• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • 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
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • 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 Aviation

Disregard to rule of law reason Nigeria isn’t investment destination – Babalakin

Charles AyodelebyCharles Ayodele
1 month ago
in Aviation, Business News, Exclusives
Disregard to rule of law reason Nigeria isn’t investment destination – Babalakin
Share on FacebookShare on TwitterShare on Linkedin

Article Summary

  • The Chairman of Resort Group, Dr. Wale Babalakin, said that the Nigerian Government’s willful disregard for the rule of law is one reason why the country is not an investment destination.
  • Babalakin regretted that 16 years after the commencement of operations of the MMA2 terminal, the Federal Government has not complied with the terms and conditions in the agreement.
  • Babalakin warned that if such flagrant disobedience to the rule of law continues, investors would continue to avoid the country.

The Chairman of Resort Group, operators of Murtala Muhammed Airport Two (MMA2) in Lagos, Dr. Wale Babalakin, has said that the willful disregard to the rule of laws by the Nigerian Government is one of the reasons the country is not an investment destination.

Speaking with aviation correspondents at MMA2 over the weekend during the launch of its art gallery, Babalakin regretted that 16 years after the commencement of operations of the terminal, the Federal Government was yet to comply with the terms and conditions in the agreement.

What Wale Babalakin said

Babalakin explained that the General Aviation Terminal (GAT) of the Murtala Muhammed Airport (MMA), Lagos, was still operating in isolation of MMA2 in contravention of the Supreme Court ruling, while its right to operate regional flights from the terminal was still being disallowed.

He warned that if such flagrancy disobedience to the rule of law continued, investors would continue to avoid the country.

What you should know

MMA2 commenced operations on May 7, 2007 with first flight operated out of the terminal by the defunct Chanchangi Airlines.

There have been various legal battles between Babalakin and the Federal Government over the operations of MMA2 and the contract entered into by both parties. Babalakin said:

  • “I am alarmed that we have not commenced the regional operations because we went through the entire process and we were certified, but we have not been allowed to take off. GAT is still operating illegally because based on the judgment of the Supreme court, the GAT is part of our facility.
  • “I hope that those who have power and who have constitutional authority will know that you encourage enterprise when you follow the rule of law and once you follow the rule of law, your country will become an investment destination, but if people are looking at us from afar and saying they can’t come here when simple agreements are not being honoured, it’s not good for anybody in the country.
  • “We are operators and not political people, we will continue to make our case based on law and we believe that our case is insurmountable, truthful and it is only the best for the country.”

He, however, said that the terminal remained the best in the country and vowed that the management would continue to make it convenient for users at all times.

According to him, the terminal and its designs were deliberate effort by its promoter, saying that the car park and the terminal made connection of travellers seamless.

  • “You can also see that we have been very discipline. We have disallowed passengers from operating on our tarmac. We bus them or find a way of transporting them.
  • “We think it is backward to have passengers walk through the terminal. It’s also dangerous. It only takes one accident, then, the country would be embarrassed,” he added.
Tags: Dr. Wale BabalakinMMA2

Leave a Reply Cancel reply

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

hfm
UBA
Mega Millions
Mega Millions
fidelity banner
HFM







NM newsletters

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

Recent News

  • Lafarge Africa appoints Alade-Akinyemi as GMD/CEO as Khaled El-Dokani resigns 
  • Market dips slightly as Union Bank leads decliners on NGX
  • GSK shareholders approve N657.73 million dividend

Follow us on social media:

Recent News

Lafarge Africa appoints Alade-Akinyemi as GMD/CEO as Khaled El-Dokani resigns 

Lafarge Africa appoints Alade-Akinyemi as GMD/CEO as Khaled El-Dokani resigns 

June 7, 2023
Market dips slightly as Union Bank leads decliners on NGX

Market dips slightly as Union Bank leads decliners on NGX

June 7, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

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

© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In