Nigeria is looking for private investors for an aircraft leasing company it plans to float to ease the burden of aircraft acquisition for airlines in the country.

The government said on Monday that the proposed company would lease aircraft from international lessors and then sublease to local airlines.

The business model for the leasing company is expected to follow the same format the government touted for the suspended Nigeria Air.

“Government will not be involved in running it or deciding who runs it. The investors will have full responsibility for this,” aviation minister Hadi Sirika.

The government said it is opened to partner with international lessors and financial institutions. Bidders, it said, have up till May 20 to submit bids.

Nigeria unveiled plans to start a national carrier in July 2018 but suspended the plans in September 2018.

In the 2017 budget, the federal government, allocated the sum of N555 million for the establishment of the national carrier and N200 million for consultancy, while in the 2018 budget, N50 million was allocated for the establishment of the carrier and another N20 million was apportioned for consultancy.