Business
NCAA Suspends 10 Private Jet Operators Over Failure To Commence Rectification Process
The Nigeria Civil Aviation Authority (NCAA) has suspended 10 private jet operators over failure to commence the recertification process.
A statement signed by NCAA’s Director, Public Affairs and Consumer Protection, Michael Achimugu, said the suspension was rooted in its Nigeria Civil Aviation Regulations 2023 Part 18.3.4 which forbids holders of Permit for Non-Commercial Flights (PNCF) from using their aircraft for carriage of passengers, cargo or mail for hire or reward which is commercial operation or charter service.The suspended operators are Azikel Dredging Nigeria Ltd, Bli-Aviation Safety Services, Ferry Aviation Developments Ltd, Matrix Energy Ltd, Marrietta Management Services Ltd, Worldwide Skypaths Services, Mattini Airline Services Ltd, Aero Lead Ltd, Sky Bird Air Ltd and Ezuma Jets Ltd.The authority also warned that engaging PNCF holders for commercial purposes is illegal.
It said, “And It will not hesitate to initiate enforcement actions against any PNCF holder found guilty of illegal operations.”
In April, the NCAA suspended three private jet operators’ permits for commercial flights.The Acting Director General of the NCAA, Chris Najomo, at the time, said the Minister of Aviation and Aerospace Development, Festus Keyamo, gave marching orders for the cessation of the use of private jets for commercial purposes in 2023 but the operators continued in such act.“Subsequently, in March 2024, the NCAA had issued a stern warning to holders of the permit for non-commercial flights, PNCF, against engaging in the carriage of passenger-cargo or mail for hire and reward,” Najomo stated.“The Authority had also deployed its officials to monitor activities of private jets at terminals across the airports in Nigeria.
“As a consequence of this heightened surveillance, no fewer than three private operators are involved in violation of the annexure provision of their PNCF and Part 9114 of the Nigeria Civil Aviation Regulations 2023.“In line with our zero tolerance for violation of regulations, the Authority has suspended the PNCF of these operators.”
The regulator had also directed that all non-commercial flight permit holders be re-evaluated on or before April 19, 2024.
“All PNCF holders will be required to submit relevant documents to the authority within the next 72 hours.“This riot act is also directed at existing Air Operator Certificate (AOC) holders, who utilise aircraft listed on their PNCF for commercial charter operations.”The regulator stressed that only aircraft listed in the Operation Specifications of the AOC were authorised to be used in the provision of such charter services.“Any of those AOC holders who wish to use the aircraft for charter operations must apply to the NCAA to delist the affected aircraft from the PNCF and include it into the AOC operations specification.”The NCAA urged the travelling public not to patronise any airline charter operator who does not hold a valid Air Operator Certificate issued by the NCAA.
Business
Investors from 120 countries participate in Dangote Refinery’s IPO
Investors from all 54 African countries and five other continents participated in the offering, the company said.
Africa’s richest man Aliko Dangote has closed the continent’s biggest initial public share offering for the oil refinery, claiming to have raised funds from investors in 120 countries.
The IPO for the Dangote Petroleum Refinery was initially due to close on October 13 but was extended by two weeks to allow more Africans to participate. It closed today, Wednesday, October 27.
The company did not disclose how much money was potentially raised by the offering, after saying its target was $1.6 billion.
But Aliko Dangote said earlier this month that it had exceeded that goal by “more than three, four times”.
“This is a historic achievement for Africa. It shows what is possible when we believe in our continent, work together and invest in our shared future,” he said in a statement late Tuesday.
The massive refinery has a capacity of 700,000 barrels per day and aims to double its output to 1.4 million barrels per day, potentially making it the world’s largest refinery, surpassing the Jamnagar refinery in India.
Investors from all 54 African countries and five other continents participated in the offering, the company said.
“Investor applications spanning 120 countries demonstrate the extraordinary international interest in our business and the confidence that investors are placing in the future of this refinery,” Aliko Dangote said.
“The opportunity to own a stake in a major African industrial enterprise has reached investors across every African country and all six inhabited continents,” he added.
Business
Dangote Refinery’s IPO Ends Tomorrow
“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.
[File photo] Opening ceremony of Dangote Refinery’s IPO on the NGX, September 14,2026
Dangote Petroleum Refinery & Petrochemicals has confirmed that its Initial Public Offering (IPO) will close on Tuesday, 27 October 2026 as scheduled, with no extension.
In a statement, the management said that the IPO has become a historic ownership moment, an opportunity for Africans at home and abroad to own a stake in one of the continent’s most strategic industrial assets.
“Investors recognise that this refinery is not merely an energy asset. It is a platform for industrial growth, foreign-exchange generation, regional trade, energy security and economic development across Africa,” management said.
The offer was structured to ensure ordinary investors participate alongside institutions, broadening ownership of the world-class asset.
“The level of investor interest reflects growing confidence in our business and in the strong financial results we have delivered,” the company said.
Business
Dangote Visit London Stock Exchange Ahead of November Cement Listing
Unlike an initial public offering, a secondary listing would let Dangote Cement, already listed on the Nigerian Exchange, set up an additional presence in London.
Aliko Dangote visited the London Stock Exchange on Friday, October 23, 2026, as Dangote Cement Plc prepares a proposed $1 billion share sale and a secondary listing in the United Kingdom.
The company is reportedly targeting November 2026 for the listing, subject to market conditions and regulatory approval.
A video circulating on social media captured the visit, with exchange officials and attendees welcoming Africa’s richest man.
The trip is part of efforts to pull international investment into his business empire.
The proposed deal could see Dangote Cement offer about 10% of its equity to international investors, potentially raising roughly $1 billion.
The final timetable is not fixed and remains subject to market conditions and regulatory requirements.
Unlike an initial public offering, a secondary listing would let Dangote Cement, already listed on the Nigerian Exchange, set up an additional presence in London.
That could raise the company’s visibility with international institutional investors, including pension funds, asset managers and other investment firms.
The share sale has not been completed. Its final structure, valuation and pricing are still subject to confirmation.
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