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Allen Onyema Warns Nigerian Airlines Could Collapse in Three Months if New Tax Reform Laws Are Implemented

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Allen Onyema Warns Nigerian Airlines Could Collapse in Three Months if New Tax Reform Laws Are Implemented

Allen Onyema, Chief Executive Officer of Air Peace, has sounded a stark warning that Nigeria’s airline industry could face collapse within three months if the recently passed tax reform laws are fully implemented. Onyema said the new regulations have reintroduced charges that were removed under the 2020 tax framework, raising serious concerns about the financial viability of domestic carriers.

 

In an interview with Arise News on Sunday, Onyema detailed that the taxes would include customs duties on imported aircraft, engines, and aircraft parts, alongside Value Added Tax (VAT) on passenger tickets. According to him, these levies would impose significant additional costs on airlines already operating under tight margins, threatening the sustainability of operations and potentially leading to widespread service disruptions.

 

Onyema emphasized that the reintroduction of these taxes undermines previous government efforts to support the aviation sector, which has been struggling to recover from the economic impact of the COVID-19 pandemic and rising operational costs. He warned that if these fiscal measures are applied without adjustments or exemptions for the industry, many airlines could be forced to reduce flights, increase ticket prices, or, in the worst-case scenario, shut down entirely.

 

The Air Peace CEO called for urgent engagement between the government and industry stakeholders to review the tax provisions and explore alternatives that would protect both the sector and passengers. He stressed that sustaining a viable airline industry is critical not only for domestic travel but also for international connectivity, economic growth, and job preservation in Nigeria.

 

Onyema’s comments have reignited discussions about the balance between revenue generation and the economic realities of the aviation industry, highlighting the need for tax policies that consider the unique challenges faced by airlines while supporting national development objectives.

NNPC Completes Main Line of Ajaokuta-Kano-Kaduna Gas Pipeline, Says CEO Ojulari

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NNPC Completes Main Line of Ajaokuta-Kano-Kaduna Gas Pipeline, Says CEO Ojulari

Bayo Ojulari, Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, has announced the completion of the main line of the Ajaokuta-Kano-Kaduna (AKK) gas pipeline, marking a major milestone in Nigeria’s energy infrastructure development.

 

Ojulari made the disclosure on Sunday after a meeting with President Bola Tinubu in Lagos, highlighting the significance of the achievement for the country’s gas sector. He confirmed that the company has successfully completed the “welding of the main line of the AKK gas pipeline,” a critical step toward the operationalisation of the project.

The AKK gas pipeline, designed to transport natural gas from the gas-rich Ajaokuta region to northern Nigeria, is expected to enhance domestic gas supply, support industrialisation, and strengthen the country’s power generation capacity. Completion of the main line paves the way for subsequent phases, including testing, commissioning, and eventual delivery of gas to end-users across the pipeline route.

 

Ojulari noted that the progress reflects NNPC’s commitment to expanding Nigeria’s gas infrastructure and ensuring energy security, while also creating opportunities for investment and industrial growth along the pipeline corridor. He stated that the project aligns with the government’s broader strategy to harness the country’s natural gas resources for economic development.

 

The CEO further emphasized that the AKK pipeline is poised to transform the gas market in Nigeria by providing a reliable and efficient supply of gas for power plants, industries, and households, reducing dependency on imported fuels and boosting the domestic energy mix.

 

The announcement has been welcomed by stakeholders in the energy sector as a critical step toward realising Nigeria’s potential as a major gas-producing and industrial hub in Africa. Completion of the main line signals that the project is on track to meet its targeted milestones, reinforcing confidence in the country’s energy infrastructure plans.

Uche Jombo, Chizzy Alichi, Omoborty Lead Ranks Africa’s Celebrity Fashion Picks of the Week

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Uche Jombo, Chizzy Alichi, Omoborty Lead Ranks Africa’s Celebrity Fashion Picks of the Week

As the year draws to a close, Nigeria’s style icons are already setting the pace for what promises to be a bold and elegant fashion season ahead. This week, Ranks Africa spotlights standout celebrity looks that blended colour, structure, and refined glamour, offering a clear glimpse into the trends that may define the new year.

 

Here are Ranks Africa’s top celebrity fashion picks of the week, with picture details.

 

Uche Jombo

Picture detail: Uche Jombo is pictured in a glamorous off-the-shoulder evening gown in a rich purple shade. The fitted bodice is sculpted to perfection and adorned with black beaded embellishments that drape softly across her shoulders and neckline. The skirt flows into a darker hem, adding depth and drama to the look. Styled with soft curls and elegant drop earrings, she exudes timeless femininity and red-carpet poise.

 

Chizzy Alichi

Picture detail: Chizzy Alichi stuns in a dramatic high-fashion outfit featuring a sheer, ruffled tangerine-orange robe layered over a corset-style gown marbled in deep brown and muted plum tones. The robe creates volume and movement, while the structured inner dress defines her silhouette. With sleek hair and bold statement earrings, Chizzy delivers a powerful, runway-inspired look that radiates confidence.

 

Onome Umukoro

Picture detail: Onome Umukoro appears radiant in a metallic champagne-gold strapless gown with a softly draped neckline. The luminous fabric shimmers beautifully and flows into a floor-length hem that gently pools at the base. The minimalist cut, subtle ruching, and refined styling elevate the look, presenting Onome as the picture of modern elegance and quiet glamour.

 

Chinenye Ulaegbu

Picture detail: Chinenye Ulaegbu is captured in a striking red dress with a fitted bodice and thin shoulder straps. The fabric blends velvet and sequins, giving the outfit a rich, textured finish. The high-low ruffled skirt is heavily embellished, with an asymmetrical design that highlights her legs. The look is bold, playful, and undeniably eye-catching.

 

Biodun Okeowo (Omoborty)

Picture detail: Biodun Okeowo commands attention in an off-the-shoulder deep navy blue gown. The dress is form-fitting, accentuating her curves, and richly decorated with intricate beadwork and embroidery along the bodice and down the front. Long sleeves and a daring high slit complete the design, combining classic elegance with a touch of sultry glamour.

 

From sculpted silhouettes to flowing metallics and dramatic layers, this week’s fashion picks celebrate creativity, confidence, and refined taste. At Ranks Africa, these looks stand as proof that Nigerian celebrities continue to shape the style conversation, closing the year with statements that are both bold and beautifully executed.

Burna Boy, VeryDarkMan Visit Kirikiri Prison to Advocate Release of Eligible Inmates

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Burna Boy, VeryDarkMan Visit Kirikiri Prison to Advocate Release of Eligible Inmates

Afrofusion star Burna Boy and popular social media activist VeryDarkMan have visited the Lagos State Command of the Nigerian Correctional Service (NCoS) to engage authorities on the release of inmates who are legally eligible for discharge, particularly those whose sentences include the option of fines.

 

The visit was confirmed in a statement issued by Osho Onimisi Joseph, spokesperson of the Lagos State command, who said the duo paid a courtesy call to the Kirikiri Maximum Security Custodial Centre to seek firsthand information on the legal and administrative procedures guiding the release of such inmates.

 

According to the statement, Burna Boy and VeryDarkMan expressed interest in understanding how inmates with fine-based sentences could regain their freedom once the required payments are made, as well as the safeguards in place to prevent abuse of the process. The visit forms part of growing public advocacy aimed at decongesting correctional facilities and ensuring that justice is administered in line with existing laws.

 

The delegation was received by Sanni Richard, officer-in-charge of the Kirikiri Maximum Security Custodial Centre, who took time to explain the procedures involved. He outlined how fines are processed, the eligibility criteria inmates must meet, and the documentation required before any release can be approved.

 

Richard emphasised that the process is strictly guided by court orders and relevant regulations of the Nigerian Correctional Service. He noted that no inmate is released without proper verification and clearance, adding that multiple layers of checks are in place to ensure transparency, accountability, and compliance with the law.

 

He further explained that correctional authorities work closely with the courts and other justice sector agencies to confirm sentences, validate payments, and ensure that only inmates who have fully met the conditions of their sentences benefit from the process.

 

The Lagos NCoS command welcomed the interest shown by the visitors, describing it as a positive step toward public awareness and constructive engagement on issues of prison reform, inmates’ welfare, and justice administration.

 

The visit by Burna Boy and VeryDarkMan has drawn public attention to the plight of inmates who remain in custody despite having the option of fines, and it highlights the role that private citizens and public figures can play in supporting lawful efforts to decongest custodial centres and promote a more humane correctional system.

A Mirror of Society: How the Film Exposes Hypocrisy, Maternal Neglect, and the Quiet Roots of Childhood Anger

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A Mirror of Society: How the Film Exposes Hypocrisy, Maternal Neglect, and the Quiet Roots of Childhood Anger

One of the film’s most compelling strengths lies in its plot, which is at once familiar, relatable, and deeply engaging. Set within a distinctly Nigerian context, the story draws from everyday social experiences that many viewers will recognise. At its core is the encounter with the “oversabi” figure, a character type common in local settings, whose loud confidence often hides hypocrisy and moral weakness. This cultural reference grounds the narrative and makes it easy for audiences to connect with the characters and situations. Through this framework, the film examines themes of hypocrisy, rivalry among African mothers competing over whose child is the most successful, and the quiet but far-reaching consequences of neglect within the family.

 

The film is particularly effective in the way it handles the subject of maternal neglect. Rather than stating its message outright, it allows the audience to discover it through character behaviour and emotional cues. Chuka’s anger issues, for instance, are not portrayed as mere flaws, but as a direct result of the emotional neglect he suffers. His outbursts become a window into a child’s unspoken pain. In another subtle yet powerful touch, the eldest child is shown unconsciously imitating her mother’s habit of shouting, even though she dislikes the behaviour when it is directed at her. These moments underline how children absorb and reproduce what they see at home, often without awareness, and how parental actions shape attitudes and responses in lasting ways.

By weaving these details into the story, the film delivers a social message that is both clear and thoughtful. It reflects on how everyday choices within the home can nurture or damage young minds, and how unresolved rivalries and hypocrisy among adults ripple into the lives of children. The narrative does not rely on spectacle but on emotional truth, making its themes resonate long after the final scene.

 

Overall, the film stands out for its ability to blend an engaging, culturally rooted story with meaningful social commentary. Its exploration of family dynamics, neglect, and personal responsibility is handled with sensitivity and depth, leaving viewers not only entertained but also reflective about the realities it portrays and the lessons it quietly imparts.

SEC: ₦753bn Raised via Commercial Papers in Five Months

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SEC: ₦753bn Raised via Commercial Papers in Five Months

The Securities and Exchange Commission (SEC) has disclosed that over ₦753 billion was raised in Nigeria’s capital market through commercial paper issuances between April and October, underscoring growing investor confidence and the rising role of short-term instruments in corporate financing.

 

Emomotimi Agama, director-general of the SEC, made this known in an interview on Sunday, where he said the strong uptake of commercial papers reflects the market’s ability to provide flexible funding for businesses amid tight credit conditions.

 

According to Agama, the ₦753 billion raised during the five-month period was channelled mainly toward meeting short-term financing needs across key sectors of the economy, including manufacturing, energy, and agriculture. He noted that companies are increasingly turning to the capital market to bridge working capital gaps, fund operations, and manage cash flows more efficiently.

 

The SEC DG said the trend highlights renewed confidence by investors in the regulatory framework and in the creditworthiness of issuing companies. He added that the Commission’s ongoing reforms to strengthen transparency, disclosure, and market integrity have helped to deepen participation in the commercial paper segment.

 

Agama explained that commercial papers, as unsecured short-term debt instruments, provide corporates with quicker access to funds at competitive rates, while offering investors attractive returns and diversification opportunities. He said the growing volume of issuances shows that the instrument has become a vital component of Nigeria’s non-bank financing ecosystem.

 

He further assured market operators and investors of the Commission’s commitment to maintaining robust oversight of the market to ensure that issuances comply with regulations and that investors’ interests are protected.

 

The SEC boss expressed optimism that with sustained macroeconomic reforms and improving market confidence, activity in the commercial paper market and the broader capital market would continue to expand, supporting business growth and contributing to Nigeria’s economic development.

Paul Pogba Wins Comeback Award at BEYOND Developments GLOBE SOCCER Awards

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Paul Pogba Wins Comeback Award at BEYOND Developments GLOBE SOCCER Awards

Paul Pogba has been honoured with the prestigious Comeback Award at the BEYOND Developments GLOBE SOCCER Awards, recognising his resilience and determination in returning to top-level football after setbacks.

 

The Globe Soccer Awards, celebrated for spotlighting remarkable achievements and inspirational stories in football, highlighted Pogba alongside other players like Raphinha, whose recent performances have reignited hope and excitement among fans. The Comeback Award acknowledges players who have overcome injuries, challenges, or difficult periods to reclaim their place on the global stage.

 

In accepting the award, Pogba joins a select group of athletes celebrated for perseverance, reminding football enthusiasts worldwide that determination and dedication can restore careers and inspire the next generation. The recognition not only honours his individual journey but also reinforces the role of the Globe Soccer Awards in encouraging players to maintain their passion and commitment to the sport.

Wale Edun: Nigeria Remains Open for Business Despite US Air Strikes

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Wale Edun: Nigeria Remains Open for Business Despite US Air Strikes

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured investors and the international community that Nigeria’s financial markets remain stable and fully operational, despite reports of United States air strikes targeting Islamic State (ISIS) terrorists within the country.

 

Edun gave the assurance in a statement issued on Sunday, following reports of explosions in parts of Sokoto and Kwara states on December 25. Residents in affected communities had earlier reported hearing loud blasts at about the same time the United States confirmed it had carried out a series of air strikes against suspected ISIS positions.

Addressing concerns that the development could unsettle investor confidence, the finance minister said Nigeria’s domestic and international debt markets remain stable and are functioning efficiently. He attributed the resilience of the markets to prudent fiscal management and sustained reforms aimed at strengthening macroeconomic stability.

 

“Nigeria remains open for business,” Edun said, stressing that recent security developments have not disrupted the fundamentals of the economy or the operations of the country’s financial markets. According to him, government continues to engage with both local and foreign investors to reassure them of the safety and viability of investments in the country.

 

The minister noted that ongoing efforts to deepen fiscal discipline, improve revenue mobilisation, and manage public debt responsibly have helped to build confidence in the economy, even in the face of global and domestic uncertainties. He added that the administration is committed to maintaining a transparent and predictable policy environment that supports growth and investment.

 

Edun also reaffirmed the Federal Government’s commitment to working with security agencies and international partners to tackle terrorism and ensure the safety of lives and property across the country. He said peace and stability remain central to the government’s economic agenda.

 

The statement comes amid heightened public attention following the Christmas Day incidents, which raised questions about security and their possible impact on economic activities. However, the finance minister maintained that Nigeria’s financial system remains sound, resilient, and capable of supporting economic recovery and long-term development.

 

He urged investors not to be swayed by isolated incidents, assuring that the government will continue to safeguard the economy while pursuing reforms designed to unlock Nigeria’s vast economic potential.

NGX Turnover Fell by 79% in Three Days, Market Capitalisation Edged Up

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NGX Turnover Fell by 79% in Three Days, Market Capitalisation Edged Up

Trading activities on the Nigerian Exchange (NGX) dipped sharply in the week under review, with market turnover falling by about 79 percent, even as the overall market capitalisation recorded a slight increase.

 

According to the NGX weekly market report, a total of 2.87 billion shares valued at ₦63.83 billion were traded in 80,229 deals during the period. The figures reflect just three days of trading, following the Federal Government’s declaration of December 25 and December 26 as public holidays to mark the Christmas celebration.

The performance represents a significant drop from the previous week, when investors exchanged 9.84 billion shares worth ₦305.84 billion in 126,584 deals across the Exchange. In comparative terms, both volume and value of transactions declined steeply, highlighting reduced market participation within the shortened trading window.

 

Despite the sharp fall in turnover, the NGX market capitalisation inched up slightly over the week, suggesting that price appreciation in some key stocks helped offset the low level of activity. This indicates that while fewer shares changed hands, gains in select equities were enough to support the overall value of the market.

 

Market watchers attribute the subdued trading to the holiday-shortened week, as many investors stayed on the sidelines ahead of and during the Christmas break. The reduced number of trading sessions limited opportunities for portfolio adjustments and fresh positions, resulting in lower volumes and fewer deals.

 

Analysts note that such patterns are typical in festive periods, when liquidity often thins and activity slows, but price movements in heavyweight stocks can still influence market capitalisation.

 

The NGX is expected to see a rebound in activity in the coming week as full trading resumes and investors reposition portfolios for the new year, guided by earnings expectations, macroeconomic signals, and outlooks for key sectors of the Nigerian economy.

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