RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Nigeria To Partner With Hungarian Company On Airplane Production

Lateefah Ibrahim

Rate Captain by Rate Captain
August 24, 2021
in Business, Economics, News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

Lagos Rolls Out Cybersecurity Guidelines to Tackle N250 Billion Annual Cybercrime Losses

IMF Refuses to Endorse External or Domestic Borrowing for Nigeria.

Nigerian Airlines Issue Ultimatum: “We May Shut Down Operations Over N3,000/Litre Jet Fuel”

 The Government of Nigeria has expressed readiness to partner with the Magnus aircraft, a Manufacturing industry in Hungary to establish an assembling plant and begin to manufacture in Nigeria from start to finish before the end of the President  Muhammadu Buhari administration.

The Minister of Aviation Senator Hadi Sirika expressed the interest when he paid an inspection visit to the Magnus Aircraft Industry in Pogany, Hungary.

He said that “if we venture with them, we may start with assembling plants and later manufacturing”.

The minister also said  that the Magnus aircraft was an aeroplane that is good for Military training, has an aerobatic manoeuvre and is made of fully composite materials, high strength and very lightweight.

Senator Sirika further said that he was very satisfied with the features and more than willing to facilitate the production of the aeroplanes in Nigeria, saying one of the significant features of the Magnus aircraft is that it uses normal car petrol and outperforms any training aircraft of its kind.

The Minister who was at the facility on the invitation of the Company, said the proposed partnership with the aircraft manufacturer will be subjected to further analysis to verify the market and government willingness to partner with a significant amount of money and logistics.

He emphasised that the local production of aircrafts in the country will facilitate the growth of Nigeria as a regional aviation super power as it will also come with maintenance and repair facilities that will attract patronage from neighbouring countries.

According to him,  the present administration has created an attractive environment for international investors in Nigeria,  especially in the aviation sector,  with the ongoing implementation of the development roadmap which places emphasis on public private partnerships.

Aerobatics is the practice of flying manoeuvres involving aircraft attitudes that are not used in normal flight. Aerobatics are performed in airplanes and gliders for training, recreation, entertainment, and sport.

Previous Post

Nigeria’s Mutual fund hits N1.28trn as Stanbic, United Capital, FBN Capital lead

Next Post

Emirates Adds Flights in Bid to Recover Long-Haul Crown

Related News

Lagos Rolls Out Cybersecurity Guidelines to Tackle N250 Billion Annual Cybercrime Losses

by Victoria Attah
April 20, 2026
0

The Lagos State Government has unveiled a comprehensive set of cybersecurity guidelines aimed at protecting businesses, public institutions, and residents...

IMF Applauds Tinubu Policy Reforms While Lowering Growth Projections

IMF Refuses to Endorse External or Domestic Borrowing for Nigeria.

by Victoria Attah
April 17, 2026
0

The International Monetary Fund (IMF) has declined to recommend whether Nigeria should prioritise external or domestic borrowing, insisting instead that...

Nigerian Airlines Issue Ultimatum: “We May Shut Down Operations Over N3,000/Litre Jet Fuel”

by Victoria Attah
April 16, 2026
0

Nigerian airlines have issued a dramatic ultimatum, warning that they may suspend all domestic and international flight operations nationwide from...

$26 Billion for unidentified source passed through Binance-Cardoso

CBN Tightens Oversight on Digital Finance as Nigeria’s Fintech Boom Accelerates

by Jide Omodele
April 13, 2026
0

As Nigeria’s digital finance sector experiences explosive growth, the Central Bank of Nigeria (CBN) is stepping up its regulatory efforts...

Next Post

Emirates Adds Flights in Bid to Recover Long-Haul Crown

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Naira Opens New Trading Week with Slight Depreciation in Official Market

April 20, 2026
US Inflation drives the Dollar to reach a two-decade high

Nigerian Breweries Warns of FX Risks and Higher Inflation from Middle East Instability 

April 20, 2026

Popular Story

  • Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

    Naira Opens New Trading Week with Slight Depreciation in Official Market

    0 shares
    Share 0 Tweet 0
  • Abuja BDC Operators Suspend Operations Due to Dollar Scarcity

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Money Supply Declines for the First Time in 2025, Drops to N110.32 Trillion

    0 shares
    Share 0 Tweet 0
  • Brent Crude Price at $84.21 Per Barrel as Oil Prices Face Weekly Decline

    0 shares
    Share 0 Tweet 0
  • Mobile Money Transactions to Hits N46.6 Trillion in 2023-NIBSS

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>