Innoson Keeps Our Jets In Operation Against Boko Haram

Innoson Keeps Our Jets In Operation Against Boko Haram


Nigeria’s Chief of the Air Staff (CAS), Air Marshal Sadique Baba Abubakar has lauded the management of Innoson Vehicle Manufacturing (IVM) Company for providing the needed technical support that has enabled the Nigerian Air Force (NAF) to sustain its operations against the Boko Haram insurgents.


Group Captain Ayodele Famuyiwa, Director of Public Relations and Information of Nigeria Air Force, said in a statement on Wednesday that the CAS gave the commendation while receiving the Chairman IVM, Mr Innocent Chukwuma and team members in his office.


The military chief had during the meeting noted that at a time when the NAF would have been forced to ground its entire fleet of Alpha Jets due to lack of brake assembly, IVM helped to locally modify and overhaul the brake assembly of the MB-339 aircraft for adoption on the Alpha Jets.


“This ingenious effort by IVM is instrumental to the continued operation of the Alpha Jets, and had helped to save the day when help was not forthcoming from abroad,” Abubakar was quoted as telling his guests.


Abubakar stated that the feat not only saved the country huge foreign exchange that otherwise would have been spent abroad but also added value to Nigeria through provision of job opportunities.


The Air Chief noted the contribution by IVM deserves national recognition and award, given the important role played by the Alpha Jet in the ongoing counter-insurgency operations in North-east Nigeria.


“The collaboration between the NAF and IVM is in line with one of the key drivers of the CAS vision which is “strategic partnership with ministries, departments and agencies for enhanced research and development,” said the CAS.


He added that beyond the feat, the NAF is poised to exploit the possibilities of mass producing the Alpha Jet break assembly and other parts locally through partnership with IVM, as well as other credible organisations, to build own capacity for enhanced self-reliance.


The invitation of IVM team to the Headquarters Nigerian Air Force, according to him, was for further discussions based on this premise.


He expressed the willingness by NAF to expand the scope of its existing research and development collaboration with IVM.


“Our partnership with IVM would not end with the Alpha jet break assembly but a leeway to forge new frontiers, through research and development, to replicate some of the spares needed by our platforms,” the CAS said.


In his response, the Chairman of IVM expressed the readiness of his company to partner with the NAF to help manufacture some of the spares needed to keep its aircraft operational locally.


Chukwuma noted that such synergy as existing between the NAF and IVM would help to reduce the dependence on foreign technology while promoting self-reliance, as well as technological and economic development.


He disclosed that his company has the expertise to locally manufacture and assemble a number of automobile products that would be of benefit to the NAF.

Finance minister says 23,000 ghost workers were discovered in civil service

Finance minister says 23,000 ghost workers were discovered in civil service



The minister of finance, Kemi Adeosun revealed that 23,000 ghost workers were discovered in the federal civil service.


Daily Post reports that Adeosun said the ghost workers will be handed over to the Economic and Financial Crimes Commission (EFCC).


She made this revelation while addressing, the Senate committee on Finance, during her budget defence session.


Adeosun also said banks that worked with the civil servants to defraud the government will also be prosecuted.


She said “We will not only sack them, we will ensure the recovery of the money they have been collecting over the years from the Federal government.”


The finance minister also said Nigeria's decision to collect government payments in one bank account will help limit state borrowing, reduce payment delays and curb corruption.


During the visit of the International Monetary Fund (IMF) boss, Christine Lagarde Adeosun also said Nigeria plans up to $5 bln borrowing from sources including Eurobonds.


The minister has also hinted that the government was working on the introduction of performance-related pay for the Nigeria Customs Service (NCS), to motivate improved revenue collection and reduce corruption.

Buhari has plunged Nigerian economy into recession says Utomi

Buhari has plunged Nigerian economy into recession says Utomi


The possibility of the Nigerian economy plunging into recession in 2016 is not in doubt, going by the poor economic policy direction of President Muhammadu Buhari. Professor Pat Utomi has maintained.

As crude oil prices dive lower, threatening to dip below $30 a barrel for the first time since the financial crisis of 2008, commodity economies around the world are catching a cold.

The collapse of oil price is already taking its toll on the Nigerian economy. As it stands, there is no light at the end of the tunnel yet. Nigeria’s situation is further worsened by the current government’s delay in enacting sound fiscal and monetary policies.

Investors across the world are losing their investments in stock and property owners are also suffering losses as a result of depreciation in currencies.

The Naira is currently under intense pressure, the situation has depleted Nigeria’s foreign exchange reserves, with policy makers now left with a difficult decision to make: either allow the currency to move in a wider range against the dollar or raise interest rates.

However, the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has promised to stabilize the Naira without devaluing the currency.

President Muhammadu Buhari has also backed the CBN’s monetary policies, which have raised questions about its sustainability.

Two former Central bank governors, have disapproved the current policies initiated under Buhari, aimed at amelioration the situation. They have both called for more flexibility in the management of the country’s currency.

Amechi says he is discussing with President Buhari on national carrier

Amechi says he is discussing with President Buhari on national carrier



The Ministry of Transport says it has commenced discussion with President Muhammadu Buhari to ensure that the nation has a national carrier.


The Minister of Transport, Mr Rotimi Amaechi, made the disclosure on Tuesday in Abuja while defending the 2016 budget of the ministry before the Senate Committee on Aviation.


"I do not want to say much on the national carrier because the ministry is still discussing with President Muhammadu Buhari.


"The national carrier we are working on will not be like Nigeria Airways.


"A lot of investors are interested, so the government will not be fully involved but will provide policies,’’ he said.


Amaechi said that the ministry would soon commence `extensive audit’ of the renovation of the nation’s airports carried out by the past administration.


He said that the ministry was poised to ensure that the aviation industry was better positioned to meet international standards.


The minister also said that the ministry was working on expanding the runways of the airports to ensure safety of passengers.


He assured the committee that the 2016 budget would bring about the desired change in the aviation sector, when passed.


The Chairman, Senate Committee on Aviation, Sen. Hope Uzodinma, said that the deplorable state of the nation’s airports called for concern.


He urged the minister to ensure that adequate steps were taken to reposition the nation’s airports.


The lawmaker, however, observed that the ministry included some projects contained in the first phase of the airport remodeling in the 2016 budget when work was almost 99 per cent completed.

NLC opposes electricity tariff hike

NLC opposes electricity tariff hike




THE Nigeria Labour Congress’ (NLC) Central Working Committee has rejected the 45 per cent upward review of electricity tariff, demanding that pre-paid meters be made available free to electricity subscribers.

The congress warned against the planned reintroduction of toll gates on federal highways, saying proceeds from the toll gates in the past were never put to judicious use, but used to “line the pockets of individuals”.

In a communique at the end of its emergency meeting in Abuja, the NLC said increasing electricity tariff at this point in time with the challenges in the economy, which, it added, have adversely reduced the purchasing power of ordinary Nigerians and slowed down businesses, was not justifiable.

The committee said electricity distribution companies have continued to exploit Nigerians through estimated billing systems for the majority of consumers, while deliberately refusing to make pre-paid meters available.

The communique, which was signed by the NLC President Ayuba Wabba and its General Secretary, Dr. Peter Ozo-Eson, said: “It is clear, therefore, that the 45 per cent tariff increase is an additional heavy burden on consumers and will have a telling effect on business, especially manufacturing.”

It noted “the enormous public resources expended in the past on the construction and demolition of toll gates” and added that “the proceeds from toll collection were never effectively deployed for the maintenance of roads, but lined the pockets of favoured collectors”.

The NLC said it was convinced that proceeds from any new toll collections would suffer the same fate and stressed that it “disagrees with the planned” the fresh plan..

On the issue of the N18,000 minimum wage, the congress said: “There have been discordant tunes from state governors on the issue of the National Minimum Wage.  Whereas, at one moment, they deny that there are plans to reduce the minimum wage, at another moment, they threaten to sack workers or reduce the minimum wage.

“The National Minimum Wage of N18,000 has been rendered valueless by the mindless devaluation of the Naira and  rising inflation.  Moreover, it is legally due for a review.

“It is a national law, which no governor can unilaterally review. In the light of the above, the CWC resolved to oppose any attempt by any governor to reduce or tamper with the minimum wage and mobilise all members of the congress to any state that reviews downward the minimum wage or resorts to laying off workers.”

Emefiele unveils plans to stabilize Naira as TSA savings hit N2trillion

Emefiele unveils plans to stabilize Naira as TSA savings hit N2trillion


The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefeile has disclosed efforts to stabilize the naira adding that cumulative savings from the operation of Treasury Single Account has hit N2trillion, about $10 billion.
The apex bank Governor made the remark at an Interactive Session with Media Editors in Abuja.
“Don’t ask me because I will not disclose our strategy for now’’; as he declined to give details of the measures and modalities for their implementation.
He said, the Nigerian economy is not bad when compared with other economies in Africa.
He advised importers to restrict their imports to raw materials and equipment rather than finished products and food in order to reduce the pressure on the nation’s scarce foreign exchange.
‘’CBN will soon start a nationwide campaign to sensitise Nigerians to items excluded from importation. This is part of efforts to save more foreign exchange and stabilise the nation’s currency.
‘’The solution to free fall of the naira is by controlling the demand for foreign currencies such as the dollar. If we are able to reduce importation, the demand for the dollar will fall automatically.’’
Emefiele said the country should go back to the farm to produce what was needed.
“Public servants should also engage in farming because the only business public servants are allowed to engage in is farming. And you don’t need power to farm tomato, vegetables or fish’’, Emefeile said.
He blamed unscrupulous businessmen who engaged in illicit activities for exerting intense pressure on the dollar and other currencies.
According to him, the apex bank has ensured reasonable stability in the value of the naira by keeping official exchange to the dollar between N196 and N197 to the dollar.
Emefeile advised Nigerians to always approach their banks for their request for foreign exchange at the official rate as against patronising the black market operators.
‘’CBN does not have plenty dollars to sustain the bureau de change’’, he stressed.
The CBN boss, however, insisted that the 22 per cent depreciation of the naira was reasonable when compared with other emerging economies adversely affected by global economic recession.
‘’Zambia, for example, has depreciated its currency by about 48 per cent, Angola by 25 per cent while Brazil depreciated its currency by about 48 per cent from October last year till now. Our situation is not as bad as people think. When you devalue, there must be a structural adjustment. We have never followed up with structural adjustment.
‘’So, the approach we are adopting at the moment is that, having done a 22-per cent adjustment in the currency, let us structurally adjust our position. Let us say, look, stop importing rice; stop importing toothpick; stop importing tomato from South Africa; stop importing 20 million eggs daily from Africa.
‘’That’s the gist of what we are saying. We are saying Nigeria can do without these items. And the truth is that the reserves are no longer there.’’
Emefeile said CBN had created the enabling environment to encourage the growth of small scale businesses through the grant of soft loans to small business operators.
He said only N60 billion of the more than N200 billion soft loans meant for SMEs had been accessed so far.
He urged Nigerians to be patient with the Buhari administration in its efforts at easing the sufferings of Nigerians.

Drama at Bauchi Airport as Aero uses ladder to disembark 34 passengers

Drama at Bauchi Airport as Aero uses ladder to disembark 34 passengers




Amild drama unfolded yesterday at the Bauchi Airport when passengers used ladder to disembark from a chartered aircraft belonging to Nigeria’s oldest carrier: Aero Airlines.

It was learnt that the aircraft had problems with unserviceable equipment by the airport management in disembarking about 34 passengers from Abuja Airport.

The use of ladder to disembark passengers a source hinted is against standard aviation practices as prescribed by the International Civil Aviation Organisation (ICAO) on passenger facilitation.

According to the airline, at the time the 34 passengers were boarding the chartered flight at the Abuja Airport, the air stairs was functional.

The airline confirmed the incident in statement by SY & T, media consultant to the Aero Contractors. It explained “A special charter flight operated by Aero to Bauchi had problems with unserviceable equipment by the airport management in disembarking about 34 passengers from Abuja. Consequently against the airline’s wish and operation safety guideline, the passengers used a ladder to disembark.”

“Aero wishes to state that it took adequate and safety measures for this operation, including the airport’s ground staff crew to handle the air stairs equipment in Bauchi, unfortunately it became unserviceable at the point of disembarkation.

“Although the airline crew tried to calm down the passengers to wait while the equipment was being fixed, the passengers insisted on their own volition to disembark against all safety protocol of the airline”, the airline stated in the statement
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