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Foreign Airlines May Abandon Nigeria as Trapped Funds Hit $802m

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trapped funds

By Adedapo Adesanya

There are worries in the Nigerian aviation industry as the total amount of foreign airlines’ trapped funds in the country has risen to $802 million from the $743.7 million reported less than a month ago.

The updated figure, which was provided by the International Air Transport Association (IATA), the Switzerland-based trade association of world airlines, showed a 7.8 per cent rise.

IATA warned the Nigerian government that the situation could hamper air connectivity, economic growth, and the development of the country’s aviation sector.

The Director-General of IATA, Mr Willie Walsh, made the disclosure while launching Focus Africa, a new initiative aimed at strengthening aviation’s contribution to Africa’s economic and social development.

The project will also improve connectivity, safety, and reliability for passengers and shippers.

Sounding an ominous warning, Mr Walsh said, “Airlines may be forced to reduce their service in the countries blocking funds; this is a very important issue to airlines and IATA. It is capable of affecting the growth of African aviation.”

On her part, IATA Chairperson-designate and RwandAir Chief Executive Officer, Mrs Yvone Makolo, listed Nigeria as the country with the highest blocked funds in Africa and the world.

According to her, the total amount of blocked funds in Africa is over $1.6 billion, out of which Nigeria has more than 50 per cent, at $802 million, after Algeria which is the country with the highest blocked funds in Africa.

The Regional Vice President for Africa & Middle East, IATA, Mr Kamil Al Awadhi, lamented that 66 per cent of blocked funds were in Africa.

He listed blocked funds as a big issue that could affect the Single African Air Transport Market project and hamper the growth potential of Africa’s aviation sector.

“Blocked funds is one of the biggest issues that will affect aviation. There has been a 10 per cent increase in blocked funds recently. The total amount of blocked funds is huge. This is one of the things we need to address to move forward,” the IATA VP added.

Mr Al Awadhi said IATA had had several engagements with the Nigerian government on the blocked funds, noting that the association would continue discussions with the incoming government due to be inaugurated in May.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Travel/Tourism

Trump Mulls Heavy Travel Ban on 43 Countries, Exempts Nigeria

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map of nigeria

By Adedapo Adesanya

Nigeria was exempted from a provisional list of 43 countries that the United States, under the administration of President Donald Trump, is mulling a new travel ban for their citizens.

Business Post reports that out of the 43 countries, 22 of them are in Africa but Nigeria is so far exempted.

According to reports, the draft list featured 43 countries, divided into three categories of travel restrictions – red, orange, and yellow.

The red category of countries whose citizens would be completely barred from entering the United States includes Afghanistan, Bhutan, Cuba, Iran, Libya, North Korea, Somalia, Sudan, Syria, Venezuela and Yemen.

Another 10 countries in the orange category — Belarus, Eritrea, Haiti, Laos, Myanmar, Pakistan, Russia, Sierra Leone, South Sudan and Turkmenistan — would see their visas sharply restricted.

The New York Times reported that in these cases, affluent business travelers might be allowed to enter, but not people traveling on immigrant or tourist visas.

Citizens from countries on the orange list would also have to undergo in-person interviews to receive a visa.

Another 22 countries on a yellow list would have 60 days to address US concerns or risk being moved up to one of the more stringent categories.

“The officials, who spoke on the condition of anonymity to discuss the sensitive internal deliberations, cautioned that the list had been developed by the State Department several weeks ago, and that changes were likely by the time it reached the White House,” the New York Times said.

This is reminiscent of moves carried out by President Trump in his first stint as president, when he banned some Muslim majority counties like Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen — which ignited international outrage and led to domestic court rulings against it.

Iraq and Sudan were dropped from the list, but in 2018 the Supreme Court upheld a later version of the ban for the other nations — as well as North Korea and Venezuela.

Already, the US President has frozen the US refugee admission programme and almost all foreign aid.

Provisional Ban List 
Red list
Countries whose citizens would be completely barred from entering the United States include:

1. Afghanistan

2. Bhutan.

3. Cuba.

4. Iran

5. Libya

6. North Korea

7. Somalia

8. Sudan

9. Syria

10. Venezuela

11. Yemen

Orange list
Citizens from countries on the orange list would also have to undergo in-person interviews to receive a visa. These countries include:

12. Belarus
13. Eritrea
14. Haiti
15. Laos
16. Myanmar
17. Pakistan
18. Russia
19. Sierra Leone
20. South Sudan
21. Turkmenistan

Yellow List
They would have 60 days to address US concerns or risk being moved up to one of the more stringent categories. The following countries fall into that category:

22. Angola
23. Antigua and Barbuda
24. Benin
25. Burkina Faso
26. Cambodia
27. Cameroon
28. Cape Verde
29. Chad
30. Republic of Congo
31. Democratic Republic of Congo
32. Dominica
33. Equatorial Guinea
34. Gambia
35. Liberia
36. Malawi
37. Mali
38. Mauritania
39. St. Kitts and Nevis
40. St. Lucia
41. São Tomé and Príncipe
42. Vanuatu
43. Zimbabwe.

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End of Greece’s Golden Visa Could Curb Increasing Migrant Population

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Greece Golden Visa

The latest analysis from Astons, reveals that Greece has seen a 14.6% increase in migrants settlers over the past 10 years, with almost 25,000 Americans settling in the Mediterranean paradise in 2024 alone. However, this trend could soon reverse, with rumours that Greece is set to call time on its Golden Visa offering.

Astons has analysed International Migrant data from the United Nations* and found that, in 2024, more than 1.4m migrants settled in Greece, marking a ten-year increase of 14.6% since 2015.

The largest proportion of migrants arrived from the European continent (913,652), followed by Asia (372,146), Africa (68,690), and North America (38,416).

On a national level, Greece welcomed the largest number of people from Albania (474,441), followed by Germany (123,912), Georgia (90,365), Bulgaria (90,365), and Russia (78,992).

Meanwhile, 24,748 migrants resettled in Greece from the USA, and 19,156 arrived from the UK, marking a ten-year increase of 8.6% in both instances.

Many migrants looking to settle in Greece opt for the nation’s Golden Visa as a pathway to gaining residency and figures from Astons show that an estimated 8,837 applications were made in 2024 – the highest number seen since 2019.

However, this could be about to change, as Astons has seen a sharp increase in activity so far this year, driven by investor urgency around rumours that Greece is set to withdraw its Golden Visa offering.

Citizenship, residence permit, and real estate investment expert for Astons, Alena Lesina, said, “Greece has become one of Europe’s most in-demand destinations for migrants from all over the world, but residency in the country is certainly most desirable for the ultra-wealthy due to its investment potential and favourable expat tax rules, which explains why almost 25,000 Americans have chosen to settle there in the past year alone.

“There are some rumors, but no official confirmation. However, we understand that the situation in any country with a Golden Visa program can always change. The European Commission is putting significant pressure on countries offering Golden Visas, and internally, there is growing tension related to the need to address housing issues.

“History shows a clear trend – Ireland’s Golden Visa was discontinued, Spain’s program will officially end on April 3 this year. Last year, Portugal removed the real estate investment option from its program. In 2022, the UK also shut down its Tier 1 investor program.

“For now, Greece is maintaining its program and we can reasonably expect that it will remain in place for at least another year. However, it’s best not to delay making a decision for too long in case they decision is made to call time on Greece’s Golden visa.”

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Mutfwang Renews Support for Strom Infrastructure’s Revamp of Hill Station Resort

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Hill Station Resort

The Governor of Plateau State, Mr Caleb Mutfwang, has assured full government support for the N8.5 billion Hill Station Resort revitalization project, embarked on by Hillside Hospitality Limited, an investee company of Strom Infrastructure Investments and Management Limited. The renewed commitment came during a high-level stakeholder engagement meeting aimed at accelerating the historic resort’s transformation.

Speaking through the Secretary to the State Government, in Jos, Plateau State, on Monday, Mr Samuel Jatau, Governor Mutfwang emphasized the project’s significance to Plateau’s development agenda.

“The people of Plateau are diligent, hardworking, and committed. We will support and patronise this development to ensure its success,” he said.

The ambitious project, set to commence construction in March 2025, represents a strategic partnership between the Plateau State Government and Hillside Hospitality Limited. Following the signing of the Heads of Terms Agreement in July 2024, the initiative aims to restore the 1938 structure while introducing modern amenities and luxury facilities.

Speaking on the project’s vision, the Director of Hillside Hospitality Limited, Mr Kolapo Joseph, described the Hill Station project as a groundbreaking initiative that seeks to transform hospitality and tourism in Plateau State.

“This project is about more than just revitalisation, it is a dedicated effort to honour Hill Station’s rich heritage while introducing world-class hospitality standards.

“Our vision is to create a destination that seamlessly integrates luxury, culture, and nature, ensuring an exceptional experience for visitors in the heart of Jos.

“We recognise that Plateau State holds immense potential as a hospitality hub, and we are committed to working closely with all stakeholders to ensure this transformation drives economic growth, generates employment, and instils a renewed sense of pride in the community.

“Through collaboration and strategic investment, we aim to develop Hill Station Resort into a landmark destination that reflects the very best of Nigerian tourism,” he stated.

Mr Joseph expressed gratitude for the continued support from the Plateau State Government and private sector partners, adding: “This is not just an investment in infrastructure; it is an investment in Plateau’s future. We are creating a resort that will attract business and leisure travelers alike, unlocking new opportunities for the local economy while preserving the unique identity of this historic site.

“With the right partnerships, we will position Plateau State as a premier global tourism destination, one that showcases its rich cultural heritage and natural beauty to the world.”

In his remarks, another Director of Hillside Hospitality, Mr Hakeem Condotti, highlighted Strom Infrastructure’s deep connection to Plateau State through its involvement with NESCO Nigeria.

“This investment demonstrates our commitment to preserving and enhancing historical landmarks while driving economic growth in the region,” he said.

The revitalized resort, scheduled for commissioning in the fourth quarter of 2025, will feature state-of-the-art conference facilities, premium accommodations, and leisure amenities, positioning Jos as a premier destination for business and leisure travel.

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