Vingroup Launches 5 First Smart TV Models

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Vingroup Launches 5 First Smart TV Models

HANOI, VIETNAM – Media
OutReach – 15 December 2019 – On December 14, 2019, Vinsmart Research and Manufacture Joint Stock Company (Vingroup member) officially launches its five first smart TV models. By using the copyrighted Android TV operating system from Google, Vsmart TVs not only bring outstanding experiences in their price range but also aim to become a device controlling smart electronic products in your home (SmartHome).  

The five Vsmart TV models are produced at a modern factory complex in Hoa Lac Hi-Tech Park. In the first generation, Vsmart TVs are divided into two main lines to flexibly meet the needs of consumers, including the high-end KE product line with an ultra-thin screen border and three-sided edge-to-edge metal design, while the KD product line retains the edge-to-edge style but is more balanced in terms of design and optimisation for visual and content experience.

With a contemporary design style, Vsmart TVs will be sized from 43 to 55 inches and designed with 4K resolution quality, HDR10 support, Dolby audio and other features optimised for Vietnamese people.

The highlight of Vsmart TVs is the use of the copyrighted Android operating system directly from Google, providing attractive features such as Google Music, Google Play Games and the possibility of installing more than 5,000 applications on the Google Play store. Simultaneously, Vsmart will integrate a YouTube button on the remote control, opening up a rich, diverse and highly customisable entertainment world and information for users.

Besides, VinSmart also works with domestic partners such as FPT Play, VTV, THVL and FILM + to bring interesting content to users.

Each Vsmart TV model will be equipped with smart virtual assistants like Google Assistant for users to command the TV in Vietnamese, supporting all northern, central and southern
Vietnamese voices. In the future, with smarter features of Google and through the focus on Product Research and Development, Vsmart TV will not only be a pure audio-visual device but will play a central role among your home devices, enabling the control and switching on/off of smart home devices (SmartHome) within Vingroup’s product ecosystem.

Regarding hardware, Vsmart TV models are manufactured in an environment with standard air cleanliness and humidity to ensure the machines always operate with the highest
accuracy, high stability and low error rate. VinSmart also works with the world’s leading chipset vendors to design PCBs (printed circuit boards), and to produce components itself.

All products are subjected to 16 automatic tests, including 12 fully automated tests, covering all TV functions to ensure each product meets the strictest quality standards.

The five Vsmart TV models are priced from VND8.69 million to VND16.99 million and are widely distributed in major electronics retail systems and e-commerce sites nationwide. Customers who buy Vsmart TVs will enjoy a superior electronic warranty with a period of two years.

Price list and product specifications:

 

Product

Price

1

TV 43″ 4K HDR KD6600

8,69 million VND

2

TV 50″ 4K HDR KD6800

10,69 million VND

3

TV 55″ 4K HDR KD6800

12,49 million VND

4

TV 49″ 4K HDR KE8100

13,99 million VND

5

TV 55″ 4K HDR KE8500

16,99 million VND

 

Regarding this event, Le Thi Thu Thuy, Vice Chairman of Vingroup cum General Director of Vinsmart Research and Manufacture Joint Stock Company, said: “Following smartphone product lines, VinSmart has continued to research and manufacture smart TVs focusing on design and user experience, bringing a more interesting and smarter life for Vietnamese people.”

References:

VinSmart is a member company of Vingroup — Viet Nam’s largest multidisciplinary private economic group. Vinsmart Research and Manufacture Joint Stock Company was founded in June 2018, with the mission of becoming a global technology company, creating high-quality electronic products and smart technologies, applying AI and connecting with devices on IoT platforms. The mainstream products of the company are smart and IoT (Internet of Things) electronic devices such as smartphones, smart TVs and SmartHome devices.

2019 Review & 2020 Outlook – LBS Executive Breakfast Session (December 2019)

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2019 Review & 2020 Outlook – LBS Executive Breakfast Session (December 2019)

Nigeria – No longer a smugglers paradise

The Jury is out as to whether the present border closure in Nigeria should be extended or shortened. There are short-term benefits, which include a temporary strengthening of the naira and a 30% reduction in petrol imports. The long-term disadvantages include the disruption of trade flows even though not all cross border trade is contraband (smuggling).

Whilst the argument rages about the difference between emotional economic patriotism and dynamic equilibrium, the country is suffering some reputational damage.

A review of 2019 and a preview of 2020

2019 was a year of Political Trepidation and Growing Uncertainties. Some Nigerians are happy to see the back of 2019 while others are pleased with the slow economic progress. The year 2020 in our view will be one of the economic imponderables at both the global economy and domestic markets. All eyes will be on the US elections, the Fed’s struggle for independence and the policy response of advanced economies to the global slowdown.

For Nigeria, consumers will groan about the hike in VAT, the restoration of tollgates and cost-reflective electricity tariffs. The good news is that the payment of the new minimum wage and the arrears would offer some succour to workers. Investors would also keep a close watch on the stock market and the impact of government policies on their portfolio strategy.

In this edition of the LBS Breakfast session, Bismarck Rewane and the FDC Think Tank offer a dispassionate analysis of the imponderables, flashpoints and unknowns of 2020 and try to unravel the uncertainties ahead.

Merry Christmas and Happy New Year in advance.

Click here to download the 2019 Review & 2020 Outlook – LBS Executive Breakfast Session (December 2019)

Inflation, Rolling with the Punches “Border closure, Lower interest rates…”

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Inflation, Rolling with the Punches “Border closure, Lower interest rates…”

Based on our survey, headline inflation for November is projected to increase to 11.88% from 11.61% in October. In the last six months, headline inflation has increased for three months. If our projections are accurate, it will be the fourth month of rising inflation.

In recent times, there have been more factors stoking inflationary pressure, despite the recent growth in output recorded in Q3 (2.28%). Factors such as the border closure, lower interest rates and increased liquidity have impacted negatively on the consumer price index. The border closure has led to a spike in the prices of commodities such as rice, chicken, and turkey while lower interest rates are a disincentive to save. The average yield on T/bills is now 4.24% below headline inflation, resulting in a negative real rate of return.
Hence people are likely to spend rather than save. This has increased the demand for goods. The level of liquidity has also increased as reflected in the 3.95% increase in the credit to the private sector.

Although, the CBN has achieved the dual objectives of lower interest rates and higher loan extension to the private sector, heightened inflationary pressures and the steady depletion of the external reserves could trigger a change in policy in the near term.

Month-on-Month Inflation Expected to stay flat at 1.06%

The month-on-month inflation (a more relevant measure of prices) is projected to remain flat at 1.06% (13.49% annualized) in November. Commodity prices moved in different directions in November, while tomatoes and pepper declined, garri and rice recorded price increases.

Determinants of Inflation

Money Supply

Money supply is a key determinant of the general price level. In October, M2 grew at an annualized rate of 2.07% to N27.63trn. We anticipate a further increase in broad money supply in November as banks increase lending to creditworthy customers in a bid to meet up with the CBN’s 65% LDR directives. In November, OMO maturities surpassed total OMO sales (N849.31billion), resulting in a net inflow of N1.05trillion.

Interest Rates

While the anchor rate (MPR) has been left unchanged at 13.5%p.a since March 2019, the CBN’s unorthodox policies have seen lending rates declined by an average of 400 basis points in the last four months. Lower interest rates incentivize consumers and corporates to borrow more, thus increasing the amount of money in circulation. This is evidenced by the spike in credit to the private sector to N25.80trn in October from N24.82trn in August. Currency in circulation increased to N2.06trn in October from N2.02trn in August.

Exchange rate

The exchange rate was relatively stable across all market segments in November. At the parallel market, the naira traded between N359/$-N360/$. Exchange rate stability is expected to have a positive impact on core inflation which is expected to decline marginally to 8.86% from 8.88% in October.

Peer Comparison – inflationary pressures across Sub-Saharan Africa

Regional inflationary trends have been increasing in the past months. Three of the six SSA countries under our review have released their inflation figures for November, all posting increases. Rising food prices were a common factor responsible for the uptick in inflation. With the unfavourable weather condition across the African region, flood and storms have affected farm produce in countries such as Kenya and Uganda, leading to reduced food supply and higher prices.

With the exception of Kenya and Uganda, all the SSA countries under our review kept their benchmark interest rates unchanged at their respective MPC meetings.

Outlook: Festive demand to heighten inflationary pressures

We expect commodity prices to increase in the next few weeks due to increased seasonal demand. The increase in price could be further exacerbated by the impact of the border closure. In addition, the minimum wage payment, especially in Lagos, will boost consumer disposable income and increase aggregate demand.

Hence, headline inflation will most likely increase in December.

Financial Derivatives Company Think Tank

Fenix Benin (ENGIE) Connects 40,000 Households to Solar Power in Just One Year

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Fenix Benin (ENGIE) Connects 40,000 Households to Solar Power in Just One Year

Next-generation energy company Fenix International, a subsidiary of ENGIE, has surpassed its previous rapid growth rates and connected 40,000 households to solar power in Benin, representing 200,000 people, within just one year of launching sales in the country.

Only 34% of Beninois have access to electricity, with rural residents still further behind at a 16% electrification rate. Fenix’s high-quality solar home systems and strong distribution network allow distributed rural households to access warrantied products and accompanying after-sales service. Customers pay for the 10 to 50 watt solar home systems over time, with small mobile money payments. Paying for the kits via instalments makes the products affordable even for low-income families and opens a path to financial inclusion via a Fenix credit score and upgrades to larger systems and additional services.

Brian Warshawsky, CEO of Fenix International, comments, “In 2019, it’s unconscionable that 600 million people across Africa still lack access to electricity. I’m thrilled that we’re making a difference in the lives of 40,000 Beninois households and 200,000 people, providing access not only to clean solar power but also to financial empowerment. It’s a testament to the strength of our team in Benin that we were able to grow so rapidly, and I look forward to seeing their accomplishments going forward.”


Yoven Mooroven, CEO of ENGIE Africa, said, “It’s exciting to see energy access expanding in Africa, and I’m proud of the contributions our various teams are making to the effort. With ENGIE Power Corner providing mini-grids in Tanzania, Zambia and starting development in Western Africa, newly-acquired Mobisol selling larger solar home systems in East Africa, and Fenix focusing on ultra-affordable PAYGO systems in six markets, ENGIE Africa is working at all levels to implement our Access to Energy strategy across Africa.”

Philippe Robert, Managing Director of Fenix Benin, concludes, “Reaching 40,000 households in just a year is a huge milestone for our team to accomplish, but it is only the beginning for Fenix Benin. Our 140 employees are just getting started in our goal to bring clean light and power to all those without electricity across Benin. Providing much more than just solar lighting, our systems allow customers to access an on-grid experience with TVs, radios, additional accessories, and financial and product upgrades. We will continue to work tirelessly to illuminate the next 40,000 homes, then the next 100,000, until everyone across Benin has a clean, well-lit home free from the dangers of polluting fossil fuels.”

Agusto & Co announces the retirement of its Chief Executive Officer, Vivien Shobo

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Agusto & Co announces the retirement of its Chief Executive Officer, Vivien Shobo

Agusto & Co, Nigeria’s foremost Credit Rating Agency, has announced the retirement of its Chief Executive Officer – Vivien Shobo, effective 31 December 2019. Following over two decades with the organization, Vivien leaves with an outstanding record of achievements further strengthening Agusts & Co’s formidable market position. She also led Agusto & Co’s African expansion initiatives by obtaining Credit Rating Agency licenses from the Capital Market Authorities of Kenya and Rwanda.

Under her leadership, Agusto & Co has successfully rated most of Nigeria’s leading banks and pioneered domestic credit ratings for notable corporates such as Dangote Cement Plc, MTN Nigeria Communications Plc, Lafarge Africa Plc, Nigerian Breweries Plc, Guinness Nigeria Plc, Julius Berger amongst others.

Vivien’s management at Agusto & Co also played major roles in facilitating landmark multibillion transactions including the:

  • Largest Municipal Bond programme and single largest tranche issuance – Lagos State Government’s ₦500 billion Bond programme and ₦87.5 billion Bond issuance.
  • First bond issued by a deposit money bank in Nigeria in 2006 “the Access Bank ₦13.5 billion-naira redeemable bond”.
  • First bond issued by an insurance company in 2008 “Crusader Nigeria Plc ₦4 billion Unsecured Convertible Debenture
  • First 15-year corporate green bond fully guaranteed by infrastructure Credit Guarantee Company Limited (Infracredit) – NSP-SPV PowerCorp Plc’s ₦8.5 Billion 15-year 15.60% Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bond Due 2034
  • First commercial paper issuance under the new guidelines of FMDQ – UPDC’s ₦24 billion commercial paper programme
  • First hospitality corporate bond issuance in the Nigerian debt capital market – Transcorp Hotels Plc’s ₦19.7 billion Series I & II bonds Due 2020
  • First FinTech corporate bond (callable) issuance in the Nigerian debt capital market- Interswitch Africa One Plc’s ₦23 Billion 7-Year 15% Fixed Rate Series 1 Senior Unsecured Callable Bonds Due 2026
  • First logistics corporate bond issuance in the Nigerian debt capital market – TAK Agro Plc’s ₦15 Billion 16.49% Seven-Year Fixed Rate Senior Bond Due 2026
  • World Bank credit rating assessment for the City of Kigali and the 30 districts in Rwanda in 2015

Following her retirement, Yinka Adelekan, Executive Director, has been appointed as Agusto & Co’s Chief Executive Officer designate. Yinka is an astute finance executive with over twenty years’ experience in the financial services industry, and her expertise spans credit ratings, corporate banking, risk management, product development, financial analysis, and information management.

Agusto & Co is a pioneer in the Nigerian Credit Ratings Industry and commenced business in January 1999. In 2001, Agusto & Co became the first credit rating agency to be licensed by the Securities & Exchange Commission.

African Development Bank’s digital skills training benefits women

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African Development Bank’s digital skills training benefits women

After graduating from the University of Ibadan in Nigeria with a degree in Communication and Language Arts in 2016, Olashile Odetola could not find a job.

But an online learning program piloted by the African Development Bank has given her two “gifts”: digital skills and a sense of confidence.

Odetola, 31, was one of two thousand students who took part in the ‘Coding for Employment’ digital training program launched by the African Development Bank in partnership with technology firm Microsoft in April 2019 after successful pilots in Nigeria, Kenya, Rwanda, Senegal and Cote d’Ivoire. 46% of the students have been women.

Odetola said the skills she acquired from the coding program have made her more competitive in the job market. She was permitted to attend the training class with kids in tow – and was even nursing her last child.

“Never in my life would I have thought that I will have this opportunity. For the first time in my life, I feel confident in myself. I am now working from the comfort of my home in the digital field,” she told a packed auditorium at this year’s African Economic Conference (AEC), held in Sharm El Sheikh, Egypt.

After completing the five-week programme, Odetola now works providing annotation and labelling for an online company. “It’s helped me to support the family,” she said.

“When I saw this opportunity from the Bank, I jumped at it,” she said.

Her testimony drew cheers from scores of hopeful young people who had been invited to attend the conference. Her testimony was an illustration of the Bank’s ‘Jobs for Youth in Africa’ strategy, which aims to create 25 million jobs by 2025 and to equip 50 million African youth with competitive skills.

“Jobs for Youth is operational and we seek to create impact. Not just any impact but the impact that can be scaled. African youth deserve value — that is what the African Development Bank and her partners sought to create,” Uyoyo Edosio, the program task manager at the African Development Bank, told the conference.

“We placed all our bets on the youth and for the first time, the private sector, non-governmental bodies and development institutions like the Bank were not speaking profit margin, we were speaking development,” Edosio said.

Overall, the goal is to expand the program to 130 centres of excellence across Africa over a 10-year period. The aim is to create nine million jobs and to empower young people to become innovative players in the digital economy.

“This is just one step on that journey to empower our youth in Africa to get the greatest jobs in computer science,” Rich Reynolds, General Manager at Microsoft Philanthropies Strategy, said of the Coding for Employment program.

Government ministers from Nigeria, Liberia, South Sudan and Eswatini attending the conference, commended the initiative as a pacesetter in tackling the enormous youth unemployment challenge the continent is grappling with. They outlined policies being pursued in their respective countries to address youth employment.

The AEC is hosted by the African Development Bank, in partnership with the United Nations Development Program and the United Nations Economic Commission for Africa. This year’s theme was: Jobs, Entrepreneurship, and Capacity Development for African Youth”

Pre-CPI report: Inflation rate to further surge in November

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Pre-CPI report: Inflation rate to further surge in November

The Nigeria National Bureau of Statistics (NBS) in the coming week is expected to publish the November 2019 Consumer Price Index report (CPI) to show the direction of movement (up or down) in the general price level (Inflation rate) of goods and services in the economy for the month.

As such, we conducted a Pre-CPI report analysis, and our findings suggest that the Headline inflation rate (a measure of the average change in the price level of both food and non-food items) will climb by a minimum of 7bps to 11.68% y/y from 11.61% in the preceding month. This modest upsurge we believe will mainly be driven by a joint increase in both the Core inflation (i.e. non-food items price index) and Food inflation (i.e. food price index).

Our position is hinged on the projected effect of three notable drivers within the month – seasonality effect, FX inflows reduction, and conflict report in some agrarian communities.

First, we expect the characteristic increase in end-of-the-year consumer spending to drove up prices on foods, clothing items, transportation, and recreation services (to mention but few) in November.

Secondly, we expect the negative impact of reduced FX inflows due to oil price and output volatility (at a time demand for FX by domestic importers is high), and CBN continuous draw-down on the foreign reserves balance (which has led to Nigeria external reserve slipping to $39bn) to pressure Core inflation (nonfood items price index) to 8.92% y/y (or 0.72% m/m) from 8.88% y/y (or 0.74% m/m) in the preceding month.

Thirdly, the recent reports of conflicts in some agrarian communities in the Middle-belt and core North (which has affected the supply and prices of some farm produce at a time the land border remains shut by the federal government) are expected to negatively impact food price inflation. As such, we expect the food price sub-index to climb to 14.38% y/y (or 1.36% m/m) from 14.09% y/y (1.33% m/m) in the previous month. This we anticipate being more pronounced on the prices of staple food items such as rice, yam, pepper, and vegetable.

Hence, we project a minimum of 7bps rise in the Headline inflation rate to 11.68% for November 2019.

GTI Research

SSA Growth Story: Unsynchronized!

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SSA Growth Story: Unsynchronized!

The economic growth in Sub-Saharan Africa (SSA) region remained positive in 2019, though, dragged by the weak growth posted by regional heavyweights – Nigeria, South Africa, and Angola. Economic recovery remained sluggish in Nigeria and Angola, as the volatilities in the crude oil market, weighed on both countries economic growth. Similarly, economic activities remained underwhelming in South Africa as power cuts – load-shedding – levelled business sentiments.

Also, according to World Bank and IMF, Ethiopia, Ivory Coast, Ghana, and Rwanda remained among the region’s fastest-growing economy in 2019, supported by improved governance, policy stability, higher agriculture and services sector output. This buoyed the supply side activities; even as stronger household consumption and public investment bolstered the demand-side activities. Notably, Ghana recorded a slight slowdown in economic activities as the country commenced life after the end of its 16th IMF bailout program in Apr -19. Also, large interest payments to foreign holders of government bonds kept Ghana’s current account in the deficit, despite an improved trade balance which was bolstered by rising oil and gas exports. Additionally, significant volatility in the foreign exchange markets, coupled with elevated inflation, dampened investment sentiments in Ghana.

Looking ahead, we expect slow recoveries in the larger economies to continue to constrain the strength of the regional growth amid long-delayed reforms. Nonetheless, we expect growth in the smaller economies to continue to support the region’s growth.

United Capital Research

Oando PLC Announces the Successful Signing of Two Gas Supply Agreements with NLNG Limited

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Oando PLC Announces the Successful Signing of Two Gas Supply Agreements with NLNG Limited

Oando PLC Announces the Successful Signing of Two Gas Supply Agreements with Nigeria Liquefied Natural Gas Ltd.

Adewale Tinubu, Group Chief Executive, Oando PLC; Mr. Tony Attah, Managing Director, Nigeria LNG Limited ; Mr. Massimiliano Bertona, General Manager Commercial & Negotiations, NAOC Eni, representing Managing Director of NAOC; Alhaji Mansur Sambo, Managing Director, NPDC and the event was chaired by Mallam Mele Kolo Kyari , Group Managing Director, Nigerian National Petroleum Corporation

Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, through its upstream subsidiary, Oando Energy Resources, today announced the successful signing of two Gas Supply Agreements (GSA) with the Nigeria Liquefied Natural Gas Ltd (NLNG), for the renewal of gas supply for the existing Trains 1-3 for a term of 10 years and for gas supply for the impending Train 7 for a term of 20 years.

Today, under the terms of the current agreement the NAOC Joint Venture (JV) made up of NNPC/NAOC/Oando has a total supply obligation of 850MMScf for Trains 1–6. The JV is specifically responsible for supplying a Daily Contract Quantity (DCQ) of 344.6MMscf/d for Trains 1-3 and 505MMscf/d for Trains 4-6, making the NAOC JV the second-largest gas supplier to NLNG. The first GSA is a renewal of the gas supply terms for Trains 1-3.

In addition to the JVs current supply to trains 1-6 and under the terms of the second agreement the JV will be responsible for supplying a DCQ of 294.7MMScf/d for Train 7. Train 7 is expected to come on stream in 2024 and will bring the JV’s total supply obligation to 1.1Bcf. The execution of these agreements also effectively monetizes ca. 3.3Tcf of gas for the NAOC JV of which 666Bcf will be net to Oando.

The NLNG GSAs were signed by Mr. Tony Attah, Managing Director, NLNG; Mr. Massimiliano Bertona, General Manager Commercial & Negotiations, NAOC, representing Managing Director of NAOC; Alhaji Mansur Sambo, Managing Director, NPDC and Wale Tinubu, Group Chief Executive, Oando PLC and the event was chaired by Mallam Mele Kolo Kyari, Group Managing Director, NNPC.

Commenting on the agreement Mr. Tinubu said: “We are particularly pleased to be the only indigenous company party to the NLNG supply agreement, a testament to the potential of local players. The NLNG vehicle will support the Federal Government’s efforts to grow reserves, boost the country’s gas footprint and market share in the global LNG market and in-turn positively develop the Nigerian economy – a goal that we are aligned with and have always wholly endorsed. The signing of these two agreements confirms and consolidates our long-term partnership with NLNG; furthermore, it is a validation of NLNG’s confidence in our operational track record. The execution of the GSA is another positive stride in our journey to becoming the leading independent exploration and production company; being a 20 year guaranteed income stream it will strengthen our financial position as well as demonstrate to our key stakeholders the Company’s growth potential. Finally by way of this agreement and in line with our increased focus on sustainability and social impact the JV is closer to its objective of achieving zero gas flare in the immediate future. We will continue to collaborate with our partners and other stakeholders in finding creative solutions to move both the industry and economy forward.”

The execution of the two GSAs is a significant milestone for the Company, its JV partners, and NLNG. It satisfies a condition precedent for NLNG to take its Final Investment Decision (FID) on Train 7 and also guarantees continuous gas supply for its existing trains after the expiration of the current agreements.

About Trains 1 – 7

Trains 1 – 3 are a brainchild of the Nigeria LNG, established to tap into Nigeria’s abundant gas resource and monetize it through LNG exports. Final Investment Decision (FID) for the first 2 trains was received in November 1995. Production commenced in September 1999 for Train 2, while Train 1 started in February 2000. Train 3 commenced production in November 2002 respectively.

The next phase of development called the NLNGPlus project, comprising Trains 4 and 5, commenced in March 2002. Train 4 came on stream in November 2005 and Train 5 was started up in February 2006. The NLNG Six project, consisting of Train 6 and additional condensate processing and LPG storage facilities commenced in 2004. Train 6 became operational in December 2007.

With six trains currently operational, the entire NLNG plant is capable of producing 22 Million Tonnes Per Annum (MTPA) of LNG, and 5 MTPA of NGLs (LPG and Condensate) from 3.5 Billion (standard) cubic feet per day (Bcf/d) of natural gas intake. Gas is supplied via six main dedicated Gas Transmission Systems (GTS) with four of them on-shore. The addition of Train 7 will enhance the total production capacity to over 30 MMTPA of LNG.

Turkish Airlines Denies Suspension Of Operations In Nigeria

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Turkish Airlines Denies Suspension Of Operations In Nigeria
Turkish Airlines has issued, but not a detailed statement with regards warning by the Federal Government of Nigeria that it must solve ongoing baggage handling issues or risk being banned.

The airline pledged to comply to directives by the Nigerian Civil Aviation Authority (NCAA) of upgrading its aircraft.

There are reports circulating in several news websites that claim Turkish Airlines operations in Nigeria are suspended or to be suspended by Nigeria Civil Aviation Authority (NCAA).

We would like to announce that our operations continue in all of our destinations in Nigeria. The news reports on the subject do not reflect reality.

The airline was suspended following its inability to convey passengers with their luggage into the country for the past two weeks.

They were however suspended from using any of the nation’s airport until it has upgraded it’s Boeing 737-800 to a larger airbus that would be able to convey passengers with their luggage

But the management of Turkish Airlines during a meeting with NCAA Acting Director General Capt. Abdullahi Sidi on Saturday in Abuja pledged to commence immediately freight of all leftover passengers’ baggage back in Turkey.

A statement by NCAA spokesperson Sam Adurogoye stated that the airlines promised to upgrade its Boeing 737 – 800 being used and found inadequate to a larger Airbus A 330 and Boeing 737 – 900.

The airline disclosed that the programme of clearance will be carried out from 13th to 17th December 2019.

NCAA DG said he expects strict compliance to this remedial programme and warns all operators to ensure Nigerians are not taken for granted by providing safe, secure and efficient service.

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