Wednesday , June 26 2019
Breaking News

Nigeria Air was doomed to fail from outset – Stakeholders

Stakeholders in the aviation industry have said the national carrier project recently suspended by the Federal Government was a failure from the outset.

A former Director of Human Resources at the defunct Virgin Nigeria, Victor Banjo, on Thursday said the project lacked the requisite structure for success.

Banjo and other stakeholders spoke at the fourth-quarter quarterly business breakfast meeting of the Aviation Safety Roundtable Initiative in Lagos on the theme, ‘Short life span of Nigerian airlines, the importance of corporate governance’.

He said the proposed national carrier lacked accountability, fairness, transparency and independence.

“From the outset, Nigeria Air was doomed to fail because the four pillars of corporate governance were missing. In terms of transparency, too much was shrouded in secrecy for a project that a huge chunk of taxpayers’ money was about to be committed, and time will tell if it will move from being premature to a stillborn,” he stated.

The Minister of State for Aviation, Hadi Sirika, had in September announced the suspension of the planned national carrier, Nigeria Air, which the Federal Government had said would begin flight operations in December.

Banjo, who is also a former Director General of the Institute of Directors, noted that the national carrier idea was not to launch an airline but might have been for some other purposes not disclosed to the public.

The Director of Studies, Centre for International Advanced and Professional Studies, Prof Anthony Kila, said the Federal Government began the Nigeria Air project without due consultation with stakeholders, adding that failure was guaranteed from the planning stage.

“Nigeria Air was conceived on PowerPoint, shared on Adobe and died on Twitter,” he added.

The President, ARTI, Gbenga Olowo, stated that the announcement of the national carrier shook the industry as it was a vote of no confidence in the existing airlines.

He said the Federal Government should explain to Nigerians if the project had been suspended or not so that stakeholders in the aviation industry could plan better.

– Punch


About Lanre Oyetade

A multiple award winner in Economics and business journalism, Lanre Oyetade has served close to two decades in the media industry, spanning different notable stables, where he is privileged to have risen to the position of a title editor. A masters degree holder in Economics from the University of Lagos and doctoral student at the Babcock University, he is a winner of the prestigious NMMA Capital Market Award for two consecutive years (2004 & 2005), and was also a nominee for the body’s banking and finance and money market awards for two years. In 2013, he also won the Most Outstanding Business-Reporting Title Editor award of the National Institute of Marketing of Nigeria (NIMN). A minister in the LORDS’s vineyard, he has been an inspirational speaker and resource person at many corporate and religious fora since early 2004, and has so far authored three books on the capital market; on personal effectiveness, and on personal finance, in 2008 and 2014, respectively.