Business
NCAA Declares 44,712 Luggages Missing On Nigeria’s Airlines
At least, 44,712 luggages were declared missing among 29 local and international airlines that operated in Nigeria’s airports in 2018, a report obtained from the Nigerian Civil Aviation Authority (NCAA) has revealed.
The report further revealed that in 2018, there were at least 15,645 flights operated on international routes, while another 59,818 flights were operated on the domestic routes within the period.
NCAA stated that its Consumer Protection Directorate (CPD) received a total number of 161 complaints from air travellers in 2018 with 99 of such complaints resolved by the directorate.
The breakdown indicated that the CPD received 74 complaints on the international scene and resolved 36 of such, while 87 complaints were received from the local operating airlines with 63 of such resolved within the period under review.
According to the report, Air France led the pack with 6,175 missing luggage on the international scene, while Air Peace led the other eight indigenous carriers on the local scene with 66 missing baggage within the period under review.
The report, however, indicated that 41,498 of the missing luggage were later retrieved by their owners, while the other 3,214 luggage could not be recovered by the airport authorities.
Apart from Air France with the 6,175 missing luggage, on the international scene, other airlines involved in missing luggage were KLM with 5,088; African World Airlines, 308; Air Cote d’Ivoire, 670; Air Namibia, 221; Arik Air, 172 and Asky, 1,167;
Continuing : British Airways, 4,273; Cam Air-Co, 109; Cronos Air, one; Delta Air Lines, 3,473; Egypt Air, 2,448; Emirates, 1,725; Ethiopian Air, 1,946; Etihad, 472; Kenya, 1,152, and Lufthansa with 3,750 missing luggage.
Others were Mediana, 218; Med-View, 25; Middle East, eight; Mid Africa, 112; Qatar Airways, 1,238; Royal Air Maroc, 2,624; RwandAir, 1,234; South African Airways, 762; Turkish Air, 4,348, and Virgin Atlantic had 1,166 missing luggage within the period.
On the local scene, out of the eight local airlines that operated within the period under review, seven out of them, except Azman Air, had issues of missing baggage in 2018.
According to the report, Air Peace had 66 missing luggage with 63 of them recovered within the period, while Arik Air recorded 59 missing luggage with 55 of them recovered.
Also, Dana Air had 34 of its air passengers’ luggage missing with 32 of them recovered between January and December, 2018; Aero Contractors had six missing luggage with all of them recovered within the period.
Besides, Max Air recorded four missing luggage with all of them recovered, while Med-View and Overland Airways also had two luggage of their passengers missing within the period, but were later recovered.
In all, 173 luggage were declared missing in 2018, but 164 of them were recovered with nine not returned to their owners till date, according to the report.
Besides, the report indicated that in 2018, no fewer than 734 flights were cancelled among operating airlines, international and local.
Of these numbers, 190 were cancelled on the international scene, while a massive 544 occurred within the local airlines.
In all, there were 85 air returns in 2018; 25 among international carriers and 60 among the local operating airlines.
According to NCAA, all the operating airlines recorded 70 overbooking between January and December 2018 with international airline recording 11, while 58 of such occurred among the eight local carriers.
The regulatory agency in the report further stated that air travellers on local and international scenes experienced 92 numbers of luggage pilfering across the airport with 63 of such recorded on the international scene, while the other 29 was on the local scene.
The regulatory agency’s report emphasised that in the past year, all the international airports in the country recorded a total number of 1,994,099 in-bound passengers and 2,084,980 out-bound passengers, thereby bringing the total of international passengers to 4,079,079.
On the local scene, a total number of 10,092,643 were in-bound and out-bound passengers.
Of these numbers, 5,033,669 were in-bound passengers, while the other 5,058,974 were out-bound passengers.
The record showed that the entire Nigerian airports recorded 14,171,722 passenger movements in the past year.
Nkpemenyie Mcdominic, Lagos
Business
FG Approves ?758bn Bonds To Clear Pension Backlogs, Says PenCom
Business
Banks Must Back Innovation, Not Just Big Corporates — Edun
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
Business
FG Seeks Fresh $1b World Bank loan To Boost Jobs, Investment
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.
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