Business
Air Traffic Controllers, Others Back Out Of Protest
Despite the protest by the staff of Federal Airport Authority of Nigeria (FAAN), over the hand over of the decaying infrastructure to Bi-Courtney Aviation Services Limited last week by the Federal Government, activities at the airport continued peacefully with flights taking off and landing.
The Tide’s visit to the Airport, can authoritatively reveal that the Air Traffic Controllers (ATC) did not join in the protest, a set back to the demonstrators who had wanted all airport staff to join them.
Also, back out of the protest is the Nigerian Civil Aviation staff.
The demonstrators, who carried placard and singing songs, warned that if the meeting in Abuja was deadlocked, they will launch a full blown protest at mid-night to paralyze all the activities at the airport.
The staff of the Federal Airport Authority of Nigeria (FAAN), under the aegis of the National Union of Air Transport Employees (NUATE) and Air Transport Senior Staff Association of Nigeria (ATSSAN), were of the opinion that the federal government was not meant to hand over, when about nine of their members were meeting in Abuja with the Presidency.
The assistant General Secretary of NUATE, Comrade Abdulkareem Motajo, said that it was illegal for the federal government to have handed over the terminal to Bi-Courtney but admitted that there is need for private investors to come into the aviation industry and develop the dying sector.
“But the way to go about it is the problem”, he said.
The federal government handed over GAT to Bi-Courtney recently to build operate and transfer it back to the government.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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