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General News

Oduah Inspects MMIA Project Sites, Upbeat on National Carriers

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picture: Princess Stella Oduah, minister of Aviation flanked by officials of the ministry and FAAN while on an inspection tour of MMIA 'D' and 'E' fingers in Lagos on Tuesday.
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Princess Stella Oduah, minister of Aviation said she is delighted with the pace of work at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos.

She expressed her satisfaction while on an inspection tour of facilities at the airport on recently

Facilities inspected include the Extended Departure and Arrival Halls, new in-bound baggage reclaim carousels, on-going construction work on “Fingers” as well as Transit Facilities.

Similarly, the Minister said that the Ministry is focused as regards the proposed national carrier and shall make public pronouncement on the project soon.

 Briefing newsmen immediately after inspecting the fingers, particularly on the date the projects will be open to public use, Oduah, “The key word is that we are going to Commission the projects very soon; we want to be able to facilitate the usage of these facilities by first quarter of next year (2014). But what is very key is that passenger traveling experience will be very different. It will be the way it should be; providing them comfort, security and most importantly, it will increase the capacity. There will be ample space for smart operations at the areas. By this strategy, the safety and security of the passengers is being enhanced.

“Thus, Nigerians should expect the aviation industry that was promised to them; an industry that will be catalyst for national development. Essentially, this will be an industry that has been repositioned to create jobs, hubs and skills for the people”.

For other remodeling projects on-going in other airports across the country, she said, “Airport projects are always work in progress. However, ours is targeted at between first and second quarter of next year, we wouldn’t see the massive work on-going. We should be commissioning and using them. Like the finger we just visited, we are changing all the bridges; by the second quarter of next year we should see different bridges. I am sure; most people do not know we have such space upstairs at the MMIA. Ours is to maximize the capacity that has not been tapped into these years.

“Airports like Owerri, Sokoto, Akure, Yola and several others are ready. We are just making sure that is there are T’s to cross or I’s to dot we do so before commissioning them.

“By January we shall start commissioning them, but we allowed passengers to use them because they deserve the best”.

For the national carrier, she added that the Federal Government ought to have pronounced the new national carrier, but it has been delayed due to few challenges.

“We are trying to rectify them. We shall be pronouncing the new national carrier soon, however, the important thing is that we want to give Nigerians the national carrier that we all aspire to have; such that will be a true representation of all of us; such that will be professionally and efficiently managed.

Also, Oduah clarified issues surrounding the on-going power projects at the airport, she said that the first project has commenced, even as the Ministry hopes to mobilize the contractor for the second project.

Oduah, since assuming duties as minister of Aviation, has always reiterated her quest to readdress quagmires she inherited in an industry poorly developed, steeped in crises with threat of imminent collapse.

The absence of a consistent and well articulated national aviation policy, excessive bureaucracy and bad management was its waterloo.

She, therefore, navigated through the cacophony of several policies and came up with the Aviation Road map.

The Road-map provided the institutional framework for the provision of infrastructure, monitoring and control of the industry.

The involvement of aviation stakeholders in producing the policy predictably resulted in unanimous adoption, which has cumulated in several projects completed and on-going in the industry.

Meanwhile, the extended Departures Halls feature 5 nos state –of-the-art screening machines and 2 nos Body Scanner at each of the wings in addition 30 nos new immigration counters.

A distinguishing feature of the new screening machines is the ability to detect explosive materials and potential threat items real time with the lowest rate of false alarm.

The introduction of 30 nos new immigration counters as against the previous 9 nos promises to take the face of facilitation in MMA to another level. 

Also inspected were the newly installed in-bound baggages reclaim carousels at each of the Arrivals Halls.

The high- speed carousels are smooter, easier – to- maintain and more resistant to luggage jams than their decades – old predecessors.

This translates into accelerated baggage retrieval, reduced waiting – time and improved travel experience.

Highlight of the visit was the inspection of the on-going construction of 2 new additional fingers as well as new Transit Facilities.

The visit afforded journalists the opportunity to appreciate, first hand, the cause of some leakages experienced at the Terminal some time ago.

Briefing the Minister, the Director of Maintenance and Engineering & Engineer Femi Ogunode, acting managing director of FAAN,  explained that the construction work on the new Fingers affected the sealant on the existing Terrance on which the Fingers are built, resulting in dripping of water in some sections of the Terminal.

He said measures have been put in place to check the so-called leakages, promising that services levels in the airport will continue to be tailored to passengers needs.

The two new additional Fingers located on the 2nd level of the Terminal building and each measuring 3,074 sq m, and seating atop the existing Fingers represent a major capacity increase with all the attendant benefits.

Hitherto, arriving and departing passengers made common use of the Fingers, although with a glass partition separating them. With the new development, each of the two new Fingers will be exclusively for Departures while the existing ones will be dedicated to Arrivals, thus enhancing safety, security, and facilitation.

The Transit Facility, located on the 3rd floor of the Terminal building, features 9 standard lounge, and 20 hotel rooms for transiting passengers’ Transit Facility is a major requirement for a hub operations. With this development, MMA is set for a sub –regional hub status in line with President Goodluck Jonathan’s vision.
 

 


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General News

Nigeria’s BNPL Market is Projected to Value @ $2.6B by 2030

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Nigeria’s Buy Now, Pay Later (BNPL) market is on a fast-growing trajectory and is predicted to be valued $2.61 billion by 2030, up 83% from $1.42 billion in 2024, owing primarily to the rapid emergence of fintechs in the country.

This observation was stated in EnterpriseNGR’s State of Enterprise 2025 report, which focuses on how fintechs are reshaping Nigeria’s business landscape through digital innovations, accessible credit systems, and mobile-first financial tools.

As a credit system, BNPL allows users to stagger payments for products and services, making it a key development driver in Nigeria’s developing digital economy.

From 2021 to 2024, the BNPL experienced a compounded annual growth rate of 23.1%. Fintechs have contributed to the rapid growth by providing a range of flexible loan alternatives for e-commerce, retail, and services, bridging financial gaps for millions of disadvantaged Nigerians.

The report highlights how fintechs have contributed to Nigeria’s flexibility and resiliency by simplifying digital payments, automating invoicing and payroll systems, and democratising credit through platforms such as Renmoney and FairMoney.

The report also shows a significant rise in remittance inflows into Nigeria following the Central Bank of Nigeria’s 2024 policy adjustments.

According to the report, by 2024, Nigeria boasted over 400 licensed digital lenders who extend collateral-free credit to those commonly excluded by banks.


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General News

FG, Netherlands Partner on Digital Migration for NIS

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The Nigeria Immigration Service (NIS) strengthened bilateral relations with the Netherlands’ government through an agreement targeted at improving migration governance and border security.

This partnership was confirmed during a meeting at the NIS headquarters in Abuja, which was attended by a Dutch team led by Jurgen Bartelink, Chargé D’Affaires of the Embassy of the Netherlands in Nigeria.

The meeting focused on increasing bilateral migration cooperation and came after the comptroller general of Immigration, Kemi Nandap, paid a working visit to the Netherlands.

Under the agreement, the Dutch government pledged to continue supporting technology-driven solutions targeted at boosting Nigeria’s border control systems and improving migration management.

During the Netherlands Embassy diplomats handed over essential operational tools, such as Edison Software licence keys and the Passport Examination Programme Manual App.

According to NIS spokeswoman ACI Akinsola Akinlabi, “The partnership focuses on enhancing bilateral collaboration on migration management and reviewing ongoing capacity-building efforts.”

Bartelink, Chargé d’Affaires of the Netherlands Embassy in Nigeria, underlined the Netherlands’ commitment to helping Nigeria’s continuing border security and migration reforms.

Also speaking, Rob Bokhoven, head of international affairs, repatriation, and deportation services at the Dutch Ministry of Justice and Security, emphasised the country’s strong bilateral relations and announced plans to share a mobile border software solution with the NIS.

Receiving the equipment, Nandap said the delivery of the gadgets would boost West African country’s border security, significantly improve the service’s document verification border management capabilities and support the implementation of Nigeria’s National Migration Policy.

“The engagement will further reinforce the strategic partnership between Nigeria and the Netherlands advancing shared goals in migration governance, border security and international cooperation,” she added.


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AfDB Cuts Nigeria’s Growth Projection to 3.2%

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Peter Enogb, principal country economist, African Development Bank (AfDB), says the rise in global uncertainty, emanating from increases in global trade tariffs, has slowed Nigeria’s projected growth to 3.2% in 2025.

“Without this level of heightened uncertainty, our projections would probably have been somewhat higher. We’ve reduced our projections for Nigeria. We initially were projecting 3.5% – 3.6% growth in 2025.

“But given the current situation, our models are showing that we’re taking a more cautious approach. So that’s why we produced this and, of course, the main driver is uncertainty in the global economy,” Enogb said.

He said this at the launch of the 2025 Nigeria Country Focus Report (CFR) on Thursday.

AFDB projected that real GDP growth would hit 3.1% in 2026. Following the 2024 consumer price index (CPI) rebasing, with lower weights for food items, the inflation rate is expected to reduce over the medium term to 24.7% in 2025 and 17.3% in 2026.

As imports start to rise over the medium term, the current account is projected to decline to 3.9% of GDP in 2026.

The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation slowed for the second consecutive month to 22.97% in May. This is down from 24.48% at the start of the year

This is contrary to the World Bank projection that Nigeria’s economy would record steady growth of 3.6% despite the shift in the global trade dynamics.

Joseph Ogebe, head of research and development at Nigerian Economic Summit Group (NESG), also said that global uncertainty had been very high in recent times, resulting from the Trump 2.0 effect.

“And also with the recent war between Israel and the international community, we’ve seen what’s happening to oil prices. Even with the call-off of the war, we’ve seen the effect on oil prices too, which has implications on the fiscal side. So it has implications for the general economy,” he said.

The head of research at NESG said that rather than focusing on just growth, what should be looked at is a strategy called growth with depth.

“Growth with depth means that your growth must be diversified, export-led, productive, and technologically driven,” he said.

Ogebe said that if the Government works towards adopting a strategy of growth with depth, there is a tendency for the government to move towards its goal of achieving a $1 trillion economy by 2030.

The report revealed that the country’s recent policy moves, including fuel subsidy removal, exchange rate unification, and tax reforms, reflect a commitment to long-term transformation.

However, it also pointed out that at about 13%, Nigeria’s tax-to-GDP ratio is among the lowest in West Africa, noting that fiscal reforms are urgent.


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