Blog

acquires (3)

Bishop Oyedepo acquires $30m jet, builds private hanger

Posted by Paul "EFCC" Hawk Adams on April 8, 2011 at 4:08am
Bishop David Oyedepo, founder of Winners Chapel International is reported to have increased the number of jets in his hanger. The new aircraft is estimated to be worth a whooping $30m. 

This therefore brings the number of his private jets to four. .

The private jet, a Gulfstream V was declared to the over 10, 000 worshipers who thronged Canaanland on Sunday March 27th, by the bishop himself. 

The bishop said the new jet will be used exclusively for the ministry's African Mission. 

In his speech on Sunday, the bishop also announced that a state-of-the art private aircraft hanger that can accommodate five jets at a time is being built for his jets near the international wing of Murtala Mohammed International Airport.

Four jets

spacer.gif Bishop%20David%20Oyedepo%20jet1.jpg?width=400
spacer.gif
Bishop David Oyedepo cruising in one of his jets
Apart from this latest acquisition, the bishop has a Gulfstream 1 which he acquired in 1996, a Gulfstream 4 and a Challenger Aircraft.

When the spokesperson for the church, known only as Mr William, was contacted, he confirmed the story. 

"Yes, Bishop announced the purchase of a jet on Sunday," he said.
Read more…

Nitel Sold as New generation telecoms acquires NITEL

Posted by Jane Okinedo on February 16, 2010 at 11:44am

A consortium involving China Unicom bid $2.5 billion on Tuesday for the former state telecoms monopoly in Nigeria, one of the world's fastest growing markets, the privatization body said.

jpeg&STREAMOID=LmhiuTgtyIyaGfD_2wLDai6SYeqqxXXqBcOgKOfTXxQpivAbCYzC$40khlh7i_KPnW_PgxgftuECOcfJwS6Jtlp$r8Fy$6AAZ9zyPuHJ25T7a9GKDSxsGxtpmxP0VAUyHL6IDcZHtmM2t7xO$FHdJG95dFi6y2Uma3vSsvPpVyo-

The National Council on Privatization said New Generation Telecommunications Ltd. had become the preferred bidder for Nitel, which Nigeria has struggled to sell since liberalization in 2001 made it uncompetitive against rivals.

The privatization body said the consortium included China Unicom (Hong Kong) Limited, Minerva Group of Dubai and local company GiCell Wireless Limited. Their precise holdings in the consortium were not immediately available.

China, Africa's biggest trading partner, has invested billions of dollars in the continent in recent years, going far beyond its initial emphasis on mineral extraction.

Nigeria invited expressions of interest in July for a minimum of a 75 percent stake in the Nitel conglomerate or a stake in one or several of its components, including mobile arm MTEL, the South Atlantic Terminal underwater cable (SAT-3) and its domestic fixed line network.

After the bid is approved by the privatization council, the group will have 10 days to pay 30 percent of the purchase price and a further 50 days to pay the rest. The reserve bidder was Omen International Ltd (BVI) with a bid of $956 million.

"We will pay within the stipulated time. We did not make a hypothetical offer," said Abubakar Usman from New Generation.

South Africa's MTN was among the bidders, but only for a stake in the SAT-3 underwater cable.

Nigeria has overtaken South Africa to become the biggest telecoms market in Africa.

But the government has struggled to sell the firm mainly because of the shambolic state of its fixed line infrastructure.

Its fixed lines have fallen to less than 100,000 from five times that number in 2001 and MTEL subscribers have dropped to a few thousand from over 1 million.

Nigeria ended Nitel's monopoly in 2001 and tried to sell it the same year. But preferred bidders failed to pay the $1.3 billion price tag by the deadline, leaving it in state hands.

Local conglomerate Transcorp later bought a majority state in the firm but the government took back control last June, citing a lack of investment and unpaid debts.

Nigeria came close to selling Nitel in late 2005 to Egypt's Orascom Telecom, but the government rejected the $257 million offer as too low.

Read more…

Legislator acquires private jet . Says its cheaper than cars

Posted by Jane Okinedo on June 15, 2009 at 8:18pm
After six years as a member of the House of Representatives, Hon. Bala Ibn Na’Allah has made history as the first lawmaker in the country since independence to fly a private jet. He acquired the aircraft recently in the United States of America (USA).Hon Bala Ibn Na’Allahadvertisement http://www.ask9ja.com classifiedsHis recent diatribes against criminality in the Niger Delta struggle, which had attracted flaks notwithstanding, Na’Allah, a lawyer by profession, who became very popular at the Oputa Panel, qualified as a pilot after undergoing training at the Nigerian College of Aviation Technology in Zaria.He was certified to fly an aircraft after he undertook a successful solo flight under the supervision of a professional pilot, according to international practice.Representing Zuru/Fakai/Zakaba/ Dawazagu Federal Constituency of Kebbi State in the House of Representatives, N’ Allah recently flew the small aircraft in the company of this writer from Kaduna to Abuja on a day the weather was clement in the morning, but became turbulent in the evening.Sitting next to him in the cockpit as ‘co-pilot’, one marveled as Na’Allah displayed his dexterity in manipulating and navigating the aircraft through the cloudy weather between Kaduna and Abuja .“There is a way the weather will tell you if it is going to be bad. This is one of the beauties of flying,” he pointed out before entering the aircraft.Apart from the weather telling you what would happen in the next few hours, Na’Allah explained that the aircraft has a way of telling the pilot when it is not ready to fly.“If the aircraft is not ready to fly, it will tell you during the pre-flight check, which must be carried out before any flight is undertaken,” Na’Allah said.As a matter of routine, a pilot must first obtain weather forecast for his/her route from the meteorological station.On this very day, Nallah obtained the weather forecast for Kaduna-Abuja route from the weather station. He came back smiling that the weather was okay, but that “we have to be airborne quickly to avoid rough weather later in the day around Abuja airspace.”Before jumping into the aircraft for the Abuja trip, he carried out the check, he gauged the pressure level, checked the tyre and the fuel levels, and the journey was underway.Watching him manipulating the buttons and communicating with Kano, Abuja and Kaduna airports was a delight. He sought and got clearance from the Kaduna Control Towers before entering the runaway to make way for an in-coming big aircraft.He was cleared to take off and established contact with Kano that he was airborne; and then Abuja to prepare for his landing in less than one hour.Kaduna told him the altitude he must fly to avoid troubled weather. He shared the information with Kano and Abuja and the weather situation at take off.When he gained balance and stabilized the aircraft, he opened discussion with his ‘co-pilot’, not on the weather forecast or the technicality of getting the aircraft off the ground and maintaining a balance against an unstable weather.Why should Na’Allah be interested in flying, a risky thing at this stage of his life, even when he had made it as a lawyer and as a politician? He said flying was the best thing that has ever happened to him.“I am enjoying it more than anything. To fly is the easiest thing to do. I have come to realize it. In fact, if it is possible, I won’t mind flying an aircraft from my bedroom to the toilet,” he said.The high death toll resulting from crash landing and disappearance of aircraft has not instilled any fear in Na’Allah. He was emphatic that cumulatively, the number of death resulting from road accidents was far higher than that recorded from the air.“Flying is million times safer than driving on the roads. Unlike the roads where you have mad drivers that can drive you crazy, there is nothing like that on air.“The number of air mishaps is not comparable with the number of auto crashes we record on daily basis on our roads. Do you know that you cannot jump into an aircraft without knowing the weather forecast? You can’t hop into the aircraft for a journey without certifying the health status of the aircraft,” he explained.Furthermore, he said, “the safety of the pilot, the aircraft and the passengers is paramount and standards have been set internationally to guarantee this without any compromise. This is the only means of transportation that is programmed, monitored and sustained.Unlike in the USA where several senators and members of the House of Representatives own and fly their private jets, acquiring jets in Nigeria is elitist by all standards.Na’Allah agreed that it might look elitist to own a private jet, but insisted that it was cheaper for him to maintain his small aircraft, than to maintain some cars in his garage. Na’Allah was a car dealer before venturing into politics.“The experience I have gathered since I took delivery of my aircraft showed that it was far, far cheaper to maintain than maintaining my cars. Can you imagine that a return flight from Abuja to Zuru, my village will cost me 50 litres of petrol, whereas, my Jeep will consume over 200 litres?” he queried rhetorically.In terms of time, he explained, by road the same journey will take between seven and eight hours, whereas, it will take one hour, 40 minutes by air. “In Zuru, my village, there is an air strip, don’t forget, I am representing the home of generals, not to talk of Kebbi with an Airport. In most cities in Nigeria , there are places to accommodate light aircraft for landing and take off, said Na’Allah.Still debunking insinuation that acquiring a jet is a display of ostentation in the midst of poverty, Na’Allah said that the cost of servicing his Propellered-CESSNA-172 model was not up to the price of 2008 model of Toyota or Honda products.“To service it after a mandatory 50-hour flight, which is the equivalent of servicing a car, costs less than N50,000. And for maintenance, the retainership fee with Aviation Maintenance Organization [AMO] per annum is about N200,000.“Precisely, he said that the C-172 air craft manufactured in 1971 and registered with Nigeria ’s aviation authorities as 5N-BRT cost him about $48,000 to acquire.For his landing fee at any of the airports in the country, the charge paid is N200, while the three tyres cost $182 to replace every three years, depending on the number of successful landing.“In all, you will see that it is very cheap to maintain this air craft than to maintain the latest car in the market. I am not a Christian, but I understand that the Bible says that ‘my people perishes because of lack of knowledge’.“I think if people know that it is cheaper to acquire and maintain a small air craft like my own, many Nigerians would not hesitate to get one today, than the craze for buying flashy cars, with armed robbers trailing you, not to talk of bad roads and frequent car crash,” he said.The idea of owning a jet and flying it came to the law maker after years of consultancy in Aviation Insurance. And to achieve his aim, Na’Allah enrolled at the Nigerian College of Aviation Technology (NCAT) in Zaria for training as a non-professional pilot.He graduated and was certified to fly before he jetted out to South Africa for further training in type rating.He explained: “Type rating is the training in the category of aircraft you can fly. If you want to fly another category of aircraft, you must undergo fresh training and certified by another pilot, unlike driving just any car so long as you have your driving license.”Economically, he said that it was even wiser and cheaper to invest in air strips than put roads everywhere.
Read more…

Latest Blog Posts

Most Popular Blog Posts

Blog Topics by Tags

  • in (506)
  • to (479)
  • of (339)
  • ! (213)
  • as (166)
  • is (157)
  • a (156)

Monthly Archives