Business
JUST IN: Minister of Aviation, Festus Keyamo Reacts to alleged safety violations by Airpeace
Hon. Minister of Aviation and Aerospace Development, Festus Keyamo has reacted to the Alleged safety violations by Airpeace Alat Gatwick Airport, United Kingdom
His statement reads:
My attention has been drawn to recent media publications citing some issues allegedly relating to possible safety violations at the Gatwick Airport by Airpeace Airlines raised by Safety inspectors of the United Kingdom Civil Aviation Authority. We want to re-iterate that Airpeace Airlines is the Nigerian flag carrier designated on the London route and as such enjoys the full backing and support of the Nigerian Government in its operation of that route.
I have been adequately and reliably briefed on the progress made thus far on this issue by the Acting Director General of the Nigerian Civil Aviation Authority (NCAA). I am informed that the safety issues raised had since been adequately addressed by the Management of Air Peace and promptly closed to the satisfaction of the UK authorities.
I wish to state categorically that the Federal Government has full confidence in the continued safety of the operations of all Nigerian flag carriers designated on different international routes, including Air Peace and will continue to support and nudge them forward in pursuit of world class operational excellence.
For the avoidance of doubt, the Federal Government of Nigeria has put its full weight and might behind all the local airlines designated on international routes in their endeavours in prosecuting these operations and shall provide all the necessary assistance and cooperation to ensure their success. Air Peace is no exception in this regard.
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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