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    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

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    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

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    Manufacture of petroleum products push PPI to 31.2% in April

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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Nigeria: Air Crashes Imminent in Nigeria, Senate Warns

bycitibusinessnews
October 21, 2016
in Africa, West Africa
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The Senate on Thursday warned of imminent plane crashes in the country if the aviation industry was not fixed immediately.

The alert followed a motion tagged “Disturbing Development in the Nigerian Aviation Industry” by Dino Melaye.

Contributing to the motion, the Minority Leader, Godswill Akpabio, said the fear of plane crashes was real as airlines could no longer access foreign exchange to service their aircraft.

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He said some operators may resort to cutting corners as a result of their inability to access foreign exchange, thereby endangering the lives of air travellers.

Mr. Akpabio said many airlines in the country were bankrupt “and dead”.

“These problems are caused by policies of government. Monetary policies of government have not allowed the airlines to operate.

“Section 14(2) of the 1999 Constitution as amended says that government must ensure the security and welfare of the people.

“We are likely to have a spectre of crashes because most airlines cannot access foreign exchange to service their aircrafts,” he said.

Deputy President of the Senate, Ike Ekweremadu, who presided, said that the withdrawal of airlines from Nigeria’s aviation industry was a bad omen which may lead to massive job losses.

“A situation whereby airlines cannot send back their money to their home countries is a disaster. Competition becomes less and the few left will charge as they want.

“It is embarrassing that airlines have to go and refuel in Ghana,” he said.

After the debate, the senate resolved to assist the Federal Government in its planned intervention in the current challenges in aviation sector.

The Senate also urged the government to ensure that all operators who would benefit from the intervention would not increase fares arbitrarily.

The lawmakers urged the Federal Government to prevail and insist that airlines used the Naira as the official currency in all transactions in the industry.

–

Credit: All Africa

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