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Yuletide: Local flights break N300,000 mark

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The cost of airfares on some domestic routes has jumped by about 150 per cent, crossing N300,000, as travellers now experience an astronomical rise in air ticket rates due to the high passenger volume associated with the Yuletide, among others.

Checks by The PUNCH showed that the hike in airfares was particularly on the South-South and South-East routes. These routes have high patronage, as most domestic air movements during the festive period are to these areas.

Usually, during the Yuletide rush, airfares are raised due to the high demand for tickets. But this season, passengers say prices of air tickets are out of reach following various economic challenges. Operators told our correspondent that the shortage of aircraft further compounded the airfare hike.

Before the festive period, air tickets on domestic routes hovered around N120,000. But an analysis of domestic airfares on the websites of airlines on Tuesday showed that ticket costs, particularly to the South-South and South-East regions, have increased by about 150 per cent compared to what the prices were before the Yuletide.

A flight search on the booking platform of Air Peace showed that a one-way economy ticket from Lagos to Asaba in Delta State moved from about N120,000 to over N300,000. The airline, between December 24 – 29, put the same ticket at N337,500.

Also, Delta State–bound passengers from Abuja will buy tickets from the airline for N335,500 between 23 – 28  December of this year. But the price may drop to N240,000 between 29 – 31 of the same month.

However, Aero Contractors offered a seat for N238,452 to Asaba on December 24, 2025. United Nigeria Airlines will also fly Lagos to Asaba at N399,999 and fly Abuja to Asaba between December 22 – 26 at prices ranging from  N335,499 and N360,499.

Findings further showed that Air Peace may only fly between Lagos and Enugu from December 28 – 29  for prices ranging between N335,500 and N430,700. The airline will also sell its ticket for N335,500 from December 24 – 28, and sell for N240,200 on the 29th of the same month for domestic passengers flying from Abuja to Enugu.

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Lagos to Calabar on Aero Contractors will cost between N187,976 and N151,786 between December 22 – 24, while United Nigeria will sell a seat on its Lagos–Benin flight for N335,499 between December 22 – 30, but it increased the price by N10,000 on December 31.

Air Peace will sell its Lagos–Port Harcourt ticket for N335,500 between the 23rd–29th of the month.

Most dramatic flights are within a one-hour range. For instance, Asaba and Benin are about 40 minutes by air and about four hours by road.

Many Nigerians prefer air travel not only because it is faster but also because it helps them avoid security challenges across the country.

Lagos–Anambra on December 17, on United Nigeria Airlines will cost N399,999. From December 18 – 21 have been sold out. For Owerri-bound passengers from Lagos on the UNA flight, prices fluctuate between N335,499 and N499,998 from December 16, 2025.

Following the new price surge, some passengers are now considering travelling by road to their destinations as an alternative amidst the insecurity currently ravaging the country. Meanwhile, aside from the lack of adequate aircraft to operate, operators also lament multiple taxation as another reason for the hike in airfares.

Experts in the industry ascribed one of the reasons for the aircraft shortage to maintenance hiccups. Many of the airlines’ planes are parked in different Maintenance, Repair, and Overhaul hangars scattered abroad.

In a recent paper, Charles Grant, Chief Financial Officer, Aero Contractors, said Nigerian airlines use only 38 serviceable aircraft—one of the clearest signs that the aviation system requires intervention.

He blamed the low number of aircraft on multiple charges and unfriendly government policies, appealing to the government to stop seeing aviation as a revenue-generating sector and instead reinvest funds amassed from aviation back into the sector.

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“Today, most Nigerian airlines operate with just four to six active aircraft, despite national demand. That’s not a choice; it’s the result of punitive economics,” Grant stated.

Also, in a dramatic turn of events, Nigeria’s largest carrier, Air Peace, disclosed that in the past weeks it has experienced several operational disruptions, resulting in flight delays and cancellations after its lessor, SmartLynx Airlines, withdrew three aircraft from its fleet unannounced after receiving payment in advance.

Chief Commercial Officer at Air Peace, Nowel Ngala, explained that the airline entered a wet-lease agreement with SmartLynx because 13 of its aircraft are currently undergoing scheduled maintenance abroad. Ngala stated that to avoid service gaps, Air Peace leased aircraft from SmartLynx in a bid to support Nigerian passengers during peak travel periods.

But he lamented that the “abrupt and unjustified withdrawal of four aircraft we wet-leased from SmartLynx Airlines caused disruptions. This withdrawal was done without prior notice, a clear violation of industry standards and of the agreement between both parties.”

He, however, assured that despite these setbacks, some of its aircraft have completed maintenance and are returning to service.

Experts speak

Speaking with our correspondent over the phone, President of the Aircraft Owners and Pilots Association of Nigeria, Dr Alex Nwuba, confirmed that airlines are currently faced with capacity shortfalls but stressed that airlines are striving to bridge the gap.

He said, “You are correct that airline capacity shortfalls often contribute to higher fares during festive periods. In the case of Nigeria this season, we have seen some disruptions. For example, Air Peace lost a number of aircraft, which reduced their daily capacity by roughly 300 seats. At the same time, however, the airline has announced the return of several aircraft, which should help to fill those gaps and at least maintain current capacity levels.

“In addition, two more airlines are expected to commence operations during this period, which will further expand available seats and improve overall industry capacity. If external challenges such as security do not interfere, the industry should fare reasonably well this year.”

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Nwuba further said passengers should expect higher fares, describing the pattern as seasonal.

“That said, consumers should still expect higher fares, as this is traditionally the seasonal pattern. Demand always rises during festive periods, and prices reflect that. Nigeria, however, stands to benefit from this increased travel activity, as it supports tourism and boosts confidence in the aviation sector. All things being equal, the outlook remains positive,” he stressed.

Former Director-General of the Nigeria Civil Aviation Authority, Harold Demuren, appealed to the Federal Government to do whatever is possible to support Nigerian operators to achieve more capacity. Demuren added that if it would entail renegotiation of some Bilateral Air Service Agreements that are one-sided against Nigerian operators, the government should not hesitate.

He said, “In BASA, both parties must benefit; it should not be one-sided. The Nigerian government needs to protect the local carriers. You can’t be wrong supporting your own. You can renegotiate your BASAs. It may be difficult, but you can renegotiate.”

Industry expert, Olumide Ohunayo, described the situation as seasonal but appealed to the airlines to pay attention to airline staff so as to get the best from them in handling the passenger volume that the season brings professionally.

“This is seasonal, but I can only greet airline operators who are working at this time. However, the season comes with its attendant challenges, and airlines must pay attention to passengers and airline staff members, too. Because it is when they are well taken care of that they will also handle passengers professionally as expected,” he said.

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Business

Whatsapp to begin charging businesses per message from October 1

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Meta, the parent company of WhatsApp, will begin charging businesses for certain messages sent through the WhatsApp Business Platform from October 1, 2026.

This was disclosed in a WhatsApp Business Platform pricing update in July 2026.

The new charges will be applied to companies using the official WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer conversations at scale.

Banks, fintechs, e-commerce companies, telecoms operators, logistics firms and large retailers that rely on the platform for customer service and transactional communication are among those that could be affected.

However, the development will not affect ordinary WhatsApp users or most small businesses using the standard WhatsApp Business app on their phones.

Under the current system, when a customer sends a message to a business, a 24-hour customer service window opens. During that period, businesses can respond with free-form service messages and certain utility messages without paying Meta.

However, from October 1, Meta will begin charging businesses on a per-message basis for service messages sent during the customer service window.

Meta, in its developer documentation, said, “Effective October 1, 2026, Meta will charge on a per-message basis for all service messages, consistent with how Meta charges for template messages. These messages have not been charged since November 1, 2024.”

The company added, “Effective October 1, 2026, Meta will charge on a per-message basis for utility messages sent in response to users (within an open 24-hour customer service window). These messages have not been charged since July 1, 2025.”

Utility messages include communications such as payment confirmations, order updates and delivery notifications.

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Meta also warned businesses and Solution Providers about the need to add a payment method ahead of the new charges.

It said, “For any Solution Provider or directly-integrated businesses that does not have a payment method on file by September 30, 2026, Meta will stop delivering service messages as of when they become charged on October 1, 2026.”

For Nigerian businesses, a chargeable utility or service message is expected to cost about $0.0101 per message, equivalent to roughly ₦14 based on an exchange rate of about ₦1,340 to the dollar.

Marketing messages are considerably more expensive, at about $0.062 per message, or approximately ₦84 at the same exchange rate.

The charges are Meta’s fees and do not necessarily represent the total amount a business will pay. Companies using Business Solution Providers or third-party platforms to access the WhatsApp Business Platform may incur additional provider charges.

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FG reaffirms partnership with Taraba to unlock economic potential

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The Federal Government has reaffirmed its commitment to working with the Taraba State Government to unlock the state’s vast potential in agriculture, energy, tourism, infrastructure and mineral resources.

The Minister of Information and National Orientation, Mohammed Idris, stated this on Thursday in Jalingo at the Gala night to mark the Taraba State’s 35th anniversary and the official unveiling of the Taraba Regional Development Master Plan.

He described the newly unveiled Taraba Regional Development Master Plan as an important blueprint for sustainable growth.

Idris, who conveyed the greetings of President Bola Tinubu and the Federal Executive Council to the government and people of Taraba State, said the state’s 35th anniversary offered an opportunity not only to celebrate its progress since creation in 1991, but also to define a clear pathway for its future.

He commended Governor Agbu Kefas of Taraba for adopting a long-term development framework, saying the success of the Master Plan would ultimately depend on sustained implementation and its impact on the lives of citizens.

“The success of this Master Plan will not be measured by the ceremony at which it is unveiled, but by the roads built, businesses created, jobs generated, communities connected and lives improved,” the minister said.

Idris described Taraba as one of Nigeria’s most promising economic frontiers, with enormous opportunities in agriculture and agro-processing, livestock, hydropower, tourism, manufacturing and mineral development.

He praised the Kefas Administration for its investments in education, healthcare, infrastructure, security and economic development, particularly its policy of free and compulsory primary and secondary education.

He said the evidence was in the provision of more than N1.8 billion in 2026 to cover NECO, BECE and NABTEB examination registration for public-school students.

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The minister also highlighted the approximately 268 million dollars financing agreements signed between Taraba State and the ECOWAS Bank for Investment and Development for an integrated industrial park, 10,000 hectares of irrigated rice production and processing, and a 50-megawatt solar power plant in Jalingo.

He said the investments represented the kind of initiatives required to convert the state’s natural advantages into production, value addition, employment and sustainable economic growth.

Idris said Tinubu’s administration was complementing the state’s development drive through major federal infrastructure projects.

“These include the Gembu–Mbamnga–Yang (Lip) Road, the Bali–Serti–Gashaka–Gembu Road, interventions on the Jalingo–Mutum Biyu–Tella–Wukari corridor, as well as further work on the Mayo Selbe–Gembu, Mutum Biyu–Garba Chede and Jalingo–Numan roads.

“These are more than roads. They are investments in connectivity, trade, tourism, agriculture, security and the movement of people and goods,” he said.

The minister also reaffirmed the federal government’s commitment to harnessing Taraba’s agricultural, energy and mineral potential, including the strategic Mambilla Hydroelectric Power Project.

On security, Idris said the federal government was advancing reforms toward the establishment of State Police to bring policing closer to communities while ensuring professionalism, accountability and safeguards against abuse.

He said such a framework could be particularly beneficial to Taraba because of its vast terrain and dispersed border communities, where local knowledge, intelligence gathering and rapid response were critical to effective policing.

The minister also cited the establishment of the Nigerian Army’s 10 Division, headquartered in Jalingo, with operational responsibility for Taraba and Adamawa States, as evidence of the federal government’s commitment to strengthening security in the region.

“Security and development must go together. People cannot invest, farmers cannot move their produce, tourists cannot visit and businesses cannot grow where communities feel unsafe,” Idris said.

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He said the federal government’s economic reforms were designed to create a stronger fiscal foundation for development, noting that the removal of petrol subsidy had mobilised N15.8 trillion in additional resources for the Federation between June 2023 and December 2025.

According to him, approximately N5.4 trillion accrued to the federal government while about N10.4 trillion went to states and local governments, providing additional resources for infrastructure, education, healthcare, security and human capital development.

Idris said the federal government remained opposed to a return to the previous subsidy regime, stressing that the priority was to consolidate the gains of reform, protect vulnerable Nigerians and ensure that additional public resources translated into tangible improvements in citizens’ lives.

He emphasised that development must ultimately be people-centred, creating opportunities for young people, expanding women’s economic participation, supporting farmers and small businesses, and connecting communities to markets and public services.

The minister also pledged stronger collaboration between the Federal Ministry of Information and National Orientation and the Taraba State Ministry of Information and Re-Orientation to ensure citizens understand and embrace the objectives of the Master Plan.

“The vision contained in this Master Plan must go beyond government offices. It must reach the farmer, the entrepreneur, the student, the trader and communities across Taraba.

“This is because a plan for Taraba must ultimately be a plan owned by the people of Taraba,” he said.

Idris congratulated Kefas, the government, and the people of Taraba State on the state’s 35th anniversary, describing the occasion as both a celebration of Taraba’s history and a renewed commitment to its future.

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“35 years of history. A new blueprint for the future. And a renewed commitment to building the Taraba we want and the Nigeria we deserve,” the minister said.

In his remarks, Kefas also called for continuity in governance, acknowledging the contributions of former military administrators and elected governors to Taraba State’s development.

He said his administration was committed to building on previous achievements, correcting what needed to be corrected, completing worthy projects and opening new frontiers for future generations.

He stressed that the development of Taraba must remain bigger than any government, political party, ethnic group or individual, urging former leaders to continue contributing their experience and institutional knowledge to the peace, unity and prosperity of the state.

“Government must be a continuum. Development must be cumulative. Taraba is bigger than any government, any administration, any political party, any ethnic group, or any individual,” Kefas said.

He added that the ultimate credit for development belongs to the people of Taraba State.

Present at the event were the former Governor of Taraba State, Rev. Jolly Nyame; Secretary to the Government of Taraba State, Chief G.T. Kataps; Director-General of the Nigerian Television Authority, Salihu Dembos; and  Director-General of the Federal Radio Corporation of Nigeria, Dr Mohammed Bulama.

Others were the Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho; as well as other distinguished government officials, traditional leaders, members of the diplomatic and business communities, and other dignitaries.

NAN

Source: punchng.com

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CBN cuts T-bill rate amid N3.63tn demand

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Investors are increasingly positioning for longer-term returns in Nigeria’s fixed-income market, with the latest treasury bills auction showing an overwhelming preference for the one-year government security.

At the Central Bank of Nigeria’s (CBN) primary market auction on Wednesday, investors submitted N3.63tn for the 364-day T-bill, representing 95.9 per cent of the N3.79tn total bids received across the three maturities.

The demand came despite the CBN lowering the stop rate on the one-year instrument by 44 basis points to 17.15 per cent, from 17.59 per cent at the previous auction.

The auction results point to a significant shift in investor appetite towards longer-dated government securities, even as demand for shorter-tenor instruments remained subdued.

The CBN had offered N700bn across the three maturities, comprising N100bn each for the 91-day and 182-day bills and N500bn for the 364-day bill.

However, total subscriptions reached approximately N3.79tn, more than five times the amount offered.

The PUNCH that the 364-day instrument was the clear outlier at the auction, receiving bids equivalent to 7.26 times the amount offered.

The CBN ultimately allotted N638.19bn, exceeding the N500bn offer by N138.19bn. Despite the additional allotment, only about 17.6 per cent of total bids submitted for the instrument were accepted.

Investors quoted yields between 16.00 per cent and 19.05 per cent, but the CBN settled at 17.15 per cent, suggesting that the level of demand allowed the regulator to reject more expensive bids.

The development is significant because the CBN achieved a lower borrowing rate even after receiving exceptionally strong demand for the security.

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The contrast was stark at the shorter end of the curve. The 91-day bill attracted N103.32bn in subscriptions against N100bn offered. The CBN allotted N89.10bn at an unchanged stop rate of 16.30 per cent.

The 182-day bill performed even more weakly, attracting only N52.93bn against N100bn on offer. The CBN allotted N35.59bn, while the stop rate remained at 16.50 per cent.

Secondary-market yields for the three instruments stood above their respective auction stop rates, at 17.45 per cent for the 91-day bill, 17.05 per cent for the 182-day bill and 17.24 per cent for the 364-day bill.

According to a financial sector analyst, Jimbe Asalor, the concentration of bids in the one-year instrument suggests investors may be placing greater value on locking in relatively attractive yields over a longer period rather than repeatedly rolling over shorter-term securities.

He noted that the latest auction also demonstrates “the CBN’s ability to borrow more cheaply when demand is concentrated around a particular maturity.”

He added that by accepting N638.19bn on the 364-day bill at 17.15 per cent, the CBN borrowed above its initial offer while simultaneously cutting the rate by 44 basis points.

“The nine-basis-point difference between the auction stop rate and the 17.24 per cent secondary-market yield also indicates that the one-year segment is now trading relatively close to market expectations.”

A Lagos-based consultant economist, Chukwunonso Iheoma, said if the preference for longer-dated treasury bills persists, the development could provide further support for a gradual decline in government borrowing costs while strengthening expectations of eventual interest-rate cuts.

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Source: punchng.com

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