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Osubi airport records improved revenue, passenger traffic

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  L-R: The Managing Director, Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kuku, The Chairman of Nigeria Aviation Awards, Fortune Idu and The Osubi Airport Manager, Mr Winston Egwuatu. DELTA - A total of 124,000 passengers were processed by the management of the Osubi airport, Warri, Delta state between January and June 2024. Just as 2,051 aircraft movement were recoded during the same period. Mr Winston Egwuatu,  Osubi airport manager who disclosed this at the just concluded Aviation Business Summit and Expo 2024 in Lagos said, passengers traffic has drastically improved since they took over the running of the airport in  March 2021. Revenue generation at the airport between January and June 2024 was N831,37 comprising aeronautic and non-aeronautic sources  Egwuatu, said revenue collection performance stood at N731.39 between January and June this year, while total expenditure for the same period stood at N676.64 Egwuatu noted that Osubi airport, as a Public Private Par
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FG records huge revenue loss to illegal PNCF operators annually

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  LAGOS - The Ministerial Task Force on Illegal Private Charter Operations and Related Matters in its preliminary findings disclosed that Nigeria records huge losses in revenue to illegal permit for non commercial flights, PNCF, operators on a yearly basis.  The Chairman of the Task Force, Capt. Ado Sanusi disclosed this on Friday, while speaking with aviation journalists in Lagos. Sanusi also said that the taskforce established the fact that indeed, some high net worth individuals in Nigeria use private jets for commercial services, an illegal conduct that has persisted for more than 20 years. According to Sanusi, there are indications that some Flight Plans are filed without getting to their destinations and that there are Air Operators Certificate (AOC) holders who collaborate with illegal PNCF operators to perpetuate the act. Sanusi had said that  the case of illegal PNCF operations is not peculiar to Nigeria, the intention was to bring it down to the lowest level. "I do not
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NGOs seek whistleblower law to protect women, PWDs

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By Deborah Akpede LAGOS - Some Non Governmental Organisations (NGOs) have called on the Federal Government to enact a whistleblower protection law to protect women and People With Disabilities (PWDs) who expose corruption and other wrongdoings in the interest of the public. They made the call at a workshop with the theme: “The importance of women and people with disabilities in promoting whistleblowing and whistleblower protection”, on Thursday in Lagos. The workshop was organised by African Centre for Media and Information Literacy (AFRICMIL) in conjunction with Wole Soyinka Centre for Investigative journalism (WSCIJ) and supported by MacArthur Foundation. The Coordinator of AFRICMIL, Dr Chido Onumah, in his address, described a whistleblower as any individual who provides the right information to the right people. “Whistleblowing is one of the most effective methods of exposing corrupt acts and fostering accountability in the internal management of organisation. “Over the years, we h
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Lagos Aviation Academy expands to bridge training gap

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  LAGOS - The Lagos Aviation Academy (LAA), on Tuesday, unveiled a two-story building to bridge training gap in the aviation industry. The News Agency of Nigeria NAN) reports that the academy, a subsidiary of Finchglow Holdings, trains aviation professionals for successful careers in the industry. It is located on Toyin Street, Ikeja. The Group Managing Director of Finchglow Holdings, Mr Bernard Bankole, said at the unveiling that development of a country or an organisation would require adequate education of the workforce. Bankole said that it had become necessary to add value to the aviation industry. According to Bankole, the LAA had, in seven years, graduated more than 2,000 aviation professionals. He expressed the hope that, with the new building, more professionals would be trained. He said that training schools in Nigeria were in short supply compared to the nation’s population. “We have finally come to a befitting place for the academy. “This is to set the record and the
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Experts charge youths on skill acquisition, innovativeness

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  By Rukayat Moisemhe LAGOS - Some experts have advised young entrepreneurs to develop their skills and be  innovative to grow their businesses. They gave the advice at a career and entrepreneurship workshop organised by the boys and girls brigade of Wesley Chapel, Lekki, recently in Lagos. The Group Managing Director of Dipson Group, Mr Oladipo Bakare, stated the need for young entrepreneurs to have the right knowledge and tools  to drive their businesses. According to him, businesses must advertise, create the right brand, package product distinctively and restructure when necessary. He emphasised the need for business owners to acquire knowledge and have the   right mental attitude to create the right impression and engender sustainability. He added that business registration and the right accounting system were important. Bakare said that young businessmen and women  should be able to take advantage of  every situation to develop their businesses. “Nigeria of today shows that it h
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Coronation Merchant Bank Records 62% Growth in Gross Earnings to ₦61.6bn in 2023

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Convenes 9th Annual General Meeting Lagos, Nigeria. June 21, 2024 - Coronation Merchant Bank recently held its Annual General Meeting at Victoria Island, Lagos, reflecting on a year of remarkable financial recovery and strategic advancements.  The Bank reported robust financial performance for the fiscal year ending December 31, 2023, showcasing significant growth in key metrics despite a challenging economic environment. Financial Highlights • Gross Earnings: N61.6 billion, a 62 percent increase over 2022 • Profit Before Tax: N3.47 billion, marking a significant recovery from a loss in 2022 • Shareholders’ Funds: 16.5 percent increase to N37.33 billion (Dec 2022: N31.99 billion) • Return on Equity: 9 percent from -26 percent in 2022 • Earnings per share 51.56kobo (2022: -173kobo) Key Ratios • Capital Adequacy Ratio: Improved to 12.6 percent from 10.2 percent in 2022 • Loan to Funding Ratio: Remained steady at 79 percent  • Non-Performing Loan (NPL) Ratio: Maintained at 0 percent  • Li
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OTC 2024: ACME Multi Tech Services boss urges FG to strengthen local content policies

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  TEXAS - Mrs Jumoke Oyedun, Managing Director, ACME Multi Tech Services Ltd., has called on the Federal Government to further strengthen local content policies in the oil and gas sector. Oyedun, a Nigerian accredited member of the organising committee of the 2024 Offshore Technology Conference (OTC), told newsmen at the just-concluded five-day conference in Houston, Texas, U.S. She said this would help to enhance development and capacity building in the sector. Oyedun urged the government to invest in education, training and provide financial support which include grants, low-interest loans, and venture capital funding for indigenous companies. According to her, the government needs to establish innovation hubs to focus on oil and gas technology as well as promote partnerships between foreign investors and local businesses. “It also needs to enhance infrastructure development for efficient operations; implement transparent policies for trust and participation. “Also, the government n
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