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Nigeria No Longer Interested in Airline Partnership with Ethiopian Airlines

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Ethiopian Airlines has announced that the Nigerian government is no longer interested in partnering to establish the proposed Nigeria Air project

Ethiopian Airlines has announced that the Nigerian government is no longer interested in partnering to establish the proposed Nigeria Air project. This announcement was made by the Group Chief Executive Officer of Ethiopian Airlines, Mesfin Tasew, in Dubai, United Arab Emirates, according to the Ethiopian Tribune.

“The Nigerian government has lost interest in partnering with a foreign airline,” Tasew was quoted as saying.

This development comes nearly two months after the Federal Government indefinitely suspended the Nigeria Air project. On May 27, Festus Keyamo, the Minister of Aviation and Aerospace Development, announced the suspension during a ministerial briefing marking the first year of President Bola Tinubu’s administration.

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Keyamo criticized the deal with Ethiopian Airlines, stating that the ownership structure of the suspended airline was not beneficial to Nigeria. He argued that it would be irresponsible for the Federal Government to allow a foreign entity to monopolize Nigeria’s aviation industry, thus compromising the growth of local businesses.

In 2023, the Ministry of Aviation, under the leadership of former Minister Hadi Sirika, unveiled Nigeria Air just three days before the end of former President Muhammadu Buhari’s administration. The ownership arrangement, which granted Ethiopian Airlines a 49 percent equity stake, raised concerns among stakeholders nationwide. The Federal Government held a 5 percent equity, while a consortium of three Nigerian investors owned 46 percent.

Reacting to the deal in June 2023, the House of Representatives urged the Federal Government to suspend the operations of Nigeria Air over allegations of fraud.

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The suspension and the government’s withdrawal from the partnership indicate a significant shift in Nigeria’s approach to developing its aviation sector, with a focus now seemingly on fostering local businesses and ensuring a beneficial ownership structure.

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Trump Vows to Impose Massive Tariffs to Protect American Car Industry

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Trump Vows to Impose Massive Tariffs to Protect American Car Industry

In an interview with Fox News’ Maria Bartiromo on Sunday Futures, former President Donald Trump doubled down on his economic strategy to impose steep tariffs on foreign carmakers, a plan he says is essential for protecting U.S. automakers. Trump suggested raising tariffs on foreign vehicles by 200%, or even as high as 500%, to prevent overseas manufacturers, particularly those from China and Mexico, from competing with American car companies.

“I’ll put 200 or 500%, I don’t care, until they can’t sell one car here,” Trump declared, emphasizing that his goal is to stop foreign automakers from undermining U.S. manufacturing. He stressed that allowing foreign-made cars to dominate the market could lead to the collapse of the remaining U.S. car companies.

Trump’s proposal comes amidst criticism from several quarters, including conservative outlets like The Wall Street Journal, which warned of the potential negative impact such tariffs could have on the economy. The former president dismissed these concerns, arguing that the tariffs would not only bring car production back to the U.S. but also strengthen American manufacturing.

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“We have the golden market. We have the money,” Trump said, warning that without drastic action, the U.S. risks losing its economic edge in car production. His plan is part of a broader economic agenda aimed at reshoring American industries and reducing dependency on foreign goods.

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Sri Lanka swears in new left-leaning president

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Sri Lanka swears in new left-leaning president

Anura Kumara Dissanayake has been sworn in as Sri Lanka’s new president, pledging to bring “clean” governance as the country continues to recover from its deepest economic crisis. The left-leaning leader, known for his stance against corruption, sees his election as a call for change and transparency in a country long troubled by political cronyism.

Dissanayake’s election follows the ousting of former president Gotabaya Rajapaksa in 2022 after mass protests driven by economic hardships. In his inaugural address, the 55-year-old president emphasized the need for a new political culture that restores public trust. “We need to establish a new clean political culture,” he said, while committing to safeguard democracy.

His speech underscored the importance of unity, with representatives from Sri Lanka’s Buddhist, Hindu, Muslim, and Christian communities attending the ceremony. Dissanayake promised good governance, economic reform, and a focus on manufacturing, agriculture, and IT development. He also pledged to uphold Sri Lanka’s agreement with the International Monetary Fund (IMF), aiming to reduce the burden of austerity on the country’s poorest citizens.

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Dissanayake’s swearing-in was preceded by the resignation of Prime Minister Dinesh Gunawardena, setting the stage for a parliamentary dissolution as the nation embarks on this new political chapter.

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Okpebholo Secures Victory in Edo Governorship Election

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Okpebholo Secures Victory in Edo Governorship Election

Okpebholo Monday, the candidate of the All Progressives Congress (APC), has been declared the winner of the Edo State governorship election after receiving 291,667 votes. He defeated Asue Ighodalo of the Peoples Democratic Party (PDP), who secured 247,274 votes, and Labour Party (LP) candidate Olumide Akpata, who finished third with 22,761 votes. Fourteen other candidates also contested but received fewer votes.

Prof. Faruk Kuta, the Returning Officer from the Independent National Electoral Commission (INEC) and Vice-Chancellor of the Federal University of Technology, Minna, officially declared Okpebholo the winner at 09:27 pm at the collation center in Benin City, Edo State’s capital, amidst applause from APC supporters.

Okpebholo’s victory was dominant in over 10 out of the state’s 18 local government areas, while Ighodalo achieved marginal wins in the remaining councils. The APC also claimed control in two of the three key senatorial districts in Edo State.

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