Connect with us

Business

NCAA rejects Nigeria Air’s request to proceed to phase two of AOC acquisition, says ‘ there’s no documents’

Published

on

The Nigerian Civil Aviation Authority (NCAA) has rejected an application by Nigeria Air to proceed to phase two in the process of obtaining its air operators certificate (AOC).

In a letter seen by newsmen, dated June 2, 2023, NCAA said due to the unavailability of a “formal application form” and other “necessary documents”, the certification process cannot progress to phase two.

“The authority is in receipt of your letter dated May 25, 2023, on the above subject matter,” NCAA said.

“Quite contrary to our earlier letter of 16th May 2023, which enumerated the documents to be submitted with the formal application form OPS 002, your letter of request to proceed to phase two has no inclusion of a formal application form and the necessary documents referenced in the formal application form.

“Hence, the certification process cannot progress to phase two without these required documents.

“Please be reminded that your post holders’ letters of commitment to Nigeria Air have a tenure of three months and as such expire now. “

STAGES IN ACQUIRING AN AOC

A year ago, the federal government granted an air transport license (ATL) to Nigeria Air to commence operation.

But the proposed national carrier has been unable to complete the requirements for the issuance of the AOC, which — among other requirements for an airline to operate — is a note of authority issued to airlines that fully guarantees them the right to begin air services.

There are five stages involved in acquiring the AOC, according to NCAA.

In phase one, NCAA appoints a certification team and processes the pre-application statement of intent form (AC-OPS 001). Discussions on all regulatory requirements, the formal application and attachments, and any other related issues will take place.

This process usually takes a week to complete.

Moving to the second phase, a formal application for intending entrants where documents and manuals (including the curriculum vitae of key management personnel) must be submitted for evaluation. The minimum timeframe for the formal application phase is two weeks.

The third stage involves a document evaluation, where the NCAA will review the applicant’s manuals and other related documents and attachments to ensure conformity with the applicable regulations and safe operating practices.

The minimum timeframe for the document evaluation phase is three months.

From there, NCAA’s scrutiny moves to the fourth stage: the demonstration and inspection — a key phase of the process carried out only after a satisfactory documentation evaluation phase.

In this stage, a thorough audit by the certification team at the applicant’s premises will be conducted to ensure that the proposed procedures are effective and that the applicant’s facilities and equipment meet the NCAA’s regulatory requirements.

Also in phase four, other demonstrations like the emergency evacuation and ditching will be carried out, and after successes in these exercises; a demonstration flight will be carried out. The minimum timeframe for the demonstration and inspection phase is two months.

The fifth and final phase is certification and this means once the airline has met the regulatory requirements of the civil aviation (air navigation) regulations, the NCAA will issue the AOC with the appropriate specifications and ratings.

The minimum timeframe for the certification phase is one week, and after the issuance of the AOC, the applicant can engage in commercial aviation activities in Nigeria.

Business

Diesel price increased to N1,462 per litre in June, says NBS

Published

on

By

The National Bureau of Statistics (NBS) says the average price of automotive gas oil (AGO), also known as diesel, was N1,462.98 per litre in June.

In its automotive gas oil (diesel) price watch for June 2024 on Wednesday, the bureau said this represents an increase of 4.20 percent compared to N1,403.96 reported in May.

“The average retail price of automotive gas oil (diesel) paid by consumers increased by 79.32% on a year-on-year basis from a lower cost of N815.83 per litre recorded in the corresponding month of last year (i.e., June 2023) to a higher cost of N1462.98 per litre in June 2024,” NBS said.

“On a month-on-month basis, an increase of 4.20% was recorded from N1403.96 in the preceding month of May 2024 to an average of N1462.98 in June 2024.

“Looking at the variations in the state prices, the top three states with the highest average price of the product in June 2024 include Niger State (N1979.23), Cross River State (N1920.86), and Taraba (N1742.46).

“Furthermore, the top three lowest prices were recorded in the following states namely, Lagos state (N1210.77), Ogun state (N1239.17), and Abuja (N1240.00).”

Based on zonal representation, the bureau said the north-east zone has the highest average diesel price of N1,659.07; while the south-west zone has the lowest price of N1,280.54.

Continue Reading

Business

CBN announces date to hold MPC meeting

Published

on

By

The Central Bank of Nigeria (CBN) has announced its forthcoming monetary policy committee (MPC) meeting.

In a statement on Tuesday, the CBN said its 296th MPC meeting between July 22 and 23.

The committee is the highest policy-making committee of the bank, led by Olayemi Cardoso, CBN governor.

The MPC meeting is set up to review the country’s economic and financial conditions and determine the appropriate monetary policy direction in the short to medium term.

At the last meeting held on May 20 and 21, the committee raised the monetary policy rate (MPR), which benchmarks interest rates from 24.75 percent to 26.25 percent.

The MPC retained the asymmetric corridor at +100 basis points and -300 basis points around the MPR.

The committee also retained the cash reserve ratio (CRR) at 45 percent for deposit money banks and 14 percent for merchant banks.

Speaking to the press after the meeting, Cardoso had said the reason for the interest rate hike was to tame inflation.

He also said the committee’s efforts to contain inflation are yielding results.

On July 15, the National Bureau of Statistics (NBS) in its consumer price index (CPI) report for June, said Nigeria’s inflation rate rose to 34.19 percent in June 2024 — up from 33.95 percent in May.

According to the bureau, the headline inflation rate in June showed an increase of “0.24% points when compared to the May 2024 headline inflation rate”.

NBS also said food inflation surged to 40.87 percent in the month under review as prices of food and non-alcoholic beverages continued to surge.

Continue Reading

Business

Nigerians can now obtain UAE visas, says FG

Published

on

By

Mohammed Idris, minister of information and national orientation, says Nigerians can now apply for and obtain visas to the United Arab Emirates (UAE).

Idris said the federal government has reached an agreement with the UAE to allow Nigerian passport holders to obtain visas for travel to the Arab nation starting today, July 15.

The minister spoke with the State House correspondents in Abuja on Monday, shortly after the weekly federal executive council (FEC) meeting.

He said the agreement includes updated controls and conditions to be fulfilled before the issuance of a UAE visa.

On December 13, 2021, the UAE issued a travel restriction on passengers from Nigeria and the Democratic Republic of the Congo, citing a surge in the countries’ COVID-19 cases among passengers from the two African nations.

However, TheCable reported the travel ban might not be unconnected with the diplomatic row between Nigeria and the UAE over Air Peace’s flight frequency to the Arab country.

Air Peace had requested a slot of three weekly flights from Nigeria to Sharjah Airport in the UAE, but only one was granted by the country’s General Civil Aviation Authority (GCAA).

GCAA said Air Peace should not expect to retain its flight frequency after pulling out of Sharjah Airport; the Nigerian airline, however, denied the claim.

In retaliation for Air Peace’s treatment in the UAE, the federal government dropped Emirate’s slots from 21 to one, leading to the Dubai-based airline suspending all its flights to Nigeria.

In September 2023, the federal government said the airline would resume services in Nigeria, signaling a resolution of the dispute.

The assurance followed a meeting between President Bola Ahmed Tinubu and Mohamed bin Zayed, president of the United Arab Emirates.

But since the meeting and the federal government’s announcement, Emirates has yet to begin scheduled flight operations.

In April, Festus Keyamo, minister of aviation and aerospace development, said Emirates Airlines is prepared to resume flight operations to Nigeria.

Continue Reading

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

Most Read...