Nigerian aviation operators share N5bn of N27bn COVID-19 bailout funds

AMG Logistics

A total of N4, 995,999,999.90 has been disbursed to the aviation industry operators as part of the N5bn COVID-19 palliatives the Federal government agreed to, to cushion the effects of the pandemic on the aviation industry which is one of the worst-hit sectors.

The N5bn released to the industry is part of a larger sum of N27 billion meaning the Ministry is still to account for N22bn which according to previous reports has been earmarked to fast track the establishment of a national carrier first mooted in 2015 during the administration’s first tenure.

According to what is known of the funds disbursed so far, scheduled and non-scheduled airline operators; ground handling companies, National Association of Travel Agencies, Aviation fuel marketers as well as airport car hire services partook from this largesse although there was no specificity of who got what.

The N4, 995,999,999.90 arrived at is after 5% deductions from all airlines indebted to service providers and regulatory agencies to the tune of N203, 999,990.95 making a total of N4, 796, 000,009.04

Scheduled operators were granted N3, 000, 000, 000 with 5% deductions for the Federal Airports Authority of Nigeria (FAAN), Nigeria Airspace Management Agency (NAMA) and Nigeria Civil Aviation Authority (NCAA).

The deductions stand at 50% for FAAN at N75, 000,000.03; NAMA 25% at N37, 500,000.01 and the NCAA also at 25 % for N37, 500,000.01 making a total deduction for scheduled operators at N150, 000,000. 05 bringing the net pay accruable to the scheduled operators at N2, 849,999,999.95.

Non-scheduled operators got a total amount of N1, 000, 000, 000 with a total deduction of N950, 000, 009.10 to aviation agencies including FAAN, NAMA and NCAA getting N 24,999,995.45 at 50% for FAAN. N12, 499, 997.73 at 25% each for both NAMA and the NCAA bringing total deductions for non-scheduled to N49, 999,990.90.

Ground handling companies, Aviation fuel marketers and catering services got N233, 333, 333.33 each.

The National Association of Travel Agencies (NANTA) received a total of N196, 000,000.00 with a N4, 000, 000.00 deductions.

Airport Car Hire Association of Nigeria (ACHAN) received from the ministry, N100, 000,000.00 bringing the total amount to N4, 995,999,999.90

The document however shows that apart from deductions for previous outstanding, aviation agencies  FAAN, NAMA, NCAA got no part of the funds as speculated

Ref: http://portnews.com.ng/nigerian-aviation-operators-share-n5bn-of-n27bn-covid-19-bailout-funds/