May 2026 – Page 163 – Rise Africa

Nigeria Shifts from Borrowing to Tax Reforms for Development

13.05.2026

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Tuesday said Nigeria could no longer rely mainly on borrowing to fund development, warning that the country must build a sustainable fiscal system capable of supporting critical sectors of the economy. Oyedele stated this while speaking at the 28th Annual Tax Conference...

UBA pushes Africa growth agenda at Nairobi summit

13.05.2026

United Bank for Africa Plc has reaffirmed its commitment to advancing Africa’s economic transformation through entrepreneurship, innovation, trade facilitation, and strategic global partnerships at the Africa Forward Summit 2026 held in Nairobi, Kenya. The Summit, themed “Africa–France Partnerships for Innovation and Growth,” brought together Heads of State, policymakers, investors, entrepreneurs, and business leaders from Africa...

FG, Bi-Courtney truce voids N132bn judgement debt

13.05.2026

For almost two decades, a parcel of land within the bustling Murtala Muhammed Airport has reflected ambitions derailed by dispute. Unfinished concrete structures remained locked in time, cranes lay dormant, and a once-promising airport hotel and conference complex turned into a lasting emblem of Nigeria’s prolonged infrastructure conflicts, OLASUNKANMI AKINLOTAN reports After a protracted legal...

FMDQ Exchange Lists NMRC’s N11.50bn Corporate Bond

13.05.2026

The FMDQ Securities Exchange Limited approved the listing of Nigeria Mortgage Refinance Company Plc’s N11.50bn 10-year 17.25 per cent Series 1 Fixed Rate Bond under its N440.00bn medium-term note programme. This is coming as the Nigerian debt capital market continues to experience significant growth, driving economic expansion and broadening access to capital through enhanced liquidity,...

Nigeria’s Oil Production Falls Short of OPEC Quota Again

13.05.2026

Again, Nigeria has missed its crude oil production quota set by the Organisation of the Petroleum Exporting Countries after averaging 1.49 million barrels per day in April, below the 1.5 mbpd benchmark. Figures from the Nigerian Upstream Petroleum Regulatory Commission showed that the country produced an average of 1,488,540 barrels of crude daily in April,...

When Lagos APC Endorsed Tinubu, Hamzat

13.05.2026

ANAYO EZUGWU writes on growing support and endorsement of President Bola Tinubu’s second term bid by various interest groups in Lagos and acceptance of the deputy governor of the state, Obafemi Hamzat, as the consensus governorship candidate of the All Progressives Congress (APC) Leaders and stakeholders of the Lagos State chapter of the All Progressives...

NCAA digitises licensing for pilots & aviation personnel

13.05.2026

The Nigerian Civil Aviation Authority has announced a shift from manual and paper-based licensing processes to a fully digital platform for pilots, engineers, medical personnel and other aviation professionals. The new digital regime, expected to take effect from 2 July 2026, is aimed at eliminating the long delays and bureaucratic bottlenecks that have for years...

Lufthansa invests $7.7bn on new long-haul aircraft

13.05.2026

Lufthansa Group has ordered 20 additional long-haul aircraft from Airbus and Boeing as part of its fleet modernisation programme. The airline group disclosed that the order comprised 10 Airbus A350-900 aircraft and 10 Boeing 787-9 Dreamliners valued at about $7.7bn at list prices. According to the company, deliveries are expected between 2032 and 2034, with...

Nigerian Aviation Dispute: Experts Split on Airline-Handler

13.05.2026

Aviation stakeholders have voiced differing opinions on the prolonged dispute between domestic airlines and ground handling firms over the more than N9bn owed to handlers by carriers, cautioning that unresolved financial disagreements could further threaten stability in the country’s aviation sector The dispute, which recently prompted the Aviation Ground Handlers Association of Nigeria to threaten...

Nigerian Equities to Beat Inflation in 2026: CIS Outlook

13.05.2026

The outgoing 13th President and Council Chairman of the Chartered Institute of Stockbrokers, Oluropo Dada, an experienced investment expert, discusses key trends in Nigeria’s capital market and economy in this interview with JIDE AJIA What is your assessment of the Nigerian capital market’s outlook for Q2 2026? The outlook for Q2 2026 is cautiously optimistic....