NLC threatens to shutdown airlines against unionism

The President of Nigeria Labour congress (NLC) Joe Ajaero, has threatened to picket and shut down some airlines that have refused to allow their staff member join affiliate aviation unions.

The NLC President, who disclosed this during a courtesy visit to the Association of Nigeria Aviation Professionals (ANAP) and Nigerian Union of Air Transport Employees (NUATE) in Lagos stressed that workers were allowed to join unions in the past, and now won’t be different.

He mentioned only a few airlines to include; Air Peace, Ibom Air and Dana Air.

“Give us a date to shut down the airlines that refused their workers to unionise. We have done it in the past. If they don’t allow their workers to unionise, they will cry.

“We will have a collective group from all the unions that will form professional picketers. We will hold people dealing with workers accountable,” he added.

Comrade Ajaero also lauded the Federal Government’s move to establish a national carrier, stressing the impact an over-reliance on foreign airlines has caused the country. However, he knocked the government’s decision to concession 4 airports.

“We have passed through privatisation and we know the danger so they are joking.

“I don’t think any human can concession the airport here without paying entitlement to the staff. Anybody that want to take over, is spending your money for nothing.”

Also speaking that NUATE President, Comrade Ben Nnabue, listed the challenges facing the union.

He further added that Arik Airlines and Azman Airline have refused their workers to unionise, saying that it is a big challenge in organizing the local airlines.

Comrade Nnabue also urged the Federal Government to provide more explanations regarding the proposed national carrier.

“There are some issues we want the government to explain because they cannot afford to run a national carrier and the entire management will be foreigners, it is no longer a national carrier. The government needs to bring out the agreement they have with these people,” he said.

United Capital proposes N9bn dividend for 2022

United Capital Plc will reward shareholders with a dividend payout of N9 billion, translating to N1.50 per every ordinary share for full year 2022.

The company released its audited financial results for the year ended December 31, 2022 on the Nigerian Exchange (NGX) Limited. In spite of economic oscillations, the company recorded impressive margins, with its gross earnings grew by 49 per cent year-on-year to N26.90 billion in 2022 from N18.07 billion in 2021.

Operating income stood at N24.39 billion in 2022, higher than N16.24 billion recorded in 2021. Profit before tax rose by 13 per cent to N13.50 billion as against N11.92 billion in 2021, while earnings per share stood at N1.61 in full year 2022.

Total assets for the company amounted to N601.92 billion, compared to N453.60 billion as at full year 2021, a growth of 33 per cent year-on-year, while shareholders’ fund grew by eight per cent to N32.99 billion from N30.55 billion in 2021.

Speaking on the Group’s performance, the Group chief executive officer of United Capital, Mr. Peter Ashade, said: “during the year 2022, we navigated a difficult terrain to sustain our earnings growth and deliver decent returns to shareholders while strengthening our organizational resilience to factors militating against business growth, particularly in emerging economies.”

Ashade noted that, “our operating environment despite the undulating landscape continues to present windows of opportunities for all our businesses in the locations we operate. This is accentuated by the 49 per cent growth in revenue to N26.90 billion which helped offset increased operating expenses resulting from very high inflation and severely impacted macroeconomic environment which we anticipated in Q4, 2022.”

He added that, “we remain upbeat about sustaining our performance in 2023 having kicked off the year in a robust financial position with close to N1 trillion funds under management comprising trusts, mutual funds, and other professionally managed investments for our clients across diverse segments.

“The Group is better positioned to deliver on our growth objectives while remaining competitive and sustainably profitable. We will continue to prioritize activities that create and preserve value for all our stakeholders into the foreseeable future.”