General News
NB Aviation Conference Sues for Aircraft Management Expertise
Delegates at the just concluded, first ever, Nigerian Business Aviation Conference hosted by Evergreen Apple Nigeria (EAN) have called for more entrenched expertise in aviation industry, especially in aircraft management.
Achuzie Ezenagu, managing director, Toucan Aviation, a local operator that serves the oil sector stressed the need for aircraft management expertise in such a young market. “Don’t learn the hard way,” he said.
Leading a panel discussion at the event, Ezenagu, he suggested that very few of the aircraft based in Nigeria are using aircraft management companies which can leave owners exposed to not extracting maximum value from their asset.
“Management begins three or four months before the aircraft is purchased,” suggested Ezenagu and advised potential owners to recognise that experience in regulations, crewing, paperwork and safety amongst others will support the aircraft operations in a young business aviation sector.
The conference proved to be a resounding success for the organisers, delegates and speakers. The conference was designed to provide a platform for raising awareness of the growing business aviation industry in Nigeria and hosted by dynamic chair Alasdair Whyte provided attendees with a lively debate discussing a range of topics.
Segun Demuren, managing director and chief executive of hosts, EAN, opened the meeting outlining the need for a better understanding of the value of business aviation in Nigeria as an economic driver for the country and surrounding regions, and its significance in developing international business.
The finance session was led by Segun Agbaje, managing director, GT Bank Plc; he discussed the requirements of the bank when considering financing aircraft. Character and integrity of the customer is said to be as important as collateral and assets. Agbaje also noted that Nigeria had experienced “high octane growth” in the last few years making it the largest market for business jet purchase in Africa, even topping South Africa. “We are more used to financing rice and fish so aviation is a good way for us to expand business,” he commented.
The delegates also heard from the major OEMs in a panel featuring sales directors from sponsors Gulfstream, Embraer and Dassault alongside representatives of Bombardier and Cessna in the region. All remain optimistic about the future growth of sales in the region giving at least an eight out of ten when asked where on the scale of sales growth they positioned Nigeria. However the enthusiasm was tempered by the reality that in order to sell aircraft, service centre and maintenance were major considerations.
The expense of flying an aircraft to Europe or South Africa is a major factor for buyers when purchasing an aircraft. Colin Steven of Embraer underlined the need for support to train and identify local engineering specialists to support the expanding sector. The panel also suggested that there was a strong market for smaller aircraft in the region with over 50 small airfields available that can be used by the turbo prop and light jet community.
The issue of landing permits was covered by the Trip Planners panel which noted that currently permits can take between 48 – 72 hours to be granted.
Nwankwo Ifeanyi representing the Nigerian Airspace Management Authority (NAMA) said that a transformation agenda was in process and recognised that automation of this important issue would better serve the industry. Plans are in place to implement automation sooner rather than later he continued.
Segun Demuren wound up the day-long event thanking delegates for participating in this first-of-its-kind conference.
“Undoubtedly Nigeria is a significant player in the business aviation sector for Africa and will play an important part in the development of the sector in the region. This conference has demonstrated that whilst we have a lot of opportunity we are still very much in our infancy and must aim to build the infrastructure to support business aviation and the associated framework necessary to create a solid base.”
Demuren confirmed that the event had been more successful than he could have hoped for, and will be the first in a series of annual meetings. “Plans are already in motion for the 2014 NBAC event which we anticipate will be bigger and even better,” he said in conclusion. The event finished with a farewell networking dinner sponsored by Gulfstream.
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
Federal government will next month launch Nigeria’s first national organized crime strategy to strengthen the country’s response to terrorism, cybercrime, human and drug trafficking, kidnapping, illicit financial flows, and other forms of organized crime.
Major General Adamu Laka, national coordinator of the National Counter Terrorism Centre under the Office of the National Security Adviser, disclosed this in Abuja during the validation of the strategy document.
He said the strategy provides a coordinated national framework for tackling organized crime through improved intelligence sharing, stronger collaboration among security agencies, and closer cooperation with the criminal justice system, civil society organizations, and international partners.
Major General Laka explained that the document was developed through a partnership involving the Federal Government, the United Nations Office on Drugs and Crime (UNODC), the United States Government, and other stakeholders.
Speaking at the event, Cheikh Toure, UNODC representative, said the strategy would strengthen Nigeria’s capacity to combat transnational crimes, including drug trafficking, cybercrime, human trafficking, kidnapping, and illicit financial flows.
Also speaking, Douglas Grane, acting director of the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, reaffirmed the U.S. government’s support for Nigeria’s efforts to tackle organized crime through stronger inter-agency and international cooperation.
Representatives of the National Institute for Strategic Studies, the Nigeria Financial Intelligence Unit, and the National Cyber Security Centre also endorsed the initiative, describing it as a major step towards improving Nigeria’s fight against organized crime.
FATE Foundation, with funding from the Citi Foundation, has launched the Youth Entrepreneurship Incubation Programme to equip young people in Nigeria with financial literacy and entrepreneurship skills.
Delivered through free, safe, and accessible platforms, the programme supports the incubation and scaling of youth-led enterprises, enabling income generation and job creation.
In October 2025, FATE Foundation was selected as a recipient of Citi Foundation’s 2025 Global Innovation Challenge to Accelerate Youth Employability. Joining the cohort of 50 organisations globally, the Foundation will receive $500,000 over two years to advance its youth employability initiative.
“We are excited to be selected for Citi Foundation’s 2025 Global Innovation Challenge,” said Ayomide Akindolie-Igwe, Executive Director of FATE Foundation.
“This support enables us to equip young entrepreneurs in Nigeria with the financial literacy and skills needed to build and scale sustainable businesses.”
The programme addresses youth employability by tackling Africa’s growing jobs crisis. By 2030, the African continent will be home to 40% of the world’s youth, and with one in three under 35 already unemployed, this initiative will support Nigerian youth with a two-phase approach. It begins with financial literacy training before progressing to entrepreneurship development, incubation support, and access to tools needed to build viable, job-creating businesses.
“Through this innovative initiative, FATE Foundation is supporting low-income Nigerian youth to develop essential financial and entrepreneurial skills using accessible platforms.
“This support is not just helping individuals to succeed; it is building a solid foundation for sustainable enterprises that will drive job creation and contribute significantly to our nation’s economic vitality. This initiative is empowering and investing in the future of Nigeria, one youth at a time,” said Nneka Enwereji, MD/CEO Citibank Nigeria Limited.
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