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BA Resumes Flights to Nigeria after Computer Glitch

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  • BA Resumes Flights to Nigeria after Computer Glitch

After the cancelation of its flights worldwide due to computer glitch at the weekend, British Airways yesterday resumed flights to Nigeria and other destinations, as flight BA075 departed London Heathrow Airport at 12:09p.m. Nigerian time to Lagos.

BA website indicated that the flight departed from the Terminal 5 after one hour delay just as the British mega carrier announced that it would be willing to refund passengers who may want to terminate its scheduled flight with the airline.

Reports also indicated that the Nigeria’s Country Manager to British Airways, Kola Olayinka, confirmed the departure of the flight from Heathrow, saying the main focus of the airline was to make its Nigerian passengers comfortable as much as possible given the circumstances.

“It is true that our flight to Lagos is expected to arrive soon. All what we are trying to do from Nigeria here is to be sure our customers are fine. We are in touch with our passengers to feed them on the development as it unfolds. The situation is gradually returning to normal,” said Olayinka.

According to the airline’s website, following a worldwide British Airways’ IT system collapse last Saturday delays and cancellations of the airline’s flights were expected as it would take few days for the situation to come back to normal.

BA site advised that all British Airways passengers who were due to fly yesterday should check the status of their flights, via Heathrow.com, BA.com and British Airways’ Twitter account, prior to travelling to the airport.

Heathrow Airport also said all passengers whose flights were cancelled last Saturday should not travel to the airport Sunday unless they had already rebooked onto another flight.

Heathrow Airport has continued to provide additional customer service in the terminals to assist passengers affected in addition to providing passengers free water and snacks.

The airline said there was no evidence that its system was hacked while airline union leaders said obsolete parts and the airline’s cost cutting measures might have caused the glitch.

The airline said it was doing everything possible to restore flights but there would be obvious delays and cancellation.

Initially, when the incident happened last Saturday, it tried manual booking but this was very difficult considering the number of passengers that would be attended to.

It is also hoped that in few days the situation would return to normal as the airline seeks for permanent solution to the problem.

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, 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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