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Air Peace to open flow as Israel agrees non-stop flights from Nigeria

Published

2 years ago

March 27, 2023

The ministry of transport in Israel has agreed on a deal that will allow Nigerian airlines non-stop flights between the countries to begin.

The deal, which is the first time of such will kick off next month according to Israel’s transport minister

Subject to parliament approval, the agreement will let carriers from the two countries operate flights between Tel Aviv and cities in Nigeria, like Lagos and Abuja.

According to the ministry said, It will facilitate a smoother pilgrimage for Christians to the Holy Land. The trip currently requires a stopover, usually in Turkey or Ethiopia.

Israeli Transport Minister Miri Regev said that Nigeria “maintains close ties with Israel in a wide variety of fields, alongside heavy traffic of pilgrims coming to Israel to visit the holy places in Christianity.”

Launching direct flights, she said, “will contribute to the strengthening of the business and cultural ties between the nations and between the governments.”

As a highly religious country, Nigerians are big on pilgrimage. In 2022, the Nigeria Christian Pilgrims Commission (NCPC) said at least 10,000 faithful travelled to Israel for religious purposes.

Nigeria’s Air Peace will be the first airline to fly directly, operating twice weekly flights beginning April 20, the ministry said.

Relations between Israel and Nigeria first established diplomatic, cultural, and economic ties officially in 1960 after Nigerian independence.

Israel contributed significantly to the development of Nigeria as well as other Sub-Saharan African countries in the 1960’s and 1970’s by sending Israeli experts and volunteers to modernize Africa’s agriculture and teach African farmers sustainable farming techniques.

Related Topics:Air Peace Featured Israel Nigeria

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Moroccan annual inflation rises to 0.8% in November

Published

1 day ago

December 21, 2024

Ifeoluwa Dada

Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from 0.7% in October to 0.8% in November.

Monthly, consumer prices decreased by 0.2% from October.

The primary driver of inflation, food costs, grew by 0.8% compared to the previous year, while non-food inflation climbed by 0.7%. Core inflation, which does not include more erratic items like food, increased 2.6% annually and 0.2% monthly.

According to the central bank, inflation is expected to average 1% this year, down from 6.1% last year.

Despite the Al-Haouz earthquake, a spike in inflation, and worldwide economic challenges, Morocco’s GDP grew by 3.4% in 2023.

A recovery in tourism, robust industrial exports, and rising private consumption—all bolstered by prudent macroeconomic policies—were the main drivers of growth.

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Nigeria’s $42bn foreign reserves enough for 9 months’ imports— Central Bank

Published

2 days ago

December 20, 2024

Ifeoluwa Dada

According to Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), the nation’s $42.01 billion in foreign reserves can cover imports of goods and services for almost nine months.

Cardoso promised Nigerians improved economic fortunes in 2025 while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions yesterday in Abuja at the presentation of the performance index report.

Cardoso stated: “External Reserves rose from $ 38.35 billion it was on September 30, 2024, to $ 42.01 billion as of December 12, 2024”.

He clarified that third-party receipts in Q3 2024 and revenues from taxes connected to crude oil were the main drivers of the rise in foreign reserves during the specified time.

“We saw remarkable improvements in our trade balance and maintained a current account surplus,” he added.

“Our external reserves level can finance over 9.09 months of import of goods and services or 13.91 months only, higher than the international benchmark of 3.0 months and a robust buffer against shocks”.

On cash shortage, the CBN boss reiterated the N150 million fine against any branch of banks caught illegally distributing new Naira notes to currency hawkers and unscrupulous elements and said the Nigerian economy will improve in 2025 through policies and measures.

He predicted a stronger economic future: “Despite our economy’s challenges, there are clear reasons for optimism.

“The gradual stabilization of the forex market, ongoing banking sector recapitalization, and positive growth trends in key sectors, especially the services sector, indicate a path toward recovery and stability.”