Economy
Tinubu Working To Eliminate Multiple Taxation In Aviation Sector, Says Keyamo
Tinubu Working To Eliminate Multiple Taxation In Aviation Sector, Says Keyamo
Tinubu working to eliminate multiple taxation in aviation sector, says Keyamo. Festus Keyamo, the minister of aviation and aerospace development, says the federal government is working to eliminate multiple taxation in the aviation sector. Speaking on Arise News Night on Tuesday, Keyamo said a committee is working on the process.
The minister noted that President Bola Tinubu is “big on addressing the issue”, saying a solution would be implemented soon. Keyamo said the problem existed before the current administration, adding that while he is working to address issues in the aviation sector, tax-related matters are referred to the minister of finance.
In addition to multiple taxation, the lack of capacity of private operators is another factor affecting prices, he said. “The lack of capacity was also leading to shortage of aircrafts,” Keyamo said.
“Not only shortage of aircraft, even if they have access to aircraft, you have old aircraft coming to the country. I’m sure you see many Nigerians complain about the type of aircraft that they enter into the country.
“Let me explain that to Nigerians: the reason that was happening is that the world lacked confidence in the Nigerian judicial system and the aviation system. They felt that if they brought their equipment here, their equipment were not safe enough.
“In the past, Nigerians were used to taking these aircraft, bringing them to Nigeria, and then it was difficult for these leasers to take their aircraft back. All the aircraft you see flying in Nigeria, perhaps only two percent are fully owned, [while] 98 percent of them are leased.
“We have repeated this 100 times on this show, that the biggest airlines in the world do not own aircraft. It’s difficult; they lease their aircraft, so Nigeria is not an exception.
“But for you to now have access to the best aircraft in the world, like for example, the new ones they’re just bringing out, or the ones are not too old, these are seen as very expensive. They will take it to a place, a jurisdiction, where they have confidence that if there’s a default, they can easily get their aircraft out.
“If they don’t have too much confidence in your system, you will see these old aircraft. So we’re not in the top tier in terms of access to such.
“We are now number one in Africa. Before, we were 49 point, because these leasers and financiers follow what they call the rating of countries. You are rated by the Aviation Working Group in terms of your credibility and access, ease of doing business in your country by foreign investors [and] financiers.”
‘NIGERIA NOW BEST IN AFRICA FOR AIRCRAFT LEASE’
Keyamo said Nigeria has become the best country in Africa for aircraft leasing, acknowleding the efforts of the administration in improving the country’s aviation ecosystem.
“Before we came to office, before President Bola came to office, we were 49.5 percent officially,” he said.
“When we came to office and we attacked these problems by the practice direction of the Cape Town Convention that we signed, and of course on the Irrevocable De-registration and Export Request Authorization, they call it IDERA, we moved up to 75.5 percent, which is officially the highest in Africa.
Festus Keyamo
“In fact, our jurisdiction is the best in Africa now in terms of aircraft leasing and all of that. We would have started seeing the results as in yesterday, but all over the world, there’s a shortage of aircraft because the manufacturers have too much orders on the line.”
The minister said the emergence of Comac, China’s equivalent of Boeing and Airbus, will shake up the industry, noting that significant changes in aircraft availability are expected soon.
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.
Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.
EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.
Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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