Travel/Tourism
Ongoing Renovation, Public Water Shortage Affecting Our Business—Capital Hotels
By Adedapo Adesanya
The management of Capital Hotels Plc, owners of Sheraton Abuja Hotel, has assured shareholders of the hospitality company that efforts would be made to create better value for them by ensuring a better market presence for the business despite the huge challenging operational environment.
Chairman of the interim board, Mr Anthony Idigbe, gave this assurance on Monday at the company’s ‘Facts Behind the Figure’ held at the Nigerian Stock Exchange (NSE) in Lagos. The team was also honoured yesterday by the NSE with the closing gong ceremony.
Addressing investment analysts at the event on Monday, including Business Post, Mr Idigbe said out of the 575 guest rooms the firm’s flagship hotel, Sheraton Abuja Hotel, has, 266 are presently undergoing renovation, but 97 rooms should be completed in the first quarter of 2020. He said these will include state-of-the-art club rooms and suites.
He express optimism that when these 97 rooms are released for customers’ use early next year, they should improve the “market share [of the company], enhance revenue [and] boost [its] presence.”
According to Mr Idigbe, “As you all know, Capital Hotels has been undergoing some transformation, we are happy we have a cohesive board for corporate governance and we have adopted many policies so as to be able to focus the components on the business.
“The result is that in the last two years, we have been able to declare profits and we hope to continue in that fashion. We have ambition to be the largest provider of leisure and business spaces in Nigeria.
“We are working very hard on refurbishing our rooms, banqueting and conferencing facilities. Also, we have returned our marketing plans and strategy and we hope to continue sustaining the current performance and even exceeding it.”
An Executive Director of Capital Hotels, Mr Robert Itawa, during his presentation, explained that the renovation was part of efforts to turnaround fortunes of the company, following decisions by the new management to commence an upgrade of some facilities in the hotel.
He assured investors that the company will improve its service delivery so as to result into more return of investment for shareholders of the hospitality firm, which was readmitted on the stock exchange in 2008.
However, Mr Itawa pointed out some factors having negative impact of the company’s numbers, which include a high operating cost. He explained that the organisation had to book the cost of implication of legacy staff schemes following an agreement with the unions. He added that the cost is expected to spread over a three-year period.
“For the past three years, this legacy cost alone is about N300 million. We have paid N110 million this year and from 2010 till date, cost associated with legacy system alone is N2.8 billion.
”That is why we have entered into negotiations with the union because we felt if we do not do something, the hotel will die and people will not get their money.
“In the next one year, we would have completed the payment of whatever that is outstanding. We have been paying massively every year since that period without fail and that is why we are experiencing industrial harmony,” Mr Itawa informed analysts present at the meeting.
Mentioning other challenges facing Capital Hotels, Mr Itawa said they include kidnapping, insurgency, institutional failure, poor transport system, power outage, public water shortage, integrity shortage amongst others.
Giving an outlook for the company in the future, he said that the firm may consider enhancing its topline by 60 percent mainly from the newly renovated 97 rooms.
While fielding questions from participants yesterday on the tenure of the present interim team, Chairman of the board, Mr Anthony Idigbe, assured that the board would ensure to complete its mandate within the time frame and not stay longer than necessary.
In his words, “I want to assure you that some of us will like to exit as quickly as possible and as soon as necessary. We continue to see it as a national service to perform this role.
“We are very proud of the work we have done so far, but be assured that we will not stay a minute longer than necessary.”
“We are happy that by the first quarter of next year, substantial progress would have been made in the decision process. The Securities and Exchange Commission (SEC) is going to ensure that rights of fair hearing are not breached. The process is very important. We are trying to get a solution that would be sustainable,” Mr Idigbe added.
SEC had on May 4, 2017, dissolved the former board of directors and appointed an interim board led by Mr Anthony Idigbe. The action was taken to protect investors of the company as well as integrity of the capital market and to restore the lost fortunes of the company in the shortest time possible.
The new interim board was mandated to oversee the conduct of a forensic investigation into the affairs of the company, considering the allegations of unauthorised sale of shares and diversion of proceeds from the sale of shares, amongst others.
Travel/Tourism
Tinubu Suspends Cashless Airport Toll Gate Payment System
By Aduragbemi Omiyale
The cashless airport toll gate payment system introduced by the Federal Airports Authority of Nigeria (FAAN) has been suspended by President Bola Tinubu.
At the Federal Executive Council (FEC) meeting held on Wednesday in Abuja, Mr Tinubu directed the agency to immediately return to the status quo, pending the development of a more efficient system.
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, who announced the suspension after the FEC meeting today, said the action followed gridlock that trailed the new system, which caused passengers to miss their flights.
FAAN had commenced the cashless payment system for airport toll gates across the country in a bid to block revenue leakages and adopt an electronic payment system instead of cash.
But this policy caused traffic gridlock at several airports, especially those in Lagos and Abuja.
“Mr President was very concerned about the welfare of Nigerians and the fact that most Nigerians were losing their flights, missing their flights.
“So, Mr President, out of empathy, directed today that we should suspend the present system because it creates a lot of gridlock, and Nigerians are suffering as a result of it,” Mr Keyamo informed newsmen.
“The major reason why Mr President took this decision is to eliminate the present gridlock that we are experiencing, especially at both the Lagos and Abuja toll gates leading to the airport.
“That’s the major reason, not that the President is happy with the cash system,” he added.
The Minister further said the President directed stakeholders to “go back and, if possible, even engage the private sector to ensure that we establish an electronic system by which we can collect these revenues for the federal government at the gates, to the extent that it will not create the gridlock that we are having right now.”
“We are going to do a hybrid system whereby we can collect cash temporarily and, of course, use the cards that they have collected temporarily for now,” Mr Keyamo added.
Travel/Tourism
Middle East Tension: Nigeria Halts Pilgrimages to Israel
By Adedapo Adesanya
The Nigeria Christian Pilgrim Commission (NCPC) has suspended pilgrimages to Israel and all other Middle East nations owing to the escalation of tensions in the Gulf region.
The Executive Secretary of NCPC, Bishop Stephen Adegbite, said during a press briefing in Lagos on Tuesday that every pilgrimage of the commission, as well as of the private pilgrimage operators, has been suspended until security in Israel and all the Middle East returns to normalcy.
Bishop Adegbite also assured that the over 500 pilgrims that made up the last batch of the 2025 pilgrimage have safely landed in Nigeria on Tuesday.
Recall that the United States and Israel have carried out waves of airstrikes across Iran, and Iran has retaliated with drone and missile attacks against US-aligned countries across the Middle East.
The campaign has killed several of Iran’s top military and political leaders, including the supreme leader, Ayatollah Ali Khamenei.
Iran retaliated the death of its supreme leader by targeting US military assets in several Gulf countries, with missiles reportedly striking sites in Bahrain, Qatar, Kuwait, and the United Arab Emirates (UAE).
The US military has acknowledged the deaths of six service members, while the Iranian Red Crescent Society said more than 500 people have been killed in the country.
This development has made the region unstable and puts Nigerians making pilgrimage to the Middle East at risk.
Travel/Tourism
Festive Travel Surge: FCCPC Flags Fare Manipulation by Airlines
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) says its investigation uncovered how airlines manipulated flight fares and fixed prices arbitrarily during the last Christmas and New Year’s holidays.
The findings, contained in an interim report released on Thursday by the commission’s department of surveillance and investigations, compared domestic airline pricing from the December 2025 festive period with post-peak January 2026 fare levels.
The FCCPC, in a statement signed by its director of corporate affairs, Mr Ondaje Ijagwu, said it established cases of price fixing by local airlines, documented abuse during the festive season, and would soon begin a probe of foreign airlines, following its ongoing country-wide investigation, which was announced earlier in January.
“A review undertaken by the Federal Competition and Consumer Protection Commission (FCCPC) has uncovered patterns of price manipulation perpetrated by some local airlines during the last festive season. The forensic exercise benefitted from data collated by the commission from airlines operating local routes in the country,” the report said.
The report compares domestic airline pricing from the December 2025 festive period with post-peak January 2026 fare levels.
The FCCPC’s preliminary analysis indicated that fares recorded during the December peak period were materially higher than those observed in the post-peak period across several routes despite relative stability in critical operating variables such as fuel price, government taxes and foreign exchange.
“The differences observed in fares therefore appear to reflect airlines’ arbitrary pricing decisions, including yield management and capacity allocation, rather than any variation in regulatory fees,” the report said.
It also noted that route-level analysis showed that higher fares coincided with periods of reduced seat availability during predictable seasonal demand peaks. On some high-density routes, peak fares were clustered within relatively narrow ranges across several operators.
It noted that on certain corridors, such as Abuja-Port Harcourt, peak fares were several times higher than corresponding post-peak levels. “On selected routes, the difference in the price of a single ticket reached approximately N405,000. Median fares across the sampled routes also rose markedly during the festive window when compared with post-peak benchmarks,” it said.
The report identified the relevance of Sections 59, 72, 107, 108, 124 and 127 of the Federal Competition and Consumer Protection Act 2018, which address the prohibition of agreements in restraint of competition, the prohibition of abuse of a dominant position, the offence of price-fixing, conspiracy to commit offences under the Act, the right to fair dealings, and the prohibition of unfair, unreasonable or unjust contract terms.
The FCCPC, however, recognised that seasonal demand pressures, scheduling constraints and fleet utilisation might also affect pricing during the peak travel period. It added that these actors remain under consideration as part of the commission’s ongoing review.
Commenting on the release of the interim report, the executive vice chairman and chief executive officer of the FCCPC, Tunji Bello, said the review was part of the commission’s statutory responsibility to promote competitive markets and safeguard consumers.
“This assessment is intended to provide clarity on pricing behaviour during predictable peak travel periods. The Commission’s role is not to disrupt legitimate commercial activity, but to ensure that market outcomes remain consistent with competition and consumer protection principles under the law,” Mr Bello said.
He noted that the commission was conducting further structural and route-level analysis before reaching any conclusions.
“It is important to emphasise that this is an interim report. Our next action will be dictated by the full facts established at the end of the review exercise. Then, the Commission will decide whether any regulatory guidance, engagement or enforcement steps are necessary, strictly in accordance with the law,” he said.
Bello further announced that foreign airlines would come under investigation by the FCCPC once the ongoing review of local airlines was concluded.
He noted that the probe of the foreign airlines would be in view of widespread complaints of exploitative fares they allegedly charge Nigerians on certain routes compared to fares in neighbouring countries of equal distance.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn










