General News
Sirika Unfolds Vision for Nigerian Aviation

Senator Hadi Sirika, minister of State, Aviation has unfolded the vision and strategies of the President Mohammad Buhari administration for achieving a quantum leap forward for the Nigerian Aviation industry. First, he made it clear that Aviation” is pivotal to the growth of key economic sectors, certainly not limited to travel and tourism. Agriculture production and distribution, rural development, trade and commerce, manufacturing, oil and other non-oil sectors.”
In what could be termed a comprehensive mission, Sirika had quite some surprises and a handful of seemingly simple solutions to longstanding problems and issues. One surprise: Government plans to concession four major airports to the private sector.
The Minister believes that by bringing in the private sector, the country can achieve better infrastructural development and improve the efficiency of service delivery at these airports. The airports in question are the international airports in Lagos, Abuja, Port Harcourt and Kano.
And it’s also the month of May, 2016, which makes it one year since this administration came on board, it was an opportunity for stock taking.
Sirika said that some of the challenges facing the country’s airports were that of obsolete equipment and dilapidated infrastructure; obsolete equipment and inadequate capacity. These challenges, according to him, are expected to be addressed by the newly initiated concession programme, the much awaited completion of five new, world class, ultra-modern airport terminals in Lagos, Abuja, Kano, Enugu and Port Harcourt later this year.
On the focus, the Minister said that “ the present administration is focussing on issues that will rapidly develop the aviation industry within the shortest possible time.” These issues, include aviation safety and security, infrastructural development, the establishment of a national carrier, lack of a world class aircraft maintenance, repair and overhaul,(MRO) facility in the country.
Others are: How to quickly develop our air cargo capacity in order to participate actively in multi-billion dollars global agro-allied export trade.
The restructuring of the country’s aviation agencies and the setting up of an aerospace University in the country.
In his usually forthright manner, Sirika states the administration’s position on all of these tough issues, perhaps, leaving no one in doubt about the policy direction of the Buhari administration as regards the aviation industry.
On safety and security at our airports, the minister was of the view that government’s response should include the development of a new security strategy framework in partnership with international security organisations, the determined implementation of a certification programme for all our airports and a comprehensive security threat and vulnerability assessment of our airports. The Minister of state recently inaugurated a technical committee with the mandate to look into security at the country’s airports.
On the vexed issue of a national carrier, Sirika was emphatic that the administration will establish a national carrier because of the benefits that the country would derive from it, especially from the various Bilateral and Multilateral air services agreements signed by the government with other countries, worldwide.
It would also help stem current capital flight due to foreign airlines exploiting the current absence of a Nigerian national carrier.
He said however, that the carrier will be floated on the stock exchange and listed whereby Nigerians can buy its shares and own it. Furthermore, to realise this laudable goal, he said that government would engage the services of a transaction adviser “to develop an appropriate business model and framework to establish a national carrier using a public/private partnership concept.” When in place, the national carrier would be expected to form alliances and joint ventures with other carriers, in order to increase its reach and routes, Sirika said.
There is also the issue of national prestige and national pride when talking about a national carrier, as some smaller African countries such as Ethiopia proudly fly their countries colours on their national carriers, many of which have become successful ventures, the Minister said.
On the appalling lack of a world class aircraft maintenance, repair and overhaul, (MRO)l facility in West and Central Africa, the Aviation helmsman challenges Nigerian investors to key into the bountiful opportunity.
He said that the current administration was determined to create an enabling environment that would provide an impetus to willing investors.
He hoped that such investors could go beyond only MRO but actually initiate the local manufacturing of light aircraft spare parts in the country, which would help save foreign exchange and create more jobs for Nigerians in-country.
The issue of air cargo facilities ties with the country’s hopes of generating more foreign exchange from agricultural produce and other non-oil exports.
As the Minister noted the country is current losing a lot in potential income from export of perishable agricultural produce including fresh flowers and vegetable as a result of the absence of adequate air cargo facilities.
Apart from generating forex, it has far reaching socio- economic impact as it will improve farmers’ income significantly and help stem rural to urban migration. Government is therefore working hard to meet this challenge, with several of the required facilities under construction in strategic areas round the country, Sirika noted.
The country’s target is to get 40 per cent of the market for agro-allied and perishable agric produce export coming from Africa to global markets, he said.
A thoroughbred and experienced air pilot himself, the minister noted, howbeit sadly, that many well trained professional aviators, especially pilots are unemployed. Whereas, on the other hand, their foreign counterparts are having a field day in the country working for foreign airlines operating in the country.
Not mincing words, the minister said that government would henceforth vigorously enforce expatriate quotas for staffing of foreign airlines operating in the country, so that foreigners do not continue to take jobs meant for Nigerians. And review the policy on validation of foreign licenses (no aviator left behind policy.)
The Minister said that it is a policy of the All Progressives Congress, APC administration to set up an Aviation Development Bank, which he said, will offer Nigerian aviation entrepreneurs long term, low interest loans in single digits to help finance their airline businesses. This, accordingly, will boost the growth of the industry and help create stability.
Other salient industry issues which the Minister addressed are that of the supply and pricing of Aviation Jet A-one fuel, sourcing of foreign exchange by airlines for their operations and aircraft leasing. On Jet A-1, Sirika said government has made arrangements to start local production of the fuel which is currently 100 per cent imported.
Discussions are also in top gear with the Central Bank of Nigeria, CBN to ease forex supply shortfall to airlines, especially foreign airlines because they operate and pay for several services in foreign exchange whereas, tickets are sold in naira locally, putting airlines at a disadvantage.
Sirika said that the administration will continue with the current policy of granting duty waivers on imported aircraft and spare parts, so as to support the industry. Further, government is well aware of financing difficulties faced by Nigerian airlines in the leasing of aircraft. They have limited access to capital even then at high interest rates of about 27 per cent currently. They are also faced with inadequate numbers of aircraft, while they have high debt profiles. The Minister said that the government intends to set up an aircraft leasing company to assist these Nigerian airlines, to have better access to leased aircraft for their operations.
Then, it was time to highlight some achievements of the Ministry of Transportation in the area of aviation, since last May(2015).
The Minister noted with pride that Nigeria passed the recent ICAO security audit of the country’s airports with flying colours at a score of 96 per cent.
The aviation industry similarly passed the ICAO Universal Safety Oversight Audit of the country, reflecting the enormous hardwork and expertise of Nigerian aviation authorities.
The Buhari administration has been able to provide bomb containment vessels at the Malam Aminu Kano International Airport Kano and at the Port Harcourt International Airport. The administration has also installed solar-powered field lighting systems at 10 airports round the country including Port Harcourt , Sokoto, Akure and Enugu. In addition, Air traffic control tower operations at the Malam Aminu Kano Airport have been automated, allowing for more efficient services.
The Minister of State rounded off by promising that the Nigerian aviation industry would soon have a master plan in place, which he said will be integrated into the National Integrated Infrastructure Masterplan, NIIMP. He said that the development of Nigerian aviation is “a joint responsibility of the public and private sectors.”
Above all, Sirika is confident that the Nigerian aviation industry” can become profitable, self-sustaining and beneficial to all stakeholders,” with our concerted efforts and cooperation.
• Yakubu Dati, spokesman of the Federal Airports Authority of Nigeria, wrote from Lagos
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General News
Nigeria Market Powers Jumia’s Momentum as E-commerce Platform Demand Accelerates

Nigeria powered Jumia Technologies AG’s strongest growth in 2025, cementing its position as the company’s most important market as rising consumer demand, SME activity and logistics expansion boosted performance across the e-commerce platform.

In the fourth quarter of 2025, Jumia’s Nigeria operations recorded a 50% year-on-year increase in Gross Merchandise Value (GMV) and a 33% rise in orders. The performance highlighted growing adoption of online shopping and Jumia’s increasing relevance to African consumers.
Nigeria’s momentum helped drive 36% year-on-year GMV growth and 34% revenue growth across the group in the quarter, alongside a 26% increase in quarterly active customers. Growth was supported by stronger customer retention and higher order frequency.
Beyond sales growth, Jumia said its Nigeria operations are delivering wider economic impact. The platform supports thousands of local SMEs, enabling them to reach customers nationwide, while continued investment in fulfilment centres and last-mile delivery is creating income opportunities for logistics partners and sales agents.
Efficiency gains were also evident. Fulfilment costs per order declined 12% year-on-year, contributing to a 39% reduction in operating losses and a 47% drop in adjusted EBITDA losses in the fourth quarter. Cash used in operating activities fell sharply to $1.7 million, compared with $26.5 million a year earlier, while liquidity stood at $77.8 million at year-end.
Temidayo Ojo, Chief Executive Officer of Jumia Nigeria, said the results reflect growing trust from consumers and businesses. “Nigeria is central to Jumia’s growth,” Ojo said. “Each order supports local sellers, delivery partners and jobs, while improving access to affordable products for consumers.”
For the full year, Jumia reported 14% GMV growth and 13% revenue growth, with losses narrowing significantly. Looking ahead, the company expects Nigeria to remain a key growth driver as it targets 27–32% GMV growth in 2026 and aims to reach adjusted EBITDA breakeven by the fourth quarter of 2026.
General News
PalmPay Celebrates Valentine with #LoveWithPalmPay Campaign

This Valentine’s Day, PalmPay is celebrating love in all its forms with the launch of #LoveWithPalmPay, a campaign highlighting how simple, everyday shared money moments can bring relationships closer.

Valentine’s Day is more than grand gestures; it’s built on the small, meaningful actions that shape relationships, sending timely support, saving together, or managing shared responsibilities. PalmPay encourages users to share 30–60 second real-life stories, either solo or duet style, showing how PalmPay always works and has helped them support or stay connected with someone they love.
The campaign runs from February 9th to 21st across Facebook, Instagram, X (formerly Twitter), and TikTok. Four winners will receive ₦100,000 each week for two weeks, totalling a prize pool of ₦800,000.
Entries can take many forms, including couple videos, solo stories, split-screen duets for long-distance couples, or voiceover narratives with photos or clips, making the campaign inclusive for married couples, parents, and long-term partners.
How to Participate:
- Share an authentic love story about your partner
- Clearly show PalmPay in action (transfers, savings, or other in-app activities)
- Be creative and emotionally engaging
- Post between February 9th – 21st with the hashtag #LoveWithPalmPay
- Share on any of PalmPay’s social media platforms
“Love evolves, and so do relationships,” said Olorunfemi Hanson, Head of Marketing and Communication, PalmPay. “From dating to parenthood, the small money moments we share every day play a big role in keeping us connected. With #LoveWithPalmPay, we want to celebrate those stories and show how PalmPay always works, making everyday love simpler, reliable, and meaningful.”
This Valentine’s Day, PalmPay celebrates love as it truly is real, intentional, and built on shared moments.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh. For more information, visit www.palmpay.com
General News
CBN, NCC Propose Instant Refunds for Failed Airtime, Data

Central Bank of Nigeria (CBN)and the Nigerian Communications Commission (NCC) have proposed that customers must receive refunds within 30 seconds for failed airtime and data purchases to curb persistent billing complaints in the telecommunications sector.

This was indicated in the Exposure Draft of the Joint CBN–NCC Framework for Resolution of Failed Airtime and Data Purchase Transactions, which was published on the website of the CBN on Monday.
The landmark exposure draft, dated 5 February 2026, seeks to “institutionalise clear accountability” and establish a “coordinated approach to consumer redress” across the financial and telecommunications sectors.
The most significant shift in the proposed framework is the introduction of standardised, automated timelines for resolving failed transactions.
Currently, Nigerians often face long delays when airtime purchases fail at the bank, aggregator, or Mobile Network Operator level.
To solve this, the regulators have proposed a 30-second window for automated reversals. Section 6.0 (ii) of the draft exposure, which dwelt on failed transactions, especially as it relates to unfulfilled airtime/data delivery, proposes a time to refund the purchaser of 30 seconds “if the transaction failed at the bank level… Failed transaction delivery from NCC Authorised Licensees… Failed transaction delivery from MNO to the NCC Authorised Licensee.”
The draft emphasised that stakeholders must “automate reversal processes across all stakeholders” to ensure that refunds require no human intervention from the customer.
The draft exposure also stated that “all parties involved in airtime and data transactions shall take the following actions to ease usage and facilitate consumer satisfaction: a. Stakeholders must immediately connect ONLY to relevant authorised licensees of the NCC and CBN. b. MNOs and banks must only connect to NCC Authorised Licensees/MNO digital channel partners for airtime and data vending… Notifications of failure create final settlement obligations between MNO and NCC-authorised licensees… The NCC and CBN will audit stakeholder compliance jointly or individually at quarterly or other intervals as may be determined.”
From a business and oversight perspective, the regulators are proposing a Central Monitoring Dashboard to be hosted jointly by the CBN and NCC, which will track reversals, Service Level Agreement breaches, and customer complaints in real-time.
“There shall be a Central Monitoring Dashboard hosted by CBN/NCC for tracking reversals, SLA breaches, and customer complaints. This will facilitate the establishment of a real-time national ‘Failed Transactions Dashboard’ with a uniform error code with end-to-end visibility across the value chain’, read the draft exposure.
This is designed to eliminate the “unclear ownership of liability” that often occurs when banks and telcos blame each other for failed recharges. To support this, banks and MNOs will be required to maintain and share daily reports of successful and failed cases.
The proposed framework also addresses the common problem of “lost” money when customers recharge ported phone numbers. The draft mandates that MNOs must validate a phone number against the ported number database before processing any recharge. If the system identifies a number as ported out or invalid, it must “proactively stop recharges” and send a failure code back to the bank to ensure the customer is not debited.
For erroneous recharges sent to the wrong person, the framework sets clear protocols: below N20,000, MNOs will request the recipient’s consent before a reversal, and when it is above N20,000, an affidavit of indemnity or notarised letter is required to process the recovery.
The CBN and NCC in the exposure draft signalled they will take a firm stance on compliance. Both agencies will conduct joint quarterly audits of all stakeholders, including banks, payment service providers, and MNOs, to verify compliance with the new rules. The regulators have warned they will “impose penalties for any breach” of the framework’s provisions.
Banks and other financial institutions have until 10 February 2026 to submit their inputs on the draft before it is finalised. Once implemented, the framework is expected to significantly restore “subscriber trust” in Nigeria’s digital financial ecosystem.
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