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Aliko Dangote Calls for Visa Reforms Across Africa to Boost Investment

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Aliko Dangote, the President of Dangote Group and Africa’s wealthiest individual, has embarked on a campaign for reforms in visa policies across the continent.

His impassioned plea comes as he addresses the pressing obstacles these policies pose to investors and business leaders looking to navigate the African landscape.

Speaking at the Africa CEO Forum Annual Summit in Kigali, Dangote shared his personal frustrations while expressing unwavering optimism for Africa’s future.

He took the opportunity to shed light on the challenges he has encountered due to restrictive and inconsistent visa policies that hinder intra-African travel and investment.

“As an investor, as somebody who already wants to make Africa great, I have to now apply for 35 different visas on my passport and I really don’t have time to go and drop my passport in embassies to get a visa. But you see, the most annoying thing is that if you are treating everybody the same, then I can understand but I can assure you, some people don’t need 35 visas,” lamented Dangote.

Highlighting the urgency of the matter, Dangote revealed that even Nigeria’s influential political figures are voicing their dissatisfaction with the current state of affairs.

He disclosed that President Bola Tinubu has expressed similar concerns and is committed to initiating reforms to streamline visa processes into Nigeria.

“On Monday, there was a cabinet meeting, President Tinubu was not happy about this same visa issue and I can assure you that in the next couple of weeks, you will see a massive reform in terms of visas going into Nigeria,” assured Dangote.

Dangote’s clarion call for visa reforms resonates with growing sentiments across the continent as African countries recognize the imperative of fostering a conducive environment for investment and economic growth.

Restrictive visa policies not only deter potential investors but also impede the free movement of talent and resources vital for Africa’s development agenda.

Expressing his unwavering commitment to Africa’s potential, Dangote said, “I am very excited because the growth going forward in the future is Africa. We have whatever it takes to make Africa great and that is why I am not only putting in my own money, I am putting my soul and life in Africa to make it great.”

Dangote likened Africa to a scratch card, symbolizing its untapped potential. “Nothing is impossible in Africa, it is like a scratch card. Unless you scratch it, you won’t know what number it is or be able to use it,” he remarked, underscoring the need for concerted efforts to unlock Africa’s vast opportunities.

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

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Airlines Celebrate Lower Fuel Costs Amid Dangote Partnership

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The Airlines Operators of Nigeria (AON) have confirmed a reduction in the price of aviation fuel, following the commencement of operations at the Dangote Refinery.

This breakthrough came after AON met with the Dangote Group’s management to address the bottlenecks that had been driving up the cost of the essential commodity, subsequently causing a spike in airfares.

For over a year, the end of Nigeria’s fuel subsidy regime had seen petroleum product prices soar, with aviation fuel reaching a critical high of N1,300 per litre by February.

Airline operators voiced their concerns, highlighting the urgent need for government intervention to prevent operational collapse.

The situation was exacerbated by fluctuating forex rates and the escalating cost of aviation fuel, which disrupted operational planning and stability within the sector.

However, in a move aimed at alleviating these challenges, Dangote announced a reduction in the prices of diesel and aviation fuel in April.

According to Dangote, the price of aviation fuel was cut to N940 per litre for customers purchasing five million litres and above, and to N970 per litre for those buying one million litres and above.

Anthony Chiejina, the Head of Communication at Dangote, emphasized the company’s commitment to easing economic hardship on Nigerians.

“Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations to ensure that consumers can buy fuel at affordable prices, whether in Lagos or Maiduguri. You can now purchase one litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates,” he said.

This partnership is expected to expand to other major oil marketers, ensuring that retail buyers do not face exorbitant prices.

Prof. Obiora Okonkwo, spokesperson for AON, confirmed the price reduction, acknowledging the positive impact of their discussions with the Dangote management team.

“We understand that prices fluctuate due to the naira-to-dollar exchange rate and coal value. However, we have noticed a reduction compared to when we were buying from other marketers,” he said.

Despite this optimism, there remains some dissent within the industry. Ado Sanusi, Managing Director of Aero Contractors, stated he was unaware of any price reduction, maintaining that his airline continued to purchase aviation fuel at prices ranging between N1,000 and N1,200.

“I am not aware of any reduction in our fuel prices. We still buy between N1,000 and N1,200. Please, quote them and quote me that I am not aware of any price reduction,” he asserted.

Nevertheless, the general sentiment within the aviation sector is one of cautious optimism. The recent collaboration between Dangote and AON represents a promising step toward stabilizing fuel prices and, by extension, airfares in Nigeria.

As the partnership develops and more oil marketers join the initiative, the industry hopes for sustained relief from the high costs that have plagued it for the past year.

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Aviation Minister Keyamo Takes Action Against Airport Begging and Extortion

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In response to mounting complaints from the public regarding the pervasive issue of begging and extortion at Nigeria’s international airports, Aviation Minister Festus Keyamo has pledged swift action to address the problem.

Taking to X (formerly Twitter), Keyamo acknowledged the widespread concern and clarified that while the agencies involved in these practices are stationed at airports, they do not fall under the direct control of the Ministry of Aviation.

Nevertheless, he assured the public that collaborative efforts with other ministries, government arms, and agencies responsible for airport security are underway to find a lasting solution.

“We are all working under the coordination of the National Security Adviser,” Keyamo stated, underscoring a recent meeting convened to address the issue comprehensively.

He expressed optimism that practical steps will soon be unveiled to curb what he described as an “ugly tide” affecting airport operations.

The minister extended gratitude to Nigerians for their vigilance and assured them of ongoing efforts to rectify the situation.

He said it is important to restore the integrity of Nigeria’s international airports, crucial gateways that leave lasting impressions on visitors and travelers alike.

Keyamo’s proactive stance comes amid growing public outcry over reported instances of harassment and exploitation by unauthorized individuals within airport premises.

The initiative reflects a broader commitment to enhancing security and efficiency across Nigeria’s aviation sector, aligning with efforts to promote transparency and accountability in public service.

As the government gears up to implement new measures, including enhanced oversight and enforcement protocols, stakeholders are hopeful that these initiatives will bring about tangible improvements in airport operations, ensuring a safer and more welcoming experience for all travelers.

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Arik Air Directed to Pay $21,466.64 to Former Air Hostess for Unpaid Salaries

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The Industrial Court in Lagos has ordered Arik Air to pay $21,466.64 in salary arrears to Mrs. Andreia Perdigao, a former air hostess who was wrongfully dismissed by the airline.

This decision, marked as SUIT NO.: NICN/LA/532/2017, brings a significant victory for Perdigao, who had been seeking justice and her unpaid wages since her termination in 2017.

Mrs. Perdigao, who worked with Arik Air for approximately three years, took legal action against her former employer after being dismissed in March 2017.

She sought the court’s intervention to recover her unpaid salaries from December 2016 to March 2017, which amounted to $2,683.33 per month. The total arrears for the eight months were calculated at $21,466.64.

In his judgment, Justice M.N. Esowe affirmed that a valid contract of employment existed between Mrs. Perdigao and Arik Air, thus entitling her to the claimed salaries.

“It is declared that the defendants are bound to pay to the claimant eight months’ arrears of salary for the months of August 2016 through December 2016 and for the months of January 2017 to March 2017 when the 1st Defendant wrongfully terminated the Claimant’s employment,” Justice Esowe stated.

The court further directed Arik Air to pay Mrs. Perdigao an additional $2,683.33 as general damages for breach of contract.

Furthermore, the court ordered that the airline must pay interest at a rate of 15 percent on all the judgment sums from the date of delivery of the judgment until full payment is made.

The court’s decision, dated May 9, has yet to be enforced by Arik Air. When contacted, Adebajo Ola, Head of Corporate Communications at Arik Air, stated he was unaware of the ruling.

“I am not aware of the case. I will need to find out,” Ola said, upon receiving the document and suit information from our correspondent.

This ruling highlights the ongoing issues faced by employees within the aviation sector regarding wrongful termination and unpaid wages.

The judgment serves as a reminder to employers about the legal obligations they hold towards their staff and reinforces the judiciary’s role in upholding employees’ rights.

Mrs. Perdigao’s victory may pave the way for other employees in similar situations to seek justice and proper compensation for wrongful dismissals and unpaid wages.

The case also underscores the importance of adhering to contractual agreements and ensuring fair treatment of employees in all sectors.

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