Tag: $25 billion

  • Senate passes Nigerian Airspace Management Agency Bill

    Senate passes Nigerian Airspace Management Agency Bill

    The Senate on Wednesday passed the Nigerian Airspace Management Agency Bill, 2022, following the adoption of the report of the Senate Committee on Aviation at plenary.

    Presenting the report, the Chairman of the Committee, Smart Adeyemi (APC-Kogi), said the bill sought to repeal Nigerian Airspace Management Agency Act, 2010 for the purposes of providing effective air navigation services in Nigeria.

    According to him, the NAMA bill is one of the six Aviation Executive Bills referred to the Committee by the Senate which are related to crucial matters of regulation, training, management, and safety of the Aviation Industry.

    “The issues that surround the Bill are significant in ensuring safe air travels and are part of efforts at enhancing the health and profitability of the overarching aviation sector and public benefit,” he said.

    He observed that the Act establishing NAMA came into effect on May 26, 1999, and had been in operation for 22 years.

    He said that the amendments to the NAMA Act 2010 were geared towards aligning the Agency to meet new operational requirements in the industry as stipulated by the International Civil Aviation Organisation, ICAO.

  • Indonesia president announces $25 billion spending to fight coronavirus

    Indonesia president announces $25 billion spending to fight coronavirus

    Indonesia’s President Joko Widodo, on Tuesday, said he had signed a regulation to let the government significantly raise spending in its fight against the coronavirus and widen the 2020 budget deficit to 5.07 per cent of GDP.

    Widodo also announced a national public health emergency and said the government would spend 405.1 trillion rupiahs ($24.85 billion) more on COVID-19 response, social welfare programmes and economic stimulus, including a three percentage point cut in corporate tax rates to 22 per cent.

    The emergency regulation is effective immediately, but parliament must approve it to turn it into law in its current session. (Reuters)