Lagos — Nigeria’s new national airline will require initial capital of $150m-$300m and the government is seeking a strategic partner to operate the carrier, the government stated in a document seen by Reuters. The country’s previous national carrier, Nigeria Airways, was wholly owned by the government. It ceased to operate in 2003. Minister of State for Aviation Hadi Sirika, said on Wednesday the government would not own more than 5% of the new carrier, called Nigeria Air. He made the comments while providing details of the airline at the Farnborough Airshow in England. The government plans to launch the airline in December, making good on President Muhammadu Buhari’s election campaign promise. Neglect and lack of investment have left Nigeria with low-quality infrastructure seen as a hurdle to prosperity. The government has said upgrading it will require private investment. "The initial capital is likely to be in the range of $150[m] to $300m, invested in tranches over time from sta...

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