
News
FG to convert Arik, Aero Contractors to national carriers

The Asset Management and Corporation of Nigeria has said Arik and Aero Contractors airlines may be merged and converted to a national carrier.
The AMCON Managing Director/Chief Executive Officer, Gbenga Alade, stated this on Monday at an interactive session with media executives in Lagos.
According to Alade, both Arik and Aero Contractor are owing so much money that they may not be able to pay.
He stated that the corporation presented the idea of converting Arik and Aero Contractor to the former aviation minister but it was rejected.
“The former management of AMCON presented the idea of converting Arik and Aero to a national carrier. But the former aviation minister did not buy the idea. We will present it again because that is the best option.
“Unfortunately, the special purpose vehicle that was created by the former management of AMCON for the conversion of Arik and Aero to a national carrier had been sold. But we can create another SPV this,” he explained.
Recall that the former Minister of Aviation, Hadi Sirika, launched the Nigeria Air three days before the end of former President Muhammadu Buhari’s administration.
The development had elicited concerns among stakeholders over the ownership arrangement which gave Ethiopian Airlines a 49 per cent equity stake in the company.
The Federal Government had a 5 per cent equity, while a consortium of three Nigerian investors had 46 per cent.
Reacting to the deal in June 2023, the House of Representatives asked the Federal Government to suspend the operations of Nigeria Air, describing it as a fraud.
In August 2023, the incumbent minister, Festus Keyamo announced that the national carrier project was suspended till further notice.
Keyamo said, “It remains suspended. It was never Air Nigeria. It was not Air Nigeria. That’s the truth. It was only painted Nigeria Air. It was Ethiopian Airlines trying to flag our flag.
“If it is so, why not allow our local plane to fly our flag? So nobody should dispute that it was Nigeria Air.
“Air Nigeria must be indigenous, must be wholly Nigerian, and must be for the full benefits of Nigeria, not that 50 per cent of the profit is for another country.”
Recently, a Federal High Court sitting in Lagos halted the sale of Nigeria Air to Ethiopian Airlines.
The court declared null and void, the sale of the shares of Nigeria Air to Ethiopian Airlines after determining the issues in the suit.
Justice Ambrose Lewis-Allagoa ordered that the Federal Government’s plans to establish a national carrier, Nigeria Air, should be halted.
The judgment was delivered in favour of the Registered Trustees of the Airline Operators of Nigeria and five other aviation industry stakeholders.
At the briefing on Monday, Alade said the present status of Arik and Aero Contractors had been giving him sleepless nights.
“Believe me, it is a very difficult problem to resolve, and it is giving me sleepless nights, particularly Arik.
“Arik is owing so much that they cannot pay,” he stated.
Speaking further, Alade said, “There is a way out. We have met all their major international creditors. Afreximbank is one of them. They (Arik) are owing Afreximbank about $52m.”
After negotiations, he said the airline was only willing to take $8.5m out of the $52m.
“However, where will that $8.5m come from? Where? AMCON doesn’t have money of his own to put there? And then they negotiated and said, okay, ‘let’s take some of the engines of those things away in full and final settlement’. And the truth is that, if they took those engines away, Arik is finished.
“But we said ‘no, we cannot allow you to take it away. Let AMCON give you a kind of bank guarantee. And we will stretch it so that three planes are flying now and by the Lord’s grace, by February next year, we want to make seven planes fly for Arik,” he stated.
The Nigerian Airspace Management Agency grounded aircraft owned by Arik over a court order instituted by the airline’s creditor and billionaire businessman, Arthur Eze.
Eze had approached the court in protest against his unpaid $2.5m by the founder of Arik Air, Johnson Arumemi-Ikhide.
In a statement by the spokesperson of NAMA, Abdullahi Musa, the agency said the development stemmed from an enforcement action by the FCT High Court on July 19, 2024, which involved attaching Arik’s planes to secure the debt.
In 2016, AMCON took over the management of Aero Contractors after it dissolved the board of the company, appointing a manager to run the affairs of the company in an interim capacity.
AMCON said in a statement by its media consultancy firm that the decision to take over the management of the company was in furtherance of its responsibility of acquiring eligible bank assets and putting them to economic use in a profitable manner.
Similarly, Arik Air, founded by Mr Arumemi Johnson, was taken over by AMCON in 2017 after the carrier’s management failed to honour its debt obligation running into several billions of naira.
AMCON had taken over debts from local banks owed by Arik.
Last year, the corporation asked the owners of Arik to present a credible debt resolution plan to the bad debts manager if it hopes to recover the company from the Federal Government.
AMCON’s asset recovery efforts
In a move to recover outstanding debts of nearly N5tn, Alade announced plans to engage international asset tracers to locate and recover assets hidden by recalcitrant debtors offshore including those masqueraded under special purpose vehicles.
Alade stated that since the new management took over about five months ago, they have successfully collected approximately N100bn from several high-profile debtors and revised the sale of some assets.
He emphasised that the organisation had been receiving strong support from President Bola Tinubu, the Central Bank Governor, the Federal Ministry of Finance, the Attorney General of the Federation, and the National Assembly in their efforts to recover debts transferred by banks to AMCON during the different phases of eligible bank asset acquisition.
The AMCON CEO mentioned that the chairman of the House Committee on Finance had pledged to name and shame obligors, who had yet to repay their debts at a major stakeholders’ conference that would be held before the end of the year.
He revealed plans to organise a conference where senior officials from the Central Bank of Nigeria, relevant ministries, banks, and the judiciary would be invited to discuss the challenges posed by non-performing loans in the country.
He expressed confidence that resolving issues surrounding assets in the oil and gas sector would boost production, generate more foreign exchange, and create employment opportunities for citizens.
He noted that the corporation had achieved remarkable results in two of those assets in less than five months.
In the power sector, he disclosed that AMCON had made significant progress in one of the biggest distribution companies and an abandoned power project in Kaduna.
Alade emphasised the potential impact of addressing power challenges in Nigeria, stating that some banks with approximately 400 branches across the country spend as much as N500bn annually on diesel for their generators.
He believed that tackling the power sector would significantly improve the overall business environment.
According to Alade, AMCON is also working on assets in the telecommunications sector, aiming to revive dormant assets and bring them back into operation.
PUNCH
News
SEDC to Launch 50,000-Hectare Agro-Mechanisation Project in Enugu to Tackle Unemployment, Insecurity

The South-East Development Commission (SEDC) has concluded arrangement for the kick-off the zone-wide 50,000-hectare agro-mechanisation project in Enugu community meant to tackle insecurity, unemployment and food insecurity.
The SEDC zone-wide 50,000-hectare agro-mechanisation, which is meant to be established in each of the 15 senatorial zones of the five South-East states, would commence at a pilot scheme level on Sept. 22.
This is contained in a statement issued by the media aide to the Governor of Enugu State, Chief Uche Anichukwu, on Wednesday in Enugu.
The Managing Director of the Commission, Mr Mark Okoye, disclosed this during a community engagement at the pilot project site in Nomeh Unateze community in Nkanu East Local Government Area of Enugu State on Tuesday.
Okoye said the SEDC had, following its establishment in 2024, used the first year to do extensive studies and design a blueprint that cuts across different areas of the South-East economy.
He said the agro-mechanisation projects, remained a major part of the commission’s blueprint, explaining that it would address insecurity, unemployment, and food security.
According to him, so, what we are here for is one of our flagship initiatives, which is called the South-East Agro Mechanisation Programme or the South East Agro Development Programme.
Okoye said that the SEDC was committed to develop up to 50,000 hectares of land and that would be used for mechanised farming across the region.
“We are here for a pre-assessment, pre-flag-off visit to see the area, understand the level of work that needs to be done and ensure that contractors can start mobilising so that once we hit the site we start running.
“Because a big part of what we are looking at is how to address food insecurity and unemployment, ensuring that we are producing what we put on the table.
“We are starting with pilot programmes where we are taking 200 to 300 hectares of farmland across 15 senatorial zones and developing them to standard farms.
“Where you not only have cassava, maize, some of our staple crops, but also some cash crops. In some areas, there will be the centres for learning and centres for productivity,” he said.
Okoye said that Gov. Peter Mbah would flag off the project on Tuesday, adding the SEDC team came to assess the area, meet with the community and ensurr that all the plans are in place.
“And within the second we put this investment here, at least N4 billion or N5 billion of added investment will come in,” he said.
Okoye commended President Bola Tinubu for addressing the long yearning by the South-East for a commission to mobilise resources and coordinate development in the region.
He urged the people to reciprocate the numerous gestures by supporting the Tinubu to continue the development efforts post 2027.
He further revealed that the commission would soon roll ou an investment agency to help mobilise local and Diaspora investments for the region’s speedy development.
A community leader in the community, Chief Uche Anichukwu, described the agro-mechanisation project as one of the blessings of the APC, Tinubu and Mbah administrations to Enugu State in general and Nomeh Unateze in particularly.
Anichukwu, who is also media aide to the Governor of Enugu State, said that the Nenwe-Nomeh-Mburubu-Nara road, with a spur to Oduma, had created ready and multiple access to market for the proposed agricultural project.
Speaking, Chairman, Nomeh Unateze Town Union Caretaker Committee, Dr Chukwudi Anyianuka, and other community stakeholders, reiterated their support for the project.
They commended Tinubu and Mbah for siting the project in their community.
“We are very happy. We cannot wait to see it actualised and we promise that we are going to provide everything that is necessary to make sure that this is established.
“The Commission has taken a methodical approach to regional development.
“Rather than the pitfall of throwing money at development challenges, it undertook a study of the region and came up with a master plan, which includes this initiative, to reinvent the South-East,” Anyianuka added.
Also present at the interactive session were the members of the traditional council of Nomeh Unateze and community heads.
News
Poor Lighting, Sanitation Frustrate Work At First Niger Bridge

…As Onitsha South Mayor Empowers Workers
By Okey Maduforo, Awka
Maintenance and rehabilitation works at the recently closed First Niger Bridge are being hampered by poor lighting during night shifts and inadequate sanitary facilities at the site.
Recall that before the closure of the bridge, the Minister of Works, Engr. Dave Umahi, had disclosed that efforts would be made to carry out some of the rehabilitation works at night.
However, some of the workers at the site said poor lighting was affecting effective monitoring of activities on the bridge, while the poor sanitary condition of the area was also posing a threat to their health.
The workers made the complaints during a working visit to the bridge by the Mayor of Onitsha South Local Government Area, Chief Emeka Orji.
Orji, who was accompanied by the Secretary of the Local Government, Barr. Paul Onuachalla, and executives of the Fegge Community Landlords/Tenants Welfare Association, led by its Chairman, Chief Nnamdi Onugha, provided cooked meals and packs of bottled water to the personnel and workers at the site.
Speaking after the visit, Orji said the gesture was aimed at supporting the workers and showing solidarity with the Federal Government’s rehabilitation efforts on the bridge.
He said, “To support the workers and give them a sense of belonging, that is why we came to appreciate them. We will continue doing so from time to time as part of our Corporate Social Responsibility.”
The Mayor also disclosed that the council had provided facilities, including mobile toilets and water tanks, while arrangements were being made for water tankers to supply water to the tanks.
Orji further stressed the importance of the military presence in Onitsha South, noting that the personnel would contribute to security, rapid response and protection of the bridge, Onitsha South and parts of Ogbaru Local Government Area.
He added that the council would continue to strengthen its collaboration with security agencies to ensure maximum security across Onitsha South Local Government Area.
Earlier, after inspecting the environment with the Mayor, the Officer in Charge, who pleaded anonymity, identified poor lighting at the bridge at night as one of the major challenges confronting the personnel.
According to him, the situation makes it difficult to effectively monitor activities around the bridge, particularly during night shifts.
He also complained about the poor sanitary condition of the under-bridge environment where the personnel camp, saying they had to clean up the area themselves upon arrival.
The officer further appealed for improved accommodation and food support for the personnel.
He, however, commended the Mayor for the visit and assistance, saying the gesture made the workers feel appreciated.
“We feel loved and appreciated. We are happy seeing you around,” he said.
News
Dangote Reveals He Bought First Private Jet at 22

Africa’s richest industrialist, Aliko Dangote, has revealed that he bought his first private jet at the age of 22 and a half.
Dangote made the disclosure on Monday in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange.
Reflecting on his business journey, the billionaire said he had enjoyed travelling by private jet over the years but was now comfortable using commercial flights.
He also urged wealthy Nigerians to channel more of their resources into productive investments rather than luxury assets.
Dangote particularly appealed to affluent Nigerians who spend huge sums on private aircraft to consider investing such wealth in industries and businesses that could contribute to Nigeria’s economic growth.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production. We are not going to be a great nation without doing something productive,” he said.
He stressed that directing private wealth towards productive ventures would help strengthen the economy, create jobs and provide greater opportunities for national development.
News
Niger Delta Chamber Breaks Silence on Alleged Summit Trademark Dispute


The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has rejected claims that it appropriated or “stole” the idea of Niger Delta Economic and Investment Summit from another organisation whose application was reportedly pending before the Federal Ministry of Trade.
NDCCITMA considers the allegation misleading and wishes to set the record straight.
The concept of Niger Delta Economic and Investment Summit is a broad and widely recognised platform used globally to bring together government, the private sector, investors, businesses, development partners and other stakeholders to deliberate on economic growth and development. The use of the term “Economic Summit” does not, in itself, establish exclusive ownership of the concept by any individual or organisation.
More importantly, the chronology of events does not support the allegation being made against NDCCITMA.
While the said application was reportedly still pending before the Ministry of Trade as at September 2025, NDCCITMA had already gone through the appropriate processes and received approval from the Ministry of Trade in August 2025.
NDCCITMA did not rely on, copy, or appropriate the pending application of any other party in arriving at its name or identity
It is also important to distinguish between a concept and legally protected intellectual property, such as a registered trademark, proprietary material or other enforceable intellectual property right.
NDCCITMA remains committed to conducting its activities in accordance with applicable laws and regulatory requirements.Most importantly, in Suit No: FHC/PHC/CS/57/2026 filed on same subject matter in Portharcourt by the petitioner, the learned Judge had restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA. NDCCITMA will continue respect the rule of law
We therefore urge the public, stakeholders, the media to disregard any narrative unless such claims are supported by verifiable facts and relevant legal documentation.
NDCCITMA firmly rejects the allegation and maintains that its activities and identity were developed and pursued independently and through the appropriate regulatory channels.
The organisation remains focused on its mandate of promoting commerce, industry, trade, agriculture, investment and sustainable economic development across the Niger Delta region.
Signed:
Management
Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA)
News
Commissioner Dies Suddenly at Abuja Hospital

The Cross River State Commissioner for Power and Renewable Energy, Prince Eka Williams Abang, has died at a hospital in Abuja.
Williams reportedly died suddenly on Saturday, September 12, 2026, while receiving medical treatment.
His death was announced on Sunday by his brother, Nkang William, who expressed shock over the sudden loss.
The deceased was described by family members and associates as a dedicated public servant whose death had left a significant void.
A former councillor representing Abo Ward in Boki Local Government Area, Pius Kejuo Osang, said he was still struggling to understand the development.

Late Abang
“I don’t understand, I was with him on Tuesday, I slept in his hotel,” Osang said.
Michael Gabriel Jr., Executive Media Assistant to Senator John Owan-Enoh, Minister of State for Industry, also described Williams as “a dedicated public servant and a good man.”
He said Ikom Local Government Area had lost a committed public servant, adding that Williams’ life of service, humility and impact would remain in the memories of those he touched.
The commissioner’s death has thrown Cross River’s political and public service circles into mourning, with condolences pouring in for his family, colleagues and associates.
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