A Lagos-based Federal High Court has annulled the sale of a 49% stake in Nigeria Air to Ethiopian Airlines, deeming the transaction null and void. The ruling, delivered by Justice Ambrose Lewis-Allagoa, also halted the federal government’s plans to establish the national carrier.
The court granted relief to the plaintiffs, including the Airline Operators of Nigeria and five other aviation stakeholders, who challenged the sale and selection process. The defendants included Nigeria Air Limited, Ethiopian Airlines, and former government officials.
While the court ruled in favor of the plaintiffs, it did not grant their request for N2 billion in damages. The plaintiffs had sought to nullify the entire bidding process and approval of Ethiopian Airlines, citing exclusion and flawed procedures.
The controversy surrounding Nigeria Air’s ownership arrangement, which gave Ethiopian Airlines a significant stake, had sparked concerns among stakeholders. The federal government’s 5% equity and a consortium of Nigerian investors’ 46% stake were also questioned.
The House of Representatives had asked the government to suspend Nigeria Air’s operations in June 2023, calling it a “fraud.” The project was later suspended indefinitely, with the Minister of Aviation, Festus Keyamo, confirming the suspension in May.
