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General News

Passenger Traffic Maintains Strong Growth in October

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Tony Tyler, IATA DG and CEO
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International Air Transport Association (IATA) announced global passenger traffic results for October showing a strengthening in demand growth compared to September 2014 and to the year-ago period.

Total revenue passenger kilometers (RPKs) rose 5.7% over October 2013, slightly ahead of the 5.2% year-on-year rise recorded in September 2014. October capacity (available seat kilometers or ASKs) increased by 5.5%, causing load factor to rise 0.1 percentage points to 79.1%.

“Against a backdrop of economic weakness in some regions, October traffic results show demand for connectivity remains strong on a global basis,” said Tony Tyler, IATA’s director general and CEO.

“With 2014 drawing to a close, the outlook for air travel remains largely positive. Improvements in economies in Asia-Pacific and the US are offsetting weakness in the Eurozone and China. The fall in oil prices, if sustained, could provide a much-needed operating cushion. But there are risks which must also be accounted for—including the proliferation of political instability,” said Tyler.

International Passenger Markets

October international passenger demand rose 5.5% compared to the same month last year, with airlines in all regions except Africa recording growth.

Capacity climbed 6.4% and load factor dipped 0.6 percentage points to 78.0%.

European airlines saw demand increase by 5.8% in October versus October 2013, the strongest growth among the three largest regions.

Although there has been some slowdown in the Eurozone economy, travel on low cost carriers has remained robust and is helping sustain current results. Capacity rose 5.0% and load factor climbed 0.6 percentage points to 81.9%, highest among regions.

Asia-Pacific carriers’ traffic rose 5.5% compared to the year-ago period, reflecting stronger regional trade activity which encourages business travel.

The economic slowdown in China has yet to have any impact on regional trade activity and related business travel. Capacity rose 7.4% and load factor dropped 1.4 percentage points to 74.9%.

North American airlines experienced a 1.8% rise in traffic compared to October a year ago. While a slowdown compared to September year-over-year growth, underlying trends in business activity are positive and growth in trade volumes has accelerated.

Capacity rose 3.2%, which caused load factor to dip 1.1 percentage points to 80.3%.

Middle East carriers’ demand climbed 10.3% in October, the largest increase for any region, reflecting strong regional economies with rising export activity that supports regional trade and related international business travel.

Capacity climbed 13.5%, causing load factor to fall 2.1 percentage points to 73.5%.

Latin American airlines saw traffic climb 6.5% compared to October 2013, second best among regions. Capacity rose 6.0% and load factor rose 0.5 percentage points to 80.5%.

The weak growth in the Brazilian economy may be deteriorating further but regional trade volumes have been improving.

African airlines’ traffic contracted 1.6% in October, while ASKs slipped 0.1%, resulting in a 1.0 percentage point drop in load factor to 66.8%, the lowest for any region.

The weakness reflects adverse economic developments in some parts of the continent.

However, the improving outlook for South Africa could ease some of the downward pressure on the continent’s carriers.

Additionally, the effect of any Ebola-related traffic downturn is mostly restricted to Guinea, Liberia and Sierra Leone, markets that comprise a very small proportion of overall African traffic.

Domestic Passenger Markets

Domestic travel demand rose 5.8% in October compared to October 2013, with the strongest growth occurring in China and India. Total domestic capacity climbed 4.0%, and load factor rose 1.4 percentage points to 81.1%.

China’s domestic demand rose 10% in October compared to a year ago, a solid result in view of indicators suggesting that the economy is starting to slow.

Indian domestic traffic climbed 16.3%. Although this was a considerable slowdown compared to September year-over-year growth of 26.4%, it was still a strong result and reflects market stimulation by local carriers.

The Bottom Line

“This weekend marks International Civil Aviation Day. And next month will begin the second century of commercial aviation. These are fitting moments to pause and reflect upon the reliance of the global economy on connectivity. Even more important is the challenge to prepare for the future by ensuring that the industry has a smart regulatory environment, cost-efficient infrastructure and a reasonable tax obligation,” said Tyler.

 


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General News

Tripoint Travels Hosts Pre-GEC Brunch for Nigerian Delegates Ahead of Global Entrepreneurship Congress 2025

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In a vibrant celebration of national pride, global relevance, and entrepreneurial drive, Tripoint Travels, the official logistics partner of GEN Nigeria hosted an exclusive pre-congress brunch for Nigerian delegates attending the upcoming Global Entrepreneurship Congress (GEC) 2025.

Held at Tripoint’s Lagos headquarters, the event brought together top entrepreneurs, investors, ecosystem leaders, and government officials, including Dr. Peter Bamkole, Deputy Vice Chancellor, Pan Atlantic University; Dr. Olawale Anifowose, Managing Director of the Global Entrepreneurship Congress Nigeria (GEN Nigeria); Dr. Babangida Ruma from The Katsina State Enterprise Development Agency (KASEDA), Mrs. Uche Uzoebo, CEO of the Shared Agent Network Expansion Facilities (SANEF) Limited; Actor and influencer Mr. Umar Gombe; along with other distinguished guests and representatives from various government bodies, all in anticipation of their journey to Indianapolis, Indiana this June.

The Global Entrepreneurship Congress (GEC), Organized annually by the Global Entrepreneurship Network (GEN), the GEC brings together more than 5,000 participants from over 200 countries, including Entrepreneurs, Investors, Policymakers, Researchers, & Support organizations to build stronger entrepreneurial ecosystems worldwide. Since its inception in 2009, the GEC has become a cornerstone of international collaboration and entrepreneurial innovation.

This year’s GEC, hosted in partnership with the Indiana Economic Development Corporation (IEDC), marks the Congress’ return to the United States after 16 years. Held in Indianapolis from June 2–5, 2025, the event aims to spotlight Indiana’s pro-growth business climate while strengthening global ties that promote sustainable economic development and innovation.

The brunch allowed the delegation to connect in an intimate and engaging setting, sharing expectations, ideas, and goals ahead of one of the most impactful convening in the global entrepreneurship calendar. Designed to build camaraderie, align visions, and foster a sense of shared identity, the event emphasized the importance of collaboration as Nigerian representatives prepare to take the global stage.

“The Global Entrepreneurship Congress is not just a conference, it’s a platform that is deliberate about  global innovation meeting local action, said Mrs. Shuhda Muhammed, Founder of Tripoint Travels. We wanted to set the tone for our delegates, to ensure that they feel connected to this year’s theme – The Bold Change the World, as well as foster the necessary collaborations to make that happen at the local and global stage.. As a company rooted in both logistics and empowerment, we are proud to play a role in making their journey seamless and meaningful.”

Speaking at the event, Dr. Olawale Anifowose, Managing Director of the Global Entrepreneurship Network Nigeria (GEN Nigeria), emphasized the significance of the Global Entrepreneurship Congress (GEC) as both a meeting point and a growth platform, where Nigerian entrepreneurs engage with global ecosystems to connect, learn, and thrive. He noted that Nigeria’s presence at the GEC is not just symbolic but essential, reflecting the country’s growing influence in the global entrepreneurial landscape. Dr. Anifowose also commended Tripoint Travels for their pivotal role as a trusted partner in mobilizing Nigeria’s brightest talent and making the journey to GEC 2025 a reality.

GEN Nigeria has emerged as a critical force in supporting entrepreneurship at the grassroots and policy level, and with a Partner as Tripoint Travels, its expansive network and initiatives, continues to actively shape the country’s innovation landscape, championing inclusive growth, and equipping thousands of Entrepreneurs with the tools, exposure, and networks needed to succeed in both local and international markets.

With delegates selected for their contributions to Ecosystem building and Entrepreneurship, Nigeria’s representation at The GEC 2025 would reflect the country’s diversity, resilience, entrepreneurship spirit and creative potential. The presence of Founders and Innovators like Mr Rotimi Awofisibe – MD, VFD bank, one of the officially invited participants, is testament to Nigeria’s growing influence in the Global Entrepreneurship arena.

“We’re proud to be a longstanding partner of GEN Nigeria, supporting the Entrepreneurs shaping Nigeria’s future. Attending the Global Entrepreneurship Congress (GEC) is about learning, contributing, and returning with a renewed, broader vision. It’s through committed partnerships like ours that such visions become reality,” said Mrs. Muhammed.

More than just a travel management company, Tripoint Travels is a trusted enabler of dreams, mobility, and opportunity. As GEN Nigeria’s official travel partner for GEC 2025, Tripoint is overseeing every aspect of the delegation’s journey, from visa coordination and flight logistics to accommodation and ground transportation, ensuring a seamless and empowering experience.

Tripoint Travels also extends its commitment to ecosystem development through Tripoint Academy, its nonprofit arm that supports early-stage entrepreneurs with training, mentoring, and access to local and global opportunities. Tripoint’s partnership with GEN Nigeria reflects its broader mission: to use travel as a tool for empowerment, education, and national development.

“Every single ticket we issue is a bridge, a bridge between where someone is now, and where they’re meant to be,” added Mrs. Muhammed. “We don’t just book travel. We open up the world for Nigerian entrepreneurs.”

The highlight of the Pre-Congress brunch was the piece of art done by all the delegates present at the event. The interactive art was introduced as an inclusive way to showcase the multiculturalism and pivotal position of the Nigerian business mind, and so the essence of the Nigerian delegation materialised through the painting. The art work will be exhibited and gifted at a special event during the Congress.


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General News

FG to Provide High-fibre Internet in 12 Universities by Year End

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Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, on Wednesday said that no fewer than twelve federal universities will benefit from high-fibre digital infrastructure before the end of the year.

In addition, some Nigerian universities are set to begin enjoying 24-hour electricity supply to enhance teaching, research, and learning on campuses, according to the Minister of Education, Dr. Maruf Alausa.

Dr. Tijani disclosed this at the commissioning of a High-Fibre Digital Facility at the University of Abuja’s old Boys Hostel. He said the initiative aims to equip students with digital skills and access needed to explore emerging opportunities in the global tech ecosystem before graduation.

Citing examples of young Nigerians who have successfully built billion-dollar online payment firms, Dr. Tijani urged students to leverage the digital infrastructure being provided by the current administration to develop themselves and build a future in tech.

The project is a collaboration between the federal government, Galaxy Backbone Nigeria Ltd, Huawei Technologies Nigeria, and other tech firms. It will deliver free Wi-Fi services across campuses, serving as a digital equalizer for students.

Present at the inauguration were the Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa; the National Commissioner for the Nigeria Data Protection Commission, Dr. Vincent Olatunji; the Managing Director of NigComSat, Mrs. Jane Egerton-Idehen; and the Postmaster General of the Federation, Mrs. Tola Odeyemi.

Also the Vice chancellor of the University of Abuja, Prof Patricia Lar and the institution’s Registrar and the Managing Director of Huawei Technologies Nigeria, Mr Teorens Wu attended the event.

Dr Tijani further said digital inclusion was necessary especially for the students to navigate contemporary challenges and become successful in the digital space without waiting for white collar jobs on graduation.

He said the University was the first of the seven universities for the first phase of the pilot scheme. And that by the end of June, they would have connected the seven universities for the first phase.

“This initiative we are launching here today is the first of the seven in a pilot scheme, and by the end of July, we will have connected the seven universities”, he said.

“Galaxy Backbone has the infrastructure in place already; all we are doing is to take the fibre to hostels,” the Minister added.

“Your challenge today is what you do with the knowledge that you’re being given. And this is why to actualise the dream of our president, we’ve taught it to be important that Nigerian university students cannot continue to learn without access to meaningful connectivity.

“It is unacceptable because we know when we give you this access that not only are you going to be better in what you’re learning, but you’re actually going to create the future that our president is asking that we create as a nation”, Dr Tijani said.

Dr. Alausa, on his part, noted that the University was a special institution selected by the government to enjoy a 24-hour power supply. And that other special institutions will enjoy 24hrs power before the end of 2026.

“The president is energising institutions. We have special institutions in the country today enjoying 24-hour electricity via the presidential renewable mini-grid project, the solarisation project.

“The University of Abuja is one of the beneficiaries. You have a 3.3 megahertz mini-grid here and everybody can attest to it now that you have a 24-hour electricity supply.

“The president is not stopping there. Before the end of next year, all the special institutions will have a mini-grid. You will all enjoy a 24-hour electricity supply, “Dr Alausa said.

The Acting Vice Chancellor, University of Abuja, Prof. Patricia Lar in her welcome address described the project as a laudable one that would benefit the school community.

“It’s a special initiative that’s going to create opportunities for students of all economic status to access data to be able to use for knowledge and education, and to feed their creativity with ease.

“We are grateful for deploying fibre to our hostels. This also works with the solar power backup that has been installed in our campus,” she said.


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General News

Nigeria Approves $500m for AfDB’s Trust Fund Replenishment over Next 15 Years

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Nigeria has approved a fresh $500 million replenishment of the Nigeria Trust Fund (NTF) at the African Development Bank (AfDB), extending the facility for another 15 years.

President of the AfDB, Dr. Akinwumi Adesina, announced this during his opening remarks at the ongoing AfDB Annual Meetings in Abidjan as he expressed deep appreciation to President Bola Ahmed Tinubu and Vice President Kashim Shettima for their continued support.

“To President Bola Ahmed Tinubu and to Vice President Kashim Shettima, for your support over the past two years, I am profoundly grateful. Thank you for graciously approving the replenishment of the Nigeria Trust Fund for another 15 years for $500 million.”

The Nigeria Trust Fund (NTF) was set up in 1976 through an agreement between the Nigerian government and the African Development Bank Group. It’s a revolving fund that sustains itself over time and is designed to support the development of low-income African countries in need of concessional financing.

The fund can be used in a number of ways—either to co-finance projects alongside the African Development Bank and the African Development Fund (ADF) or to finance projects independently. It supports both public and private sector initiatives and can also be used to top up funding for ongoing Bank Group-backed projects.

Unlike the ADF, which allocates funds to countries, NTF resources are tied to specific projects. This allows for more flexible, needs-based support where it’s most effective.


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