Business

We remain steadfast in creating investment opportunities, no going back- Tinubu

President Bola Tinubu says his administration remains steadfast in implementing necessary economic reforms to facilitate business growth and create investment opportunities that support Nigeria’s growing population.

Receiving a delegation from the Corporate Council on Africa (CCA) led by Florizelle Liser, CCA’s President and Chief Executive Officer, in Abuja, on Thursday, President Tinubu reiterated his unwavering commitment to Nigeria’s economic growth and stability, emphasizing that he is not relenting until his vision for Nigeria is achieved.

The President commended the recent landing of a 45,000-kilometre submarine fibre optic cable in Akwa Ibom State, which establishes connectivity for the entire South-South region of Nigeria with Europe, and other parts of Africa via the Atlantic Ocean.

Highlighting the significance of this accomplishment, the President noted that with the right policies, partnerships, and determination, Nigeria can overcome long-standing developmental challenges that have encumbered rapid progress across sectors.

Drawing on his extensive experience in corporate governance and interactions with CCA during his tenure as the two-term governor of Lagos State, President Tinubu expressed satisfaction with the Corporate Council’s dedication to fostering business connections between the United States of America and Africa.

”I am happy that the Council is interested in various segments of Nigeria’s economy. We are right in the middle of a challenging stage of our reforms. We have headwinds, no doubt, but we are not going back.

”We are challenged, and we believe we will overcome the challenges. I have a can-do attitude that must be translated into a must-do attitude. We have a good team, and we must remain focused to get the goal accomplished,” he said.

President Tinubu reaffirmed his commitment to creating an enabling environment for business to thrive, emphasizing that his administration’s focus on investing in key sectors, such as agriculture, solid minerals, energy, health, physical infrastructure, trade promotion, financial services, digital enterprise, and the creative economy is underpinned by the need to ensure the welfare and prosperity of citizens.

”We are going to do more on security and investing in education, as we believe that education is the greatest weapon against poverty. We welcome partners like CCA, and we will strengthen our partnership to achieve our goals,” he said.

In her remarks, Ms. Liser expressed CCA’s commitment to supporting Nigeria’s economic growth through the eight priority areas outlined by President Tinubu’s administration.

She invited President Tinubu to consider participating in CCA’s US-Africa Business Summit in May in Dallas, Texas, and urged him to consider CCA as a partner in enhancing USA-Nigeria trade, business, and investment.

Business

MTN under attack as hackers breach network

MTN Nigeria on Friday, April 25, confirmed that it was recently targeted in a cyber attack but has moved to calm concerns, assuring customers, partners, and stakeholders that its key systems and customer data were not compromised.

The telecoms giant in a statement released on Thursday, April 24, revealed that it had detected unauthorized activity within its network, and had acted swiftly to isolate and neutralize the threat.

The Chief Executive Officer of MTN Nigeria, Karl Toriola disclosed that the attackers had sough to disrupt operation, but their attempts were unsuccessful.

He emphasized that the incident did not affect Nigeria specifically, and critical infrastructure, including customer information and core business functions, remained secure.

“We take cybersecurity very seriously and have robust systems in place to detect, isolate, and neutralize threats. Although this attack attempted to breach our defenses, our security protocols worked as intended, and our core infrastructure remains secure,” Toriola stated.

The telecom giants did not however reveal the nature or origin of the cyberattack on its systems, cybersecurity analysts warn that telecom companies across Africa are becoming prime targets for cybercriminals. This growing threat is linked to the sector’s vast subscriber base and the continent’s rapidly expanding digital economy.

An internal source within MTN confirmed that the breach did not affect operations in Nigeria, reinforcing the company’s earlier statement that local infrastructure and services remain intact.

The attack comes at a time when Nigeria is accelerating its digital transformation agenda, an ambitious effort that places increased responsibility on service providers to strengthen their cybersecurity protocols.

MTN has pledged to work closely with cybersecurity experts and government authorities to conduct a thorough investigation of the incident. The company also affirmed its commitment to bolstering its systems and defenses to prevent future breaches and safeguard customer trust.

Business

Air Peace to resume flight operations nationwide

Lagos to Abuja now costs N100,000 as operators list challenges

Air Peace has said that it will resume flight operations on Friday following suspension of strike by the Nigerian Meteorological Agency (NiMET) workers.

The airline’s Head of Corporate Communications, Dr Ejike Ndiulo, made the disclosure in a statement on Thursday night in Lagos.

According to Ndiulo, Air Peace is grateful to its customers and the general public for patience, understanding and support throughout the period of the strike.

”Your resilience and trust in our brand mean the world to us

“We commend the active and decisive intervention of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo (SAN), whose leadership and commitment were pivotal in resolving the impasse and restoring normalcy within the aviation industry,” Ndiulo said.

He noted the minister’s swift engagement with aviation stakeholders, his transparent approach and his dedication to the stability and progress of the aviation sector.

According to him, Keyamo’s efforts not only facilitated timely resolution of the industrial dispute but also underscored his broader vision for a safer, more efficient and investor-friendly Nigerian aviation industry.

Ndiulo reaffirmed Air Peace’s commitment to providing safe, reliable and world-class services.

NAN reports that NIMET workers on Thursday shelved the strike which began on April 22 following Keyamo’s intervention.

The workers downed tools in protest of alleged poor working conditions, including non-implementation of the 2019 Consequential Adjustment to the National Minimum Wage (affecting at least 30 staff).

They are also demanding a 25/35 per cent salary increase, 40 per cent hardship/peculiar allowance, and annual staff trainings.

Keyamo had promised to find lasting solutions to the problems.

Business

BREAKING: Air Peace suspends flight operations nationwide

Air Peace Ltd. has announced the suspension of all flight operations nationwide due to the ongoing strike embarked upon by the Nigerian Meteorological Agency (NiMET).

This is contained in a statement signed by the Head of Corporate Communications, Air Peace, Dr Ejike Ndiulo, on Wednesday in Lagos.

According to Ndiulo, the decision is necessary because NiMet is the agency responsible for issuing CNH (Current Nowcast of Hazardous Weather) reports, critical for safe landings, especially during this season of heavy rainfall and thunderstorms.

He said without these reports from the control tower, flight safety could not be guaranteed.

“As a safety-first airline, we have chosen to act responsibly by suspending operations until NiMet resumes full service.

“We understand this may cause inconvenience, and we sincerely apologise. Passengers will be contacted with updates and options for rescheduling,” he said.

The staff of NiMET on Tuesday commenced an indefinite strike over the condition of service and other demands.