The report that the growth of Nigeria’s local aviation with the potential to earn $14.16 billion in revenue and contribute five per cent of the Gross Domestic Product (GDP) yearly is one of the trending stories in Nigerian newspapers on Friday.
The Guardian reports that the Minister of Aviation, Hadi Sirika, has said that the current administration has laid the groundwork for the growth of local aviation, with the potential to earn $14.16 billion in revenue and contribute five per cent of the Gross Domestic Product (GDP) yearly.
Sirika, at the inauguration of the Murtala Muhammed International Airport (MMIA) terminal-two, Lagos, said a series of interventions carried out in the last seven years in the area of policy and infrastructure had repositioned local aviation.
He noted that when the present administration came into power in 2015, the aviation industry experienced major challenges, some of which were unemployment of professionals, scarcity of foreign exchange, budgetary constraint, sustainability of waiver on aircraft and spares, decaying and ageing infrastructure and obsolete equipment, poor and intolerable conditions of airport facilities and equipment, as well as blocked airline funds.
He explained: “We have been working to reduce them to the barest minimum. Consequently, the aviation roadmap was developed and graciously approved by Mr. President on October 18, 2016, which includes, the national carrier, airport concession, Maintenance , Repair and Overhaul Centre (MRO), Aviation Leasing Company, Agro-Allied Cargo terminals, as well as Aerospace University, and so on.
“The roadmap projects are being undertaken through Public Private Partnership (PPP) and the Ministry has been working very closely with Infrastructure Concession Regulatory Commission (ICRC) to ensure we have a credible and transparent process,” Sirika said.
The newspaper says that after two postponements and horse-trading that almost derailed the process, the ruling All Progressives Congress (APC) is now set to hold its national convention.
The Eagle Square, venue of the party’s convention is agog, as party leaders and delegates gather to elect new members of the National Working Committee (NWC) that will pilot its affairs for the next four years.
The Square, which wears a new look, will host no fewer than 12,000 delegates that will participate in the elective convention, where sixty-six party officials, including 21 NWC members would be elected.
Itinerant traders were seen yesterday, positioning themselves to make brisk business while there was heavy presence of security personnel, monitoring entry and exit posts.
The convention, which is a precursor to the conduct of primaries for candidates of the party, has a direct bearing on the fortunes of the party in the 2023 general election.
Members of the Governor Abdullahi Umar Ganduje-led protocols subcommittee were sighted putting finishing touches at the settings.
In a statement the party said: “The CECPC has declared that all political appointees, who were elected as delegates to the National Convention slated for March 26 shall not vote in view of the controversy surrounding Section 84 (12) of the Electoral Act, 2022.
The Punch reports that the total value of Nigeria’s crude oil stolen between January 2021 and February 2022 is about $3.27bn (representing N1.361tn at the official exchange rate of N416.25 to the dollar), the Federal Government declared on Thursday.
International oil companies and their counterparts in Nigeria said the massive oil theft across the country currently posed a threat to not just their existence, but to the Nigerian economy.
The Federal Government through its Nigerian Upstream Petroleum Regulatory Commission, met with the Oil Producers Trade Section, as well as the Independent Petroleum Producers Group in Abuja at a stakeholders’ engagement on crude oil theft.
OPTS is a body comprising IOCs operating in Nigeria, while IPPG is an association of indigenous exploration and production companies.
A presentation by the NUPRC at the event indicated that oil theft rose sharply between 2021 and 2022, as an official of the IPPG stated that about 91 per cent of total crude produced at the Bonny Terminal was stolen in January 2022.
In its report on the trend in oil theft, the NUPRC said, “Total value loss for the period January 2021 to February 2022 is about $3.27bn.
“Average monthly value loss for the period is about $233.99m. Average daily value loss for the period is about $7.72m.”
It added, “Losses are mainly from Bonny Terminal Network, Forcados Terminal Network (and) Brass Terminal Network.”
The commission outlined factors that aided crude oil theft to include inadequate security, poor community engagement, economic challenges, poor surveillance, stakeholder compromises and exposed facilities.
The newspaper says that the Chief Executive Officer of CLG Securities, Adeniran Aderogba, says discussions are ongoing on securing funding for a national shipping carrier for Nigeria.
Aderogba also said the activities of CLG Securities had made the Presidency and the Ministry of Transportation show renewed commitment towards reviving the plan to create Regional Maritime Development Bank.
According to him, CLG Securities is the Transaction Adviser on the Regional Maritime Development Bank.
The expert decried that the maritime sector had suffered neglect for a long time, despite its ability to generate foreign exchange, create jobs and stimulate the economy.
Speaking on the importance of the proposed development bank, Aderogba said, “The Regional Maritime Development Bank is the brainchild of member countries of the Maritime Organisations of West and Central Africa, which comprises 25 countries.
Having identified the need to promote indigenous participation and harness the potential of what is an estimated $100bn per annum maritime sector, Heads of States passed a resolution in 2009, to set up the bank and mandated Nigeria to not only host the headquarters of the bank but also take all steps to midwife the bank.”
“I served on an inter-ministerial committee charged with the responsibility of bringing the bank to fruition and regrettably, changes in government stalled the process.
“However, a few years ago, CLG Securities approached the current administration to revive the project and we have received excellent cooperation from the Presidency, the Honourable Minister of Transport, and MOWCA itself.”
The Nation reports that issues of Right of Way (RoW) resolution have stalled some 32 power transmission projects, worth $137 million, the National Economic Council (NEC) was told yesterday.
Gombe State Governor, Inuwa Yahaya, disclosed this to State House Correspondents after the month’s virtual NEC meeting, which was presided over by Vice President, Professor Yemi Osinbajo.
According to him, Minister of Power, Engr. Abubakar Aliyu, briefed the NEC on the situation, adding that the situation contributed to the recent crash of the national grid.
“A key observation came up that needs urgent attention is the issues ROW that has hampered billions of naira of transmission projects that are meant to strengthen and expand the grid.
“Most of these projects are stalled or delayed because of gaps in implementation of RoW resolutions that state governments are responsible for.
The newspaper says that the Federal Government (FG) plans to deploy measures to reduce wheat importation into the country.
This is coming on the heels of the possible shortage of wheat supply in the country, as a result of the current Russia-Ukraine conflict.
Government said it anticipated that shortfall of wheat supply in the country can be bridged by research conducted by the Federal Institute for Industrial Research Oshodi (FIIRO).
The research innovation produced bread of comparable quality with 20 per cent substitution of cassava flour for wheat.
Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu who made the recommendation said Nigeria can make a substantial amount of savings through the reduction of import.
He said this yesterday in Abuja, at the closing ceremony of the 20th meeting of the National Council on Science, Technology and Innovation (NCSTI).
GIK/APA