Business – Page 101 – Rise Africa

Dangote Boosts Nigeria’s Petrol Supply to 960M Litres

16.01.2026

Fuel availability and stock levels improved in December 2025, with the supply of petrol rising to 74.2 million litres per day and national stock sufficiency expanding to over 29 days, according to a factsheet released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority on Thursday. This came as petrol supply from the Dangote Petroleum...

Nigeria’s Government Spending Rises Amid High Inflation

16.01.2026

The Nigerian government’s spending rose in nominal terms in 2024. Still, it delivered far less value in real terms, as inflationary pressures continued to weigh on public finances, renewing calls for policy action to boost growth while enforcing fiscal discipline. Data from the Central Bank of Nigeria’s 2024 Statistical Bulletin showed that total government expenditure...

Nigeria Removed From EU High-Risk Financial List by Commissi

16.01.2026

The Federal Government has welcomed the European Commission’s decision to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism. The decision is contained in a European Commission Delegated Regulation released this week, amending Delegated Regulation 2016/1675. A statement issued via X on Thursday by...

Dangote Refinery Starts 24-Hour Petrol Loading Operations

16.01.2026

The Dangote Petroleum Refinery has commenced night-time loading operations as it intensifies efforts to sustain a daily supply of more than 50 million litres of Premium Motor Spirit (petrol) across Nigeria, signalling a major shift to full 24-hour operations at Africa’s largest refinery. The move comes as the refinery continues to ramp up production, stabilise...

Petrol Price Hike Looms as Crude Oil Price Exceeds $66

16.01.2026

The pump prices of Premium Motor Spirit (petrol) and other refined petroleum products, including Automotive Gas Oil (diesel), and Household Kerosene, among others, may spike soon as crude oil, the major feedstock for refined fuel, crossed $66/barrel on Wednesday. Brent, the global benchmark for crude, traded above $66 on Wednesday, as other oil grades also...

Nigeria’s Power Sector Grapples with Unbilled Energy Losses

16.01.2026

The power sector lost about N187bn to unbilled energy between July and October 2025, as data from the Nigerian Electricity Regulatory Commission revealed that electricity distribution companies failed to issue this amount as bills to customers during the period, underscoring persistent inefficiencies that continue to weaken the industry’s liquidity. According to NERC’s Commercial Performance of...

Aradel Achieves Major Safety Milestone of 10M LTI-Free Hours

16.01.2026

Aradel Holdings Plc says it recorded 10 million man-hours without a lost-time injury across its operations as of 21 December 2025. In a statement, the company said the milestone was achieved across all its subsidiaries during a period of expanded operational activity, reflecting what it described as a deeply embedded health, safety, and environment culture...

ICAN Warns Nigeria’s Economic Stabilisation is Fragile

16.01.2026

Nigeria’s economy is showing early signs of stabilisation, but progress remains fragile, the Institute of Chartered Accountants of Nigeria said on Wednesday, emphasising that accountability will be critical to sustaining fiscal reforms and national development. The event, ICAN’s 2026 Economic Outlook, part of its 60th anniversary celebrations in Lagos, brought together policymakers, industry leaders, regulators,...

Nigeria Ends Signature Bonus Refunds in Oil Licensing Reform

16.01.2026

The Federal Government has warned prospective investors in the 2025 oil licensing round that any errors, miscalculations, or disappointments arising from the bidding process will be borne entirely by the companies involved, stressing that there will be no refunds of signature bonuses or exchanges of oil assets under any circumstances. The warning was issued by...

Nigeria Achieves 85% Capital Spending in 2024 Budget

16.01.2026

The Federal Government achieved an 85 per cent capital expenditure performance in the 2024 fiscal year following the extension of the budget implementation period, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said. Edun disclosed this on Thursday at the 2026 Macroeconomic Outlook event organised by the Nigerian Economic Summit...