Connect with us

Business News

Nigeria Air’s takeoff date to be announced

Minister says Nigeria Air’s takeoff date would be announced



2019 Budget, Hadi Sirika and Rotimi Amaechi, President Buhari passes 2019 budget, Nigeria Air, Nigeria national carrier, Hadi Siriki, Senate Committee, FG to revive national carrier

The Federal Government would soon announce the takeoff date of its National Carrier project, Nigeria Air. This was made known in a tweet by Federal Airports Authority of Nigeria (FAAN).

FAAN said the Minister of State, Aviation, Hadi Sirika made the disclosure. Sirika reportedly made this known during the visit of the United Arab Emirates Ambassador to Nigeria, Fahad Al Taffaq to his office on Monday.

Recall that in September 2018, the President Muhammadu Buhari-led administration announced the suspension of Nigeria Air indefinitely.

It would be recalled that the national carrier was on Wednesday, July 18 2018, unveiled at Farnborough Air Show in London.

GTBank 728 x 90

It is expected that on December 19, 2018, the airline would commence operation and subsequently grow capacity to 20 aircraft in the next five years, having started with five aircraft.

While receiving the OBC of compliance certificate, Minister of State, Aviation, Sen. Hadi Sirika revealed that the airline would start yielding profits in the first three years of operation.

To get the national carrier project off its feet, a sum of N1.52 billion was in 2015, approved by the Federal Executive Council (FEC), chaired by Vice President Yemi Osinbajo.

Coronation ads

In August, 2015, the Nigerian government setup a 13-member committee to consult with international partners for the establishment of a national airline for Nigeria. In the same year, the committee submitted its report to the Permanent Secretary, Federal Ministry of Aviation, Hajiya Binta Bello.

Nigeria Aviation sector challenges

The country’s aviation sector has experienced several challenges in recent years. In 2016, several airlines shutdown their operations in Nigeria amid economic recession.

In June 30,  United Airlines stopped its operation in Nigeria. This was as a result of weakness in the energy sector and difficulties in collecting money from tickets sold in Nigeria. Similarly, Spanish national carrier, Iberia Airlines withdrew its services from Nigeria in 2016. Sources claimed the decision to withdraw was based on the huge financial difficulties the airlines was facing based on the Central Bank of Nigeria’s forex policy. The policy prevented airlines from repatriating proceeds made in Nigeria back to its parent countries.

Virgin Atlantic Airways was also rumoured to have pulled out of Nigeria after it was alleged that it sacked its cabin crew, a rumour that was subsequently denied.

Jaiz bank ads

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.


PZ Cusson announces retirement of Chairman, Kola Jamodu

PZ has announced the retirement Chief Kola Jamodu as Non-Executive Director and Chairman of the Board of the company.



Kola Jamodu

The Board of Directors of PZ Cussons Nigeria Plc has announced the retirement of Chief Kola Jamodu as Non-Executive Director and Chairman of the Board of the company.

This disclosure was made in a notification signed by the Company’s Secretary, Jacqueline Ezeokwelume, and sent to the floor of the Nigerian Stock Exchange.

According to the notification issued by Mrs. Ezeokwelume, Chief Kola Jamodu will retire as a Non-Executive Director and Chairman of the Board effective 11 December 2020 to enable him to pursue other personal endeavours.

What you should know

Chief Jamodu joined PZ Cussons Group in 1974 and served in Executive positions for 24 years rising to the position of Chief Executive Officer of the Company, a position he held until he retired in 1999.

GTBank 728 x 90

He thereafter continued as a Non-Executive Chairman of the Board until 2001 when he was appointed as the Honourable Minister of Industry of the Federal Republic of Nigeria, a position he held until 2003.

He was reappointed as the Chairman of the Board of PZ Cussons Nigeria Plc in November 2014.

Deal book 300 x 250
Coronation ads
Continue Reading


Abbey Mortgage Bank announces appointment of 6 Directors

The Central Bank of Nigeria has approved the appointment of 6 Directors of Abbey Mortgage Bank.



Abbey Mortgage Bank announce the appointment of substantive Managing Director, and 5 Directors.

Abbey Mortgage Bank has announced the appointment of 6 Directors, including Mr. Madu Hamman as the substantive Managing Director.

The disclosure is contained in a notification, signed by the Bank’s Secretary, Geoff Amaghereon Esq. and sent to the Nigerian Stock Exchange market today, as seen by Nairametrics.

What you should know

Five (5) other Directors were appointed by the CBN – 2 Executive and 3 Non-Executive Directors.

The names and portfolios of the Directors are; Mr. Mobolaji Adewumi – Executive Director; Mr. Oladipupo Ayodele Adeoye – Executive Director; Mr. Nonso Okpala – Non-Executive Director; Professor Marius N. Umego – Non-Executive Director; and Brigadier-General John Obasa (rtd) – Non-Executive Director.

GTBank 728 x 90

The notice also mentioned that all appointments have been approved by the Central Bank of Nigeria.

Continue Reading


Just-in: Diego Armando Maradona is dead

Argentine football star, Diego Armando Maradona is dead.



Argentine football star, Diego Armando Maradona is dead.

This was disclosed by the Premier League via its Twitter handle on Wednesday evening.

It tweeted, “We are deeply saddened to hear of the passing of footballing great, Diego Maradona, an extraordinarily gifted footballer who transcended the sport.

“Our thoughts and sincere condolences to Diego’s family, friends and those who knew him.”

He reportedly died of a heart attack on Wednesday at his home in the outskirts of Buenos Aires.

GTBank 728 x 90

Maradona, 60, had recently battled health issues and underwent emergency surgery for a subdural haematoma several weeks ago.


Coronation ads

Details soon …

Continue Reading