Nigeria s Aviation Sector Reform: Towards Smoother, Safer Air Travel thenews-chronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews-chronicle.com Daily Mail and Mail on Sunday newspapers.
The Minister of Aviation, Hadi Sirika, has explained why the federal government designated Lagos, Kano, Abuja and Port Harcourt as Special Economic Zones, saying that it would harness the socio-economic benefits derivable from Civil Aviation, generating revenues for the government, attract more international and domestic airlines as well as other benefits.
The Minister disclosed this in a statement on Wednesday afternoon, following the approval of the SEZs by President Muhammadu Buhari.
What the Minister said
“The Ministry of Aviation in its desire to address issues concerning taxation, custom duties and fiscal issues in the Nigerian Aviation industry which required a holistic solution, had requested the Nigerian Export Processing Zone Authority (NEPZA) to designate the four major international Airports under NEPZA Act.
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The Minister of Aviation, Capt. Hadi Sirika, made this disclosure in a statement issued by Mr James Odaudu, the Director, Public Affairs, Ministry of Aviation, in Abuja on Wednesday.
The minister said that the four airports comprised the Murtala Muhammad International Airport, Lagos, the Nnamdi Azikiwe International Airport, Abuja, the Port-Harcourt international Airport, and the Mallam Aminu Kano International Airport.
According to him, the announcement followed the approval granted by President Muhammadu Buhari to that effect.
He said that there were many inherent benefits of the designation and operation of the airports as special economic zones.
“The Ministry of Aviation in its desire to address issues concerning taxation, customs duties and fiscal issues in the Nigerian Aviation industry which required a holistic solution, had requested the Nigerian Export Processing Zone Authority (NEPZA) to designate the four major international Air
Captain Musa Nuhu is the Director-General of the Nigerian Civil Aviation Authority (NCAA). In this interview, he outlined the attraction of the Nigerian Aviation sector to investors, how the sector can tackle forex scarcity and updates on Azman Airline’s operations.
Excerpts:
Contrary to what is happening in other climes, more airlines have been flying in Nigeria in the last four months. How would you assess the Aviation sector?
There is a huge market here. The Nigerian market is not mature enough. There is a huge opportunity for the Nigerian market to grow.
That is why you see that many airlines are coming up in the country. We have Green Africa Airways, NG Eagle and so many other airlines coming up. I am sure that Green Africa Airways, NG Eagle are the next to fly. The market is there. It is economics.
As technology evolves, customer demands continue to affect how businesses operate especially in the banking sector. In recent times, fintech startups have raised the bar, offering customers easier, faster, and cheaper financial services particularly in areas such as zero transfer fees, more attractive interest rates on savings, full online banking experience, speed and simplicity.
These competitive advantages are endearing them to an increasing number of customers and strengthening their position in the industry.
In this article, we examine some fintechs currently offering free banking services.
Aladdin
Aladdin Finance App is powered by PurpleMoney Microfinance Bank. The app offers its customers zero charges on transfers and transactions with other banks. Traditional banks charge N25 per transfer, but Aladdin bears the transfer cost and offers the service for free.