what other numbers are you talking about. Naija doesnt have any aviation infrastructure comparable to any of those airports you mentioned. All those countries have some world-class existing infrastructure while Naija has none. Your comparison is not good! |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 9:22pm On Jul 23, 2018 |
BigIyanga:Bro This is a dumb submission that you continue to hammer at, infrastructure have nothing to do with passenger figures, especially when it comes to Nigeria I have already showed you an article about the figures on Nigeria customers yesterday Google is free! Google "Airports with the highest customers in Africa" if you can't find Nigeria airports in the top ten on most list in Africa, I give you the permission to come to insult me |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by BigIyanga: 12:15am On Jul 24, 2018 |
Iamgrey5:You keep exposing your limited knowledge in regard toaviation biz. Naija has only 3.5m intl travelers shared among 30 airlines. BA, KLM, Delta, Emirates, Qatar, Kenya etal loyal customers arent going to switch cos New Naija Airline’s customer service is going to suck. These airlines with better infrastructure and customer service have cornered the market— marrket share. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by sholatech(m): 12:47am On Jul 24, 2018 |
You see what we meant advising you not to imply? And your attack dogs went loose against us. Now, the Federal Ministry has clarified further and any layman will see your strong statement that IT IS ONLY 5% MAX that the FG is obliged to contribute. Let me first show you what is very clear as of today..This first year 2018, Government is releasing/investing $55million. I repeat, $55m is initial investment by Federal Government of Nigeria in 2018. See below please: $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. “The remaining financial injection by government will be determined by the quantum of equity that the strategic equity partner will bring as a result of the PPP competitive bidding process.. Government’s upfront grant/VGF contribution to equity will be funded through either a supplementary budgetary allocation or development financial institutions like AFREXIM bank, AFBD, ISDB etc, who have indicated keen interest in funding the national carrier project because of its bankability and profitability profile.” On how government intends to procure the aircraft, the NCAA official said: ” As you may be aware it’s almost impossible for you to pay for and get a new aircraft immediately because it is not an off the shelf item like indomie noodles. However, as part of discussions with major Aircraft Manufacturers, the Government will pay deposits for brand new aircrafts and the manufacturers will support Nigeria Air in getting very good dry lease aircrafts coming directly from c checks and certified by the original manufacturers. http://thenationonlineng.net/government-clears-air-on-controversies-over-national-carrier/ PassingShot: 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PDPGuy: 6:08am On Jul 24, 2018 |
Arondizuogu: The airline won’t immediately start flying to 81 destinations; but will do so within its first five years. Half of those destinations will be regional/international (long-haul). Moreover, the plan for airline shows that it will operate a fleet of 30 aircraft within its first five years of existence. And Nigeria Air will start its intercontinental flights in the middle of 2019. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 6:33am On Jul 24, 2018 |
sholatech:This is in line with my explanation. Thanks. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 7:07am On Jul 24, 2018 |
BigIyanga:You don't even know to use Google it is 6m loyal customers kee? ![]() You mean all those Nigeria trying to run away from Nigeria are loyal customers ![]() You mean the 90% of Nigerians who probably travel once in a while are loyal customers ![]() I travel at least sometimes and I am not loyal because I am Nigerian and I am price sensitive You think flying is buying biscuits or what? I am sure you have never been to a airport 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 10:56am On Jul 24, 2018 |
PassingShot:No it's not, the Minister says at start up the government will own 100% of the airline. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 11:09am On Jul 24, 2018 |
AZeD1: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? 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 11:11am On Jul 24, 2018 |
PassingShot:Did you read the article? |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 11:19am On Jul 24, 2018 |
AZeD1: 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. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 12:22pm On Jul 24, 2018 |
PassingShot:I have read it very well and it's clear. 1) The first year, the needs $55M and since at that point, is fully government owned who provides the $55M? 2) The plan is issue an IPO in the second year really? Take an airline from start to IPO in a year? The Minister said this because he knows people like you would believe it. We are still waiting for the sale of the Presidential fleet Buhari promised during campaign. In 3 years, this government hasn't been able to sell a couple aircrafts but someone wants me to believe it can take an airline from scratch to IPO in one year. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 12:42pm On Jul 24, 2018 |
AZeD1: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. 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 1:12pm On Jul 24, 2018 |
PassingShot:The Minister said government would own 5% and $300M was needed so yes he was right. The Minister has gone from saying the government would own a max of 5% to owning 100% then divest which has proven all the naysayers right. Below is what was contained in the original launch
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Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 2:02pm On Jul 24, 2018 |
AZeD1: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. 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by BigIyanga: 2:57pm On Jul 24, 2018 |
Iamgrey5:These are numbers for you ! https://www.google.com/amp/s/www.dailytrust.com.ng/amplite/nigeria-air-passenger-traffic-drops-26-in-2017.html 3.57m intl passengers. I know facts are hard for you to accept. As per loyal customers.. KLM/AirFrance/Lufthansa/BA offer cheaper and better flying exprience on EU routes than Naija airline. Turkish, Delta and co offer cheaper and better flying exprience than Naija Airlines on US routes. How can new Airline compete? Still on loyalty, I fly Skmiles airlines.. Kenya, Delta, Klm, AirFrance, because I get the same level of service. New Airline is not going to have such agreement . Ethiopia is part of Star Alliance with United, Lufthansa and co.. you can earn miles and get the same standard of service. On African routes, Kenya, Ethiopia, Air Maroc and SAA with existing infrastructure will swallow this new airline in terms of service delivery and ontime departure. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 2:59pm On Jul 24, 2018 |
PassingShot:There's not hate filled position, only Buhari's supporters think everybody hates them. Chike Obi was right. 1) Did the Minister talk about IPO during the launch? 2) Did he talk about "Nigerians" being the majority shareholder at launch? Rumours of Ethiopian Air or Qatar Air being the majority owner at launch. 3) Why did the minister at launch say the Government would own a max of 5% when the initial plan was for the Government to own 100%? People have called the Minister on his BS and he is trying to back pedal. @Phagyrhe, The launch is not even one week and the Government is changing its story. One would expect any serious person going into a capital intensive business like aviation to have a well thought and laid out plan but not this government. Like I said in my first post, if look like bs, sounds like bs, it is bs. 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by BigIyanga: 3:22pm On Jul 24, 2018 |
AZeD1: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? |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 3:25pm On Jul 24, 2018 |
BigIyanga: There's nobody, this is election campaign. I haven't checked the budget @PassingShot but if the plan was to start the airline this year, with $55M initial capital, was that in this year's budget? |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Wapnetrealmcom: 3:25pm On Jul 24, 2018 |
33 APC Rep members defect to PDP, four to ADC http://wapnetrealm.com/33-apc-rep-members-defect-to-pdp-four-to-adc/ |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 3:26pm On Jul 24, 2018 |
BigIyanga:I have taken the liberty of attaching pictures and multiple sources since you don't know how to use google I also know the facts first hand having been to two other major airports in Africa Please don't embarrass yourself further. How many klm and co fleets operate from Nigeria self You obviously don't know jerk ! https://answersafrica.com/list-of-busiest-airports-in-africa.HTML https://www.africa.com/africas-5-busiest-airports/
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Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Nobody: 4:28pm On Jul 24, 2018 |
AZeD1: Hmm... |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 5:15pm On Jul 24, 2018 |
Phagyrhe: I'd love to hear your opinion on this issue based on the ministers clarification. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by BigIyanga: 5:41pm On Jul 24, 2018 |
Iamgrey5:Your inability to read and analyze statistical data is on full display.. lol. My stats were given by NCAA as the primary source.. pls Google primary source. Also my stats were from 2017- the most current. Your sources are neither credible nor up to date. Your numbers dont differentiate btw intl and domestic passengers. Try harder. 1 Like |
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