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.

Published

2 years ago

January 21, 2025

OCHEFA

1,043 Views

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.”

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Naira Rates To Dollar , Pound, EURO… Monday, October 5

Published

1 day ago

October 5, 2026

OCHEFA

25 Views

Black Market Exchange Rates

₦1365DOLLAR (USD)

₦1820POUND (GBP)

₦1535EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

West African CFA ₦2300CFA

Central African CFA ₦2200

Australian Dollar currency ₦850AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1330.10

POUND (GBP)₦1759.58

EURO (EUR)₦1496.76

SWISS FRANC (CHF)₦1605.62

JAPANESE YEN (JPN)₦8.45

CFA FRANC (XOF)₦2.29

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1801.60

CHINESE YUAN (CNY) ₦198.39

SAUDI RIYAL (SAR)₦354.25

SOUTH AFRICAN RAND (ZAR)₦79.91

Business

Diesel Costs Bite: LAMATA Accelerates Shift To CNG, Electric Buses

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

Published

2 days ago

October 4, 2026

OCHEFA

31 Views

Lagos is accelerating its transition away from diesel-powered public transport as the Lagos Metropolitan Area Transport Authority (LAMATA) begins phasing out diesel buses from its regulated fleet, amid a surge in diesel prices that has pushed operating costs sharply higher.

LAMATA is targeting clean-energy propulsion for 52 per cent of its Bus Rapid Transit (BRT) fleet by 2050, with compressed natural gas (CNG) and electric vehicles (EVs) taking the place of conventional diesel buses under a policy that took effect at the beginning of 2026.

The Managing Director and Chief Executive Officer of LAMATA, Mrs. Abimbola Akinajo, disclosed this weekend, during the handover of 20 additional high-capacity CNG buses under the Presidential Initiative on CNG and EVs.

The latest delivery brings LAMATA’s CNG fleet to about 170 buses, following the deployment of approximately 150 CNG buses before the new vehicles were received.

The authority also operates high-capacity and medium-capacity electric buses.

Akinajo said some of the new CNG buses would be deployed on the busy Ikorodu–Tafawa Balewa Square corridor, where passenger demand remains high.

“We will only work with CNG or EV buses, and this has been the policy since the beginning of the year,” she said.

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

For LAMATA, the shift is therefore not only an environmental policy but also a cost-management strategy aimed at shielding commuters and transport operators from the impact of rising fuel expenses.

Akinajo said regulated public transport fares had not been increased, partly because the lower operating costs of CNG and electric buses were helping to contain the pressure on operators.

“Regulated public transport fares have not increased, and these buses have helped us achieve that,” she said.

Diesel phase-outUnder the new policy, existing diesel-powered buses in the regulated system will be progressively replaced with CNG and electric alternatives.

Akinajo said the long-term direction was for the regulated system to ultimately operate an entirely electric fleet, while the broader clean-energy target provides a pathway towards reducing emissions from Lagos’ transportation sector.

Transportation remains a major source of emissions in the megacity, making the switch to cleaner buses a key component of Lagos State’s long-term ambition of achieving net-zero emissions by 2050.