Nigeria’s Aviation News Headlines for Thursday August 18, 2016

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Aviation is a Catalyst for any Economy to Grow –Nogie Meggison

 

For more than three months, the aviation sector has been grappling with the scarcity of aviation fuel, resulting to incessant delays and cancellation of flights. This has also resulted to loss of revenue for airlines. In this interview with Businessday, the President of Airline Operators of Nigeria, (AON); Nogie Meggison,discusses on effect of aviation fuel scarcity and price increase on airlines and the solutions to the problem. He also talks on how to make aviation a catalyst for economic growth.
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Murtala Muhammed International Airport, Ikeja, Lagos photo credit: google.com

 

What is the situation of JETA1 at the moment after you called on the federal government to intervene months back?

It is sad and pathetic that for the past three months now, we have been experiencing epileptic fuel supply. The fuel supply is affecting airlines in different ways.

It is making us delay our flights and not being able to provide services for our clients. Almost 50 percent of our flights are being delayed.

 A businessman comes to the airport for 9’0’clock flight and departing at four. Most of them go back and those that go may eventually miss their meetings. There is also lost of revenue.

This is inconveniencing the passengers who have limited disposable incomes and are finding others sources of transportation. People can transact using the internet or they can travel using the night bus than coming to sit at the airport,

waiting for flights.

https://businessdayonline.com/aviation-is-a-catalyst-for-any-economy-to-grow-nogie-meggison


FIRS Seals Off Skyjet Aviation Services Limited In Kaduna

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The Federal Inland Revenue Services (FIRS) ‎tax enforcement team on Wednesday sealed off the operational office of the Skyjet Aviation Services limited located at the Kaduna International Airport over Company Income Tax (CIT) and Withholding Tax (WIT)
default.
The legal officer of FIR enforcement team in charge of Kano and Kaduna states, Umar Bukar Gana, who led the enforcement team to seal the aviation company, said they were acting on warrant of distraint following an outstanding tax liabilities being owed by
the company.
According to him, “Skyjet Aviation Services Limited is owing an outstanding liability to the sum of N‎178,475,209.34 being CIT and WHT effective from 2010-2015.”
http://leadership.ng/news/546516/firs-seals-off-skyjet-aviation-services-limited-in-kaduna



Row over Retirees ‘eviction from FAAN Quarters(Nation)
Plans by the management of the Nigerian Airspace Management Agency (NAMA), to evict retirees living in the Federal Airports Authority of Nigeria ( FAAN) quarters, Ikeja, Lagos has sparked a row.
Crisis is brewing among residents of the Federal Airports Authority of Nigeria (FAAN) quarters in Ikeja, Lagos as plans by the Nigerian Airspace Management Agency (NAMA) to evict a former Director in-charge of Safety and Eletronic
Services, Godfrey Eze; an engineer, as well as former General Manager, Administration, Alhaji Kolawole Moshood Jimoh, are generating misgivings.
Residents now live in fear as the quarters, also known as Strabag Estate, is becoming a battle ground between thugs allegedly hired by NAMA to  evict the retirees, who insisted that the agency had no proprietary right to evict them until all
pending legal and administrative issues are resolved.
Last week, a  battery of Nigerian Air Force (NAF) personnel belonging to Operation MESA was drafted to the quarters to dislodge thugs allegedly brought in by NAMA to enforce an order of eviction secured by the agency.
http://thenationonlineng.net/row-retireeseviction-faan-quarters



High Lending Rate Rattles Manufacturers, Cripples Business Growth (Daily Trust)

Manufacturers are rattled that banks lend finance at over 20 per cent interest, a development that has crippled business growth in the sector.
Recently, the Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR), which is the interest rate benchmark for lending by 200 basis points - from 12 percent to 14 percent.
The latest development further pushed up banks’ interest rates to above 20 per cent, a rate which the Kaduna State Governor, Nasir el-Rufai, recently said only drug dealers and traders can afford to do business with.
The Manufactures Association of Nigeria (MAN) is worried that the issue of funding remains a challenge to the manufacturing sector and commercial banks are currently not helping matters.
The President of MAN, Dr Jacobs Udemba, said the current situation where manufacturers pay double digit interest rate is not manufacturing-friendly.
“The banks are not manufacturing friendly as their interest rates are usually very high and therefore remain a major challenge to the sector,” he said.
Udemba also faulted the recent lending rate framework of the Bank of Industry (BOI) because the framework only financed machinery acquisition and did not cater for working capital.
“This notwithstanding, MAN is pleased with Bank of Industry for funding of machinery, even though there is need for improvement,” he had said.
As a way out, MAN wants government to pay attention to the manufacturing sector and continue to play its role as wealth and employment generator.
“Government should continue to consult manufacturers especially on policy issues,” the president said.

http://www.dailytrust.com.ng/news/business/high-lending-rate-rattles-manufacturers-cripples-biz-growth


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