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NAAPE urges FG, NCAA, NMDPRA to address Jet A1 crisis over safety concerns

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The National Association of Aircraft Pilots and Engineers (NAAPE) on Sunday urged the Federal Government, the Nigerian Civil Aviation Authority (NCAA), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and fuel suppliers to urgently address the ongoing Jet A1 fuel crisis, warning that the situation is posing growing risks to airline operations and passenger safety.

In a statement issued in Abuja, the union said persistent fuel supply disruptions have continued to affect flight operations nationwide, forcing airlines to adjust schedules, delay departures and reduce route frequencies amid mounting operational costs.

NAAPE President, Bunmi Gindeh, said the situation has become a major safety concern, particularly for flight crew members facing extended duty hours due to operational disruptions linked to fuel shortages.

“The persistent disruptions to flight schedules occasioned by the Jet A1 supply shortfall have resulted in significant extensions of crew duty time beyond planned parameters,” he said.

“Fatigue impairs cognitive function, slows reaction time, and, most dangerously, erodes situational awareness,” he added.

According to the union, fatigue management remains a critical global aviation safety issue because prolonged work cycles can affect judgement, communication and emergency response capacity during flight operations.

NAAPE also warned that the economic impact of the fuel crisis is placing additional strain on airlines and aviation workers.

“Grounded or delayed aircraft generate no revenue, yet fixed operational costs persist. The strain often filters down to aviation workers through delayed salaries, reduced welfare conditions, and rising workplace stress,” Mr Gindeh noted.

The warning comes amid growing pressure across Nigeria’s aviation industry over rising Jet A1 prices and supply constraints.

PREMIUM TIMES has reported extensively on how the aviation fuel crisis continues to affect airline operations and passenger experience across the country through delays, cancellations, schedule disruptions and operational adjustments by carriers.

Most recently, on 8 May, Rano Air announced the temporary suspension of some of its routes, citing the more than 300 per cent increase in Jet A1 prices and worsening operational costs.

The airline said the development had placed “enormous pressure” on its operations, forcing it to scale back services on affected routes because some routes had become “extremely challenging and commercially unsustainable.”

Other domestic operators, including Air Peace, United Nigeria Airlines and Ibom Air, have also repeatedly raised concerns over rising aviation fuel costs, warning that the situation is threatening the sustainability of airline operations.

Industry operators say aviation fuel remains the single largest cost component for airlines in Nigeria, accounting for as much as 40 per cent of operating expenses in some cases, significantly above global averages.

Although the Federal Government previously intervened after airlines threatened operational shutdowns over soaring fuel prices, operators say the underlying supply and pricing challenges remain unresolved.

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Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

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BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

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FG debunks claims of plans to introduce telecoms, fuel taxes

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The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

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Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

READ ALSO: NRS launches Rev360 to ease tax compliance

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.

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