Business
ARIK AIR OF THIEVES “How Arik Air ‘steals’ from us” — passengers
The Aviation Minister, Osita Chidoka, on Monday said the ministry has arrested three Arik Air staff for stealing fuel from an aircraft.
Making the announcement on his official Facebook page, Chidoka said “the trio of Blessing Dugbe, Samuel Asuquo and Isaac Ajakaiye were arrested at the Murtala Mohammed International Airport, Lagos, during a security patrol operation on Sunday at about around 3 a.m. The trios were stealing Jet A1 fuel from Arik Air plane, with registration number: 5N-MID into six jerry cans for sale at a cheaper price to other unsuspecting airline operators. It’s a development that has the capacity to threaten safety and security of airplanes. Meanwhile, the three (3) suspects were handed over to the Crime Investigation Bureau (CIB), AVSEC MMIA for further action,” Mr. Chidoka said.
He said considering the magnitude of the crime to the security and safety of airplanes, the chief security officer of the Lagos airport has been asked to ensure that the suspects are handed over to the airport police for adequate prosecution.
This is not the first time that Arik staffers are accused of theft. Passengers have often lamented the loss of one item or the other, ranging from iPad, jewelleries, money, clothes to perfumes aboard the airline’s flights.
“Arik Air inflight theft (Flight no. W3 151 @ 0700hr, 24th April, 2014.
“I boarded this Arik Air flight from Abuja to Lagos 16th June, 2012 to connect an international flight. The flight scheduled to depart at 14:25 eventually left just around 15:00, which is a relatively good time considering the fact that delays of over 6 hours are the norm these days.
First off, we couldn’t find where to sit as the cabin crew informed us that it was ‘free sitting.’ I wondered why the order guaranteed with seat allocation was discarded for the chaos of “free sitting.” Most of the passengers were not pleased. During the flight, I read a book and discussed an article I was working on with my friend Azeenarh. She encouraged me to get started with the article already.
At this point I picked up my ipad to write, trying to imagine what happened in the last minutes of the Dana Crash. I had done some 500 words when the pilot announced that we were almost landing and all the routine of sitting upright, putting out electronic equipment meant that I had to stop using the ipad. I put the ipad in the seat pocket right in front of me.
On arrival in Lagos, I helped Azeenarh with her bag which was under the seat in front of her, while others in the usual style rushed to go out. We took our time and eventually alighted from the aircraft. When we got to Allen Avenue, I realised I had left my Ipad in the aircraft. We quickly dashed to the airport and we were fortunate to find out that the aircraft that brought us was still on ground.
We finally met one Lanre who was in charge of complaints as mine – “Lost and Found” is what they call it. “Lost and Gone” would be more apt based on my experience. His friend asked him in Yoruba if he had seen anything and he mumbled something which I didn’t hear. I didn’t like the fact that they were even speaking Yoruba in mumbled voices at this time and I told Azeenarh the comportment of the staff best compares with that of Lagos motor parks.
Lanre went and came back and said “they saw the ipad and put it inside your bag.” Of course that could not have happened. How could you have put an Ipad in my bag when the ipad was not tagged? How did you know which bag to put it in? While we were arguing about this, he left to attend to other passengers who had even more interesting complaints.
Mary Chen as stated earlier had travelled from Lagos to Abuja (Flight W3 155, 11:45 June 12, 2012) to lodge a complaint. She found out that her jewelleries (gold trinkets INCLUDING her wedding ring) inside her jewelry box had been stolen. She had checked this box in and it was obvious someone had found a way to open the bag, steal her jewelleries and left the bag as if nothing had happened. There were other people with complaints of theft as Mary noted when she made her complaint the first time.
Asked about making a report, the Arik Air staff with phone number 08077791490 (the official number for complaints such as mine and Mary’s) said there was no form to fill, there was no superior to talk to, and that just verbally telling him was enough. Essentially there was nothing to document the complaints.
Why should someone who made a report a week after he had lost something just as valuable as my ipad, have his lost good returned to him within minutes of asking and I who made my report within 90 minutes of forgetting my ipad has to force Arik Air to do the needful? Lanre said they found the ipad and put it in my bag; that established the fact that the ipad was at least found. Emirates found the camera and kept it in place for the owner who claimed it on his return journey a week after.
Arik Air found my ipad and claimed they had put it in my bag. The difference is why you can check in your luggage on Emirates airline and connect flights around the world and be sure they can be trusted to take care of even your lost good. With the other, your luggage is in danger on even a flight as short as Lagos – Abuja, even in a locked box like Mary’s.
I will be posting more reports on thefts such as this for now and would give special preference to Arik Air stolen goods reports.
The hashtag on twitter is #ArikAirWhereIsMyIpad”
somehow i forgot i had a pair of scissors in my hand luggage which was spotted during scan.
The attendant requested i drop it before i can board. This wasn’t a big deal but I first had to almost empty my bag just to locate the scissors during which process i place certain items including my samsung camera on the desk. I foolishly let the dude assist me in getting my items back in my bag. That was the last time i saw the camera. It took me till last year to resume flying with Arik as i was seriously pissed.- anonymous
Funny enough while typing this reply, my boss narrated his own experience on how his pouch containing valuables and ID cards was lost when he flew Arik from Port Harcourt to Abuja and all efforts to locate the items proved a abortive”.- anonymous
Business
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.
But that narrative is quietly changing. Thanks to FirstBank.
The N1 Trillion Intervention Reshaping Access
In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.
Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
9.75% Interest Rate in a 30% Lending Environment
MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
Built for Salary Earners, Entrepreneurs and the Diaspora
The MREIF mortgage facility has been structured to be inclusive. It is available to salary account holders, business owners and diaspora customers. Whether you are a young professional aiming to exit the rent cycle, an entrepreneur building generational stability, or you’re a Nigerian abroad looking to secure assets locally, the product opens a pathway that has historically been out of reach for many.
Taking the First Step
For those who have been waiting for the right time, this is definitely it. The question is no longer whether homeownership is possible. The real question is: will you act before the window narrows?
Visit https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ and in no time you could be the latest homeowner in town.
Bank
Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Business
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Nigeria insulated from international fuel shocks as Dangote Petroleum commits to uninterrupted local delivery.”
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to prioritising the domestic market, pledging to shield Nigerians from the ripple effects of ongoing global energy disruptions. The assurance, delivered in Lagos on 5 March 2026, comes as international refinery operations experience shutdowns or reduced output due to escalating Middle East geopolitical tensions, which have sent crude oil and petroleum product prices soaring worldwide.
“Our mandate remains clear: Nigeria’s local market takes precedence. In times of global supply shocks, we will continue to ensure that domestic availability of petrol, diesel, and kerosene is uninterrupted,” said Mr. Folorunsho Alakija, spokesperson for Dangote Petroleum Refinery.
The refinery’s declaration arrives amid mounting concerns over fuel scarcity, triggered by export restrictions imposed by major international producers, including China, and shipping delays that have further tightened global petroleum supply chains. Industry analysts have hailed the domestic focus as a critical buffer against volatility that could otherwise push Nigeria into deeper energy insecurity.
Domestic Shield Against Global Disruption
Dangote Refinery, Africa’s largest oil processing facility, has leveraged its multi-million-barrel refining capacity to mitigate Nigeria’s historical dependence on imported petroleum products. The company emphasised that prioritising local supply provides a strategic advantage in insulating the nation from international market shocks.
“Our refinery’s scale allows Nigeria to withstand short-term external disruptions. We have the infrastructure and capacity to meet local demand even when global supply chains falter,” explained Mr. Chijioke Okonkwo, Operations Director at Dangote Refinery.
The proactive approach is particularly significant as several international refineries have either reduced throughput or temporarily halted operations, causing a global scarcity of refined products. Experts warn that without domestic cushioning, fuel prices in Nigeria could have surged sharply, exacerbating inflationary pressures in a fragile economy.
Managing Costs While Prioritising Supply
In response to rising procurement costs for crude oil amid the international crisis, Dangote Refinery introduced a modest ₦100 per litre increase in the ex-depot price of Premium Motor Spirit (PMS), absorbing roughly 20 percent of the cost escalation to lessen the impact on consumers.
“We are balancing operational sustainability with affordability. While global prices have risen sharply, we have chosen to absorb a significant portion to protect Nigerian households and businesses,” noted Mr. Emmanuel Adeyemi, Chief Finance Officer.
This pricing strategy underscores the refinery’s dual focus: ensuring uninterrupted supply while cushioning the public from abrupt spikes that could destabilize economic activity. Industry observers have lauded the approach as pragmatic, considering the volatility in international oil markets.
Strategic Distribution Initiatives
Beyond refining, Dangote Petroleum has initiated Compressed Natural Gas (CNG) powered trucks to enhance nationwide distribution efficiency. The initiative seeks to reduce logistics costs and carbon emissions while ensuring a more reliable delivery network to petrol stations across urban and rural areas.
“Logistics is a critical part of the energy supply chain. By deploying CNG-powered trucks, we reduce dependency on expensive diesel, lower delivery costs, and improve supply reliability across the country,” explained Ms. Funke Adedoyin, Head of Logistics Operations.
This strategic move reflects a broader commitment to modernising Nigeria’s petroleum distribution infrastructure, reducing bottlenecks that have historically contributed to scarcity at retail outlets.
Implications for National Energy Security
Nigeria has historically struggled with fuel imports to meet domestic demand, making the country vulnerable to international market fluctuations. Dangote Refinery’s prioritisation of local supply mitigates this vulnerability by leveraging home-grown refining capacity, which allows for timely access to petroleum products and less reliance on foreign shipments.
“With Dangote Refinery leading local prioritisation, Nigeria is less exposed to global fuel shocks. The country is moving towards self-reliance in petroleum product supply,” commented Dr. Halima Suleiman, energy sector analyst.
Experts note that sustained operations at the refinery not only enhance energy security but also preserve foreign exchange, reduce import bills, and stabilise domestic market prices.
Corporate Social Responsibility and Market Stability
The refinery’s commitment is part of a broader corporate responsibility framework. Dangote Petroleum continues to engage with government agencies and regulatory bodies, ensuring that domestic supply is coordinated with Nigeria’s Petroleum Product Pricing and Regulatory Agency (PPPRA) to prevent panic buying and market distortions.
“We are in constant consultation with the government to ensure that our supply strategies align with national economic priorities,” said Mr. Alakija.
Such collaboration helps avert artificial shortages, stabilises pump prices, and maintains confidence in the domestic fuel market. Analysts argue that this approach exemplifies how private sector capabilities can complement governmental policies to enhance national resilience.
Navigating Global Uncertainties
The refinery operates in a complex global environment, where geopolitical crises, shipping constraints, and crude oil volatility can trigger disruptions. Dangote Petroleum’s domestic-first approach positions Nigeria to weather such crises more effectively.
“Global uncertainties are unavoidable, but our infrastructure and strategy ensure that Nigerians remain insulated from immediate shocks,” said Mr. Okonkwo.
This emphasis on resilience aligns with global best practices, where national refining capacity is leveraged to protect local markets from international supply disruptions.
Stakeholder Reactions
The government, civil society, and industry stakeholders have welcomed Dangote Petroleum’s strategy. Officials from the Federal Ministry of Petroleum Resources noted that prioritising local supply aligns with Nigeria’s energy security policies and reduces the burden of foreign exchange expenditures on crude imports.
“Dangote Refinery is demonstrating leadership. Its domestic prioritisation ensures that the Nigerian economy remains insulated during turbulent global markets,” said Dr. Tunji Olumide, Special Adviser on Energy.
Consumers have also expressed cautious optimism. Retail operators and commuters reported steadier fuel availability in Lagos and other cities, though concerns remain about sustained pricing and distribution efficiency.
The Road Ahead
While Dangote Refinery’s strategy provides immediate relief, experts argue that long-term stability requires further investments in alternative energy, diversified refining infrastructure, and strategic reserves. This ensures that Nigeria can withstand global shocks without relying excessively on imports or temporary supply adjustments.
“Short-term measures like prioritising local supply are critical, but long-term energy security demands diversification, renewables adoption, and consistent policy implementation,” said Dr. Suleiman.
The refinery is exploring additional initiatives, including expanding storage capacity, upgrading pipeline networks, and adopting technology-driven monitoring systems to ensure supply continuity across the country.
Final Take
By prioritising domestic fuel supply amid global market turbulence, Dangote Petroleum Refinery and Petrochemicals has demonstrated its role as a stabilising force in Nigeria’s energy sector. Through strategic logistics, modest pricing adjustments, and engagement with government regulators, the refinery is insulating the nation from international shocks while maintaining operational sustainability.
“Our responsibility extends beyond profitability; it’s about ensuring Nigerians have reliable access to essential fuel. We take that mandate seriously,” concluded Mr. Adeyemi.
The refinery’s actions offer a blueprint for how large-scale domestic capacity can protect national economies in times of global energy instability, underscoring the critical intersection of private sector resilience, public policy, and national energy security.
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