The federal government has finalized plans to commit at least N2,296,897,404 billion for the construction of the aircraft assembly plant in Zaria, Kaduna State.
The Minister of Aviation, Hadi Sirika, disclosed the information, Wednesday, after the first meeting of the Federal Executive Council for 2023, chaired by Vice President Yemi Osinbajo.
He revealed that the aircraft assembly contract has been awarded to Magnus Centennial Aircraft and Stimulator from Hungary.
He explained that the project was a promotion of reforms in the aviation sector, noting that the assembly plant will start operating before the current administration expires.
Sirica added that the Board also approved a memorandum of revision and extension of the contract for the purchase and installation of the Instrument Landing System (ILS) at Port Harcourt International Airport, Kano International Airport and Katsina Airport.
“This contract was purchased earlier and was awarded, unfortunately, due to fluctuations in foreign exchange rates. Of course, the time it took for items to cost has increased dramatically. Which is why we went back to the board, and revised it with an additional N546,109,336. 33 with VAT 7.5 percent, an additional nine-month completion period for these airports.”
FEC approves N2.29bn for aircraft assembly plant in Nigeria