Nigeria to recover $13.6mn from international airlines

Nigeria’s House of Representatives has given the Federal Airports Authority of Nigeria (FAAN) two weeks to recover more than NGN18.98 billion naira (USD13.6 million) that foreign airlines owe to the government, according to multiple news reports.

The ultimatum was issued by the House Committee on Finance during a revenue monitoring session covering the 2023-2025 fiscal years, aimed at strengthening accountability among government agencies, as reported by newspapers such as Leadership, Vanguard, Daily Trust, and Punch.

They reported that the committee chairman, James Abiodun Faleke, had expressed concern that several international carriers had allegedly accumulated large debts for airport services despite a two-week payment deadline.

FAAN CEO Olubunmi Oluwaseun Kuku told lawmakers that the outstanding debt reflects service charges processed through the IATA Clearing House settlement platform and includes both current and overdue balances.

According to Kuku, airlines with significant outstanding payments include Qatar Airways and Lufthansa, each owing about NGN1.5 billion (USD1.1 million) and Virgin Atlantic with about NGN1.35 billion (USD970,000). KLM Royal Dutch Airlines, EgyptAir, and Ethiopian Airlines allegedly each owe more than NGN1 billion (USD718,000) in various charges.

Other airlines listed among the debtors include British Airways, Air France, Royal Air Maroc, Turkish Airlines, and Africa World Airlines, with debts ranging from NGN700 million (USD502,000) to NGN1 billion.

ch-aviation has reached out to IATA and each of the airlines for comment. The latest IATA ICH membership list includes all the above carriers, while only two from Nigeria, Air Peace and Overland Airways, are included.

A Virgin Atlantic spokesperson said: "We’re working closely with our partners at FAAN to ensure any outstanding payments are resolved in line with agreed processes."

Two-week window

According to the reports, the Nigerian lawmakers questioned why airlines were allowed to exceed the two-week payment window, with some debts reportedly exceeding 30 days, 90 days, or more than a year. They also asked whether penalties or interest were imposed on overdue payments and why airlines with longstanding debts are still allowed to operate in Nigeria.

Kuku said that international airline payments are processed through the global clearing system managed by IATA, which can sometimes delay settlements. She added that FAAN monitors outstanding balances and increases engagement with airlines once debts exceed 30 days, with stricter measures after 90 days.

She also claimed that FAAN had grounded some airlines that failed to meet payment obligations, particularly domestic carriers that do not operate under the same global credit arrangements.

Despite the explanation, the airport authority was told to recover the debts within two weeks and submit documentation on all debtor airlines. The committee warned that airlines could be summoned to appear before the House if the debts remain unpaid. "We need every kobo that belongs to this country," Faleke said.

Cleared funds

The situation reverses the conundrum international airlines serving Nigeria faced in recent years when the country topped the list of states worldwide blocking the repatriation of airline revenues in US dollars. At its peak in June 2023, Nigeria's blocked funds amounted to USD850 million, resulting in some airlines reducing their operations. However, in 2024, IATA reported that the blocked funds had been returned through constructive engagement and phased repatriation.

By Hilka Birns, ch-aviation

US warns citizens of fresh terror threat in Nigeria

The United States Embassy in Nigeria has warned of a possible terrorist threat targeting US facilities and US-affiliated schools in the country.

In a security notice issued via its website on Monday, the embassy said the alert was intended to inform American citizens in Nigeria of potential risks and advised them to take additional precautions when visiting U.S. diplomatic missions and affiliated institutions.

The notice asked US citizens to exercise increased vigilance when travelling to its offices in Abuja and Lagos, as well as schools affiliated with the United States.

“The U.S. Embassy in Abuja informs U.S. citizens of a possible terrorist threat against U.S. facilities and U.S.-affiliated schools in Nigeria.

“The Embassy recommends that U.S. citizens take additional precautions when travelling to the U.S. Embassy, the U.S. Consulate General in Lagos, and U.S.-affiliated schools, to include varying times and routes,” the statement read.

The embassy advised American nationals to vary their travel times and routes, avoid predictable routines, and ensure their mobile phones are charged in case of emergencies.

“Be aware of your surroundings, keep a low profile, review your personal security plans, vary your regular routes, keep your cell phone charged in case of emergency, stay alert in public places, avoid crowds and demonstrations, and familiarise yourself with emergency exits when entering buildings,” it said.

The embassy did not spell out the source of the threat.

The warning in Nigeria also comes amid a global security warning by the United States after Washington and Israel attacked Iran, which has responded with missile and drone attacks against its U.S.-aligned neighbours.

It also follows protests in Lagos and some northern states by members of the leadership of the Islamic Movement, who denounced the killing of Iran’s Supreme Leader, Ayatollah Ali Khamenei, in strikes by the United States and Israel.

The development comes as Mansoureh Khojasteh Bagherzadeh, wife of Iran’s Supreme Leader, reportedly died from injuries sustained during recent United States and Israeli strikes at her residence in Tehran.

Recall that President Donald Trump on Christmas Day ordered US bombings of Nigeria, saying he was targeting jihadists.

By Saheed Oyelakin, Punch

Nigeria's gas shipment diverted to Asia as US-Iran tensions squeeze global LNG supply

A shipment of liquefied natural gas (LNG) from Nigeria has been redirected from Europe to Asia after a sharp spike in Asian gas prices created a lucrative arbitrage opportunity for traders, highlighting how rapidly shifting global energy markets can reshape trade routes.

Shipping data from analytics firm Kpler showed that the LNG tanker BW Brussels, which loaded a cargo at the Nigeria LNG Bonny Island Terminal on 27 February, initially signalled a westward journey towards Europe before changing course and sailing south towards Asia via the Cape of Good Hope.

The diversion came as Asian spot LNG prices surged amid tightening global supply, driven partly by geopolitical tensions between the United States and Iran and by a production suspension in Qatar, according to a Reuters report.

Benchmark prices in Asia have climbed sharply in recent days. Data from S&P Global Platts shows the Japan Korea Marker, Asia’s main spot LNG benchmark, jumped by 68.52 percent to about $25.39 per million British thermal units for April delivery last week, its highest level in three years.

By comparison, spot LNG prices for north-west Europe rose to roughly $15.48 per mmBtu for April delivery. Although that represents a strong rally, the widening price gap means Asia has become the more profitable destination for flexible LNG cargoes.


Widening arbitrage between Asia and Europe

Market analysts say this widening spread between Asian LNG prices and Europe’s benchmark gas hub, the Title Transfer Facility, has opened a clear arbitrage window for traders.

“So far, one LNG tanker that loaded in Nigeria last week has diverted to Asia from its initial Atlantic-bound course after spot prices surged,” said Go Katayama, a principal insight analyst at Kpler.

“BW Brussels appears to have changed course from an initial signal toward France and is now heading toward Asia via the Cape of Good Hope.”

The shift illustrates how quickly global gas trade flows can change when price signals favour one region over another.

According to Qasim Afghan, an analyst at Spark Commodities, global front-month arbitrage opportunities have “increased significantly” and now favour Asian markets across several major LNG export locations.

The tightening supply environment has also prompted Asian buyers to scramble for alternative LNG sources.

Government officials told Reuters that India is exploring new LNG suppliers to offset reduced Qatari volumes, while state-owned energy firm Petrobangla plans to issue tenders for immediate LNG deliveries.

Despite Asia’s price advantage, analysts note that Europe could still attract some flexible cargoes because of the deep liquidity of its gas trading market, which allows traders to hedge risks more easily.

The disruption in Qatari supply has intensified competition between buyers in the Atlantic and Pacific basins for available LNG shipments. Asian buyers account for more than 80 percent of Qatar’s LNG exports, making the region particularly sensitive to supply shocks.

For Nigeria, the rerouted cargo underscores the growing importance of flexible destination clauses in LNG contracts and the powerful influence of global price signals on energy trade flows. If Asian prices remain significantly higher than European benchmarks in the coming weeks, analysts say more Atlantic Basin cargoes could follow the same eastward path.

By Segun Adeyemi, Business Insider Africa

Nigeria: ‘Renewed Hope’ or ‘Hopelessness’?

Nigeria’s Bola Tinubu was elected on promises to tackle the nation’s widespread violence and address two of its root causes: Poverty and corruption. But with the country going to the polls next year, has he delivered on his "Renewed Hope" agenda? Mehdi Hasan goes head-to-head with Daniel Bwala, Tinubu’s once staunch critic-turned-Special Adviser on Media and Policy Communications, on the administration’s record in office and where he stands on his past accusations against his current boss.

CGTN Africa

How Nigeria spent over N8bn on abducted school children in a decade

Nigeria’s worsening insecurity has continued to place school children among the most vulnerable targets of criminal gangs.

SBM Intelligence reveals a new analysis, showing that Governments in Nigeria have paid nearly N8 billion in ransom linked to school abductions between 2014 and 2025, reinforcing a cycle that continues to make schools attractive targets for armed groups.

The analysis, entitled “Monkey Business: Timeline of Nigeria’s Government Funding of School Abductions (2014–2025)”, tracks publicly reported ransom payments made by federal and state authorities following major school kidnapping incidents across the country.

The timeline shows how ransom payments have gradually become embedded in the response to mass abductions, even though Nigerian law formally prohibits negotiating with kidnappers.

The timeline begins with the 2014 abduction of 276 schoolgirls in Chibok, Borno State, after which the federal government reportedly paid N5 billion as part of negotiations.

In 2018, another set of 276 school girls were kidnapped in Yobe, and an undisclosed ransom was paid.

In 2020, 275 school girls were kidnapped in Katsina State and the Government paid N30 million, while in 2021, in Niger State 200 girls were abducted and the government paid N50 million, the same year in Niger State another 42 girls were abducted and a ransom of N15 million was paid.

In Kaduna State 39 school girls were kidnapped in 2021, and the sum of N32 million was paid, and in Zamfara in the same year 279 were kidnapped and N60 million paid.

In 2024, Kaduna State witnessed another school children abduction with 287 kidnapped and a ransom of N1 billion paid and in 2025, 327 school children were abducted in Niger State and the government paid N2 billion.

SB Morgen Intelligence report shows that more than N8 billion has been expended through ransom payments, security operations, negotiations, and emergency responses following a wave of mass school kidnappings that has shaken communities and disrupted education nationwide.

In Febrauary 2026, an AFP investigation report alleged that the Nigerian Government paid a huge ransom estimated at N2 billion or up to $7 million, to secure the release of 230 pupils abducted from St, Mary Catholic School in November 2025.

Intelligence sources told AFP the money was flown by helicopter to Boko Haram commander, Ali Ngulde in Gwoza, with two militant commanders freed as part of the deal.

The Government has strongly denied the claims. However, there is a history, since 2014, Nigerian governments have paid nearly N6 billion ($4.4million) in confirmed ransom payments to armed groups for kidnapped school children.

Federal and State Authorities both participated, despite laws prohibiting such payments. Each ransom funds the next abduction, turning education into a target and ensuring the cycle of violence continues.

Ike Chilaka-Osuagwu, an Educationist, described the scenario as worrisome, and a point to the fact that the government lacks the political will to curb banditry and kidnapping, especially against school children in the country.

Besides, he emphasised that as far as the Government continues to divert resources to pay ransom, economic development will continue to elude the country.

“The Government lacks the political will to end this nonsense. It will continue to affect productivity, and encourage diversion of funds and energy required to improve the economy,” he said.

Abductions are a long-standing pattern in Nigeria. Between July 2023 and June 2024 alone, SBM Intelligence, an Africa-centric security analysis and strategic consulting firm, found that at least 7,568 people were kidnapped in 1,130 cases across the country.

During this period, the kidnappers demanded approximately N11 billion (about $7.5 million) as ransom, and received N1 billion (about $0.65 million).

This is despite the fact that the Nigerian Senate outlawed ransom payments to kidnappers in 2022 and made abduction punishable by death.

According to the report, all these payments illustrate how kidnapping for ransom has evolved into a structured criminal economy targeting schools in the country.

By Charles Ogwo, Business Day