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Arik Air Passengers Stranded at Abuja Airport

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  • Arik Air Passengers Stranded at Abuja Airport

Hundreds of Arik Air passengers were left stranded at the Nnamdi Azikiwe International Airport, Abuja on Wednesday.

It was learnt that the airline had operational hitches, which resulted in flight delays on different routes out of Abuja that lasted for several hours, as about four of its aircraft were on ground at the NAIA tarmac.

It was further gathered that angry passengers on the Abuja-Owerri and Abuja-Benin routes were fed with biscuits and soft drinks by the carrier in a bid to calm tempers.

“This is past 4pm and people have been here since morning, waiting to board, but no way. The annoying thing is that some of the airline’s members of staff find it hard to explain why our flights are being delayed this much. This is horrible,” said an intending traveller on one of the delayed Arik flights, who simply identified himself as Austin.

Another passenger stated that two persons were arrested after they had misunderstandings with officials of Arik, but the airline was quick to refute this claim, arguing that no one was arrested at its terminal in Abuja on Wednesday.

A source at the Federal Airports Authority of Nigeria told our correspondent that hundreds of passengers of Arik Air were stranded at the airport as their flights were delayed for several hours.

He stated that the airline’s first flight from Lagos landed at the Abuja airport around 4pm, whereas several flights of other domestic carriers were shuttling in and out of the NAIA without hitches.

The official stated that Arik Air was denied aviation fuel, otherwise known as JetA1, by marketers because the airline was allegedly not paying for the commodity.

“This is some minutes after 4pm and the first Arik Air flight from Lagos just landed here some minutes ago,” the FAAN official, who spoke on condition of anonymity, said.

When asked what led to such operational lapses, the official replied, “About four of their aircraft are on ground and this is because marketers are not giving them fuel. The fuel marketers complain that the airline doesn’t pay for fuel. But the airline has been providing soft drinks and biscuits for its passengers since morning as they wait for their flights.

“Some of the passengers include those from Abuja to Owerri and from here to Benin. There has not been any flight for them and one of Arik’s flights to Lagos is boarding right now. This is after it has kept the passengers on ground at the airport since morning.”

When contacted, Arik Air’s spokesperson, Mr. Banji Ola, said there was no protest at the airline’s counter at the Abuja airport on Wednesday, adding that no one was arrested either.

He said, “It is not true. I have just called Abuja and was told that there was no protest at our counter; no flight was cancelled and nobody was arrested. I’m not aware of any cancellation and it is not true that anyone was arrested and there was no protest.”

He, however, did not refute complaints of flight delays by the airline at the Abuja airport on Wednesday.

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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Guinness Nigeria Postpones Spirits Importation Exit, Extends Deal with Diageo

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Guinness - Investors King

Guinness Nigeria Plc has announced a delay in its plan to halt the importation of spirits as it extended its agreement with multinational alcoholic beverage company Diageo until 2025.

The decision, communicated through a corporate notice filed with the Nigerian Exchange Limited on Tuesday, cited a longer-than-expected transition period for separating its business from Diageo’s.

Initially slated for discontinuation in April 2024, the importation of premium spirits like Johnnie Walker, Singleton, Baileys, and others under the 2016 sale and distribution agreement with Diageo will now continue for an additional year.

The extension comes as the process of business separation between Guinness Nigeria, a subsidiary of Diageo, and Diageo itself faces unexpected delays.

In October, Guinness Nigeria had announced plans to cease importing spirits from Diageo, a move aimed at reducing its foreign exchange requirements.

However, the separation process has encountered unforeseen hurdles, necessitating the extension of the importation agreement.

The notice, signed by the company’s Legal Director/Company Secretary, Abidemi Ademola, highlighted the ongoing efforts by Guinness Nigeria and Diageo to implement the separation, originally scheduled for completion by April 2024.

The extension underscores the complexity of disentangling the businesses and ensuring a smooth transition.

Guinness Nigeria reaffirmed its commitment to the long-term growth strategy, aligning with Diageo’s decision to establish a new, wholly-owned spirits-focused business.

Despite the delay, both companies remain dedicated to managing the importation and distribution of international premium spirits in West and Central Africa, with Nigeria as a key hub.

The postponement comes amid challenges faced by Guinness Nigeria, including significant exchange rate losses, which amounted to N49 billion in the 2023 half-year operations.

Despite these setbacks, the company remains optimistic about its future prospects in the Nigerian market.

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Private Sector Warns: Interest Rate Hike to Trigger Job Cuts and Inflation Surge

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As the Central Bank of Nigeria (CBN) announced a hike in the Monetary Policy Rate (MPR) from 22.75% to 24.75%, concerns have been raised by the private sector regarding the potential ramifications on job stability and inflationary pressures.

The move, aimed at curbing inflation and stabilizing the exchange rate, has prompted apprehension among business operators who fear adverse effects on the economy.

Representatives from the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Nigerian Association of Small Scale Industrialists have voiced their worries over the increased difficulty in accessing affordable credit.

They argue that the higher interest rates will impede the private sector’s ability to borrow funds for expansion and operational activities.

This, they fear, could lead to a reduction in business investments and subsequently result in widespread job cuts across various sectors.

The Lagos Chamber of Commerce and Industry (LCCI) acknowledged the necessity of the interest rate hike but emphasized the potential negative consequences it may bring.

While describing it as a “price businesses would have to pay,” the LCCI highlighted the current fragility of the economy, exacerbated by various policy missteps.

They cautioned that the increased cost of borrowing could stifle entrepreneurial activities and discourage expansion plans critical for economic growth and job creation.

Experts have echoed these concerns, warning that the tightening monetary conditions could exacerbate inflationary pressures and hinder economic recovery efforts.

With inflation already soaring at 31.70%, the rate hike could further fuel price hikes, especially in essential goods and services, thus eroding the purchasing power of consumers.

However, CBN Governor Yemi Cardoso defended the decision, citing the imperative to address current inflationary pressures and ensure sustained exchange rate stability.

He emphasized the need to restore the purchasing power of ordinary Nigerians and expressed confidence that the economy would stabilize by the end of the year.

Despite assurances from the CBN, stakeholders remain cautious, calling for a more nuanced approach that balances the need for price stability with the imperative of fostering economic growth and job creation.

As businesses brace for the impact of the interest rate hike, all eyes are on the evolving economic landscape and the measures taken to mitigate its effects on livelihoods and inflation.

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Breaking Barriers: Transcorp Hotels CEO Shares Journey from Crisis to Success

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Dupe Olusola

Dupe Olusola, the Managing Director/CEO of Transcorp Hotels Plc, reflects on her remarkable journey from navigating the depths of a global pandemic to achieving unprecedented success in the hospitality industry.

Appointed in March 2020, amidst the onset of the COVID-19 pandemic, Olusola found herself at the helm of a company grappling with the severe economic fallout and operational challenges inflicted by the crisis.

Faced with a drop in occupancy rates from 70% to a mere 5%, Olusola and her team were confronted with the daunting task of steering Transcorp Hotels through uncharted waters.

Undeterred by the adversity, they embarked on a journey of transformation, leveraging creativity and resilience to navigate the turbulent landscape.

Implementing innovative strategies such as introducing drive-through cinemas, setting up on-site COVID-19 testing facilities, and enhancing take-away services, Transcorp Hotels adapted to meet the evolving needs of its guests and ensure continuity amidst the crisis.

Embracing disruption as a catalyst for growth, Olusola fostered a culture of collaboration and teamwork, rallying her colleagues to overcome obstacles and embrace change.

Through unwavering determination and a commitment to excellence, Transcorp Hotels emerged from the pandemic stronger than ever, breaking profit and revenue records year after year.

“It’s indeed been a great opportunity to learn and relearn, to lead and to grow. When you see success stories, remember it’s a journey with twists, turns, ups and downs but in the end, it will all be okay”, she said.

Olusola’s leadership exemplifies the power of adaptability and perseverance, inspiring her team to transcend limitations and chart a course towards unprecedented success.

As Transcorp Hotels continues to flourish under her stewardship, Olusola remains steadfast in her dedication to driving innovation, fostering growth, and breaking barriers in the hospitality industry.

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