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FG Commences Construction Of First Aviacargo Village

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The Federal Government through the Federal Airport Authority of Nigeria, FAAN, has commenced the construction of the first aviacargo village in the country.

This move according to FAAN is geared towards transforming the country into an export driven economy and also a hub for agro-export in Africa.

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The cargo village occupies 27,000 square meters land mass, and can accommodate all the exports processes at the airport.

Vanguard had reported that since the introduction of air cargo system in the country, successive governments have failed to facilitate more export by air despite the availability of goods in the country.

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A reflection of the development shows that the sector’s share of total trade volume appears abysmal, as most aircraft leaves the country almost empty.

But, in reaction to the development, the Managing Director, FAAN, Mr. Kabir Mohammed, while speaking at the ground breaking ceremony stated that, establishing an aviacargo village was identified as one of the quick wins in addressing the rejection of agro-export from Nigeria and increasing the country’s exports and earnings.

He said: “The cargo village which is one of the proposed recommendations of the aviacargo road map committee, setup by FAAN, is meant to streamline the process of agro-export in the country and create a seamless operation from the farm to the airplane before it’s ferried abroad.

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“By this ground breaking ceremony taking place today, you can agree with me that FAAN management is truly determined to implement your recommendations with a view to taking the rightful number one position in aviacargo exports in Africa with the next few years.

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“This cargo village will be one-stop-s aimed at addressing most challenges militating against massive aviacargo exports in our country.

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“It will have facilities for cargo processing, packaging, certification, laboratory services, data gathering for traceability of products and produces etc.

“You can be assured that in the couple of years, cargo planes will be departing from our airports fully loaded with goods that meet destination standards and acceptance.”

On his part, the coordinator, Aviacargo Roadmap Committee, Mr Ikechi Uko said the ground breaking ceremony is a small step for agency and the committee members but a giant step for Nigeria.

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“I want use this opportunity to thank FAAN, the management staff, for what they have done. This is a small step for those of us here but it is a magic leap not just for FAAN but for Nigeria. We are number five in Africa, when we ought to be number one and this today starts the journey to number one aviation cargo hub Africa.

“I thank the Managing Director for bringing this to fruition and the whole committee members for supporting this project since we started. And the next time we will be here, there will be evidence of what we have done today.”
VANGUARD

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NNPCL Increases Fuel Price

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The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

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This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

READ ALSO:Fuel Station Manager, Three Others Arrested For Robbery

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

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This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

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Naira Appreciates Against Dollar As External Reserves Swell

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The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

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READ ALSO:Naira Continues To Appreciate Against Dollar On Official Market

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

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The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

 

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Naira Continues To Appreciate Against Dollar On Official Market

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The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

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This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

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Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

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Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.

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