IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 May 2010 | Removal date: 25 Jul 2025
Still in force

Bailout (capital injection or equity participation)

The Central Bank of Nigeria (CBN) is providing airlines N300 billion from the new Power and Airline Intervention Fund (PAIF) in order to bail them out. The financial support is part of a bigger fund, worth N500 billion, which originally was solely directed at the power and manufacturing sector.
 
Domestic airline companies can take loans which are to be refinanced over a period of up to 15 years, and according to the PAIF "'...' not exceeding 31stJuly, 2025 and shall be determined by the supporting cash-flow profile."
 
The decision to bail-out the sector is due to the fact that the airline firms are heavily indebted to banks in the country. In 2009, five banks in the country were given a bail-out (see measure no. 0386 under Related Measures).

AFFECTED COUNTRIES

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