In the past two decades, Nigeria’s skyline has become an unexpected stage for a drastic rise in private aviation, as reported by Nairametrics

What was once a rare symbol of elite mobility has grown into a fleet of well over a hundred business jets crisscrossing domestic and international routes.

According to industry figures, the number of private business aircraft operating in the country climbed from just 44 in 2005 to 157 by 2024, a surge of more than 350% that reflects both expanding wealth and shifting travel habits among the nation’s affluent.

Flying a private jet is not just about convenience; it’s about connecting business faster, offering access where commercial airlines cannot, flexibility, and providing a level of service that combines luxury, reliability, and exclusivity.

These jets allow business moguls, musicians, athletes, and other high-net-worth individuals to move quickly, either for work or leisure.

Flying a private jet is costly; flights start at around $3,000 and above, depending on the aircraft, distance, and level of luxury, making these jets accessible to only a select group of Nigeria’s economic elite.

The private jet business in Nigeria is built on relationships, trust, and discretion. Most clients come through referrals, with operators rarely advertising broadly.

Every flight is a careful balance of strict safety standards, experienced crews, and regulatory compliance from air operator certificates to international operational approvals.

This article explores the individuals driving Nigeria’s private jet market, investing heavily in one of the most elite forms of personal transport.

Here are the owners of commercial private jet companies in Nigeria

11. Yemi MacGregor- Stargate Jets Services Limited
10. Segun Demuren- Founder, Evergreen Apple Nigeria
9. Chukwuerika Achum- Founder, Falcon Aerospace Limited
8. Sam Iwuajoku- Founder, Quits Aviation Services and CEO ExecuJet Aviation Nigeria
7. Atedo Peterside- Founder, Anap Business Jets Limited
6. Samuel Salihu – CEO Private Business Jet Charter
5. Wisdom Ntoto – CEO Jetlyfe Aviation Ltd
4. Captain Ahmed Borodo- CEO Flybird Aviation
3. Dr. Ernest Azudialu Obiejesi -CEO Nesto Aviation Services Limited
2. Captain Edward Boyo –CEO Landover / Overland Airways
1. Dr. Elizabeth Jack-Rich- Founder, Elin Group Limited

What is the Dollar to Naira Exchange rate at the black market, also known as the parallel market (Aboki fx)?

You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1490 and sell at N1505 on Sunday, 11th January 2026 according to sources at Bureau De Change (BDC).

Black Market Exchange Rate Today 12th January, 2026
Buying Rate N1485
Selling Rate N1500

The exchange rate between the US dollar (USD) and the Nigerian naira (NGN) which rate we have given above; is a topic of high constant interest for people who are Nigerian and businesses and policymakers in Nigeria.

This rate of dollars to naira exchange rate influences not only the cost of imported goods but also the cost of travel, international education, and even local prices of certain commodities.

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Petrol prices at Nigerian depots have dropped to their lowest levels in months as intense competition grips the downstream market, following the apparent collapse of the fuel supply agreement between the Dangote Petroleum Refinery and independent marketers.

Fresh findings show that depot owners have slashed ex-depot prices to as low as N710 per litre, a sharp reversal from the steep hikes recorded just weeks earlier.,

In the first week of January 2026, depot owners sharply increased gantry prices after reports emerged that the Dangote Refinery had shut down its petrol production unit for maintenance.

Although the refinery denied the reports, the speculation was enough to jolt the market.

Depot prices surged, and the increases quickly filtered through to filling stations nationwide.

Independent marketers raised gantry prices from around N720 per litre to over N800 per litre, with analysts noting that depot operators were exploiting uncertainty surrounding Africa’s largest refinery.

Depot owners reverse course as competition intensifies
The price spike, however, has proven short-lived.

Checks reveal that depot owners have now reversed course, cutting prices aggressively to stay competitive with Dangote Refinery’s pricing structure, especially as fresh fuel imports enter the Nigerian market.

Data from PetroleumPriceNG shows that several major depots reduced prices significantly in recent days.

As of Sunday, January 11, 2026, ShellPlux sold petrol at N710 per litre, MAO at N715, while A.Y.M.

Falling crude oil prices add more pressure
Energy experts say global oil market dynamics are also contributing to the decline in local petrol prices.

“Crude oil is currently trading between $50 and $60 per barrel in the international market,” energy policy analyst Adeola Yusuf told Legit.ng.

According to him, ongoing geopolitical tensions involving Venezuela and Iran have pushed crude prices lower, with direct implications for refined fuel costs.

“Crude oil is often used as a political tool and is highly sensitive to geopolitical developments. When prices drop, refined product prices usually follow, especially in domestic markets,” Yusuf explained.