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Private jet ownership in Nigeria has grown by 650 per cent, from 20 jets in 2007 to over 150 jets in 2012. According to documents sighted in aviation agencies, the development means that wealthy Nigerians acquired, at least, 130 private jets with a sum of N1.02tn ($6.5bn) within the last five years. This put the private jets aviation market in Nigeria (the monetary value of all private jets in the country) at N1.18tn ($7.5bn), using $50m as the average cost of each brand new private jet. A private jet goes for between $40m and $65m, according to the websites of major private jets manufacturers, like Bombardier of Canada; GulfStream and Hawker Siddley of United States; and Embraer of Brazil. According to findings, the common brands of private jets in Nigeria are Gulfstream 450, 550 and 650; Bombardier Challenger 604, 605; Global Express; Embraer Legacy and Falcons; and Hawker Siddley 125-800 and 900XP. Top aviation officials told our correspondent on Friday ...

OVER 15 foreign countries have already signified interest to participate in this year’s edition of Lagos International Trade Fair, against 14 that took part last year. According to the chamber in a media statement signed by the Public Relations Manager of Lagos Chamber of Commerce and Industry (LCCI), organizers of the fair, Tope Oluwaleye, the Chamber has concluded plans for Business-to-Business (B2B) meetings between indigenous and foreign exhibitors seeking trade opportunities and partnerships at this year’s Lagos International Trade Fair, which runs from November 2nd to 11th at the Tafawa Balewa Square (TBS) in the heart of Lagos. This, he said, was in line with the theme of the 2012 Fair: “Promoting Trade for Sustainable Economic Transformation” and renewed drive by the government as well as sundry interest groups to showcase and promote potentials in the Nigerian economy. He explained: “LCCI decided to shift the venue of the fair, tagged ‘The Biggest and the Bes...