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KEGOZ MARKET WATCH KEGOZ BULLETIN · 29 OCT 2026 ·UPDATE
  • PMS · Depot average₦1,346.50/L— ₦0
  • DIESEL (AGO) · Basket median (older quotes included)₦1,812.50/L▲ ₦22.50
  • COOKING GAS (LPG) · Depot average₦1,200/kg— ₦0
  • BRENT CRUDE · 28 Oct settlement$115.32/bbl▲ $1.44
  • USD/NGN · NFEM closing rate · 27 Oct₦1,357/$1
  • USD/NGN · Parallel · 29 Oct bulletin₦1,382–1,390/$1
  • DANGOTE PMS · Depot · 29 Oct₦1,301/L
  • DANGOTE AGO · Depot · 28 Oct₦1,840/L
  • DANGOTE LPG · Depot · 29 Oct bulletin₦1,025/kg
  • NNPC PMS · Abuja pump · 16 Oct₦1,405/L
Source: KEGOZ Daily Trading Intelligence Bulletin, Issue 058. Indicative prices; quote dates vary. Depot-average changes vs Issue 057. AGO median includes older quotes and may understate the market; fresh quotes are ₦1,820–1,860/L. Dangote PMS shown is a depot quote, not its reported ₦1,325/L gantry price. Verify with suppliers before trading. Not a live feed.

FG Approves King Amachree Airport in Degema, Sets 11 Conditions

The Federal Government has approved the proposed King Amachree Airport at Elem Ifoko in Degema Local Government Area of Rivers State, subject to 11 conditions, including measures to address flooding, tidal influences, and a canal crossing the site.

The approval was conveyed in a letter dated October 26, 2026, signed by Engr. P. T. Vembe, Director of the Aerodrome Development Department of the Federal Ministry of Aviation and Aerospace Development, on behalf of the Minister.

The letter was addressed to Prince Tonye T.J.T. Princewill, Executive Director of Royal Fouche Services Limited, the company that applied for the approval.

The ministry said the decision followed Princewill’s application of June 25, 2026, and a site inspection conducted by a ministerial technical team between September 2 and 4, 2026.

Among the conditions is the submission of a comprehensive airport master plan detailing the proposed development, construction phases, facilities, and supporting infrastructure.

The developer must also conduct an engineering assessment of the canal running through the proposed site to determine whether it should be diverted or realigned, or crossed using a suitable bridge or other structure.

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Other requirements include detailed hydrological, hydraulic, and drainage studies to assess flooding risks, tidal influences, seasonal water movements, and stormwater management.

The ministry also mandated geotechnical investigations, reliable all-weather road access, an environmental impact assessment and strict compliance with Nigerian Civil Aviation Authority (NCAA) regulations and applicable environmental laws.

Additional conditions include a topographical and obstacle survey based on the World Geodetic System 1984 (WGS-84), wind and meteorological assessments in consultation with the Nigerian Meteorological Agency (NiMet), and payment of applicable statutory fees.

The ministry further required its continuous involvement throughout the project to ensure compliance with International Civil Aviation Organisation (ICAO) standards, Nigerian Civil Aviation Regulations and other statutory requirements.

A copy of the approval letter was forwarded to the NCAA, which the developer was directed to contact for implementation.

Reacting to the approval, Princewill expressed confidence in the progress of the project, crediting the support of President Bola Tinubu, the aviation minister, the NCAA, traditional rulers and the Royal Fouchee team.

He assured the Kalabari people that the project would be pursued diligently, while stressing that speed would not come at the expense of due process or stakeholder engagement.

“We will carry every stakeholder along and make sure all reasonable voices are heard,” he said, adding that the airport was only part of a broader development plan.

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