Business
Aviation Sector Rebounds As Airlines, Others Net N146.6bn In Nine Months

Between January and September last year, output in the aviation sector rose to N146.6 billion, from N114.2 billion recorded in the corresponding period of 2020.
This shows an increase of N32.2bn in the sector’s contribution to the country’s Gross Domestic Product (GDP) during the period under review.
According to the National Bureau of Statistics (NBS), aviation or air transport is one of the sub-sectors under the transport and storage sector.
Road transport, rail transport, water transport, transport services and post and courier services are the remaining five.
During the period under review, the contribution of the transport and storage sector to the GDP stood at N2.4tn which was driven by the economic performance of road transportation (N2.2tn), air transport (N146.6bn) and transport services (N62.4bn).
In the second quarter of 2021, the aviation sector’s output rose to N53.8bn from N51.3bn recorded in Q1 2020 and in Q2, the sector’s contribution to the GDP stood at N26.5bn, higher than the N21.3bn recorded in the corresponding period of the previous year.
The transport and storage sector grew by 41.61 per cent, year on year, in nominal terms in Q3.
This rate was relatively higher than the figure of -35.06 per cent recorded in the corresponding quarter of 2020 but lower than the 112.56 per cent in the previous quarter.
However, all the six sub-activities under transport and storage industry recorded positive growth rates in the third quarter 2021.
In Q3, transport activities contributed 1.57 per cent to nominal GDP, an increase from the 1.28 per cent recorded in the corresponding period of 2020, but lower than 2.09 per cent recorded in Q2.
In real terms, the sector grew by 20.61 per cent in Q3 2021, which represents an increase of 63.59 per cent relative to the same quarter of the previous year and a decrease of 56.20 per cent relative to the preceding quarter.
The contribution of the sector to real GDP in the Q3 2021 totaled 0.20 per cent, a rise from 0.18 per cent recorded in the previous year, and higher than the 0.13 per cent recorded in the Q2.
Meanwhile, the contribution of air transport to the GDP in Q3 surged to N66.3bn from N41.8bn recorded in Q3 2020.
Speaking on the development, an economist and a professor of Economics at the Olabisi Onabanjo University, Sheriffdeen Tella, attributed the recovery in the sector to the removal of travel restrictions that hindered air travel in the previous year.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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