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AFCFTA: NANTA to Promote Intra African Tourism Trade

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The projected 3.4 trillion dollars Gross Domestic Product ( GDP) rated Africa Continental Free Trade Area ( AFCFTA) Initiative, is to gain a muscled buy- in by the National Association of Nigeria Travel Agencies (NANTA), which will be facilitated through aviation collaborations with four major African indigenous airlines, Kenya Airways, Egypt air, Ethiopian Airlines and Rwanda Air.

With expected liberalized free trade and duty free enabled goods and services regime across african borders despite challenges of covid 19 pandemic and teething problems, nanta believes that an organised trade and tourism marketing among african nations facilitated by well thought out aviation connectivity, African union passport and synchronized visa regime, among nations under the AFCFTA deal, could change the economic narratives of the estimated 1.3 million population of African nations.

Concerned that the trade pact has potentials of lifting out the vulnerable poor, particularly african women who bestrides about 70% the informal sectors in Africa out of poverty, Nanta President, Mrs Susan Akporiaye says AFCFTA presents a refreshing assessment of the tourism and aviation collaborations with african airlines at the forefront to exploit and boost intra African trade, create travel and tourism jobs and improve competitiveness of the unique african culture, indigenous crafts and tourism to the global community.

Mrs Akporiaye, unvieling nanta “Africa to Africa Tourism Promotion campaign” to the management of the four major African airlines at different meetings in lagos, Tuesday and Wednesday, stated that with the advent the African union passport by Africa Union (AU), and nanta driving the tourism and Culture content initiative in collaboration with the airlines, will enhance and lubricate the promotion and marketing of african tourism economy, creating jobs in the process and engendering peace and integration.

Speaking during the visit to Kenya Airways management, nanta president called for a detailed and focal attention on Kenya tourism within the AFCFTA agenda and with nanta members, pushing the frontiers of its marketing and promotion.

She believes Kenya Airways can be a veritable partner, in the nanta driven vision to create jobs across and within Africa region through intra continental tourism initiatives.

Hafis Balogun, Country Manager, Kenya Airways who received nanta President and her delegation, praised the NANTA Africa to Africa Tourism Promotion campaign, noting that Kenya Airways, will partner with the association to give a different holiday experience to Nigerians and africans interested to visit Kenya.

Mr Balogun who conducted the nanta team round the office of Kenya Holidays, noted that the office, in response to the dreams and demand for holiday visits to Kenya, will in due course, roll out specific tourism products and to which nanta will be the driving force.

” We have taken note of the desire to rebrand and drive the Kenya Holidays with safari,beach shopping tourism products enabled agenda, and with your deserving collaboration, Kenya tourism would rebound fast.

At the victoria island Office of Ethiopian Airlines, Mrs Susan Akporiaye reiterated the need for intra African tourism rebirth and challenged the management to facilitate the promotion of Ethiopian religious tourism and its agricultural offerings.

Elated at the nanta Africa Tourism Promotion campaign, the General Manager, Nigeria of the biggest airline in Africa, Mr Shimeles Arage noted that the Ethiopian national carrier, has been in the forefront of african connectivity and integration, stating that the airline hauled across the world and africa, the covid 19 pandemic medical response equipment and other cargos which helped african businesses in particular, to remain afloat at the height of the pandemic.

“We shall collaborate with nanta on this laudable campaign and would do the needful in truely letting africans and Nigerians know more about Ethiopia tourism which I must admit, we have not given the true focal attention.'” Mr Arage added , informing that Nigerians would be amazed at the religious tourism offerings of northern Ethiopia which harbours the the ark of the covenant and other relics and highpoints of early christianity, not excluding the destinct aromatic ethiopian Coffee brand.

“We are with you on this amazing Africa to Africa tourism initiative” Mr Arage assured nanta President and her team which comprised of the lagos zonal vice President, Yinka Folami, national auditor, Yinka olapade and executive secretary, slyvester olobor.

Addressing Rwanda Air management, Mrs Susan Akporiaye stressed that Rwanda Air has shown capacity and discipline since bestriding the african aviation space, hence the need to be part of the nanta driven african tourism promotion agenda, particularly in showcasing its famed tourism infrastructural renewals and agricultural offerings.

Country manager, Rwanda Air, Muhamud Wayiga praised nanta for being in the forefront of the AFCFTA tourism buy-in, requesting the association to furnish him with Nigerian tourism products and destinations to enable the airline market Nigeria not only in Rwanda but in others countries where the airline has established presence.

” Am glad to receive you and your team today in Rwanda Air and in due course, I will visit your office which I understand is representative of your progressive impact.But we at Rwanda Air will like to know more about Nigeria, we want other people, our passengers to come to Nigeria and enjoy its hospitality, not just about promoting Rwanda alone, that is why am happy about this nanta initiative. Mr Wayiga stressed

Received in audience at the Egypt air by the management team led by General Manager, Mr Muharram Abdel Rahman, Financial Controller, Ayman Mohamed Hassan and Ahmed Rasaq, chief accountant, Mrs Susan Akporiaye, said Egypt air has the history and capacity to be at the forefront of nanta driven africa to Africa tourism and aviation collaboration.

” We at nanta is convinced that if Egypt air partners with us and put its strength in the pact, the people of the continent would be better for it” nanta president explained.

Responding, Mr Muharram Abdel Rahman noted that egypt is the oldest country in africa nay the world, is determined to put its strength and experience behind the nanta Africa Tourism Promotion campaign.

” First, let me congratulate you and your team for the good work you have done so far despite the impact of covid 19 pandemic. We at Egypt air salute your courage and for coming up with this initiative, we cannot but commend you for your foresight and open doors to deepen the african tourism economy” he enthused.

Mr Rahman explained that Egypt air can collaborate in areas of training, medical tourism, logistics and security and safety.

” We must admit that our visa regime is a bit confusing to Nigerians but we now have visa on arrival but the group tour regime is also difficult to sell in Nigeria unlike what is obtainable in Europe and America, where tourists, come to Egypt in groups and have seamless visits. Nigerians don’t like to travel in groups and so we wish to encourage group visits and we can support with visa procurement, thereby helping to facilitate visit Egypt holidays” Mr Rahman explained further.

To show instant commitment to the nanta Africa Tourism Promotion campaign, Mr Rahman noted that a meeting with Egyptian ambassador and Egypt holiday outfit, will be facilitated by the management of the airline as top priority.

Highpoint of the collaborative outreach is the setting up of a Committee by nanta and the collaborating airlines
to further enrich the vision and address possible cobwebs.

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UBA Unveils Diaspora Platform to Connect Global Africans with Investment Opportunities

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a diaspora banking and investment platform designed to serve Africans living and working across the world and within the continent.

The platform, launched in collaboration with leading ecosystem partners including United Capital, Africa Prudential, UBA Pensions, Afriland Properties, Heirs Insurance Group, and Avon Healthcare Limited — represents a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment.

At the unveiling, which took place at UBA’s global headquarters in Lagos under the theme: “Beyond Banking: Powering the Global African Lifestyle, all the company representatives were on hand to showcase a seamless platform that goes beyond remittances, wealth creation, protection, and long-term prosperity.

Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, described the initiative as a strategic shift in how Africa engages its global citizens.

“For decades, Africa’s engagement with its diaspora has focused largely on remittances. Today, we are moving beyond that. This platform represents a transition from simple money transfers to a financial ecosystem where Africans globally can bank, make payments, invest, protect their families, and build long-term wealth seamlessly,” he said.

Rao noted that African diaspora remittance flows exceed $100 billion annually, making them one of the most resilient and consistent sources of capital into the continent.

“Diaspora capital is not just a flow of funds — it is a strategic growth partner for Africa.
Our role is to provide a trusted platform that converts capital into structured investment and shared prosperity across the continent.”

The objective is to provide a platform that brings together offerings across the numerous needs of the Global African, including Banking and payments, Investments, securities services, asset management, Insurance, Pensions, real estate and Pensions.

Through this coordinated ecosystem, diaspora customers can access financial solutions across multiple sectors through a single trusted platform, enabling them to manage their financial lives and family commitments across borders with ease and transparency.

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, emphasised the importance of collaboration in delivering a seamless diaspora experience.

“The modern African is a global citizen — mobile, ambitious, and deeply connected to home. Whether living in Africa, Europe, the Americas, or the Middle East, there must be a structured and secure financial connection back home. This platform ensures that Africans everywhere can remain economically connected to the continent with confidence and transparency.”

Partners within the ecosystem highlighted growing demand among diaspora Africans for structured investment opportunities, secure property ownership, insurance protection, and long-term financial planning.

United Capital showcased globally accessible investment products designed to deliver professionally managed and transparent wealth creation opportunities.

Afriland Properties emphasised structured and well-governed real estate investment pathways for diaspora clients.

Heirs Insurance highlighted protection solutions for life, and assets, while Avon Healthcare Limited demonstrated healthcare access and insurance solutions for families across borders.

Africa Prudential and UBA Pension reinforced digital investment management and long-term pension savings solutions designed to support diaspora participation in African capital markets.

Together, the partners underscored a shared commitment to providing diaspora Africans with credible, transparent, and professionally managed financial pathways.

Rao also reiterated the guiding philosophy of Africapitalism, championed by UBA’s Founder and Chairman, Mr. Tony O. Elumelu, CFR.

He explained that Africapitalism is the belief that Africa’s private sector must play a leading role in the continent’s development by making long-term investments that generate both economic returns and social impact.

As Africa continues to position itself as one of the world’s most dynamic growth frontiers, UBA believes mobilising diaspora capital through trusted financial institutions will be central to shaping the continent’s next phase of development.

“Africa will increasingly be financed by Africans themselves, including Africans abroad.

“Our responsibility is to build the trusted financial infrastructure that makes this possible.

“When Africa’s global citizens invest back into Africa, growth becomes inevitable,” he concluded.

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Dangote Refinery’s Crude Distillation Unit and Motor Spirit Block Hit 650,000bpd Capacity

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Dangote Refinery’s Crude Distillation Unit and Motor Spirit (MS) Block Hit 650,000 bpd Capacity
…First Refinery In The World to Attain This Feat

The Dangote Petroleum Refinery has achieved a major operational milestone with the full restoration and optimisation of its Crude Distillation Unit (CDU) and Motor Spirit (MS) production block. Both units are now running at optimal performance, further strengthening the steady state operations of Africa’s largest oil refining facility.

Following a scheduled maintenance exercise on the CDU and MS Block, the refinery has commenced an intensive 72 hour series of performance test runs in collaboration with licensor UOP. These tests are designed to validate operational efficiency and confirm that all critical parameters meet global standards.

Chief Executive Officer, David Bird, noted that the seamless integration and strong performance of the units demonstrate the refinery’s advanced engineering and robust operational capabilities.

“Our teams have demonstrated exceptional precision and expertise in stabilising both the CDU and MS Block, and we are pleased to see them functioning at optimal efficiency. This performance testing phase enables us to validate the entire plant under real operating conditions. We are confident that the refinery remains firmly on track to deliver consistent, world class output.

This milestone underscores the strength, reliability, and engineering quality that define our operations. We remain committed to producing high quality refined products that will transform Nigeria’s energy landscape, eliminate import dependence, and position the nation as a net exporter of petroleum products.”

Bird added that the CDU and MS Block, which comprise the naphtha hydrotreater, isomerisation unit, and reformer unit, are now operating steadily at the full nameplate capacity of 650,000 barrels per day. He further confirmed that all remaining processing units will begin their respective performance test runs in Phase 2, scheduled to commence next week.

During the recent festive period, the refinery supplied between 45–50 million litres of Premium Motor Spirit (PMS) daily. With the CDU and MS Block now fully restored, the refinery is positioned to comfortably deliver up to 75 million litres of PMS to the domestic market as required.
Expressing appreciation to customers and Nigerians across the country, Bird reaffirmed the refinery’s unwavering commitment to enhancing Nigeria’s energy security while supporting industrial development, job creation, and economic diversification.

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FirstHoldCo Grows Gross Earning to N3.4trn for Unaudited Full Year 2025

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First HoldCo Plc has announced its unaudited financial results for the year ended 31 December 2025, reflecting a year of deliberate strategic actions aimed at strengthening its balance sheet, improving asset quality, and positioning the business for more resilient and sustainable growth amidst successful capital raise activities.

As stated in the unaudited Group financial statement, FirstHoldCo recorded a 4.8% year-on-year (y-o-y) increase in its Gross earnings to N3.4 trillion, supported by a 36.3% y-o-y growth in net interest income of N1.9 trillion on the back of enhanced earnings yield and margins of 17.11% and 11.0%, respectively. Similarly, net fees and commissions improved by 18.7% y-o-y to N290.7 billion. These are clear indications of the strength of the revenue generating capacity of the core business which continues to be solid. Earnings for the year were, however, lower than the prior year, primarily due to higher impairment charges in the commercial banking segment. This is in line with a deliberate strategic decision to accelerate balance sheet clean-up and adopt more aggressive provisioning standards. Management views this as a prudent step that enhances transparency, strengthens investor confidence, and aligns fully with evolving regulatory expectations.

Additionally, increased regulatory costs affected profitability. These charges, while weighing on the results, underscore the Group’s compliance with Nigeria’s financial system stability framework and its commitment to ensuring systemic confidence. Despite these pressures, underlying performance of the Group remains strong.

Deposit liabilities grew by 10.0% y-o-y, driven by sustained deposit mobilisation and continued investment in digital banking platforms. This growth reflects strong customer confidence and deepening engagement across key segments. The deposit mix also showed a deliberate reduction in foreign currency deposits, resulting from the repayment of expensive funding and the impact of naira appreciation. This shift supports improved funding efficiency and reduces foreign exchange risk.

Gross loans and advances declined marginally, reflecting a disciplined approach to credit growth, strengthened risk management, loan repayments, write-offs, and the translation impact of a stronger naira on foreign currency facilities. The Group intensified its commitment to ensuring a high-quality, cleaner asset base, aiming to optimise the portfolio and enhance future earnings potential.

Furthermore, performance in earnings was impacted by a decline in non-interest income, mainly due to lower fair value gains on financial instruments following the naira appreciation in 2025. However, this was partially offset by stronger foreign exchange (FX) trading income and reduced FX revaluation losses. Net fees and commission income also grew, supported by higher electronic banking fees, letters of credit commissions, custodian fees, and account maintenance income, reflecting the continued success of the Group’s digital-innovation strategy.

While impairment charges increased following the end of regulatory forbearance, management has intensified recovery initiatives and reinforced credit oversight. Excluding impairment and fair value gains, pre-provision operating profit grew by 23.9% y-o-y to N973.3 billion demonstrating robust performance of the core business.

Apart from the commercial banking impairments, performance across the rest of the Group remained resilient, supported by steady customer activity and disciplined execution.

Looking ahead, the Group will continue to prioritise disciplined execution of its strategic objectives, with emphasises on enhancing efficiency and profitability, continuing to build on the Group’s digital and data capabilities, while sustaining a robust balance sheet to support increased value creation and returns for shareholders. Alongside this, the Group will pursue selective growth initiatives, including new revenue streams, additional business verticals, and deeper participation in targeted African markets, in line with our strategy and risk appetite.

Further details and insights are to be provided when the audited full-year results are published and during the subsequent investor and analyst earnings call.

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