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*Nigeria has $200b aviation infrastructure deficit Acting President, Prof. Yemi Osinbajo said the Federal Government would commit funds into resuscitation of decrepit infrastructure at the major airports across the country, particularly the Murtala Muhammed Airport, Lagos. The Acting President made the disclosure when he paid an unscheduled inspection of facilities at the Murtala Muhammed International Airport, Lagos today. He was accompanied by the Minister of State for Aviation, Hadi Sirika. He was conducted round the…

The Chairman of The Resort Group, Dr. Wale Babalakin (SAN), said infrastructure deficit was one of the major problems facing the country’s aviation sector and cannot be sustained by quick fixes.   Speaking on the topic, ‘Focus on Nigeria’s Aviation Sector’, on a television programme,  Babalakin, whose firm, Bi-Courtney Aviation Services Limited (BASL) manages the Murtala Muhammed Airport Two (MMA2), said infrastructure deficit was a deliberate position of the government.   According to him, “If you’ve been…

The Managing Director, Federal Airports Authority of Nigeria (FAAN), Saleh Dunoma has stated that the agency, in a bid to conform to global trends and international best practices would continue to improve on service delivery and ensure ultimate satisfaction of customers by providing excellent services.   This, he said, prompted the acquisition and commissioning of a Closed User Group Telephony System for Customer Service/Servicom Department, today.   The User Group Telephony System, according to a statement…

 *Emerged second worst performing stock in 2016 Stock price of Caverton Offshore Support Group Plc has recorded a 90.52 per cent drop in value since it was quoted on the floor of the Nigerian Stock Exchange (NSE) in May 20, 2014, costing shareholders of the company about N28.814 billion of their wealth during the period under review. Caverton Offshore Group, a leading oil and gas service firm providing marine and aviation logistics, had increased market…

Nigerian flag carrier airline, Arik has been suspended from the International Air Transport Association (IATA) Billing and Settlement System (BSP).   The clearing house for over 250 global airlines said it is currently working with the new management of Arik Air to resolve the problem.   IATA Area Manager, South West Africa, Dr, Samson Fatokun in a statement made available to Woleshadare.net disclosed that the airline’s suspension from the IATA financial systems does not affect…

*NEMA, IOM in race to evacuate trapped victims   *Dabiri-Erewa seeks tough sanctions for traffickers It was gnashing of teeth for the 171 Nigerians that returned to the country amid the ordeal they went through in Libya. Emotions ran high as some of them broke down in tears as they recounted what they went through. The number of 171 returnees brings to 332 the number of Nigerians who were brought back to the country in the…

Nigerian airlines’ problems are multifaceted. Virtually all the airlines lack proper corporate governance, which has led to their demise, WOLE SHADARE writes   The Nigerian airline industry defies any known solution. The problems are huge with no hope in sight of rescuing the airlines. They keep on going under years after showing some element of promise. The take-over of Arik penultimate week by the Asset Management Corporation of Nigeria (AMCON) shows that until airline managers…

*Operators lament Airline operators have raised concern that their operations are been stifled by manipulation, feasting and pushing of their finances through multiple taxes, charges and levies to the extent that they have come under pressure and could go bankrupt. These taxes, they alleged, are up by between 35 and 40 per cent. The operators under the aegis of Airline Operators of Nigeria (AON) also disclosed that Nigerian airlines pay over N10 billion on taxes…

Emirates, has appointed Afzal Parambil, as its Regional Manager for West Africa.   Prior to taking up his new appointment, Mr. Parambil served in a number of commercial roles within Emirates, the most recent being the Country Manager for Ethiopia.    Congratulating Mr. Parambil on his new position, Orhan Abbas, Emirates Senior Vice President Commercial Operations for Africa, said: “Nigeria is a very important market for Emirates and we are delighted that Mr. Parambil will serve as the…

Stellwagen Group (‘the Group’) have confirmed that Stellwagen Finance Limited (‘Stellwagen Finance’) were awarded two top industry awards ‘Aircraft Finance Innovator of the Year 2016’ and ‘Aircraft Debt Deal of the Year – Africa -2016’ at the Global Transport Finance Awards ceremony in London recently.    The Global Transport Finance Awards are the annual prestigious awards for leading transport finance bankers, leasing companies and law firms.  The Awards are presented to the best deals in the…