Business – Page 11 – Rise Africa

Dangote launches N1tn education fund for 1.3m students

12.12.2025

Nigerian industrialist Aliko Dangote, on Thursday, announced a N100bn annual education support initiative, describing it as a long-term investment aimed at reducing financial barriers that drive millions of young Nigerians out of school. According to a statement, the programme is expected to cost more than N1tn over the next decade. Speaking at the launch in...

Nigeria’s power grid weakens as plant availability drops

12.12.2025

Nigeria’s power grid slipped further in November as new data from the Nigerian Electricity Regulatory Commission revealed a fresh decline in available generation capacity despite improved output from leading hydro and gas plants. The November 2025 Operational Performance Factsheet, released on Thursday, showed that plant availability dropped to 41 per cent, down from 42 per...

Nigerian Firms Lack Deep Offshore Drilling Capacity: Ministe

12.12.2025

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said that no Nigerian company currently has the capacity to undertake drilling in deep offshore, stressing the need to strengthen local capacity without misapplying local content laws. Speaking at the just-concluded Practical Nigerian Content Forum organised by the Nigerian Content Development and Monitoring Board...

Tinubu sends 2026–2028 fiscal framework to Reps

12.12.2025

President Bola Tinubu on Wednesday transmitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper to the House of Representatives for consideration and approval. The President’s letter, read during plenary by Deputy Speaker Benjamin Kalu, who presided over the session, urged lawmakers to give the documents prompt attention. According to the letter, “It is...

FG to Capture N4tn Power Sector Bond in MTEF

12.12.2025

The Federal Government on Thursday announced that the newly launched power sector liquidity bond, designed to settle decade-long N4tn debts owed to electricity generation companies will be fully captured in the country’s Medium-Term Expenditure Framework, a move officials say strengthens its credibility and guarantees repayment. This will also increase the nation’s public debt by N4tn....

Sahara Group Unveils Community Impact Project for Locals

12.12.2025

Sahara Group, an international energy and infrastructure conglomerate, unveiled its community impact project, tagged ‘SCIP’, on Wednesday. During the unveiling at the Sahara Group head office in Lagos, the Director of the Sahara Group Foundation, Chidilim Menakaya, said the Sahara Community Impact Project is designed to establish business hubs within local communities by leveraging their...

Ekiti Airport Opens for Commercial Flights, Boosting State

12.12.2025

Ekiti State Governor, Biodun Oyebanji, on Wednesday disclosed that the state government had spent N49.7bn on the Ekiti Agro-Allied International Cargo Airport. Oyebanji made the announcement during the inauguration of commercial flight operations at the airport, along Ado–Ijan Road. The inaugural commercial flight, operated by United Nigeria Airlines, conveyed passengers, including the first civilian governor,...

Tinubu forms panel to settle Nigeria’s contractor debts

12.12.2025

President Bola Tinubu on Wednesday expressed “grave displeasure” over the backlog of unpaid federal contractors and set up a high-level committee to resolve the bottlenecks and fund repayments. Briefing State House correspondents after the Federal Executive Council meeting in Abuja, Special Adviser on Information and Strategy, Bayo Onanuga, said the President was “upset” after learning...

NNPC Resumes Petrol Importation With 1.56bn Litres in Nov

11.12.2025

The Nigerian National Petroleum Company Limited has resumed large-scale importation of petrol, barely a year after declaring it had stopped bringing the product into the country, The PUNCH reports. Latest figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority show that NNPC imported the bulk of Nigeria’s petrol needs in November, as the importers...

Lagos to Modernise Maritime Logistics & Safety Standards

11.12.2025

The Lagos State Government said it has concluded plans on the introduction of a series of far-reaching reforms aimed at modernising maritime logistics, enhancing safety standards, and strengthening the welfare of truck operators across the state. The measures were unveiled on Wednesday in Lagos during a stakeholders’ engagement with maritime and logistics practitioners. The event,...