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Air Peace Achieves IATA’s IOSA Certification for Sixth Consecutive Times

The IOSA certification, which is renewed regularly by airlines, presumes that the airline operates with the highest standard of safety.

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Air Peace has achieved its sixth consecutive International Air Transport Association (IATA) Operational Safety Audit (IOSA) certification.

The IOSA certification, which is renewed regularly by airlines, presumes that the airline operates with the highest standard of safety.

Speaking at the presentation ceremony, Dr. Samson Fatokun, IATA’s Regional Director for West and Central Africa, commended Air Peace for consistently meeting the stringent safety requirements.

Fatokun stated that when it comes to global safety standards, Air Peace stands shoulder to shoulder with aviation giants and the best airlines in the world.

He noted that the IOSA certification process, conducted by independent external auditors, is one of the most rigorous assessments in the industry, designed to ensure compliance with international safety and operational standards.

According to him, Air Peace has not only maintained but surpassed expectations, earning a reputation for safety that places it on a pedestal in the international aviation sectors.

Fatokun further emphasized that achieving and renewing the IOSA certification is no small feat, as many airlines struggle to maintain compliance after initial success.

He urged other Nigerian airlines to follow Air Peace’s example, noting that prioritizing safety and operational integrity would elevate the entire industry and enhance Nigeria’s reputation in global aviation.

The Chairman/CEO of Air Peace commended the Nigerian government, particularly the Minister of Aviation, for creating a supportive environment that encourages the growth of local airlines.

He called on other airlines to strive for IOSA certification, which not only validates their safety processes but also positions them as credible competitors on the global stage.

According to him, this milestone is not just a badge of honor for Air Peace but also a source of pride for Nigeria, showcasing the country’s ability to produce world-class airlines capable of holding their own among global giants.

Onyema further expressed his profound gratitude to God, the staff, and the management for their relentless efforts in sustaining this remarkable milestone.

He described the certification as a testament to Air Peace’s unwavering dedication to operational excellence and its commitment to prioritizing the safety and comfort of passengers.

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Abuja surpasses Lagos in FDI destination- NBS

Following Lagos were Ogun State with $7.95 million, Oyo with $7.81 million, and Kaduna with $4.06 million.Overall, Nigeria recorded a total capital importation of $5.64 billion in Q1 2025 — a 67.12 percent increase from the $3.37 billion reported in Q1 2024.

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Abuja has overtaken Lagos as Nigeria’s top destination for foreign capital inflow, according to the Q1 2025 Capital Importation report released by the National Bureau of Statistics (NBS).

The report revealed that the Federal Capital Territory (FCT) attracted $3.04 billion in capital importation during the first quarter of 2025, surpassing Lagos, which drew $2.54 billion in the same period.

This marks the first time Lagos has lost its long-standing position as the country’s number one hub for foreign investment.

Following Lagos were Ogun State with $7.95 million, Oyo with $7.81 million, and Kaduna with $4.06 million.Overall, Nigeria recorded a total capital importation of $5.64 billion in Q1 2025 — a 67.12 percent increase from the $3.37 billion reported in Q1 2024.

Compared to Q4 2024, which recorded $5.08 billion, capital inflow rose by 10.86 percent.

In the NBS report, Portfolio Investment accounted for the largest share at $5.20 billion (92.25 percent), followed by Other Investments at $311.17 million (5.52 percent).

Foreign Direct Investment (FDI) was the lowest contributor with $126.29 million (2.24 percent).

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Afreximbank Strengthens Dangote Refinery with US$1.35 Billion Loan

“This refinancing strengthens our balance sheet and accelerates with ease the refinery’s supply of high-quality refined petroleum products across Africa, ” said Aliko Dangote.

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• Aliko Dangote and Benedict Oramah

African Export-Import Bank (Afreximbank) has contributed US$1.35 billion of the US$4 billion syndicated financing arrangement for Dangote Industries Limited (DIL) to refinance the Dangote Petroleum Refinery and Petrochemicals Complex.

Commenting on the development, Professor Benedict Oramah, President & Chairman of Board of Directors at Afreximbank, said:“With this landmark deal, we once again demonstrate that Africa’s development can only be meaningfully financed from within.

“It is only when African institutions lead the way that others can follow.

The journey to utilise African resources for its own economic transformation is well underway.

Through the Bank’s funding support, we are enhancing the capacity of the Dangote Refinery and Petrochemical Industries Ltd to produce and supply high quality refined petroleum products to the Nigerian market, as well as for export to the entire continent and the world. Our energy security is in sight.”

Aliko Dangote, President/Chief Executive, Dangote Industries Limited, added:“Afreximbank’s contribution to this milestone financing underscores our shared vision to industrialize Africa from within.

“This refinancing strengthens our balance sheet and accelerates with ease the refinery’s supply of high-quality refined petroleum products across Africa, ” said Aliko Dangote.

Afreximbank acted as the Mandated Lead Arranger, for the syndication.

This financing— one of the largest syndicated loans in recent African financial markets—will refinance capital expended on constructing

The financing alleviates initial operational expenditures and enhances DIL’s balance sheet, supporting its continued growth trajectory.

Afreximbank contributed US$1.35 billion, the largest share among participating banks, underscoring its commitment to large-scale infrastructure that advances Africa’s industrialization, energy security, and intra-African trade.

Since operations at the refinery complex began in February 2024, Afreximbank has continued to support the Dangote Refinery by providing key financing solutions—for crude supply and product offtake—ensuring uninterrupted operations and reinforcing its role in Africa’s most significant refining intervention.

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Marketers, Retailers fight dirty as Fuel price nears N1,000 per litre in Nigeria

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Petroleum product marketers and retailers are trading blame as the premium motor spirit pump price nears N1,000 per litre in Nigeria.

On Monday, it was reported that the Nigerian National Petroleum Company Limited retail outlets across the country increased fuel prices.

In Abuja, Nasarawa, and Kogi states, the NNPCL petrol pump price jumped by N65 per litre to N955 per litre on Monday from N890 dispensed at the weekend.

IPMAN, PETROAN give reasons for fuel price increase:

The latest fuel price hike in Nigeria has been blamed on several reasons, including the fall in global crude oil price, the exchange rate, the Dangote Refinery, and the Depot Owners petrol ex-depot price increase.

While the Independent Petroleum Marketers of Nigeria blamed the exchange rate for the latest fuel price hike, the Petroleum Products Retail Outlets Owners Association of Nigeria blamed Dangote Refinery’s pricing system.

The spokesman of IPMAN and the National President of PETROAN, Chinedu Ukadike and Billy Gillis-Harry, respectively, made these perspectives known in separate interviews on Monday.

Ukadike partly attributed the recent fuel price hike to forces of demand and supply in a deregulated downstream oil industry.

He noted that the latest price adjustment is not unconnected to price reviews at petrol depots and the Dangote Refinery.

“Fuel prices went up due to forces of demand and supply.

Supplying Depots and Dangote Refinery have increased their ex-depot petrol prices.

“The cost of the Dollar is the reason for the price hike for depot owners.

“For Dangote Refinery, I can’t say categorically, but it may not be unconnected to the price of crude oil; you know the plant imports the bulk of its crude oil.

“As of Friday, Dangote Refinery is N858 per litre, NIPCO (N870), Aiteo (855), and Ranoil (N865),” he said.

On his part, Gillis-Harry blamed the Dangote Refinery pricing mechanism for the latest fuel price hike.

“We should be looking at proper fuel pricing because what the Dangote Refinery is doing is not proper pricing,” he said.

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