Business
Aero Contractors Resumes Flight Operations In PH
Aero Contractors Airline that was suspended for about a year has finally resumed flight operations at the Port Harcourt International Airport, Omagwa.
Although the reason for the suspension of operations at the airport was not adequately made known, The Tide gathered that it was part of efforts of the airline to put things in order for more efficient services.
The coming back on board of the airline, which resumed operations at the airport last Monday, has heralded another level of competition among the airlines, in terms of flight ticket prices, alongside the one that Dana Airline had championed when it resumed operations recently.
The Tide further gathered that the Aero Airline brought their flight ticket to as low as N50,000 for the economy class for both Abuja and Lagos passengers, just like Dana Airline did on their resumption, even at this time that some other airlines are itching to increase prices.
Reacting to the impact of the Aero Contractors resumption, one of the travel agents at the airport, Maxwell Egbo, said in a chat that the airline had brought capacity and confidence to the travelling public through their services.
“Aero Contractors is one of the airlines that has kept the Port Harcourt Airport in favourable price competition, and people have come to like their services and style of operations, as they are usually not in a hurry to hike prices.
“If not for Aero and Dana, the ticket prices in this airport would have gone so high, and the reason flight ticket prices went so high to as much as N120,000 some months back, was because the two airlines were not operating.
“If they were operating, the prices of tickets would not have gone so high here. But as they have resumed operations, you can see that prices have come down very well”, he said.
Agreeing with Maxwell’s position, a protocol officer with one of the multinational companies, Mr Alex Ibe, said the resumption of the Aero Contractors this December will further create stability in operations and prices.
According to him, some of the airlines that cancel flight movement, and reschedule at will, are now sitting up, because there are alternatives with better services, and no airline wants to operate empty.
The coming back on board of the Aero Contractors airline, which resumed operations last Monday, was a welcome delight to the stakeholders and users of the airport, particularly the protocol and travel agents at the airport.
By: Corlins Walter
The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.
In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.
“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.
According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.
Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.
They must also create separate accounts to warehouse processing charges collected on excess withdrawals.
Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.
However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.
The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
Mr Festus Osifo, President of PENGASSAN, said this while briefing newsmen at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja.
He said the sector was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
“A drilling engineer in Nigeria does the same job as one in the U.S. or Abu Dhabi,” he said.
Osifo said the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
He said PENGASSAN had recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said.
He urged government to coordinate fiscal and monetary policies to ensure economic gains reach households.
“Translate macro results to food on the table,” he said.
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