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Airlines Conspiring to Take Air Peace Out of Business-  CEO

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Allen Onyema, chief executive officer of Air Peace , has claiimed that some airlines are conspiring to take his company out of business by underpricing the flight tickets for the Lagos-London route.

Airlines Conspiring to Take Air Peace Out of Business-  CEO

Speaking on the Channels TV evening program, Politics Today, Onyema revealed that the significant reduction in international airfares by foreign carriers operating on the route is a deliberate attempt to prematurely remove Air Peace from the market.

The CEO pointed out that before Air Peace entered into the Nigeria-UK route, foreign airlines were charging exorbitant prices, citing business class tickets costing as much as N17 million and economy class reaching N5 million.

However, shortly after Air Peace began operating on the Lagos-London route, foreign airlines drastically reduced their fares, despite no significant change in the exchange rate between the dollar and the Naira.

Onyema expressed his frustration, stating, “The foreign airlines were taking between N15-N17 million for business class, N6 million for premium economy, and N5 million for economy. Then Air Peace came on, charging N4.5 million for business class, and economy class starting from N1.2 million. Now Air Peace did this, everybody has came crashing their prices from N18 million to N5 million. Dollar did not change.”

He further elaborated that foreign airlines are conspiring to cut their fares to levels below their break-even point, with the aim of pushing Air Peace out of the Nigeria-UK route. Onyema warned that if these tactics succeed, Nigerians would face considerably higher fares than the current rates.

Air Peace launched its Lagos-London route on March 30 to provide quality travel experiences and make international trips more affordable for Nigerians.

Since commencing its UK service, Air Peace has offered competitive rates, with economy class fares starting at N1.2 million, significantly lower than the N3-5 million usually charged by foreign carriers. Business class tickets are priced at around N4.5 million, well below the N15-N18 million rates of foreign airlines.

Onyema also disclosed that since the airline began its direct flights from Lagos to London a few weeks ago, Gatwick Airport has allegedly frustrated its operations, aiming to impede its activities in the UK. He cited challenges with ground handling and space allocation at Gatwick Airport as proof of these retaliatory actions.

On the inaugural flight out of London, Onyema claimed that Gatwick Airport management moved Air Peace to a different checking area and assigned a malfunctioning baggage carousel, leading to delays and inconvenience for passengers.

Additionally, the CEO revealed that the boarding gate in the reassigned terminal collapsed on the day of Air Peace’s flight, further compounding the airline’s challenges at the London airport.

Onyema acknowledged the support received from the Federal Government, particularly from Festus Keyamo, minister of Aviation and Aerospace Development, in launching Air Peace’s Lagos-London route successfully.

However, he called on the government to intervene against foreign airlines that are slashing fares below their break-even points, aiming to force Air Peace out prematurely.

He suggested that the government could assist Air Peace by reducing its operational charges, thereby providing the airline with a better opportunity to compete against foreign carriers backed by their governments.

 

 

 

 

 

 

 

 


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New Horizons Invests N50m to Empower Almajiris with Skills

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New Horizons Nigeria has launched a N50 million initiative aimed at transforming 21 Almajiri children into skilled computer technicians within 90 days, to tackle youth unemployment and harness human potential.

The Almajiri-to-Tech programme, officially launched in Abuja on Monday, provides participants with full training, meals, clothing, tools, and logistics support, all fully funded.

Speaking at the launch, the Chief Executive Officer of New Horizons, Tim Akano, said the programme represents a new journey in the history of Nigeria by restoring the original purpose of the Almajiri system, which he described as “children sent out to seek knowledge.”

“The word Almajiri comes from an Arabic term meaning emigrant and seeker of knowledge. Historically, children were sent to learn morals, responsibility, and skills to add value to society,” Akano said.

He added that the disruption of this system during colonial times forced many children onto the streets, a challenge that persists today.

Akano highlighted the urgency of addressing the Almajiri issue, noting that there are an estimated 15 million Almajiris in the country, with a population growth rate of around three per cent annually.

“If we do not solve this problem as a country, we are sitting on a time bomb,” he warned.

According to him, the programme focuses on hands-on technical skills rather than theory. Trainees will learn to repair mobile phones, laptops, televisions, radios, standing fans, and other electronic devices, as well as build inverter batteries using recycled electronic waste.

“We are not teaching theory. We are teaching practical skills you can use to earn a living,” Akano said, stressing that the programme will not interfere with the participants’ Quranic education.

“We are still going to allow you, within the period of learning. Your learning computer here is not stopping your Quranic education.

“You still have time within our space here. Whenever you want to go and pray, you can pray, then come back to class,” the CEO stressed.

He added that participants will also receive daily meals, water, T-shirts identifying them as technicians-in-training, and access to all necessary tools and equipment throughout the 90-day programme.

Akano said the initiative is part of a larger mission by New Horizons Nigeria, which has spent the past 21 years training about 100,000 Nigerians annually in IT and related skills.

He said the new programme aims to “take human genius off the streets and convert it into human capital, enabling these youths to contribute meaningfully to the economy.”

He added that equipping Almajiris with skills could add 15 million people to Nigeria’s workforce and potentially increase the country’s GDP by as much as $20 billion, stressing that productivity depends on practical skills and opportunity.

“Everything that can be taught can be learned. If someone can memorize the Quran cover to cover, there is nothing that cannot be done. What they lack is information, opportunity, and infrastructure, and we are providing all of that,” Akano said.

Akano also stressed that the initiative is designed to inspire other organizations and government agencies to replicate similar programmes across the country.

“This is not just about 21 children; it is about showing Nigeria what is possible when resources meet intention and planning.

“If we succeed in empowering these Almajiris, we demonstrate that the country can turn social challenges into economic opportunities. It’s a blueprint for Nigeria’s future,” he said, noting that the initiative combines social reform, technical education, and economic empowerment.

Also speaking, one of the trainees, Fatima Umar, appreciated the organisers and promised to maximise the opportunity.

“We’ll make you proud of us. We have nothing to say here but to thank and appreciate you. May Almighty Allah continue to guide and protect you,” Umar said.


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IMF Upgrades Nigeria’s 2026 Growth Projection to 4.4%

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International Monetary Fund has upgraded Nigeria’s 2026 economic growth projection to 4.4 per cent, reflecting improved macroeconomic stability and sustained reforms.

IMF Upgrades Nigeria’s 2026 Growth Projection to 4.4%

IMF

The January 2026 World Economic Outlook Update forecasts Nigeria’s growth trajectory at 4.1 per cent in 2024, 4.2 per cent in 2025, and 4.4 per cent in 2026—a 0.2 percentage point increase from the October 2025 estimate.

This aligns with sub-Saharan Africa’s projected 4.6 per cent expansion in 2026 and 2027, driven by regional stabilisation efforts.

Globally, the IMF anticipates 3.3 per cent growth amid resilient conditions tempered by trade policy shifts and technology investments. For Nigeria, declining energy prices—expected to fall seven per cent due to weak demand—pose risks, though OPEC+ coordination and China’s stockpiling provide support.

Despite the optimism, downside risks persist from Middle East and Ukraine tensions, protectionism, high debt, and fiscal deficits. The Fund recommends rebuilding fiscal buffers, ensuring central bank independence, and limiting temporary fiscal measures to maintain stability.

Nigeria’s success hinges on consistent reforms and resilience against domestic and global shocks, the IMF concluded.


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Nigeria’s Crude Output Falls to 1.486mbpd in November – OPEC

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Organisation of Petroleum Exporting Countries (OPEC) reports that Nigeria’s crude oil production, excluding condensate, dropped by 0.7 per cent to 1.486 million barrels per day (mbpd) in November 2025 from 1.496 mbpd in October.

Nigeria’s Crude Output Falls to 1.486mbpd in November – OPEC

OPEC

The figure, drawn from secondary sources in OPEC’s December 2025 Monthly Oil Market Report, fell short of Nigeria’s 1.5 mbpd quota. Direct communication data showed output at 1.436 mbpd, up from October’s 1.401 mbpd, but still below target.

Nigeria produces around 196,028 bpd of condensate, excluded from quota calculations per Nigerian Upstream Petroleum Regulatory Commission figures. Year-on-year, November’s output marked a slight gain over 1.417 mbpd in November 2024.

Expert Cites Insecurity, Governance Gaps

Petroleum economics expert Wumi Iledare described the quota miss as unsurprising, blaming persistent insecurity, an ageing oil basin lacking new finds, and unoffered hydrocarbon blocks. Governance shortcomings and policy uncertainty further erode investor confidence, he noted.

Selective implementation of the Petroleum Industry Act worsens the situation, with Nigeria needing a single authoritative leader for the sector rather than multiple proxies, Mr Iledare stressed. The country has struggled to consistently hit OPEC targets for years.


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