Business
Union Lauds FG On Sack, Demotion Of FAAN Officials
The National Union of Air Transport Employees (NUATE) has lauded the Federal Government’s decision to sack and demote 22 top officials of the Federal Airports Authority of Nigeria (FAAN).
Mr Olayinka Abioye, the NUATE General Secretary, told The Tide source in Lagos yesterday that the restructuring should be extended to other aviation agencies.
Our source reports that as part of the Federal Government’s plan to restructure the aviation sector, some general managers and deputy general managers of parastatals in the sector were demoted.
Some managers formerly placed on Level 17 were in a letter issued by the Federal Ministry of Transport demoted to Level 10 and redeployed to other departments in the same organisation.
The restructuring followed the recommendations of the Presidential Committee chaired by Mrs Winifred Oyo-Ita, Head of the Civil Service of the Federation.
Abioye said, “We have written several letters to the government about it, and it was part of our demands.
“We want it to be carried out in all the aviation parastatal agencies.
“We also believe that there should be less interference in the running of these agencies.
“The exercise that was carried out in FAAN on Wednesday ought not to have happened in the first instance, if we have done our work properly.
“What usually happens is that political patronage took precedence over public service rules and regulations.
“You can imagine a young graduate of 10 years, who was appointed a general manager, which will take a career public servant 26 years to get to.”
According to him, these agencies should be allowed to work within the purview of the acts that established them for the betterment of the industry, and the country in general.
Abioye also called for a stakeholders’ meeting where each of the parastatals would put forward the challenges limiting them from engaging in quality service delivery.
Some FAAN workers were seen yesterday at the Murtala Muhammed Airport, Lagos, headquarters of the agency, discussing the development in hushed tones.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.