May 2026 – Page 181 – Rise Africa

FEC approves strategic PPP infrastructure projects in Nigeri

11.05.2026

The Federal Executive Council has approved three strategic Public-Private Partnership projects aimed at strengthening Nigeria’s infrastructure base and unlocking economic growth across critical sectors. The approved projects include the development of a Smart National Transport Data Bank under the Nigerian Institute of Transport Technology, as well as two Independent Power Projects at the Onne Port...

FG Warns Telcos Over Poor Telecom Service Quality in Nigeria

11.05.2026

The Federal Government has warned telecommunications operators that they could face regulatory sanctions if they fail to improve service quality across the country, saying Nigerians must begin to receive value for money spent on telecom services. The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, said this in a statement issued on Sunday,...

Nigeria’s vehicle imports surge by 67% in Q1 2026

11.05.2026

The Nigerian Ports Authority has stated that the total number of vehicles handled in Nigeria during the first quarter of 2026 rose to 58,870 units from 35,262 units recorded in the corresponding period of 2025, representing a 67 per cent increase. The NPA disclosed this in its Q1 2026 Operational Performance Review obtained by The...

NGX RegCo secures N500m in shareholder restitution

11.05.2026

NGX Regulation Limited (NGX RegCo) has successfully facilitated recoveries exceeding N500m for shareholders following the resolution of various complaints involving market operators. The independent regulatory arm of the Nigerian Exchange Group recently achieved a major breakthrough by securing the restitution of N326.85m to a single investor over an unauthorised share transaction reported in 2025. This...

Low purchasing power hurts despite food price drops

11.05.2026

Some residents of Lagos State have lamented the low purchasing power of the masses despite the drop in prices of some food items in the state. The residents spoke with the News Agency of Nigeria in separate interviews on Sunday in Lagos. They noted that despite the reduction in the prices of some food items,...

CBN Urges States to Curb Short-Term Borrowing for Stability

11.05.2026

The Central Bank of Nigeria has urged state governments to reduce their reliance on overdrafts and short-term borrowing, warning that reckless fiscal behaviour at the sub-national level could undermine the country’s transition to an inflation-targeting monetary policy framework. This was contained in a press statement issued by the CBN on Sunday following an engagement with...

FG integrates CNG training into NYSC scheme for youth jobs

11.05.2026

The Federal Government has taken a step toward strengthening youth employment and advancing Nigeria’s clean energy transition with the signing of a Memorandum of Understanding to integrate Compressed Natural Gas retrofitting training into the National Youth Service Corps Skill Acquisition and Entrepreneurship Development programme. The MoU signing ceremony, held at the Federal Ministry of Youth...

LG & AXA Mansard Widen Consumer Health Protection Scheme

11.05.2026

LG Electronics has introduced free comprehensive health insurance coverage for customers who purchase selected air conditioner models, expanding its consumer health protection initiative in Nigeria. The company said in a statement on Sunday that the scheme, developed in partnership with AXA Mansard Health, builds on an earlier malaria-focused insurance programme and has now been widened...

Nigerite cooperative posts strong savings & surplus growth

11.05.2026

The Nigerite Staff (Ikeja) Multipurpose Cooperative Society has reported significant growth in members’ savings and financial surplus, attributing the increase to renewed member confidence, improved welfare initiatives, and a broader push toward transparency and investment-driven expansion. At its 35th Annual General Meeting held recently at the Nigerite premises in Ikeja, the cooperative said members’ savings...