Business News
FAAN commences renovation of Enugu Airport
FAAN has finally begun the rehabilitation of the runway at the Akanu Ibiam International Airport, Enugu.

Published
2 years agoon

The Federal Airports Authority of Nigeria (FAAN) has finally begun the rehabilitation of the runway at the Akanu Ibiam International Airport, Enugu.
The commencement was disclosed by Henrietta Yakubu, the General Manager, Corporate Affairs of Federal Airports Authority of Nigeria.
[READ MORE: 2020 Anambra Budget: N6 billion proposed for cargo airport construction]
Yakubu made it known that the work had begun ahead of the December 2019 deadline set for the completion of the runway repairs and other renovation works which the Minister of Aviation, Hadi Sirika had earlier disclosed.
Recall that Nairametrics reported when FAAN announced the closure of the airport on August 24, 2019, until further notice. Several circumstances had led to the planned closure which was first hinted in May this year. The closure was said to have affected Ethiopian Airlines and Air Peace.
The announcement of the closure was no surprise as it came more than two months after Sirika, in May 2019, addressed the problems surrounding the Akanu Ibiam International Airport.
Prior to this development, international flights had been diverted to the Port Harcourt International Airport in Rivers by Ethiopian Airlines due to the closure of the airport. In the same vein, domestic flights were diverted to the Sam Mbwkwe Airport, Owerri, the Port Harcourt Airport and the Asaba Airport in Delta.
The Minister of Aviation had scheduled a meeting with South-East Governors assuring them that the Enugu airport would be reconstructed to meet the standard of the Abuja International Airport.
While giving reasons to why the closure was necessary to resolve the existing safety and security concerns to flight operations, Sirika had said, in May that the Airport had a bad runway and landing aids.
[READ ALSO: FAAN closes some sections of Lagos Airport, here is why]
Another issue he noted about the airport was the presence of a market nearby which attracts birds and the constant collision of the birds with aeroplanes. Also, the state radio mast was wrongly placed and was directly facing the runway.
Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]


Corporate Press Releases
P2P crypto marketplace, Bitzlato (BZ) partners with Lemonade Finance to ease money transfers across Africa
The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.
Published
3 mins agoon
April 20, 2021By
NM Press
Bitzlato (BZ), the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless payment platform for Africa, as a payment method to its platform.
Lemonade Finance provides 100% digital payment experience for Africans to seamlessly participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.
The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.
Users in Nigeria will now be able to send Nigerian Naira (NGN) to MPESA at 0% transaction fee.
Speaking about this partnership, Ridwan Olarere, CEO, Lemonade Finance, said:
“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, Uk and Europe.”
Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:
“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrencies trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure and reliable transfers going forward.”
According to BZ, during the first month, BZ will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period.
Following this partnership, BZ is now looking to partner with merchants in the crypto space especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.
Take advantage of the new Lemonade Finance payment method on BZ, which offers zero transactional fees for money transfers from Nigeria into Kenya. Sign up on BZ and start trading crypto easily today.
Business News
Senate calls for the liberalization of cement policy to crash the price of the commodity
The Senate also tasked the FG on providing more industrial incentives to bring new players into the cement industry.
Published
1 hour agoon
April 20, 2021
The Nigerian Senate has called for the liberalization of Nigeria’s cement policy to boost production and subsequently crash the price of the commodity in the country.
This motion was raised by Senator Lola Ashiru at today’s senate plenary, the senator also tasked the Federal Government on providing more industrial incentives to bring new players into the cement industry, in addition to the liberalization of the cement policy in Nigeria.
Ashiru explained that to reduce the price of cement and in extension, other building materials in the country, the Federal Government needs to provide an enabling operating environment that will encourage new entrants in the country.
The Senate in conclusion called on the FG to provide more industrial incentives and protections such as concessionary loans and larger tax incentives to encourage new entrants and expand the national cement production infrastructure, as this boost in production will lead to a downward review of cement price in Nigeria.
What industry leaders are saying
Earlier this year the founder of BUA Group, Abdulsamad Rabiu, called for the liberalization of Nigeria’s cement policy to boost production and reduce the price of the commodity.
The billionaire philanthropist faulted the belief that Nigeria is self-sufficient in terms of cement production, noting that recent statistics and figures on Nigeria’s population and cement production do not support this status of sufficiency in cement production as stated by some individuals.
He attributed the high price of cement products in the country to the supply gap which exists in the country, as the few producers who currently operate in the country are unable able to meet the country’s huge and growing demand.
The Group Executive Director, Strategy, Portfolio Development and Capital Projects, Devakumar Edwin, explained that the demand and consumption of cement in the nation currently outstrips supply, and this can be pegged on the growth in the country’s population, and the strong appetite for real estate investment and construction in the country.
He revealed that a supply gap of about 40% exists in the country’s cement market and that all players in the industry are working hard to level production with the rising demand in the country.
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