Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

AMCON demands Arik conversion to National Carrier 

Abiola Odutola by Abiola Odutola
October 29, 2019
in Business News, Company News
AMCON

Ahmed Kuru, Managing Director/CEO, Asset Management Corporation of Nigeria (AMCON).

Share on FacebookShare on TwitterShare on Linkedin

The Asset Management Corporation of Nigeria (AMCON) has called on the Federal Government to convert Arik Airline to a national carrier to boost business opportunities in the nation’s aviation sector.  

Managing Director, AMCON, Ahmed Kuru, explained in a statement obtained from Nairametrics that if his request is considered and approved, it would play a critical role in the development of the nation’s economy. 

He said, “I call on the 9th National Assembly to reform the aviation sector, which would help local airline grow and attract many other investors that are eying Nigeria’s huge aviation business opportunity. 

RelatedPosts

Aeroland Travels CEO says AMCON did not confisticate firm’s properties

Court gives Adamawa govt one month ultimatum to pay back N84 million debt owed AMCON

“I recalled how respite came the way of Arik Airlines, which was immersed in a heavy financial debt burden that threatened to permanently ground the airline when AMCON took over and restructured the operations of the airline.  

“With the right support and investment, Arik has all it takes to become a massive airline given the volume of reformative and transformational work AMCON did upon intervention in 2017. But to do that, the National Assembly owes it a duty to reform the aviation sector by reducing the different layers of charges by different agencies, which makes it extremely difficult for airline to survive in the country. 

News continues after this ad


“Arik has enough aircraft and facilities that can be used to set up a new airline. Even if the government wants to set up a national carrier to service just the domestic market, which currently has a lot of gap, it is possible with what Arik currently has. Today if you want to travel to Lagos from Abuja and you did not book your ticket two or three days earlier, the chances are that you may not get a seat, which tells us that there is a serious gap.” 

Kuru added that he expected the National Assembly to help the aviation industry and asked why is it that there is no airline in Nigeria that has successfully existed for 10 years? According to him, the nation has successful businessmen in Nigeria, which tell means that what is happening in the aviation sector is a structural problem that needs to be addressed.  

[READ ALSO: Mobil targets bigger share of aviation fuel market]

News continues after this ad


“Aviation in Nigeria is a business that lacks good corporate governance. It is usually a one-man show kind of business and that sort of business structure has all sorts of management challenges. But having said that, the current state of the sector is not helping the operators, for instance, the fees and charges they pay to different agencies regulators are too high,” he added.  

 

Related

Tags: Ahmed KuruArik AirlinesAsset Management Corporation of Nigeria (AMCON)

Comments 1

  1. Anonymous says:
    October 30, 2019 at 5:19 pm

    Arik as National Carrier???

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Nigeria must end criminality called ‘oil subsidy’- Peter Obi
    • Crude theft: NLNG denies involvement in $1.2 billion illegal oil and gas exports
    • Nigeria losing N3.5 trillion annually to post-harvest losses

    Follow us on social media:

    Recent News

    Groups stage one-million-man-march for Peter Obi across Nigeria

    Nigeria must end criminality called ‘oil subsidy’- Peter Obi

    August 12, 2022
    crude oil theft

    Crude theft: NLNG denies involvement in $1.2 billion illegal oil and gas exports

    August 12, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com