The Chief Executive Officer of XEJet, Emmanuel Iza, has disclosed plans to position Nigeria on the global map of aircraft manufacturing, repairs and operations.

“The vision is ambitious. It is to contribute to aircraft manufacturing, even if it’s just components like wings, landing gears, or tires.

Nigeria has the talent and ability; we just need the enabling environment and facilities to make it happen,” he said.

Iza spoke during the launch of XeJet’s Maintenance, Repair, and Overhaul (MRO) facility and flight support center in Abuja. 

He said: “Currently, XeJet employs about 300 people. With this new facility, we expect to quadruple that number.

First phase involves site preparation, including leveling the ground and constructing a taxiway to connect the runway to the facility, which is estimated to cost $5 million. The structure itself will require an equal investment.”

On the occasion, the Minister of Aviation and Aerospace Development, Festus Keyamo, noted that the move aligns with the federal government’s vision to support local operators and boost the nation’s aviation industry.

He said: ” Since we came to office, we’ve been focused on attracting MRO facilities to our aviation ecosystem, just as they exist in other parts of the world.

“We’ve searched far and wide for investors, but now we see that what we were looking for elsewhere is right here at home. This collaboration between XeJet and local banks is a dream come true.”

Keyamo added: “This development will not only serve Nigeria but will attract users from across the West African sub-region. That’s the dream—to make this facility a regional center for excellence.”

The Nigerian Communications Commission has approved requests from network operators for tariff adjustments in response to rising operational costs, marking the first change in rates since 2013.

The decision, announced in a statement signed by the Director of Public Affairs, Reuben Muoka, on Monday, allows for a maximum adjustment of 50% to current tariffs, significantly less than the over 100% proposed by some operators.

The NCC said it is exercising its authority under Section 108 of the Nigerian Communications Act, 2003 and emphasised that the new tariffs would remain within the limits outlined in its 2013 Cost Study.

According to the commission, the adjustments will also adhere to its 2024 Guidance on Tariff Simplification, ensuring transparency and fairness in implementation.

“The adjustment, capped at a maximum of 50 per cent of current tariffs, though lower than the over 100 per cent requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability.

“These adjustments will remain within the tariff bands stipulated in the 2013 NCC Cost Study, and requests will be reviewed on a case-by-case basis as is the commission’s standard practice for tariff reviews.

It will be implemented in strict adherence to the recently issued NCC Guidance on Tariff Simplification, 2024.

“Tariff rates have remained static since 2013, despite the increasing costs of operation faced by telecom operators.

The approved adjustment is aimed at addressing the significant gap between operational costs and current tariffs while ensuring that the delivery of services to consumers is not compromised,” the statement said.

The NCC noted that the adjustment was necessary to sustain investment in infrastructure and innovation, benefiting consumers through improved services, better network quality, and wider coverage.

“This decision was made after extensive consultations with key stakeholders across the public and private sectors,” Muoka stated, adding that the commission prioritised balancing consumer protection with industry sustainability.

While recognising the financial pressures faced by Nigerian households and businesses, the NCC mandated operators to implement the new rates transparently and educate consumers on the changes.

Operators are also required to demonstrate measurable improvements in service delivery as part of the adjustments.

“Recognising the concerns of the public, this decision was made after extensive consultations with key stakeholders across the public and private sectors.

“The NCC has prioritised striking a balance between protecting telecom consumers and ensuring the sustainability of the industry, including the thousands of indigenous vendors and suppliers who form a critical part of the telecommunications ecosystem.

“The NCC recognises the financial pressures faced by Nigerian households and businesses and remains deeply empathetic to the impact of tariff adjustments.

To this end, the commission has mandated that operators implement these adjustments transparently and in a manner that is fair to consumers. Operators are also required to educate and inform the public about the new rates while demonstrating measurable improvements in service delivery,” it added.

The commission underscored its commitment to fostering a resilient and inclusive telecommunications sector.

“Beyond protecting consumers, the commission’s actions are designed to ensure the long-term sustainability of the industry, support indigenous vendors and suppliers, and promote the overall growth of Nigeria’s digital economy,” the statement added.

The NCC assured Nigerians of continued engagement with stakeholders to maintain a telecommunications environment that protects consumers while enabling the ecosystem that drives connectivity across the nation.

Consider Tunde’s story. Tunde, a hopeful investor, trusted in promises and skipped due diligence.

He ended up with land under government acquisition, facing the bitter consequences of a hasty decision.

His story echoes through the real estate market, serving as a cautionary tale to those who believe shortcuts are harmless.

As a realtor with years of experience, I’ve seen many lessons in real estate, and Tunde’s story is one of them.

In September 2020, Tunde reached out to me after reading one of my articles.

He was thrilled about buying land in Folu Ise village, Ibeju-Lekki, because it was very cheap—just around N300,000.

I advised him to verify the land’s documents to ensure it wasn’t under government acquisition.

However, because the real estate company behind the deal was popular,

Tunde chose to trust them and rushed into the purchase.

Later, Tunde found out the land was under government acquisition and couldn’t be used.

He lost a significant amount of money and learned a painful lesson.

Unfortunately, this wasn’t an isolated case—many investors who bought land in that location around that time have faced similar losses.

This is why working with an experienced and thorough realtor is crucial. I ensure my clients avoid these pitfalls and make secure, informed investments.

Whether you’re a first-time buyer or a seasoned investor, taking the time to verify, investigate, and confirm every aspect of a property before purchasing is a prudent decision that can save you from heartache and financial ruin.

It’s a humid afternoon in Lagos, and you’re sitting across from a beaming seller at a bustling cafe.

He’s selling you a dream—a piece of land in a prime location, promising high returns and a secure future.

The deal seems too good to pass up. Excited by the possibilities, you shake hands, exchange money, and leave with a sense of accomplishment. But what happens next?

Months down the line, reality hits hard. You receive a letter from a government agency claiming ownership of the land.

The seller has disappeared, and your dreams of building a home or starting a business are shattered.

The money you invested seems irretrievable, and legal battles loom ominously on the horizon.

The regret sinks in—why didn’t you verify everything before signing the dotted line?

Skipping due diligence before buying property in Nigeria can lead to devastating legal problems.

It’s not just about securing a good deal; it’s about protecting your investment, your future, and your peace of mind.

The Heartbreak of Legal Issues Imagine the emotional turmoil of realizing that the property you thought was yours is entangled in legal disputes.

The stress of navigating complex legal systems, the financial burden of legal fees, and the uncertainty of the outcome can weigh heavily on anyone.

It’s a scenario that no one wants to experience, yet many unwitting buyers find themselves in precisely this predicament.

Why Due Diligence Matters

Due diligence isn’t just a formality—it’s your shield against potential disasters.

Here’s why taking the time to investigate before buying property in Nigeria is crucial:

1. Verifying Ownership and Title The first step in due diligence is confirming that the seller has legal ownership of the property and can transfer that ownership to you.

In Nigeria, where land ownership can be contentious and documentation irregular, verifying the title is non-negotiable.

Without this step, you risk buying property that someone else may claim as theirs, leading to legal battles that could tie up your investment indefinitely.

2. Uncovering Hidden Liabilities Properties can come with hidden liabilities such as unpaid taxes, mortgages, or pending litigation. Without due diligence, you might inherit these financial burdens along with the property. Imagine buying what seems like a lucrative plot of land, only to discover hefty tax bills or unresolved disputes that threaten your financial stability.

3. Ensuring Compliance with Regulations Local regulations, zoning laws, environmental restrictions—these are just some of the regulatory aspects that can affect your property’s use and value.

Ignoring these factors can result in penalties, restrictions on developmand ent, or even demolition orders. Due diligence ensures that the property you intend to buy aligns with your plans and complies with all legal requirements.

4. Assessing Market Value A property’s market value isn’t always what it seems. Sellers may inflate prices, especially in high-demand areas or emerging markets.

By conducting due diligence, including market analysis and comparative valuations, you can negotiate from a position of knowledge.

Knowing the true value protects you from overpaying and ensures that your investment is financially sound.

5. Protecting Your Peace of Mind Investing in real estate should be exciting, not anxiety-inducing.

Proper due diligence provides peace of mind, knowing that you’ve done everything possible to safeguard your investment.

It’s about making informed decisions rather than taking blind risks, ensuring that your property purchase is a step towards your goals, not a leap into uncertainty.

Conclusion

In the fast-paced world of real estate investment in Nigeria, due diligence isn’t just advisable—it’s essential.

It’s the difference between a successful transaction and a costly mistake.

Whether you’re a first-time buyer or a seasoned investor, taking the time to verify, investigate, and confirm every aspect of a property before purchasing is a prudent decision that can save you from heartache and financial ruin.

So, before you sign that contract or transfer that payment, ask yourself: Have I done my due diligence?

The answer could make all the difference in your real estate journey.

Written by Dennis Isong, your trusted advisor in Nigeria’s real estate market.

Let’s ensure your next investment is a smart and secure one.

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Your future deserves the assurance of due diligence.