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

859 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 Exchange Rates Thursday, 22 July

Published

4 hours ago

July 23, 2026

OCHEFA

23 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1,405 Sell ₦1,410

GREAT BRITISH POUND (GBP) Buy ₦1,880 Sell: ₦1,900

EURO (EUR) Buy ₦1,580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,369.63

GREAT BRITISH POUND (GBP) ₦1,833.12

EURO (EUR) ₦1,563.03

SWISS FRANC (CHF) ₦1,685.08

JAPANESE YEN (JPN) ₦8.40

CHINESE YUAN (CNY) ₦202.21

WEST AFRICAN CFA (XOF) ₦2. 39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867.90

SAUDI RIYAL (SAR) ₦366.36

SOUTH AFRICAN RAND (ZAR) ₦83.40

Business

President Tinubu Tasks Judicial Officers To Remain Abreast of Evolving Global Maritime Laws

President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).

Published

21 hours ago

July 22, 2026

OCHEFA

30 Views

President Bola Tinubu on Wednesday urged judges to continually update their knowledge on autonomous vessels, digital shipping, artificial intelligence-driven maritime operations, maritime security and evolving international environmental regulations.

Represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, President Tinubu lauded the Nigerian Shippers’ Council for initiating and sustaining the international seminar for judges.

He described it as one of Nigeria’s foremost platforms for strengthening maritime jurisprudence, enhancing judicial capacity and promoting excellence in maritime justice.

According to Oyetola , rapid technological advancement is creating unprecedented legal questions relating to liability, navigational responsibility, insurance, collision regulations and allocation of responsibility when autonomous vessels malfunction.

He emphasised that the courts will increasingly adjudicate disputes involving decarbonisation, environmental compliance, blockchain-enabled cargo documentation, electronic bills of lading and other evolving international maritime legal frameworks.

“The emergence of autonomous vessels demands a judiciary equipped to resolve complex legal questions involving liability, insurance, navigation and technological accountability.

“Judicial officers must remain abreast of evolving international maritime law to ensure justice keeps pace with technological innovation,” he said.