Business
XeJet Eyeing Aircraft Components Manufacturing in Nigeria, After Launch of MRO Facility In Abuja
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.
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.”
Business
OPay launches new office in Jos
” Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”
OPay has officially launched its new office in Jos, Plateau State.
Speaking at the event, OPay’s Chief Operations and Technology Officer, Dotun Adekunle, said that the new Jos office reflects OPay’s continued commitment to putting customers first and advancing financial inclusion across Nigeria.
He said :” Our customers are at the center of everything we do.
Opening this office in Jos allows us to stay closer to the people we serve, better understand their needs, and continue to provide fast, secure, and reliable financial services that improve everyday life.”
Business
Governor Otti Commissions Ultimum Manufacturing Plant in Aba
Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.
Ultimum Limited, the manufacturers of Razzl brand of carbonated soft drinks has commissioned its state-of-the-art beverage manufacturing plant in Aba, Abia State.
Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon.
Located in the Osisioma Industrial Layout, the new plant was commissioned by the Governor of Abia State, Dr. Alex Chioma Otti.
Otti described the investment as a clear signal of economic revival and growing investor confidence in Abia State.
“This investment confirms that we are creating the right conditions for businesses to grow, thrive, and succeed. Investors will always go where there is clarity, stability, and opportunity.
Our focus has been to build that environment, and today’s commissioning shows that the strategy is working,” he said.
The Chairman of Ultimum Limited and representative of the investor group, Mr. Whalen Kadji, emphasized the company’s long-term commitment to Aba and Nigeria.
“We did not come here by chance. We came because of the energy and entrepreneurial spirit of Aba. This city has always been a center of enterprise, and we believe strongly in its future.
This plant is more than an investment in beverages; it is an investment in people, in jobs, and in the growth of local industry. We are here for the long term, and this is just the beginning of what we intend to build here.”
The Managing Director of Ultimum Limited, Mr. Austin Ufomba, described the plant as a bold step in the company’s journey.
“Ultimum Limited started with a simple idea, to build world-class products right here in Africa,”he said.
Business
Oil price jumps to $106, stocks drop on uncertainty over US-Iran talks
Crude prices rallied more than three percent on Thursday, with Brent crude above $106 per barrel and WTI around $93.
Oil prices jumped and equities slid Thursday as hopes for a peace deal between the US and Iran wavered after Tehran rejected Washington’s bid to wind down the nearly four-week war.
Markets had been buoyed this week by US President Donald Trump’s announcement that strikes targeting Iran’s energy infrastructure would be postponed, adding that the two sides were in peace talks.
But uncertainty over the talks and the virtual closure of the Strait of Hormuz — through which around 20 percent of oil and liquefied natural gas passes — have cast a shadow over market sentiment.
“The market rollercoaster continues,” said Joshua Mahony, chief market analyst at Scope Markets.
Crude prices rallied more than three percent on Thursday, with Brent crude above $106 per barrel and WTI around $93.
( VANGUARD)
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