National
Asset tracking, valuation, crucial for accountability – AGF
The Accountant- General of the Federation, Mrs Oluwatoyin Madein, has said tracking and valuation of all Federal Government assets is necessary for accountability.
Madein said this in an interview with newsmen on Tuesday in Abuja.
She spoke against the backdrop of the Asset Tracking and Management Programme organised by the Office of the Accountant-General of the Federation (OAGF).
According to Madein, asset is the real bedrock of the nation, which needs to be properly valued and accounted for.
“The Federal Government has been spending money over time acquiring, constructing, and providing assets. These assets are the real value of the country.
” Currently, Nigeria has about N32 trillion negative net asset that usually is recorded as liability,” she said.
She said that since the adoption of the International Public Sector Accounting Standards (IPSAS) in 2017, it became imperative to include the valuation of national assets in the annual financial statements of the country.
“This has influenced public sector accounting standards in Nigeria and the strategic role of legacy assets in the adoption of IPSAS.
” Legacy assets refer to existing assets acquired or constructed prior to the adoption of IPSAS in 2017.
” The inability to collate, evaluate, and place value on the assets of the Federal Government has constantly been throwing the financial position of the country into net liabilities.
“This makes the liabilities of the Federal Government to be over and above its assets,” she said.
She said that the stakeholders had now agreed to build a national assets register to accommodate all Federal Government assets.
She listed the assets to include buildings, offices, schools, hospitals, roads, equipment, and even biological assets.
“Investors, donors, and international organisations partnering with the Federal Government will like to see our true value as enumerate in our annual financial statement,” the AGF said.
She described the OAGF as the treasury office of the Federal Government responsible for collating financial information that leads to the preparation of financial statements.
She said that including the valuation of assets in the annual financial statements was one of the key values that the statement is required to possess. (NAN)
The Nigerian Air Force (NAF) has officially appointed Air Commodore Ehimen Ejodame as its new spokesperson, as announced in a statement on Thursday by Kabiru Ali, the deputy director of public relations and information.
Ejodame succeeds Olusola Akinboyewa in this pivotal role. The statement highlights his extensive background and expertise in logistics, strategic planning, and defense management.
Ejodame is a distinguished member of the 45th Regular Course at the Nigerian Defence Academy. He possesses a Bachelor’s degree in Mechanical Engineering, a Master’s degree in Transport and Logistics, and a PhD in Information Systems and Management Studies from the University of Sheffield, United Kingdom.
His professional trajectory includes participation in numerous advanced military and strategic training programs, such as logistics training at the United Nations International Peace Support Operations Centre in Kenya and the Optimisation and Decision Making in Supply Chain Course through the Erasmus Intensive Programme in Portugal. He also excelled at the Armed Forces Command and Staff College in Jaji and the Air Force War College in Makurdi, graduating as the Best Graduating Participant. Furthermore, he has been recognized with the Chief of Defence Staff and Chief of Air Staff Awards from the National Defence College in Abuja.
Ejodame has held several significant positions, including directing staff roles at both the Armed Forces Command and Staff College and the National Defence College. He was the pioneering Dean of the Faculty of Social and Management Sciences at the Air Force Institute of Technology (AFIT) in Kaduna, as well as the Director of Procurement at the same institution. His diplomatic experience includes serving as Nigeria’s Defence Adviser at the High Commission in Malaysia, where he was also accredited to nine other countries, fostering Nigeria’s defense relationships in the region.
A noted scholar, researcher, and public relations expert, Air Commodore Ejodame is affiliated with the Nigerian Institute of Public Relations (NIPR) and the Nigerian Institute of Management (NIM). He is also a Fellow of the Air Force War College, National Defence College, the Chartered Institute of Logistics and Transport, and the Chartered Institute of Purchasing and Supply Management of Nigeria.
Ejodame’s appointment is anticipated to significantly bolster the NAF’s public relations and strategic communication initiatives.
Monday Okpebholo, governor of Edo, has commended the judgment of the state governorship tribunal that affirmed his victory in the September 21, 2024, election.
On Wednesday, a three-member panel of the tribunal led by Wilfred Kpochi, a judge, ruled that the Peoples Democratic Party (PDP) and its candidate, Asue Ighodalo, failed to prove the allegations against the respondents.
The tribunal held that “no competent witnesses were called” by the petitioners to prove the averments in their petition.
The Independent National Electoral Commission (INEC) had declared Okpebholo, candidate of the All Progressives Congress (APC), as winner of the election.
Okpebholo polled 291,667 votes to defeat his closest challenger, Ighodalo of the PDP, who got 247,274 votes.
Ighodalo and PDP had approached the tribunal to challenge the outcome.
In a statement released by Fred Itua, his chief press secretary (CPS), Okphebolo asked Ighodalo and other members of the opposition parties to join hands with him for the progress of Edo state.
The governor commended the people of the state for their support and “belief in his vision for a prosperous and united state”.
He added that his administration “remains focused on delivering on its campaign promises and will not be distracted by frivolous litigation”.
“This victory is not mine alone, but a victory for every citizen and resident of Edo State,” the statement reads.
“It is a mandate to continue the work we have started, to build a state where everyone has the opportunity to thrive. We remain committed to our promise of good governance, transparency, and inclusive development.”
The Asset Management Corporation of Nigeria (AMCON) says Arik Air airlifted 2,239,176 passengers in 2024, accounting for a 19.3 percent market share.
Arik Air has been under the receivership of AMCON since 2017.
Citing a report by the Nigeria Civil Aviation Authority (NCAA) on international and domestic flight operations in 2024 in a statement on Wednesday, AMCON said Arik Air operated 10,699 flights between January and December 2024, making it the second most active airline in terms of passenger traffic and flight operations after Air Peace.
Breaking down the figure, the corporation said the report showed that Arik Air recorded 1,112,358 inbound passengers and 1,126,818 outbound passengers.
“According to the report, the total number of air travellers in the domestic scene in 2024 was 11, 549,443 with inbound at 5,727,700 and outbound passengers at 5,821,743. This figure shows that Arik Air captured 19.3 per cent of the total passenger traffic for 2024, while it had 15.1 per cent of the total 70,543 flights operated by the 15 domestic airlines in the year under review,” the statement reads.
“The Executive Summary on International and Domestic Flight Operations 2024, as captured by the NCAA, indicated that Arik Air had 1,112,358 and 1,126,818 as inbound and outbound passengers for 2024, respectively, making it a total of 2,239,176 passengers ferried in 2024.
“Monthly breakdown of the passenger traffic indicated that Arik Air had 37,772 inbound passengers and another 38,987 as outbound passengers in January 2024, totalling 76,759 passengers.
“For February, the airline recorded 38,217 as inbound and 39,209 as outbound, totalling 77,426; March, 37,183 as inbound and 37,642 as outbound, making it a total of 74,825; April, 31,326 as inbound and 31,971 as outbound, making 63,297.
“The airline in May 2024, also recorded 39,006 as inbound and 39,765 as outbound passengers, totalling 78,771 for the month, while the month of June had 37,710 as inbound and 38,617 as outbound, totalling 76,327.
“July, 156,146 as inbound and 159,044 as outbound, totalling 315,190; August, the airline recorded 153,080 as inbound and 144,259 as outbound, making it a total figure of 297,339 within the period.
“For the month of September, Arik Air recorded 143,396 as inbound and 145,096 as outbound, making it a total figure of 288,492; October, 129,506 as inbound and 133,330 as outbound, totalling 262,836.
“November, 252,448 as inbound and 255,578 as outbound, making it a total of 508,026, while December had 56,568 as inbound and 63,322 as outbound, making it a total of 119,890 passengers ferried within the period.”
The NCAA report, according to AMCON, indicated that Arik Air recorded only one overbooking or denied boarding incident in 2024, which occurred in October.
“Also, a month-by-month breakdown of flights operated by Arik Air in 2024 showed that the airline had a total number of 380 flights in January 2024; 419 flights in February and 468 flights in March 2024,” the agency said.
“Further breakdown showed that for the month of April, the airline operated a total number of 340 flights; May, 374; June, 350, while it peaked in July, going as high as 1,403 flights in just one month.
“Besides, in August, the airline operated 1,320 flights; in September, 1,352; in October, 1,266; in November, 2,442, while it operated a total of 585 flights in December 2024. The airline within the period also had a total number of complaints among the air travellers, with just 190, with the majority being resolved by the airline.
“The further breakdown of complaints indicated that for the month of January, there were no single complaints from any of its air passengers ferried within the period, had just two complaints in February, while March recorded only one complaint.
“April had four complaints; May, two; June, one; July, three; August received seven complaints; September, 28; October, 50; November, 67, while December 2024 recorded only 25 complaints from the flying public.
“Besides, Arik Air did not record a single baggage miss in 2024, with all 84 delayed baggage items, as indicated by the NCAA statistics, handed over to their owners.”
Olumide Ohunayo, general secretary of the Aviation Safety Round Table Initiative, described Arik Air’s 2024 performance as exceptional, transporting 2.23 million passengers, which he said reflects the airline’s resilience and strategic management under challenging conditions.
“With a 13.4 percent market share out of the 11.5 million total domestic passengers, Arik Air’s sustained dominance highlights its strong operational efficiency,” Ohunayo said.
“This result demonstrates Arik’s operational stability under receivership. Despite financial constraints, distractive litigations, fleet limitations, and regulatory challenges, the airline continued to deliver reliable air travel services, showing effective route management and passenger demand optimisation.
“It should be noted that Arik Air suffered severe disruptions due to a high court order grounding some of its aircraft last year when mediation was a better option to the instantaneous grounding by the executive.”
Also, Roland Iyayi, managing director of Top Brass Aviation Limited, praised Arik Air’s feat, stating that securing the second position in Nigeria’s domestic market ahead of Ibom Air (1.3 million passengers), Max Air (915,918), and Aero Contractors (964,900) is a “huge and massive achievement” given its receivership challenges.
“Arik Air’s performance is remarkable given its limited access to fresh capital, ageing fleet, and regulatory hurdles tied to its receivership status,” Iyayi said.
“The Asset Management Corporation of Nigeria (AMCON) strategic support deserves recognition for its crucial role in stabilising Arik Air, ensuring its continued operations, and maintaining confidence among passengers.”
Iyayi credited AMCON’s intervention for Arik Air’s continued relevance in Nigeria’s aviation industry, preserving jobs, economic contributions, and ensuring safe services for travellers.
In January, the corporation said Arik Air and its affiliate companies had racked up debts exceeding N455 billion as of December 31, 2024.