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Uganda Airlines starts direct routes from Nigeria

Published

3 months ago

September 16, 2024

Uganda Airlines has begun offering direct service to Entebbe, located in central Uganda, from Abuja, Nigeria’s capital. According to the airline, the new route should improve connectivity, shorten travel times, increase trade and tourism between the two nations, and give travellers a quick and convenient way to get between West and East Africa.

The airline announced this at the recent inauguration held at the Nnamdi Azikiwe International Airport in Abuja.

Ambassador Nelson Ocheger, the Ugandan High Commissioner to Nigeria, emphasised the significance of the enhanced connectivity.

“I believe that Nigerians and other passengers will be impacted in a variety of ways by this flight and the ones that will follow.

“First and foremost, it is going to reduce the time spent to move from Abuja to Entebbe. The ministers mentioned that it took them three and a half hours to move from Entebbe to Abuja. Secondly, it is going to reduce the cost of transport,” he explained.

Ocheger went on to say that the direct flight would make it easier for cargo to transit between the two nations, boosting trade and commercial expansion.

“The volume of trade will certainly increase, and when the volume of trade increases, the people who produce those goods and the people who are providing those services will grow their businesses. They will employ more people, and those employed will have incomes in their pockets,” he added.

The Ugandan ambassador addressed worries about possible drug and people trafficking and stated that both nations have strong protocols in place.

“The Federal Republic of Nigeria has a robust system to identify wolves amongst the sheep, and the same with Uganda. Given the systems that exist in both countries, this is something that will be a work in progress. We can identify wrong elements who are moving from one country to another,” he assured.

Adedayo Olawuyi, the Chief Commercial Officer of Uganda Airlines, also disclosed the inaugural fares, which will be available for the next several months.

“As of today, tickets between Abuja and Entebbe in economy class will cost you just $600, and in business class, $1,665,” he stated.

Hon. Fred Byamukana, Uganda’s Minister of State for Transport, commended the friendly ties that have existed between Nigeria and Uganda for a long time.

“We have been living as brothers and sisters. This bridge we have built is one to maintain our friendship. In terms of business, this helps you to grow economically,” said Byamukana, underscoring the economic benefits of the new flight route.

Hassan Etibunu, the director of the Ministry of Aviation, continued, saying that both Uganda and Nigeria would benefit from the increased airline connectivity. Travelling to Uganda or East Africa used to be difficult, but this flight will make the trip shorter and enable smooth contact between the two countries.

Etibunu underlined that the direct flight will increase commerce opportunities by lowering freight costs and simplifying the process.

Related Topics:Abuja Featured Nigeria Uganda Airlines

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Moroccan annual inflation rises to 0.8% in November

Published

2 hours 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

1 day 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.”