Business
NCAA to launch drone regulation portal at DroneTecX conference in Lagos
The Nigerian Civil Aviation Authority (NCAA) has said it will officially launch a digital drone regulation portal during the 6th Africa International Drone Technology Conference and Exhibition (DroneTecX 2026) scheduled to hold in Lagos next week.
In a statement issued on Saturday, the NCAA said the Drone (RPAS/UAS) Portal would be unveiled during the conference billed for 12–16 May at the NIGAV Expo Centre, Murtala Muhammed International Airport, Lagos.
The agency described the portal as part of efforts to strengthen drone regulation and improve oversight of unmanned aircraft operations in Nigeria.
According to the NCAA, the platform is expected to streamline regulatory processes involving drones, also known as Unmanned Aircraft Systems (UAS) or Remotely Piloted Aircraft Systems (RPAS).
The authority said the portal would handle processes such as drone registration, operator certification, incident reporting, ownership transfers and compliance management.
It added that the system is intended to make regulatory engagement easier for individuals, small businesses and commercial drone operators.
“This strategic launch represents a major milestone in Nigeria’s efforts to streamline Drone/Unmanned Aircraft Systems (UAS)/Remotely Piloted Aircraft System (RPAS) regulation, promote safe drone operations, and accelerate the growth of the drone industry,” the NCAA said.
The agency also noted that the platform would consolidate application and approval processes into a single digital system, allowing operators to upload documentation, submit safety case files and track applications in real time.
According to the NCAA, the portal is designed to align with the Nigeria Civil Aviation Regulations governing drone operations.
Background
Drones are aircraft operated without a pilot onboard and are either remotely controlled or programmed to fly autonomously using onboard navigation systems and software.
Their use has expanded globally in recent years across sectors including agriculture, aerial photography, mapping, surveillance, infrastructure inspection, emergency response and logistics.
READ ALSO: NCAA DG speaks on flight delays, cancellations amid passenger complaints
In Nigeria, the growing use of drones has prompted increased regulatory attention from aviation authorities over concerns related to airspace safety, security and operational compliance. Under existing civil aviation regulations, operators are required to obtain approvals and certifications for certain categories of drone operations, particularly commercial activities and flights within controlled airspace.
The authority encouraged prospective users, operators and other stakeholders in the drone sector to familiarise themselves with the platform ahead of its formal rollout.
Business
Aradel’s annual profit surges 192% as ND Western, Renaissance Africa’s acquisitions lift earnings
Energy company Aradel Holdings saw its net profit for 2025 increase by 192.3 per cent, compared to what it reported a year earlier, according to its latest audited report, taking its profit after tax to the peak level ever.
The remarkable improvement rested on the ₦393.2 billion translation gain it earned from the business combination it executed last year after acquiring a majority stake in ND Western, an oil drilling firm in which it previously held a non-controlling interest.
Towards the end of 2025, Aradel procured a 40 per cent stake in ND Western in a transaction that took its shareholding in the entity to 81.7 per cent.
The deal involving ND Western, being one of the companies under Renaissance Energy Holdings, raised Aradel’s stake in the latter from 33.3 per cent to 53.3 per cent, making it its majority owner.
Revenue for the period under review grew by 20.4 per cent to ₦699.4 billion, driven by crude oil exports and the sale of refined products.
Operating profit, which was up by 151.7 per cent, derived strength from the ₦217.1 billion earned as a bargain purchase from acquiring the additional stake in ND Western at a cheaper amount than its fair market value.
Share of profit from associate company stood at ₦109.5 billion, compared to ₦31.6 billion a year ago.
However, the company incurred ₦106.3 billion in fair value loss on step acquisition as a result of legacy expenses in respect of the write-down of a carrying amount from the ND Western asset acquisition.
READ ALSO: Femi Otedola, Paul Enenche named among Nigeria’s 10 ‘Models of Exemplary Fatherhood’
Profit before taxation climbed by 163.6 per cent, while profit after tax jumped to ₦757.3 billion from ₦259.1 billion.
“Our focus in 2026 is on consolidating our expanded portfolio to enhance operational scale, improve efficiency across our assets, increase production and further diversify our revenue base anchored on our long-term ambition to grow the Group’s production to support sustainable, long-term shareholder value,” Adegbite Falade, the CEO, said.
“Reflecting the strength of our performance and confidence in our outlook, the board is pleased to propose a final dividend of ₦23.0 (US$0.016) per share, taking the total 2025 distribution to ₦33.0 (US$0.024),” he added.
The ₦33 total dividend per share is 10 per cent higher than that of 2024 and is equivalent to a potential payout of ₦143.4 billion.
BY NKECHI NAECHE-ESEZOBOR—The new management of African Alliance Insurance Plc has promised sound solvency management and absolute transparency as the company officially returns to full business operations following a major regulatory restructuring.
Speaking recently in Lagos, the newly appointed Managing Director and Chief Executive Officer, Mr. Ayobami Olakunle Ogunkeye, stressed that the pioneer indigenous life underwriting firm has pledged to uphold the highest standards of accountability and customer-centric service.
According to Ogunkeye, a seasoned turnaround expert, the company’s revival strategy is built directly upon these promises to ensure long-term viability and safeguard the interests of all policyholders.
The company’s renewed assurances follow a decisive regulatory intervention by the National Insurance Commission (NAICOM), which began in October 2024.
Prompted by severe liquidity pressures, operational disruptions, and a substantial backlog of unpaid claims, NAICOM had appointed an Interim Management Board to stabilize the 66-year-old institution.
During the intervention, the interim board successfully cleared over 75 percent of the company’s accumulated legacy liabilities.
Critical capital was unlocked through the competitive sale of a 49 percent stake in PAL Pensions, while trapped dividend funds were secured to clear up to 15 months of annuity arrears.
Additionally, the team transparently transferred the firm’s admitted annuity portfolio to an underwriting institution to secure uninterrupted payments for beneficiaries, upgraded internal ICT infrastructure, and completed vital forensic and actuarial reviews.
With these corrective milestones achieved, NAICOM Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, formally certified the company fit to resume full operations and officially handed control over to a newly constituted board and management team.
Although independent operations have resumed, African Alliance will remain under active regulatory oversight to monitor its ongoing recapitalization progress and solvency compliance closely.
The newly formed leadership structure is headed by Board Chairman Rear Admiral Anthony Odogba Isa. Joining him on the board are Andrew Ubochi as Executive Director, Technical, alongside non-executive directors Chief Boniface Chinedu Moore (SAN), High Chief Olabode Akeem Mustapha, Ataraire Gideon, and Harrison Ogalagu.
Addressing the firm’s diverse stakeholders, Ogunkeye stated that the lessons learned during the recent period of hardship have deeply reinforced the company’s resolve to develop appropriate corporate governance structure
He assured existing policyholders that their trust would be honoured without compromise, while inviting prospective clients to approach the revitalized insurer with full confidence in its financial positioning and operational capacity.
The post Reborn @ 66: African Alliance Insurance Promises Absolute Transparency and Solvency appeared first on Business Today NG.
-
Business4 days agoSenate Clears Customs of ₦62.2BN Under-remittance Allegation
-
News4 days ago
‘It’s in our constitution’ – NDC justifies anti-defection policy
-
News2 days ago
BREAKING: Ekiti 2026: ADC wins first polling unit
-
News3 days ago
APC council officials accuse Osun govt of fueling fresh political crises
