By our reporter| The Federal Government on Monday said it will soon begin the disbursement N5bn bailout it approved for the operators and other business owners in the aviation sector to cushion the effects of COVID-19 on the country’s aviation sector.
The Minister of Aviation, Senator Hadi Sirika, who made the disclosure at the opening of a three-day public hearing on the six executive bills organized by Senate committee on Aviation, said the airliners would get N4bn and others N1bn.
According to Sirika, the government’s decision to offer the bailout is based on recognition of the pivotal role of the aviation sector to the Nigerian economy.
The Chairman of the committee, Senator Smart Adeyemi, had earlier in his remark urged the Federal Government to explore the possibility of providing bail out funds for the Airline Operators.
According to him, the aviation industry was the most affected by the COVID-19 pandemic and “therefore need all the support possible to resuscitate the industry.”
“In the absence of this, so many airlines will struggle to stay in business or worst still, be forced to withdraw their services.
“Bail out funds will discourage operators from cutting corners as the consequences can only be better imagined,” he noted.
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