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Keyamo Says FCCPC Made ‘Careless’ Statement on Air Peace’s Airfares

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Festus Keyamo, minister of Aviation and Aerospace Development, has strongly condemned the Federal Competition and Consumer Protection Commission (FCCPC) for its recent statement regarding Air Peace’s airfares, describing the remarks as “very careless.”

Keyamo Says FCCPC Made ‘Careless’ Statement on Air Peace’s Airfares

 

The criticism comes after the FCCPC, on December 1, announced its intention to probe Air Peace over significant price hikes on advance bookings for certain domestic routes.

During an appearance on Arise News’ This Morning show on Sunday, Keyamo expressed his concerns about the FCCPC’s handling of the situation, asserting that the commission should have consulted the Nigeria Civil Aviation Authority (NCAA), the primary regulatory body responsible for overseeing the airline sector, before making such a public statement.

“I think it was a very careless statement — I say that with all apologies — by the agency, without even consulting the core agency involved in regulation, which is the NCAA,” Keyamo remarked.

“The powers to regulate for the airline to inform about their price increase and all that is domiciled in NCAA, that is the core agency. We cannot have an agency of government floating all over the place, having all the powers; that means if there’s a problem with yam pricing, they will go and call the agricultural minister. I don’t think their powers are stretched to that point, but I say that with apologies because also I’m a minister of government.”

Keyamo emphasised that the FCCPC should have reached out to the NCAA for a proper review of the situation.

“They should have contacted the NCAA for them to look at the figures and the books which we have been doing, so we would have given them facts,” he continued.

“But to single out a few airlines while we are struggling to expose them to the world for them to get more enhanced capacity was a bit careless.”

The minister also pointed to the larger challenges plaguing Nigeria’s aviation industry, specifically the limited capacity of airlines to acquire aircraft and service domestic routes effectively.

Keyamo noted that the real issue facing Nigerian airlines goes beyond the maintenance of existing aircraft and lies in the complexities of leasing new ones, a situation compounded by the volatility of the foreign exchange market.

“Nigeria’s own is even in a more precarious position because it is not about maintaining the aircraft alone, but in terms of renting the aircraft itself, which is what they call ACMI (Aircraft, Crew, Maintenance, and Insurance),” Keyamo explained.

“An ACMI contract, also known as wet or damp leasing, is an agreement between two airlines, where the lessor provides an aircraft, crew, maintenance, and insurance to the lessee in return for payment based on the number of block hours operated.”

According to Keyamo, most Nigerian airlines operate on ACMI contracts, which are priced in foreign currencies, making them susceptible to fluctuations in exchange rates.

“When you take them on lease, you take them with the aircraft, the crew, insurance, and everything, all of these are in foreign exchange,” the minister said.

“With the fluctuating nature of our Naira against the dollar, you expect that it will affect their cost of operation.”

To address these financial pressures, Keyamo explained that the government is actively working to improve the conditions for Nigerian airlines, particularly by exposing them to international markets where they can access better terms for leasing aircraft.

“What we are therefore doing is ensuring that we expose them to the market across the world, where they can now assess aircraft on very good terms. This will impact the prices of tickets and their cost of operation,” he noted.

The minister further clarified that these efforts are aligned with broader initiatives to address the sector’s challenges, particularly the application of the Cape Town Convention.

 

“That is what led us to addressing the issue of the practice direction pursuant to the Cape Town Convention,” he stated. “That is the core of the problem of the aviation industry, and this president and the vice president graciously supported us to get to.”

Keyamo’s remarks, stakeholders note, highlights the complexities facing the Nigerian aviation industry and the importance of a coordinated and informed approach to regulation and policy-making.

Before Keyamo’s comments, the FCCPC had expressed deep concern over recent comments by Air Peace, which it believed were part of a strategy to obscure the ongoing investigation into potential consumer rights violations, including exploitative ticket pricing.

Last Thursday, the Commission refuted a misleading media report that misrepresented a meeting between FCCPC officials and the Air Peace team on December 3, at the Commission’s Abuja headquarters.

The meeting, which was part of a larger investigation following numerous passenger complaints, was intended to address these concerns in a confidential manner.


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UK–Nigeria Skills and Schools Trade Mission Concludes with Strong Foundations for Education Partnership

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A high-level UK delegation has concluded a week-long skills and schools trade mission to Nigeria, marking a significant step forward in education and skills cooperation between the two countries.

Running from 19-23 April 2026 across Abuja and Lagos State, the mission brought together leading UK private schools, skills providers, and education institutions with Nigerian partners, schools, and the Honourable Minister of Education Dr Tunji Alausa.

The mission follows the high profile and well received state visit to the UK in March, which also included education engagements.  Supported by the UK’s Department for Business and Trade (DBT), the mission forms part of its new International Education Strategy, under which Nigeria has been identified as one of five priority education markets, spearheaded by Professor Sir Steve Smith, who is looking forward to visiting the country again this year.

The mission focused on in-country delivery of education, the establishment of world-renowned UK schools in Nigeria, and the development of skills and Technical and Vocational Education and Training (TVET) systems aligned with industry demand.

In Abuja, the delegation met with Nigeria’s Honourable Minister of Education, Dr Tunji Alausa, securing strong political backing for UK–Nigeria education partnerships and set the groundwork for ongoing institutional collaboration across both schools and skills.

In Lagos, delegates engaged further with potential partners and investors. In both cities the delegation was thrilled to visit local British curriculum schools and colleges to further enable them to experience first-hand the teaching and learning environment.

British Deputy High Commissioner, Jonny Baxter, said: “The UK and Nigeria share a deep and longstanding relationship, and opportunities in education are one of its most exciting frontiers.

“This mission has demonstrated the strong appetite on both sides to deepen collaboration in education and skills.”

“By bringing together UK schools and skills providers with Nigerian partners and policymakers, we are laying the foundations for even more long-term partnerships that support Nigeria’s education priorities, strengthen skills aligned to industry needs, and create opportunities for sustainable, in-country delivery as well as positioning Nigeria as the regional hub for high quality education.”

DBT Head of International Education, Sarah Chidgey, said: “This mission is a perfect example of the International Education Strategy being put into action, building on multiple two-way visits and the UK and Nigeria’s warm relationship. It has been heartening to see all the progress in UK Nigeria education collaboration since my first visit to Nigeria, as part of a wider delegation, in 2022.”

DBT’s mission concluded with a strong pipeline of follow-up activity, including targeted one-to-one meetings, MoU discussions, and agreed next steps between UK and Nigerian counterparts.

 


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Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

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President Bola Tinubu has requested Senate approval for a $516.3 million foreign syndicated loan to fund key sections of the Sokoto-Badagry superhighway, a cornerstone of his Renewed Hope Agenda.

Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

Tinubu

 

In a letter read by Senate President Godswill Akpabio during Thursday’s plenary, Tinubu invoked Sections 16 and 21 of the Debt Management Office Act, 2011, to secure financing via Deutsche Bank AG for Sections 1, Phase 1A, and 1B. The 1,000-kilometre project will span Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, linking Illela to Badagry and boosting trade, connectivity, and goods movement.

The nine-year loan, with a three-year grace period and interest at SOFR plus 5.3 per cent, includes a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). The Federal Government will provide over ₦265 billion in counterpart funding for land acquisition and infrastructure.

Akpabio referred the request to the Senate Committee on Local and Foreign Debts for a one-week turnaround report. He endorsed the borrowing, stating it advances road safety and national integration.

The highway aims to cut travel times and stimulate economic corridors, with the Federal Executive Council already approving the plan.


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Karex, World’s Top Condom Maker to Hike Prices due to Iran war

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Karex, world’s largest condom maker, plans to raise prices by up to 30 percent due to supply disruptions linked to the Iran war.

Karex, World's Top Condom Maker to Hike Prices due to Iran war

This means that safe sex could get more expensive if the war continues to disrupt global supply chains, according to Goh Miah Kiat, CEO, Karex.

Kiat told old Reuters that rising freight costs and shipping delays have increased demand and forced the company to pass costs to customers.

Broader supply chain issues and higher oil prices could impact many everyday products that rely on petrochemicals.

“The situation is definitely very fragile, prices are expensive… We ​have no choice but to transfer the costs right now to ⁠the customers,” Goh told Reuters.

Karex joins a growing list of companies that are bracing for supply chain disruptions amid the ongoing war in Iran.

Based in Malaysia, Karex produces condoms, personal lubricants, gloves, medical catheters and probe covers.

The company manufactures male latex condoms including ONE, Trustex, Carex and Pasante, and it can produce over 5 billion condoms annually. Karex also exports to more than 130 countries, according to its website.

“We’re seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required,” Goh said.

 


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