Featured post

🇳🇬 Shell Approves $2 Billion Offshore Gas Project in Nigeria — A Major Boost for the Nation’s Energy Future

Image
Global energy giant Shell Petroleum Development Company (SPDC) , in collaboration with Sunlink Energies , has officially approved the development of a new $2 billion offshore gas project in Nigeria. This project, named the HI Gas Field Development , is a landmark step in reviving Nigeria’s oil and gas fortunes and a strong signal of renewed investor confidence in Africa’s largest energy producer. 🔹 A Bold Step in the Offshore Frontier The HI gas field, located in Oil Mining Lease (OML 144) roughly 50 kilometers offshore the Niger Delta coast, is expected to produce about 350 million standard cubic feet of gas per day at peak capacity. Shell holds a 40% stake in the project, while its partner Sunlink Energies retains 60% . The gas will be supplied primarily to Nigeria LNG (NLNG) and other domestic offtakers, helping to meet Nigeria’s rising energy demand. According to project details released by Shell on Monday, the development will include a combination of subsea wells , of...

FG bans Arik air Operations

The Federal government through the Service of Flight and Aviation Improvement has requested that the activities of Arik Air be grounded.

The minister of  Flight, Festus Keyami spread the word about this on Tuesday, July 30 through a proclamation on X.


FG bans Arik air Operations


In February 2017, Arik Air was taken over by the federal government through the Resource The executives Enterprise of Nigeria (AMCON) because of the organization's gigantic obligation profile, assessed at over N300 billion.

The public authority, following the takeover, promptly broke up the airline's management and delegated a recipient director.

Reacting to the order of the Minister, Asset Management Corporation of Nigeria (AMCON) which is currently managing the airline, issued a statement signed by Chief Executive Officer, Captain Roy Ilegbodu, stating that the management of the airline under receivership was dismayed by the directive to ground its operations by the Minister.

“The management of Arik Air (In Receivership) is dismayed by the sudden order issued by the Honourable Minister of Aviation to ground our Aircraft. This decision, made without warning or consultation, has serious repercussions for our valued passengers, dedicated employees, and the broader Nigerian economy.

“Our priority has always been to connect people and facilitate commerce, especially on critical domestic routes. The grounding of our fleet disrupts these vital services, leaving passengers stranded and inflating already high travel costs. This decision hurts everyday Nigerians who rely on our flights for business, family, and essential activities.

The decision also disregards ongoing judicial processes,” the airline said.

It also recalled that on February 26, 2016, a judgment was made in favour of Atlas Petroleum International Limited and Engineer Arthur Eze. However, there is an ongoing case in the Federal High Court, where Asset Management Corporation of Nigeria (AMCON) is asserting its secured interest in Arik’s assets.

“Despite this, a writ of attachment was issued on July 18, 2024, targeting our Aircraft, subsequent to which, further to an originating motion filed by AMCON, the High Court of the FCT on July 25, 2024, clearly instructed all parties to maintain status quo. We therefore are perplexed as to the grounding of our fleet, which is an overreach of the ongoing judicial processes and directives of the court.

“We believe this action undermines the rule of law and sets a dangerous precedent, prioritizing unsecured private interests over the public good and the rights of secured creditors. We are committed to following the legal process and have full faith in the judiciary to resolve these matters fairly.

“Arik has always been a proud partner in Nigeria’s growth, providing reliable and safe air travel. We urge the authorities to reconsider this decision, lift the grounding order, and allow us to continue serving the public and supporting the economy. We stand with our passengers and employees during this challenging time and are working tirelessly to resolve this situation. Your support and understanding are greatly appreciated.

“We sincerely regret any inconvenience caused to our esteemed passengers,” the statement also said.

 

 Also read: UPDATED: NCC orders immediate reactivation of all blocked lines

Comments

Popular posts from this blog

BBNaija Season 10: Danboskid and Ibifubara Become First Evictees

Nigerian blogger Olufunke 'Angels Empire' Afeh is set to appear in court on April 8 following her recent arrest and detention in connection with allegations of cyberstalking and harassment.

🍲🔥 BBNaija Food Fight! Big Soso and Ivatar Joanna Clash Over Missing Ingredients in Biggie’s House!