Safety: NCAA workers resume, conduct interdenominational prayer

BY Chukwuemeke Iwelunmo

The Nigeria Civil Aviation Authority (NCAA) has again commenced the year 2023 with interdenominational prayer, praying God to make the year accident free as the industry has enjoyed over the last decade.

The prayer held at the NCAA Aviation House in Lagos had in attendance senior officials of the aviation regulatory agency.

Muslim and Christian prayers were held to beseech the Almighty God to assist the NCAA in fulfilling its vision and mission.

Prayers were specifically held to help the management to effectively implement the new Civil Aviation Act (CAA) which was recently assented to by President Muhammadu Buhari.

The CAA 2022 repealed the 2006 CAA and captured several developments that had taken place in international civil aviation in the last 16 years.

It has changed the nomenclature of NCAA to Nigeria Civil Aviation Authority (NCAA) without an ‘A’ in Nigeria and also the Director-General is now addressed as DG, Civil Aviation.

The DG, CA, Capt. Musa Nuhu who joined the staff virtually implored the staff to continue to be dedicated and committed to duty in the task of facing the challenges ahead.

Manufacturing activity improved in December on strong demand

The Purchasing Managers Index (PMI) report, which gauges the level of activities in the real sector, has increased to 54.6 points in December on strong demand.

The report stated that customer demand improved again in the N rian private sector at the end of 2022, supporting further rapid increases in both new orders and business activity.

It added that “in turn, firms took on additional staff, albeit only slightly. Meanwhile, currency weakness continued to exacerbate cost pressures, subsequently feeding through to the second-fastest rise in selling prices since the survey began in 2014.”

The headline PMI reached 54.6 in December, up from 54.3 in Novsignallinggnaling a marked monthly improvement in business conditions across the Nigerian private sector. Moreover, operating conditions strengthened to the greatest extent since April 2022.

The headline figure derived from the survey is the Stanbic IBTC Purchasing Managers’ Index (PMI). Readings above 50.0 signal an improvement in business conditions in the previous month, while readings below 50.0 show a deterioration.

The report stated that “the rate of growth in new orders quickened to an eight-month high in December, linked by firms to stronger customer demand. With customer numbers and new orders rising, firms also increased their business activity at a sharper pace at the end of last year.

“Output rose across each of the agriculture, manufacturing, wholesale & retail and services sectors. Improvements in demand were sustained despite ongoing strong inflationary pressures. In particular, purchase costs increased at the fastest pace in four months amid rising prices for fuel and raw materials, exacerbated by currency weakness.

“In turn, companies increased their selling prices at a much faster pace, and one that was only surpassed by that seen in December 2021.”

Head of Equity Research West Africa at Stanbic IBTC Bank, Muyiwa Oni said, “the headline PMI rose 54.6 in December, up from 54.3 in November which continues to reflect an improvement in private sector business conditions. The improvement was essentially driven by stronger customer demand which consequently resulted in ted in the new orders growth rate reaching an eight-month high in December.

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“As a result of the higher level of demand, firms increased business conditions and output levels across various sectors (agriculture, manufacturing, wholesale & retail and servisectoroOne.”

Oni pointed out that “remarkably, stronger demand was sustained despite persistent inflationary pressures. Notably, purchase costs increased at the fastest pace in 4-m leading to companies increasing their output prices.

“Throughout the year 2022, headline inflation continued to rise till it reached 21.47 per cent year-on-year in November, driven by elevated energy and food prices, exacerbated by the Russia-Ukraine creation. In near term, inflation will likely remain elevated, significantly above the central Bank’s target range of six per cent to nine per cent, which would keep the monetary policy authorities hawkish aiming at containing surging price levels.”