The Chairman and Chief Executive Officer of Air Peace, Dr. Allen Onyema, has commended Fidelity Bank Plc for successfully repaying its $400 million Eurobond at maturity, describing the achievement as evidence of the bank’s financial strength and sound management.

Onyema particularly applauded the bank for financing the repayment entirely from its internal liquidity after meeting its obligations throughout the five-year tenure of the Eurobond.

In a congratulatory message issued on behalf of the Board, Management and Staff of Air Peace Limited, the airline chief attributed the achievement to the strategic leadership of Fidelity Bank’s Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe.

He noted that the bank’s successful repayment of the Eurobond, alongside its completion of the recapitalisation exercise ahead of the Central Bank of Nigeria’s stipulated deadline, demonstrated its commitment to sound corporate governance and sustainable financial management.

Onyema also highlighted the importance of financially strong banking institutions to the growth of capital-intensive sectors such as aviation, where access to financing is critical for fleet expansion, operational sustainability and industry development.

He stressed that resilient financial institutions and strong partnerships with indigenous businesses were essential to strengthening Nigeria’s economic competitiveness and supporting national development.

The Air Peace chairman congratulated Onyeali-Ikpe, the bank’s Board, Management and staff on the achievement, expressing confidence in the institution’s capacity to record greater milestones.

He also reaffirmed Air Peace’s goodwill towards Fidelity Bank, wishing the financial institution continued growth, stability and greater accomplishments in Nigeria’s banking industry.

Nigeria and Russia have agreed to renegotiate their 59-year-old Bilateral Air Services Agreement (BASA), with both countries setting April 2027 as the deadline for concluding negotiations and signing a new agreement.

The decision followed a high-level bilateral meeting led by the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, and Russia’s State Secretary and Deputy Minister of Transport, Dmitry Stanislavovich Zverev, on the sidelines of the Third Russia-Africa Summit in Moscow.

The proposed renegotiation is aimed at replacing the existing agreement, which dates back to 1967, with a modern framework that reflects current developments and emerging opportunities in international aviation.

The development was disclosed in a statement signed by Tunde Moshood, Special Adviser on Media and Communications to the Minister of Aviation and Aerospace Development.

Both countries agreed that negotiations would be concluded within six months, with the new agreement scheduled for signing in Saint Petersburg, Russia, in April 2027.

To ensure that the deadline is met, Nigeria and Russia have constituted their respective negotiating teams to begin work immediately on the proposed agreement.

The revised BASA is expected to strengthen air transport relations between both countries, improve connectivity, promote institutional collaboration and create opportunities for mutually beneficial engagement between their aviation industries.

Beyond the renegotiation of the air services agreement, the meeting also considered other areas of potential cooperation between Nigeria and Russia, with both sides expressing readiness to explore opportunities that could deepen bilateral relations in aviation and related sectors.

The Nigerian delegation included the Director-General of the Nigerian Civil Aviation Authority (NCAA), Capt. Chris Najomo; the Registrar of the Nigerian College of Aviation Technology (NCAT), Dr. Danjuma Adamu Ismaila; and directors from the Federal Ministry of Aviation and Aerospace Development and the NCAA.

The meeting forms part of Nigeria’s efforts to strengthen international aviation partnerships and update existing bilateral frameworks to reflect changing industry realities.

…Pledges quality jobs for Nigerians

The Chairman of Bi-Courtney Aviation Services Limited (BASL), Dr. Wale Babalakin, SAN, has commended President Bola Tinubu for facilitating the settlement of the more than 18-year dispute surrounding the Murtala Muhammed Airport Terminal Two (MMA2), describing the agreement as a victory for Nigeria.

Babalakin gave the commendation at the signing ceremony involving the Federal Government, the Federal Airports Authority of Nigeria (FAAN), Bi-Courtney Limited and Stabilini Visinoni Limited, following the resolution of the longstanding disagreement.

He credited the President’s intervention, facilitated through the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, with helping to resolve the impasse.

“This is not a win for us alone; it is a win for Nigerians,” Babalakin said, while expressing appreciation to the President, the minister and Nigerians who had followed the dispute over the years.

The development is expected to provide a basis for renewed cooperation among the parties and create opportunities for further infrastructure development and expanded operations at MMA2.

In a statement signed by the Head of Corporate Communications, Bi-Courtney Aviation Services Limited, Mrs. Ajoke Yinka-Olawuyi, the company said the settlement also addresses outstanding issues arising from the parties’ longstanding commercial relationship, including matters relating to the General Aviation Terminal (GAT), which remained under FAAN’s control and operation.

The agreement incorporates reciprocal concessions and revised obligations, providing a framework for the parties to move forward.

Babalakin said the resolution sends a positive signal to investors that longstanding disputes between government and private businesses can be resolved through dialogue and constructive engagement.

He noted that prolonged uncertainty could discourage long-term investment, adding that the settlement presents an opportunity to strengthen confidence in Nigeria’s investment environment.

The agreement is also expected to facilitate progress on key projects at MMA2, including the proposed Hotel and Conference Centre and the commencement of regional flight operations.

According to Babalakin, completing the hotel and conference facility would provide accommodation and meeting facilities for business travellers, corporate organisations and other airport users, while creating employment opportunities in construction, engineering, hospitality and facility management.

The planned regional flight operations, alongside the proposed expansion of the airport apron, are also expected to create opportunities for skilled employment and commercial growth.

Babalakin assured stakeholders that Bi-Courtney would fulfil its obligations under the agreement and work with the relevant parties to implement its provisions.

“We will not disappoint the President, the Ministry of Aviation and Aerospace Development, FAAN or Nigerians,” he said.

He added that the settlement offered an opportunity to strengthen cooperation, advance infrastructure development and realise MMA2’s full potential.