Business

Keyamo Lists Aviation Investment Opportunities For Investors

Published

6 months ago

November 18, 2025

Minister of Aviation and Aerospace Development, Festus Keyamo, has listed four areas of investment opportunities in the Federal Airports Authority of Nigeria (FAAN) to include airport infrastructure modernisation, world-class MRO hub, aviation leasing companies, and cargo and logistics hubs.
Speaking at the opening ceremony of the FAAN National Aviation Conference, FNAC 2025, at Eko Hotel, Lagos, Monday, Keyamo said leveraging the renewed hope funding, Nigeria is modernizing its terminals, rehabilitating runways, expanding aprons, and developing new cargo complexes, adding that some of these projects could be delivered transparently under PPP frameworks that guarantee viability and investor returns.
The Minister, who was represented by Ibrahim Kana, Permanent Secretary, Aviation Ministry, Ibrahim Kana, said Africa loses billions yearly to offshore maintenance, stressing that FAAN is positioned to facilitate a regional Maintenance, Repair, and Overhaul centre in Nigeria that would serve West and Central Africa, reducing costs, retaining capital, and creating high-skill jobs.
“With Nigeria’s significantly improved legal standing for aviation financing, the environment is primed for indigenous leasing firms. This is a direct opportunity to deepen aviation financing and support airline fleet modernisation.
“Nigeria’s agricultural and manufacturing potential demands efficient export gateways. Our plan for dedicated cargo and logistics hubs at key FAAN airports will unlock agro-exports, reduce spoilage, and integrate Nigerian producers into global value chains,” Keyamo explained..
He said these are not just concepts, as FAAN would present data, timelines, and structured business cases for investors.
The Managing Director/Chief Executive, Federal Airports Authority of Nigeria (FAAN), Olubunmi Kuku, who also spoke at the event, disclosed that six airports across Nigeria and numerous runways are currently undergoing a government-funded transformation.
Kuku said the gap between the airports’ current capacity and projected demand is an opportunity in terminal modernisation, cargo facilities, and airport cities.
She said FAAN seeks partnership in global expertise in management, ground handling, and logistics to enhance efficiency and share in the profitability of a growing market.
She noted that from biometrics to sustainable solutions, there is a need to invest in the future of African travel with Nigeria as Africa’s largest population, a growing economy, and a strategic geographic position, which presents great opportunities.
Speaking on the theme of the event, ‘Elevating the Nigerian Aviation Industry through Investment, Partnership & Global Engagements,’ Kuku said the industry is not just recovering but soaring to new heights.
According to IATA, she revealed, global passenger traffic is set to reach a historic 4.99 billion this year, decisively surpassing pre-pandemic levels, she said.
“The Airports Council International forecasts a surge to 9.7 billion passengers by 2040. And where is the centre of this next wave of growth? Africa. This is not just a statistic—it is a signal. A signal of billions of journeys, connections, and opportunities waiting to be unlocked. At the heart of this opportunity lies Nigeria,” Kuku said.
To truly ascend the aviation sector, she insisted that all hands must be on deck saying, “This is why I make a direct appeal to our valued unions: embrace this new era of collaboration. Your understanding and partnership are the bedrock upon which we will build.
“The private investment we seek is not a replacement for our workforce; it is the catalyst for its growth. It will create better facilities, more advanced systems, and ultimately, more and better jobs for Nigerians. Let us work together with a shared vision to welcome the capital that will secure our collective future”.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

2 days ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

2 days ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

7 days ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.