FEC okays N2.29bn for aircraft assembling plant in Nigeria


 

The Federal Government has concluded plans to commit at least N2,296,897,404 billion to construct aircraft assembly plant in Zaria, Kaduna State.

Minister of Aviation, Hadi Sirika, disclosed the information on Wednesday, after the first Federal Executive Council meeting for 2023, chaired by Vice President Yemi Osinbajo.

He revealed that the contract for the assemblage of aircrafts was awarded to Messrs Magnus Centennial Aircraft and Stimulator from Hungary.

He explained that the project was in furtherance of reforms in the aviation sector, noting that the assembly plant would commence operations before the current administration elapses.

Sirika added that the Council also approved the memorandum for the revise and augmentation of the contract for procurement and installation of Instrument Landing System (ILS) in Port Harcourt International Airport, Kano International Airport, and Katsina Airport.

“This contract was procured earlier and awarded, unfortunately, due to fluctuations in foreign exchange. And of course, the time it took cost of items have increased tremendously. And that’s why we’re back in council, revising it with an additional N546,109,336. 33 with 7.5 percent VAT, an additional completion period for nine months for these airports”.

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