Business
International Airlines Set to Raise Fares As Aviation Fuel Price Rises by 70%
- /home/rhoncare/pointblank.ng/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://pointblank.ng/wp-content/uploads/2021/11/Aviation-fuel-1000x600.jpg&description=International Airlines Set to Raise Fares As Aviation Fuel Price Rises by 70%', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/rhoncare/pointblank.ng/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 69
https://pointblank.ng/wp-content/uploads/2021/11/Aviation-fuel-1000x600.jpg&description=International Airlines Set to Raise Fares As Aviation Fuel Price Rises by 70%', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The International Air Transport Association has said the price of jet fuel has continued to increase in recent weeks, with its price increasing by 70 per cent since the start of 2021.
According to IATA, the Switzerland-based trade organisation representing over 290 international airlines, the increase in Jet A1 price is putting pressure on airlines’ operating costs and threatening the industry’s profitability.
IATA said jet fuel price continued to trend upwards in recent weeks as economic activity restarted around the world and supply remained tight.
The association disclosed this in its ‘Airlines Financial Monitor’ which was released on Tuesday.
The association said, “Monthly jet fuel price and Brent crude oil price continued to climb higher in recent weeks, and are currently well above pre-crisis 2019 levels.
“At the beginning of November, the price per barrel of jet fuel was at US$96.1, +70% year-to-date. The price increase has been driven by swiftly recovering demand as markets reopen around the world and economic activity restarts. Meanwhile, supply has remained tight since an increase in OPEC+ production has been slow.
“Many airlines have been voicing concerns about the impact of rising fuel costs — airlines’ largest operating cost item — on their financial recovery. Q4 tends to be a seasonally weaker quarter for airlines passenger revenues so the fuel price increase represents an unwelcomed challenge.”
IATA added that airline stocks dropped across all regions in October because of rising jet fuel prices on airlines’ operating costs.
According to IATA, the global airline share price index has been below pre-pandemic levels throughout most of 2021, with uncertainty about pandemic outbreaks and their impact on the air travel recovery.
The IATA said, “The initial Q3 2021 results show that financial losses of airlines at the aggregated level diminished compared with Q2 2021, with some carriers reporting their first profitable quarter since the crisis started. In the sample of 27 airlines, the industry-wide EBIT margin improved to -2 per cent of revenues in Q3.”
According to the IATA, passenger revenues have declined by 34 per cent in Q3 2021 compared with the pre-crisis Q3 2019, while cargo revenues have risen by 65 per cent over the same period amidst increased cargo demand.
It added that total airline revenues were down by 30 per cent and the rising fuel price was increasing pressure on fuel costs.
The Punch
Business
Ecobank Announces Sales of Dangote Shares Across Africa for Retail and Institutional Investors
Ecobank is enabling the sale of Dangote Petroleum Refinery shares across Africa, providing retail and institutional investors with convenient access to participate in the ongoing share offer through its extensive digital and branch banking channels. The offer opened on 14 September 2026 and is scheduled to close on 13 October 2026.
Through its extensive pan-African network and digital banking platforms across 33 African countries and international offices in London, Paris, Beijing and Dubai, Ecobank is providing investors with convenient access to the Dangote Petroleum Refinery share offer, further strengthening its role in connecting African investors with major investment opportunities across the continent.
In Nigeria, customers and non-customers can subscribe through the Ecobank Mobile App, Internet Banking, Ecobank website and any Ecobank branch nationwide.
The offer provides investors with an opportunity to acquire a stake in the Dangote Petroleum Refinery, one of Africa’s significant industrial projects. The shares are available at ₦525 per share, with a minimum subscription of 10 shares.
Speaking on the offer, Austen Osokpor, Head, Marketing and Corporate Communications, Ecobank Nigeria, reiterated the Bank’s commitment to connecting customers and the wider public with opportunities that support wealth creation and broader participation in the capital market.
He noted that Ecobank’s digital platforms and extensive branch network have been positioned to provide a seamless, convenient and accessible subscription experience for interested investors.
Prospective investors are encouraged to carefully read the Prospectus and seek professional advice where necessary before making any investment decision.
Interested members of the public can visit any Ecobank branch nationwide or subscribe through the Bank’s digital channels.
Business
AD Consulting, Ecobank Partner to Host Art and Architecture Icons in “The Convergence”
Nigeria’s leading voices in art and architecture will converge in Lagos as AD Consulting partners Ecobank Nigeria to present The Convergence: The Iconic Architect & the Icons of Art, a landmark cultural experience celebrating Nigeria’s creative excellence, heritage and legacy.
Scheduled to run from October 1 to 7, 2026, at the Ecobank Pan African Centre (EPAC), Ozumba Mbadiwe Avenue, Victoria Island, Lagos, the event will bring together internationally acclaimed architect Olajumoke Adenowo, Founder of AD Consulting, and some of Nigeria’s most distinguished visual artists for an immersive exploration of the relationship between architecture, art and African heritage.
Among the artists whose works will feature are Abiodun Olaku, Bunmi Babatunde, Kehinde Adewuyi, Tayo Quaye, Mufu Onifade, Alex Nwokolo, Fidelis Odogwu, Kassi Nathalie, Dotun Popoola, Steve Ekpenisi, Collins Abinoro and Joshua Nmesirionye among others.
Speaking on the concept behind The Convergence, Olajumoke Adenowo, Founder, AD Consulting, said: “Architecture and art are two of the most enduring expressions of who we are as a people. They tell our stories, preserve our heritage and give form to the values we want to pass on to future generations. The Convergence brings these two powerful voices together to celebrate Nigeria’s extraordinary creative heritage while creating a space for new conversations about identity, beauty, ownership and legacy.”
She added: “This is not simply an exhibition. It is an intentional meeting of architecture, art and people who understand that some of the most valuable things we can leave behind are not merely possessions, but ideas, culture and a sense of who we are. Through NeoHeritage, The Convergence creates a contemporary expression of our heritage while looking confidently towards the future.”
Also speaking, Austen Osokpor, Head, Marketing & Corporate Communications, Ecobank Nigeria, said the partnership represents an opportunity to support African creative excellence while creating a platform where culture, creativity, private wealth and enterprise intersect.
According to Osokpor, “Africa’s wealth is not defined by financial capital alone. Our culture, creativity, intellectual capital and heritage are equally important assets that must be preserved, celebrated and passed on to future generations. The Convergence gives us an opportunity to support this broader definition of African wealth by bringing together exceptional artists, architects, collectors and cultural patrons in one powerful experience.”
He added: “For Ecobank, this is more than an event. It is about creating meaningful platforms that connect people, ideas and opportunities, while reinforcing our commitment to African excellence. We are delighted to partner with AD Consulting and Olajumoke Adenowo on an initiative that places Nigerian creativity firmly within the wider African and global cultural conversation.”
Unlike a conventional exhibition or art fair, The Convergence has been conceived as a platform for dialogue, exploring how art and architecture shape identity, preserve cultural memory and create enduring legacies.
At its heart is Adenowo’s Neo Heritage philosophy, which connects Africa’s rich cultural inheritance with contemporary creative expression.
The experience is built around three design pillars: Light, Zeitgeist and The 4th Dimension.
The Convergence will open on October 1 with an exclusive Collectors & Patrons evening curated for invited collectors, patrons, high-net-worth individuals and distinguished guests.
The opening will provide an intimate opportunity to experience the exhibition, engage with participating artists and explore the works within a setting centred on art, architecture, ownership, cultural stewardship and legacy.
The programme will include curated viewing opportunities, conversations with artists and creative leaders, and experiences designed to foster meaningful connections among collectors, patrons, architects and cultural leaders.
The wider exhibition will continue from October 2 to 7, giving a broader audience the opportunity to experience the works and engage with the ideas underpinning The Convergence.
The programme will also feature a Patron’s Preview, Founders’ Cocktail featuring an Architecture Salon by AD Consulting, and a Collectors’ Circle, offering opportunities for private viewings and deeper engagement with the artists and their work.
Business
Zenith Bank Opens Digital, Branch Channels for Dangote Refinery Share Subscription
Nigerians at home and in the Diaspora seeking to participate in the landmark Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals can subscribe conveniently through Zenith Bank, a receiving bank for the historic transaction and a designated electronic application channel for the offer. Subscription is open through the Zenith Bank website, the Zenith mobile app, internet banking, USSD, corporate internet banking and any Zenith Bank branch nationwide.
Across all of these channels, anchored by Zenith Bank’s network of 456 branches and 84 cash centres, investors enjoy a secure, fast and reliable route into the offer from anywhere in the world, at any hour. Whether the application begins on a phone in London, a laptop in Houston or across the counter of a Zenith banking hall in Lokoja, the path to ownership opens with a few taps and carries the investor smoothly through to completion.
Every subscription is linked to the investor’s Bank Verification Number, a seal of identity and security that accompanies each application from submission to allotment.
It is service the Zenith way: first-time and seasoned investors alike enjoy a straightforward and fully protected process, and the quiet confidence that their stake in history is processed through Zenith Bank.
Applications open on Monday, 14 September 2026 and run for 30 days, closing on Tuesday, 13 October 2026. According to the prospectus, the shares are offered at ₦525 each, with a minimum subscription of 10 shares, or ₦5,250. The offer seeks to raise ₦2.15 trillion, the largest equity offering ever undertaken on the African continent, and the prospectus further provides that retail investors who subscribe and hold their shares may qualify for bonus shares under the Retail Investor Incentive Programme, subject to regulatory approvals.
Zenith Bank stands ready to make participation effortless for investors who choose to take part. Nigeria’s largest bank by Tier-1 capital and the country’s most profitable bank, Zenith has built its reputation on combining scale with innovation, and that strength is now at the service of every investor in this offer. This is proven ground for the bank: Zenith Bank’s own most recent public offering was executed mainly through digital channels, a demonstration of digital readiness built on the bank’s robust digital infrastructure. That infrastructure has since been strengthened further through a comprehensive technological overhaul, positioning Zenith to serve its retail customers with the same excellence long enjoyed by its corporate clients, precisely the capability an offer of this scale demands.
Within the wider transaction, Quantum Zenith Capital & Investments Limited serves among the joint issuing houses, while Zenith Bank itself provides the secure and dependable channels through which applications are received and processed. Having successfully taken its own landmark offer to the market through digital channels, Zenith brings that same tested infrastructure and experience to the largest equity offering in African history. It is the same combination of financial strength, digital excellence and customer devotion that has earned Zenith Bank recognition year after year as one of Africa’s foremost financial institutions, trusted by millions of customers and by the corporates and governments behind the continent’s biggest transactions.
For over three decades, Zenith Bank has been the trusted gateway to Nigeria’s defining financial moments, and its channels are open for this one. Investors who wish to participate can fund their Zenith Bank account and subscribe through any of the bank’s platforms before the offer closes on 13 October 2026.
Please note that the details of the offer are provided in the prospectus and guided by extant regulations. Zenith Bank serves as a Receiving Bank and electronic application channel for this offer. Investors are advised to carefully read the Prospectus and, where appropriate, seek independent professional advice before making any investment decision.






