Business
Airlines Need SixAircrafts To Operate – NCAA
Director-General, Nigeria Civil Aviation Authority (NCAA), Musa Nuhu, has said airlines must have strong financial capacity and a minimum of six aircraft to be allowed to operate in the country.
Speaking during a virtual meeting with aviation correspondents, weekend, Nuhu said the major problems facing domestic airline operation is lack of capacity to overcome challenges.
He said the new policy is not only for new startups, but also for existing operators, adding that the operators have been given a deadline to comply with the policy.
Prior to this time, domestic airline operators were required to have at least three airworthy aircrafts before commencing operation.
“The problem is that a lot of the airlines don’t even have the capacity to meet current financial obligations.
“If you have three aircrafts, for instance, and you lose one out of it, it has become a problem to meet up with your operations. Then, you start to have issues of flight delays, cancellations and all that.
“The number of aircrafts you will have will depend on the kind of operations you want to do. You can imagine somebody who comes in with just one or two aircraft and one of the aircraft goes out of business, and sells tickets to the passengers, thinking of what will happen.
“For you to have six aircrafts, it shows you have a very strong financial background of running an airline.
“It is not only for new entrants, but the old ones too have a period by which they have to comply. If everybody has one or two aircraft, we will keep having this recurring problem. We have to avoid that.
“People will criticise, but every country is different. We have to look at our own peculiar history and try to come up with solutions, but regulations are not cast in stone.
“If the situation changes, the regulation would be reviewed accordingly. Whenever it is necessary, we don’t have to wait for five years before we make amendments”, Nuhu stated.
He further said Nigeria has many airlines but only a few of them are operating with an insufficient number of aircraft.
The NCAA boss continued that any airline that could afford to acquire six aircrafts has the financial capacity to operate scheduled service.
He added that with such capacity, it would not go under after a few years, while still having its name in the NCAA registry.
“There are more aircraft in Nigeria’s registry than in the entire West Africa. The number of airlines, air operator certificate (AOC), airports and co. they do not have as much as we have in Nigeria. It is very huge, complex, and there are huge demands to cope with in the industry.
“From records, about 12 years ago, we had only 16 AOCs, right now we have 32, out of which 12 are scheduled operators.
“We cannot keep operating the way we are operating. Changes have to come in and we have started the process.
”We are acquiring a regulatory software and in the next one or two weeks, we are going to be ready with the software and training of our staff is going to start on the use of the software.
“We are going to make sure that 80 per cent to 90 per cent of NCAA processes are automated and also third parties are going to be automated”, Nuhu concluded.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter
