Business

Aviation Minister Thanks UBA for Renovated MMIA Departure Section

Published

2 years ago

December 23, 2024

508 Views

United Bank for Africa (UBA) Plc has completed the renovation of the departure section of the Murtala Muhammed International Airport, Lagos.

It was officially commissioned by the Minister of Aviation and Aerospace Development, Festus Keyamo, on Friday, December 20th, 2024.

Keyamo commended UBA for executing the project, a feat he termed a landmark achievement in Nigeria’s aviation sector.

“This renovated departure section exemplifies the bank’s commitment to elevating aviation infrastructure, improving passenger experiences, and fostering international partnerships.

It is a proud moment for the ministry and all stakeholders involved, and I thank the management of UBA for pioneering this initiative,” he remarked.

The minister highlighted other key achievements of his ministry, including compliance with the Cape Town Convention, the launch of a consumer protection portal, and advancements in major infrastructure projects such as the second runway at Abuja Airport and solar energy integration in airport operations.

The Managing Director/CEO of FAAN, Olubunmi Kuku, commended UBA and other stakeholders for their contributions.

“This project reflects FAAN’s dedication to delivering world-class aviation infrastructure.

The enhanced departure section not only elevates passenger experiences but also strengthens Nigeria’s competitive position in global aviation,” she said.

UBA’s Group Managing Director/CEO, Oliver Alawuba, said ” Public-private partnerships like this demonstrate what can be achieved when we unite for a shared vision of progress and investing in infrastructure catalyses economic growth, improves travel experiences, and creates opportunities across various sectors of the economy.”

He added ” This renovation is a testament of UBA’s belief in the transformative power of investing in national assets.

By modernising our airports, we not only enhance infrastructure but also position Nigeria as a global hub for tourism, trade, and investment.”

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

133 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

172 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.