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Explomar to Develop Nigeria’s First All-Electric OMIBUS Ferry for Caverton

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Caverton

By Aduragbemi Omiyale

In line with its strategic growth agenda, Caverton is actively repositioning its marine and aviation divisions, entering into a groundbreaking strategic partnership with a Chinese electric marine engine manufacturer known as Explomar.

A statement from the Lagos-based firm disclosed that this collaboration aims to develop Nigeria’s first all-electric OMIBUS ferry, pioneering sustainable marine transportation in the region.

Additionally, Caverton is advancing several other innovative boat-building and design projects, leveraging cutting-edge technology and sustainable practices to enhance its marine fleet and capabilities.

Also, the company is refining its charter business while expanding its maintenance and training business units.

It recently diversified into unmanned aerial vehicles (UAVs), opening new avenues for innovative aerial solutions in the oil and gas, security, and logistics sectors.

“Our collaboration with Explomar marks a significant milestone in our commitment to innovation and sustainability.

“Developing Nigeria’s first all-electric ferry exemplifies our dedication to environmentally responsible solutions that will revolutionize maritime transportation.

“This project, along with other vessel design initiatives, positions Caverton as a leader in green maritime technology in Africa,” the chief executive of Caverton, Mr Bode Makanjuola, stated.

Last week, Caverton filed its financial statements for the first half of the year ended June 30, 2025, to the Nigerian Exchange (NGX) Limited, though its revenue slipped to N16.1 billion from the N18.8 billion recorded in the same period of 2024.

However, the organisation bounced back into profitability after it declared a Profit Before Tax of M2.1 billion compared with the loss before tax of N3.7 billion declared in the first six months of last year.

Travel/Tourism

Tinubu Bans Sale of FAAN Properties Amid Private Sector Interests

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By Adedapo Adesanya

President Bola Tinubu has ordered a strict prohibition on the sale or transfer of any properties owned by the Federal Airports Authority of Nigeria (FAAN) located within or adjacent to airport areas, amid increased private interest in the aviation sector.

This was revealed on Thursday by the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, during a briefing with State House reporters following the Federal Executive Council (FEC) meeting in Abuja.

Mr Keyamo clarified that the order superseded any asset liquidation efforts from prior governments, underscoring that the holdings were vital national resources that must stay in public hands.

He highlighted the necessity of on-site housing for critical staff, such as firefighters and air traffic controllers, to enable swift crisis interventions, a key rationale for preserving these sites.

“These properties will not be handed over to private entities.

“If anyone thinks they’ve acquired one, they should reconsider,” the minister warned.

In addition, the FEC approved eight initiatives for the aviation sector, spanning safety protocols, technological advancements, concessions, and fortified security measures.

Among them were procurement deals for upkeep and technical support of Aeronautical Information Management (AIM) systems at Nigeria’s five primary international gateways in Abuja, Lagos, Kano, Port Harcourt, and Enugu.

The council also authorised the rollout of cutting-edge Terrestrial Trunked Radio (TETRA) energy infrastructure across the country, plus 14 VHF remote communication units for the Nigerian Airspace Management Agency (NAMA) to elevate air navigation reliability.

To align with International Civil Aviation Organisation (ICAO) requirements, approval was given for acquiring 15 specialised airport rescue and firefighting trucks tailored for those same major hubs.

Mr Keyamo disclosed that NAMA, which has been leasing office space in Abuja, will soon occupy a custom-designed headquarters there, citing the hazards of situating sensitive command centres in commercial properties.

The FEC further endorsed the economic viability study for privatising Port Harcourt International Airport’s operations.

Under the present leadership, Mr Keyamo noted a surge in private sector enthusiasm.

“Prior to our tenure, interest was nonexistent. Today, more than six firms are vying for the opportunity,” he stated, while pledging to unions that no staff redundancies would result from the deal.

Other nods included a seamless, NIN-integrated biometric screening for passengers at all airports aimed at curbing impersonation and bolstering defences.

“Far too many flyers use bogus IDs. This tech will verify identities in real time,” Mr Keyamo explained.

The council validated 2024 budget allocations for runway illumination at targeted facilities, enabling round-the-clock viability and aiding carriers’ profitability.

“Certain airports close at 6 p.m. due to absent lights. These enhancements will extend service to 10 or 11 p.m.,” he observed.

Mr Keyamo urged aviation labour groups to back the reforms, affirming his worker-friendly stance, but added that “labour organisations cannot override executive decisions.”

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Travel/Tourism

RateGain Concludes Sojern Acquisition

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By Modupe Gbadeyanka

The acquisition of Sojern by RateGain Travel Technologies Limited has been completed, positioning the buyer among the top global travel technology providers by revenue and customer reach.

Together, the companies will enable travel and hospitality brands to connect marketing, distribution, and revenue decisions through an AI-driven platform enhancing multichannel demand generation for accurate targeting, pricing intelligence, and traveler engagement at scale.

The merger of the two firms will empower the travel brands to drive profitable growth through smarter, data-driven customer engagement.

RateGain is global provider of AI-powered SaaS solutions for the hospitality and travel industry, and Sojern is the leading AI-powered marketing platform built for hospitality.

This acquisition marks a major milestone in RateGain’s evolution as we continue to scale globally and deepen our AI-led offerings,.

“Sojern brings complementary strengths in digital marketing and traveler engagement that enhance our ability to provide an end-to-end platform for driving profitable growth. Together, we are positioned to accelerate value creation for our shareholders and customers alike,” the founder and chairman of RateGain, Mr Bhanu Chopra, stated.

“Joining RateGain provides Sojern the opportunity to expand into new markets and enriches our global product portfolio to unlock our next phase of growth.

“Our shared vision to apply data and AI across the traveler journey via a unified platform creates a powerful foundation for measurable, sustainable growth in a dynamic global travel market,” the chief executive of Sojern, Mr Mark Rabe, disclosed.

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Nigeria to Introduce Single Travel Emergency Passport

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By Adedapo Adesanya

The Nigeria Immigration Service (NIS) has announced plans to introduce a Single Travel Emergency Passport (STEP) to replace the existing Emergency Travel Certificate (ETC) for Nigerians abroad.

The Comptroller-General of Immigration, Mrs Kemi Nanna Nandap, said the new document forms part of the agency’s ongoing reforms to strengthen identity management and border governance in line with global best practices.

She made the announcement while speaking at the Joint Thematic Meeting of the Khartoum, Rabat, and Niamey Processes, co-hosted by Nigeria in collaboration with the Government of France.

The meeting brought together key migration stakeholders, including the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI), the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), ECOWAS, AU, EU, and representatives from African and European countries.

According to Mrs Nandap, the STEP initiative will serve as a secure and verifiable temporary travel document for Nigerians abroad whose passports have expired, been lost, or been stolen.

She explained that the passport will be issued at designated Nigerian embassies and consulates and will be valid for a single entry into Nigeria.

“The forthcoming Single Travel Emergency Passport (STEP) will enable Nigerians abroad to return home safely in a secure and verifiable manner,” the Immigration Chief stated, adding that the initiative underscores the Service’s commitment to efficient service delivery and robust identity protection.

Giving her keynote address titled Insights on Prevention and Protection as Strategic Pillars to Effective Law Enforcement and Prosecution Responses, Mrs Nandap also highlighted the service’s broader reform agenda, which focuses on combating migrant smuggling and human trafficking through enhanced border governance, improved migration management systems, capacity building, and strengthened international collaboration.

The Comptroller-General reaffirmed Nigeria’s commitment to regional and global migration dialogues, according to a statement.

The service said it will continue to align its policies and operations with international standards to ensure safe, orderly, and regular migration across borders.

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