BIG STORY

Billionaire Investor, Dozy Mmobuosi Seeks More Investment For Africa’s Aviation Sector

Published

2 years ago

February 9, 2023

Billionaire Entrepreneur and Founder, Tingo International Holdings, Mr. Dozy Mmobuosi, has stressed that the aviation sector in Africa required more investment to develop and meet the demand of a rapidly expanding population.

In a statement Thursday, Mmobuosi has long held ambitions to make investments in the aviation sector driven by his belief that the sector in Africa requires investment.

In 2019, the billionaire investor established Tingo Airlines Ltd (UK) with the goal of acquiring a license and operating flights between Europe and Africa. However, due to the outbreak of Covid-19 in early 2020, Mmobuosi redirected resources towards Tingo Mobile to develop Nwassa and Tingo Pay.

While Tingo Airlines Ltd (UK) is in the process of being dissolved following the disruption to the global aviation sector, Mmobuosi and Omni-Blu Aviation Limited, a fast-growing airline incorporated in Nigeria to provide regular, customised, and specialised air transportation services, entered into a Joint Venture and Mutual Cooperation Agreement (JVMC) in 2020.

They incorporated in Nigeria, a Joint Venture Company (JVCo) called Omni-Tingo Aviation Services Limited as the commercial vehicle through which their mutual aspirations would be administered.

The JVMC flights are to be operated under Omni-Blu Aviation licences [the technical partners under the JVCo] with Mmobuosi’s Family Office providing the requisite funding resources for aircraft leasing and acquisitions towards their common objective.

Whilst the Covid 19 years of 2020 and 2021 slowed down the pace for their full launch, the Omni-Tingo JVCo have made significant progress since it resumed its project implementation plan; having completed the purchase of a Sirkosky S-76C++ Helicopter in November 2022: and currently completing a transaction for the purchase of a Challenger 605 Business Jet in the USA. The JVCo is also currently in active negotiations for the lease of several regional jets to commence domestic and regional flight operations in Nigeria and across the region.

Mmobuosi, and Omni-Blu Aviation Limited (RC: 1098715) through its appointed representative, own 50% shareholding of Omni-Tingo JVCo respectively.

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BIG STORY

JUST IN: Education Minister Reverses 18-Year Age Limit For Admission

Published

7 hours ago

November 5, 2024

PorscheClassy News

The newly appointed Minister of Education, Dr. Tunji Alausa, has announced the removal of the 18-year age limit for admission into tertiary institutions in Nigeria.

He also indicated the possibility of a comprehensive review of the nation’s education policy.

However, Alausa made it clear that there would be no reversal of the Federal Government’s decision to invalidate over 22,700 degree certificates acquired by Nigerians from unrecognized universities in neighboring Togo and the Benin Republic.

Speaking at his inaugural ministerial press conference in Abuja on Wednesday, Alausa emphasized that practical education is key to tackling Nigeria’s unemployment crisis. He stated that tertiary institutions must stop producing graduates without ensuring job opportunities for them.

The minister also revealed plans for the federal government to partner with private sector players to provide training opportunities for students and help them realize their full potential.

Additionally, Alausa announced that universities focused on agriculture would be empowered to implement commercial farming practices as part of efforts to address the country’s food security challenges.

More to come…

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BIG STORY

JUST IN: 114 Released #EndBadGovernance Protesters Arrive Presidential Villa

Published

9 hours ago

November 5, 2024

PorscheClassy News

One hundred and fourteen #EndBadGovernance protesters, including minors and adults acquitted by the Federal High Court in Abuja, have arrived at the Presidential Villa.

The protesters, initially arraigned by the Police Force, were released following a court ruling by Justice Obiora Egwatu.

The case was dismissed at the request of the Attorney General of the Federation (“AGF”), Lateef Fagbemi.

Vice President Kashim Shettima, representing President Bola Ahmed Tinubu, is set to officially receive the released protesters.

They are then handed over to their respective Governors, specifically Uba Sani of Kaduna and Abba Yusuf of Kano.

Ministers present at the State House Auditorium in Abuja for the reception include: Tunji Alausa (“Minister of Education”); Nentawe Yilwatda (“Minister of Humanitarian Affairs and Poverty Reduction”); Balarabe Lawal (“Minister of Environment”) and Tanko Sununu (“Minister of State for Humanitarian Affairs and Poverty Reduction”).

Also, Senior Special Assistant on Community Engagement for the Northwest, Abdullahi Yakasai, is in attendance.

Other dignitaries present are Deputy Senate President Jubrin Barau and Chairman, House of Representatives Committee on Appropriation, Abubakar Bichi.

More to come…

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