₦airaland Forum

Buhari4dullard:
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Cocaine is set to become Colombia’s main export, overtaking oil, as production of the narcotic continues to expand as the government takes a more lenient policy regarding drugs, according to estimates by Bloomberg Economics.

Oil exports posted a drop of 30% in the first half and the trend of cocaine trade has consistently risen, meaning the latter could be Colombia’s No. 1 export as soon as this year, according to Bloomberg economist Felipe Hernandez.

“We estimate cocaine export revenues jumped to $18.2 billion in 2022 — not far behind oil exports of $19.1 billion last year,” Hernandez said in a note.

“The government is destroying laboratories where coca leaves are manufactured into cocaine, but that hasn’t prevented production from expanding.”

Colombia’s cocaine output surged to a record 1,738 tons last year, while the amount of land planted with coca, the raw material for making the drug, rose 13% to a record 230,000 hectares (570,000 acres) in 2022 from the previous year, according to a UN Office on Drugs and Crime report published this week.

Hernandez said the increase in cocaine production has had a short-term effect on activity, domestic demand and external accounts while not seeming to correlate with the performance of the Colombian peso.

President Gustavo Petro, the first Colombian leftist leader, has changed the nation’s approach toward drug trafficking, seeking to hit drug lords who benefit more from the sale of narcotics overseas rather than targeting coca leaf producers, who are the weakest link in the production chain. Petro is seeking talks with the nation’s main drug-trafficking groups, in the hope of ending six decades of civil conflict though peace accords.

The new policy approach toward drugs is facilitating illegal groups to increase cocaine production, Hernandez said.

Bloomberg Economics calculates the export volume as the difference between production and seizures, meaning the figure could be lower as the calculation doesn’t account for domestic consumption and seizures in transit and destination countries, while it estimates the export price adjusting the methodology of average wholesale prices in 2015-2018 and the cost, insurance and freight export price calculated by Andres Arias ((2019).

Bloomberg Economics is a branch of Bloomberg LP that offers macroeconomic research service for Bloomberg Terminal subscribers and is separate from the newsroom.

Wealthoptulent:
a SIMPLE THANK YOU

Nigerians living in the United Arab Emirates (UAE) have said that the lifting of the visa ban on Nigerian travellers by the oil-rich Arab nation has brought back hope and light to them.

They explained that before Monday when the ban was lifted, many of them with work permits feared being forced to return to Nigeria.

They praised President Bola Tinubu for reaching a pact with his UAE counterpart, Mohamed Bin Zayed Al Nahyan that led to the development.

Tinubu was also hailed yesterday by Senate President Godswill Akpabio, for the end of the 10-month visa ban.

Two of the Nigerians residing in the UAE said that many did not understand that there is a direct correlation between the visa ban and work permit.

One of them, Oluwadeji, who has lived in UAE for over two decades, said that when the ban was announced, a new visa and work permit policy came into being.

He said: ”There is a new visa issuance and labour card renewable terms for people working in UAE. Many Nigerians have temporary work permits that last for two years. For those working in a free zone, it used to last for three years but now, everything is two years.

“That means that at each point in time when your contract ends, you have to renew the labour card and visa. Those whose visas or cards have expired have to go home.

“The visa ban affected so many families, people lost jobs and means of livelihood. Even professional workers like doctors, etc. were affected.

“Everything here is like a chain. When you have a visa that is what you will use to open an account, get an apartment and driving licence. When your visa is not renewed, it means that your account will be closed because you can’t update anything about yourself and family.

“When companies place adverts for positions, they boldly warn that Nigerians should not apply because they know they (Nigerians) can’t renew their visas.”

“The lifting of the visa ban has brought great relief to those living and working in UAE.”

Adeniji, a logistics businessman and a member of the UAE chapter of the Yoruba in Diaspora, said the ban complicated the woes of many Nigerians in the country.

He said: “In August 2021 UAE stopped issuing Labour permits to Nigerians, This gives most Nigerians concern. Since then, most Nigerians have been out of jobs. Some even had to leave the country to avoid illegal stay.

“When the UAE took another step by stopping issuing tourist visas to Nigerian nationals, we knew that it had become a more serious issue.”

He also thanked President Tinubu ”for saving the situation.”

"We thank him (Tinubu) for exemplary leadership to dialogue with the UAE authorities to solve the problem of ordinary citizens of Nigeria in the United Arab Emirates.”

In Abuja, Senate President Akpabio described the lifting of the visa ban as a socio-political showpiece.

He said: ”I have always had confidence in the ability of President Bola Tinubu to turn around the fortunes of our dear nation and this singular achievement has once more rekindled my hope and that of millions of Nigerians in the Renewed Hope Agenda of the All Progressives Congress (APC)-led government.

“I must confess that President Tinubu’s engineering of the process that led to the lifting of the visa ban on Nigerians by the government of UAE is an act of genius and of course, a magnum opus.

“It smacks of a clear-cut economic and political policy capable of launching Nigeria into the comity of leading nations with a high rate of Ease of Doing Business.”

Nigerian, Christopher Olusa Hits 30 Hours In Quest To Break Guinness World Record For Longest Speech Marathon By Individual

A Nigerian, Christopher Bayode Olusa, has delivered a speech for 30 hours in his quest to break the Guinness World Record for the longest speech marathon by an individual.

Olusa is currently giving his speech at the DEJAVU Hotel, Alagbaka, Akure, Ondo State, Southwest Nigeria.

Guinness World Records earlier accepted Olusa's application for the longest speech marathon with application reference: 230612192313lsm.

"We are pleased to inform you that your application has been accepted under the following title: 'longest speech marathon,” the mail from Guinness World Records reads.

Guinness World Records has seen a surge in record-breaking attempts from Nigeria in recent months after Chef Hilda Baci's cooking marathon which attracted public attention.

In May, Baci officially broke the record for the longest cooking marathon (individual), with a time of 93 hours 11 minutes.

According to the Guinness World Records, the longest speech marathon is 90 hours and 2 minutes, achieved by Ananta Ram KC (Nepal) in Kathmandu, Nepal from 27 to 31 August 2018.

“The attempt started at 6:15 am on 27th August and finished at 12:17 am on 31st August 2018. Ananta Ram KC maintained a silence for almost 7 days before starting the attempt as a part of his preparation for the longest speech attempt,” GWR said on its website.

NIGERIA-UAE DEAL: Experts Predict Rise In Foreign Investments, Revenue Boost

* Express hope of reduced air fares as Emirates, Etihad return to Nigerian airspace

* UAE lifts visa ban on Nigerian travellers

Experts in country have expressed optimism that the new Nigeria-UAE deal facilitated by President Bola Ahmed Tinubu will boost the nation’s foreign investments and revenue generation.

The experts have also said that the return of Emirates and Etihad airlines to the nation’s aviation sector will reduce ticket fares on international routes, increase investment and create employment.

LEADERSHIP reports that President Bola Ahmed Tinubu and the President of the United Arab Emirates (UAE), Mohamed bin Zayed Al Nahyan, yesterday finalised a historic agreement which has resulted in the immediate cessation of the visa ban placed on Nigerian travellers.

By this historic agreement, both Emirates and Etihad airlines are to immediately resume flight schedules into and out of Nigeria without any further delay.

The statement added that the immediate restoration of flight activities through the two airlines and between the two countries does not involve any immediate payment by the Nigerian government.

Speaking against the backdrop of the president’s visit to the UAE and the immediate end of the visa ban on Nigerian travellers, former president, Aviation Round Table Initiative (ARTI), Dr Gabriel Olowo, and the director of research, Zenith Travel Consult, Olumide Ohunayo, both agreed that the outcome of the peace move by the president would bode well for country’s economy.

Olowo said the fact that Nigeria is back to the route is a good one but there must be reciprocity from the UAE as Nigerian airlines plying the routes must be allowed to operate without hindrances.

“That is a very positive move by the government. We need to make peace and have positive economic relationships with almost every country of the world. That we are back there is a very good one, but as we are doing this, and as the trade policies are coming up, I hope airlines that will fly the routes and that will do the commercials are equally cited during the negotiation.

“I didn’t see Air Peace management during the negotiation, and Emirates Airlines cannot be calling the shots during such negotiation. So, in the next trade meeting with the government, the stakeholders should be there. Air Peace has been designated to that route and I do know that the playing ground wasn’t too level, and it has to be level when we are talking about reciprocity,” he stated.

Olowo also urged the government to prioritise the repatriation of Emirates airlines’ trapped fund.

He went on: “Emirates has a lot of backlogs trapped in Nigeria and that is bothering them because they need it back home. These are some of the issues that need to be addressed. They didn’t buy anything from us; they did business in our economy and we must pay them. I told the minister that we need to pay them. We need their services in as much as our airlines are still weak.

“When we develop them and they begin to get stronger, then we can rescue market share and Nigeria will participate almost equally because foreign airlines have mastered this for long, so it will take us time to get near them; therefore, we still need them.”

According to Olowo, Nigeria has the unenviable record of being the number one country that does not remit airlines’ funds.

On his part, the director of research, Zenith Travel Consult, Ohunayo, said the return of the two airlines will reduce ticket fares as well as create employment and increase government revenue generation in the sector


According to him, the federal government should ensure repatriation of trapped funds belonging to Emirates airlines, saying Nigeria should expect more investment.

He said, “We expect to see more investment, more Nigerians employed and those providing services to them and other allied services outside the airports. There will be more revenue for the agencies, revenue will come in from passengers and other airlines charges. Also, I look forward to them partnering with our airlines and creating investment in the aviation sector.

“We must be responsible enough to meet with the agitations of the Emirati. We should refund money trapped and curb the misbehaviour of Nigerians, but most importantly, we should expect drop in ticket fares on the routes, especially with the capacity that Etihad and Emirates have. We should expect ticket fares to come down.”

He, however, commended the president for securing the reversal, saying Nigeria must demand prime spots for Nigerian airlines operating on the routes from the Emirati government.

“It’s good to see Emirates and Etihad returning. I just hope Nigerian airlines will have the same slots and frequencies into Dubai and not outside Dubai airport.

“I hope they are going to use their coming to correct their past errors. Anyone that wants Lagos (route) must give us the prime spot in their country. Anyone that wants us to pay for slots in their airports should also pay for slots here. That is the principle of reciprocity. We must be able to defend our own irrespective of who is flying the flag. If Emirates and Etihad are coming to Lagos, two Nigerian airlines must get to Dubai, not Sharjah; they must create the space and give us the slots,” he stated.

Abike Hails Tinubu’s Intervention

The chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Hon. Abike Dabiri-Erewa, has applauded the swift intervention of President Bola Ahmed Tinubu that led to the lifting of visa ban on Nigerians by the United Arab Emirates (UAE) and resumption of Etihad and Emirates Airlines into the country.

In a statement in Abuja by Abdur-Rahman Balogun, NIDCOM’s head of media and public relations, Dabiri-Erewa said with this landmark unique diplomatic achievement, Nigerians working in the UAE, who could not have their work permits renewed, can now heave a sigh of relief.

The NIDCOM boss said this intervention will usher in a new era of collaboration and friendship between the two nations – Nigeria and the United Arab Emirates.

Besides the lifting of ban and resumption of flights into Nigeria, Dabiri-Erewa said the bilateral parley also laid a robust foundation for substantial investments in various sectors in Nigeria.

Dabiri-Erewa, who said she had been bombarded with calls from excited Nigerians living in the UAE, urged them to continue to be good Ambassadors of the country.

A diplomatic row had broken out between the two countries over a year ago due to some unresolved differences which had brought untold hardship to travelling Nigerians as well as those living in the UAE.

adebayo987:
Too late... a waste of time and money!

Jogs1900:
I think some PDP state governors are the ones bankrolling Atiku.

US Court To Hear Atiku’s Fresh Suit Against Chicago State University On Tinubu’s Certificate Tuesday

The United States District Court for the Northern District of Illinois will on Tuesday hear the fresh suit filed by Nigeria's 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, against President Bola Tinubu’s Chicago State University (CSU) certificate.

Atiku, a former Vice President of Nigeria is asking the US Court to compel Chicago State University to produce documents, information or objects on President Tinubu or to permit inspection of premises in a civil action.

Political Economist, an online news media on Monday reported that Atiku filed the fresh suit a few days after the Presidential Election Petition Court (PEPC) in Nigeria dismissed his petition against Tinubu’s election in the February 25 presidential election.

The report noted that court papers showed that the matter was docketed by the Clerk of the court on Friday before the Honourable Jeffrey T. Gilbert and the testimony of CSU would be taken in person on Tuesday, adding that the court however stated that should the CSU or its representative be unable to make in-person appearance, such a person can opt for a telephone appearance.

The former Vice President believes that the fresh suit against the Chicago State University on Tinubu’s certificate and information will facilitate his chances of overturning the judgment of the PEPC at the Supreme Court as he moves to challenge the tribunal’s verdict at Nigeria’s apex court.

The court reportedly said in the Notice of Docket Entry, “The court’s preference, however, is for counsel who will be speaking at the hearing to appear in person.”

The US court further said that it is treating the matter with urgency in the light of the exigent circumstances presented by Atiku Abubakar and to make room for the possibility of appeal to the court’s ruling.

Atiku is requesting: A true and correct copy of any diploma for a Bachelor of Science degree issued by CSU in 1979; a true and correct copy of any diploma issued by CSU in 1979 to Mr. Tinubu; true and correct copies of any diplomas issued by CSU (other than to Mr. Tinubu) that contain the same font, seal, signatures, and wording (other than the name of the recipient and the specific degree awarded) as contained in Exhibit C which purports to be a CSU diploma issued to Mr. Tinubu on or about June 22, 1979.

Other documents the PDP presidential candidate is requesting from the CSU are true and correct copies of any CSU documents relating to Mr. Tinubu that were certified by Jamar C. Orr, Esq; and a declaration, and all communications to or from CSU concerning the certification of such documents by Jamar C. Orr, Esq., during the period August 1, 2022, to August 1, 2023.

Atiku, in the fresh suit supported with several documents, also sought the appearance of representative(s) of CSU at a time, date, and place set forth in the supporting documents to testify at a deposition to be taken in this civil action.