The Federal Airports Authority of Nigeria (FAAN) held a virtual meeting with the management of Munich International Airport to share experiences regarding the resumption of flight activities in the aftermath of the COVID-19 induced lockdown of airports.
This was disclosed in a statement issued by the agency, which was published on its site.
According to the statement, the meeting was held at the instance of its Managing Director, Captain Rabiu Yadudu, and had in attendance Herbert Keffel, Georgios Elkolids, and Julian Duerdoth, who are members of the Munich Airport Experts Team.
The meeting was called to assess the readiness of FAAN to gradually begin operations, following the June 21 timeline set by the Presidential Taskforce on COVID-19.
FAAN boss explained that the meeting was crucial for the agency, as it was important for it to compare notes with other international airports to ensure safe travel in Nigeria.
He added that the regulator had begun to respond to guidelines set by the Nigerian Civil Aviation Authority for gradual airport reopening and post-COVID-19 operations.
He said, “FAAN hopes to strengthen its partnership with the German airport and enhance route development while boosting passenger confidence during flights.”
The country’s airports and airspace were shut in March by President Muhammadu Buhari, as part of efforts to contain the COVID-19 pandemic.
Meanwhile, the Federal Government has directed civil aviation authorities to determine the resumption of domestic flights in the country.
The National Coordinator of the Presidential Task Force on COVID-19, Sani Aliyu, stated this during its last briefing in Abuja on Thursday.
Aliyu had on June 1 said, “the aviation industry is requested to start developing protocols to allow for domestic flights to resume anytime from the 21st of June onwards.”
The Federal Airports Authority of Nigeria (FAAN) held a virtual meeting with the management of Munich International Airport to share experiences regarding the resumption of flight activities in the aftermath of the COVID-19 induced lockdown of airports.
This was disclosed in a statement issued by the agency, which was published on its site.
According to the statement, the meeting was held at the instance of its Managing Director, Captain Rabiu Yadudu, and had in attendance Herbert Keffel, Georgios Elkolids, and Julian Duerdoth, who are members of the Munich Airport Experts Team.
The meeting was called to assess the readiness of FAAN to gradually begin operations, following the June 21 timeline set by the Presidential Taskforce on COVID-19.
FAAN boss explained that the meeting was crucial for the agency, as it was important for it to compare notes with other international airports to ensure safe travel in Nigeria.
He added that the regulator had begun to respond to guidelines set by the Nigerian Civil Aviation Authority for gradual airport reopening and post-COVID-19 operations.
He said, “FAAN hopes to strengthen its partnership with the German airport and enhance route development while boosting passenger confidence during flights.”
The country’s airports and airspace were shut in March by President Muhammadu Buhari, as part of efforts to contain the COVID-19 pandemic.
Meanwhile, the Federal Government has directed civil aviation authorities to determine the resumption of domestic flights in the country.
The National Coordinator of the Presidential Task Force on COVID-19, Sani Aliyu, stated this during its last briefing in Abuja on Thursday.
Aliyu had on June 1 said, “the aviation industry is requested to start developing protocols to allow for domestic flights to resume anytime from the 21st of June onwards.”
Related
New FAAN MD solicits for airline operators’ cooperationMay 31, 2019In "Business News"
FAAN, FCI to set up Lagos trade centre December 1, 2019In "Business News"
FAAN denies issuing Post-COVID guidelines for resumption of flight operationsMay 17, 2020In "Coronavirus"
Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper. The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference. The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - abiola.odutola@nairametrics.com.
ECONOMY & POLITICS
Jobs at risk as Buhari kick-starts process of reducing government agencies and parastatals
Buhari has been under pressure since he assumed office in 2015 to implement Oronsaye’s report.
Published
22 mins agoon
June 13, 2020
The Federal Government has begun the process of reducing the number of parastatals and government agencies in Nigeria, in order to cut the cost of governance.
This has been initiated by President Muhammadu Buhari, who ordered the review of the Federal Government White Paper on Rationalization of Government Parastatals and Agencies to reduce the cost of governance in the country.
It was disclosed by the President during his national broadcast to mark this year’s Democracy Day, on Friday in Abuja. He said that the review had become imperative, in view of the country’s dwindling resources and rising cost of governance.
The President said, “In the face of dwindling resources and rising cost of governance, I have authorized that the white paper on the rationalization of government parastatals and agencies be reviewed for implementation.”
He however, promised to continue to give all necessary support for ongoing reforms, designed to restore discipline, integrity, and patriotism in the public service as it remains the bedrock for the formulation and implementation of policies, programmes and projects in the country.
The president observed that his administration had continued to implement accountable and transparent policies through the Open Government Partnership and the transparency portal on financial transactions.
He added that the government had also strengthened auditing and accountability mechanisms so as to ensure that rules and regulations were followed strictly.
It can be recalled that the Presidential Committee on the Reform of Government Agencies, which was set up by the former President Goodluck Jonathan and chaired by the former Head of Service, Steve Oronsaye, recommended the reduction of parastatals and statutory agencies of government from 263 to 161.
The report had disclosed that the average cost of governance in Nigeria is believed to rank among the highest in the world. It was also reported that the Federal Government wanted to conclude the process of implementation of the report by October 2020.
President Buhari has been under pressure since he assumed office in 2015 to implement the report. This is in line with his electoral promise to run a lean government and eliminate wastage in governance.
However, for this to be effectively implemented, the legislature will have to amend or repeal some of the laws establishing some of these parastatals or government agencies that might be affected in this exercise.
FINTECH
New report details how Nigerian fintech companies are expanding their business scopes
The 20-paged report was unveiled during a webinar that was organised by The Economist Intelligence Unit.
Published
18 hours agoon
June 12, 2020
A new report on the Nigerian fintech space, which was sponsored by MasterCard and MTN Group, has revealed how Nigerian fintech companies are steadily exploring new opportunities. Some of the new areas they are venturing into include micro-investment, insurance (insur-tech), peer-to-peer transfers, and even wealth management.
The report specifically mentioned companies like Cowrywise and Farmcrowdy as two prime examples of fintechs that have developed wealth management platforms. Cowrywise, on one hand, targets Nigeria’s middle class with online investment products, while Farmcrowdy makes it possible for investors to co-own farms by providing the needful capital for farmers.
Other fintech companies are offering digital insurance coverages that encompass auto, education, health, and funeral costs. The prices for the services are said to be as low as $0.50 per month. The report, however, noted that the growth of insur-tech services in Nigeria are quite slow when compared to what obtains in other African countries such as Kenya and Ghana. According to a senior manager at GSMA Intelligence (Kenechi Okeleke) who was also quoted in the report, the reason for the slow pace in Nigeria is due to the country’s lack of enthusiasm for insurance in general. He said:
“Insurance has always been a small sector in financial services in Nigeria. Individuals tend not to do insurance. For big players, their main market has been the corporate sector.”
READ ALSO: Financial Inclusion: Fintech firms got $400 million investment in 2019 – Emefiele
The 20-paged report titled— State of play: Fintech in Nigeria —was unveiled yesterday during a webinar that was organised by The Economist Intelligence Unit, an arm of The Economist which carried out the research. Nairametrics participated in the webinar.
Presenting the report, a Senior Editor of The Economist Intelligence Unit, Melanie Noronha, disclosed that payments and remittances remain the two most developed subsectors in the Nigerian fintech space. However, the fintech firms are playing heavily in the loan business. They have a wide range of digital lending products targeted at SMEs and individuals.
“There’s a new wave of start-ups in the lending space which are lending to both consumers and small businesses. The payment services have built up data that allow these start-ups to develop models of creditworthiness, for either people or companies, in a continent where there is very little data about people’s credit ratings because they never had formal access to the financial sector,” said Khaled Ben, a senior partner at Lagos-based AfricInvest
In the meantime, traditional banks are said to be increasingly jumping aboard the digital train, as they quickly adapt by offering digital products focused on loans. In the same vein, telecom companies are also playing a huge role in the Nigerian fintech ecosystem.
You may read the full report by clicking here.
ENTERTAINMENT
Netflix signs multi-title deal with Mo Abudu
Netflix has announced a new partnership with Mo Abudu, to bring two literary classics to screen.
Published
18 hours agoon
June 12, 2020
Netflix has announced a new partnership with owner of Ebony Life TV, Mo Abudu, to bring two of Nigeria’s literary classics from book to screen.
The deal will see both partners bringing a series-adaptation of Lola Shoneyin’s “The Secret Lives of Baba Segi’s Wives” and a film-adaptation of Prof. Wole Soyinka’s “Death And The King’s Horseman”, to screen.
Netflix announced this on its Twitter handle @NetflixNaija on Friday morning.
We’ve got MAJOR news for you today! Netflix has partnered with acclaimed producer @MoAbudu to bring you two of Nigeria’s most beloved literary classics to screens around the world!
In addition, Mo Abudu’s Ebony Life TV will also produce “two new Nigerian Originals plus licensed films AND a series for Netflix!”, the tweet read.
With this deal, the global streaming giant will be streaming both Nigerian classics to its subscribers across the globe.
READ MORE:Beyonce’s father invests in Nigerian streaming app, MePlaylist
What you should know
Netflix is a global streaming entertainment service provider with over 183 million paid memberships in over 190 countries.
Mo Abudu first became popular in 2006 with her daytime talk show, Moments With Mo, but she has since then risen to become a brand in Nigerian entertainment.
She launched EbonyLife TV in 2012, the first fully Nigerian-owned entertainment channel to be carried on South African pay-TV platform DStv, and later ventured into feature film production, producing successful titles like The Wedding Party.
EbonyLife productions is credited with having the three highest-grossing Nigerian movies in the box office.
close
The Federal Airports Authority of Nigeria (FAAN) held a virtual meeting with the management of Munich International Airport to share experiences regarding the resumption of flight activities in the aftermath of the COVID-19 induced lockdown of airports.
This was disclosed in a statement issued by the agency, which was published on its site.
According to the statement, the meeting was held at the instance of its Managing Director, Captain Rabiu Yadudu, and had in attendance Herbert Keffel, Georgios Elkolids, and Julian Duerdoth, who are members of the Munich Airport Experts Team.
The meeting was called to assess the readiness of FAAN to gradually begin operations, following the June 21 timeline set by the Presidential Taskforce on COVID-19.
FAAN boss explained that the meeting was crucial for the agency, as it was important for it to compare notes with other international airports to ensure safe travel in Nigeria.
He added that the regulator had begun to respond to guidelines set by the Nigerian Civil Aviation Authority for gradual airport reopening and post-COVID-19 operations.
He said, “FAAN hopes to strengthen its partnership with the German airport and enhance route development while boosting passenger confidence during flights.”
The country’s airports and airspace were shut in March by President Muhammadu Buhari, as part of efforts to contain the COVID-19 pandemic.
Meanwhile, the Federal Government has directed civil aviation authorities to determine the resumption of domestic flights in the country.
The National Coordinator of the Presidential Task Force on COVID-19, Sani Aliyu, stated this during its last briefing in Abuja on Thursday.
Aliyu had on June 1 said, “the aviation industry is requested to start developing protocols to allow for domestic flights to resume anytime from the 21st of June onwards.”
Related
New FAAN MD solicits for airline operators’ cooperationMay 31, 2019In "Business News"
FAAN, FCI to set up Lagos trade centre December 1, 2019In "Business News"
FAAN denies issuing Post-COVID guidelines for resumption of flight operationsMay 17, 2020In "Coronavirus"
Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper. The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference. The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - abiola.odutola@nairametrics.com.
ECONOMY & POLITICS
Jobs at risk as Buhari kick-starts process of reducing government agencies and parastatals
Buhari has been under pressure since he assumed office in 2015 to implement Oronsaye’s report.
Published
22 mins agoon
June 13, 2020The Federal Government has begun the process of reducing the number of parastatals and government agencies in Nigeria, in order to cut the cost of governance.
This has been initiated by President Muhammadu Buhari, who ordered the review of the Federal Government White Paper on Rationalization of Government Parastatals and Agencies to reduce the cost of governance in the country.
It was disclosed by the President during his national broadcast to mark this year’s Democracy Day, on Friday in Abuja. He said that the review had become imperative, in view of the country’s dwindling resources and rising cost of governance.
The President said, “In the face of dwindling resources and rising cost of governance, I have authorized that the white paper on the rationalization of government parastatals and agencies be reviewed for implementation.”
He however, promised to continue to give all necessary support for ongoing reforms, designed to restore discipline, integrity, and patriotism in the public service as it remains the bedrock for the formulation and implementation of policies, programmes and projects in the country.
The president observed that his administration had continued to implement accountable and transparent policies through the Open Government Partnership and the transparency portal on financial transactions.
He added that the government had also strengthened auditing and accountability mechanisms so as to ensure that rules and regulations were followed strictly.
It can be recalled that the Presidential Committee on the Reform of Government Agencies, which was set up by the former President Goodluck Jonathan and chaired by the former Head of Service, Steve Oronsaye, recommended the reduction of parastatals and statutory agencies of government from 263 to 161.
The report had disclosed that the average cost of governance in Nigeria is believed to rank among the highest in the world. It was also reported that the Federal Government wanted to conclude the process of implementation of the report by October 2020.
President Buhari has been under pressure since he assumed office in 2015 to implement the report. This is in line with his electoral promise to run a lean government and eliminate wastage in governance.
However, for this to be effectively implemented, the legislature will have to amend or repeal some of the laws establishing some of these parastatals or government agencies that might be affected in this exercise.
FINTECH
New report details how Nigerian fintech companies are expanding their business scopes
The 20-paged report was unveiled during a webinar that was organised by The Economist Intelligence Unit.
Published
18 hours agoon
June 12, 2020A new report on the Nigerian fintech space, which was sponsored by MasterCard and MTN Group, has revealed how Nigerian fintech companies are steadily exploring new opportunities. Some of the new areas they are venturing into include micro-investment, insurance (insur-tech), peer-to-peer transfers, and even wealth management.
The report specifically mentioned companies like Cowrywise and Farmcrowdy as two prime examples of fintechs that have developed wealth management platforms. Cowrywise, on one hand, targets Nigeria’s middle class with online investment products, while Farmcrowdy makes it possible for investors to co-own farms by providing the needful capital for farmers.
Other fintech companies are offering digital insurance coverages that encompass auto, education, health, and funeral costs. The prices for the services are said to be as low as $0.50 per month. The report, however, noted that the growth of insur-tech services in Nigeria are quite slow when compared to what obtains in other African countries such as Kenya and Ghana. According to a senior manager at GSMA Intelligence (Kenechi Okeleke) who was also quoted in the report, the reason for the slow pace in Nigeria is due to the country’s lack of enthusiasm for insurance in general. He said:
“Insurance has always been a small sector in financial services in Nigeria. Individuals tend not to do insurance. For big players, their main market has been the corporate sector.”
READ ALSO: Financial Inclusion: Fintech firms got $400 million investment in 2019 – Emefiele
The 20-paged report titled— State of play: Fintech in Nigeria —was unveiled yesterday during a webinar that was organised by The Economist Intelligence Unit, an arm of The Economist which carried out the research. Nairametrics participated in the webinar.
Presenting the report, a Senior Editor of The Economist Intelligence Unit, Melanie Noronha, disclosed that payments and remittances remain the two most developed subsectors in the Nigerian fintech space. However, the fintech firms are playing heavily in the loan business. They have a wide range of digital lending products targeted at SMEs and individuals.
“There’s a new wave of start-ups in the lending space which are lending to both consumers and small businesses. The payment services have built up data that allow these start-ups to develop models of creditworthiness, for either people or companies, in a continent where there is very little data about people’s credit ratings because they never had formal access to the financial sector,” said Khaled Ben, a senior partner at Lagos-based AfricInvest
In the meantime, traditional banks are said to be increasingly jumping aboard the digital train, as they quickly adapt by offering digital products focused on loans. In the same vein, telecom companies are also playing a huge role in the Nigerian fintech ecosystem.
You may read the full report by clicking here.
ENTERTAINMENT
Netflix signs multi-title deal with Mo Abudu
Netflix has announced a new partnership with Mo Abudu, to bring two literary classics to screen.
Published
18 hours agoon
June 12, 2020Netflix has announced a new partnership with owner of Ebony Life TV, Mo Abudu, to bring two of Nigeria’s literary classics from book to screen.
The deal will see both partners bringing a series-adaptation of Lola Shoneyin’s “The Secret Lives of Baba Segi’s Wives” and a film-adaptation of Prof. Wole Soyinka’s “Death And The King’s Horseman”, to screen.
Netflix announced this on its Twitter handle @NetflixNaija on Friday morning.
In addition, Mo Abudu’s Ebony Life TV will also produce “two new Nigerian Originals plus licensed films AND a series for Netflix!”, the tweet read.
With this deal, the global streaming giant will be streaming both Nigerian classics to its subscribers across the globe.
READ MORE:Beyonce’s father invests in Nigerian streaming app, MePlaylist
What you should know
Netflix is a global streaming entertainment service provider with over 183 million paid memberships in over 190 countries.
Mo Abudu first became popular in 2006 with her daytime talk show, Moments With Mo, but she has since then risen to become a brand in Nigerian entertainment.
She launched EbonyLife TV in 2012, the first fully Nigerian-owned entertainment channel to be carried on South African pay-TV platform DStv, and later ventured into feature film production, producing successful titles like The Wedding Party.
EbonyLife productions is credited with having the three highest-grossing Nigerian movies in the box office.
close
The Federal Airports Authority of Nigeria (FAAN) held a virtual meeting with the management of Munich International Airport to share experiences regarding the resumption of flight activities in the aftermath of the COVID-19 induced lockdown of airports.
This was disclosed in a statement issued by the agency, which was published on its site.
According to the statement, the meeting was held at the instance of its Managing Director, Captain Rabiu Yadudu, and had in attendance Herbert Keffel, Georgios Elkolids, and Julian Duerdoth, who are members of the Munich Airport Experts Team.
The meeting was called to assess the readiness of FAAN to gradually begin operations, following the June 21 timeline set by the Presidential Taskforce on COVID-19.
FAAN boss explained that the meeting was crucial for the agency, as it was important for it to compare notes with other international airports to ensure safe travel in Nigeria.
He added that the regulator had begun to respond to guidelines set by the Nigerian Civil Aviation Authority for gradual airport reopening and post-COVID-19 operations.
He said, “FAAN hopes to strengthen its partnership with the German airport and enhance route development while boosting passenger confidence during flights.”
The country’s airports and airspace were shut in March by President Muhammadu Buhari, as part of efforts to contain the COVID-19 pandemic.
Meanwhile, the Federal Government has directed civil aviation authorities to determine the resumption of domestic flights in the country.
The National Coordinator of the Presidential Task Force on COVID-19, Sani Aliyu, stated this during its last briefing in Abuja on Thursday.
Aliyu had on June 1 said, “the aviation industry is requested to start developing protocols to allow for domestic flights to resume anytime from the 21st of June onwards.”
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