Business
JUST IN : Traders Resist Takeover of Lagos International Trade Fair Complex By LASG
The ASPAMDA Market within the complex—one of the largest spare parts markets in Lagos—was among the sections affected by the shutdown.
Commercial activities at the Lagos International Trade Fair Complex were disrupted on Wednesday as traders shut down the facility while protesting a proposed takeover of the market’s management by state and local government authorities.
The traders said they were concerned about the implications of the planned arrangement, including possible new levies and taxes that could affect their businesses.
Many traders insisted that the complex is a federal facility and called for further consultations before any changes to its management structure are implemented.
The development led to the closure of shops across the complex, leaving hundreds of traders gathered around parks and garages within the market premises as discussions continued.
The ASPAMDA Market within the complex—one of the largest spare parts markets in Lagos—was among the sections affected by the shutdown.
Eyewitnesses said traders began the protest early in the morning by locking up their shops and stalls to draw attention to their concerns over the proposed changes.
We are not against development, but we are concerned about the possible levies and taxes that may be introduced if the management structure changes,” a trader who identified himself as Emeka Onu said.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, visited the market during the day as part of efforts to engage with traders and encourage the reopening of the complex.
Before commencing her tour of the market, the minister urged that the gates of the complex be opened to traders, stating that her visit was aimed at interacting with stakeholders and supporting the smooth conduct of business activities.
Business
Enugu Air Begins London Gatwick flights From December 10, 2026
The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.
Enugu Air will begin direct flights to London Gatwick on December 10, 2026, with four services weekly.
Tickets are already available for booking.
The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.
The service is being delivered through a strategic partnership with Omni-Blu Aviation (OBA).
The airline said the service will improve international travel connectivity for passengers departing from Lagos, Enugu and other parts of Nigeria.
Passengers from Enugu will be able to begin their international journey to London from their home airport, Akanu Ibiam International Airport.
The four weekly flights are expected to give travellers greater flexibility between Nigeria and the United Kingdom.
Enugu Air Chief Executive Officer Captain Tolu Ita said: “The commencement of our London Gatwick service reflects our commitment to expanding international connectivity and the vision of His Excellency, Governor Peter Mbah, to connect Enugu to more opportunities across the world.”
He added: “Of particular importance is ensuring that passengers from Enugu can begin their international journey to London from their home airport, Akanu Ibiam International Airport. We are proud to make the journey from Enugu to London Gatwick a reality for our passengers.”
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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.
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.
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.
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.
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