Business
Foreign Students at NCAT Boost Federal Forex Earnings
There is Foreign Exchange boost for the federal government as foreign students now throng the Nigeria College of Aviation Technology (NCAT), Zaria Kaduna State for training
This was disclosed by the rector of the College, Dr Danjuma Ismaila, over the weekend, in an interview with LEADERSHIP at the just concluded 2025 training for Aviation journalists, held in Zaria, Kaduna State.
According to him, students from Egypt, Asia, other French speaking countries among others now come to the school for aviation training.
He, however, complained about funding and infrastructure challenges which he said has limited the prospect of the foremost aviation training college.
“We have opportunities to serve every part of the world. For instance, training on ATPL certificate whether you obtain it here or there, it is the same thing that is certified by the UK CAA.
Our CAA is being certified by the NCAA which is equally International Civil Aviation Organization (ICAO) certified.
“We have opportunities to have participants from all over the world because some of the courses we run which are in collaboration with ICAO. We generate a lot of foreign exchange into the country and we have the potential to generate more to the nation.
“By the time our flight simulators start operation, we will expect more participation from Asian countries. Right now, both Nigerian pilots and Asian pilots are queuing in Dubai waiting for the period to go and attend the flight simulator training. We have it here and will soon start operating it here.
“By then, people will be queuing on our own side because it is scarce globally and this will fetch us a lot of foreign exchange,” the Rector stated.
Dr Ismaila continued, “Right now, we are expecting some Egyptians. They are pleading with us to come and organize a programme for them on June 16. One of our instrument rating wanted to have a training on that. They are controllers from Egypt and wanted to learn. Some two months back, we trained some French speaking countries who wanted to learn aviation English only that we don’t have the right infrastructure that will attract them.”
The Rector, however, stated that right infrastructure will attract foreigners to the institutions because the institution charges are affordable compared to its comptemporaries across the world.
“When we put the right infrastructure in place, we can attract these foreigners because our own charges are affordable by most of these countries when you compare it with other parts of the world. I think previous management of the college did not give that the attention it requires or they were not so aggressive in terms of looking for developing critical infrastructure.
“For me and the Minister of Aviation, Festus Keyamo, we are working day and night to see how we can reposition this college. This is a simple challenge; it is not technical. It is just issue of accommodation, limiting us for our intake. Like I said, there are some infrastructure that are of critical need and these are infrastructure that will facilitate us to position the college.
“One of these is befitting accommodation. Most of the accommodation are in shambles or incorrect shape but we can easily renovate them or upgrade them to the standard that we want to be. Another one is to have classrooms and also have facilities, especially technical facilities for the different type of courses.
“Many courses that are being required by aviation professionals globally and locally; we need all of these facilities in place. Some of these facilities also need continued upgraded. Even if you own the facility, it is not the end of it, we need to continue to upgrade the system, cultivate new developments and new areas and that is why we need a lot of investments.
“We need to make the facilities truly look international. Some of these buildings are as old as 1960s. We need to upgrade them to look modern. A student has a choice especially the one that is used to international arena. When he comes here, he will respect us,” the Rector stated.
Leadership.ng
The Central Bank of Nigeria (CBN) has announced a new exchange rate for the dollar, with the naira closing at N1,357 per dollar despite high demand for the greenback.
According to data from the CBN, the naira closed flat at N1,357 to a dollar, indicating no change from the previous trading session.
The current rate comes as Nigeria’s external reserves hit $52 billion, a 17-year high. Experts have said the current naira stability has trickled down to other sectors, with imports now getting cheaper.
The CBN sharply ramped up its foreign exchange interventions in March 2026, selling $953.41m to the market in what the data shows is the strongest central bank FX activity since April 2025.
Figures published in the CBN’s latest Quarterly Statistical Bulletin showed that spot market transactions made up the bulk of the March sales, with $950.10m channelled through that route and a further $3.31m directed to Ministries, Departments and Agencies.
The March figure represents a dramatic swing from the opening months of 2026. The CBN sold just $58.93m in January and $244.13m in February, meaning March’s intervention was more than 16 times the January level and roughly 291 per cent above February’s sales.
The last time interventions reached a comparable scale was April 2025, when the CBN supplied $1.65bn to the market. Sales cooled significantly after that peak, falling to $838.93m in May, $676.31m in June, and then sliding further to $399.80m in September and $150.10m in October before picking up again towards the close of 2025.
The chairman of Dangote Cement Plc, Emmanuel Ikazoboh, has explained why cement prices remain high across Nigeria, attributing the persistent increases to rising energy costs and the impact of foreign exchange on production expenses.
His comments come amid growing concerns from Nigerians over the soaring cost of building materials, with many calling on the government to intervene as cement prices continue to put pressure on construction projects and housing development.
Speaking during the 17th Annual General Meeting (AGM) of Dangote Cement Plc in Lagos, Ikazoboh said energy remains the biggest cost component in cement manufacturing, accounting for about 60 per cent of total production expenses.
Energy, dollar exchange rate driving costs According to Ikazoboh, cement manufacturers rely heavily on gas, coal, and diesel to power their operations. He noted that gas, one of the key energy sources, is sold in United States dollars, exposing manufacturers to exchange rate fluctuations. He explained that the continued depreciation of the naira against the US dollar has significantly increased production costs, making it difficult for manufacturers to maintain lower prices.
According to Ikazoboh, cement manufacturers rely heavily on gas, coal, and diesel to power their operations. He noted that gas, one of the key energy sources, is sold in United States dollars, exposing manufacturers to exchange rate fluctuations.
He explained that the continued depreciation of the naira against the US dollar has significantly increased production costs, making it difficult for manufacturers to maintain lower prices. “To produce a bag of cement, we need energy, which constitutes about 60 per cent of the production cost. To generate that energy, we use gas, coal or diesel,” he said.
“Gas is sold to us in US dollars, and its price continues to increase. We all know the impact of the exchange rate between the dollar and the naira. As a result, the cost of generating energy keeps rising.”
His remarks offer one of the clearest explanations yet from the country’s largest cement producer on the factors behind recent price increases.
Business
Dr. Deji Adeleke: How Davido’s Billionaire Father Built His Business Empire; Major Companies Linked to Him
Dr. Deji Adeleke, the father of the globally recognized musician Davido, is not just known for his familial ties to the entertainment industry but also his immense wealth and substantial impact on Nigeria’s economic landscape. Born on March 6, 1957, in Enugu, Nigeria, Adedeji Adeleke has built a formidable empire through his business acumen and educational investments.
Adeleke’s Business Ventures
Dr. Adeleke founded Pacific Holdings Limited in 1983, which has grown into a major conglomerate in Nigeria, encompassing various sectors such as agriculture, energy, and real estate.
This company is a cornerstone of his financial success, with divisions like Pacific Farm Limited, Pacific Freightliners Limited, and Pacific Gas Company Limited contributing significantly to his wealth.
Adeleke’s Real Estate Investments
Adeleke’s real estate portfolio is vast and diversified. He owns properties across Nigeria, including high-value areas like Ikoyi, Lekki, Banana Island, and Victoria Island in Lagos. Additionally, he has invested in international properties, including a mansion in Atlanta, USA, which he acquired to celebrate his 60th birthday.
Adeleke’s University and Philanthropy
In line with his passion for education, Adeleke founded Adeleke University in Ede, Osun State, under the auspices of the Springtime Development Foundation, which he established in 1996. The university operates on the Seventh-day Adventist philosophy of education and offers various undergraduate and postgraduate programs.
His philanthropic efforts extend beyond education, impacting healthcare and community development. These initiatives not only enhance his public image but also contribute to long-term societal benefits, reinforcing his legacy as a socially responsible entrepreneur.
Adeleke’s Luxurious Lifestyle
Dr. Adeleke’s lifestyle reflects his financial success. He owns luxury cars such as a Rolls Royce Phantom and a 2017 Bentley Mulsanne, and he flies in style with his Bombardier Global Express 6000 private jet, valued at $62 million.
Adeleke’s Net Worth
Estimations of Adeleke’s net worth vary, with some sources placing it around $700 million, while others suggest it could be as high as $2 billion. His wealth is attributed to his diversified investments in real estate, stocks, and bonds, alongside the thriving operations of Pacific Holdings Limited.
Adeleke’s Family and Personal Life
Adeleke is a father to four children: Adewale, David (Davido), Sharon, and Coco Adeleke. Despite initial resistance to Davido’s music career, he eventually supported his son’s passion, even funding the establishment of a music department at Babcock University for him. Today, Davido is not only a successful musician but also a director in the family business.
Conclusion
Dr. Deji Adeleke’s story is one of remarkable success through strategic education, entrepreneurship, and philanthropy. His wealth and business acumen have positioned him as one of Nigeria’s most influential figures, contributing significantly to the nation’s economic and social development. As he continues to invest and expand his empire, his legacy is set to influence future generations both within and outside Nigeria.
Adeleke’s Early Life and Education
Adeleke’s journey began in an affluent family in Lagos. He attended Ansar-ud-Deen Primary School and Seventh-Day Adventist Grammar School before moving to the United States, where he earned a degree in Finance from Western Kentucky University in 1979, followed by an MBA. Furthering his education, he obtained a Ph.D. in International Business from Pacific Columbia University, and another Ph.D. in Business Administration from the University of Phoenix in 2010.
– kashgain
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