Nigerian airplane crash: All 153 on board dead

June 4, 2012

plane_crash

Lagos, June 4: A commercial airliner crashed into a densely populated neighbourhood in Nigeria's largest city on Sunday, killing all 153 people on board and others on the ground in the worst air disaster in nearly two decades for the troubled nation.


The cause of the Dana Air crash remained unknown Sunday night, as firefighters and police struggled to put out the flames around the wreckage of the Boeing MD83 aircraft. Authorities could not control the crowd of thousands gathered around to see the crash site, with some crawling over the plane's broken wings and standing on a still-smoldering landing gear.


Harold Demuren, the director-general of Nigeria's Civil Aviation Authority, said all on board the flight were killed in the crash. Lagos state government said in a statement that 153 people were on the flight traveling from Nigeria's central capital of Abuja to Lagos in the nation's southwest.

The flight's pilots radioed to the Lagos control tower just before the crash, saying the plane had engine trouble, a military official said. The official spoke on condition of anonymity as he was not authorized to speak to journalists.


Rescue officials feared many others were killed or injured on the ground, but no casualty figures were immediately available. Firefighters and local residents were seen carrying the corpse of a man from one building, its walls still crumbling and flames shooting from its roof more than an hour after the crash.


President Goodluck Jonathan later declared three days of national mourning in Africa's most populous nation.


Jonathan "prays that God Almighty will grant the families of the victims of the plane crash the courage and fortitude to bear their irreparable loss," a statement from his office read.


The aircraft appeared to have landed on its belly into the dense neighborhood that sits along the typical approach path taken by aircraft heading into Lagos' Murtala Muhammed International Airport. The plane tore through roofs, sheared a mango tree and rammed into a woodworking studio, a printing press and at least two large apartment buildings in the neighborhood before stopping.


A white, noxious cloud rose from the crash site that burned onlookers' eyes, as pieces of the plane lay scattered around the muddy ground.


While local residents helped carry fire hoses to the crash site, the major challenges of life in oil-rich Nigeria quickly became apparent as there wasn't any water to put out the flames more than three hours later. Some young men carried plastic buckets of water to the fire, trying to douse small portions. Fire trucks, from the very few that are stationed in Lagos state with a population of 17.5 million, couldn't carry enough water. Officials commandeered water trucks from nearby construction sites, but they became stuck on the narrow, crowded roads, unable to reach the crash site.


The dead included at least four Chinese citizens, the official Chinese news agency Xinhua reported late Sunday, citing Chinese diplomats in Nigeria. Officials at the Chinese embassy in Nigeria could not be reached for comment by the AP.


Nigeria, home to more than 160 million people, suffers from endemic government corruption and mismanagement. The nation also has a history of major aviation disasters, though in recent years there hasn't been a crash. In August 2010, the US announced it had given Nigeria the Federal Aviation Administration's Category 1 status, its top safety rating that allows the West African nation's domestic carriers to fly directly to the US.


But many travelers remain leery of some airlines. On Saturday night, a Nigerian Boeing 727 cargo airliner crashed in Accra, the capital of Ghana, slamming into a bus and killing 10 people. The plane belonged to Lagos-based Allied Air Cargo.


Officials with Lagos-based Dana Air did not respond to calls for comment Sunday night. The airline has five aircraft in its fleet and runs both regional and domestic flights. Local media reported a similar Dana flight in May made an emergency landing at the Lagos airport after having a hydraulic problem.


Nigeria has tried to redeem its aviation image in recent years, saying it now has full radar coverage of the entire country. However, in a nation where the state-run electricity company is in tatters, the power grid and diesel generators sometimes both fail at airports, making radar screens go blank.


Sunday's crash appeared to be the worst since September 1992, when a military transport plane crashed into a swamp shortly after takeoff from Lagos. All 163 army soldiers, relatives and crew members on board were killed.


The crash also comes as Nigeria, which became a democracy in 1999 after years of military rule, faces increasing sectarian bloodshed across its largely Muslim north from a radical Islamist sect known as Boko Haram. Earlier Sunday, a suicide car bomber killed at least 15 people and wounded dozens of others.


As night began to fall Sunday, more and more worried relatives of passengers arrived in the neighborhood, pushing their way down the crowded, narrow streets to make it to the crash site. One man stopped to ask about the crash, whether any passengers walked away alive.


His eyes grew wide when he heard no one escaped alive, his hand rising to his mouth. His brother was onboard.


"Oh God, we lost him," the man whispered, before slowly walking away.



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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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News Network
June 29,2020

Karachi, Jun 29: Four heavily-armed militants attacked the busy Pakistan Stock Exchange on Monday morning, killing four security guards and a police sub-inspector before being shot dead in an exchange of fire, media reports said.

The unidentified militants opened indiscriminate fire and lobbed hand grenades at the main gate of the building as they tried to storm it, Geo News reported.

Police said that all the terrorists have been killed while five persons injured in the attack.

Four security guards and a police sub-inspector were also killed in the attack.

"An unfortunate incident took place at the Pakistan Stock Exchange. They made their way from our parking area and opened fire on everyone," said Abid Ali Habib, Director of Pakistan Stock Exchange.

The firing by militants caused panic among the people in the building.

Sindh province Governor Imran Ismail condemned the incident.

"Strongly condemn the attack on PSX aimed at tarnishing our relentless war on terror. Have instructed the IG & security agencies to ensure that the perpetrators are caught alive & their handlers are accorded exemplary punishments. We shall protect Sindh at all costs," he said on Twitter.

Police and rangers have arrived on the spot and surrounded the area.

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Agencies
July 17,2020

Washington, Jul 17: US President Donald Trump's economic adviser Larry Kudlow has said that TikTok may cut off ties to its Chinese parent and become a 100 per cent American company to circumvent demands to ban it as India has done.

"I think TikTok is going to pull out of the holding company which is China-run and operate as an independent American company," he told reporters at the White House on Thursday.

The US has not made a final decision on whether to ban it - which has been suggested by Secretary of State Mike Pompeo, he said.

TikTok being divested by ByteDance Technology Company "is a much better solution than banning or pushing away", said Kudlow, who is the Director of the National Economic Council.

He said that its services will be located in the US and "it will become an hundred per cent American company".

If it becomes a US company without Chinese links, India may have to reconsider the ban on the short video app wildly popular in the country.

India banned TikTok along with 58 other Chinese apps on June 29 citing threats to its defence and national security.

The ban came after a deadly clash between Indian and Chinese troops along the Line of Actual Control in Ladakh.

Under Beijing's National Security Law, all Chinese companies have to provide intelligence requested by the government, creating risks for users and their countries.

India was TikTok's biggest market outside of China, where it operates as Douyin.

There were about 200 million users in India and over 300 million downloads.

The US comes next with over 30 million users for the app.

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