May 2026 – Page 144 – Rise Africa

Nigeria and Germany sign €365m investment partnership deal

15.05.2026

Nigeria and Germany have signed a €365m development and investment partnership agreement to support economic growth, energy expansion, agriculture, and private-sector development in Nigeria. The agreement was signed on Thursday at the German Embassy in Abuja by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, the Minister of State for Budget and Economic...

FCMBAM Mutual Funds Rebranded After SEC Approval

15.05.2026

FCMB Asset Management Limited has secured approval from the Securities and Exchange Commission for the execution of supplemental Trust Deeds covering its mutual funds, including the rebranding of its legacy funds and reduction in minimum subscription units. The company, which is the asset management subsidiary of FCMB Group Plc, disclosed this in a statement on...

SMEDAN partners to boost e-commerce for SMEs in Nigeria

15.05.2026

The Small and Medium Enterprises Development Agency of Nigeria has announced plans to partner with Payxy, a financial technology firm, to boost market access for small businesses through its e-commerce platform, ‘Oloja by Payxy’. The Deputy Director of SMEDAN, Bunmi Kole-Dawodu, disclosed this during the formal launch of the platform on Tuesday, 12 May 2026,...

Business

Union Bank Wins Award for SME Banking Initiatives

15.05.2026

Union Bank of Nigeria has bagged the Best SME Growth Banking Initiatives Award for 2025, reaffirming its reputation as a premier supporter of local commerce. The accolade was presented by the Association of Small Business Owners of Nigeria at the Nigeria National SME Business Awards recently held in Lagos. The award recognises the Bank’s strategic...

PenCom approves PFA investment in Dangote Refinery IPO

15.05.2026

The National Pension Commission has granted Pension Fund Administrators special regulatory approval to invest pension assets in the planned Initial Public Offering of Dangote Petroleum Refinery & Petrochemicals FZE, waiving some of the usual investment eligibility requirements under existing pension regulations. The approval was contained in a circular published on the commission’s website on Thursday...

Stakeholders Back FG on Nigeria Tourism Sector Restructuring

15.05.2026

The Federal Government has reaffirmed its commitment to building a globally competitive hospitality, travel, and tourism ecosystem as key stakeholders across government, the private sector, and industry institutions rallied strong support for the National Institute for Hospitality and Tourism. A statement from NIHOTOUR on Thursday stated that the support was given at the Sectoral Personnel,...

2027 Election Spending May Trigger Inflation, CBN Warns

15.05.2026

The Governor of the Central Bank of Nigeria and Members of the Monetary Policy Committee have warned that rising political and election-related spending ahead of the 2027 general elections could undermine the country’s disinflation gains and trigger fresh inflationary pressures. The warnings were contained in the personal statements of MPC members released by the apex...

Nigeria Broadband Penetration Hits 54% After $1bn Telco Push

15.05.2026

Nigeria’s broadband penetration has risen to 54.3 per cent following increased network expansion and investments by telecommunications operators aimed at deepening the country’s digital economy, the Nigerian Communications Commission said on Thursday. The Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida, disclosed this during the opening of the 2026 Workshop for...

South-West commission secures rail operations licence

15.05.2026

The South West Development Commission on Thursday secured a provisional rail operating and track access licence from the Nigerian Railway Corporation, paving the way for SWDC-led passenger and freight rail services across existing rail corridors in the South-West. The development marks a major step towards improving regional connectivity and driving economic transformation across the region....

Nigerian Youth Urged to Embrace Innovation for Development

15.05.2026

Mr Obaseun Awoyinfa, a cybersecurity expert and Technical Director at Beyond Binary Consulting, Canada, has urged Nigerian youth to use the power of engineering and innovation to proffer solutions to the developmental challenges bedevilling the country. Awoyinfa, an alumnus of Ogun State Institute of Technology, Igbesa, stated this while delivering a keynote address during a...