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Ethiopian Airlines Offers to Partner Nigeria on National Carrier

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  • Ethiopian Airlines Offers to Partner Nigeria on National Carrier

Ethiopian Airlines has expressed its preparedness to partner Nigeria on the federal government’s planned national carrier.

The airline said a country with such huge passenger traffic needs government-backed airline, saying that it has all it takes, including technical know-how, equipment and personnel to partner with the planned carrier.

Ethiopian Airlines Managing Director, International Services, Mr. Esayas Haliu, who spoke to a team of Nigerian journalists in Addis Ababa, said the airline has succeeded in all it had established with many countries in Africa.

Hailu, said as the largest economy in Africa, with such huge population, which he described as most precious, Nigeria truly deserves a national carrier.

“There have been attempts to off-load some bids for foreign airlines by Nigerian government, Ethiopian has always been participating in that but so far, we have not been picked but we are able, capable and ready and whenever the vacancy is created, we are ready to come for any partnership.

“Secondly, Nigeria has been a very good host and by their volume of the population which is demography dividends, the most precious resource is the human resource, the largest economy, the mobility is very high both domestically and foreign, for that; Nigeria really requires a national carrier, we wish them success, if we are required to support, we are ready and willing to do that, any partnership that arises from that is most welcome and we are in expectation of that”, he said.

The East African carrier also hinted that it plans to introduce a second frequency into Lagos, through the Murtala Muhammed International airport, adding that it plans to connect the United States of America from Nigeria, subject to approval by the Nigerian government.

On the Single African Air Transport Market (SAATM), Haliu said the success of the treaty was the key to reducing the dominance of international mega carriers, which have 80 per cent of the African travel market and enhancing connectivity in Africa.

He noted that Africa has only three per cent of the global air travel market and 80 per cent of that market was dominated by international carriers, leaving African carriers with only 20 per cent.

According to him, the full implementation of SSATM would free the market from mega carriers, as the treaty guarantees access to African airlines to all signatory nations.

“When Single African Transport management which is advocated by African Union commission, when that one comes people think that only a few airlines will benefit from that, No!

“As we are speaking, 80 per cent of African traffic is taken by non-Africans, so all of us put together we have only 20 per cent so we need to attack that 80 per cent.

“We need to eclipse, 80 per cent should be African airlines and 20 per cent should be non-African airlines. This is our continent, that is our traffic and so for more African countries to come, the traffic, which is not in the hands of the African airlines is much more.

“So we have a lot more to play with, it’s not as if we have to scramble that same 20 per cent. No! We don’t settle for that and we want to contribute more than three per cent of the global air traffic which we are doing now, it’s only three per cent.”

He said it was in the bid to make such major contribution that Ethiopia Airlines is going to every African country and helping to establish regional national carriers.

According to him, if SAATM was fully implemented one of its benefits would be to redistribute wealth by reducing capital flight from Africa to non-African countries.

“All this effort is for African airlines to grow, thrive and dominate the 80 per cent of the market so that employment, taxes, revenue, opportunity the capital sinks in the African continent and does not fly away.

He, however, expressed dissatisfaction about the uncooperative stance of some African countries preferring to sell traffic rights to non-African countries at the detriment of African carriers.

“Right now, many of the African nations have been given traffic rights to non -African nations more and when fellow Africans ask they deny them services.

“So, SAATM is a very good solution for Africa to put its hands together, organise itself together and to thrive, so SAATM is the best thing that can happen to Africa because air traffic connectivity is a tool for economy, cultural exchange, tourism, regional tourism as well as people and goods transaction,” he said.

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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APM Terminals in Talks with Government for Terminal Upgrade in Apapa

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APM Terminals is engaging in discussions with the government for a significant upgrade at its Apapa terminal.

Keith Svendsen, the Chief Executive Officer of APM Terminals, disclosed the company’s ambitious plans aimed at accommodating vessels with deep drafts and large ship-to-shore cranes.

The upgrade is part of APM Terminals’ long-term vision to bolster import and export opportunities in the country, create employment, and diversify local opportunities.

Svendsen emphasized the importance of fortifying existing port infrastructure, especially in Lagos, to manage increasing trade volumes effectively.

“While greenfield terminals like Lekki and later on Badagry would support economic growth in the long run, the more urgent requirement is in our view to upgrade the existing port infrastructure,” Svendsen commented.

The proposed upgrades seek to facilitate smoother operations, providing seamless connectivity through road, rail, and barge networks to mainline shipping.

Svendsen highlighted the unique position of the Apapa port in offering access to international markets for Nigerian importers and exporters, leveraging not only road but also rail and waterways, utilizing barges.

APM Terminals has been a pivotal player in Nigeria’s maritime sector for close to two decades. The company’s commitment to the nation’s economic growth is underscored by its proposed investment of over $500 million, subject to a long-term partnership with the government.

The Apapa terminal is a vital gateway for trade, handling a significant portion of Nigeria’s container traffic.

Furthermore, APM Terminals’ operations in Lagos and Onne collectively manage about half of the containers in Nigeria, demonstrating their pivotal role in the country’s logistics landscape.

The proposed upgrades signify APM Terminals’ dedication to supporting Nigeria’s economic reforms and attracting international investments.

The company has already invested over $600 million since its inception in Nigeria in 2006, directly employing approximately 2,500 Nigerians and indirectly contributing to employment for about 65,000 individuals.

“At APM Terminals, we believe strongly in the prospects for the Nigerian economy and the long-term opportunities that the current economic reforms and invitation for international investments will generate,” Svendsen affirmed.

As talks between APM Terminals and the government progress, stakeholders are optimistic about the positive impact of the proposed terminal upgrades on Nigeria’s maritime sector and overall economic development.

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Uber Rolls Out Flex Pay Feature: Daily Earnings for Nigerian Drivers

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Uber has rolled out a feature in Nigeria that promises to revolutionize the way drivers receive their earnings.

Dubbed “Flex Pay,” this innovative initiative allows Uber drivers across the country to access their earnings daily, a significant departure from the previous weekly payment system.

The announcement came during a recent media briefing led by Tope Akinwumi, Uber Nigeria’s country manager.

Akinwumi expressed the company’s commitment to supporting its drivers by introducing Flex Pay, which aims to help drivers meet their financial obligations more promptly and efficiently.

With Flex Pay, drivers now have the flexibility to access their earnings directly through their mobile wallets on a daily basis.

This move is poised to bring about a host of benefits for drivers, offering them greater financial stability and control over their finances.

In addition to the introduction of Flex Pay, Uber also unveiled a set of new features designed to enhance the driver experience on the platform.

One such feature is the ability for drivers to see upfront details about a trip request, including the destination and expected fare.

This added transparency empowers drivers to make more informed decisions about which trips to accept, ultimately improving their overall experience on the platform.

Speaking about the new features, Akinwumi emphasized Uber’s commitment to prioritizing the needs and feedback of its driver-partners.

He highlighted the company’s ongoing efforts to innovate and develop solutions that enhance the driver experience and ensure their satisfaction with the platform.

“We are constantly listening to feedback from our driver-partners and striving to provide them with the tools and support they need to succeed,” said Akinwumi.

“The introduction of Flex Pay and other new features is a testament to our commitment to empowering our driver-partners and enhancing their experience on the Uber platform.”

The implementation of Flex Pay marks a significant milestone for Uber in Nigeria, demonstrating the company’s dedication to driving positive change and innovation in the ride-hailing industry.

As drivers begin to benefit from daily earnings and increased transparency, Uber is poised to strengthen its position as a leading provider of flexible earning opportunities in the country.

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Exxon Mobil’s $1.28 Billion Asset Sale to Seplat Energy Set for Approval, Ending Two-Year Wait

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After a prolonged two-year wait, Exxon Mobil’s anticipated $1.28 billion asset sale to Seplat Energy is poised for approval by Nigeria’s oil regulator.

The deal, which has been in limbo since 2022, could finally see the light of day following recent communication from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Gbenga Komolafe, the chief of NUPRC, revealed to Reuters on Thursday that the regulatory body is on the verge of giving its consent to the transaction.

Komolafe disclosed that Exxon Mobil and Seplat Energy are scheduled to attend a pivotal meeting on Friday, during which they will discuss the final steps towards approval.

He expressed optimism, stating, “Subject to the outcome of the meeting, consent… could be given in less than two weeks from the date of the meeting.”

According to Komolafe, NUPRC will present the companies with two mutually exclusive options, the acceptance of which would pave the way for the deal’s approval.

While he didn’t delve into specifics, he emphasized that Nigerian law mandates provisions for decommissioning, host community development, and environmental remediation.

“We don’t want our nation to carry unwarranted financial burdens arising from the operations of the assets over time by the divesting entities,” Komolafe asserted, underscoring the importance of responsible asset management.

The $1.28 billion sale holds immense significance for Nigeria’s oil industry, which has faced challenges stemming from underinvestment and security concerns in recent years.

With oil majors like Shell and TotalEnergies divesting from onshore shallow water operations due to security issues, regulatory approval of the Exxon-Seplat deal could inject much-needed capital into the sector.

Analysts view the impending approval as a potential catalyst for improved oil output in Nigeria. Moreover, it could serve as a positive signal to investors, paving the way for similar deals in the future.

The regulatory clearance of Shell’s asset sale to Renaissance in January has further bolstered expectations regarding the viability of such transactions.

As Nigeria looks to revitalize its oil sector and attract investment, the imminent approval of Exxon Mobil’s asset sale to Seplat Energy marks a significant milestone, bringing an end to a prolonged period of uncertainty and setting the stage for renewed growth and stability in the country’s vital energy industry.

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