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FEC Approves N20.1bn to Equip Customs Equipment

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The Federal Executive Council (FEC) on Wednesday approved a total of N20,114,002871 for the acquisition of various operational equipment for the Nigerian Customs Service (NCS).

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this to State House Correspondents after the week’s virtual FEC meeting presided by Vice President Yemi Osinbajo in the Presidential Villa, Abuja.

The Minister said further that Council also approved the sum of N539,277, 673 for construction of the Federal Inland Revenue Service (FIRS) building at the Ilupeju Medium and Small Taxpayers’ office.

Speaking on the contracts approved for Customs, the Minister said a total of 427 operational vehicles, worth N14.55 billion and nine assorted gunboats worth N5,564,002,871 were all approved.

“The ministry also presented, on behalf of the Nigerian Customs Service, a memo that was seeking for Council’s approval for the design, construction and supply of two NC36M patrol boats, in favour of Messrs of Boat Plus Limited, in the sum of N5,062,530,400, inclusive of 7.5% VAT with a delivery period of 12 months and council approved our request.

“We also presented a memo, again on behalf of the Nigerian Customs Service, for the approval of Council for the design, construction and supply of seven fast assault patrol boats and seven regular patrol boats, in favour of Messrs Siwa West Africa Limited, in the sum of N501,472,471.08, inclusive of 7.5% VAT with a delivery period of eight weeks.

“The purpose of the purchase of these two types of petrol boats is to enhance the efficiency and effectiveness of operations of the Nigerian Customs Service in its bid to control smuggling and also ensure enhanced efficiency in all customs duty operations in the Marine Unit of the Nigerian Customs Service.

“We also presented, again on behalf of the Nigeria Customs Service, a request for Council’s approval and council approved the procurement of 427 operational vehicles for the Nigerian Customs Service operations in favour of various contractors in the combined sum of N14.55 billion, inclusive of 7.5% VAT with a delivery period of four weeks”, she said.

Also addressing State House Correspondents after the meeting, Minister of Information and Culture Alhaji Lai Mohammed, who spoke on behalf of the Minister of State for Education, Emeka Nwajiuba, said Council approved a project for the extension of the University of Ibadan’s library at the sum of N532 million.

“The Minister of Education also presented a memo for the award of contract for the construction and furnishing of the extension of the library of the University of Ibadan. The memo, which was approved, is at the cost of N532,609,000 and with a completion period of 48 weeks.

“It was a memo that was very well received because of the need to actually extend the library facility in the University. For many years, the library of the University of Ibadan had needed real extension, given the surge of the student population”, he said.

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Travel

Ethiopian Airlines Expands African Reach with a New Port Sudan Service

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Ethiopian Airlines is delighted to announce the launch of a daily flight service to Port Sudan, Sudan, commencing on October 15, 2024.

This strategic expansion further strengthens Ethiopian’s commitment to enhancing connectivity across the African continent and beyond, fostering regional socio-economic growth and facilitating trade and tourism.

The new route will provide seamless travel options for passengers traveling between Ethiopia and Sudan, as well as connecting travelers from across the vast Ethiopian Airlines network to this significant Red Sea port city.

The introduction of this service underscores Ethiopian’s dedication to serving the evolving needs of the African market and contributing to the continent’s economic development. By connecting Port Sudan to
its extensive global network, Ethiopian Airlines aims to unlock new opportunities for businesses, travelers, and communities, promoting cross-border collaboration and cultural exchange.

The inaugural flight, ET350, will depart from Addis Ababa at 11:00 and arrive in Port Sudan at 12:15. The return flight, ET 351, will leave Port Sudan at 14:15, arriving back in Addis Ababa at 17:30. Both flights will be operated by the state-of-the-art Boeing 737 Max aircraft, ensuring a comfortable and reliable journey.

“We are pleased to connect our Sudanese brothers and sisters from Port Sudan to Addis Ababa,
and to the rest of the world using our extensive global network,” says Mesfin Tasew, Group CEO of Ethiopian Airlines.

“By introducing daily flights to Port Sudan, we are bridging cultures and economies. This expansion is a testament to our unwavering dedication to serve our continent and its people, driving progress and prosperity through the skies.”

With the inclusion of Port Sudan, Ethiopian Airlines expands its network to 66 destinations within Africa. The inauguration of this new route emphasizes Ethiopian Airlines’ dedication to broadening its presence throughout Africa, while simultaneously enhancing connectivity for both business and leisure travelers.

Port Sudan, a city strategically situated along the Red Sea, acts as an essential center for commerce and economics in the region. This development offers a gateway to the diverse cultural
history and burgeoning economic prospects of Sudan.

Ethiopian Airlines invites passengers to experience the warmth and hospitality of its newest destination, Port Sudan. Book your journey today and be part of the growth story that is Ethiopian Airlines – the New Spirit of Africa.

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Education

JAMB Faces N3.6 Billion Liability as Fiscal Responsibility Commission Demands Payment

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The Fiscal Responsibility Commission (FRC) has brought the Joint Admission and Matriculation Board (JAMB) before the House of Representatives for failing to remit N3.602 billion to the Federal Government Consolidated Revenue Fund (CRF).

According to Mr. Bello Aliyu, who represented the FRC at the House of Representatives meeting, JAMB owed N390.725 million in liabilities after the 2021 record was computed. This amount jumped to N3.602 billion following the 2022 audited financial statement.

“The new liability as of 2022 is N3.602 billion. We notified them via our letter written on March 14, and sent another reminder, which we just submitted as of August 31.

“There was no response to the letter from the board,” he said.

Rep. Bamidele Salam, the Chairman of the Public Accounts Committee, said the remittance demanded by the Fiscal Responsibility Commission (FRC) is not subject to personal interpretation.

He emphasized that it was a matter of law or regulation, and had nothing to do with the argument over the 25 percent and 50 percent remittance as claimed by JAMB.

The Committee unanimously ordered JAMB to pay the sum to the commission and provide evidence within 30 days.

Reacting to the verdict, Mr. Mufutau Bello, Director of Finance and Administration at JAMB, said the liabilities resulted from the increase imposed on the organization by the FRC.

He explained that the FRC wanted the board to remit 50 percent of its generated revenue.

“As an organization in 2019, because of our commitment to revenue remittance, the Federal Government reduced the cost of our registration from N5,000 to N3,500.”

This, according to him, was for the benefit of all Nigerians. He noted that JAMB had been remitting 25 percent annually and that they operate within the education sector.

“We have not increased any of our charges in the last eight years; rather, we reduced the fee from N5,000 to N3,500, which represents 30 percent of our revenue.”

“The Accountant-General always gives us the concession to remit 25 percent,” he said.

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U.S. Remains the World’s Most Powerful Travel & Tourism Market

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The World Travel & Tourism Council (WTTC) today launched its 2024 Economic Impact Trends Report, which has revealed the U.S. as the world’s most powerful Travel & Tourism market, contributing a record-breaking $2.36 TN to the nation’s economy last year.

Despite the slow return of spending from international travellers, the U.S. keeps pole position, with almost double the economic contribution of its nearest rival.

Following a record-breaking year for Travel & Tourism, the sector continues to be the backbone to many country economies, while supporting millions of jobs globally.

The latest report from the global tourism body reveals China as the world’s second most powerful market with a GDP contribution of US$1.3 TN in 2023, underscoring its impressive rebound, despite the late reopening of its borders.

Germany secured the third spot with a US$487.6 BN economic contribution, while Japan, which in 2022 was in 5th place, jumped up to 4th position, contributing US$297 BN.

The United Kingdom completes the top five contributing US$295.2 BN.

France, the world’s most popular destination retained its sixth position with a contribution of US$264.7 BN, followed closely by Mexico at US$261.6 BN, showcasing its continued appeal as a major tourist destination.

India came in eighth, rising from a previous 10th position, with US$231.6 BN, marking a notable improvement and highlighting its growing influence in the sector. Italy and Spain complete the top 10, contributing US$231.3 BN and US$227.9 BN, respectively.

However, over the next decade, WTTC predicts China will become the biggest Travel & Tourism market with India moving up to 4th position.

These shifts illustrate the dynamic nature of the global Travel & Tourism sector, with emerging markets gaining ground and traditional powerhouses maintaining their strongholds.

The report also highlights the countries experiencing the highest annual growth rates in their Travel & Tourism contributions to GDP.

In 2023, China’s sector surged led with an astounding year on year growth of 135.8%, while other Asian countries, such as Hong Kong SAR, Malaysia, and the Philippines recovered soon after the removal of travel restrictions.

Julia Simpson, WTTC President & CEO, said: “As we look forward to a record-breaking 2024, it’s clear that Travel & Tourism is not only back on track, but also set to achieve unprecedented growth.

“We will continue to prioritise sustainability and inclusivity, ensuring that this growth benefits everyone and protects our planet for future generations. The sector’s resilience and potential for innovation continues to drive us forward.”

According to the report, many key destinations will profit from a surge in international spending this year compared to pre-pandemic levels, with Saudi Arabia, up 91.3% compared to 2019%, Türkiye (+38.2%), Kenya (+33.3%), Colombia (+29.1%) and Egypt (+22.9%) leading the way.

Globally international visitor spending is set to grow by nearly 16% to reach US$1.9 TN, while domestic tourists are projected to spend more than ever before, reaching US$5.4TN, an increase of 10.3% over 2019 levels.

Travel & Tourism investment grew 13% in 2023 to reach more than US$1TN, with a return to pre-pandemic levels anticipated by 2025.

However, high interest rates around the world could create challenges for future investment. It is therefore crucial that the public and private sectors work together to innovate to ensure the continual strengthening of this vital sector.

The report also highlights the sector’s commitment to sustainability, showcasing the decoupling of growth from greenhouse gas emissions and the increasing opportunities for women, young people, and marginalised communities.

Technological advancements, particularly in AI, are expected to further enhance the travel experience and drive future growth.

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