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Domestic Airlines Airlift 1.5m in Q, 2017



airport Nigeria
  • Domestic Airlines Airlift 1.5m in Q, 2017

Nigerian airlines airlifted about 1, 514,616 passengers in the first quarter of 2017, reports from the Nigerian Civil Aviation Authority (NCAA) revealed.

This is as industry experts have urged the airlines to ensure effective maintenance of their aircraft to sustain current good safety record in the country.

According to the NCAA, domestic airlines operated 10, 366 flights during the period under review, with Air Peace operating the highest number of 3, 262 flights.

The airline airlifted 289,613 inbound passengers and 233,517 outbound passengers, totaling 523, 130, which is about 40 percent of the total passenger movement during the period.

The NCAA also noted that there were a lot of flight delays by both domestic and international airlines in addition to cancelling of high number of flights in the first quarter.

Leading the pack in flight cancellation in the regional and international routes was Arik Air, which recorded 37 out of the total 54 cancelled flights and delayed 244 of the 295 flights it operated on the regional and international routes in the period under review.

The report also showed that international airlines operated a total of 3,033 flights into Nigeria, out of which a total of 1,220 of the 3,033 (40.2 percent) flights were delayed.

Also, a total number of 54 flights, representing 1.7 percent, were cancelled by the 30 airlines on the regional and international routes in the quarter.

Out of the 54 cancelled flights, Arik Air had 37, which represented 68.5 percent of cancelled flights within the period. Asky Airlines had two cancelled flights; British Airways, one; Cronos Air, one; Delta Air Lines, three; Ethiopian Airline, one; Kenya Airways, one; Lufthansa, one; Med-View Airways, three; South African Airways, two and Virgin Atlantic Airways, two.

Air Peace, Aero Contractors, African World, Air Cote D’Ivoire, Air France, Camair-Co, Dana Air, Egypt Air, Emirates, Etihad, KLM, Meridiana, Middle East, Qatar, Royal Air Marco, Rwandair, Saudi Air, Sudan Airlines and Turkish Airlines, which operate on the regional route, had no cancelled flights within the period.

While Air Peace delayed seven of its 36 flights out of Nigeria in the first quarter, the NCAA report said Arik Air led in the number of delayed flights. It delayed 244 of its 295 flights on the regional and international routes.

Meanwhile, industry experts have called on the airlines to sustain the current safety record being enjoyed in the country by ensuring that they keep to the maintenance standard of their aircraft types, notwithstanding the forex challenges and the high cost of maintenance.

The former Commandant of the Murtala Muhammed International Airport (MMIA), Lagos and the Secretary of Aviation Round Table (ART), Group Captain John Ojikutu, said that cutting corners in terms of maintenance is a major challenge for Nigerian airlines because of the present cash crunch in the country, noting that “the talk about old or new aircraft does not matter; that what matters is maintenance.”

Speaking in the same vein, a former CEO of Nigeria Airways Limited and currently the Managing Director/ Chief Executive of Skypower Express Airways, Captain Mohammed Joji said that there is nothing like old aircraft when it is properly maintained, noting that what is always important is how properly an airline maintains its fleet.

According to him, “An old aircraft is as good as new when it is properly maintained but a new aircraft is as bad as old aircraft when it is not properly maintained. All aircraft are new when they are properly maintained and you could be operating them until you are tired or you change them for economic reasons.”

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


Inflation and Forex Mismanagement Drive Petrol Truck Prices from N7M to N25M



Petrol Importation -

The Chairman of the Independent Petroleum Marketers Association of Nigeria in the Satellite Depot branch, Akin Akinrinade, has raised an alarm over the rising cost of petrol trucks in Nigeria.

According to Akinrinade, the cost of a petrol truck has surged from N7 million in May to an astonishing N25 million at present, attributed to inflation induced by poorly managed foreign exchange rates.

Akinrinade pointed out that the forex mismanagement has significantly impacted the landing cost of premium motor spirit (PMS), commonly known as petrol, consequently leading to a surge in pump prices.

The unstable business environment, coupled with the astronomical rise in expenses, has created challenges for marketers in the downstream oil sector.

Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), highlighted in October 2023 that foreign exchange challenges have hindered private companies from importing petroleum products.

As a result, the NNPCL has become the exclusive importer of petrol.

The decision to limit private entities from importing fuel comes after President Bola Tinubu’s initiatives aimed at deregulating the fuel market.

Initially, the plan was to allow private companies to import fuel starting June 2023, aligning with efforts to balance the market after removing petrol subsidies.

The ripple effects of the soaring petrol costs are already evident, with commercial transporters increasing fares, and private car owners seeking fuel-saving alternatives.

As Christmas approaches, the surge in demand for interstate travel is expected to further elevate costs, posing financial challenges for many Nigerians amidst stagnant income levels.

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Nigeria’s Presidential CNG Initiative Allocates N100bn for CNG Buses and EV Adoption




The Presidential Compressed Natural Gas (CNG) Initiative has allocated N100 billion to expedite the deployment of CNG buses nationwide, according to a statement released on Wednesday.

The initiative, designed to catalyze an Auto-gas and Electric Vehicle (EV) revolution in mass transit and transportation, aims to enhance sustainability and cost-effectiveness.

The statement revealed that the fund would be instrumental in supporting the adoption of auto-gas and electric vehicles, signaling a commitment to a more sustainable and economical future in the transportation sector.

The Presidential CNG Initiative plans to leverage over 11,500 CNG and electric-fueled vehicles, along with the deployment of 55,000 conversion kits.

This strategic approach is intended to reduce transportation costs for Nigerians and mitigate the challenges posed by the rising cost of living.

Under the Renewed Hope Agenda, the Presidential CNG Initiative is dedicated to realizing the President’s vision, guided by its steering committee led by FIRS Chairman Zacch Adedeji.

The statement highlighted recent achievements, including strategic technical partnerships and the ongoing commissioning of CNG Conversion centers in key states such as Lagos, Abuja, Kaduna, Ogun, and Rivers.

Several more centers are slated for commissioning in the coming weeks, reflecting the initiative’s momentum and commitment to achieving its objectives.

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Nigeria’s Power Transformation: 53 Projects Worth N122bn on Track for May 2024 Completion



power project

The Central Bank of Nigeria (CBN), in collaboration with the Transmission Company of Nigeria (TCN) and power distribution companies, is set to complete 53 power projects by May next year.

Valued at N122 billion, these projects aim to add over 1,000 megawatts to TCN’s wheeling capacity.

During a recent tour of three ongoing projects in Lagos, TCN’s Programme Coordinator, Mathew Ajibade, assured that the projects were not abandoned, refuting speculations.

He confirmed that work is progressing smoothly and is expected to be completed by May 2024, as initially planned.

Assistant Director/Head of Infrastructure Finance Office at the CBN, Tumba Tijani, highlighted the CBN’s support for the power sector, revealing that the bank released a loan at a 9% interest rate in August last year for the projects.

The funding, part of the Nigeria Electricity Market Stabilisation Facility-3, amounts to N122,289,344 and aims to address transmission/distribution bottlenecks, enhance supply to end-users, and unlock unutilized generation capacity.

Tijani disclosed that N85.43 billion has been disbursed into the Advance Payment Guarantee account of the 53 contractors responsible for executing the projects.

The comprehensive project list includes the delivery of power transformers, re-conductoring existing transmission lines, upgrading existing substations, and constructing 33KV line bays.

The initiative reflects a concerted effort to enhance Nigeria’s power infrastructure and meet growing energy demands.

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