NAAPE frowns at non-disbursement of N180bn aviation bail-out funds

// Biz | NAAPE frowns at non-disbursement of N180bn aviation bail-out funds
Email to a friend Plain text Print version // Font size: Decrease font Enlarge font

By JIMOH BABATUNDE WITH AGENCY REPORTS

The National Association of Aircraft Pilots and Engineers (NAAPE), has frowned at the sluggishness in the disbursement of the federal government approved bail-out funds of N300 billion,  allocated to the power and aviation sectors of the nation’s economy.

Sixty percent of this fund, amounting to about N180 billion, was said to be approved for indigenous players in the Nigerian aviation industry.

The National President of NAAPE, Engr. Isaac Balami, said that, “Though we commend the Central Bank of Nigeria for successfully packaging this bail-out fund to support the indigenous airlines and other players, and getting the approval of the federal government for it, we frown at the sluggishness with which this critical aviation matter is being treated”.

Balami noted that, “Almost one year after this fund was created, no single Nigerian-owned airline has been able to draw down from it. This is a lamentable situation, considering that the aviation sector has remained in a comatose state, where many airlines are grounded because of one financial challenge or the other”.

The NAAPE boss explained further that, “Because majority of our airlines have no money to acquire new aircrafts, the local industry is forced to open its doors to more and more foreign-registered aircrafts, which cannot provide employment for Nigerian pilots and aircraft engineers.

He therefore canvassed for an urgent Presidential intervention in order to ensure that the N180 billion doesn’t remain an idle fund, when local aviation companies are in dire need.

Please enable JavaScript to view the comments powered by Disqus. blog comments powered by Disqus
Tagged : BIG-KLEF, David Oyedepo, Matthew Ashimolowo, Rivers State Tanker Explosion, Bishop Isaac Owusu Bempah, Achebes Body Arrives In Nigeria

Headlines Newsview all

Nigerian Esther Otubo Nicole, Ships Girls From Nigeria To Dubai For Prostitution

A social media user Emeka Ugwuonye, has put a certain Madam Esther Otubo Nicole (pictured) on full blast for what he terms ‘Human Trafficking’. According to ... Full story

Train Crushes Unidentified Crippled Man To Pieces In Benue (Very Graphic Images)

An unidentified crippled man was on Monday, crushed to unrecognizable pieces by a train in Makurdi, Benue State. The deceased’s corpse has been transferred to the ... Full story

Teenagers Attack Shops, Stab 3 To Death

There was panic on Freeman and Borno streets in the Oyingbo area of Lagos State when teenagers, armed with cutlasses and knives, attacked and looted ... Full story

AMORAN Official Murders Okada Rider

A commercial motorcyclist (popularly called okada rider), Azeez Ahmed, has been killed in Ifo, in the Ifo Local Government Area of Ogun State, over ticket ... Full story

Okada Riders Stabs, Kidnaps Security Man In Lagos

A Man O’War officer attached to a security post in Ikate Roundabout in the Lekki area of Lagos State, Ibrahim Busari, has been beaten up ... Full story

Boko Haram Releases Horrible Video Of Insurgency

  Islamist sect, Boko Haram, has released a barbaric video of its brutality in Nigeria, the stronghold of the sect. The sect has been waging a ...

Last Time Nigerian Army Bought Weapons Was In 2006 - Alex Badeh

Immediate past Chief of Defence staff, Alex Badeh is not done talking about the lack of equipment in the Nigerian army. In an interview with ... Full story

South African First Lady To Be Charged In Court Over Alleged Plot To Poison Jacob Zuma

The net is closing in on First Lady Nompumelelo ­Ntuli-Zuma, who has allegedly admitted to knowing about a plot to ­poison the president. City Press has ... Full story

Man Paraded Naked For Raping A 5 Year Old Boy In Lagos (+18 )

A man in his early 50s was reportedly caught pants down having sex with a 5 year old boy was mobbed and paraded naked by ... Full story

Goodie Ibru Arraigned For Alleged N1bn Fraud

The Economic and Financial Crimes Commission has filed 11 counts of fraud against the former Chairman of Ikeja Hotels Plc, Mr. Goodie Ibru, for allegedly ... Full story

Ibaa Community Threatens To Invoke Deity Over Kidnappings And Killings

THERE are indications that the people of Ibaa community in the Emohua Local Government Area of Rivers State have resolved to invoke the deity of ... Full story

Comment on: NAAPE frowns at non-disbursement of N180bn aviation bail-out funds

Rate this article

0

Breaking News

Davido: I Deserved To Win Best Male Artist Award

The pop star, who is gearing up for the release of his third studio album, said he deserved to win the 2015 MAMAs Best Male ... Full story

Am Not Owing Any Bank - Abike Dabiri-Erewa

Former House of Representative member, Abike Dabiri with twitter handle @abikedabiri has refuted claims by the Nigerian Deposit Money Banks that a company in which ... Full story

New Offside Rule Introduced For New Premier League And Football League Season

The start of the new season brings a tweak to football's offside rule - one that could result in quite a few goals being disallowed. If ... Full story

Ghanaians, Chadians And Others Neighbouring Countries Storm Nigeria For Dollars

The naira rate represents a sharp rise from N240 a week ago, as Nigerian commercial banks continue to reject cash deposits in dollars.  According to reports, ... Full story

Nwankwo Kanu Happy With U-23 Team, Arsenal Victories

Former Nigeria international, Nwankwo Kanu, has expressed his excitement over the wins recorded by his former club, Arsenal, and the Nigeria U-23 men’s team on ... Full story

Pray Ernest Asuzu Quits Bad Friends - Jennifer

Wife of Nollywood actor, Ernest Asuzu, Jennifer, has disclosed that she feels sad about the negative reports linked with her husband. Jennifer, who works as a ...

Obesere Warns Jealous, Aggrieved Ibadan Fuji Musicians

Fuji icon, Alhaji Abass Obesere, has warned his ‘enemies’ to stop threatening his fans in Ibadan because of the regular shows he gets from show ...

2face Idibia Attacks Comedian

Popular Comedian, Chuks D’ General, was put under intense ‘fire’ recently after his joke on Nigerian old and legendary singers went rather too far. Chuks ...

Arsenal Fan Who Picks Up Mourinho's Community Shield Medal After Defeat

Chelsea manager, Jose Mourinho threw his Community Shield runners-up medal to a young Arsenal fan after defeat at Wembley.  Chelsea manager, Jose Mourinho handed a young ... Full story

Timaya Pictured With Rihanna In Barbados

Nigerian dance-hall singer Timaya, was a guest star at a street festival last weekend in Barbados. He had the honour of performing on stage while Bajan ... Full story