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General News

AMCON Says Some Local Airlines May Collapse Over Debt

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Some Nigerian airlines are facing the risk of collapse under the weight of huge debts, according to the country’s Asset Management Corporation of Nigeria, set up to rescue banks from bad loans.

“The industry remains in the throes of airlines burdened with debts, under administration or on the borderline of collapse,” Amcon chief executive Ahmed Kuru said at the 2018 Colloquium of the Nigeria Travels Mart (NTM) in Lagos.

The colloquium had the theme: “Corporate Governance and Airline Industry Development in Nigeria”.

Amcon acquired the country’s biggest airline Arik last year because of difficulties arising from huge debts and poor corporate governance, it said.

Nigeria’s more than 10 domestic airlines are struggling with difficulties arising from the country’s first economic contraction in a quarter century in 2016, and have seen reduced access to capital and limited leasing opportunities.

The AMCON boss said that lack of regulations and good corporate governance were the main factors responsible for the failure of Nigerian airlines, including the defunct national carrier, Nigeria Airways.

According to him, there are two major problems with the airlines in Nigeria; one being lack of an effective Board of Directors, thereby affecting internal policies and discipline, the other problem has to do with regulation.

“Given the ownership structure of most airlines in Nigeria, the board’s veritable check on management and excesses of airline owners who show very little patience for orderly and planned conduct of business, is practically absent.

“A functional board is necessary for the effective operations of airlines with long term survival and profitability objectives.

“Individuals with independence, experience and expertise from relevant sectors of the economy are not identified and engaged,” Kuru said.

He said on the other hand, regulations were either weak and lack the courage to enforce compliance based on current standards, or need more fine-tuning to ensure effectiveness of the airline.

Kuru said: “The aviation industry is as important as the health industry because it deals with the lives of travellers. It requires more regulations than even the banking industry.

“It is only in Nigeria that an airline can abandon you at the airport for more than five hours without any recourse.

“Indeed, there are consequences for frequent cancellations, however, I cannot recall any airline punished in the recent past.

“That is why I want to use this opportunity to appeal to the NCAA and other regulatory agencies in the aviation industry to show courage and ensure that sound corporate governance systems are enforced.

“A starting point can be the domestication and adoption of the draft Nigerian Code of Corporate Governance 2018.”

Also, Mr. Chris Amenechi, Vice-President, Pricing and Revenue Management, Copa Airlines, Panama, said Nigeria could become an aviation hub if the country addresses the infrastructure deficit in the sector.

He added that the NCAA should not be an economic regulator of airlines but should rather stick to the technical and safety aspects of the business.

On his part, Mr Simon Tumba, Chief Executive Officer of NTM, said the government should focus on airports concession following its decision to jettison the establishment of a new national carrier.

“I believe the government should give more priority to the issue of airports concession. This will give Nigeria an edge and hopefully catapult us to the needed growth in this sector.

“It is very important that this is executed in a transparent manner with full support of the workers,” he said


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General News

FG Launches Virtual Privacy Academy

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The Nigerian government has launched the Virtual Privacy Academy, a new digital training platform designed to deepen data protection and privacy policies in the private and public sectors.

Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, unveiled the initiative during the 8th annual conference of the Network of African Data Protection Authorities, which began yesterday in Abuja.

The three-day conference, titled “Balancing Innovation in Africa: Data Protection and Privacy in Emerging Technologies,” drew attendees from over 30 African countries, as well as Europe, Asia, the Middle East, and the United States.

Dr. Tijani emphasised that the academy is part of Nigeria’s strategy to capitalise on the benefits of the digital economy by providing actors with the tools they need to navigate hazardous data governance landscape.

According to Tijani, this project would provide Nigerians with the opportunity to gain practical skills in data protection.

Dr. Vincent Olatunji, National Commissioner of the Nigeria Data Protection Commission, highlighted Nigeria’s recent data governance milestones during his address.

He stated that the Commission had completed over 5,000 compliance assessments, opened 223 investigations, and assisted 12 organisations with rehabilitation.

Dr. Olatunji urged African countries who have yet to pass data protection laws to do so, emphasizing that “strong data protection frameworks are not barriers to innovation, but enablers of a resilient and inclusive digital economy.”


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Treepz, Miva Open University Partner for Nationwide Mobility Services

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L-R: Sani Chanchangi, Business Development Manager, Treepz; Godwin Okpe, Community & Engagement Manager, Miva Open University; Florence Sulyman-Boboye, Global Vice President of Business Development and People, Treepz; Oluwole Adeniji, Manager, Corporate Services, Miva Open University
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Treepz, Africa’s leading corporate mobility startup, has announced an exclusive partnership with Miva Open University, Nigeria’s premier open university. Under this agreement, Treepz becomes Miva’s official transportation provider, delivering services across key cities, including Lagos, Abuja, Uyo, Port Harcourt, and Jos.

L-R: Sani Chanchangi, Business Development Manager, Treepz; Godwin Okpe, Community & Engagement Manager, Miva Open University; Florence Sulyman-Boboye, Global Vice President of Business Development and People, Treepz; Oluwole Adeniji, Manager, Corporate Services, Miva Open University

As Miva Open University expands its academic and administrative presence across Nigeria, Treepz will provide on-demand access to premium vehicles for staff transportation, guest logistics, special events, and official university functions. With a fleet that includes SUVS, Coaster buses, and luxury vehicles, Treepz ensures that all mobility needs are handled with reliability and professionalism.

“This partnership is a strategic move that helps us stay focused on what we do best—delivering accessible and flexible education,” said Oluwole Adeniji, Admin Operations Manager at Miva University. “With Treepz handling our transportation across the country, we can scale confidently, knowing our staff, guests, and stakeholders are moving safely and efficiently.”

On Treepz’s end, Johnny Enagwolor, Co-Founder and President at Treepz, noted that the partnership comes at a pivotal moment, allowing Miva, a forward-thinking institution, to prioritise its core mission of delivering quality education, while Treepz efficiently manages a wide range of its inter-city mobility needs.

“By providing a tailored transport service, Treepz aims to alleviate the logistical burdens of institutions, ensuring Miva University operate at its best.

“At Treepz, we understand the importance of reliable and efficient transport services in driving organisational success. Our goal is to provide Miva with the most comfortable, safe, and convenient transportation solutions possible,” Johnny added. We are committed to providing high-quality, safe, and reliable transportation solutions that support Miva’s mission and contribute to its ongoing success.

Furthermore, we recall that Treepz commemorated its fifth anniversary on September 16th, 2024. Over the past five years, the startup has made notable progress in addressing the continent’s transportation challenges through innovative, tailored solutions.

Treepz has also established itself as a key player in the African mobility industry, with more than 6 million customers served, consistently expanding its services and strategic partnerships to meet the evolving needs of corporate clients.

Recent partnerships with industry leaders such as Parallex Bank and KingMakers (owners of BetKing) have enabled Treepz to provide efficient transportation solutions to complete millions of employee commutes with their shared transportation service.

These accomplishments highlight Treepz’s growing influence and its commitment to revolutionizing corporate mobility and enhancing transportation experiences across the continent.

For more information about Treepz and its corporate travel services, kindly visit www.treepz.com

 


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Afreximbank to Fund African Energy Bank with $19bn 

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The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said that the Afreximbank would invest $19 billion to fund the African Energy Bank.

He said the $19 billion would go a long way toward tackling and overcoming energy poverty, driving economic growth, and improving the lives of millions of people.

The minister disclosed this while speaking at the opening ceremony of the Nigerian Pavilion, hosted by the Petroleum Technology Association of Nigeria (PETAN), at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, U.S with the theme “Africa’s Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development.”

He said that by pooling resources, African countries can invest in large-scale energy projects.

Also, the minister stressed the need for Africa to develop cohesive policies tailored to its unique circumstances, warning that fragmented approaches would be ineffective in addressing the escalating energy deficit.

“This conference is not a jamboree. It is a platform for Nigeria, and by extension, Africa — to showcase its vast potential,” Lokpobiri said.

He underscored the importance of regional collaboration, highlighting the Africa Petroleum Producers Organisation (APPO) as a strategic entity established to devise shared solutions for the continent’s energy challenges.

According to him, the prevailing global discourse on energy transition is largely influenced by geopolitical considerations.

In response to this challenge, he announced that APPO is in the process of establishing the African Energy Bank to bridge funding gaps and ultimately free the continent from energy poverty.

During a meeting with his Ghanaian counterpart, Lokpobiri advised Ghana to draw lessons from Nigeria’s past experiences in the energy sector, particularly in avoiding early missteps.

In his address, Ghana’s Minister of Energy and Green Transition, Mr John Abdullahi, acknowledged Nigeria’s leading role in the region.

He stated that while Ghana is a relatively new player in the oil and gas sector, it is eager to learn from Nigeria’s experiences and reforms, especially in the areas of local content development and climate policy.

“We will continue to consult Nigeria as we build a successful oil and gas industry. The collaboration between both countries remains strong. For his part, PETAN Chairman Wole Ogunsanya emphasised the significance of Nigeria’s presence at OTC.

He said: “This year’s event, under the Nigerian Pavilion, is set to highlight Africa’s growing role in the global energy sector.

“OTC 2025 promises to bring together top-tier industry leaders, policymakers, and stakeholders at the world’s largest energy event.”


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