₦airaland Forum

donvicky2007:
All traditional rulers in Anambra state also have innoson G5 SUV not this type that the Ebonyi State governor gave the traditional rulers; also all government secondary schools and most missionary schools in Anambra State also have one or two innoson hummer busbought and distributed by Ex governor Peter Obi administration, the Anambra State waste management agency also have the waste disposer trucks.
Try and get your findings right.

iamphotoshoot:
So suddenly, you are agreeing the hospital is in Ibadan? Can't you see our brown roofs?

Stingman:
Reading and visiting the site for reality checks is a different thing, ogbeni...May be you should do your own reserach...

donbuchi1:
Is ONELGA in Igboland?

Operators’ trapped funds hit N160b

Some foreign airlines operating in the country are considering gradual withdrawal of operations from Nigerian routes over inability to fully repatriate funds that are stuck in the economy.

The funds, being proceeds of ticket sales, have again accumulated to $400 million (N160 billion) as at November, after the airlines repatriated $300 million between June and September 19, 2016.

Part of the worry, The Guardian learnt, is the alleged unfavourable policy of the Central Bank of Nigeria (CBN), which mandated the airlines to sell tickets at the rate of N308 to $1, but to have them repatriated at N386 to $1.

Efforts to get the CBN to react to the claims failed. Several calls and text messages to the Acting Director of Communication, Isaac Okorafor, were replied with “I’m in a meeting”. As at press time yesterday, the CBN was yet to react.

Sources told The Guardian yesterday that some of the airlines might, therefore, begin to quit routes like Abuja, Port Harcourt and Kano “to cut losses on account of stranded funds and unfavourable foreign exchange policy of the CBN.”

“Most airlines do not want to leave Lagos as long as Nigeria is one of their destinations. But other routes, given their already low passenger traffic, can be scaled down to prevent further losses for the airlines. The airlines are running at a loss and that is the problem,” the source said.

It was learnt that the Turkish Airline has withdrawn from Mallam Aminu Kano International Airport, Kano. The airline followed the path of Emirates and Kenyean Airways that both closed down their Abuja offices in September.

The implication is that Nigerians outside Lagos will have greater difficulty and also spend more to connect international flights.

Regional Manager of one of the African airlines, who would not want his name to be mentioned because of possible sanctions from concerned authorities, said the withdrawal from some routes was due to losses the airlines were incurring in Nigeria, despite the slow pace of repatriation.

The manager observed that prior to the forex market reopening after CBN introduced the flexible policy in June this year, airlines were selling tickets between N165 to N200 per dollar. Following the new policy, airlines could only repatriate at N285, which means 40 per cent loss in revenue.

He said: “As at today, we are selling tickets at N306/ 308, while the parallel market is N474. But when we want to exchange from naira to dollar, we still cannot get it at N306 that we sold tickets. We are still buying from CBN at N330/ N350. Why the imbalance?

“We would have preferred it to float, that is, if the market rate is N400, then we sell at N400. That is what the market entails and the CBN should make it dynamic. Right now, what they are telling us is that they don’t care, more so, we are not their priority. The loss is pinching us and putting the business at risk,” the source said.

The General Manager of British Airways, Kola Olayinka added that getting forex to repatriate funds remained one of the main challenges that forced the aviation sector “on its kneels, either praying or falling.”

Olayinka said that in the interest of all parties concerned, the government should make forex available to the airline operators, “who should not be begging for it in the first place.”

The local office of the International Air Transport Association (IATA), the central clearing house of 260 airlines around the world, confirmed the rather slow process and dissatisfaction of the airlines in repatriating funds from Nigeria.

Prior to the CBN’s introduction of flexible foreign exchange policy in June, the airlines had over $600million stuck in the economy with IATA negotiating for its release to the airlines.

IATA Lagos office yesterday confirmed to The Guardian that $300million was approved by the CBN in June, in the first forex intervention given to the airlines. The second intervention had another $300milion bill submitted on October 17, but only $69million was approved by the CBN.

However, since October 17 when the last bill was presented, the stuck funds have again risen to over $400 million, as the foreign airlines in total make about N100 million in ticket sales daily.

An official said: “The issue is more of propaganda than actually repatriation on the part of the government. If airlines were actually repatriating their funds, the stuck funds would have been at zero by now.


“Truth is that some airlines, like EgyptAir have still not received anything. Some airlines were selected and they were given. Since then, more money is till there and has piled up despite losing revenue.
“No airline will come and add any frequency in this kind of system that does not allow them to get dollar, even where they do, it is at a colossal loss. We have made it known to the minister that the system is not working. No airline makes profit of 40 per cent. Where they are losing 40 per cent in revenue, then there is a big problem. That is why they are groaning, but nobody seems to care.

“Airlines will continue to move out from some routes. They cannot continue to run at a loss. If it continues like this, most of these airlines will close shop totally. This is business,” the official said.

Doug07034780891:
Nwokem mechionu if you don't have anything reasonable to say. The airport project and it's access roads are going on quietly at Otuocha without noise...

[s][/s]

AZeD1:
1) Airport profitably, is based on number of flights. Right now, there's no airport in Nigeria that is profitable.
2) You don't compete with your neighbours, you complement them. There's an airport in Enugu which is underutilised, there's also one in IMO, which is also underutilised. Has anyone tried to find out why they are underutilised? You can also count the airport at Asaba and PH as competing airports. That would make 5 airports competing against each other as against the one in the South West and one in the North.
3) Ogun state is the manufacturing capital of Nigeria and has gotten the largest FDI in that aspect because it is close to Lagos not because Ogun state has an airport.
This could have been replicated by the coming of the SE states to build high speed train that would hit all the SE states capital in 20 minutes from the Enugu airport.
4) Just before the opening ceremony of the 2012 Olympics, there was a forum for business men and some Nigerian governors were there. The 3 South East governors gave competing presentations because they wanted to woo the investors, Lagos and Ogun gave complimenting presentations (Fly into Lagos, build your adminstrative office in the highbrow VI, build your factory in Ogun were we have land).


The South East states should be working together, not fighting against each other.

Aufbauh:
It seems as if the PDP has no choice in 2019 due to the infectious leprosy of corruption in their rank, of which the Turaki Adamawa is no different.

Atiku's candidacy is a move for retrospective wallow in the pit hole of corruption.
It is better we rehabilitate Nnamdi Kanu and vote for him than enthroning a political "Jugunu" that will sell our future for a morsel of meat.

WorldRichest:
The baddest guy ever liveth that combined with the baddest general ever liveth General Muhmmadu Buhari to send the drunk ineffectual buffoon and his cantankerous sheppopo grammarian wife back to Otuoke Village to continue their fishing vocation.

Mama Piss wakes up everyday to curse Tinubu while the angels and the gods of our land pray for him for sacking the ineffectual buffoon and his gang of thieves that were looting and sharing our treasury.

blackaxe78:
Okorocha! The light of the East!

The ONE & ONLY viable candidate for the number 1 spot of the Federal Republic of Nigeria!

Bitter-truth, his people hate him. He clearly has more support in other regions than his own home.

He is the ONLY and Chosen ONE

It will be easier for Okorocha to become the President of Nigeria than for Arsenal FC to win the EPL

Smart78:
The problem of be it onitsha or any other city/town in the south east is the absence of basic infrastuture like good roads,water,sanitation etc,not forgeting taking care of all those mad ppl/destitutes roaming the entire zone. So itz not abt showing good roofings and brigdes. What of enugu/onitsha expressway and others??

EdCure:
He, like most-if not all Igbo leaders, just don't have the guts to talk.
Olisa Metuh is a case in point.

FFK and Fayose are being harassed and intimidated since the onset of the Buhari administration, but they have become the fiercest and most vocal critics of the president.

Bolustic:
Ogun(221)+Cross River(301)+Delta(271) +20 billion naira=Lagos (813b)

And some people out of smug ignorance and jealousy would say LAGOS DOES NOT DESERVE A SPECIAL STATUS.

If Lagos is not special, how come others don't generate and spend as much as it does?

How come it's still the only state setting pace for good governance in Nigeria?

KingOvoramwen1:
ANYONE WHO DOES NOT AGREE WITH YOU SICKOS IS LABELED AFONJA SMH ITS GETTING REALLY STALE SO GET A LIFE!!!


OJUKWU WAS NOT JUST A COWARD BUT A PATHETIC ONE AT DAT WHO AFTER LEADING MILLIONS OF HELPLESS IGBOS TO THIER DOOM RAN OFF TO ABIJAN TO SOAK HIMSELF IN BETWEEN THE LEGS OF TEENAGE GIRLS!!

okasebe:
This is one of the reasons why yorubas supporting biafra should be careful.

Just look at how they are abusing wole Soyinka that was imprisoned during the biafran war for speaking against the Nigerian Army and atrocities committed by them. Abi is it not the same wole Soyinka that spoke recently in support of biafra.

Igbos how do you intend to get support when you are busy discouraging those that have true intentions in support of your agitation and you praise people like Fayose and femi fani kayode that once boasted sleeping with ojukwu's wife.. Those guys are politicians.

Prof wole Soyinka is well known worldwide and if you have a figure like this still supporting biafra vehemently then you have gotten a voice.

jneutron4000:
if that is the case, every other tribe should also have issue with Afoja. I have personal experience many cases where some Igbo cause trouble. They sale to you fake stuff just to get your money, they use every opportunity just to cheat you, they make trouble with even their fellow Igbo man. There is a place in Ogun state called Ikenne, the people living there are Calabar that you will mistake that place for cross river or Oyo state but they are peaceful with their host and they have never made trouble even for once. But Some igbos, almost everywhere in Nigeria both in SW, SS, North and even Foreign Land they cause trouble