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Osinbajo Inspects Abuja Airport, Says Runway 80% Complete



yemi osinbajo
  • Osinbajo Inspects Abuja Airport, Says Runway 80% Complete

Vice President Yemi Osinbajo on Friday embarked on a thorough inspection of the Nnamdi Azikiwe International Airport, Abuja, which lasted for over one hour.

Osinbajo inspected the runway and taxiways of the airport, its arrival and departure terminal buildings, as well as the fire station.

He was taken round the facility by the Managing Director, Federal Airports Authority of Nigeria, Mr. Saleh Dunoma, and other officials of the Federal Ministry of Transportation.

Osinbajo told journalists that the runway was 80 per cent complete, adding that the airport would be reopened on the scheduled date.

The Abuja airport was shut down to flight operations on March 8 this year and is scheduled to be reopened on April 19.

According to the Federal Government, the closure of the airport for six weeks is to allow Julius Berger Plc to carry out a total rehabilitation of its runway and taxiways.

Workers of the construction firm were seen on site during the inspection of the facility by the Vice President.

However, the Minister of Transportation, Rotimi Amaechi; and the Minister of State for Aviation, Senator Hadi Sirika, were not present during the inspection by Osinbajo on Friday

While addressing reporters after touring the facilities, Osinbajo said, “I have looked round and from what I have seen and also from the information from the contractors and consultants, it looks as if things are going very well. We are told that we are now nearing 80 per cent completion and that we are clearly on schedule.

“So, we expect to see that this will be completed well on schedule and I don’t think we should expect any delay whatsoever, because we have assurances from the consultants and contractors that we are clearly on schedule. So, by the 19th of April, this runway should be set.

“I have no reservations and looking at all of this myself and inspecting it and listening to the contractors, consultants and personnel of FAAN and the Ministry of Transportation, I think a lot of work has gone in here for the contractors do 24 hours shift, working round the clock and they have taken the job very seriously.”

Dunoma told journalists that other facilities at the airport were at various stages of completion, adding that the terminal buildings at the NAIA were also being rehabilitated.

The FAAN boss stated, “The total overall completion of the work is 80 per cent as of today. The other critical elements of the work that we have include asphalt laying, which is about 73 per cent, and air field lighting re-installation is about 40 per cent.

“The next critical item is marking, which will start on Monday, but it is not a critical element per say and, of course, general cleaning because at the end of the day, our regulator will have to come and certify what we have done and then we will be ready for opening on the 19th.

“We are seizing this opportunity of empty building to make sure that we rehabilitate the entire terminal buildings and that include all the facilities that are there, mechanical, electrical and civil.”

When asked if the terminals would be ready by April 19 when the airport would be reopened for flight services, he replied, “That’s the plan. All the works that are going on there will be completed by the 19th.”

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


President Buhari Commissions 5,000bpd Modular Refinery Built in Imo State



President Buhari

President Muhammadu Buhari on Tuesday commissioned the 5,000 barrels per day modular refinery built by Waltersmith Group in Imo State.

President Buhari, who commissioned the new modular refinery virtually, said the refinery will enable Nigeria to export petroleum products to neighbouring countries and other markets.

The 5,000 barrels per day Waltersmith Modular Refinery is the first phase of 50,000 barrels per day combined capacity plant planned for Imo State, according to the Group.

Buhari commended Waltersmith Group, an indigenous oil firm, and the Nigerian Content Development and Monitoring Board for the collaboration that led to the actualisation of the modular refinery.

President Buhari, therefore, directed the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation, the Department of Petroleum Resources and all other relevant government agencies to provide Waltersmith all the necessary support in terms of access to crude oil and condensate feedstock.

Buhari said, “We rolled out our refining roadmap in 2018, to address challenges in the downstream sector. After many years of government giving out modular refining licences without any coming on-stream, we are today seeing a commissioning within two years.

“The plan to commence the expansion of this refinery to 50,000bpd capacity, to refine crude oil and condensate, is a demonstration of the economic reform Nigeria is undergoing.

“The realisation of the refinery roadmap will ultimately lead us to becoming a net exporter of petroleum products, not only to our neighbouring countries but to other wide markets,” he said.

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Elon Musk Net Worth Jumps by $100 Billion this Year to Topple Bill Gates, Mark Zuckerberg, Others 



Tesla earnings

Elon Musk, the Chief Executive Officer and founder of Tesla, is now the world’s second-richest person following another surge in the price of Tesla share.

Musk total net worth jumped by $7.6 billion to $110 billion between November 16 and 17 to dethrone Facebook founder, Mark Zuckerberg, from the third position.

Since then, Tesla stock has been on a bullish run and in the last 24 hours added $7.24 billion to Elon Musk’s total net worth, according to Bloomberg Billionaire Index. Bringing the billionaire’s total net worth to $128 billion.

Elon Musk’s net worth rose from just $28 billion in January 2020 to $128 billion on November 24, 2020, representing an increase of $100 billion, the highest by any billionaire.

Musk has finally toppled Bill Gates as the second richest person and for the first time, Bill Gates is the third richest man in the world. This is the first time in almost 40 years that Gates will be in the third position.

Billionaires listed on Bloomberg Index have collectively gained $1.3 trillion this year.

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An Average of 48% Global Consumers to Significantly Cut 2020 Holiday Spending



Data presented by Buy Shares indicates that an average of 48% of global consumers plans to significantly reduce their 2020 compared to 2019. The research sampled consumer feedback from 13 countries.

Pandemic triggers reduced spending 

The data also highlights that an average of 13.46% of global consumers plans to spend more on 2020 holidays than last year. Consumers from Indonesia at 71% plan to shrink their budget in 2020 while 16% will spend more.

About 69% of Mexican consumers will spend less, while 12% plan for more spending. In Brazil, about 65% of consumers will cut their budget while 11% plan to spend more than last year. At 63%, South African consumers will cut back on holiday spending while 12% plan to increase their budgets from last year.

In Spain, 55% of consumers will reduce their spending while 7% plan an increase from a year ago. Italian consumers spending less will be at 54%, with 6% planning to increase their budget.

In India, about 47% of people will cut back on the holiday budget, while 36% plan to increase spending. French consumers at 44% have intentions of reducing holiday spending while 6% will raise the spending from a year ago. 43% of UK consumers will spend less, while 9% have plans to spend more.

In the United States, 42% of consumers will spend less, while 17% will increase the budget. For Germany, about 29% of consumers will spend less than 7% planing to pay more. It is only in China where more people plan to spend more at 29% than 25% planning to spend less at 25%.

Elsewhere, 21% of Japanese consumers plan to spend less, while 7% will pay more. The research highlighted some of the reasons behind the massive slash in this year’s holiday spending. According to the research report:

“The less spending comes as most consumers lost their jobs and faced pay cuts as employers struggled to remain afloat in the course of the health crisis. Some consumers have been saving more to pay debts, while those on stimulus paychecks cannot sustain daily needs and holiday spending.”

The research also notes that most Americans at 30% look forward to the Christmas holiday while 23% anticipate Amazon Prime Day. Only 7% of Americans look forward to Fathers Day.

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