General News
Air Peace Signs Multi-million Dollar Agreement with Boeing
Nigerian carrier, Air Peace, has signed a multi-million dollar agreement with aircraft manufacturers, The Boeing Company, for the purchase of 10 brand new B737 Max aircraft.
The agreement was signed on Thursday at the United States Consulate in Lagos by the Chief Executive Officer of Air Peace, Mr Allen Onyema and Boeing Sales Director for West and Central Africa, Mr Larry Tolliver.
Speaking at the ceremony, Onyema said each of the Max B737 aircraft cost $113 million, but Boeing was gracious to reduce it to an undisclosed amount for Air Peace following series of negotiations.
He said the procurement of the aircraft, which is the latest by Boeing, was being financed by Fidelity Bank and they would be deployed for Air Peace international operations.
According to him, the addition of the new planes, which will be delivered soon by Boeing, will increase Air Peace fleet to 37 aircraft in less than four years of operation.
Onyema said: “We have just signed an order for 10 B737 aircraft from Boeing. We are interested in creating employment for our people because one of the aircraft can create 500 jobs.
“We are trying to curb insecurity by creating job opportunities for our people. Air Peace currently has about 3,000 employees, and I believe that is part of our contribution to national development.”
He thanked the President Muhammadu Buhari-led administration for the support given to Nigerian airlines, noting that the anti-corruption campaign of the government had improved the confidence of the international community in Nigerian businesses.
Onyema, however, appealed to the government to find ways of establishing local refineries in order to reduce the high cost of aviation fuel which was affecting the operations of airlines in the country.
Also, the US Consul General, Mr John Bray, said the agreement between both companies would further deepen the relationship between Nigeria and the US.
Bray said it was a win-win situation for both countries because the deal would create about 3,000 jobs in Nigeria while about 5,000 jobs in the manufacturing sector would be created in the US.
On his part, Tolliver said the B373 Max aircraft was the fastest aircraft manufactured by Boeing and consumes about 40 per cent less fuel than other Boeing aircraft currently being used by Air Peace.
He said the aircraft also had passenger appeal because of the modern facilities onboard, stressing that Boeing would be supporting Air Peace with training and maintenance spares as part of the agreement.
Speaking on the financing of the procurement, the Managing Director of Fidelity Bank, Mr Nnamdi Okonkwo, said Air Peace had proven its integrity in previous loans given to the airline by the bank.
He said: “We are proud to have Air Peace as a customer because the airline has integrity and has always paid ahead of time in previous aircraft purchases financed by Fidelity Bank.
“I know some airlines have gone down in the past due to huge indebtedness to banks, but I can tell you that Air Peace is not owing anybody, and this is because of the prudence of the airline’s management. ”
The Federal Government has granted approval to Air Peace to begin flights to six international destinations which are London, Dubai, Sharjah, Guangzhou-China, Mumbai and Johannesburg in the next few months.
PalmPay has opened a new office at 33 Old Yaba Road, Lagos, reinforcing its commitment to innovation, customer service, and operational growth in Nigeria.
The new office represents a continued investment in PalmPay’s people, operations, and infrastructure, supporting the company’s ability to deliver reliable financial services at scale. Designed to accommodate PalmPay’s growing team, the workspace enables closer cross-functional collaboration while strengthening service delivery nationwide. Located in Yaba, one of Lagos’s most established commercial and technology corridors, the office further anchors PalmPay within Nigeria’s innovation and financial ecosystem.
Speaking at the office launch, Managing Director Chika Nwosu highlighted that the new workspace reflects PalmPay’s long-term vision and dedication to excellence. “This new office represents an important step in our growth journey and our commitment to building secure, reliable, and inclusive financial solutions for our users,” he said.
The launch event was attended by PalmPay’s leadership team, employees and customers, who toured the facility and marked the company’s continued growth and progress.
With the opening of its office at 33 Old Yaba Road, PalmPay continues to strengthen its presence in Nigeria and reaffirm its mission to drive financial inclusion through innovative digital solutions.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.
The Nigerian Aviation Handling Company Plc has announced the signing of a chain of contracts with major airlines for the provision of total handling solutions.
In a statement on Tuesday, the company announced the signing of contract renewals with Air France, KLM and Virgin Atlantic, as well as the African operator, RwandAir.
NAHCO also signed fresh contracts with United Nigeria – Regional, Bellagio and Malaikair.
According to the statement, the contracts with Air France and KLM are for three years and will run till 2028, respectively. The duration of the contract with Virgin Atlantic was also put at three years.
The duration for the RwandAir contract is for three years, effective 1 October 2025.
The statement read, “The new contract with United – Regional would be for a period of five years, effective from 1 August 2025. For Bellagio and Malaikair, the contracts are for three and five years, respectively.
“Bellagio Air, Nigeria’s rising star in aviation, is redefining air travel with a blend of luxury, efficiency, and reliability. Headquartered in the vibrant city of Ikeja, Lagos, Bellagio Air is committed to providing world-class service across key domestic and regional routes.”
The Group Executive Director, Commercial and Business Development, NAHCO Plc, Saheed Lasisi, who expressed his delight with the new contracts, said NAHCO is already ready to exceed customers’ expectations.
According to Lasisi, NAHCO’s more than 46 years of unblemished excellent service delivery puts it heads and shoulders above any other service provider in the industry.
“This is what we have been doing for almost half of a century. We will continue to delight our customers and make our stakeholders happy by exceeding expectations in all aspects of our service offerings. We are always willing and ready to do more,” Lasisi added.
The Group Managing Director/Chief Executive Officer, NAHCO Plc, Olumuyiwa Olumekun, added that with the new fleet of equipment the company is deploying, service delivery will only be better.
Nigerian Communications Commission (NCC) has unveiled a forward-looking strategy that places satellite-enabled mobile connectivity at the heart of the country’s drive to bridge its long-standing coverage gaps.
The draft Spectrum Roadmap for the Communications Sector for 2025 to 2030 lays out how satellite technologies could help deliver reliable voice and data services to millions of Nigerians who live beyond the reach of conventional mobile networks.
The direction is outlined in the Commission’s draft Spectrum Roadmap for the Communications Sector covering the period.
The proposed approach highlights non-terrestrial networks as a complement to existing mobile infrastructure, especially in areas where terrain, insecurity, or high costs limit the deployment of base stations.
The NCC said D2D satellite technology, which allows standard mobile phones to connect directly to satellites, is gaining traction globally as a means of delivering voice and data services without reliance on ground towers.
According to the regulator, the technology could help close persistent coverage gaps in rural, riverine, and border communities that remain outside the reach of conventional networks.
It also noted that satellite-backed connectivity could improve network reliability by providing alternative links during fibre cuts, power failures, or other disruptions affecting terrestrial systems.
The Commission added that wider adoption of D2D services could support emergency communications, public safety operations, Internet of Things applications, and services such as smart agriculture in underserved regions.
It also pointed to potential investment opportunities through partnerships between mobile network operators and satellite companies, including more efficient use of shared spectrum resources.
Beyond D2D services, the roadmap places emphasis on Low-Earth Orbit satellites to expand broadband access to remote parts of the country.
It also proposes better utilisation of Geostationary Orbit satellites and the exploration of high-altitude platforms, such as stratospheric balloons, to support mobile backhaul and rural connectivity.
The policy signals come shortly after Airtel Africa announced an agreement with SpaceX to introduce Starlink-powered direct-to-cell services in Nigeria.
The NCC’s roadmap is expected to shape future spectrum allocation, licensing decisions, and technology adoption across the telecommunications sector.
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