The Infrastructure Concession Regulatory Commission (ICRC) yesterday absolved Ministry of Aviation of secrecy and non – compliance with rules guiding execution of the public – private partnership on the national carrier project.
ICRC, which handles Outline Business Case for the proposed national airline told National Assembly in a memo due processes and approvals were secured.
The commission, which is leading negotiations for the deal, said Ethiopian Airline has 49 per cent; MRS Oil and Gas, 15 per cent; SAHCO, 15 per cent; Federal Government, five per cent while 16 per cent was yet to be allotted.
ICRC memo showed the proposal was turned down five times by Federal Executive Council under Buhari before it was eventually approved the sixth time.
The body said the project was initiated by Ministry of Transportation in 2016 as part of Aviation Sector Roadmap, and approved by the former President.
It was to be implemented as a public-private partnership, for which ICRC’s regulatory guidance was sought. The ICRC provided the required guidance for implementation in line with requirements of ICRC Establishment Act 2005 and National Policy on PPPS.
Constitution of project steering committee and a project delivery team to guide the implementation of the project. Appointment of a Transaction Adviser – this was done in compliance with the Bureau of Public Procurement Act. Lufthansa Technik was first procured but later changed to Airline Management Group/Traniero after obtaining FEC approval. Development and submission of an Outline Business Case by the Airline Management Group in 2018.
