Business
Sanwo-Olu Engages Chinese firm to refine Lagos Rice
image credit: Governor Babajide Sanwo-Olu/ X
The Lagos State Government has signed a Memorandum of Understanding (MoU) with Yihai Kerry Arawana Holdings Co. Limited, based in China, to enhance the Lagos Rice Mill in Imota, Ikorodu.
Ohibaba.com report that the MoU was signed on the sidelines of the Forum for the China-Africa Cooperation (FOCAC) in Beijing, China.
In a statement after the MoU was signed, Governor Babajide Sanwo-Olu, said : ” This collaboration is a significant step for us as we work to enhance the Lagos Rice Mill in Imota, Ikorodu. The goal is to elevate the rice value chain in Lagos State, and I believe this partnership will make a real difference.
“By teaming up with YKA, we’re tapping into their wealth of knowledge and technological advancements in rice milling and processing. They will provide technical, advisory support for the optimisation and efficiency of rice production using modern agricultural practices, training and other ancillary services.
Together, we can refine every aspect of the rice production process; from cultivation all the way to milling.
But this initiative is not just about efficiency; it’s about nurturing a sustainable and profitable ecosystem for everyone involved, from farmers to consumers.
Signing this MoU is a testament to our dedication to building international partnerships that bring innovative solutions and best practices into our agricultural sector.
I’m optimistic about the future and what we can achieve together.”
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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