Business
Dana Air Asset Recovery Offers Hope for Passengers
Dana Air asset recovery could refund passengers and travel agents trapped by the airline’s suspension. Government explores bold measures
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has revealed that the federal government may pursue Dana Air asset recovery to refund passengers and travel agents whose funds remain trapped following the suspension of the airline’s operations.
Also read: NCAA clarifies: Airline ticket prices are deregulated
Speaking on Tuesday during the Ministry’s fourth-quarter stakeholders’ engagement, Mr Keyamo emphasised that the Nigeria Civil Aviation Authority (NCAA) will be directed to investigate why refunds are still pending.
The event, themed “Leveraging Public Feedback to Drive Excellence in Aviation Services,” highlighted the government’s focus on safety and accountability in the aviation sector.
“For Dana, the problem was a choice between safety and disaster. Commercial considerations were not our priority; safety was,” Keyamo said. “We looked at damning reports on their operations.
If they had continued flying, many of us could have been victims. God forbid.”
He explained that the NCAA suspended Dana Air’s operations based on safety concerns, but assured that financial restitution for affected passengers and agents remains a top priority.
“I have asked the NCAA Director General to dig deep to ensure passengers and agents are refunded. If entities involved attempt to re-enter aviation, they must first settle outstanding debts.
We should explore selling available assets to recover funds and compensate Nigerians,” Keyamo added.
Experts suggest that such decisive measures could set a precedent for accountability in Nigeria’s aviation sector while restoring public trust.
Also read: NCAA clarifies: Airline ticket prices are deregulated
Dana Air asset recovery may now offer a concrete path to resolving the longstanding financial uncertainty faced by passengers and travel agents.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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