Business News
Air Peace signs deal with Brazillian aerospace company
Air Peace has signed a deal with Embraer, a Brazilian aerospace conglomerate, the third-largest producer of aircraft in the world.
Air Peace has signed a deal with Embraer, a Brazilian aerospace conglomerate, the third-largest producer of aircraft in the world.
According to Punch, the deal entails Embraer confirming the purchase rights of three E195-E2 aircraft which will be added to the previous orders of Air Peace from the original contract signed by the two companies earlier this year.
This makes Air Peace order of E195-E2 aircraft 13 in number with 17 purchase rights for the same model. Delivery has been scheduled for May 2020.
Air Peace
The new E195-E2s with a value of $212.6 million, based on Embraer’s current list prices, would be included in Embraer’s 2019 fourth-quarter backlog. The new aircraft would have dual configurations with 12-seater business class and 102-seater economy class.
Speaking about the aircraft deal, Air Peace’s Chief of Finance and Administration, Mrs Ejiroghene Eghagha said the company was positive that the E195-E2 was the perfect aircraft to expand the carrier’s domestic and regional operations.
[READ MORE: DEAL: Visa to acquire 20% stake in Interswitch, valuing it at $1 billion]
Eghagha, who signed the new deal on behalf of the airline at the Dubai Airshow, said the new order would gradually replace the airline’s existing fleet, which would make it the airline with the youngest fleet in the world.
“The new deliveries will ease our subsidiary fleet in the Air Peace Hopper to actualise our ‘no-city-left-behind initiative which we shall continue to execute.
“We are receiving impressive data about the aircraft’s economics when in revenue service, and this was a driver to place this new firm order with Embraer. We look forward to receiving our first aircraft, which will enhance connectivity in Nigeria and the African region,” she said.
Also speaking on the deal is Raul Villaron, Vice President Sales, Africa and Middle East, Embraer Commercial Aviation, who said that Air Peace would love the aircraft’s efficiency and the passengers would also experience an unparalleled level of comfort, especially in First Class.
Air Peace is set to be the first E2 operator in Africa when deliveries start in second-quarter of 2020.
ENDSARS
South-West Governors say attacks in Lagos were attempts to weaken the region’s economy
South West governors have they described the coordinated attacks in the state as an attempt to weaken the region’s economy.
Governors of the South-West states have pledged their supports to their Lagos State counterpart, as they described the coordinated attacks in the state as an attempt to weaken the region’s economy.
This was disclosed by the Chief Press Secretary of the state, Gboyega Akosile, during the visits of the Governors and the Federal Executive Council members from SouthWest to the public assets and private properties destroyed in last Wednesday’s arson in the state.
READ: How to access new N75 billion Nigerian Youth Investment Fund
He tweeted, “Shock! This was the expression on the faces of the Federal Executive Council (FEC) members from Southwest and Governors as they toured the public assets and private properties destroyed in Wednesday’s coordinated arson in Lagos State.
“The delegation of Governors and Ministers was personally received by Sanwo-Olu at the State House in Marina, where the Lagos helmsman showed them the pictorial evidence of the violence before visiting some of the torched assets.”
READ: President Buhari approves N13.3 billion for Community Policing in Nigeria
At a joint press conference held after the tour, Chairman of Southwest Governors’ Forum and Ondo State Governor, Arakunrin Rotimi Akeredolu, SAN, compared the scenes to a war zone, given the extent of the destruction.
According to him, the violence that resulted from the EndSARS protest left much to be desired, stressing that there was an agenda beyond the youth demonstration against police brutality.
READ: FEC approves $40 oil benchmark for 2021 budget
He said, “We are deeply concerned with the ease with which public buildings, utilities, police stations, and investment of our people have been burnt despite the proximity of security agencies in those areas.
Shock! This was the expression on the faces of the Federal Executive Council (FEC) members from Southwest and Governors as they toured the public assets and private properties destroyed in Wednesday's coordinated arson in Lagos State. pic.twitter.com/TahuPIWkcQ
— Gboyega Akosile (@gboyegaakosile) October 25, 2020
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What this means: From all indications, it is obvious that the South-West Governors believed that the said attack, which were rumoured to have been carried out by suspected hoodlums, were sponsored by some people to deliberately disorganize the region’s economy.
Business
#EndSARS Protest: 80 BRT buses worth N3.9 billion were destroyed by hoodlums – LASG
The Lagos State Government disclosed that the 84 BRT vehicles destroyed by the hoodlums cost a total of about N3.9 billion.
The Lagos State Government has revealed that 27 of the burnt Bus Rapid Transit (BRT) vehicles in the Oyingbo and Ojodu Berger areas of the state cost $200,000 each, while 57 of them cost $100,000 each, all totaling about N3.9 billion.
This statement was made by the Lagos State Government on Friday, after evaluating the extent of damage made to the Bus Rapid Transit (BRT) vehicles.
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What you should know
Few days ago, hoodlums hiding under the cover of #EndSARS protests allegedly attacked and razed the Oyingbo BRT terminal, with several buses burnt. Nairametrics reported that Primero Transport Services Ltd (PRT), the owners of BRT buses said they have lost over N100 million in 6 days due to the #EndSARS protests.
READ: Lagos Bus Service records 10 million passengers in 10 months
The State’s Commissioner for Information, Mr. Gbenga Omotosho, in an exclusive interview with Punch, disclosed that:
- 23 big BRT buses were razed down, while 57 medium-size BRT buses were affected by the violence, which brings the total of the BRT vehicles destroyed to 80.
- 23 of the 80 BRT buses burnt by the hoodlums were at Ojodu, while the remaining 57 were at the Oyingbo area.
- The big buses cost around $200,000 each, while the medium-size ones cost around $100,000 each.
READ: #EndSARS: Lagos orders investigation of Lekki Toll Plaza shooting
What they are saying
Mr. Omotosho said, “As I speak, the Governor and some of us are going around the state from one facility to the other. We are also visiting private facilities. Some of the places were the Oregun Vehicle Inspection Service office, the BRT park at Oyingbo, and the terminus at Ojodu Berger.
“I don’t know how they planned it; the hoodlums left the old buses and went for the new ones. The new ones were worth billions of naira.
READ: Operators of BRT suspend operations on Ikorodu-TBS route
“However, the cumulative losses incurred by the state are not ready yet. But it will be mind-boggling. It came on a scale beyond belief. We know that the police have apprehended suspects.”
What this means
The vehicles were purchased in dollars; So, the consistent decrease in the value of Naira is expected to edge the cost of these buses up, when denominated in Naira.
The Lagos State Commissioner for Information, Mr Gbenga Omotosho explained that with the current foreign exchange rate, the 80 destroyed BRT buses are now valued at N3.929 billion.
Business
BREAKING: Lagos State reviews curfew again, now from 8pm to 6am
Governor Babjide Sanwo-Olu has once again reviewed the curfew in the state to now commence between 8 pm to 6 am.
The Lagos State Governor, Babajide Sanwo-Olu, has further reviewed the curfew earlier imposed on the state to help contain the large scale violence following the hijacked #EndSARS protests against police brutality and extra-judicial killings. The curfew now starts at 8 pm and ends at 6 am daily.
This is coming 2 days after the Governor had eased the 24-hour curfew to start from 6 pm to 8 am daily.
This disclosure was made by the Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, on Sunday, October 25, 2020.
The Commissioner in his statement said, “The curfew in Lagos State has been reviewed. Restriction time is now 8 pm to 6 am. Lagosians are enjoined to plan their journey times as they go about their lawful businesses. Public schools remain shut till further notice.”
What this means
This new review gives Lagosians an extra 4 hours to go about their daily activities.
What to expect
The Lagos State government will keep on reviewing and relaxing the curfew, as long as the security situation does not spike again.
Details later…
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BREAKING: Lagos State reviews curfew again, now from 8pm to 6am
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