Travel/Tourism
Subscription for Transcorp Hotels Rights Issue Opens

By Dipo Olowookere
Shareholders intending to take their rights in the N10 billion rights issue of Transcorp Hotels Plc can begin to do so as the subscription has opened.
Application for the exercise officially started on Monday, October 5, 2020, and will run till Wednesday, November 11, 2020.
During the rights issue, the hospitality giant hopes to sell a total of 2,659,574,468 ordinary shares of 50 kobo each at a nit price of N3.76 to shareholders.
This offer is for shareholders who held stocks of the company as at the close of business of Monday, July 13, 2020, though other interested investors can subscribe by getting in touch with their stockbrokers.
The firm plans to raise about N10 billion from the rights issue, which would be ploughed back into the company for its operations.
During the sales, Transcorp Hotels will be offering to subscribers a total of seven new ordinary shares of the company for every 20 ordinary shares held by shareholders.
Business Post reports that these new shares to be sold in the rights issue would be issued from the authorised share capital of the company, which is currently at N7.5 billion comprising 15.0 billion ordinary shares of N0.50 each, and the resultant issued and fully paid-up share capital will be N5,129.989.184 consisting of 10,259,978,368 ordinary shares of N0.50 each.
Transcorp Hotels Plc owns the iconic Transcorp Hilton Abuja and Transcorp Hotels Calabar.
The company, like every other in the sector, has been badly hit by the COVID-19 pandemic and recently, the management announced that it was cutting its workforce by 40 per cent, while its senior executive management team will get a pay cut.
“Our workforce headcount will be reduced by at least 40 per cent, and our reward system will be optimised,” the MD/CEO of Transcorp Hotels, Mrs Dupe Olusola, said recently.
According to her, “The slow pick up of international travel, restriction on large gatherings, the switch to virtual meetings and fear of the virus, has drastically reduced demand for our hotels and occupancy levels to its lowest of less than 5 per cent.”
Economy
NIPOST, KLM Royal Dutch Airlines Seal Logistics Deal

By Adedapo Adesanya
The Nigerian Postal Service (NIPOST) and the KLM Royal Dutch Airlines have signed a direct international mail partnership to boost delivery and ease bottlenecks around Nigerian logistics.
The Postmaster General of NIPOST, Mrs Tola Odeyemi, confirmed this agreement between both parties, describing its as a milestone in many years.
According to Mrs Odeyemi, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers, resulting in delays, higher costs, and uncertainty around the delivery of packages.
“With this new partnership, KLM will now handle our outbound international mail directly, with no middlemen involved,” she wrote in the announcement on X, formerly, known as Twitter, noting that the deal will bring faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network.
KLM Royal Dutch Airlines is the national carrier of the Netherlands and offers services – passenger and cargoes – to 164 destinations worldwide and boasts about 116 aircrafts as of 2025.
“This breakthrough is possible because we have begun clearing longstanding debts owed to international carriers. We are actively working to rebuild global trust, and this partnership is only the first of many doors that will reopen,” she added.
She also noted that NIPOST is currently in strategic discussions with Ethiopian Airlines to serve African and Eastern routes, further strengthening the country’s regional and continental logistics framework.
“Our goal is clear and unwavering: to connect Nigeria regionally and globally, efficiently, securely, and affordably,” she noted.
The NIPOST chief also noted that the development serves as a major win for Nigerian businesses especially Small and Medium Enterprises (SMEs).
According to her, some of the benefits cover those who export goods, or sell products online, as it introduces quicker, more affordable international shipping, greater peace of mind with improved reliability, and new potential to reach and grow in global markets.
“I remain grateful to the incredible teams working diligently behind the scenes, and to every Nigerian who continues to believe in our mission. We are not just delivering mail, we are delivering solutions and moving Nigeria forward,” she added.
Travel/Tourism
US Safety Board Blames Pilot Error for Wigwe Helicopter Crash

By Aduragbemi Omiyale
The pilot of the helicopter crash that led to the death of the chief executive of Access Holdings Plc, Mr Herbert Wigwe, and two other members of his nuclear family and a friend on February 9, 2024, in the United States has been blamed for the incident.
In its report, the United States National Transportation Safety Board (NTSB) also blamed the company for “inadequate oversight of its safety management processes.”
Mr Wigwe died in the air mishap alongside his wife, Mrs Doreen, his son, Mr Chizi, and a friend, Mr Abimbola Ogunbanjo, who chaired the Nigerian Exchange (NGX) Group Plc.
They died after the small aircraft with registration number N130CZ carrying six persons crashed near the Nevada border in California. They were going for a match in the US when the unfortunate incident happened.
In the report released on Wednesday, the safety board noted that the crash occurred due to the pilot’s inability to navigate effectively in some conditions.
“The probable cause of this accident [was] the pilot’s decision to continue the visual flight rules flight into instrument meteorological conditions, which resulted in the pilot’s spatial disorientation and loss of control,” a part of the report stated.
It was observed that during the flight, the pilot had communicated with the company’s Director of Maintenance (DOM) about an issue with the radar altimeter, which remained non-functional despite attempts to fix it.
The NTSB further revealed that after arriving at the airport to pick up the passengers, the pilot and a company flight follower engaged in a phone conversation but failed to discuss the status of the radar altimeter or the current weather conditions, both of which could have impacted the flight’s safety.
Travel/Tourism
Emirates Partners FG to Promote Inbound Tourism to Nigeria

By Modupe Gbadeyanka
The Nigerian tourism sector is about to witness a sharp turnaround with a deal sealed between Emirates Airline and the federal government through the Ministry of Art Culture Tourism and the Creative Economy.
According to a Memorandum of Understanding (MoU) at the 2025 Arabian Travel Market, the airline operator will use its influence in the global aviation market to attract international visitors to tourist sites in Nigeria.
It was learned that Emirates would help to promote inbound tourism to Nigeria from key markets on its network, encouraging travellers to experience the country’s rich cultural heritage and diverse natural beauty, from sunlit coastlines to vibrant wetlands.
Also, both parties will develop programmes for trade partners, hoteliers and tour operators, to showcase the Heartbeat of Africa as well as exploring incentives, familiarisation trips and other marketing initiatives.
“Since resuming operations to Lagos in October 2024, we have focused on deepening our strategic partnerships with key stakeholders in Nigeria’s aviation, tourism and trade sectors.
“This partnership with the Nigerian Tourism Ministry solidifies our commitment to driving international travellers to experience the country’s fascinating history, its urban cities, the untapped, stunning natural world and, of course, the warm hospitality that characterizes Nigerian culture,” the Chief Commercial Officer of Emirates Airline, Adnan Kazim, said.
In her remarks, the Minister of of Art, Culture, Tourism and the Creative Economy, Ms Hannatu Musa Musawa, said, “This partnership with Emirates marks a pivotal moment for Nigeria’s tourism sector. It serves as a critical springboard for driving inbound tourism as we work towards delivering on our Destination 2030 Soft Power Initiative, endorsed by Mr President to position Nigeria as a global leader in culture, heritage, and creativity.
“Strengthening strategic alliances with international stakeholders like Emirates not only open new gateways for visitors but also empower local communities, stimulate economic growth, and showcase Nigeria’s extraordinary cultural tapestry to the world.”
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