Business

Fed Govt introduces free routing system to save airlines

Published

2 years ago

October 17, 2022

Acting Managing Director of the Nigerian Airspace Management Agency (NAMA), Mr Mathew Pwajok

Nigeria has introduced a free routing system for airlines. It is the first country in Africa to unveil the new air navigation system, which would enable airlines to spend less to get to their destination, save aviation fuel consumption as well as improve carbon emission on the aircraft to the environment.

Acting Managing Director of the Nigerian Airspace Management Agency (NAMA), Mr Mathew Pwajok disclosed this in an interview.

According to Pwajok, the free route system came as part of interventions to rescue airlines from the debilitating shocks of the COVID – 19 Pandemic.

He said under the new free routing system, airlines could fly shorter distances in the airspace to enhance their operational efficiency as well as burn less fuel, given the impact of fuel costs on airlines’ operations.

He said the airspace agency, conscious of the rebound of air travel, has embarked on a series of interventions in upgrading air traffic management, surveillance and other equipment in the country.

To drive the airspace equipment upgrade, he said the Federal Government is committing over N36 billion for the upgrade of both the software and hardware components of the Safe Tower Project as well as the Total Radar Coverage of Nigeria (TRACON) project.

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He said while N13 billion would be deployed to upgrade the Safe Tower Project, N23 billion would be allocated to the TRACON project.

Besides, he said the Federal Government would be deploying over $12.9 million to enhance the air navigation systems on the project christened: “Wide Area Multi-Lateration Surveillance System for the Gulf of Guinea”.

Pwajok said the system, when completed, would provide safety and surveillance systems for helicopters flying in the Niger Delta Region.

He said the system would not only help to detect low flying helicopters in the Nigeria Delta Region, it would also assist to detect drones flying in the region.

He said the airspace agency has also published procedures for the implementation of Performance Based Navigation (PBN), for all airports across the country .

The PBN, he said, would reduce operational costs, optimise navigation for aircraft operating into such airports.

But, for the PBN to be activated, airlines must have compliant technology onboard aircraft, train their crew as well as secure the relevant approvals from the Nigerian Civil Aviation Authority (NCAA), to actualise the technology.

He called on indigenous carriers to take advantage of NAMA’s new procedures.

Pwajok said the airspace agency has also carried out mapping for manpower needs in new airports in Ekiti, Ogun , Osun, Yobe, Zamfara, Nasarawa, Anambra, Lagos, Ebonyi, Abia, Cross River and other states.

The NAMA acting boss said the agency has already taken steps to address its ageing workforce by seeking approval for the recruitment of over 100 air traffic engineers and controllers.

The Nation

Railway

Lagos Rail Mass Transit part of FG free train ride – NRC

Published

15 hours ago

December 21, 2024

Trends Admin

Lagos Rail Mass Transit part of FG free train ride – NRC

The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.

The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).

This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.

While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.

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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.

“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.

Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.

He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.

Lagos Rail Mass Transit part of FG free train ride – NRC

Business

NNPC denies claim of Port Harcourt refinery shutdown

Published

16 hours ago

December 21, 2024

Trends Admin

Port Harcourt refinery

NNPC denies claim of Port Harcourt refinery shutdown

The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.

The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.

Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.

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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”

He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”

NNPC denies claim of Port Harcourt refinery shutdown

Business

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

Published

2 days ago

December 20, 2024

Trends Admin

CBN Governor, Olayemi Cardoso

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).

This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.

The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.

The arrangement will be in effect from December 19, 2024, to January 30, 2025.

Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.

Transactions to occur at the prevailing NFEM rate

The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.

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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.

The circular read in part:

“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).

This window will be open between December 19, 2024 to January 30, 2025.

“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”

The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”

These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.

This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.