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South African Airways further strengthens its West African network, introduces Abuja

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Second entry point in Nigeria offers business travellers more options

JOHANNESBURG. 14 October 2015. South African Airways (SAA), the leading carrier in the Sub-Saharan Africa region, has introduced a second entry point to Nigeria in its quest to enable trade and unlock mobility, which will considerably add to business travel options in the West African region.

Adding a second gateway in Nigeria to SAA’s existing daily service to Lagosmaterially strengthens SAA’s position in West Africa where it plays a significant role in enabling the movement of goods and people between Southern Africa and West Africa thereby enhancing the growing trade and cultural exchanges between these two regions.  

The addition of Abuja to SAA’s network follows closely on the successful introduction of the Accra, Ghana to Washington Dulles, USA route, as a West African platform in August 2015. SAA launched flights between Accra, Ghana and Washington DC in North America, in cooperation with Africa World Airways. The introduction of the Accra to Washington route has seen a steady growth in the number of passengers using this route and has performed in line with expectations. This has provided SAA with the confidence to invest further and enhance its footprint in West Africa.

“A second entry point in Nigeria forms part of our Long-Term Turnaround Strategy, which identified growth on the African continent as one of its key objectives. Nigeria is one of the fastest growing air travel markets in Sub-Saharan Africa and will be well served with our additional services to Abuja.

“Introducing Abuja as a second entry point in Nigeria will add more travel options, especially for the business community, and will enhance our footprint on the continent,” says Sylvain Bosc, SAA Chief Commercial Officer.

“Enhancing air travel links with Nigeria speaks to the growth in bilateral relations between South Africa and Nigeria. The two countries historically have had strong economic, diplomatic, social and fraternal ties. These are the two economic powerhouses of Africa, with much more to offer and share,” says Aaron Munetsi, SAA Regional General Manager for Africa.

Abuja flights have been scheduled for seamless connectivity into SAA’s inter-continental route network to destinations such as Perth, Hong Kong and Sao Paulo. These connections will make it easy for regional traders, leisure travellers, travellers visiting friends and relatives, diplomatic communities, and international organisations from the northern and central parts of Nigeria to seamlessly connect through O.R Tambo International airport onwards to the airline’s inter-continental and regional route network.

Abuja, built in the 1980s, became Nigeria’s capital in December 1991, and is known for being one of the few purpose-built capital cities in Africa. Located in the centre of Nigeria, within the Federal Capital Territory (FCT), it is the Nigerian seat of government where the Presidency, National Assembly, Supreme Court, and Embassies of most countries are situated. A business city housing many government employees, Abuja has also become popular for the serene and beautiful landscape it offers.

With Abuja, SAA will be serving eleven destinations in Central and West Africa, with flights from its Johannesburg hub to Lagos (Nigeria); Abidjan (Ivory Coast); Cotonou (Benin); Accra (Ghana); Douala (Cameroon), Dakar (Senegal), Libreville (Gabon), Kinshasa (DRC), Pointe Noire and Brazzaville (Republic of the Congo).

already forming part of the extensive regional route network.

The three weekly flights will operate non-stop between Johannesburg and the Nnamdi Azikiwe International Airport inAbuja aboard modern Airbus 330-200s, offering SAA Business class comfort and luxury, with the latest in In-flight entertainment.

The first flight is scheduled to depart O.R Tambo International Airport on 26 January 2016. Flights are open for sale on all SAA’s distribution channels.

Abuja flight schedule:

 

 

 

 

Flight

Days of the week

Depart Johannesburg

Arrive Abuja

SA088

Tuesdays, Fridays, and Sundays

23h00

04h10 the following day

Depart Abuja

Arrive Johannesburg

SA089

Mondays, Wednesdays and Saturdays

08h45

15h40

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Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

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Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

In a bid to ease financial burdens during the holiday season, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) to N899.50 per litre. This follows a previous price cut to N970 per litre on November 24. The move is aimed at reducing transportation costs for Nigerians as they prepare for festive celebrations.

Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, disclosed the development in a statement, highlighting additional benefits for consumers. Beyond the price reduction, the refinery is introducing a special credit offer. For every litre of PMS purchased on a cash basis, consumers can buy an additional litre on credit, supported by a bank guarantee from Access Bank, First Bank, or Zenith Bank.

“To help reduce transport expenses this holiday season, we’re offering PMS at N899.50 per litre and providing a credit option for additional purchases. This is part of our commitment to making high-quality petroleum products accessible to Nigerians,” Chiejina said.

The refinery also reaffirmed its commitment to providing premium-quality, environmentally-friendly fuel, while ending Nigeria’s dependence on substandard imported products.

With a capacity of 650,000 barrels per day, the Dangote Refinery is the largest single-train refinery in the world, capable of meeting Nigeria’s entire refined petroleum product demand and generating surplus for export. As the festive season approaches, the company expressed gratitude to Nigerians for their support and pledged continued efforts to ease their economic burdens.

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Setting the Record Straight: Clarifying NNPCL’s Role in the Dangote Refinery Investment

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General Buratai Urges Dangote Not To Succumb To Marketers Blackmail, Reveals Why

Setting the Record Straight: Clarifying NNPCL’s Role in the Dangote Refinery Investment

We have received numerous inquiries from the media and concerned stakeholders seeking clarification regarding a recent report attributed to the Nigerian National Petroleum Company Limited (NNPCL). The report suggested that NNPCL’s decision to secure a $1 billion loan backed by its crude was instrumental in supporting the Dangote Refinery during liquidity challenges.

Setting the Record Straight: Clarifying NNPCL's Role in the Dangote Refinery Investment

We wish to categorically state that this narrative is a misrepresentation of the facts. The $1 billion referenced constitutes just about 5% of the total investment in building the Dangote Refinery.

Our partnership with NNPCL was established based on their strategic importance as the largest offtaker of Nigerian crude and, at the time, the sole supplier of gasoline into Nigeria. As part of this agreement, a 20% stake in the refinery was valued at $2.76 billion. Of this amount, NNPCL agreed to pay $1 billion upfront, while the remaining balance was structured to be recovered over five years through crude oil supply deductions and dividends.

If we had been facing liquidity challenges, such generous credit terms would not have been feasible. At the time of the agreement in 2021, the refinery was still in its pre-commissioning phase. Any claims suggesting financial struggles are inconsistent with the structure and nature of this agreement.

Regrettably, NNPCL was unable to meet its commitment to supply the agreed 300,000 barrels per day of crude oil due to pre-existing financial commitments tied to their crude cargoes. Given this, we extended a 12-month period for NNPCL to pay cash for the balance of their equity. However, they were unable to meet the deadline, which expired on June 30, 2024. Consequently, NNPCL’s equity stake in the refinery was adjusted to 7.24%.

It is therefore inaccurate to claim that NNPCL facilitated a $1 billion investment amid liquidity challenges. Their $1 billion investment secured a 7.24% ownership stake in the Dangote Refinery, a strategic partnership beneficial to their interests.

NNPCL remains a valued partner, and we urge all stakeholders to adhere to the facts and provide accurate information to ensure proper media representation for the benefit of all stakeholders and the public.

Anthony Chiejina
Group Chief Branding and Communications Officer
18th December, 2024

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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

 

MTN Nigeria, the nation’s largest telecom company, pays over N200 billion in Value Added Tax (VAT) monthly, making it the single biggest contributor to the country’s VAT revenue, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee.

Speaking at Channels Television’s Town Hall on Tax Reforms, Oyedele highlighted significant disparities in the current VAT allocation system, revealing that all VAT paid by MTN is credited solely to Lagos State, where the company’s headquarters is located, despite the fact that services generating this revenue are consumed nationwide.

“MTN is the largest contributor to VAT in Nigeria,” Oyedele stated. “They pay over N200bn every month, and the gap between them and the second-largest contributor is massive. However, all this VAT is currently allocated to Lagos, even as calls are made across states like Kano, the FCT, Ekiti, Edo, and Kebbi.”

As part of the ongoing tax reform efforts, the committee has proposed a new framework to ensure equitable distribution of VAT revenues based on consumption rather than the corporate headquarters’ location.

Under the proposed redistribution model, Lagos State, which now retains the full N200bn from MTN, would see its share reduced to around 20 per cent. The remaining revenue would be distributed more fairly among other states where the services are consumed.

“This adjustment ensures states where VAT is generated get their fair share,” Oyedele explained. “While Lagos State’s share decreases slightly, every other state stands to gain under the new system.”

The tax reform bill, designed to address inefficiencies and promote fairness in Nigeria’s fiscal policies, has sparked debate among stakeholders. Critics have accused the committee of advancing policies that may negatively impact certain regions.

Oyedele, however, dismissed these claims, arguing that the current system is flawed and in need of urgent correction. “If something is being done wrongly, how can Lagos State or anyone oppose reforms aimed at fixing it?” he questioned.

The proposed reforms, which include provisions for revenue redistribution and efficiency improvements, are seen as pivotal to ensuring fairness and sustainability in Nigeria’s tax system.

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