Business
Emirates Reviews One Year Of Premium Economy Flights
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In August 2022, Emirates Airlines introduced Emirates Premium Economy product for travellers.
This month Emirates is celebrating this banner first year of full-service operations with the highly popular cabin class, introduced one year ago.
Here are some glimpse of the success story :
- Customers’ preference for the Premium Economy has surged to a record high, with over 160,000 trading up, thereby setting new industry benchmarks in Premium Economy travel.
- Premium Economy product is currently available on flights to 11 cities, with the list growing to 13 cities by the end of the year, as more retrofitted aircraft with refreshed cabins roll into scheduled service.
- Nearly half of customers flying in Emirates Premium Economy are solo travellers venturing off for holidays, while couples and families constitute the other half.
- More than 60 percent of customers who booked to fly in Premium Economy in the last year were also loyal Emirates Skywards members and regular customers of the airline.
- Emirates currently flies its A380s with the latest Premium Economy cabins to London Heathrow, Sydney, Melbourne, Auckland, Christchurch, Singapore, Los Angeles, New York JFK, Houston, San Francisco and Dubai, with flights regularly registering full seat loads in Premium Economy.
- The airline plans to make Premium Economy available to customers flying to/from Mumbai and Bengaluru from 29 October, and additional cities will be announced soon.
- Emirates currently operates 20 aircraft fitted with Premium Economy, 14 of which were retrofitted in-house by the Emirates Engineering team in Dubai over the course of the last nine months.
- Since August 2022, the airline has operated close to 4,500 flights with Premium Economy, traversing more than 36 million kilometres around the globe.
On those flights, over 192,000 meals from its carefully curated menus which include the finest ingredients were served to customers who enjoyed regionally inspired, generously portioned dishes.
Unique touches include indulgent desserts garnished with edible gold leaf, among other signature offerings.
Premium Economy menus are updated every month to ensure a diversity of flavours and dishes, especially for well-travelled customers.
- Over 126,000 pieces of chocolates were served to round off meals for Premium Economy customers.
- Emirates also served 6,700 kilograms of mixed nuts and 8,650 litres of complimentary fresh lemon and mint juices in Premium Economy.
The airline’s robust beverage selection in Premium Economy includes a global exclusive for Emirates customers, Australian sparkling wine, Chandon Vintage Brut 2016, alongside a choice of a unique white and red wine.
The airline’s philosophy to constantly innovate and redefine service excellence through the introduction of Premium Economy has earned it numerous top placings and accolades in the cabin category at the 2023 Skytrax Awards, Business Traveller awards, Airline Ratings Excellence Awards, and 2022 Business Traveller Middle East awards.
In May, Emirates launched a global campaign with Academy Award winning actor and philanthropist Penelope Cruz, which also featured her enjoying the spacious seats in Premium Economy.
The airline has also provided a glimpse of its Premium Economy offering through guided tours of the new cabin class to media and influencers, trade partners, airport, tourism and government officials across cities like Sydney, Melbourne, Auckland, Christchurch, Singapore, New York JFK and San Francisco.
Future Outlook
The Premium Economy roll-out is a core component of the airline’s multi-billion-dollar retrofit programme which will see the interior upgrade on 67 Emirates A380 cabins, as well as 53 Boeing 777 cabins.
By the end of the programme, over 4,000 Premium Economy seats will be installed, along with over 700 First Class suites and 5,000 Business Class seats refurbished with the latest interiors.
Business
The Buy-and-Hold Strategy for Lagos Real Estate Investors by Dennis Isong
Population is increasing, businesses are expanding, and land is becoming more valuable. If done right, a buy-and-hold strategy can secure long-term wealth for any investor.
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If you’re thinking of making serious money in Lagos real estate, you must understand one of the most reliable strategies: buy-and-hold.
This is when you buy a property, hold it for years, and allow its value to appreciate while earning rental income.
Lagos is a dynamic and ever-growing city.
Population is increasing, businesses are expanding, and land is becoming more valuable. If done right, a buy-and-hold strategy can secure long-term wealth for any investor.
Why Buy-and-Hold Works in Lagos Land and Property Appreciate Fast Lagos is a land of gold—figuratively.
With high demand and limited land space, properties in strategic locations appreciate fast.
If you bought land in Lekki Phase 1 twenty years ago, you could sell it today for more than 20 times the original price.
The earlier you buy, the better. Steady Rental Income Lagos is home to millions of people, and many prefer renting rather than buying.
A well-located property can generate steady rental income that grows over time.
The more people move into Lagos, the higher the rental demand.
Beating Inflation Nigeria’s economy has its ups and downs, but real estate always finds a way to stay ahead of inflation.
While the value of the naira fluctuates, properties continue to appreciate. This makes real estate a safe hedge against inflation.
Steps to Succeed in the Buy-and-Hold Strategy
1. Pick the Right Location Lagos has different property markets. Some areas grow faster than others.
Choose a location based on your investment goal.● For rapid appreciation: Look at developing areas like Ibeju-Lekki, Epe, or parts of Ikorodu.● For steady rental income: Invest in places with high demand for rentals, like Yaba, Surulere, Lekki, or Ikeja.● For luxury and long-term gains: Consider high-end areas like Ikoyi, Banana Island, or Victoria Island.
Do your research, visit the location, and study the growth trends before investing.
2. Buy from a Trusted Source Lagos real estate is lucrative, but it’s also filled with scams.
Many investors have fallen victim to land disputes or properties with unclear titles.
Ensure that the property has proper documentation—like the Certificate of Occupancy (C of O) or a Governor’s Consent.
Work with a reliable real estate professional who understands the Lagos market.
Don’t fall for “cheap deals” without verifying ownership.3. Decide Between Land or Built Property ● Buying land is great for long-term appreciation. You can hold it for years and sell later at a higher price.● Buying a house or apartment gives you immediate rental income while still appreciating in value.
If you have the patience to wait, land investment is powerful. If you want regular cash flow, go for rental properties.
4. Maximize Rental Income If your goal is passive income, make your property attractive to tenants. Consider:● Security: Lagos tenants prioritize safety.● Amenities: Good roads, water supply, and electricity boost rental value.● Short-let options: Platforms like Airbnb can give you higher returns, especially in areas like Lekki and Victoria Island.
If your property is well-maintained, you’ll attract quality tenants and increase your rental value over time.
5. Be Patient and Think Long-Term Real estate is not a quick-money scheme. The buy-and-hold strategy requires patience. Lagos properties appreciate, but it takes time.
Many investors regret selling too early when they see the prices skyrocketing years later.
Think of real estate like fine wine—it gets better with time. Potential Risks and How to Overcome Them Government Policies Policies like land use charges or demolitions can affect investments.
Stay updated with real estate laws in Lagos. Work with professionals to ensure your property is compliant.
Maintenance Costs
If you own rental property, you’ll need to maintain it. Set aside funds for repairs and upgrades to keep it attractive to tenants.
Bad Tenants
Some tenants may refuse to pay or damage your property.
Screen tenants properly before renting out your property, and have a solid lease agreement.
The buy-and-hold strategy is a proven way to build wealth in Lagos real estate. It allows you to generate rental income while your property appreciates in value.
With proper planning, the right location, and patience, your investment will reward you in the long run.
So, are you ready to secure your future with Lagos real estate? Start now—because five years from today, you’ll wish you had.
Dennis Isong and team.
+2348164741041+2348028667565
Business
President Pledges Support for Fintech Companies As Flutterwave Seeks Listing on NGX
The CEO of Flutterwave, Agboola, said the company has made it easy for Nigerians to pay for some global services with Naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.
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▪︎In picture: President Bola Ahmed Tinubu, Minister for Finance and Coordinating Minister of the Economy, Mr Wale Edun, Chief Executive Officer Flutterwave, Mr Olugbenga Agoola and CEO Alami Capital, Miss Olu Seun Olufemi-White, after a Meeting at the Presidential Villa Abuja.
President Tinubu said his administration will support businesses in the financial technology sector that provide payment infrastructure services for Nigerians and Africans.
He said this when he received the leadership of Flutterwave and Alami Capital in Abuja on Saturday afternoon.
Flutterwave, a leading Fintech company founded by young Nigerians and headquartered in Lagos, operates in the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries. Olugbenga Agboola, the CEO; Adeleke Adekoya, a co-founder; Oluwabankole Falade and Mitesh Popat, represented Flutterwave at the meeting.
Ms Oluseun Olufemi-White represented Alami Capital as its CEO. Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun led the delegation to meet President Tinubu.
Dr. Armstrong Ume Takang, the Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, the Director General/ Chief Executive Officer of the National Information Technology Development Agency (NITDA), also attended.
President Tinubu said Nigeria is genuinely open to business, and as President, he is determined to remove all obstacles to allow companies to thrive.
He commended Flutterwave’s commitment to building capacity in the digital economy sector, especially as it is being made possible by energetic, young Nigerians.
He said he is honoured to be the President of a country with such a youthful and resourceful population.
He said the leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for most of its population.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said Flutterwave has made significant progress since its establishment 10 years ago.
It has created jobs and helped diversify the economy by providing innovative digital platforms and payment services in Nigeria and across Africa.
The CEO of Flutterwave, Agboola, said the company has made it easy for Nigerians to pay for some global services with Naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.
He said Flutterwave, valued at over $3 billion, is a Nigerian export and brand employing over 1,000 Nigerians.
He said the company seeks to be listed on the Nigerian Exchange and solicited the President’s support.
The Managing Director and Chief Executive of MOFI, Dr. Armstrong Ume Takang, said that as Africa’s biggest economy, Nigeria must demonstrate its economic prowess by strategically positioning products and services by Nigerian companies, such as Flutterwave, in the homes of all Africans.
He said Flutterwave spends millions of dollars monthly on hosting services, but that money goes to other countries.
He suggested supporting Galaxy Backbone’s hosting services to enable it to handle companies like Flutterwave.
Business
FG Mandates IRWG to Revives over 700 Moribund Industries
The 22-member IRWG team was inaugurated in Abuja, on Thursday this week, by Senator John Owan Enoh, Minister of State for Industry, and co-chaired by Francis Meshioye, President of the Manufacturers Association of Nigeria (MAN).
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The Director-General of the Manufacturers Association of Nigeria (MAN) has affirmed that the recently inaugurated Industrial Revolution Working Group (IRWG) by the Federal Government, will go a long way in “waking up those more than 700 industries that have been shutdown for one reason or the other across the manufacturing sector and ensure that they don’t leave the country or be shut again”.
Ajayi-Kadir, expressed the confidence during the launch of the IRWG members team, saying that the group would ignite the revival in the sector and ensure the creation of an environment that is conducive.
The 22-member IRWG team was inaugurated in Abuja, on Thursday this week, by Senator John Owan Enoh, Minister of State for Industry, and co-chaired by Francis Meshioye, President of the Manufacturers Association of Nigeria (MAN).
Other members of the group include the Permanent Secretary of the Ministry of Industry, Trade and Investment. , representatives from the Ministry of Power, the Ministry of Finance, MAN, the Nigeria Customs Service (NCS), the Nigeria Ports Authority (NPA), the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACIMMA), and others.
IRWG Mandates
The Minister said that the mandates of the revolution group are :
1. Rejuvenate, innovate, and elevate Nigeria’s industrial future.
2. The IRWG would focus on addressing regulatory bottlenecks, power supply issues, and customs procedures.
3. The IRWG should anchor its efforts on four pillars which include revitalizing dormant industries, infrastructure, and energy solutions, technology innovation, access to finance, and competitiveness.
4. Conduct meticulous audits of industries that once thrived but have since stagnated.
5. Formulating bespoke intervention strategies for their resurgence.
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