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New Landing Systems Approved for 11 Airports

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Arik Airplane - Investors King
  • New Landing Systems Approved for 11 Airports

Smarting from nationwide flight disruptions last December and early January, the Federal Government has concluded plans to deploy new Instrument Landing Systems (ILS) in at least 11 airports nationwide.

The equipment, valued at several millions of dollars, will put an end to flight disruptions during harmattan season and other inclement weather conditions.

Managing Director of Nigerian Airspace Management Agency (NAMA), Capt. Fola Akinkuotu, confirmed that the Federal Government had already made an order for ILS to go round the designated airfields and more.

An Instrument Landing System (ILS) enables aircraft to land if the pilots are unable to establish visual contact with the runway. It does this by way of transmitted radio signals.

According to experts, the system operates as a ground-based instrument approach system that provides precision lateral and vertical guidance to an aircraft approaching and landing on a runway, using a combination of radio signals and, in many cases, high-intensity lighting arrays. This enables a safe landing during Instrument Meteorological Conditions (IMC), such as low ceilings or reduced visibility due to fog, rain, or blowing snow.

Recall that domestic flights operations were on lockdown for several days last December due to envisaged harmattan haze. While more sophisticated wide-bodied foreign aircraft manoeuvred the haze, their domestic counterparts were grounded at airports across the country.

Akinkuotu, while conducting journalists round the upgraded navigational equipment at the Kaduna International Airport (KIA) recently, noted that visibility at many of the aerodromes are bad and the essence of deploying new ILS is to completely change the narrative.

He said: “Come December this year, there should be no excuse of aircraft not landing in harmattan.”

Among the airports to benefit from the critical safety tools are the Murtala Muhammed International Airport, Lagos, Port-Harcourt International Airport, Ibadan Airport, Benin Airport, Nnamdi Azikiwe International, Abuja and Minna Airport among others.

According to Akinkuotu, “There are 11 ILSs that are going to be installed. They are brand new. Don’t let us forget that they are going to recover some items. Lagos has an ILS; I think Ibadan too is going to get newer ones. So, whatever we recover, we can put them in some other places. I would expect that over time when the materials, assets are in, we should be able to do not less than 18 fields.”

The plan is in line with the assurance given by the Minister of State for Aviation, Hadi Sirika, that efforts were ongoing to keep improving all the airports amidst plans to have them concessioned in batches.

Sirika, in an interview with The Guardian, said there are plans to fix the whole airports, creating more activities around them to make them viable, attractive and bankable.

Currently, only very few aerodromes out of the 24 airports in Nigeria have airfield lighting and ILS.

The NAMA boss explained that there are two basic sets of costs associated with an ILS. They are installation costs, purchase of equipment, site surveying and preparation and upkeep costs.

“People forget that the latter doesn’t simply mean keeping the system in good repair; it also carries with it the requirement to regularly inspect the system to ensure it is operating within proper tolerances. The localiser provides guidance in lateral dimension on the lateral plain. Cooling is essential for this component,” he said.

He further said that with the new ILS in place, airplanes can land in zero visibility as long as they have corresponding equipment on-board their airplanes.

“What it means is that there would be all year flying in this place irrespective whether it is dust haze or early morning mist. I can guarantee you can do all year round flights in this place.

“The challenges in Port-Harcourt are different. In Port-Harcourt, every morning, it is very difficult to fly into Port-Harcourt Airport; that is why you find many airlines not going to Port-Harcourt before 8 am. Low clouds are there. The more sophisticated instrument landing systems you have, the easier it is for you to land.

“We have capability to land in zero condition; that is, you don’t see anything. If you are willing to pay for it not only in the equipment but the aircraft must properly be equipped; people have to be trained, power has to be regular at the airport,” Akinkuotu said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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NNPC and ARPHL Collaborate to Expand Port Harcourt Refinery to 310,000bpd

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The Nigerian National Petroleum Company Limited (NNPC) has joined forces with the African Refinery Port Harcourt Limited (ARPHL) to expand the Port Harcourt Refinery.

The collaboration entails ARPHL’s subscription of a 15% equity stake in the Port Harcourt Refining Company, a move aimed at augmenting the refinery’s daily production capacity from 210,000 barrels per day (bpd) to 310,000bpd.

The agreement, finalized at a signing ceremony held at the NNPC Towers in Abuja, underscores the commitment of both parties to bolstering Nigeria’s downstream oil and gas sector.

Managing Director of African Refinery Port Harcourt Limited, Omotayo Adebajo, and NNPC’s Executive Vice-President, Downstream, Adedapo Segun, sealed the deal, marking a pivotal moment in the nation’s quest for energy self-sufficiency.

According to statements released by NNPC and ARPHL, the subscription agreement represents a crucial step towards expanding Nigeria’s refining capacity and addressing the nation’s persistent reliance on imported petroleum products.

The proposed increment of 100,000bpd in the Port Harcourt Refinery’s capacity is poised to significantly reduce Nigeria’s dependence on imported fuel, fostering economic resilience and energy security.

Speaking on the collaboration, NNPC’s Executive Vice-President highlighted the strategic significance of co-locating the proposed additional refining capacity with the existing facilities at the Port Harcourt Refinery complex.

The move not only optimizes existing infrastructure but also underscores NNPC’s commitment to modernizing and revitalizing Nigeria’s refining sector.

In a similar vein, Tola Ayo-Adeyemi, Group Executive Director, Legal and Regulatory Compliance at African Refinery Group, emphasized the transformative impact of the collaboration on Nigeria’s energy landscape.

He highlighted the ARPHL refinery project’s position as the largest private refinery in Nigeria’s South-South and South-East geopolitical regions, underscoring its pivotal role in driving regional development and economic growth.

The groundbreaking ceremony for the ARPHL refinery project, scheduled for later this year, symbolizes a significant milestone in Nigeria’s journey towards energy independence.

With construction slated to commence in 2025 and commercial operations targeted for 2027, the project represents a beacon of hope for Nigeria’s refining sector, promising to deliver over 30 million liters of various petroleum products daily upon completion.

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Tech Giants Microsoft and Alphabet Beat Expectations, Driven by AI and Cloud Revenue

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Industry titans Microsoft Corp. and Google parent company Alphabet Inc. have surpassed Wall Street’s expectations, buoyed by robust growth in artificial intelligence (AI) and cloud computing revenue streams.

The stellar quarterly results underscore the pivotal role of advanced technologies in shaping the future of these tech behemoths.

Both Microsoft and Alphabet showcased impressive performances in their latest earnings reports, sending their shares soaring in after-hours trading.

Microsoft’s stock surged by 6.3%, while Alphabet witnessed an astonishing 17% increase, reflecting investor confidence in the companies’ strategic investments and innovative initiatives.

The driving force behind this remarkable success story is the accelerating demand for AI-powered solutions and cloud services. As businesses increasingly embrace digital transformation, the adoption of AI technologies and cloud infrastructure has become paramount, fueling substantial revenue growth for both Microsoft and Alphabet.

At the forefront of this AI revolution, Microsoft and Alphabet have been fervently expanding their AI capabilities and integrating them into a wide array of products and services.

From advanced AI models to cloud-based AI solutions, both companies have been relentless in their pursuit of technological innovation, positioning themselves as leaders in the rapidly evolving AI landscape.

Silicon Valley has heralded 2024 as the year of generative AI, a groundbreaking technology capable of creating text, images, and videos from simple prompts.

Microsoft and Alphabet have capitalized on this trend, leveraging generative AI to drive business growth and enhance their cloud computing offerings.

The surge in cloud computing demand has been a particularly welcome development for Google, which has long trailed behind rivals such as Amazon and Microsoft in this competitive market.

After achieving profitability in its cloud operation last year, Google’s first-quarter profit of $900 million far exceeded analysts’ projections, signaling a significant turnaround for the tech giant.

Microsoft’s Azure cloud computing platform also experienced robust growth, with sales climbing by 31% in the quarter, surpassing analysts’ expectations.

The integration of AI technology into Azure subscriptions has proven to be a key driver of growth, as businesses increasingly recognize the value of AI-driven insights and automation.

Furthermore, both Microsoft and Alphabet have seen promising uptake of AI-powered tools across various industries. From AI assistants for office productivity to AI-driven coding platforms, these companies are empowering businesses with cutting-edge AI solutions that enhance productivity, efficiency, and innovation.

Despite the stellar performance of Microsoft and Alphabet, the broader tech landscape remains dynamic and competitive.

While both companies have demonstrated resilience and adaptability in navigating market challenges, they must continue to innovate and evolve to maintain their competitive edge in an increasingly digital world.

As the AI and cloud computing revolution continues to unfold, Microsoft and Alphabet are well-positioned to lead the charge, driving innovation, shaping industries, and delivering value to customers around the globe. With their unwavering commitment to technological excellence, these tech giants are poised for continued success in the dynamic landscape of the digital age.

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Axxela Limited Raises N16.4bn in Oversubscribed Bond Issuance

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Axxela Limited, a leading sub-Saharan African gas and power company, has successfully completed its N15 billion Series 1 Bond Issuance.

The company raised N16.4 billion due to oversubscription and investor confidence in the company’s financial strength and strategic direction.

Bolaji Osunsanya, Axxela’s Chief Executive Officer, expressed his satisfaction with the outcome, highlighting the bond’s oversubscription of 109%.

Despite challenging economic conditions marked by rising interest rates and limited market liquidity, Axxela’s bond offering attracted strong interest from a diverse group of investors, including pension fund administrators, asset managers, and high-net-worth individuals.

Osunsanya explained that the proceeds from the bond issuance would play a crucial role in funding the company’s long-term capital expenditures, managing its weighted average cost of capital, and diversifying its funding sources.

The funds will support the completion of ongoing gas pipeline projects across Nigeria, aligning with the company’s commitment to enhancing energy infrastructure and contributing to the country’s energy transition agenda.

Stanbic IBTC Capital, serving as the lead issuing house alongside seven joint issuing houses, played a pivotal role in facilitating the transaction, with Stanbic IBTC Bank acting as the transaction bank.

The successful bond issuance reflects Axxela’s strategic positioning as a key player in the region’s energy sector and its ability to leverage strong investor confidence to drive growth and innovation in the industry.

As Axxela continues to expand its presence and strengthen its operations, the oversubscribed bond issuance serves as a testament to the company’s resilience and its commitment to delivering value to shareholders and stakeholders alike.

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