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FG Fires 20 FAAN Directors, Managers

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  • FG Fires 20 FAAN Directors, Managers

About 21 senior officials of the Federal Airports Authority of Nigeria were on Wednesday sacked in a major shake-up.

Those affected, including directors, general managers and deputy general managers, were reportedly handed their termination of appointment letters.

Sources at the head office of FAAN in Lagos told our correspondent that no fewer than 10 general managers were reportedly demoted. They were said to have earlier been improperly promoted.

It was learnt from an official of the Ministry of Aviation that the sacking was the first batch of the shake-up planned by the government to reposition FAAN.

Stakeholders said the Federal Government had been concerned about certain issues at FAAN such as the engagement of about 40 general managers, the creation of many directorates that brought about duplication of duties and raised the authority’s monthly overhead to an estimated N800m.

Sources said the government planned to reduce the number of workers by way of restructuring in order to cushion the effects of the current economic crisis.

Some of the general managers were said not to have the requisite qualifications for the sensitive positions they held, as many of them, including deputy general managers, had reportedly left the university about 10 years ago and could not have qualified for the office they held.

Almost all the directors were said to have been affected, while an acting director of finance was said to have been demoted to Grade Level 10 and redeployed to the Department of Information Communications and Technology.

Many of the affected officers were moved from Grade Levels 17 and 16 down to 10, 12 and 14.

Some of the demoted workers were said to have received their letters, authorising them to report to their superiors, who were their subordinates before the exercise.

Meanwhile, new directors of finance and accounts, as well as commercial and business development, have been appointed.

The Federal Government is also reportedly planning to reduce the number of directorates in the aviation agencies as part of the restructuring exercise.

This, it was learnt, would affect the Nigerian Civil Aviation Authority and the Nigerian Airspace Management Agency.

The restructuring at the airports is said to be the fallout of a panel’s report headed by the Head of Service, Mrs. Winifred Oyo-Ita, which recommended the need for a proper placement in FAAN.

The NAMA may get a new managing director before December as its acting Managing Director, Emmanuel Anasi, is expected to proceed on terminal leave by the end of the year.

Meanwhile, the House of Representatives Committee on Aviation has said it will hold a public hearing with stakeholders to discuss the proposed concession of some airport terminals by the Federal Government.

The Chairman of the committee, Nkeiruka Onyejeocha, stated this in Lagos during the oversight visit by the committee members to the aviation agencies on Wednesday.

He said the public hearing would give stakeholders the opportunity to make their input.

Onyejeocha said, “I do not believe in the concession of the four major airports that we have because I know those four airports are funding the other 18 international airports. And of course, you have to look at the issue of workers and the Nigerian people as a whole.

“We are going to conduct a public hearing where we will take all the issues together; where we will be able to ask Nigerians and of course the key players in the aviation industry, including the workers, and even journalists, to tell us what they think.”

The 18-member delegation said it was in Lagos to see how the sector was faring amid the current economic recession.

Onyejeocha expressed disappointment at the slow pace of work at the new international terminal being constructed by the Chinese Civil Engineering Construction Company.

According to her, with the current pace of work, the project may not be delivered by December as projected.

“We have three other terminals that we are hopeful will be delivered by December; so what it simply means is that Lagos is lagging behind and we will take it seriously,” she said.

The committee also visited the Nigerian Civil Aviation Authority, where the regulatory body was asked to do everything necessary to keep domestic carriers in business.

 

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Goya Foods Takes Legal Action to Assert ‘Goya Olive Oil’ Trademark Ownership

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“Goya Olive Oil” trademark in Nigeria, Goya Foods Incorporated has initiated legal proceedings against the Registrar of Trademarks under the Federal Ministry of Trade and Investment.

The case, numbered FHC/ABJ/CS/883/2023, was brought before the Federal High Court in Abuja.

Goya Foods, a prominent producer and distributor of foods and beverages across the United States, Spanish-speaking countries, and Nigeria, seeks to enforce a longstanding consent judgment issued by the court in December 2006.

The judgment directed the Registrar to rectify the Trademarks Register to reflect Goya Foods Incorporated as the rightful owner of the “Goya Olive Oil” trademark, without any further formalities.

The lawsuit, exclusively revealed to sources, underscores Goya Foods’ determination to safeguard its intellectual property against alleged infringements.

According to court documents, Goya Foods obtained the consent judgment against Chikason Industries Limited, which was accused of marketing “Goya Olive Oil” in Nigeria, thus infringing on Goya Foods’ registered trademark.

Legal counsel for Goya Foods, Ade Adedeji, SAN, emphasized the necessity of rectifying the Trademarks Register to protect their trademark interests effectively.

Despite appeals to the Registrar, the requested rectification has not been implemented, prompting Goya Foods to escalate the matter through legal channels.

The case has been adjourned to September 27, 2024, for further proceedings, highlighting the complexity and significance of trademark disputes in the global marketplace.

Goya Foods remains committed to upholding its brand integrity and securing its proprietary interests amidst the evolving landscape of international trademark law.

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IOCs Accused of Blocking Direct Crude Sales to Dangote Refinery

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Dangote Refinery

Dangote Industries Limited (DIL) has accused International Oil Companies (IOCs) of obstructing direct crude oil sales to its refinery and forcing the company to use costly middlemen.

This development comes after a statement by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) suggested a “willing buyer-willing seller” dynamic was in place as mandated by the Petroleum Industry Act (PIA).

Devakumar Edwin, Vice President of DIL, countered NUPRC CEO Gbenga Komolafe’s claims, stating that IOCs consistently make it difficult for local refiners by pushing sales through international trading arms, which inflate prices and bypass Nigerian laws.

“These middlemen earn unjustified margins on crude produced and consumed within Nigeria,” Edwin stated.

He noted that only one local producer, Sapetro, has sold directly to DIL, while others insist on using trading arms abroad.

Edwin detailed the financial impact, citing instances where DIL was charged a $2-$4 premium per barrel above the official price.

In April, DIL paid $96.23 per barrel for Bonga crude, which included significant premiums, compared to a much lower premium for West Texas Intermediate (WTI) crude.

While acknowledging NUPRC’s support in resolving some supply issues, Edwin urged the regulatory body to revisit pricing policies to ensure fair market practices.

“Market liquidity is essential for fair pricing. We hope NUPRC addresses these issues to prevent price gouging,” he stated.

This dispute highlights ongoing challenges in Nigeria’s oil sector, where domestic refiners struggle to secure local crude amidst complex market dynamics.

The outcome of these negotiations could significantly impact the refinery’s operations and broader industry practices.

The situation underscores the need for transparent and efficient crude supply systems to bolster Nigeria’s refining capacity and economic growth.

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Dangote’s $20 Billion Refinery to Begin Petrol Sales Next Month

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Petrol - Investors King

Aliko Dangote announced on Monday that his long-awaited $20 billion refinery complex will commence petrol sales starting next month.

The announcement came during a press briefing held at the refinery site in Lagos, where Aliko Dangote, Africa’s richest man, detailed the project’s progress and future plans.

“We are proud to announce that the Dangote Refinery will begin selling petrol from August,” Dangote stated confidently.

“This milestone marks the culmination of years of meticulous planning, construction, and overcoming numerous challenges.”

Dangote’s refinery, touted as the largest single-train refinery in the world, is designed to process 650,000 barrels of crude oil per day once fully operational.

The facility aims to not only meet Nigeria’s domestic demand for refined petroleum products but also contribute significantly to export markets across West Africa.

“We have entered the steady-state production phase earlier this year, and now we are ready to begin commercial sales,” Dangote explained. “Initially, we will focus on petrol production, with plans to expand our product range as we ramp up to full capacity.”

The refinery’s launch is expected to alleviate Nigeria’s longstanding dependence on imported refined products, thereby boosting the country’s energy security and reducing foreign exchange outflows associated with fuel imports.

Beyond petrol sales, Dangote revealed ambitious plans to list both the refinery and its associated fertilizer plant on the Nigerian Exchange Group (NGX) by the first quarter of 2025.

This move aims to attract broader investor participation and unlock additional value for shareholders.

“We are committed to transparency and accountability in our operations,” Dangote emphasized. “Listing these subsidiaries on the NGX will not only strengthen our corporate governance framework but also enhance the refinery’s financial sustainability.”

Challenges and Future Prospects

Despite celebrating the imminent commencement of petrol sales, Dangote acknowledged challenges encountered during the project’s execution, including delays in securing land for a petrochemical facility in Ogun State, which incurred substantial costs.

“We faced bureaucratic hurdles that resulted in significant delays and financial losses,” Dangote lamented. “Nevertheless, we remain steadfast in our commitment to advancing Nigeria’s industrial capabilities and contributing to economic growth.”

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