Business Archives - Page 2 of 101

“How Airlines’ Collapse Threatens Nigeria’s Wider Economy”

Posted on April 29, 2026April 29, 2026 by Wole Shadare

President of the Aircraft Owners and Pilots Association, Alex Nwuba, has highlighted the profound multiplier effect that aviation has on a nation’s economy, particularly in a country like Nigeria. He warned that when an airline collapses, the impact is rarely confined to the company itself; it ripples through several critical sectors. Speaking against the backdrop of the volatility in jet fuel and its implications on the fragile state of Nigerian carriers, the speaker said airline…

Ibom Air to cut capacity over soaring jet fuel

Posted on April 27, 2026 by Wole Shadare

Carrier spends N7.6 million on fuel per flight from N2.1million Citing soaring jet fuel prices in Nigeria, Ibom Air on Monday said it may be forced to reduce flight capacity to continue providing services to its customers. The airline’s statement, signed by Aniekan Essienette, Group Manager, Marketing and Communication, said the fuel price situation is an unprecedented crisis for Nigeria’s domestic airlines, adding that at Ibom Air, the cost of fueling its aircraft has more…

Galloping jet fuel: SADC airlines to implement cost recovery, surcharges

Posted on April 27, 2026 by Wole Shadare

The Airlines Association of Southern Africa (AASA) has noted with grave concern the lack of clarity around the availability of jet fuel across the Southern Africa Development Community (SADC) region, beyond next month. Air transport, a crucial pillar of SADC members’ economies, is particularly susceptible to disruptions in fuel supplies because it depends almost entirely on imported crude oil and refined Jet-A1 kerosene. Chief Executive Officer of AASA, Aaron Munetsi, in a statement, said…

Nigeria to deepen aviation ties with UK

Posted on April 26, 2026 by Wole Shadare

British Airways celebrates 90 years of Air service to Nigeria President Bola Ahmed Tinubu has reaffirmed Nigeria’s commitment to deepening economic relations with the United Kingdom, particularly in the aviation sector and other mutually beneficial areas. Tinubu gave the assurance when he met with a delegation from British Airways led by the British High Commissioner to Nigeria, Dr Richard Montgomery and the Commercial Officer of British Airways, Mr Colm Lacy, at the Presidential Villa,…

Thomas: Why Nigeria trails counterparts in air cargo sector

Posted on April 26, 2026 by Wole Shadare

UK‐Nigeria trade hit £8.1 billion Q4 2025 The Director of Cargo Development and Services, Lekan Thomas, said it is a striking irony that Nigeria—the continent’s economic powerhouse—lags significantly behind its peers in the air cargo sub-sector. He disclosed that while the nation ranks fifth in air cargo traffic behind Ethiopia, Kenya, South Africa, and Ghana, some recent industry data actually suggests an even more precarious position for Nigeria when factoring in the sheer dominance of…

Tension, uncertainty as NCAA, operators, oil marketers meet today over jet A1 scarcity, high cost

Posted on April 22, 2026April 22, 2026 by Wole Shadare

Fuel hike, logistic issues cripple domestic schedules, trigger global airline chaos Airlines’ losses exceed $3 billion in two months, mull fare hike The jet fuel crisis has reached a boiling point, leaving Nigerian aviation in a state of high-tension uncertainty. While the industry narrowly avoided a total nationwide shutdown on Monday, the scarcity bite is translating into widespread flight cancellations and a crippled domestic schedule. All eyes are on today, when airlines under the aegis…

Major oil marketers counter airline operators’₦3,300 claim, cites cheaper jet fuel options

Posted on April 16, 2026 by Wole Shadare

Ditch spot pricing to survive volatile Jet A1, says MEMAN The dispute between the Airline Operators of Nigeria (AON) and the Major Energies Marketers Association of Nigeria (MEMAN) has reached a boiling point, with both sides presenting vastly different accounts of current pricing and market realities. In a letter dated April 14, AON President Abdulmunaf Sarina warned that the price of Jet A1 (aviation fuel) had spiked from ₦900 per litre in February to ₦3,300…

Airlines cite 300% local manipulation for jet fuel hike, plan shutdown

Posted on April 15, 2026April 15, 2026 by Wole Shadare

Say surge in price not sustainable, wants FG’s intervention The Airline Operators of Nigeria (AON) have issued a formal notice to suspend flight operations nationwide starting Monday, April 20, 2026, citing the unsustainable surge in the price of Jet A1 (aviation fuel). They described the April 20 shutdown as a final plea for government intervention to prevail on marketers and stabilise pricing. At least one airline has already been forced to suspend all operations…

African aviation’s tech spend isn’t delivering full value – SITA report

Posted on April 15, 2026April 15, 2026 by Wole Shadare

The latest SITA Air Transport IT Insights report for 2025/2026 highlights a critical paradox in the African aviation sector: while IT spending is on the rise, the full value of these investments is being choked by systemic and structural bottlenecks. The 2025 report identifies poor data integration as the single largest barrier to ROI. Airlines and airports are spending a record $50.8 billion globally on IT. The African Reality: While 83% of airlines prioritise data-driven…

Aviation Evolution: Nigeria Secures 20-Year Strategic Roadmap from ICAO in Marrakech

Posted on April 14, 2026 by Wole Shadare

Nigeria reached a significant aviation milestone during the opening session of the ICAO Global Implementation Support Symposium (GISS) in Marrakech, Morocco. Nigeria, alongside 21 other nations, endorsed the Marrakech Call to Action. The Minister of Aviation and Aerospace Development, Festus Keyamo, officially received Nigeria’s Civil Aviation Master Plan (CAMP) from the International Civil Aviation Organisation (ICAO). This 20-year roadmap (2025–2045) is designed to fundamentally restructure and modernise Nigeria’s aviation sector. By adopting this plan, Nigeria moves closer to its goal…

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