Business
World’s Largest Cargo Plane Lands In PH
The efforts of the Rivers State Government in making Port Harcourt the state capital an investment destination in the African continent is rapidly yielding results with the landing of the Titanic, the world largest cargo plane..
The landing of the cargo plane which took place at exactly 7.25 am on Friday at the Port Harcourt International Airport has made the city the first in the African continent which the world’s biggest chartered aircraft has landed.
The aircraft, popularly known as Antonov 255 was the second in the series of Antonov to be built by Russian Aircraft Engineers in the last two hundred years.
The first one was alleged to have been built in 1890 in Russia, while the present one was build in 1980.
The pilot, Mr Antonov Dmytro told newsmen at the airport that the flight from Calgary, Canada to Port Harcourt took 15 hours.
Mr Dmytro a Ukrainian said that he was delighted to be in Africa and Port Harcourt and described the Port Harcourt International Airport as one of the most beautiful airports that he has visited.
The Group Managing Director of Makon Nigeria Limited, the company that was responsible for the coming of the plane to Port Harcourt, Mr Makinde Abiodun Oluseyi described it as historic.
“History is actually being made here today, because you don’t see this often. It’s kind of similar to the Concorde airplane,” he said.
Mr Oluseyi said that the plane was chartered by his company to bring manufactured equipment for the gas to power project from Calgary, Canada to Nigeria.
He said that Makon group considered it faster and convenient to use the plane to move its equipment than moving them by sea.
“What we have done is we manufactured some equipments in Calgary towards the gas to power project in Nigeria.
“So looking at that, aspirations from government deadline were given, normally this equipment would have been moved it by sea, which should have taken a little longer, but because we are trying to meet and exceed the deadline given by government, decided to fly them in”, he said.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.