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

Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

Brent Falls to About $101.71 and WTI Drops Below $100 as US-Iran Diplomacy Hopes Rise

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

 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

NGX Fines Banks N76.8 Million for Late Financial Reporting

Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

by Victoria Attah
September 29, 2026
0

Nigeria’s capital market regulators have scored a significant enforcement win after a Federal High Court in Nasarawa State convicted 21...

Oil Prices Reach $90 Following Supply Reduction by Saudi Arabia and Russia.

Brent Falls to About $101.71 and WTI Drops Below $100 as US-Iran Diplomacy Hopes Rise

by Akpan Edidong
September 21, 2026
0

Brent crude eased to about $101.71 a barrel while US West Texas Intermediate slipped below $100 as investors assessed renewed...

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

by Jide Omodele
September 17, 2026
0

The Nigerian Exchange recorded turnover of 662.35 million shares on Wednesday, 16 September 2026, as investors kept up strong activity...

Naira Strengthens as Anticipation Mounts for $10 Billion Forex Inflows

Naira Weakens at Official Market After Two-Day Advance

by Jide Omodele
September 10, 2026
0

The naira recorded its first depreciation of the week in the official foreign exchange market, falling to N1,329.21 per dollar...

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 Seen Holding in N1,290–N1,370 Range Through October

October 19, 2026
Leading Banks Struggle with Capital Deficits: Zenith Bank and Others Strive to Meet CBN Standards

Bank Lending to Manufacturers Drops 26.8% to N5.19 Trillion, CBN Data Show

October 19, 2026

Popular Story

  • Leading Banks Struggle with Capital Deficits: Zenith Bank and Others Strive to Meet CBN Standards

    Bank Lending to Manufacturers Drops 26.8% to N5.19 Trillion, CBN Data Show

    0 shares
    Share 0 Tweet 0
  • 7% Economic Growth Ambition Hinges on Currency Calm and Cheaper Food

    0 shares
    Share 0 Tweet 0
  • JP Morgan and Absa Eye Nigerian Merchant Banking Licences as Reserves Reach $55 Billion

    0 shares
    Share 0 Tweet 0
  • Naira Seen Holding in N1,290–N1,370 Range Through October

    0 shares
    Share 0 Tweet 0
  • Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

    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}
?>