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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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Jim Ovia Retires As Zenith Bank Chairman, Mustafa Bello Takes Over

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Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in line with regulatory requirements.

The bank disclosed this in a corporate notice issued in Lagos on May 5, 2026.

Ovia completed the mandatory 12-year tenure permitted under corporate governance guidelines for financial holding companies, non-interest banks, and payment service banks in Nigeria.

As the founder of Zenith Bank, he has been a central figure in its growth trajectory and was credited by the Board for providing strong leadership, strategic direction, and effective oversight throughout his time as chairman.

The Board noted that his commitment to governance standards and stakeholder value creation significantly enhanced the Group’s positioning and reputation in the financial services sector.

Until he was appointed Chairman, Engr. Mustafa Bello was a non-executive director in the bank.

Engr. Mustafa Bello graduated with B.Engr. (Civil Engineering), from the Ahmadu Bello University (ABU), Zaria, in 1978 with Second Class Upper Division, and won the Shell prize for best project and thesis for Faculty of Engineering in 1978.

He served in the Directorate of Quartering and Engineering Service (Nigerian Army) between 1978 and 1979. He later joined the Niger State Housing Corporation between 1980 and 1983 as a Senior Civil Engineer.

He served as a cabinet Minister of the Federal Republic of Nigeria as the Federal Minister of Commerce between 1999 and 2002. He was subsequently appointed Executive Secretary/Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC) between November 2003 and February 2014.

He is currently the Chairman of Invest-in-Northern Nig. Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian Economy.

He has been involved in several projects in Nigeria, including the CAC online project in 2002, developing a WTO-consistent Trade Policy for the Federal Republic of Nigeria, etc.

He has attended several conferences, missions, and meetings and represented the Federal Government of Nigeria.

Channels Television

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Why MTN, Airtel Suspended Airtime, Data Borrowing Services + the FCCPC Connection

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Nigeria’s largest telecom operators are temporarily suspending airtime and data loan services, a once-sticky feature for prepaid users, as new consumer lending rules force them into full regulatory compliance.

On Thursday, MTN Nigeria, the country’s largest telco, temporarily suspended its airtime and data lending product, Xtratime, and Airtel Nigeria, the second-largest provider, followed suit on Friday, citing the need to align with “evolving requirements.” Both companies say customers can still purchase airtime and bundles through standard channels.

“MTN Nigeria Communications PLC (MTN Nigeria or the Company) hereby notifies the Nigerian Exchange Limited and the investing public that the Company has temporarily suspended its airtime and data credit advance service (“Xtratime”),” the telco said in its filing. “This relates to the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licencing framework for entities providing digital or non-traditional consumer credit services.”

Nigerian telecom providers are reviewing their digital lending services to consumers following new rules by the Federal Competition and Consumer Protection Commission (FCCPC), passed in July 2025. Those guidelines apply to any entity involved in the provision, facilitation, or administration of digital or non-traditional consumer lending, bringing airtime and data advances into scope and requiring operators to obtain licences and meet the compliance requirements before continuing the services.

“Airtel Nigeria remains committed to the highest standards of compliance, transparency, and consumer protection, while continuing to innovate responsibly within Nigeria’s digital ecosystem,” said Ismail Adeshina, the company’s director of marketing, in the statement released Friday.

However, in a statement issued on Friday, the FCCPC pushed back against claims that it ordered the suspension of airtime lending services, stating that it “has not prohibited airtime borrowing or data advance services, and no directive was issued preventing consumers from accessing lawful telecom value-added services.”

The regulator framed the disruptions as a consequence of operators’ failure to comply with existing rules within the stipulated timelines.

The FCCPC’s Digital, Electronic, Online, or Non-Traditional Consumer Lending (DEONCL) Regulations and Guidelines apply to entities involved in digital consumer lending, including services tied to repayable monetary value. Products, such as MTN’s Xtratime, fall within the scope of the framework.

The FCCPC said the rules were introduced following “a deluge of consumer complaints” involving opaque charges, unexplained deductions, aggressive recovery practices, and poor disclosure standards across digital lending services.

According to the consumer protection watchdog, affected digital lending operators, including telcos, were initially given a 90-day compliance window in 2025, later extended to January 5, 2026, yet relevant operators failed to meet the necessary compliance steps.

“In the telecom sector, our findings indicated that some operators engaged in exclusionary third-party technical arrangements in clear disobedience to the provisions of the Federal Competition and Consumer Protection Act, 2018. The Regulations sought to unlock the market to allow local participants alongside foreign partners, in line with free market principles. These measures benefit Nigerians by reducing abusive practices, improving transparency, strengthening consumer choice, and encouraging responsible innovation by legitimate operators,” the regulator said on Friday.

Any temporary suspension, restriction, or operational change introduced by service providers, including telcos, should therefore be understood as a business or compliance decision by those operators, not a ban imposed by the FCCPC, the statement read.

Securing approval under the framework requires service providers to apply to the FCCPC, submit corporate and ownership documents, and disclose their lending models, including interest rates, charges, and default fees. Applicants must also declare all digital lending applications and interfaces used to issue credit, and provide evidence that these systems meet data protection and security standards under Nigerian law.

The rules further require formal consumer lending or service-level agreements (SLAs) for any partnerships with banks or fintechs. The FCCPC charges approval and renewal fees under the regulations, including an additional ₦500,000 ($372) for each lending application beyond the initial five permitted under a single approval.

While it is usually not reported separately, airtime lending contributes a sizable amount to telcos’ revenue.

In 2025, MTN Nigeria’s fintech revenue reached ₦191.3 billion ($142.5 million), growing by 80% from the previous year. About ₦10.9 billion ($8.1 million) accounted for its core fintech revenue, while the rest significantly came from airtime lending and other value-added services.

In Airtel’s case, the telco reports airtime credit service under its mobile services revenue segment, and according to how it defined this product in its 2025 financial year, it treats airtime credit as a value‑added service (VAS) classified as a mobile services product rather than a mobile money product.

In the nine months to December 2025, Airtel Nigeria’s mobile services revenue grew by 50% to $1.12 billion from $738 million year‑on‑year in constant‑currency terms. Data brought in $576 million; voice contributed $432 million, and “other” revenue—the bucket where airtime and data credit earnings sit—reported $113 million, up by about 44% from the previous year.

By comparison, Airtel Nigeria’s mobile money product, SmartCash, earned only $6 million over the same period, underscoring how small its fintech line still is relative to core mobile services income.

Airtime and data lending are high-margin businesses for telcos, since they keep the interest on advances, while incurring little to no procurement costs. Airtime credit is also critical for Nigeria’s credit-starved market, where increased telecom tariffs have pushed up the cost of staying online.

Other telecom operators operating in Nigeria, including Globacom and T2, are yet to announce similar moves. Both MTN Nigeria and Airtel Nigeria said the suspension is temporary and that the services will resume once they meet the requirements.

Source: Tech Cabal

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Fuel Importation Ban: Dangote Tackles NMDPRA over Continuous Issuance of Import Licences

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President of Dangote Industries Limited, Aliko Dangote, has raised concerns that Nigeria’s downstream regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is still issuing licences for petrol importation despite public assurances to the contrary, warning that the practice could undermine the operations of his refinery and threaten the country’s energy security.

Speaking in an exclusive interview with THISDAY, Dangote said the continued importation of refined petroleum products into Nigeria was hurting the Dangote Petroleum Refinery, which he insisted has the capacity to meet the country’s fuel demand.

“They are still issuing licences despite that we can meet the demand. They are still killing us with importation. They are importing and we are exporting. Yes, we can do 75 million litres, but they are still back-loading,” Dangote said.

According to the billionaire businessman, the refinery can produce up to 75 million litres of petrol daily, but some market participants are still bringing imported products into the country, a development he said could distort the domestic fuel market.

Dangote said the persistence of import licences contradicts earlier assurances by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that fuel imports would be restricted once domestic refining capacity improved.

His comments came against the backdrop of a statement by the NMDPRA indicating that it had stopped issuing new licences for petrol importation because domestic refining was now meeting a significant portion of Nigeria’s demand.

The regulator said the decision aligns with provisions of the Petroleum Industry Act, which allows import licences to be issued only when local production cannot meet national consumption needs.

According to the agency, no new petrol import licences were issued in 2026 as supply from domestic refineries, particularly the Dangote refinery, was considered sufficient to support the local market.

However, NMDPRA data for January 2026 showed that about 24.8 million litres of imported petrol were still consumed daily in Nigeria, although the figure dropped significantly to about three million litres per day in February.

Dangote further alleged that many of the companies importing petrol into Nigeria do not operate retail outlets or filling stations, suggesting that some of the imported volumes may be diverted or smuggled after arriving in the country.

He warned that the trend could mirror challenges previously faced by Nigeria’s rice industry, where local producers struggled to compete with imported products.

Nigeria has historically relied on imported refined petroleum products due to the poor performance of its state-owned refineries. However, expectations have risen with the start of operations at the Dangote refinery, which has a processing capacity of 650,000 barrels per day and is regarded as the largest single-train refinery in the world.

The facility is seen as a major step in Nigeria’s efforts to end decades of dependence on imported fuel.

Meanwhile, Nigeria’s minister of foreign affairs, Yusuf Tuggar, has said the ongoing tensions in the Middle East highlight the need for stronger energy partnerships with countries like Nigeria.

He noted that disruptions in oil shipments through the Strait of Hormuz, a key global oil corridor, underscore the importance of diversifying supply sources.

Tuggar said Nigeria’s untapped oil and gas reserves present an opportunity for Gulf states to partner with the country in expanding production and stabilising global energy supply.

Nigeria currently produces about 1.7 million barrels of oil per day, up from around 1.4 million barrels when President Bola Tinubu assumed office in 2023, with the potential for further growth through increased investment in fields and pipelines.

He added that while Nigeria still imports significant volumes of refined petroleum products, expanding domestic refining capacity could help the country better withstand global energy shocks in the future.

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