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FG Loses N100bn on Aviation Charges -Expert

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Capt. John Ojikutu (retd.), an aviation expert, says the Federal Government lost over N100 billion in Ticket Sales Charges (TSC) and Cargo Sales Charges (CSC) in the aviation sector between 2013 and 2017.

Ojikutu, a member of the Aviation Round Table (ART) and Chief Executive Officer of Centurion Securities, said this in a statement on Sunday, in Lagos.

The Director General of the Nigerian Civil Aviation Authority (NCAA) had recently said that both domestic and international airlines operating in Nigeria sold tickets worth N502.2 billion in 2017.

Usman said the ticket sales increased by 14.2 per cent (N82.7 billion) compared to the N422.4 billion sold in 2016.

According to him, the airlines also made N400. 9 million in 2017 through cargo charges compared to the N285 million generated in 2016. However, Ojikutu faulted the figures released by the NCAA on the airlines’ earnings and passenger traffic, claiming that it was being subjected to some sort of manipulations which needed to be investigated.

He said: “One might agree with the NCAA that not all those who bought tickets could have used it within the reviewed periods and others could have changed their traveling plans and got their fares refunded.

“However, what is very clear is that the passengers recorded by Federal Airports Authority of Nigeria (FAAN) are known as those who passed through the passengers access control and screening points into the aircraft.

“They are those recorded by the Nigerian Airspace Management Agency (NAMA) as persons on board and they are those, I believe in, as harmonized passenger traffic figures.

“Therefore, the harmonized figures given by NCAA are deemed to have utilised or expended their purchased tickets.’’

Ojikutu argued that the approximately four million international passengers and 10 million domestic passengers were those who bought tickets and had expended their purchased tickets.

He said, for instance, if all international passengers were to pay N350, 000 per flight without considering those on First Class and Business Class, this would amount to N650 billion and not N411 billion or N502 billion provided by NCAA for 2016 and 2017, respectively.

“Similarly, if we consider that each of the 5 million outbound domestic passengers paid N18,000 again without factoring the First and Business Class passengers fares, the earnings cannot be anything less but more than N90 billion.

“The total tickets sales earnings for each of the years can therefore not be less than N740 billion and the NCAA 5 per cent tickets sales charges for each of the year cannot be less than N37 billion,’’ Ojikutu added.

He also noted that the figures released for the CSC were given without specifying on the volume of cargo that generated the charges which again subjects it to manipulations.

“Overall, the shortfalls are huge and the government through the NCAA is losing an average of about N20 billion annually on TSC and CSC and government has lost more than N100 billion between 2013 and 2017.

“The NCAA must come clean of these irregular figures that do not add up.

“If stakeholders must listen to her that the earnings figures were given only by the airlines, the NCAA should be courageous enough to ask them to show evidence for the balance of over N300bn annually on tickets sales.

“Otherwise, NCAA must take responsibility for all the shortfalls,’’ Ojikutu said.

According to him, in the alternative, the Minister of State for Aviation, the Federal Inland Revenue Service and the National Assembly Aviation Committees should separately set up investigation panels to look into these earnings and shortfalls.

He said the unremitted funds could help in addressing the various inadequacies of systems infrastructure and human capital development in the prime safety areas in the sector.

The General Manager, Public Relations, NCAA, Mr Sam Adurogboye, in responding to the statement, said that the allegation was a cheap blackmail from people seeking unavailable consultancy jobs from the authority.

Adurogboye said: “We have declared over and over that we stand by our figures, with abundant explanations.

That position still stands. “Our figure is a harmonised one with FAAN and others. Our figures have been authenticated by external auditors and the National Assembly.’’


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EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

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Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over "419"

Halimat Adenike Tejuosho,

A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.

The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.

The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.

The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.

Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.

According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.

 


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Afreximbank to Fund 3 New Refineries in Nigeria

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African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

 Afreximbank to Fund 3 New Refineries in Nigeria

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.

“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.

The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.

Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.

According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.

He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”

The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.

Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.

Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.

He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.

“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.

Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.

The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.

 


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MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

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The Gathering on 100 has officially concluded its pilot edition, closing out 100 continuous hours of culture, creativity, and community engagement at the National Stadium, Surulere. At the climax of the five-day immersive youth experience, MTN Nigeria and the gatherers of the event unveiled the defining message of the movement: “Live It 100.”

MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

The event brought together thousands of young Nigerians in a massive convergence of music, sports, gaming, and creative sessions. From watching the sunrise for four consecutive mornings to actively shaping culture in real-time, attendees experienced a shared journey rooted in endurance and expression.

Operating under a partnership model rather than a traditional corporate sponsorship, MTN stepped back to let the youth lead. The techo embraced the primary narrative that “The Gathering is the fire; MTN is the oxygen”.

Karl Toriola, Chief Executive Officer, MTN Nigeria, said: “The energy we have witnessed here in Surulere over the past 100 hours is proof of the unstoppable spirit of the Nigerian youth. Our strategic intent was to position MTN as the critical engine behind this vibrant youth movement, ensuring the brand is seen as an enabler, not an intruder. The Gathering is the fire; MTN is the oxygen. ‘Live It 100’ is our commitment to powering the platform where the conversation happens. We are giving them the autonomy to lead, while we listen.”

A focal point of the event was the high-stakes Pitchathon segment, which provided a structured arena for startups to showcase working products. Rather than a traditional, heavily branded corporate event, the space felt authentic, unscripted, and transparent, allowing founders to interact directly with expert judges, potential investors, and a live audience.

Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria, shared: “The ideas and partnerships formed over these 100 hours show exactly what happens when corporate Nigeria is finally listening to young Nigerians. We recognise that traditional business engagement doesn’t always work for this generation, which is why we empowered the youth to lead. By supporting The Gathering, we are not just celebrating culture; we are fueling the young Nigerian through youth-led innovation and actively investing in their economic potential.”

Beyond business activity, the event recorded consistent engagement across its programming, providing deep insight into the evolving role of youth within Nigeria’s economy. The sustained 100-hour activity highlighted a growing, resilient base of digitally engaged participants who own their lanes and actively create their own opportunities.

As the event closed, MTN reaffirmed their commitment to expanding the platform, ensuring that The Gathering on 100 will continue to evolve as a vital space for both cultural expression and youth-led economic opportunity.


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