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Chidoka’s (Aviation) Stimulus Plan

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Chief Osita Chidoka, Minister of Aviation
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Last week, Nigeria’s Minister of Aviation, Mr Osita Chidoka was in London. It was an opportunity for him to impress the international community with his plans to grow the budding, but fast-paced Nigerian aviation industry.

The venue was the famous Chatham House, where Chidoka told his audience that what the country’s aviation industry needed was an “economic stimulus” plan to get out of the wood.

It was a special moment and everyone listened with rapt attention — an almost magical moment that lit up the hall.

Really, for several years, the country’s policymakers have waffled over such an idea, while the Nigerian airlines continue to flounder.

Now, the minister has put back the thorny issue of financing the industry on the front burner. “That is just exactly what the industry needs”, he said. “By introducing some initiatives, we are beginning to feel the pulse of the industry.”

Taking a comparative approach to justify the need for his plan, Chidoka said that several thriving airlines around the world have typically enjoyed or continue to enjoy government financial and material support.

According to him, among them are three US airlines—Delta Airlines, American Airlines and United Airlines – which have received over $40 billion in US government subsidies in the past decade.

Thus, the Nigerian aviation leader unfolded the key components of his novel idea to include economic stimulus plan and a strategic framework for the growth of the industry.

According to him, the stimulus plan “would involve a package of financial incentives that will provide support across the aviation value chain.”

Mr Chidoka impressed his audience with the idea of a Nigerian aviation industry growth plan, which everyone in the audience gave support to as clear-cut vision being driven by a clear-headed person.

The focus areas as identified by the minister were: airline operation and safety, aerodrome infrastructure and operation, airspace management, aviation allied services and manpower development.

It was clear from his analysis that the country’s aviation industry was underperforming in terms of its contribution to the country’s Gross Domestic Product, Chidoka said.

At a current GDP of N80.3 trillion or $509.9 billion, Nigeria’s aviation industry contributes a paltry $0.7 billion, which in percentage terms, is less than one per cent, about 0.4 per cent of GDP. Comparatively, the aviation industry contributes 27 per cent to Dubai (UAE)’s  GDP  and  2.1 per cent to the South African economy.

The minister attributed this dismal performance to current “gaps” in the system which, he said have hampered growth in the sector.

These gaps include: “underfinanced domestic airlines, underutilised BASA (bilateral Air Service Agreements), poor incentives for private sector participation and weak corporate governance in the industry.

Clearly, Mr Chidoka is leaving no one in doubt as to the direction of things in his ministry.

The new strategies, the Nigerian Aviation Industry Strategy Framework and the Economic Stimulus Plan (ESP) will ensure he achieves his plan.

Whereas, the ESP may form a key part of a broader Industry Strategy Framework, these may actually be complementary.

The ESP will target the funding problems of domestic airlines with the mission to ameliorate them.

This focuses boldly on confronting the financial challenges that have dogged domestic airlines.

To be sure, the Jonathan administration remains irrevocably committed to completing the physical and structural transformation of the country’s airports by carrying through with the airport remodelling /rehabilitation programme and the building of five new state-of-the-art international airport terminals in the country—which have reached advanced stages.

 Last year, at several public meetings which the Aviation Minister held with industry stakeholders, especially domestic airline operators, service providers and trade unions —he had promised to take into consideration their advice while drawing up a policy framework to move the industry forward.

Thus, it is believed that the new Aviation Industry Strategy Framework proposed by the minister as the new springboard to advance the industry incorporates the interest of key aviation stakeholders.

Chidoka also wants to work more with the private sector as a key partner to achieve a majority of the goals and targets he has set for the country’s aviation industry.

Nonetheless, Chidoka had made it clear several months ago when he assumed his position that he intends to continue with the aviation transformation agenda left behind by his predecessor.

Yet, like a chessboard grandmaster, Chidoka has been tinkering with his ideas, hoping to find a perfect fit between the past and the present.

Though, the Aviation Transformation, which Chidoka had vowed to continue with, provides a broad set of goals and objectives for the industry, the minister’s newly fangled Nigerian aviation Industry Strategic Framework may provide the flight plan that will confront present challenges.

Chidoka’s ESP would not be the first in the industry.  A plan of such nature under the Olusegun Obasanjo administration led to the N17billion aviation intervention fund.

Sadly, the fund crash-landed, failing to achieve its goal of ameliorating the funding problem of the industry. Chidoka is convinced he should take another shot at fixing the problem.

The minister armed with proof of similar actions taken by western countries to assist their own airlines appears determined to convince Nigerians that this is the right flight plan.

On March 3, inside Chatham House in London, Chidoka gave convincing argument, providing data that showed that several airlines in the US,UAE, Europe and elsewhere in the world routinely receive financial assistance from their various governments.

This support, as he pointed out, remains critical in not only keeping these airlines afloat but in ensuring that they flourish.

The minister also unfolded an “action plan” which he argued would help to “achieve business growth” in the country’s aviation industry.

These are: Stimulate increased foreign direct investment in the sector; reduce industry risk and expand credit and aviation finance, tailored to industry requirements; stimulate equity investments through attractive and competitive incentives across the aviation value chain.

Others are: facilitate government intervention and guarantees to boost industry performance and stimulate and facilitate local direct investment in sector.

The second stage of the action plan that would build on the success of the first one, according to Chidoka, will include the – creation of a robust regional hub and aviation city model that drives commercial; improve corporate governance and enterprise risk of industry operators; liberalise air space by implementing the Yamaussoukro Declaration; review government intervention model and move to commercial funding.      

Another area of focus that is dear to the minister’s heart is safety and passenger comfort. When he paid an unscheduled visit to inspect ongoing rehabilitation work at the Nnamdi Azikiwe International Airport in Abuja last year, Chidoka said the focus on security and safety was to ensure that the country retained its Category One air safety certification. Happily, this valuable recertification by the US FAA was achieved last year.

To check the “low level corruption” in the aviation industry, especially the airports across the country, the minister signed an MOU with the ICPC and directed FAAN, to partner the Economic and Financial Crime Commission, EFCC, to check malpractices and enhance the delivery of efficient services.

A few months ago, the minister inaugurated the first e-portal for the Nigerian Aviation Ministry and its agencies through which Nigerians and foreigners alike can interact with aviation officials including with his own office.

Through the e-portal, complaints can be sent directly to the minister. This cuts through bureaucratic red tape.

This communication channel, Chidoka hopes would improve the level of service delivery and customer satisfaction at our airports.

The minister has also signed up with the Independent Corrupt Practices Commission, ICPC in order to improve corporate governance at the aviation agencies which interface with the public.

The launching of the Aviation Passenger Services Portal, APS, on December 6, 2014 and the Aviation Commits Initiative (ACI) on 3rd February 2015, passengers have been able to keep the airlines on their toes by promptly reporting any erring airline for appropriate sanctions.

This initiative has in no small way assisted passengers to be the “centre” of the concern of all aviation stakeholders.

Passengers are protected under the new   Advocacy and enforcement of Customers Bill of Rights Policy initiatives.

This Customers Bill of Rights Policy has further been strengthened by Chidoka   with his introduction of Key Performance Indicators (KPI) for monitoring, evaluating and improving performance of aviation workers.

He also launched a sector- wide initiative Aviation Commits where all stakeholders in the industry commit to improve service delivery to the public.

Aviation parastatals, service providers and stakeholders were made to publicly commit to render prompt and reliable services to the public.

To check the “low level corruption” in the aviation industry, especially the airports across the country, the minister signed an MOU with the ICPC and directed FAAN, to partner the Economic and Financial Crime Commission, EFCC, to check malpractices and enhance the delivery of efficient services.

Only last week, the Minister directed the immediate implementation of the Aviation Revenue Automation Project (ARAP) project within 60 days to plug leakages towards making the sector more competitive.

Chidoka also provided insight into the direction of the country’s aviation industry.

“As we gradually transit into a new era of aviation business, this government is ready to make sure that those turning the wheels of the industry, do so with ease,” he explained.

“At the end, we want to build an economic engine that offers a decent ROI to everyone who has a stake in the industry. We invite the private sector to take the cockpit while government clears you for takeoff,” the minister said extending invitation to private investors.

Yakubu Dati is general managers, Corporate Affairs at FAAN


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General News

Mayor of London Commits to Deepening UK-Nigeria Ties in Tech, Creatives and Trade

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The Mayor of London, Sadiq Khan, has successfully concluded his visit to Lagos, Nigeria, aimed at strengthening the UK-Nigeria economic relationship and celebrating the deep cultural ties, shared vibrancy, and global influence of two dynamic cities – London and Lagos.

This visit marked the growing importance of Nigeria as a key partner in the UK’s global trade and investment strategy, particularly in sectors such as fintech, innovation, and the creative economy.

Alongside the visit, the Mayor of London led a trade delegation of 27 London-based companies in fintech, enterprise technology, and sustainability, supported by the Mayor’s growth agency, London & Partners. Under the leadership of Howard Dawber OBE, Deputy Mayor for Business and Growth, the agency facilitated a series of high-level engagements in Nigeria.

The delegation connected with Nigerian policymakers, investors, and creatives through curated events aimed at fostering collaboration and unlocking new business opportunities across Africa.

This visit marked the first official trip by a sitting Mayor of London to sub-Saharan Africa, underscoring London’s commitment to building long-term, cross-sector partnerships that support inclusive growth, digital transformation, and cultural exchange.

Mayor Khan’s engagements in Lagos commenced with participation in a panel discussion at the “Bridging Borders: How London and Lagos Can Shape the Future of Global Tech” tech event where he highlighted how London and Lagos can jointly shape the future of global innovation and encouraged Nigerian tech businesses to invest in London.

The Mayor of London also attended the Lagos Canvas Reception, a celebration of Nigeria’s flourishing creative sector which he co-hosted with Mo Abudu at the Ebony Life place.

The reception celebrated the status of Lagos and London as cultural and creative industry powerhouses and looked to encourage even greater ties between the creative industry ecosystems in both cities.

From the arts to fashion, music and film – central to the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) – which is expanding trade and unlocking new opportunities in the creative economy.

Wrapping up his visit to Lagos, Nigeria, the Mayor of London will continue his historic trade mission with stops in Accra, Johannesburg and Cape Town to bang the drum for the capital as a place for investment, innovation, and cultural exchange – strengthening ties with countries across the African continent for economic growth.

The Mayor of London, Sadiq Khan, said: “I am delighted to be visiting Nigeria and Africa this week – the first visit of its kind by a Mayor of London – to bang the drum for the capital and further develop the strong ties between our countries.

“Africa has the world’s fastest growing populations and is seeing major economic growth across many of its economies. Over the next decade there are huge opportunities to deepen partnerships with London. I will be working tirelessly throughout this visit to drive trade and investment across critical sectors including finance, education, health, tech creative and sustainability.

“Londoners of African heritage have played, and continue to play, a huge role in making London the greatest city in the world, and this trip is an opportunity to celebrate our shared heritage, history and culture with the African continent – as we build a better and fairer city for everyone.”

British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, said: “The Mayor of London’s visit underscores the UK Government’s commitment to strengthening economic and cultural ties with Nigeria. From trade to fintech and fashion, our collaboration is driving innovation and growth.

“Through the UK-Nigeria Enhanced Trade and Investment Partnership, we’re committed to unlocking new opportunities that benefit both our economies, and this visit is a powerful step forward in that journey of inclusive growth.”

UK Minister for Africa, Lord Collins of Highbury, said: “Sir Sadiq’s visit marks an exciting moment for the UK’s relationship with countries across Africa and is a strong demonstration of our commitment to deepening our ties with the continent.

“Strengthening our trade, investment, and cultural ties is not only vital for shared economic growth, but also for fostering long-term partnerships that are rooted in respect and open up opportunities for all.”


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FG to Launch Fully Digital Expatriate Residence Permit Application Portal August 1

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The Nigeria Immigration Service (NIS) has announced the rollout of a fully digital application system for the Combined Expatriate Residence Permit and Aliens Card (CERPAC).

The new online portal, https://cerpac.immigration.gov.ng, will become the exclusive platform for submitting CERPAC applications from August 1, 2025.

According to NIS, the digital migration is part of the Federal Government’s broader initiative to reform the immigration system by promoting transparency, improving operational efficiency, and enhancing the overall user experience for expatriates and organizations interacting with the Service.

In a press statement signed by A.S Akinlabi, Service Public Relations Officer, the NIS disclosed that manual or physical CERPAC forms will be completely phased out by July 31, 2025.

It noted that after this date, all applications must be submitted exclusively through the online portal.

The Service has advised applicants who have paid for physical forms but are yet to complete the submission process to do so on or before July 31, 2025, warning that any unsubmitted applications after the deadline will be deemed invalid, and associated payments may be forfeited.

Companies and individuals assuming Immigration Responsibility (IR) for expatriates have also been urged to ensure that all outstanding applications are finalized within the stipulated timeframe, to avoid potential delays or administrative setbacks.

“This digital transition marks a critical milestone in our effort to simplify processes and serve the public better,” the statement reads.

The NIS urged members of the public to direct all inquiries and correspondence regarding the new digital process to the office of the Public Relations Officer at the Service Headquarters in Abuja.

 


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Moniepoint Named Among World’s Top Fintechs by CNBC

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Tosin Eniolorunda and Felix Ike
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Moniepoint Inc., one of Africa’s leading business payments and digital banking platforms, announces it has been named as one of the world’s top fintech companies by CNBC, reinforcing the Company’s pioneering role in widening access to financial services across the continent.
Tosin Eniolorunda and Felix Ike

Tosin Eniolorunda and Felix Ike

Moniepoint joins a select group of leading fintech players recognised for their financial performance and success across 2023-4. The list – compiled by CNBC in conjunction with market research firm Statista – follows analysis of key performance indicators, such as revenue growth, transaction volume, employee headcount, and capital raised. The result is a diverse group of 250 trailblazing fintech companies.

Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt Inc.) has been instrumental in advancing financial inclusion across Africa – especially for individuals and businesses operating in the informal economy, underserved by formal and traditional institutions.

The Company services 10 million+ customers through its comprehensive, integrated ecosystem of digital banking, credit, payments, and business management tools, and processes over one billion transactions monthly with volumes exceeding US$22 billion.

The accolade follows recent milestones for the Company which reiterate Moniepoint’s commitment to innovation and widening access to the formal financial system.

Notably, Moniepoint expanded its offering to Africans in the international diaspora via the launch of the MonieWorld platform. MonieWorld offers seamless remittance and digital financial services capabilities to individuals in markets such as the UK; the first time the Company has provided services to consumers outside Africa.

In June, Moniepoint was named in the TIME100 Most Influential Companies list for 2025, highlighting the Company’s extraordinary impact. Moniepoint has also been recognised by the Financial Times for three consecutive years as one of Africa’s fastest-growing companies, reflecting its remarkable revenue growth and business expansion; and by CB Insights in the Fintech 100 list, highlighting the Company’s status as one of the world’s most promising private fintech companies.

Tosin Eniolorunda, Group CEO of Moniepoint Inc., said: “It is an honour to be named as one of the world’s top fintech companies by CNBC. Moniepoint’s inclusion in this prestigious, authoritative list is testament to the hard-work and success of the entire team while highlighting our emergence as a key player shaping the future of fintech worldwide.

“Our mission to power the dreams of millions of African entrepreneurs and businesses continues to propel us forward with renewed vigor. As we continue to scale, we remain committed to driving global financial inclusion and widening access to economic opportunities for Africans everywhere – transforming lives and livelihoods.”

CNBC’s list of the world’s top fintech companies was launched in 2023 to identify global market leaders in technology-driven financial services. The list, which includes companies operating across various regions and market categories including banking solutions, digital assets, and payments, highlights the dynamic and rapidly evolving FinTech industry, offering readers, investors, and stakeholders a comprehensive overview of the leading players across various segments.


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