IMO BREAKING NEWS BLOG

African airlines recorded a 5.7% year-on-year decline in air cargo demand in February 2025, with capacity decreasing by 0.6% in the same period. Capacity, measured in available cargo tonne-kilometers (ACTK), dropped by 0.4%, although international operations saw a 1.1% increase.

The International Air Transport Association (IATA) report showed that global capacity decreased by 0.4%, with international operations showing a slight increase of 0.4% in demand. Globally, air cargo demand fell by 0.1% compared to February 2024, marking the first decline since mid-2023. “African airlines saw a 5.7% year-on-year decrease in demand for air cargo in February. Capacity decreased by 0.6% year-on-year,” the report read in part.

It added, “Total demand, measured in cargo tonne-kilometers (CTK), declined by 0.1% compared to February 2024 levels (+0.4% for international operations). This marks the first decline since mid-2023. 

“Capacity, measured in available cargo tonne-kilometers (ACTK), decreased by 0.4% compared to February 2024 (+1.1% for international operations).” African airlines’ performance mirrors broader market trends, with air cargo demand fluctuating across regions.

IATA’s Director General, Willie Walsh, attributed the global decline to the unique circumstances of February 2024, which benefited from the leap year, Chinese New Year, sea lane disruptions, and a surge in e-commerce. Additionally, the global cargo market witnessed significant shifts. Trade lanes such as Europe-Asia and Transatlantic routes expanded, while others, including Middle East-Asia, African connections, and certain European routes, saw a decline in demand.

The report highlighted regional performance trends in global air travel demand. Airlines in the Asia-Pacific region led growth with a 5.1% increase, while North American carriers experienced a slight dip of 0.4%. 

The Minority Caucus of the House of Representatives has strongly condemned the recent killings of 16 Nigerians, primarily from the northern region, in Edo State. The attack, reportedly carried out by a group of unidentified assailants, has sparked widespread outrage and renewed concerns over national security. In a statement, the caucus expressed shock and grief over what it described as a "barbaric murder" of innocent citizens. The lawmakers warned that allowing such heinous crimes to persist without firm intervention from the federal government could jeopardize national unity and peace.

“We find such brutal killings of innocent Nigerians in any part of the country by lawless mobs very reprehensible. If these actions are not put in check, they could threaten the peace and unity of the nation,” the statement read. The Minority Caucus particularly condemned the attack on northern travelers, urging all Nigerians to shun mob violence and instead rely on law enforcement agencies to address grievances. “We implore all Nigerians never to resort to jungle justice but to always engage lawful authorities whenever they notice any issue of concern. We are a nation governed by laws, and our security agencies are always available to address the concerns of citizens,” the caucus emphasized.

Given the heightened tensions following the attack, the caucus has called on President Bola Tinubu to direct security agencies to launch an urgent investigation and ensure that those responsible for the killings face justice. They further demanded adequate compensation for the affected families as part of efforts to assuage their loss. “We call on the President and Commander in Chief to take immediate action by directing security agencies to investigate and bring all perpetrators to book. This is essential to prevent further occurrences of such tragic incidents,” the statement continued.

In light of the distressing situation, the caucus urged Nigerians to remain calm, law-abiding, and patient while authorities address the matter. They reassured the victims’ families of their unwavering commitment to securing justice. “We express our heartfelt sympathies and condolences to the bereaved families. The Minority Caucus of the House of Representatives will remain vigilant in ensuring that justice is served,” the lawmakers stated.

The statement was signed by Hon. Kingsley O. Chinda, Minority Leader; Hon. Ali Isa JC, PhD, Minority Whip; Hon. Aliyu Madaki, Deputy Minority Leader; and other leaders of the Minority Caucus. 

Operatives of the Nigeria Security and Civil Defence Corps (NSCDC) have impounded a long-container truck loaded with 70,000 litres of stolen crude oil in Port Harcourt, Rivers State, in a major crackdown on oil theft. The truck, which had an in-built tank for illicit petroleum transport, was intercepted around Eleme junction flyover in Elelenwo following an intelligence tip-off.

However, the suspects abandoned the vehicle and fled upon sighting the operatives. Chief Superintendent of Corps, Afolabi Babawale, the NSCDC’s National Public Relations Officer, said the agency remains committed to dismantling oil theft networks in the country. Babawale explained that the operation was carried out by the NSCDC Commandant General’s Special Intelligence Squad.

“The truck was sighted while on transit, and our operatives swiftly moved in to impound it. This is a major breakthrough in our ongoing fight against economic sabotage,” Babawale stated. According to him, the red-head, navy-blue container truck with registration number AGL574XY was illegally siphoning crude from vandalized wellheads and destroyed pipelines.

“As our operatives approached, the conveyors of the truck abandoned it and fled the scene. We have launched a full-scale investigation to track down the syndicate behind this illegal operation.” He further revealed that the stolen crude oil and the truck have been confiscated and will undergo legal forfeiture.

“At the conclusion of our investigation, we will file for the forfeiture of the vehicle and its contents in a court of competent jurisdiction. The proceeds will be remitted to the Proceeds of Crime Account,” he added. 

Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, has expressed deep sympathy for traders and property owners affected by the recent fire outbreak at Onitsha Main Market, Anambra State. The inferno, which broke out over the weekend, reportedly started in one of the market’s buildings before rapidly spreading to adjacent structures, causing significant losses to traders and businesses.

In a statement, Hon. Kalu urged security agencies to conduct a thorough investigation into the incident to determine the cause and implement measures to prevent future occurrences. He commended the swift response of the fire service and individuals who helped contain the blaze, emphasizing the importance of adherence to safety regulations and precautionary measures by traders and residents.

While expressing relief that no lives were lost, the Deputy Speaker called on the National Emergency Management Agency (NEMA) and other relevant agencies to provide immediate relief materials to support the victims and cushion the impact of their losses. 

The House of Representatives Public Accounts Committee (PAC) has made another major breakthrough in its ongoing investigation into financial irregularities in the oil and gas sector, recovering an additional $14.2 million (₦21.4 billion) from four companies. This brings the total amount reclaimed by the committee to $33.44 million (₦50.1 billion) so far.

Chairman of the Committee, Hon. Bamidele Salam, attributed the success to the strong leadership and commitment to accountability by Speaker of the House, Hon. Abbas Tajudeen. He emphasized that the Speaker’s unwavering support has allowed the committee to operate independently and effectively in safeguarding public resources.

According to the PAC, the latest financial recoveries are broken down as follows:

Platform Petroleum Ltd: $1.9 million (₦2.9 billion)

Midwestern Oil and Gas Ltd: $1.578 million (₦2.3 billion)

Universal Energy: $523,845 (₦785.7 million)

Aradel Energy Ltd: $10.3 million (₦15.5 billion)

Hon. Salam reaffirmed the committee’s commitment to fiscal transparency and warned that additional measures would be taken against defaulting companies.

ULTIMATUM FOR FURTHER RECOVERIES:

The PAC has issued a 20-day deadline for four more companies to remit outstanding payments totaling $23.2 million (₦34.8 billion). The affected firms and their required payments are:

Total Energies: $2 million within 7 days

Seplat Energies (SPDC): $6.036 million and ₦1.5 billion within 7 days

Aradel Energy Ltd: $12.1 million within 7 days

Network Exploration: $3.1 million within 7 days

Failure to comply within the stipulated timeframe could result in public sanctions, including the naming of defaulters in national newspapers.

In a related development, several companies have failed to respond to committee invitations and are now under increased scrutiny. These companies include:

Frontier Oil and Gas

Conoil Producing

Walter Smith Petrochemical

Bilton

Energia Ltd

Aiteo Petroleum Ltd

Pillar Oil Ltd

Additionally, First E & P Oil Company has been directed to reconcile an outstanding balance of $90 million with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and is scheduled to appear before the Committee on April 16, 2025, for further review.

ONGOING INVESTIGATIONS:

The PAC’s investigation is part of a broader push to ensure financial accountability in the oil and gas sector, particularly in response to findings from the 2021 Auditor General’s report, which revealed over ₦10 trillion in outstanding payments to the Federation Account.

Hon. Salam vowed that the era of financial mismanagement in the sector is nearing its end.

“We are determined to recover every kobo owed to the Nigerian people and ensure that public funds are managed with integrity,” he stated. As the PAC continues its investigations and public hearings, further updates on recovered funds and enforcement actions will be provided. The House of Representatives remains steadfast in its commitment to upholding transparency, accountability, and financial discipline in Nigeria’s oil and gas industry. 

Troops of the 6 Division, Nigerian Army, have arrested 39 suspected oil thieves and dismantled 18 illegal refining sites in a sustained crackdown against crude oil theft and related crimes in the Niger Delta region. The operation was conducted between March 24 and 30, 2025, in collaboration with sister security agencies, according to the Acting Deputy Director, 6 Division Army Public Relations, Lieutenant Colonel Danjuma Jonah Danjuma.

In a statement, Danjuma said security forces also confiscated over 60,000 litres of stolen petroleum products and dismantled illegal refining infrastructure. He said that in Rivers State, troops intercepted an inbuilt fabricated twin tank containing 18,000 litres of stolen crude along Ochokocho Road in Etche Local Government Area. Additionally, a MAN Diesel container truck with registration number LXA 44 XA was seized while attempting to smuggle stolen petroleum products concealed in bags of sawdust. The suspects abandoned the vehicle and fled on sighting security forces.

According to him, further anti-oil theft operations along the Imo River led to the dismantling of several illegal refining sites, with over 15,000 litres of stolen products recovered. The crackdown extended to Rumuekpe Forest in Ahoada East LGA, where two refining sites were destroyed, and 2,800 litres of stolen crude oil were confiscated. Similar operations were carried out in Ebocha, Omoku (Ogba/Egbema/Ndoni LGA), and Jelikri Creek in the Degema Local Government Area, where illegal refining sites, drum ovens, hoses, and metal pipes were destroyed.

The Army statement also highlighted significant breakthroughs in Bayelsa State, particularly in Yenagoa LGA, where two illegal refining sites containing over 8,000 litres of stolen crude in drums and sacks were dismantled. In Southern Ijaw LGA, troops uncovered another illegal operation, recovering 1,500 litres of crude oil and 300 litres of illegally refined Automotive Gas Oil (AGO).