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Domestic Airlines Airlift 1.5m in Q, 2017

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  • 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.”

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.

Economy

NNPC Supplies 1.44 Billion Litres of Petrol in January 2021

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The Nigerian National Petroleum Corporation (NNPC) supplied a total of 1.44 billion litres of Premium Motor Spirit popularly known as petrol in January 2021.

The corporation disclosed in its latest Monthly Financial and Operations Report (MFOR) for the month of January.

NNPC said the 1.44 billion litres translate to 46.30 million litres per day.

Also, a total of 223.55Billion Cubic Feet (BCF) of natural gas was produced in the month of January 2021, translating to an average daily production of 7,220.22 Million Standard Cubic Feet per Day (mmscfd).

The 223.55BCF gas production figure also represents a 4.79% increase over output in December 2020.

Also, the daily average natural gas supply to gas power plants increased by 2.38 percent to 836mmscfd, equivalent to power generation of 3,415MW.

For the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.

Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 65.20%, 19.97 percent and 14.83 percent respectively to the total national gas production.

Out of the total gas output in January 2021, a total of 149.24BCF of gas was commercialized consisting of 44.29BCF and 104.95BCF for the domestic and export markets respectively.

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Economy

NNPC Says Pipeline Vandalism Decrease by 37.21 Percent in January 2021

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Gas-Pipeline

The Nigerian National Petroleum Corporation (NNPC) said vandalisation of pipelines across the country reduced by 37.21 percent in the month of January 2021.

This was disclosed in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).

The report noted that 27 pipeline points were vandalised in January 2021, down from 43 points posted in December 2020.

It also stated that the Mosimi Area accounted for 74 percent of the total vandalised points in Janauray while Kaduna Area and Port Harcourt accounted for the remaining 22 percent and 4 percent respectively.

NNPC said it will continue to engage local communities and other stakeholders to reduce and eventually eliminate the pipeline vandalism menace.

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Economy

Nigeria’s Food Inflation Hits 22.95 Percent in March 2021

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Food inflation in Africa’s largest economy Nigeria rose by 22.95 percent in March 2021, the latest report from the National Bureau of Statistics (NBS) has shown.

Food Index increased at a faster pace when compared to 21.70 percent filed in February 2021.

Increases were recorded in Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetable, Fish, Oils and fats and fruits.

On a monthly basis, the food sub-index grew by 1.90 percent in March 2021. An increase of 0.01 percent points from 1.89 percent recorded in February 2021.

Analysing a more stable inflation trend, the twelve-month ended March 2021, showed the food index averaged 17.93 percent in the last twelve months, representing an increase of 0.68 percent when compared to 17.25 percent recorded in February 2021.

Insecurities amid wide foreign exchange rates and several other bottlenecks that impeded free inflow of imported goods were responsible for the surged in prices of goods and services in March, according to the report.

The Central Bank of Nigeria-led monetary policy committee had attributed the increase in prices to scarcity created by the intermittent clash between herdsmen and farmers across the nation.

However, other factors like unclear economic policies, increased in electricity tariffs, duties, subsidy removal and weak fiscal buffer to moderate the negative effect of COVID-19 on the economy continue to weigh and drag on new investment and expansion of local production despite the Federal Government aggressive call for improvement in domestic production.

Nigeria’s headline inflation rose by 18.17 percent year-on-year in the month under review.

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