Fidelity Bank Commends Air Peace’s Performance

. Celebrates Airline For The Commencement of the Lagos-London Route

LAGOS – Fidelity Bank Plc has commended Air Peace’s performance since it commenced flight operations about 10 years ago.

Dr. Nneka Onyeali-Ikpe, the Managing Director, Fidelity Bank Plc gave the commendation over the weekend in Lagos during a special event organised for the airline by the bank to celebrate Air Peace for the milestone of commencement of direct flights from Lagos to London.

According to Nneka Onyeali-Ikpe, who doubled as the host at the event, the airline has upheld the principles of financial discipline and good corporate governance since inception, while it has also been very loyal to the bank.

She expressed delight that the bank had the airline as one of its major clients since inception, stressing that the Bank was celebrating the airline’s milestone of launching direct flight service to London and other developments it would attain in the future.

The event, which held at the Civic Center, Victoria Island, Lagos, had in attendance several bank Managing Directors, stakeholders in the aviation sector, media personalities and well-wishers of both brands.

Speaking at the event, an elated Dr. Allen Onyema, the Chairman, Air Peace, observed that it was not rosy for the airline to attain its status and expressed gratitude to the flying public, the various aviation stakeholders, the media and the government for the continued support since it launched in 2014.

He specifically acknowledged the pivotal role played by Engr. Ben Adeyileka, the former Acting Director-General, Nigeria Civil Aviation Authority (NCAA), in helping the airline secure its Airline Operator Certificate (AOC).

He further commended Fidelity Bank for the consistent support and stressed that the bank had contributed to the success story of the airline.

“I call it our journey with Fidelity Bank. I did not envisage this day would come when an indigenous institution would be celebrating another indigenous institution. Fidelity supports real business. They keep removing people from the streets of poverty. Let other banks emulate Fidelity,” he said.

He reiterated that Air Peace was set up primarily to create employment, not for profitmaking, stressing that the motivation behind the business was to empower Nigerians economically.

“Air Peace was not borne out of the intent to profiteer, but to create jobs. Air Peace was not established because I wanted more money but because of the conviction that running an airline would create massive job opportunities. That was why we went into aviation”, he remarked.

He restated the airline’s belief in the Nigerian project, maintaining that supporting the airline meant supporting the growth of the Nigerian economy.

Onyema further craved for the support of all Nigerians on the Lagos-London route, which it opened on March 30, 2024.

He explained that the airline needed to sustain the route, stressing that this could only be done through support from Nigerians.

He said: “For every penny you pay to Air Peace, you pay to sustain the jobs of thousands of Nigerians and support economic growth.

“Air Peace flies you from any of our domestic routes to London. So, you can fly from Yola to London via Lagos. From the local airport, you are taken to the international airport free of charge with a seamless luggage transfer.”

He pledged that the airline would continue to fully adhere to the standard of safety and lauded the management and staff of Air Peace for their efforts in realising the London dream.

Dangote Group is the elixir of Gateway int’l Trade Fair – OGUNCCIMA

…Subsidiaries hit Ogun trade fair

Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has described the Dangote Group as the driving force of the Gateway International Trade Fair.

This is just as companies under the leading African Indigenous Conglomerate, Dangote Industries Limited, hit the trade fair with their various products as part of strategies to increase market share and deepen customers’ affection.

The President of the chamber, Engr. Mike Akingbade, stated this when Ogun state governor, Dapo Abiodun officially opened the 13th edition of the Trade Fair at the M.K.O Abiola Trade Fair Complex, Oke Mosan, Abeokuta

Akingbade lauded the support of Dangote Group in sustaining the Trade Fair, which he noted has led to the prosperity of the state and economic freedom for the people.

“A special commendation must be given to Dangote Industries Limited which has remained the major sponsor of the Gateway International Trade Fair for many years. The committed support of the Dangote Group is the elixir with which the trade fair is activated and OGUNCCINA is eternally grateful for the wonderful gesture of the company,” he said.

He said the 13th Gateway International Trade Fair with the theme: “Achieving Economic Prosperity through Business Connection, Trade and Investment, “is aimed among others, to allow businesses to expand their reach, access new markets, and diversify their customer base. He emphasized that forging robust business connections, participating in trade activities, and making strategic investments will unlock new markets, stimulate economic growth, and enhance overall prosperity.

The Regional Sales Director, Dangote Cement PLC, Lagos/Ogun, Mr Tunde Mabogunje in his goodwill address, assured Ogun state government and OGUNCIMMA of the continuous support of the company, noting that the Group is dedicated to enhancing the prosperity of Nigeria by creating opportunities for Nigerians and businesses in the country.

Mabogunje said visitors to the Dangote Group’s pavilion at the fair will have the opportunity of buying products of these companies at reasonably reduced prices as the Dangote businesses will be selling at discounted prices.

He also hinted that the Dangote Refinery will be part of the next edition of the Trade Fair.

“We want to appreciate Ogun state for bringing us as a partner. We want to assure you that we will be here next year bigger. By next year, our refinery will be part of the Trade Fair,” he said.

Governor Dapo Abiodun who visited the Dangote pavilion immediately after performing the ribbon-cutting ceremony, commended the company and others for supporting the Trade Fair which he noted is aimed at stimulating economic growth.

Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment

… as FG endorses consolidated guidelines

Sahara Weekly Reports That Today, in a move to further revitalise the oil and gas industry’s contribution to the Nigerian Economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony at the Federal Ministry of Finance headquarters in Abuja endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a cornerstone of the Presidential Directive aimed at enhancing the Nigerian oil & gas sector’s global competitiveness whilst stimulating economic growth.

As disclosed during the signing, the Presidential Directives were developed and coordinated by the Special Adviser to the President on Energy, Mrs. Olu Verheijen to ensure a competitive framework for the Nigerian oil & gas industry. These Consolidated guidelines for the fiscal incentives are based on extensive collaboration across Finance and Petroleum Ministries and involved several key regulatory bodies including the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

According to Mrs. Verheijen, these new measures have been designed to deliver a competitive Internal Rate of Return (IRR) for Oil & Gas Projects and attract over $10 billion in new investments within the next 12-18 months. They also underscore Nigeria’s commitment to reaching its long term oil production target of 4 million barrels per day whilst enhancing the reliability of gas supply for to boost export earnings and fuel Nigeria’s industrialization.

Mrs. Verheijen disclosed that among the guidelines signed were the NUPRC Guideline on Hydrocarbon Liquids Content in a Non-Associated Gas (NAG) Field, essential for accurately categorising and quantifying the hydrocarbon liquid content in these fields. Additional guidelines focused on the applicability of tax credits and allowances for Non-Associated Gas Greenfield Development and the Midstream Capital and Gas Utilization Allowance, providing taxpayers with clarity on the computation of these benefits.

HM Edun, in his remarks, thanked President Bola Ahmed Tinubu for signing the directive in February 2024 to engender growth in the Nigerian oil and gas sector, which had stagnated for over the last decade. He also emphasised the potential of the guidelines, saying, “The idea is to create an atmosphere conducive to international competitiveness such that investment comes in. And in this case, we know it’s foreign direct investment”.

The signing ceremony was attended by various stakeholders, including NNPC Limited, Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG), further highlighting Nigeria’s unified approach toward reinvigorating its oil and gas sector.