Realdeals: In the fast-paced and ferociously competitive airline sector, price wars have become like Siamese twins that can not be separated by the actors, as a surviving strategy.
While price wars are a common occurrence in the airline sector, they represent intense competition that sees airlines cut prices in an attempt to snatch passengers from their competitors. The subsequent implication may automatically trigger reduced margins and profitability. To thrive amid these price wars, airlines need strategy and competitive intelligence, specifically competitive flight price data to survive.
This is what is presently playing out in Nigeria’s air transport sector with focus on international flights since Air Peace, a Nigerian carrier, commenced flights to London Gatwick on March 30, 2024.
The exorbitant fares by the foreign carriers reached its peak following the over $800 million of their proceeds trapped in Nigeria with the mega carriers withdrawing their lowest inventory fares, leaving the highest inventory fares for Nigerians to grapple with.
The withdrawal of low inventory fares by the foreign carriers saw airlines like Virgin Atlantic increase fares on the economy class to N2.353,200 for just a seat while the business class skyrocketed to N5,345,700 on the Lagos-London route.
For Turkish airlines, the economy class ticket for the Lagos-Istanbul route rose to N874,661 while the business class ticket jumped to N1,980,876.
This was the same situation Nigerian travellers experienced with other foreign carriers like British Airways, Delta Air Lines, Lufthansa, KLM/Air France, Air Maroc and Ethiopian Airlines.
Before the foreign carriers ganged up to increase their fares, economy class tickets on the Nigeria-UK route was between N400,000 and N650,000, depending on the booking period while business class was between N800,000 and N1.2 million.
The financial pressure the exorbitant fares inflicted on the Nigerian travelers became so unbearable that those who could not afford it were forced to suspend international trips while some like students shifted their patronage to the neighboring countries where low inventory fares were available.
The rip off continued even after the federal government had paid the substantial part of the trapped funds with the outstanding funds now put around $29 million.
Relief however came with the commencement of Air Peace flights to London.
Immediately Air Peace announced its fares which have been found cheaper and more affordable for Nigerians, the foreign carriers, out of fears of losing their Nigerian, passengers to Air Peace have engaged in price wars for survival.
According to investigations, majority of the foreign carriers operating on the Nigeria/London route have conspired to drastically slash fares to the point of charging fares lower than Air Peace fares.
Apart from introducing new incentives and more friendly marketing strategies, the foreign airlines are neck deep in dangerous battles for market share that is capable of sending weaker airlines out of business and equally wreak havoc on profit margins or even challenge the very survival of Air Peace.
A price list sighted by Saturday Tribune showed Air France luring passengers to book between May 15 and June for economy class seat on the Lagos/London route with N907,782 fares as against the over N2 million for the economy it charged before now.
British Airways has also slashed its fares on the Abuja/London Heathrow to N1,394,536 as against the over N3 million it was formerly charging. Now, an economy class ticket on Virgin Atlantic from Lagos to London has been brought down to N980, 654,000 as against the N2.353,200 it used to charge.
The ongoing price wars and other gang ups by the foreign carriers which has raised concerns amongst key players have been attributed to the desperation of the mega carriers to push out Air Peace out of the Lagos/London route.
The price war strategy adopted by the foreign airlines has been described as one of the unjust engagement of the use of international Aero politics to frustrate any African carrier they see as competitive like Air Peace.
Many of the foreign carriers are said to be uncomfortable with the presence of Air Peace in view of its capacity in the areas of modern day aircraft in its fleet that can compete favourably with those of the foreign carriers.
The global record of the Nigerian carrier as a carrier that had in the past engaged in flight operations between Nigeria and other countries like China, UAE, Israel Brazil and South Africa during the pandemic seamlessly may have caused sleepless nights for the foreign carriers.
Many key players while reacting to the foreign airlines price wars described the market as extremely agile and impatient. They advised Air Peace to urgently change its game plan by making “the world taste what it means to be a truly Nigerian brand. You could see the presence of intentionality in their campaigns. It shows a clear understanding of the market. They are unleashing on Air Peace products of insights derived from the algorithm in their passengers platforms. They know where these customers are, they have their details, they may even be engaging passengers directly.”
The sudden reduction in the fares the key players said will be for the benefit of the Nigerian travelers who are the brides. They, however, expressed surprise at how the foreign airlines that refused to reduce their fares ab initio suddenly slashed the fares just to get at Air Peace.
Boldideas: If Good luck administration awarded it at $11.9b USD in 2014, and Tinubu's administration is doing it at $12.56 billion,.. Are prices of materials the same from 2014 till date. Lets even start with price of cement. Atiku Mekano should be objective in his criticism! This is not objective and intelligent of him at all..
1Sharon: Is it that igbos are too domineering or they don't pay rent.
This is an interesting thread. Let me step right into the convo here.
I was listening to a property program on a well-known online radio station beaming from Victoria Island in Lagos 2 years ago and this topic of not renting to Ibos, unmarried men and ladies was discussed with a lawyer and a real estate agent as guests.
A male Ibo caller who was once a Lagos tenant but is now a property owner phoned in from the Lekki axis and stated how he too would NOT allow any Ibo person who is a TRADER and wants to rent a flat in his house because they tend to be uncouth and garrulous, they sometimes don't pay up on time, and last but not least, they have a bad habit of bringing in more people to stay with them in the rented house against the normal agreement with the Landlord and caretaker.
Second, another male Ibo caller phoned in to the live radio program and garrulously said on air that he lives in a house which he built in Lagos and that he would NEVER rent his house to a Yoruba. (I found it ridiculous that he would make that comment on a live radio about never renting to Yorubas while he's living right in Yorubaland, on leased land which he would have to return to the real Yoruba land owners at the end of the lease period while his so-called house would be demolished, and the land on which the house was built would be used for something else).
Third, a couple of callers who were of Yoruba descent also phoned in to say they rent their houses to Ibos and other ethnic groups, but another Yoruba guy who is also a landlord gave objective reasons why some Yoruba folks don't rent houses to some Ibos based on the VERY BAD past experiences from the Ibo tenants (especially those who have recently relocated from Iboland) who have an OVERBEARING attitude and are quarrelsome to the point of taking the landlords to court, and bringing in more than the required number of people to stay in the rented flat or house with the primary tenant. Some were also accused of secretly moving out of the rented houses without paying the balance of their house rents.
So, those are some of the specifics that CLEARLY show that the overbearing attitude and disrespect from some Ibos from the South East of Nigeria living in other parts of Nigeria such as in Lagos, Calabar and Abuja have led this rejection of Ibos from being taken in as tenants by some landlords thereby making things difficult for their other Ibo ethnic kinsmen who are searching for houses to rent.
Anambra people will never rent house to Ebonyi man... Enugu man will never rent house to abia man....
Igbo man in Lagos will not rent house to Yoruba....... Even in Abuja, northern landlords are adopting this style of not wanting igbo tenants.
This is not tribalism, it is due to past experience.... My current landlady will never rent house to Igbo... The last igbo guy she tried it with showed her shege and I was a witness to it. She gives her room to other tribes but not certain east people..
Growing up, we have Hausa, Kogi, Edo And igbos in our house.. The only problem the house have was the Igbo tenant.... That one left after so much issue and another one came, this one almost killed the whole tenants. Since then, they never rented to igbos again.... But other tribes full there well well..
So it's not tribalism but due to previous past experience with some set of igbos....
So if an Igbo cannot rent room to his fellow igbo man from another state, u shud not he surprised if others do it to them..
Coolestguy2023: Go to Festac, majority of the houses built by igbos are rented to igbos only in Yoruba land. So OP, what the helll are you talking about?
He should be reading some of the comments to get a hang of the constructive information and then deal severely and legally with the criminally defamatory online posts.
He can also get trusted aides to distill the online information for him.
Opebiman: Northern Nigeria, a prominent area in the country, encompasses three geopolitical zones and is home to the capital city, Abuja, as well as the bustling economic hubs of Kaduna and Kano. Despite being the largest landmass in Nigeria, it typically lags behind other regions in terms of development. However, several ambitious projects are underway in northern Nigeria that are expected to catalyze significant transformation in the region.
Number 6, Abuja - kaduna - Kano highway. This 375-kilometer highway links the Federal capital territory, Abuja, to the commercial hub, Kano, serving as a vital segment of the A2 road network. Its construction cost, totaling 779 billion naira, makes it the priciest project in Northern Nigeria and the second most expensive road endeavor in Nigeria's history. Under President Bola Ahmed Tinubu's administration, a new funding model has been committed to ensuring the timely completion of the final phase by 2026.
Number 5, Ajaokuta-Kaduna-Kano pipeline. The Ajaokuta-Kaduna-Kano (AKK) gas pipeline, spanning 614km, aims to link gas supplies from the Niger Delta through Ajaokuta, extending to the FCT, Kaduna, and ultimately Kano. This ambitious project carries a price tag of $2.8 billion, with approximately $2.5 billion financed by Chinese banks. This project will massively boost industrialization in kano, kaduna and Abuja. Bringing them closer to the level of the southern counterparts.
Number 4, Gwagwalada power plant. Situated in Gwagwalada, in Nigeria's Federal Capital Territory, the Gwagwalada Power Plant stands as a significant energy infrastructure project, showcasing Nigeria's commitment to energy diversification and sustainability. Using primarily natural gas, the plant not only reduces emissions but also ensures consistent power supply. Spearheaded by President Bola Ahmed Tinubu, this project integrates with the Ajaokuta-Kaduna-Kano gas pipeline. With a $2 billion investment, this pipeline seeks to transport gas from southern to northern Nigeria, further strengthening the nation's energy infrastructure.
Number 3, Kaduna - kano rail line. A new rail line linking Kaduna to Kano is under construction in Northern Nigeria. This segment is part of the larger Lagos-Kano rail project, connecting the Lagos port to Kano. Spanning approximately 203km, the rail is being constructed by China's Civil Engineering Construction Company (CCECC). It features a double-track system to accommodate higher train traffic and facilitate easier management. The project's estimated cost is $1.2 billion.
Number 2, Kano maradi railine. This ambitious rail project in Nigeria carries a staggering construction cost of $2 billion, covering 285 kilometers to link Kano, Jigawa, Katsina, and Maradi in Niger Republic. overseen by Mota Engil, this is the most expensive rail project ever built and set for completion in 2025. These rail lines are expected to revolutionize travel between major northern Nigerian cities and form a crucial part of the broader Lagos to Kano rail initiative, enhancing connectivity from Lagos port to Kano and extending to Maradi.
Number 1, Abuja metro line rehabilitation. The Abuja Light Rail is West Africa's first metro line, consisting of two phases. Phase one, launched in 2018, covers 45.24 kilometers, connecting Nnamdi Azikiwe International Airport to the city's central business district. Phase two is set to further expand Abuja's coverage.
Despite challenges, including a suspension of passenger services in 2020 due to the COVID-19 pandemic, The FCT minister is dedicated to rejuvenating the rail system and completing subsequent phases. The planned network spans 290 kilometers across six phases or lots, with construction completed on Lots 1 and 3.
Tbh, these Saudi women are ridiculously overdressed for the gym workouts. Period.
So, do these Saudi women also wear hijabs when swimming in the pool or when having their morning baths in the bathroom? WTF.
What they need in an ideal case scenario is to have an all-female gym where they can easily remove the full hijabs while exercising... Then head on to the shower room after exercising with the aid of a female gym instructor.
GistMedia0: Venezuelan drug trafficker Reinaldo Fuentes, 68, was brutally murdered by his kidnappers who bound and gagged him before tying him to an anchor and throwing him into the sea. Fuentes, a middleman for the Venezuelan Clan del Cartel, had attempted to steal £7.9 million worth of cocaine from the gang. He tried to cover up the theft by fabricating a story about a coast guard pursuit, but his bosses became suspicious.
The cartel, angered by his actions, responded by killing him in a ruthless manner. Fuentes, who had tried to collect and move the cocaine, was also known to be dating a prominent lawyer and caring for her daughter. The chilling footage of his death shows him struggling as he is tied to an anchor and thrown overboard, with no efforts made to save him. Authorities have not yet made any arrests in connection with Fuentes' death.
Toks2008: Generations are typically categorized based on shared birth years and common life experiences. While there can be variations and overlap, here are some commonly recognized generations:
1. Silent Generation (The Builders): Born roughly between 1928 and 1945, the Silent Generation came of age during a period marked by significant global events like World War II and the Great Depression. They grew up in an era of economic hardship, instilling in them values of frugality, resilience, and a strong work ethic. As they matured, many became known for their traditional values, respect for authority, and commitment to duty.
2. Baby Boomers: Born approximately between 1946 and 1964, Baby Boomers represent a demographic surge following World War II. They grew up during a time of unprecedented prosperity and social change. Boomers witnessed and participated in significant cultural movements such as the civil rights era, the feminist movement, the counterculture of the 1960s, and the rise of television as a dominant cultural force. Their experiences shaped values of individualism, ambition, and social activism.
3. Generation X: Born roughly between 1965 and 1980, Generation X came of age in a period of economic uncertainty and social upheaval. They were the first generation to embrace technology as it rapidly evolved, witnessing the advent of personal computers, the internet, and mobile communication. Growing up in an era of shifting family structures, many Gen Xers value independence, adaptability, and scepticism toward institutions.
4. Millennials (Generation Y): Born approximately between 1981 and 1996, Millennials are characterized by their immersion in digital technology and globalization. They witnessed the rise of the internet, social media, and mobile devices, which profoundly influenced their communication styles and worldview. Millennials value diversity, collaboration, and work-life balance. They are often portrayed as socially conscious and environmentally aware, seeking purpose and fulfilment in their careers and personal lives.
5.Generation Z (Zoomers): Born roughly between 1997 and 2012, Generation Z is the first cohort to grow up entirely in the digital age. They are digital natives who are fluent in technology and social media platforms. Raised in an era of rapid change and global connectivity, Zoomers are known for their entrepreneurial spirit, social activism, and concern for social justice and environmental issues.
6.Generation Alpha: Born from 2013 onwards, Generation Alpha includes the children of Millennials and Generation Z. While still young, they are growing up in an increasingly connected and diverse world. Generation Alpha is expected to be highly technologically savvy, creative, and adaptable to change.
These generational labels are often used to analyse social trends, consumer behaviour, and cultural shifts, but it's important to remember that individuals within each generation are diverse and may not fit neatly into stereotypes. Additionally, definitions and boundaries of generations may vary depending on cultural and regional factors.
Nice thread.
Indeed, the FACTS below are succinctly stated for Gen X: "We were the first generation to embrace technology as it rapidly evolved, witnessing the advent of personal computers, the internet, and mobile communication."
3. Generation X: Born roughly between 1965 and 1980, Generation X came of age in a period of economic uncertainty and social upheaval. They were the first generation to embrace technology as it rapidly evolved, witnessing the advent of personal computers, the internet, and mobile communication. Growing up in an era of shifting family structures, many Gen Xers value independence, adaptability, and scepticism toward institutions.
nlfpmod: Let me welcome all Band A customers to the “exciting world” of expensive power.
We have been doing it for years as I explained in this post below.
Trust me, forget all your energy savings plans, the real elephant in the room is your AC. And I’ll explain why..
The last time I paid N270/Kwh plus for power was last December. Since then it’s been over N400/Kwh.
And if you are like me, with a household of 5 or more then be rest assured you will spend between 800KWh to 1000KWh for power if you get at least 18 hours of power on the average.
The elephant in the room is your AC.
I’ve seen post here suggesting turning off deep freezers, switching to energy savings bulbs etc helps conserve power. While it’s true, it is nothing close to your AC.
You can turn on your entire fridge, freezer, fans, bulbs for the whole day and you won’t rack up more than 10kwh per day which is equivalent of N2,750 per day.
But turn on a 1hp AC from 7pm to 7am and you incur 8.94KWh or N2,458 for just 12 hours. This is just 1hp.
Here is how you calculate it
Most ACs come in hose powers. So to convert it to KV you multiple by 0.745 and then by the number of hours the power is used to get the KWh.
So for example, if you use three 1hp AC, and 1 2hp AC like I do most nights it gives you 5hp.
Multiply that by 0.745 you get 44.7KWh
Multiply that by 275 you get N12,292 per day or N368.7k per month.
Some engineers will opine the consumption can vary depending on how you manage your AC.
The cooler your AC the more power it consumers. Inverter ACs consume less per hp but those things don’t work very well with our weather. Especially if you live in a big house.
This is going to be the reality of a lot of people who have large households. Especially, if there is power and they want to enjoy from when they come back from work until in the morning.
The average power bill of a 3 bedroom flat with 3 ACs and 20 hours of power should be within the range of N220k monthly.
Juxtapose it to their salaries and you understand what lies ahead for Nigeria’s lower and upper middle class.
Increasing electricity tariff will upend lifestyles more than anything else I’ve witnessed in Nigeria.
For example, real estate, birth control, WFH, long stay guests/relatives, solar power usage etc. a lot of things will change.
Inflation could also rise further.
Like my neighbours, I have solar powered inverters installed which carries everything 24/7 except ACs, water heaters, pumping machine and iron.
Yet, I average 40KWh a day as we turn on the ACs from 7pm to 7am.
Typically, mwith the rains consumptions drop because the ACs work less.
But trust me, this stuff will humble you. Power is not cheap and a rude shock awaits a lot of Nigerians.
Hoelujohn: They are joking if it's the same obasanjo farms that is in Ota where I live. They have the best power supply in Ogun state if not even in Nigeria. I am sure they have nothing less than 23.5 hours per day.
Politics › Re: Ghanaian Government Arrests 107 IPOB Members, Deports 30 by Konquest: 5:37pm On Apr 08, 2024
