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Keyamo: Flying Nigeria’s Aviation Sector To New Heights* By Cletus Agada

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Aviation Unions Commend Keyamo Over Relocation of FAAN Headquarters to Lagos

Keyamo: *Flying Nigeria’s Aviation Sector To New Heights*

By Cletus Agada

 

 

It is no longer news that the honourable Minister of Aviation, Mr. Festus Keyamo, S.A.N. directed that the headquarters of the Federal Airport Authority of Nigeria (FAAN) be relocated back to Lagos. This directive was not difficult to comply with because the Abuja Headquarters status was just on paper as the day-to-day administrative and operational activities of the agency have always been carried out from Lagos.

 

 

Keyamo: *Flying Nigeria's Aviation Sector To New Heights*
By Cletus Agada

 

 

 

A statement by Mrs. Obiageli Orah, the Director of Public Affairs and Consumer Protection of the agency, said those affected by the decision have since returned to Lagos as there is no office space for them in Abuja That was even before the relocation order of the Honourable Minister was effected.

 

 

 

 

 

 

The question begging for an answer is how a critical, hands-on agency like FAAN relocated to a new city without first making provisions for adequate offices to accommodate her working staff. The second paragraph of Mrs. Orah’s statement should draw the attention of all men of conscience as it brings to mind how important government decisions are taken just to satisfy a few.

 

 

 

 

 

With an agency as technical as FAAN, decisions are supposed to go through some laid-down procedures, and the input of industry stakeholders is sought at all times but this never seems to have been done in this particular case.

 

 

 

In her widely circulated statement, Mrs Orah said; “Having returned to Lagos, the Authority would be liable to pay them DTA (DUTY TOUR ALLOWANCE) because technically they are working OUT OF STATION as their official posting is to ABUJA. The Minister has decided to stop this waste of public resources and rip-off on the public purse”.

 

 

 

 

 

 

This shows that the relocation of the Headquarters to Abuja was a very crafty way to line the pockets of some fat cats and big men in the agency who will be living their normal lives and working from the comfort of their offices in Lagos while smiling to the bank through claims of estacodes and other travelling allowances as Lagos would have been designated as an out-station when in a real sense, it is the actual corporate headquarters. Thankfully, the Honourable Minister intervened.

I believe this must have pricked the conscience of Keyamo. As someone who spent his early childhood going about with his father, a Jehovah’s Witness faithful; sharing tracks, handbills, and newsletters to the public for free, Mr. Keyamo was tutored in the act of bringing the ‘gospel’ to the doorsteps from infant and the aviation gospel is now beginning to feel the impact of this activist in government. This background could also be partly responsible for Mr. Keyamo’s vast knowledge in fields assumed to be strange to him and his strength in approaching every argument from an informed position, always quoting facts and figures to buttress his points.

For a man who began his professional legal practice at the Law Firm of the erudite social critic and rights activist, the Late Chief Gani Fawahinmi, Keyamo has found it difficult to divorce himself from the crusade for prudence and cost savings in government. To think that he can continue to cohabit with the wrongs of the past is like asking an architect to live in a house built on quicksand. I’m sure wherever Chief Fawehinmi is watching from right now, he would certainly be proud of the man Mr Keyamo has become.

The Bible says “When the foundation is faulty, what can the righteous do?”. Mr Keyamo is now providing an answer to this age-long question as a faulty foundation needs to be destroyed and a new one laid. For efficient and effective service delivery, a new solid base is needed to accommodate the realities of today and the dreams for tomorrow in the country’s aviation industry and that’s exactly what the Honourable Minister is doing.

An outspoken man and a fierce lawyer, Mr Keyamo who served as the Minister of State in the Ministry of Labour and Employment under the immediate past administration, shocked his former colleagues in his speech during the valedictory session by President Mohammadu Buhari to thank his Ministers and those who served in his government. Taking to the microphone with great confidence, Mr Keyamo who was first appointed as Minister of State for Niger Delta Affairs before being redeployed said the position of Minister of State was unconstitutional.

He explained that it is difficult to rate the performances of Ministers of State since their prudence was shackled with that of the substantive Ministers as any original ideas developed have to pass through the table of another colleague in the cabinet before they can sail through for consideration by Council.

If Mr Keyamo had any regret as Minister of State or an unimplemented policy during his time playing second fiddle in the office, God answered his prayers through President Bola Tinubu and allowed him to showcase and distinguish himself as a top-notch administrator and policy expert and so far, he has not betrayed the trust nor abused the confidence of Mr. President.

The laudable plans by the Minister as contained in the statement by Mrs Orah to get concessionaires to build befitting offices for the Authority in Lagos and Abuja must be commended. Over time, estate developers and rent-seekers have continued to connive with agencies of the federal government to milk the public purse through inflated rent bills that under normal circumstances, are big enough to erect permanent structures of a high standard for those agencies.

The aviation sector in the country today can be said to be in safe hands with Mr. Keyamo as Minister because he has proven himself to be a team player, ready to listen and work with expert opinions while building capacity across the board. He has put everyone concerned with the safety of our airspace on their toes and strived to rid the industry of indolence. The relocation of the FAAN Corporate Headquarters to Abuja in the first case was intended to encourage highly trained personnel to roam about without an office or equipment to work with.

It would be recalled that barely one month to the expiration of the tenure of the last administration of President Mohammadu Buhari in May 2023, the then Minister of Aviation, Senator Hadi Sirika ordered the relocation of some aviation agencies from the Muritala Mohammed International Airport Lagos for their office buildings to be demolished and pave way for the construction of an acropolis. If the idea is a developmental step worthy of commendation, the right thing to do would have been to find another befitting structure to accommodate those agencies rendering critical services in the aviation industry within the city.

The proximity of these services to the Lagos Keyamo: *Flying Nigeria’s Aviation To New Heights*

By Cletus Agada

It is no longer news that the honorable Minister of Aviation, Mr. Festus Keyamo, S.A.N directed that the headquarters of the Federal Airport Authority of Nigeria (FAAN) be relocated back to Lagos. This directive was not difficult to comply with because the Abuja Headquarters status was just on paper as the day-to-day administrative and operational activities of the agency have always been carried out from Lagos.

A statement by Mrs. Obiageli Orah, the Director of Public Affairs and Consumer Protection of the agency, said those affected by the decision have since returned to Lagos as there is no office space for them in Abuja. That was even before the relocation order of the Honourable Minister was effected.

The question begging for an answer is how a critical, hands-on agency like FAAN relocated to a new city without first making provisions for adequate offices to accommodate her working staff. The second paragraph of Mrs. Orah’s statement should draw the attention of all men of conscience as it brings to mind how important government decisions are taken just to satisfy a few.

With an agency as technical as FAAN, decisions are supposed to go through some laid-down procedures, and the input of industry stakeholders is sought at all times but this never seems to have been done in this particular case.

In her widely circulated statement, Mrs Orah said; “Having returned to Lagos, the Authority would be liable to pay them DTA (DUTY TOUR ALLOWANCE) because technically they are working OUT OF STATION as their official posting is to ABUJA. The Minister has decided to stop this waste of public resources and rip-off on the public purse”.

This shows that the relocation of the Headquarters to Abuja was a very crafty way to line the pockets of some fat cats and big men in the agency who will be living their normal lives and working from the comfort of their offices in Lagos while smiling to the bank through claims of estacodes and other travelling allowances as Lagos would have been designated as an out-station when in a real sense, it is the actual corporate headquarters. Thankfully, the Honourable Minister intervened.

I believe this must have pricked the conscience of Keyamo. As someone who spent his early childhood going about with his father, a Jehovah’s Witness faithful; sharing tracks, handbills, and newsletters to the public for free, Mr. Keyamo was tutored in the act of bringing the ‘gospel’ to the doorsteps from infant and the aviation gospel is now beginning to feel the impact of this activist in government. This background could also be partly responsible for Mr. Keyamo’s vast knowledge in fields assumed to be strange to him and his strength in approaching every argument from an informed position, always quoting facts and figures to buttress his points.

For a man who began his professional legal practice at the Law Firm of the erudite social critic and rights activist, the Late Chief Gani Fawahinmi, Keyamo has found it difficult to divorce himself from the crusade for prudence and cost savings in government. To think that he can continue to cohabit with the wrongs of the past is like asking an architect to live in a house built on quicksand. I’m sure wherever Chief Fawehinmi is watching from right now, he would certainly be proud of the man Mr Keyamo has become.

The Bible says “When the foundation is faulty, what can the righteous do?”. Mr Keyamo is now providing an answer to this age-long question as a faulty foundation needs to be destroyed and a new one laid. For efficient and effective service delivery, a new solid base is needed to accommodate the realities of today and the dreams for tomorrow in the country’s aviation industry and that’s exactly what the Honourable Minister is doing.

An outspoken man and a fierce lawyer, Mr Keyamo who served as the Minister of State in the Ministry of Labour and Employment under the immediate past administration, shocked his former colleagues in his speech during the valedictory session by President Mohammadu Buhari to thank his Ministers and those who served in his government. Taking to the microphone with great confidence, Mr Keyamo who was first appointed as Minister of State for Niger Delta Affairs before being redeployed said the position of Minister of State was unconstitutional.

He explained that it is difficult to rate the performances of Ministers of State since their prudence was shackled with that of the substantive Ministers as any original ideas developed have to pass through the table of another colleague in the cabinet before they can sail through for consideration by Council.

If Mr Keyamo had any regret as Minister of State or an unimplemented policy during his time playing second fiddle in the office, God answered his prayers through President Bola Tinubu and allowed him to showcase and distinguish himself as a top-notch administrator and policy expert and so far, he has not betrayed the trust nor abused the confidence of Mr. President.

The laudable plans by the Minister as contained in the statement by Mrs Orah to get concessionaires to build befitting offices for the Authority in Lagos and Abuja must be commended. Over time, estate developers and rent-seekers have continued to connive with agencies of the federal government to milk the public purse through inflated rent bills that under normal circumstances, are big enough to erect permanent structures of a high standard for those agencies.

The aviation sector in the country today can be said to be in safe hands with Mr. Keyamo as Minister because he has proven himself to be a team player, ready to listen and work with expert opinions while building capacity across the board. He has put everyone concerned with the safety of our airspace on their toes and strived to rid the industry of indolence. The relocation of the FAAN Corporate Headquarters to Abuja in the first case was intended to encourage highly trained personnel to roam about without an office or equipment to work with.

It would be recalled that barely one month to the expiration of the tenure of the last administration of President Mohammadu Buhari in May 2023, the then Minister of Aviation, Senator Hadi Sirika ordered the relocation of some aviation agencies from the Muritala Mohammed International Airport Lagos for their office buildings to be demolished and pave way for the construction of an acropolis. If the idea is a developmental step worthy of commendation, the right thing to do would have been to find another befitting structure to accommodate those agencies rendering critical services in the aviation industry within the city.

The proximity of these services to the Lagos airport which handles more than 50% of aviation passenger traffic in Nigeria daily should have been a thing to consider in relocating the agency. It was for this singular reason the Obasanjo administration relocated the Nigerian Shippers Council out of Abuja back to Lagos even after they had built a magnificent structure in the nation’s capital to accommodate their services.

The decision to demolish those structures and relocate the agencies to Abuja didn’t bode well with labour unions in the aviation sector and they embarked on an industrial strike to drive home their point. The Senate of the 9th Assembly quickly tried to intervene and ordered a stop to all activities pending a comprehensive investigation by its standing committee on aviation but a defiant Sirika, himself a former senator called a bluff of his colleagues and in a press conference after the Federal Executive Council Meeting on May 3, 2023, insisted that there was no going back and the demolition must continue.

Time and chance have now changed that. The building housing FAAN and other sister agencies in Lagos won’t be demolished immediately because there’s a new sheriff in town. Hopely, the design of the structures to house the proposed acropolis would also make provisions for agencies like FAAN to operate within, even if that would entail adding additional floors to what was originally proposed.

Mrs. Orah concluded by saying “The Honourable Minister is committed to making decisions that are in the best interest of the country, especially as it concerns public funds, and will not yield to ethnic or sectional sentiments that will derail this commitment”.

I can attest to this fact. This decision is in the best interest of Nigerians, and what Mr Keyamo needs is a pat on the back for a job well done.
We need many more Keyamos in places of authority. Those who are bold and fearless with clean hands and a clear conscience. That is the surest way to move Nigeria forward and achieve the renewed hope agenda of Mr. President and the APC.

Agada wrote this piece from Abuja. handles more than 50% of aviation passenger traffic in Nigeria daily should have been a thing to consider in relocating the agency. It was for this singular reason the Obasanjo administration relocated the Nigerian Shippers Council out of Abuja back to Lagos even after they had built a magnificent structure in the nation’s capital to accommodate their services.

The decision to demolish those structures and relocate the agencies to Abuja didn’t bode well with labour unions in the aviation sector and they embarked on an industrial strike to drive home their point. The Senate of the 9th Assembly quickly tried to intervene and ordered a stop to all activities pending a comprehensive investigation by its standing committee on aviation but a defiant Sirika, himself a former senator called a bluff of his colleagues and in a press conference after the Federal Executive Council Meeting on May 3, 2023, insisted that there was no going back and the demolition must continue.

Time and chance have now changed that. The building housing FAAN and other sister agencies in Lagos won’t be demolished immediately because there’s a new sheriff in town. Hopely, the design of the structures to house the proposed acropolis would also make provisions for agencies like FAAN to operate within, even if that would entail adding additional floors to what was originally proposed.

Mrs. Orah concluded by saying “The Honourable Minister is committed to making decisions that are in the best interest of the country, especially as it concerns public funds, and will not yield to ethnic or sectional sentiments that will derail this commitment”.

I can attest to this fact. This decision is in the best interest of Nigerians and what Mr Keyamo needs is a pat on the back for a job well done.
We need many more Keyamos in places of authority. Those who are bold and fearless with clean hands and a clear conscience. That is the surest way to move Nigeria forward and achieve the renewed hope agenda of Mr President and the APC.

Agada wrote this piece from Abuja.

Bank

Fidelity Bank grows gross earnings by 38% to N434.95b in Q1

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Fidelity Bank grows gross earnings by 38% to N434.95b in Q1

 

Fidelity Bank Plc recorded 37.9 per cent growth in gross earnings to N434.95 billion in first quarter 2026 as the international commercial bank continued to expand its core banking market share.

 

Interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter 20025 to N434.95 billion in first quarter 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.

 

With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-month period. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.

 

 

The balance sheet of the bank also emerged stronger. Total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion. Total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.

 

 

The first quarter 2026 results further consolidated the strong earnings outlook of the bank, which had successfully completed its recapitalisation amidst impressive earnings performance in 2025.
Fidelity Bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.

 

 

The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. Interest and similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes also rose by 44.7 per cent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.

 

 

The bank’s balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024. Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances meanwhile declined by 2.4 per cent to N4.28 trillion in 2025 as against N4.39 trillion in 2024, attributable to customers paying down on their mature obligations.

 

 

The bank had in 2025 strengthened its capital position, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy had remained robust, with Capital Adequacy Ratio of 30.94 per cent by December 2025 as against 23.47 per cent by December 2024.

 

Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the first quarter 2026 results reinforced the bank’s strong and resilient business model.

 

She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank has entered a new era of growth and impressive returns.

 

“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.

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Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU

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NLC Commends Dangote Refinery, Urges FG to Sell Adequate Crude in Naira to Reduce Fuel Prices

Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU

The operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is fundamentally reshaping Nigeria’s downstream oil sector, significantly reducing the country’s dependence on imported refined petroleum products and strengthening its external position, according to the Economist Intelligence Unit (EIU).

In its latest assessment on Nigeria’s fuel market and regulatory environment, the EIU said the refinery has already transformed a sector that was previously characterised by heavy reliance on imported fuel despite Nigeria being Africa’s largest crude oil producer. The report noted that the refinery met nearly 80 per cent of domestic petrol demand in April and produced enough volumes to satisfy local consumption requirements as operations approached full capacity.

The EIU described Nigeria’s downstream petroleum sector before the refinery as “long dysfunctional”, noting that the country had remained almost entirely dependent on costly imported fuel while producing nearly 1.5 million barrels of crude oil daily.

According to the report, the emergence of the refinery has reduced import dependence, improved domestic fuel availability and strengthened Nigeria’s balance of payments position through lower import demand and rising exports of refined petroleum products.

“The gradual ramp up of the 650,000 barrel/day Dangote refinery since May 2023 has transformed Nigeria’s long dysfunctional downstream sector,” the report stated. “The country’s main refineries, all state owned, had been inoperative for years and Nigeria was almost entirely reliant on costly imported fuel.”

The research and analysis division of The Economist Group, London added that the refinery’s attainment of full operational capacity and its planned expansion would further support Nigeria’s economic growth and foreign exchange earnings over the medium term.

“Meanwhile, the attainment of full capacity at, and an increase in exports from, the Dangote refinery will support real GDP growth and foreign exchange earnings in 2026 and 2027 and beyond, as a planned doubling of the plant’s output comes on stream around the end of the decade,” it added.

Industry analysts said the refinery is increasingly positioning Nigeria as an emerging refining and export hub, altering energy trade flows across Africa and reducing the vulnerability associated with fuel import dependence.

The EIU noted that the refinery’s expansion has coincided with major reforms in Nigeria’s downstream sector, including the removal of fuel subsidies and the introduction of market driven pricing mechanisms.

The report, however, said the transition from a state dominated fuel import structure to large scale domestic refining has triggered resistance from interests linked to the old import regime.

The latest tensions emerged following the decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to relax restrictions on petrol imports despite the refinery’s growing capacity to meet domestic demand.

Dangote Industries subsequently initiated legal action, arguing that continued import approvals undermine domestic refining investments and conflict with the objectives of the Petroleum Industry Act, which seeks to encourage local refining capacity and reduce import dependence.

Analysts noted that the availability of large-scale domestic refining capacity has improved Nigeria’s energy security and reduced exposure to external supply shocks and foreign exchange volatility.

The Centre for the Promotion of Private Enterprise also cautioned against unrestrained importation of petroleum products, warning that such a policy could weaken Nigeria’s industrialisation drive and discourage investments in domestic refining.

Chief Executive Officer of CPPE, Muda Yusuf, said continued dependence on imported fuel had historically contributed to pressure on foreign reserves, exchange rate instability and fiscal leakages.

The refinery’s growing impact is also being reflected in Nigeria’s broader macroeconomic indicators. Earlier this month, S&P Global Ratings cited increased domestic refining capacity and rising hydrocarbon exports among the major factors supporting Nigeria’s sovereign credit rating upgrade – the first in 14 years.

Beyond Nigeria, analysts said the refinery is increasingly being viewed as a strategic industrial asset for Africa, where many countries remain heavily dependent on imported fuel despite rising demand for transportation, manufacturing, and power generation.

 

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

 

In a landmark ruling on Friday, May 22, 2026, the Federal Capital Territory High Court in Abuja threw out a $19.6 million lawsuit filed by Alternate Dimensions Ventures Ltd against the Nigerian National Petroleum Company Limited (NNPCL), affirming a key legal principle: a written contract cannot be expanded through oral agreements or conduct.

Alternate Dimensions had sought $19,600,000 in professional fees, claiming the scope of its Direct Sale, Direct Purchase (DSDP e-pro) contract with NNPCL was orally expanded. Represented by counsel Patrick Peter, the firm argued it was entitled to the revised sum for services rendered under the alleged new terms.

But NNPCL, through its lawyer Ituah Imhanze of KENNA LP, pushed back sharply, arguing that parties are bound exclusively by the clear terms of their written agreement. Imhanze contended that without any written amendment, the claim was legally unsound, and the court agreed.

Delivering judgment, Justice Hamza Mu’azu upheld NNPCL’s defense, stating that the contract was unambiguous and that no evidence was adduced during the trial, which supported the alleged scope expansion. The court further found that NNPCL fully complied with all contractual terms and committed no breach.

Dismissing the suit as meritless, Justice Mu’azu reinforced the doctrine of sanctity of contract: any amendment to a written agreement must be express, unequivocal, and documented, not implied or verbal.

The ruling spares NNPCL from the S19.6 million claim and also a floodgate of similar potential liabilities.

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