On paper the deal remains unsigned, but not for lack of enthusiasm from the Ethiopian side. The “retired pilot” at the Ministry of Aviation, through his incompetence and short sightedness, has effectively allowed a savvy group of actual aviation experts to write themselves the deal of a lifetime at Nigeria’s expense - the sort of lopsided deal that the world has not witnessed since Dutch colonist Peter Minuit bought Manhattan from the Lenape Indian tribe for less than $1,200 in today’s money.

Which finally brings us to the Optimistic Ethiopian-American investor with a big reputation in corporate consulting and private equity investment, who now shills this half-Nigerian-aviation-Thanos, half-punchline-without-an-Air-Operator-Certificate on Twitter. What was in it for him?

Quite a bit too, as it turns out. The final document I got my hands on shows how much exactly. The investment banking terms offered by Negatu’s Fairfax Africa Fund to the Nigeria Air consortium include some very generous concessions. Here, take a look:

What’s in it for him? Why don’t we use his own numbers to calculate a figure? If this $250m valuation of Nigeria Air that he and Sirika have repeatedly bandied around is accurate, then his proposed fee worth a 1.45 percent share of that figure would come to a nice cash windfall of $3,625,000. To be spread out across 3 annual payments, because he’s nice like that.

Nice work if you can get it.

In addition, Fairfax Partners would also get a guaranteed seat at the table whenever this monopoly airline would have another funding round or an IPO. Maybe it would be a $10 million fee next time? The firm would also get to determine which companies provide services to an airline that was being artificially set up to become Nigeria’s biggest airline from Day 1 via state capture. Why would anyone need first refusal and supplier recommendation rights to a monopoly market operator? Certainly not for potential insider dealing? Or potential insider trading? Or for kickbacks?

Sometimes we have more answers than questions

As for the alleged helicopter pilot who retired from aviation at 39 to go into politics, promptly failing his way up impressively into the aviation ministry, which he left with an iconic image of a water cannon saluting a vinyl-wrapped charter flight with foreign registration, he was last seen fighting a new set of battles.

Knowing Nigeria, he will probably become president someday.

Maybe.

Definitely.

Green Africa Airways And The Man Who Stole An Entire Airline

Like I said, I’ve noticed this “I” statement and trend in you lately which never existed in our relationship for years. Babawande, let me remind you, you did not take the risk alone. We both did.”




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Bring your unwashed yanshes here its a ronu party

It’s amazing how many don't realize the magnitude of what Hadi Sirika just tried to do. That neegha already sold the Nigerian aviation industry to Ethiopia, and was about to takeoff! Wallahi it will never be well with buhari wherever he goes! It takes a hate beyond natural to watch Nigerians suffering & dying in mass, as his appointees bring this once great nation to its economic knees and be cool with it!

olisaEze:

That is Nigeria

Omo..

You really take your time oo..

Kudos Op..

GeneralPula:
Omo..

You really take your time oo..

Kudos Op..

Jah bless

Helinues appear and praise APC