Connect with us

Business

That Bilateral Air Services Agreement With Israel

Published

on

In spite of the rising volume of trade between Nigeria and Israel and the large number of Nigerians performing the yearly Christian pilgrimage to Israel, there is no direct air link between the two countries.

As a result of this, “spiritual visits’ to the Holy Land and business trips have been tortuous and rigorous due to the absence of direct flights between Nigeria and Israel.

This is because anyone travelling to Israel from Nigeria has to make a compulsory stopover in countries like Turkey, France, Germany, Cyprus and Ethiopia before proceeding on the journey

Statistics from Israel’s Ministry of Tourism, however, indicate that Nigeria has the highest number of pilgrims coming to Israel after the U.S.

Observers, therefore, believe that the signing of Bilateral Air Services Agreement (BASA) with Israel in Jerusalem on October 28, 2013 would redress the trend.

The Acting Minister of Foreign Affairs, Prof. Viola Onwuliri, who signed the agreement on behalf of Nigeria, said that the agreement would deepen bilateral ties between the two countries and boost their economies.

“The agreement will augur well for movement of persons, pilgrims, businessmen, academics, the civil society and students. Many of our people also come here to benefit from the technology of Israel,’’ she said.

Onwuliri said that the agreement would also make a tremendous impact on trade and investment, agriculture, construction, tourism, security and capacity building.

Mr Zeev Elkin, who signed on behalf of the State of Israel, noted that the visit of President Goodluck Jonathan, who was in Israel when the agreement was signed, provided a great opportunity for the signing of the agreement.

The Minister of Aviation, Ms Stella Oduah, said that the BASA agreement would be exploited to enhance the performance of the aviation sector. She said that the aviation sector was already targeting the operation of daily flights to Israel.

On his part, Mr John Kennedy Okpara, the Executive Secretary, Nigerian Christian Pilgrims Commission, said that the agreement could reduce the number of hours which pilgrims spent on flights, as well as cut costs.

Mr Ike Willie-Nwobu, the Executive Director, Nigeria-Israel Chamber of Commerce (NICC), said that the BASA agreement with Israel would remove some barriers hindering trade between the two countries.

He stressed that Nigerian entrepreneurs had not been able to fully utilise the investment opportunities in Israel because of the rigours of travelling through connect flights.

“Anyone travelling to Israel from Nigeria has compulsory stopovers in countries like Turkey, France, Germany and Ethiopia before proceeding on the journey.

“This has been a major disincentive to Nigerian entrepreneurs seeking business ties with their Israeli counterparts,” he said.

Willie-Nwobu said that the agreement would open new frontiers for investment opportunities in various sectors of the economy.

“There will be opportunities for airlines that are interested in flying through major air routes in Nigeria and Israel.

“It will also create a crash in the price of flight tickets which is currently between N400,000 and N450, 000. It will shorten business transactions and reduce restrictions on export of goods,” he said.

Mr Jude Arinze, Executive Secretary of NICC, said that the BASA agreement would definitely boost trade between the two countries.

He said that the value of Nigeria’s exports to Israel had increased from N2.7 billion in 2012 to N4.5 billion in 2013.

While Israel’s import from Nigeria, however, declined from N14.6 billion in 2012 to N9.3 billion in 2013 and the current trade deficit between the two countries was N12.5 billion.

Apart from economic interests and pilgrimage binding Nigeria and Israel together, the two countries share common stance in global peace and fight against terrorism.

Israel’s President Shimon Peres, who met Jonathan during the 2013 pilgrimage to Israel when the BASA deal was signed, said that both countries were facing the menace of terrorism.

Peres said that Nigeria and Israel had been steadfast partners in efforts to combat radical religious terror groups such as al-Qaida, Hezbollah and Boko Haram.

“With Nigeria at our side on the front against terror, we remain determined as ever to combat the spread of darkness. The future can be saved by making peace; it is in Israel’s interest to live in peace with our neighbours. Peace, in itself, may be the greatest benefit to the two of us — Israel and Palestine.

“Terrorists all over the world are united in their attempt to destroy hope and unity; those of us who seek peace and freedom must be united in order to defend our common front,’’ Peres said.

On his part, Jonathan acknowledged the unrelenting efforts of the Israeli president to bring about a peaceful solution to the protracted Israeli-Palestinian conflict.

He said that Nigeria welcomed the commitment to peace talks by both sides and the recent release of a number of Palestinian prisoners by Israel. We urge that the momentum for negotiations and eventual resolution of the crisis be sustained,’’ he said.

Jonathan noted that with the burgeoning peace between Israel and her neighbouring countries, more Nigerians would be encouraged to visit the State of Israel.

He said that the number of Nigerians visiting Israel annually was ever increasing, stressing that not less than 30,000 Nigerians visited Israel in 2012.

Jonathan also said that about 50 Israeli companies were actively operating in Nigeria, either directly or through joint ventures.

He listed the areas of Israeli involvement in Nigeria as agriculture, construction, communications, infrastructure, water management and resources, education and health.

Stakeholders urge the Federal Government to improve Nigeria’s economic relations with the State of Israel, while aiding the fulfilment of the BASA agreement with the Middle East country.

Okoronkwo for News Agency of Nigeria (NAN).

 

Chijioke Okoronkwo

Continue Reading

Business

PENGASSAN Tasks Multinationals On Workers’ Salary Increase 

Published

on

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.
Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.
The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.
PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.
He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.
“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.
Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.
“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.
“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.
“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.
“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.
Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.
“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.
“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.
“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.
Continue Reading

Business

SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

Published

on

The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.
The Commission disclosed this in a statement posted on its website.
According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.
The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.
According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.
“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.
The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.
Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.
“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.
The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.
It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.
Continue Reading

Business

NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products 

Published

on

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.
The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.
NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu
Continue Reading

Trending