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Lufthansa Won’t Fly to Kaduna During Abuja Airport Closure

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  • Lufthansa Won’t Fly to Kaduna During Abuja Airport Closure

German carrier Lufthansa will not fly to the Kaduna airport during the closure of the Nnamdi Azikiwe International Airport in Abuja, a company spokesman said yesterday.

Lufthansa’s statement was the fallout of federal government’s decision to divert flights to the Kaduna airport, located about 100 miles north of Abuja, while the main airport is undergoing repairs, scheduled to take six weeks from March 8.

“We won’t fly from Kaduna during the closure of Abuja airport for six weeks,” the Lufthansa spokesman said by phone to Reuters. He did not give a reason.

The runway at the main airport had deteriorated to such an extent that some major international carriers refused to fly there, and some aircraft reported damage to their undercarriage.

While it is closed, Abuja-bound passengers will have to fly to Kaduna and travel by bus to the capital, guarded by security, on a road where kidnappings have taken place in the past few years.

The plans for Kaduna to handle Abjua flights have been met with scepticism. The airport handled just 12 flights in December 2015, the last month for which Nigeria’s airports authority has figures, compared with 812 that used Abuja.

A new terminal is being built but when Reuters visited it last month it was still under construction with cables hanging from ceilings.

Contingency plans are in place for the existing terminal to be used. The temporary closure of Abuja’s airport has been criticised by aviation labour unions, business leaders and diplomats.

British Airways, Air France, Turkish Airlines, EgyptAir and Ethiopian Airlines also fly to Abuja.

In October, Dubai-based Emirates stopped flying to Abuja, blaming the state of the runway and low load factor, among other reasons, according to the Ministry of Aviation.

Despite the reservations over the choice of Kaduna as an alternative aviation hub, the Minister of State for Aviation, Mr. Hadi Sirika, yesterday inaugurated a committee that would supervise the security arrangements for passengers at the Kaduna Airport, its environs and the Abuja-Kaduna expressway during the six weeks closure of the Abuja airport.

According to him, the committee which is made up of high level security personnel, will proactively adopt measures to checkmate any security threats to passengers and visitors during the rehabilitation of the Abuja runway.

While allaying perceived fears over Kaduna and its environs, he said the primary objective of governance is to secure and safe guard the citizenry and foreigners at all times, adding that the government under President President Muhammadu Buhari cannot do less, especially during the six weeks temporary closure of the Abuja airport.

Inaugurating the committee headed by the Assistant Inspector General of Police (AIG), Mr. Alkali Baba at the ministry’s headquarters in Abuja, the minister said the committee must be proactive to deal with any security challenges that may arise during the six weeks period.

Other members of committee include representatives of the Police Force, Nigerian Air Force, Federal Road Safety Commission (FRSC), Department of State Service (DSS), and the Nigeria Security and Civil Defence Commission (NSCDC).

Others are the Nigerian Immigration Service (NIS), Nigerian Customs Service (NCS), Federal Airports Authority of Nigeria (FAAN), and the National Drug Law Enforcement Agency (NDLEA).

The minister, while charging the members to provide all round security at the Kaduna Airport, said: “There is so much hype in the media about the perceived fear and threat surrounding the use of the Kaduna Airport.

“Government is setting up this high end committee to ensure watertight security for all passengers and stakeholders during the six-week closure of the Abuja Airport.”

According to him, government is determined to ensure holistic security through air surveillance, as well as rail and road monitoring for the safety of passengers and cargo movement.

He stressed that an adequate security template, which cannot be made available to the public, was in top gear to ensure hitch-free movement of passengers.

The chairman of the committee said the team would commence the reinforcement of security personnel on the Kaduna bye-pass, the airport and railway terminals at Idu and Kaduna.

Baba said: “The police and other security personnel are already on the ground, we shall map out immediate and remote challenges on the movement of passengers and hopefully, Nigerians and foreigners will not be disappointed.”

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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President Tinubu Appoints Nigeria’s Renowned Banker, Jim Ovia as Chairman of Nigerian Education Loan Fund

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President Bola Tinubu has approved the appointment of the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).

This was announced in a State House Press Release by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale on April 26, 2024.

According to the statement, ‘‘the President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.’’

Jim Ovia, CFR, is the Founder and Chairman of Zenith Bank Plc, one of Africa’s largest banks with over $21.4 billion in assets and shareholders’ funds of over US$2.4 billion as at December 2023.  Zenith Bank is a global brand listed on the London Stock Exchange and the Nigerian Stock Exchange.

In addition to major operations in Nigeria and other West African countries, the Bank has sizeable operations in London and Dubai.

Jim Ovia is the Founder and Chancellor of James Hope University, Lekki, Lagos which was recently approved by the National Universities Commission (NUC) to offer postgraduate degrees in business courses.

James Hope University commenced activities in September 2023.

Through his philanthropy – the Jim Ovia Foundation – he has shown the importance he accords good education.  In support of the Nigerian youth, Jim Ovia Foundation offers scholarships to indigent students through the Mankind United to Support Total Education (MUSTE) initiative.

Most of the beneficiaries of Jim Ovia Foundation scholarship are now accountants, business administrators, lawyers, engineers, doctors etc.

He is the author of “Africa Rise and Shine”, published by ForbesBooks. The book which encapsulates Zenith Bank’s meteoric rise, details the secrets of success in doing business in Africa. He is an alumnus of the Harvard Business School (OPM), University of Louisiana (MBA), and Southern University, Louisiana, (B.Sc. Business Administration). Jim Ovia is a member of the World Economic Forum (WEF) Community of Chairpersons, and a champion of the Forum’s EDISON Alliance.

In recognition of Jim Ovia’s contributions to the economic development of Nigeria, in 2022, the Federal Government of Nigeria honoured him with Commander of the Federal Republic, CFR. Also, in May 2022, Jim Ovia was conferred with the National Productivity Order of Merit (NPOM) Award by the Federal Government of Nigeria.

Earlier, he has been conferred with the national awards of Member of the Order of the Federal Republic, MFR, and Commander of the Order of the Niger, CON, in 2000 and 2011, respectively, as a testament to his visionary leadership and contributions to Nigeria’s financial services sector.

The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.

The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.

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NNPC and ARPHL Collaborate to Expand Port Harcourt Refinery to 310,000bpd

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The Nigerian National Petroleum Company Limited (NNPC) has joined forces with the African Refinery Port Harcourt Limited (ARPHL) to expand the Port Harcourt Refinery.

The collaboration entails ARPHL’s subscription of a 15% equity stake in the Port Harcourt Refining Company, a move aimed at augmenting the refinery’s daily production capacity from 210,000 barrels per day (bpd) to 310,000bpd.

The agreement, finalized at a signing ceremony held at the NNPC Towers in Abuja, underscores the commitment of both parties to bolstering Nigeria’s downstream oil and gas sector.

Managing Director of African Refinery Port Harcourt Limited, Omotayo Adebajo, and NNPC’s Executive Vice-President, Downstream, Adedapo Segun, sealed the deal, marking a pivotal moment in the nation’s quest for energy self-sufficiency.

According to statements released by NNPC and ARPHL, the subscription agreement represents a crucial step towards expanding Nigeria’s refining capacity and addressing the nation’s persistent reliance on imported petroleum products.

The proposed increment of 100,000bpd in the Port Harcourt Refinery’s capacity is poised to significantly reduce Nigeria’s dependence on imported fuel, fostering economic resilience and energy security.

Speaking on the collaboration, NNPC’s Executive Vice-President highlighted the strategic significance of co-locating the proposed additional refining capacity with the existing facilities at the Port Harcourt Refinery complex.

The move not only optimizes existing infrastructure but also underscores NNPC’s commitment to modernizing and revitalizing Nigeria’s refining sector.

In a similar vein, Tola Ayo-Adeyemi, Group Executive Director, Legal and Regulatory Compliance at African Refinery Group, emphasized the transformative impact of the collaboration on Nigeria’s energy landscape.

He highlighted the ARPHL refinery project’s position as the largest private refinery in Nigeria’s South-South and South-East geopolitical regions, underscoring its pivotal role in driving regional development and economic growth.

The groundbreaking ceremony for the ARPHL refinery project, scheduled for later this year, symbolizes a significant milestone in Nigeria’s journey towards energy independence.

With construction slated to commence in 2025 and commercial operations targeted for 2027, the project represents a beacon of hope for Nigeria’s refining sector, promising to deliver over 30 million liters of various petroleum products daily upon completion.

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Tech Giants Microsoft and Alphabet Beat Expectations, Driven by AI and Cloud Revenue

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Industry titans Microsoft Corp. and Google parent company Alphabet Inc. have surpassed Wall Street’s expectations, buoyed by robust growth in artificial intelligence (AI) and cloud computing revenue streams.

The stellar quarterly results underscore the pivotal role of advanced technologies in shaping the future of these tech behemoths.

Both Microsoft and Alphabet showcased impressive performances in their latest earnings reports, sending their shares soaring in after-hours trading.

Microsoft’s stock surged by 6.3%, while Alphabet witnessed an astonishing 17% increase, reflecting investor confidence in the companies’ strategic investments and innovative initiatives.

The driving force behind this remarkable success story is the accelerating demand for AI-powered solutions and cloud services. As businesses increasingly embrace digital transformation, the adoption of AI technologies and cloud infrastructure has become paramount, fueling substantial revenue growth for both Microsoft and Alphabet.

At the forefront of this AI revolution, Microsoft and Alphabet have been fervently expanding their AI capabilities and integrating them into a wide array of products and services.

From advanced AI models to cloud-based AI solutions, both companies have been relentless in their pursuit of technological innovation, positioning themselves as leaders in the rapidly evolving AI landscape.

Silicon Valley has heralded 2024 as the year of generative AI, a groundbreaking technology capable of creating text, images, and videos from simple prompts.

Microsoft and Alphabet have capitalized on this trend, leveraging generative AI to drive business growth and enhance their cloud computing offerings.

The surge in cloud computing demand has been a particularly welcome development for Google, which has long trailed behind rivals such as Amazon and Microsoft in this competitive market.

After achieving profitability in its cloud operation last year, Google’s first-quarter profit of $900 million far exceeded analysts’ projections, signaling a significant turnaround for the tech giant.

Microsoft’s Azure cloud computing platform also experienced robust growth, with sales climbing by 31% in the quarter, surpassing analysts’ expectations.

The integration of AI technology into Azure subscriptions has proven to be a key driver of growth, as businesses increasingly recognize the value of AI-driven insights and automation.

Furthermore, both Microsoft and Alphabet have seen promising uptake of AI-powered tools across various industries. From AI assistants for office productivity to AI-driven coding platforms, these companies are empowering businesses with cutting-edge AI solutions that enhance productivity, efficiency, and innovation.

Despite the stellar performance of Microsoft and Alphabet, the broader tech landscape remains dynamic and competitive.

While both companies have demonstrated resilience and adaptability in navigating market challenges, they must continue to innovate and evolve to maintain their competitive edge in an increasingly digital world.

As the AI and cloud computing revolution continues to unfold, Microsoft and Alphabet are well-positioned to lead the charge, driving innovation, shaping industries, and delivering value to customers around the globe. With their unwavering commitment to technological excellence, these tech giants are poised for continued success in the dynamic landscape of the digital age.

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