BREAKING: Aviation: Nigeria's national carrier Now Has A New Name

The Nigerian government has unveiled Nigeria Air, a new national airline at the Farnborough International Public Airshow in London.

Nigeria Air is coming almost 15 years after Africa's largest economy shut down Nigerian Airways as a result of corruption and maladministration of the airline.

The Farnborough International Airshow is the industry's largest air show and aerospace technology exhibition in 2018. Thousands of commercial and defence aerospace professionals will come together July 16-22 at this renowned venue outside London.

Hadi Sirika, Nigeria's minister of state for Aviation, revealed the national carrier logo, colour scheme, structure and the type of aeroplane for the airline at the event on Wednesday, July 18, 2018.

Sirika said the government will not own more than 5% of the airline.

Here are things you need to know about the Nigerian Air

1. Nigeria will take about 30 aircraft in the 5 years but will start 3 aeroplanes as the first set.

2. The airline will start operation on December 19, 2018.

3. The airline pre-startup cost is $8.8 million and will cost over $300 million in the next three years.

4. The national carrier will be entirely private sector controlled but the Nigerian government is financing its initial take-off.

5. The airline will have flights on 81 domestic, regional and international routes.