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Passengers Disrupt Arik’s Services at Lagos Airport

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Arik Airplane
  • Passengers Disrupt Arik’s Services at Lagos Airport

Arik Air’s United States and South Africa-bound passengers, who were stranded due to bad weather condition, on Wednesday disrupted the airline’s services at the international wing of the Murtala Muhammed Airport in Lagos.

The airline’s members of staff at a point abandoned their duty posts as the passengers became uncontrollable.

Arik, like other domestic airlines, has been unable to fly its international passengers to their destinations since Tuesday, December 27, thereby creating a backlog.

The development is coming barely a day after the Nigerian Civil Aviation Authority sanctioned the airline for violating passengers’ rights and contravening the provisions of the Nigerian Civil Aviation Regulations.

It was gathered that since Monday, Arik Air had not been able to operate flights to London, New York in the United States and Johannesburg in South Africa.

Passengers lamented that despite the backlog and the inability of the airline’s flights to depart for these destinations, Arik’s officials at the international terminal sold tickets to unsuspecting passengers.

As of Wednesday afternoon, the airline had not airlifted its London-bound passengers, while its Johannesburg passengers were still waiting.

In a reaction, Arik’s spokesperson, Adebanji Ola, said the airline had ferried an aircraft back from the John F. Kennedy Airport to fly its Lagos-New York passengers.

He said that due to the damage to its Boeing A330-200 aircraft by a ground-handling company at the JFK airport a few days ago, the airline had to charter a B767-300ER aircraft from a European charter operator to minimise the disruption and inconvenience to booked passengers on its Lagos-New York service.

He said, “This arrangement was put in place to cover for the period until the return to service of our A330-200 aircraft on December 28, 2016.

“The Lagos-New York flight, which was scheduled to be operated by the charter company and depart Lagos on Tuesday, December 27, 2016 at 11:00am, could not operate due to the closure of the airspace for several hours due to bad weather. Despite the airline’s repeated appeals to the charter operator to operate the next fight, they insisted on positioning their crew and aircraft back to Europe on Wednesday, December 28, 2016.”

He said Arik immediately commenced the ferry back of its A330-200 aircraft from New York to Lagos on Wednesday, and that the aircraft was expected to arrive Lagos today (Thursday).

“Passengers originally booked on Arik Air’s flight W3 107 on Tuesday, December 27, 2016 from Lagos to New York JFK will now be accommodated to travel on Thursday, December 29, 2016 at 06:00am,” Ola added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Aliko Dangote Remains Africa’s Richest Man With $12.1 Billion Net Worth -Forbes

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Aliko Dangote Remains Africa’s Richest Man With $12.1 Billion Net Worth -Forbes

Nigerian industrialist, Aliko Dangote, is Africa’s richest person for the tenth year in a row.

In the Forbes Africa latest billionaires list, Dangote’s total net worth stood at $12.1 billion, a $2 billion increment when compared to last year. Thanks to the 30 percent increase in the price of Dangote Cement share.

Nassef Sawiris of Egypt followed Dangote with $8.5 billion net worth with the majority of his investments coming from construction and other investments.

In third place was Nicky Oppenheimer of South Africa with an $8 billion total net worth.

Mike Adenuga and Abdulsamad Rabio, the two Nigerians, came fifth and sixth with $6.3 billion and $5.5 billion net worth, respectively.Forbes Africa's billionaires list

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Portland Paints, Chemical and Allied Products Plc Agreed to Merge

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Portland Paints

Portland Paints, Chemical and Allied Products Plc Agreed to Merge

Portland Paints and Products Nigeria Plc and Chemical and Allied Products Plc have agreed to merge, according to the latest statement from both companies.

In a statement released through the Nigerian Stock Exchange, the Board of Directors of CAP said we are “pleased to inform you that following discussions and negotiations, the Boards of CAP and Portland Paints have reached an agreement to undertake a merger between both entities (the “Merger” or the “Proposed Merger”).

Accordingly, we “hereby present to you the terms and benefits of the Proposed Merger for your consideration and seek your support and approval to effect the Proposed Merger.

“The Proposed Merger presents a compelling opportunity to create significant value for shareholders of CAP and achieve the company’s strategic growth objectives as a larger company with a broader product portfolio, more corporate owned brands and diversified revenues.

“The resultant entity is also expected to benefit from enhanced distribution capabilities in addition to economies of scale and operational efficiencies.”

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Tony Elumelu Acquires Shell, Total, ENI Stakes in OML 17

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Tony Elumelu Acquires Shell, Total, ENI Stakes in OML 17

Tony Elumelu owned Heir Holdings Limited and its related company Transnational Corporation of Nigeria Plc on Friday announced it has completed the purchase of 45 percent stake in Oil Mining Lease (OML 17) through TNOG Oil and Gas Limited.

The acquisition includes all assets of Shell Petroleum Development Company of Nigeria Limited (30 Percent), Total E&P Nigeria Ltd (10 percent) and ENI (five percent) — in the lease.

It was further stated that TNOG Oil and Gas Limited will also have the sole right to operate OML 17.

The field presently has a production capacity of 27,000 barrels per day. Also, there are estimated 2P reserves (proven and probable) of 1.2 billion barrels and an additional one billion barrels in possible reserves — all of oil equivalent.

A consortium of global and regional banks and investors provided a financing component of $1.1 billion for the largest oil and gas financing in Africa in over a decade.

In a statement released on Friday, Shell said the completion was after all the necessary approvals have were received from authorities.

“A total of $453m was paid at completion with the balance to be paid over an agreed period. SPDC will retain its interest in the Port Harcourt Industrial and Residential Areas, which fall within the lease area,” the SPDC said.

Speaking after the completion of the deal, Elumelu said “We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs. The acquisition of such a high-quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled.

“As a Nigerian, and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria. We see significant benefits from integrating our production, with our ability to power Nigeria, through Transcorp, and deliver value across the energy value chain.

“I would like to thank Shell, Total and ENI, for the professionalism of the process, the Federal Government of Nigeria, the Ministry of Petroleum Resources, and the NNPC for the confidence they have placed in us.”

Tony Elumelu is the Chairman of Heirs Holdings Limited, Transcorp and United Bank for Africa Plc.

Also, read Transcorp Plc Acquires FGN’s 100% Equity in Afam Power for N105 Billion

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