Stakeholders: How Dry Lease Will Save Domestic Airlines N26.6bn Annually

Chinedu Eze Stakeholders who are experts in aviation industry have explained how domestic airline operators could save so much money from dry leasing. According to them, if Nigerian carriers migrate from wet leasing of aircraft to dry leasing, it will save them about N26. 6 billion ($17,853,48000) annually. They are optimistic that domestic airlines will soon begin to experience remarkable turnaround in their domestic operations, since lessors have agreed to offer them aircraft on dry lease…

First LNG-powered Containership, MV Sapphire, Berths at APM Terminals

Eromosele Abiodun The Lagos Port Complex, Apapa, witnessed a landmark moment on Monday as Gold Star Line’s first liquefied natural gas (LNG)-powered containership, the MV Sapphire, berthed at APM Terminals. The vessel, built in 2024 and sailing under the flag of Singapore, has a carrying capacity of 7,800 twenty-foot equivalent units (TEUs). With her size and advanced LNG propulsion system, the MV Sapphire represents a significant step forward in sustainable shipping operations serving Nigeria and the…

There Are No Constitutional Breaches By Damagum, PDP Replies Anyanwu

There Are No Constitutional Breaches By Damagum, PDP Replies Anyanwu

•Insists national convention will go on as planned 

•Dismisses Tinubu’s Independence Day broadcast as uninspiring, boring

Chuks Okocha in Abuja and Okon Bassey in Uyo

The leadership of Peoples Democratic Party (PDP) has insisted that the party’s National Chairman, Ambassador Illya Damagum, never committed any constitutional breaches as alleged by the national secretary, Senator Samuel Anyanwu.

Anyanwu had in a letter dated October 1, 2025,  said, ‘’It has become imperative to formally bring to your attention the violation of the provisions of PDP constitution, 2017 as Amended and the constant infraction of the duties of the office of the National Secretary.

‘’It is important to remind you that section 36(1) b and e, of the PDP constitution 2017, as amended clearly states inter Alia; b) that the National Secretary shall ‘conduct or direct the conduct of the correspondences of the Party and cause to be issued notices of meetings of the National Convention, National Executive Committee, the National Caucus and the National Working Committee; and e) shall ensure the implementation of the decisions and directives of the National Convention, National Executive Committee, National Caucus, and ensure that all units of the Party carry out their duties promptly and efficiently.

‘’Instructively the duties of issuing notices of meetings and implementations of the decisions or resolutions of the NW are within the purview of the office of the National Secretary

‘’Regrettably, you have disregarded these provisions of the constitution without recourse to the legal implications of your actions. You should be aware that any action or decisions purportedly reached by an illegally constituted NWC is null and void and of no effect.

‘’Note further, that the purported press statement issued by the National Publicity Secretary as regards the dissolution of Akwa Ibom and Cross River State working committees and replacing them with caretaker committee is a nullity because the notice of the NW meeting purportedly held on Tuesday September 30th,2025 was not issued by me.

‘’The decision to undermine the duties of my office as provided by the party constitution is provocative and grossly unacceptable by me.

‘’It is high time you retraced your steps and conduct yourself and the affairs of our Party in strict compliance with the PDP constitution 2017 as Amended. A stitch in time saves nine.

Accept the assurances of my esteemed regards,’’ he concluded.

The party said the November 16-17 national convention was already in progress, saying it is sacrosanct, despite perceived distraction in some quarters.

PDP criticised the Independence Day speech by President Bola Tinubu, describing it as uninspiring and boring.

Addressing the media on the position of things in the party, National Publicity Secretary, Debo Ologunagba, said by the constitution of the party, as amended in 2017, the national chairman remained the chief executive officer of the party.

To that end, Ologunagba said he, by constitutional demand, had the rights to delegate duties and responsibilities to other members of the National Working Committee (NWC) for the smooth day-to-day running of PDP as a political party.

According to Ologunagba, “Section 35 of the PDP constitution as amended in 2027, the national Chairman is the chief executive officer of the party. He summons and presides over the affairs of the party and delegates duties to other members of the party as the case may be.”

He stated that by virtue of Section 29 of the party’s constitution, all meetings were at the instance of the national chairman, and this could only be overruled by a two-third of members of NWC.

Ologunagba explained that Section 29 of the party’s constitution made it explicit that the national chairman of the party should provide leadership or delegate.

Ologunagba dismissed the position of Anyanwu that the chairman was in breach as contained in Section 36 subsection B and C of the party’s constitution.

“By our constitution, the national secretary is the Chief Administrative officer, who takes responsibilities from the National Chairman. He cannot act unilateral. He cannot summon a meeting, unless so directed by the national chairman,” he said.

The national secretary had Wednesday issued a statement accusing the national chairman of breaching and violating the party’s constitution, especially Section 36.

But the November 16 and 17 dates of the national convention of the party, Ologunagba said, were sacrosanct, as they were destined to take place for the general purpose of reinventing the party.

He acknowledged that the party was aware of distractions from some quarters against the national convention, but said, “We won’t be distracted. The convention train has since left Abuja and will soon be landing in Ibadan.”

Ologunagba described Tinubu’s independence day speech as uninspiring and boring, and said it was merely cosmetic

He stated, “The speech of the president to mark the 65th independence of Nigeria is uninspiring, boring and full of propaganda. It dashed hopes with false statistics.

“It did not address the rising youth employment, high cost of living and the growing level of insecurity in the country. One wonders how the President could say that the economy is improving.

“The All Progressives Congress (APC) has taken Nigeria down the lane of bandage and servitude. The president should endeavour to humanise governance for the general welfare and wellbeing of Nigerians.”

In a related development, the sacked chairperson of PDP in Akwa Ibom State, Mr. Aniekan Akpan, who had openly declared loyalty to Governor Umo Eno of APC, denounced the dissolution of the PDP State Executive Committee by the party’s NWC.

PDP had, through Ologunagba, announced the dissolution of the Akwa Ibom State and Cross River State executive committees.

In a statement, PDP also announced the composition of a caretaker committee to oversee activities in the two states for the next three months.

But Akpan told journalists at a press conference at the PDP state secretariat in Uyo that he would resist “impunity”.

He declared that the NWC was acting outside its powers, stressing that no formal meeting was convened to approve the dissolution.

Akpan particularly cited a letter by the party’s National Secretary, Anyanwu, which “affirmed that no decision was taken to disband the Akwa Ibom executives”.

He described the dissolution as “false”, saying, “The PDP in Akwa Ibom is intact, right from the state down to the ward level. We will resist any impunity.

“We have it on good authority that the National Working Committee (NWC) of the party that claimed to have dissolved the state executive council did not convene any formal meeting to take such a decision.

“The National Secretary of the party, Samuel Anyanwu, has issued a press release and conveyed a letter to us showing that there was no such meeting and affirmed that no formal NWC meeting was held to dissolve the state executives of the party in Akwa Ibom.”

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•Insists national convention will go on as planned  •Dismisses Tinubu’s Independence Day broadcast as uninspiring, boring Chuks Okocha in Abuja and Okon Bassey in Uyo The leadership of Peoples Democratic

NDIC Warns Nigerians to Steer Clear of Unlicensed Banks, Ponzi Schemes

NDIC Warns Nigerians to Steer Clear of Unlicensed Banks, Ponzi Schemes

James Emejo in Abuja

Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Dr. Oludare Sunday, yesterday advised Nigerians to stay away from banks and other financial institutions that are not licensed by the Central Bank of Nigeria (CBN).

He also said customers must not patronised any bank, fintech and payment services that are not covered by the NDIC as well as avoid ponzi schemes.

Sunday made the appeal in Abuja at the NDIC Special Day at the ongoing 20th Abuja International Trade Fair (AITF) with the theme, “Sustainability: Consumption, Incentives and Taxation”.

Represented by NDIC Director, Performance Management Department, Olabimpe Akande, he noted that the corporation had over three decades played a vital role in safeguarding depositors funds, particularly the most vulnerable, and fortifying the financial system.

He said the NDIC primary objectives included insuring deposits in licensed banks, supervising financial institutions, managing distressed banks, and ensuring a smooth resolution process in the event of bank failures.

The MD further reaffirmed its commitment to protecting Nigerians’ banks.

He said, “Furthermore, I would like to emphasise the importance for Nigerians to remain vigilant against Ponzi schemes and other fraudulent investment platforms. Always ensure your funds are placed only in Central Bank of Nigeria licensed banks, all of which are covered by deposit insurance provided by the NDIC. This vigilance is crucial to protecting your hard-earned savings.

“Despite the rapid growth and adoption of financial technology in our banking sector, traditional banks continue to play a vital role and regulatory frameworks have been strengthened to ensure the compliance and stability of all deposit-taking institutions in the country.”

He said currently, NDIC insures depositors of Deposit Money Banks (DMBs), Mobile Money Operators and Non-Interest Banks, up to a coverage limit of N5 million, adding that depositors of Payment Service Banks (PSBs) Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) are insured up to N2 million.

According to him, the enhanced coverage ensures that about 98.98 per cent of total depositors in Deposit Money Banks, 99.27 per cent in microfinance banks, 99.34 per cent in Primary Mortgage Banks, and 99.99 per cent in Payment Service Banks are protected, reflecting NDIC’s unwavering commitment to fulfilling its mandate.

He pointed out that in partnership with the CBN, NDIC strives to maintain stability in the banking sector, enforce compliance with banking regulations, and exercise effective oversight over insured deposit-taking institutions.

Sunday said, “Our mission, embodied in the tagline ‘Protecting your bank deposits,’ is to promote financial inclusion and stability by reassuring Nigerians of the security of their savings.

Significant progress has been made in protecting depositors’ funds, notably through the increase in the maximum deposit insurance coverage, which has broadened protection across various licensed banks.”

Continuing, he said, “In the event that a bank fails, depositors with account balances exceeding the insured coverage limit receive an initial payment up to the maximum insured amount. Their remaining balances are then paid through liquidation dividends.

“Liquidation dividends refer to payouts made to depositors and creditors from the proceeds generated from the sale of a failed bank’s assets and recovered debts during the liquidation process. These dividends are usually paid on a pro-rata basis, meaning depositors receive a proportionate share of the recovered funds relative to their outstanding balances beyond the insured limit.

“An example of this process was the revocation of Heritage Bank’s license on June 3, 2024. The NDIC promptly reimbursed insured deposits using the Bank Verification Number (BVN) in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) as a unique identifier to locate alternate accounts for payment. Depositors with sums exceeding five million naira were first paid five million naira, with liquidation dividends disbursed subsequently from recovered assets and debts.

“The first tranche of liquidation dividends commenced on April 25, 2025, and payments continue, as the corporation continues to realise the sale of assets and recover debts demonstrating the NDIC’s effectiveness in ensuring comprehensive depositor protection and financial stability.

“This approach aligns with many successful liquidation cases where the NDIC continues to meet claims responsibly, reinforcing public confidence in the financial safety net.”

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James Emejo in Abuja Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Dr. Oludare Sunday, yesterday advised Nigerians to stay away from banks and other financial institutions that are not

Ex-President Jonathan Mourns Death of Arise TV Anchor

Ex-President Jonathan Mourns Death of Arise TV Anchor

•Urges security agencies to launch thorough investigation

Emmanuel Addeh in Abuja

Former President Goodluck Jonathan yesterday joined other Nigerians in mourning the death of Arise Television Anchor, Ms. Somtochukwu Maduagwu, who lost her life following a violent armed robbery attack at her residence in Abuja.

In a “Condolence Message to Prince Nduka Obaigbena and the Staff of Arise News”, Jonathan expressed sadness over the incident, describing it as ‘heartbreaking’.

“I am deeply saddened by the shocking and untimely death of Ms. Somtochukwu Maduagwu, a dedicated staff member of Arise News, who lost her life following a violent armed robbery attack at her residence in Abuja.

“Her untimely passing, at the peak of her potential, is a heartbreaking loss that will be deeply felt,” the ex-President said in the message he signed personally.

While extending his heartfelt condolences to Obaigbena, the management and staff of Arise News, as well as the family and friends of the deceased, Jonathan prayed to God to grant all the bereaved the strength to bear the irreparable loss and grant the soul of the departed eternal rest.

“I strongly urge the Nigeria Police and relevant security agencies to launch a thorough investigation into this heinous crime, ensure that the perpetrators are apprehended, and bring them to justice without delay.

“May this tragic incident rekindle our collective resolve to build a safer and more secure Nigeria,” Jonathan added.

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•Urges security agencies to launch thorough investigation Emmanuel Addeh in Abuja Former President Goodluck Jonathan yesterday joined other Nigerians in mourning the death of Arise Television Anchor, Ms. Somtochukwu Maduagwu,

Minister Inspects 43.65km Mararaba-Keffi Road, Laments Delay

Minister Inspects 43.65km Mararaba-Keffi Road, Laments Delay

Emmanuel Addeh in Abuja

The Minister of State for Works, Bello Goronyo, yesterday conducted an on-site inspection of the ongoing reconstruction and expansion works on the 43.65-kilometre Mararaba-Keffi Road, a critical infrastructure upgrade under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

Executed by China Harbour Engineering Company Nigeria Limited, the minister, during the inspection, expressed serious concern over the pace of work and the persistent traffic congestion along the corridor, which serves as a vital link between the Federal Capital Territory (FCT) and Nasarawa state.

He noted that the daily gridlock severely affects thousands of commuters, particularly civil servants residing along the axis, many of whom struggle to arrive at work on time, a statement by the Director, Press and Public Relations Department, Mohammed Ahmed, said.

Goronyo emphasised the urgency of expediting the construction timeline, reminding the contractor that the federal government had granted permission for night-time construction activities to ensure faster delivery and to mitigate the hardship faced by road users.

“This project is of national importance. The volume of traffic here is massive, and many public servants are suffering. The government is fully supportive of this project, but the contractor must rise to the occasion. You have approval to work at night — please utilise it to meet the delivery schedule,” the minister stated.

In response, the Project Manager,  Mr. Dong Hong, representing China Harbour Engineering Company Nigeria Limited, assured the minister and the Nigerian public that the project remains on track and will be completed within the agreed timeline.

“We understand the importance of this road and the urgency to ease traffic for the people. Our team is fully mobilised, and we are committed to delivering quality work on time,” said  Hong.

The Mararaba-Keffi road project forms part of the federal government’s efforts to address critical infrastructure needs through innovative financing mechanisms such as the Tax Credit Scheme, which allows private sector partners to invest in public road projects in exchange for tax reliefs.

The Federal Ministry of Works said it remains committed to ensuring that all ongoing infrastructure projects are delivered efficiently, timely, and to the highest standards, in line with President Bola Tinubu’s infrastructure agenda.

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Emmanuel Addeh in Abuja The Minister of State for Works, Bello Goronyo, yesterday conducted an on-site inspection of the ongoing reconstruction and expansion works on the 43.65-kilometre Mararaba-Keffi Road, a

Buy nterests in GTCO, Others Lift  Stock Market by N1171bn

Kayode Tokede  Investors buying interest in Guaranty Trust Holding Company Plc (GTCO), MTN Nigeria Communication Plc and 32others, yesterday pushed the market capitalisation up by N171 billion as the stock market maintained its winning streak. Following the 2.1 per cent  and  0.5 per cent stock price appreciation in GTCO and MTN Nigeria, respectively,  the Nigerian Exchange Limited All-Share Index (NGX ASI) gained by 268.98 basis points, or 0.19 per cent to close at 142,979.46 basis points. …

Dantsoho: Abuja’s Centrality,  Agro-allied Potentials Strategic to Boosting Non-oil Revenue

Eromosele Abiodun The Managing Director of Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho has said that the centrality of Abuja coupled with its rich agro-allied potentials is germane to strengthening NPA’s commitment to supporting the federal government’s efforts to continuously grow non-oil revenue by connecting local value producers in the non-oil value chain to identified international clusters of demand for their goods. According to him, the position of Abuja as the centre of the country is strategic to…

Ogun Elders: Gateway International Airport Best Investment of Abiodun’s Administration

Ogun Elders: Gateway International Airport Best Investment of Abiodun’s Administration

James Sowole in Abeokuta

The Gateway State International Airport, Ilishan Remo, has been described as the best investment bequeathed to the state by the Prince Dapo Abiodun-led administration.

Chairman of the Governor’s Elders Advisory Council, Chief Olu Okuboyejo, stated this when he led other members of the council on an inspection tour of the airport.

Okuboyejo who expressed delight with the state-of-the-art facilities at the airport noted it could be compared to the best anywhere across the globe.

He said: “It is an excellent airport. I have traveled the whole length of the world, and in all these places, I am proud to say that what I have seen here today measures up and is much better than a number of other airports.

“It is the best long-term investment. As it grows over the years, its developmental progress becomes so magnificent that you cannot imagine.

“Some of us know what Murtala Muhammed Airport in Lagos used to be many years ago and what it is now. This airport has been planned for the next 20-30 years in terms of growth and development.”

The elder statesman, while describing the airport as the best legacy of Dapo Abiodun’s administration, expressed optimism that its objectives would be met.

He also suggested that plans should be made to get the approval of the International Civil Aviation Organization (ICAO) to enable the airport to operate international flights, as this would generate income and make it self-financing.

The Elders Council Chairman lauded Abiodun for following the path of great men who build renowned airports across the world, adding that apart from engendering development, the edifice would stand as a reminder of his good works for generations to come.

“Those who build renowned airports in the world are still remembered up till now, and Governor Abiodun will not be an exception. We, his advisers, the elderly, are happy that our own son is putting this up in our own time,” Okuboyejo concluded.

Also speaking, the Commissioner for Transportation, Mr. Gbenga Dairo, said the airport was designed to serve as an anchor project for the various industrial activities taking place in different parts of the state, particularly the axis that falls under the Remo Economic Cluster.

He noted the airport in years to come would be bigger, busier, and experience more activities as other infrastructure begins to spring up.

While assuring the airport boasts up-to-date facilities, the Commissioner reiterated the passenger terminal, cargo warehouses, independent power plant, fire station, control tower, among others, are ready on the ground for the airport to begin commercial flights.

The Airport Manager, Captain Dapo Olumide, while conducting the elders around the facility, said officers from relevant aviation regulatory bodies are already at the airport, while finishing touches are being done to ensure seamless flight operations.

He disclosed that the first commercial flight is expected to commence next week Tuesday, as passengers from Sagamu, Ijebu-Ode, Abeokuta, and other parts of the state have started booking.

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James Sowole in Abeokuta The Gateway State International Airport, Ilishan Remo, has been described as the best investment bequeathed to the state by the Prince Dapo Abiodun-led administration. Chairman of

IMO Secretary-General Commends Nigeria’s Maritime Security Gains, Deep Blue Project, Blue Economy Policy

IMO Secretary-General Commends Nigeria’s Maritime Security Gains, Deep Blue Project, Blue Economy Policy

Kasim Sumaina in Abuja

Secretary-General of International Maritime Organization (IMO), Mr. Arsenio Domínguez, has lauded Nigeria’s achievements in maritime security, particularly its success in recording zero piracy incidents for over three years and the ground-breaking Deep Blue Project, which he described as a model for regional cooperation in the Gulf of Guinea.

Domínguez, who arrived in Nigeria on Thursday, made the remarks during a courtesy visit to Minister of Marine and Blue Economy, Adegboyega Oyetola.

He stated that Nigeria’s investment in maritime safety infrastructure and the collaboration of its security agencies, especially the Nigerian Navy, had yielded tangible results in combating piracy and maritime crimes.

According to him, these efforts demonstrate Nigeria’s leadership and commitment to ensuring safer seas, not just for its own waters, but also for the wider West and Central African region.

The IMO chief acknowledged Nigeria’s recent submission to the organisation outlining its national and regional security initiatives.

While commending the progress made, Domínguez stressed the need for continued support in infrastructure development and acquisition of modern equipment.

He assured that IMO would remain committed to providing technical assistance through awareness campaigns, training programmes, and capacity-building initiatives.

In highlighting the organisation’s ongoing projects, Domínguez referenced a regional conference scheduled to hold in Ghana in January on the Safe Seas Project, designed to consolidate contributions from Nigeria and other partner states.

He also announced ongoing discussions with the European Union aimed at launching a new maritime governance project focused on port security, as well as two regional projects in southern and western Africa, where progress would be tracked through defined indicators.

Beyond security, Domínguez stressed the need for countries to prepare for wider global challenges, including the energy transition, the adoption of biofuels, and financing mechanisms to support training of seafarers, infrastructure development, and the adoption of future fuels.

He praised Nigeria’s Blue Economy Policy as a forward-looking initiative for harnessing marine resources sustainably and expressed admiration for the facilities at the Maritime Academy of Nigeria, Oron, especially the training infrastructure.

He encouraged greater collaboration between the academy, Ministry of Education, and industry stakeholders to guide young Nigerians in pursuing maritime careers.

Oyetola, in his address, said the IMO chief’s visit reflected the strength of Nigeria’s relationship with the global maritime body.

Oyetola, in a statement issued by his Special Adviser, Media and Communications, Bolaji Akinola, said Nigeria’s partnership with the Nigerian Navy and other stakeholders had been pivotal in suppressing piracy in the Gulf of Guinea. He reaffirmed the country’s determination to consolidate recent gains and expand opportunities in marine and blue economy.

He thanked Domínguez for choosing Nigeria for the visit and expressed optimism that the discussions would further strengthen bilateral cooperation.

During the visit, presentations were delivered by top government officials and key stakeholders in the sector.

Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, highlighted ongoing reforms and initiatives in security, seafarers’ welfare, and regulatory frameworks aimed at positioning Nigeria as a leading maritime nation.

Acting Rector of Maritime Academy of Nigeria (MAN), Oron, Dr. Kevin Okonna, showcased the academy’s modern training facilities and underscored the importance of international partnerships in cadet exchange and simulator-based training.

Managing Director of Lekki Free Trade Zone, Mr. Wang Qiang, outlined the port’s role in boosting Nigeria’s cargo handling capacity, creating jobs, and attracting long-term foreign investment.

Domínguez also interacted with cadets of MAN, urging them to embrace emerging opportunities in the maritime sector, particularly in renewable energy, green shipping, and maritime technology.

He reaffirmed IMO’s commitment to working closely with Nigeria to strengthen maritime safety, enhance governance structures, and drive the sustainable growth of the blue economy, stating that the country’s achievements already serve as a model of excellence for Africa and beyond.

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Kasim Sumaina in Abuja Secretary-General of International Maritime Organization (IMO), Mr. Arsenio Domínguez, has lauded Nigeria’s achievements in maritime security, particularly its success in recording zero piracy incidents for over

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