Uncategorized

United Chairman Seeks Special Forex Window For Airlines

Published

4 years ago

February 16, 2021

by Wole Shadare

Chairman of United Nigeria Airlines, Mr. Obiora Okonkwo, has called for a special window where airlines can access foreign exchange to solve myriads of issues. He lamented the difficulty in accessing FOREX, which he said was capable of frustrating airline business in Nigeria.

According to him, owing to this, domestic carriers are finding it difficult to acquire spares, carry out maintenance of their aircraft, pay for technical training of personnel and lease aircraft.

His words: “Moving forward, the issue of foreign exchange sourcing and processes; there must be a special window for the airlines because today, if the bidding process goes through the banks bi-weekly, that is every two weeks, you have already spare parts to pick immediately and you wait for two weeks to go to the bidding and then you need $100,000, you get $10,000.”

“There must be a special funding process to support the airline business because almost 99 and half percent of volume need to be paid, airplanes fly, they are all important, and your ticket sales are in Naira. You are not even allowed by the policy to receive payment in foreign currencies. So, I really think that a lot has been done but more can be done to make it better,” he added.

Foreign exchange still remains a big problem for airlines in Nigeria. That single component can cause an airline to go under. Airline operators have discussed the issue of the foreign exchange and availability and the rate extensively at many fora.

They have argued that even if they have capacity, increase and everything; if the dollar keeps rising or if the airlines cannot access foreign exchange, it will hinder their growth, it will also increase the ticket price.

There is nothing that is done in aviation that is not dollar-related. That means whenever there is a spike in the exchange rate, it will translate into a spike in either the spare parts they are buying or the consumables they are buying or whatever they are buying because the aviation industry is dollar related.

If they do not have access to the dollar, it affects them, because if they leased aircraft or leased engines or leased landing gears, they are paying definitely in dollars.

He further reiterated that local airlines would only survive if the federal government provides foreign exchange for them, stressing that the sourcing of foreign exchange from autonomous markets at N480 to a dollar, noting that, “even if you go there, you might find it difficult to find the dollar.”

He attributed one of the reasons for airlines’ failures to wrong perception and not necessarily because of business plans, adding that the sector needs so much support and policies to support airline business.

Okonkwo admitted that a whole lot still has to be done from all sectors including friendly government policy, regulatory, describing it as a very sensitive industry that is very important for trade, movement of people and an important sector to the Gross Domestic Product (GDP) to the economy.

“It is a good source of government revenue, it should be given greater attention than it’s given now. It should be treated more kindly than it’s being done now. I think there is a better opportunity, a better platform for me to use the experience I have gone through in this process probably to add to the policy advice.

“They have to look at the support system. You know COVID-19 affected airlines very badly all over the world. Countries supported their airlines to remain in business. There have been announcement made I don’t know of anybody who have accessed that, it is a very serious issue to be out of business for many months.”

Uncategorized

No Payment for Constituency Projects Executed Without FG Guidelines – AGF

Published

2 days ago

May 16, 2025

Sunrise

The Office of the Accountant General of the Federation (OAGF) has vowed to withhold payment for constituency projects executed nationwide that do not follow the Federal Government’s guidelines and circulars on execution.

The Accountant General of the Federation (AGF), Mr. Babatunde Ogunjimi, made this known when the Permanent Secretary of the Federal Ministry of Special Duties and Intergovernmental Affairs, Mr. Onwusoro Maduka Ihemelandu, visited him in Abuja.

Ogunjimi reaffirmed the support of the Office of the Accountant General of the Federation (OAGF) for the campaign by the Federal Ministry of Special Duties and Intergovernmental Affairs to enforce compliance with government guidelines and circulars on execution and payment for constituency projects.

“We will give bite to these guidelines; we will ensure that these guidelines are projected adequately and that they become part of the prerequisite documentation for all constituency projects,” the AGF said.

He noted that the guidelines on constituency projects will be made an important part of discussions at all OAGF engagements with its stakeholders and that the Ministry of Special Duties and Intergovernmental Affairs will be given the opportunity to make presentations at such occasions.

Ogunjimi stated further that in OAGF circulars on closure and capital projects, emphasis will be made on compliance with the guidelines on constituency projects.

He advised the Ministry of Special Duties and Intergovernmental Affairs to continue the engagement with relevant government agencies, stakeholders, and the National Assembly to increase awareness of the guidelines and circulars.

Speaking earlier, the Permanent Secretary in the Federal Ministry of Special Duties and Intergovernmental Affairs, Ihemelandu, requested that no payments should be made for constituency projects that are not executed in line with the Federal Government guidelines and circulars and duly certified by his ministry.

The permanent secretary observed that despite the federal government’s guidelines and circulars, many agencies have executed and paid for constituency projects without adherence to the guidelines and circulars and due verification. According to him, this practice does not allow the government to get maximum value for the funds spent on these projects.

Ihemelandu called for collaboration between his ministry and the Office of the Accountant General of the Federation (OAGF) to guarantee that the guidelines are implemented fully and no payments are made for constituency projects unless after verification by his ministry.

Uncategorized

TINUBU EULOGISES ARCHBISHOP JOHNPRAISE DANIEL AT 65

Published

2 weeks ago

May 3, 2025

Sunrise

By Ojone Grace Odaudu

President Bola Tinubu has congratulated Archbishop Johnpraise Daniel, the presiding Bishop of the Dominion Chapel International Church, on his 65th birthday on May 2.

The President has also commended Archbishop Daniel’s contributions to nation-building, peace and unity in his current role as Chairman of the Pentecostal Bishops Forum for 19 Northern States and the Federal Capital Territory.

In a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the President also nnoted his active participation in the Christian Association of Nigeria (CAN), the Nigeria Inter-Religious Council (NIREC), and the Interfaith Advisory Committee Against Corruption.

Tinubu further acknowledged the Archbishop’s mentoring of ministers of the Gospel and his humanitarian efforts through the JohnPraise Foundation for Peace and Human Development.

He specifically eexpressed his appreciation for the Archbishop’s inspiring sermon, “Better Together in Renewed Hope and Restoration,” delivered during the 2023 Presidential Inauguration Service.

“Archbishop Daniel’s life has been one of faithful service in the Lord’s vineyard, marked by unwavering dedication, scholarship, and impactful ministry across Nigeria and beyond”, President Tinubu said, praying for continued strength, wisdom, and divine grace for the cleric as he advances moral leadership in society and spiritual guidance to the faithful.

Environment

Kogi Professionals Applaud Lawmaker’s Bold Move to Regulate Mining in Omala

Published

3 weeks ago

April 30, 2025

Sunrise

By Elizabeth Okwe| April 30, 2025

In what many have described as a timely and courageous step, Hon. Yahaya Umar, the lawmaker representing Omala State Constituency in the Kogi State House of Assembly, is receiving accolades for raising the alarm over the environmental and public health crisis caused by coal mining in his constituency.

The motion, which called for an immediate suspension of all mining activities in Omala Local Government Area, has drawn commendation from across the state — most notably from the Convener of the Kogi Professionals Network and seasoned development administrator, Dr. James Odaudu.

Reacting to the motion, Dr. Odaudu described Hon. Umar’s action as “a courageous stand in defence of environmental justice,” saying it was refreshing to see a legislator so passionately defending the health and welfare of his constituents.

According to him, “These mining companies were licensed to support Nigeria’s electricity development goals, yet instead of power, they have brought pollution, contaminated rivers, and destroyed farmlands in host communities.”

He praised the Kogi State House of Assembly for backing the motion and setting up an ad-hoc committee to investigate the matter, describing it as “how democracy is supposed to work — responsive and people-centered.”Dr. Odaudu, in a statement on Wednesday in Abuja, also issued a passionate appeal to the Government of Kogi State to move swiftly beyond legislative action and implement practical relief measures for affected communities.

Dr. James Odaudu
Convener, Kogi Professionals Network

“We urge the State Government to begin immediate clean-up of polluted water sources in Omala and surrounding areas, while putting in place a sustainable plan to provide potable water as a long-term solution,” he stressed.

He further emphasized the need for mining companies operating in the state to honor their corporate social responsibilities and sign enforceable Community Development Agreements (CDAs) with the local government administrations in line with global best practices.

“Profiteering must not come at the expense of our people’s lives and their future, We trust that the government of Governor Usman Ododo will do the needful as usual ” Dr. Odaudu added.

The coal mining controversy in Omala and other parts of Kogi State has stirred increasing public concern, with calls for stronger regulation, corporate accountability, and community protection gaining momentum.