Business – Page 113 – Rise Africa

Indorama partners for major recycling plant in Nigeria

16.03.2026

Indorama Ventures Public Company Limited, together with Nigerian Breweries Plc and Genesis Power & Energy Solutions Ltd, has entered a strategic partnership to establish one of Africa’s largest state-of-the-art recycled PET production facilities in Nigeria, based on planned production capacity. The landmark collaboration marks a significant step toward strengthening circular economy infrastructure and sustainable packaging...

Petrol import ban divides marketers as Dangote hikes price

16.03.2026

Nigeria’s downstream petroleum sector is witnessing growing disagreement among oil marketers following the Federal Government’s suspension of petrol import licences, even as the Dangote Petroleum Refinery on Friday raised its depot price of Premium Motor Spirit (petrol) to N1,175 per litre amid rising global crude oil prices. Dangote reversed an earlier reduction of N100 announced...

Shell restarts Bonga field after major offshore maintenance

16.03.2026

Shell Nigeria Exploration and Production Company Limited says it has resumed production at the Bonga deepwater field following the completion of turnaround maintenance on the Bonga floating production, storage, and offloading vessel. In a statement on Friday, the company said production restarted on March 6, 2026, after the maintenance project was completed 11 days ahead...

NUPRC enforces drill-or-drop rule for Nigeria’s oil blocks

16.03.2026

The Nigerian Upstream Petroleum Regulatory Commission has declared that the era of oil companies holding on to exploration licences for years without developing the assets is officially over, as new provisions under the Petroleum Industry Act compel operators to either develop their fields or relinquish them. The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan,...

Tinubu Urges Media to Hold States, LGs Accountable

16.03.2026

President Bola Tinubu has urged media executives to extend the same level of scrutiny they apply to his administration to states and local governments, which, he argued, now enjoy greater financial autonomy under his reformed federalism. The President made the appeal on Friday night while hosting media proprietors and executives at the Aso Rock Presidential...

Tinubu Moves NSIB to Presidency, Overruling Keyamo

16.03.2026

President Bola Tinubu has overridden the Minister of Aviation and Aerospace Development, Festus Keyamo, by moving the Nigerian Safety Investigation Bureau to the Presidency. Although it has yet to be stated which office within the Presidency the bureau will now report to, Saturday PUNCH has exclusively gathered that the President has approved its relocation from...

Trump Urges Allies to Secure Strait of Hormuz with Warships

16.03.2026

Donald Trump on Saturday called on other countries to deploy naval vessels to help secure the Strait of Hormuz, a vital passage for global oil shipments that has been disrupted by tensions linked to the Middle East war. The US president said several nations could join efforts alongside the United States to keep the waterway...

Togo Seeks to Increase Electricity Import From Nigeria

16.03.2026

Togo has expressed interest in increasing electricity imports from Nigeria through the Niger Delta Power Holding Company to meet rising domestic demand. The Managing Director of NDPHC, Jennifer Adighije, disclosed this in a statement released on Sunday following talks with Togo’s national electricity utility. The visiting delegation from Compagnie Energie Electrique du Togo was led...

OPay denies office closure, clarifies NRS notice

15.03.2026

OPay Digital Services Limited has dismissed reports that its offices in Lagos and Abuja were sealed by the Nigeria Revenue Service over alleged non-compliance with tax obligations, describing the claims as false and misleading. Reports had circulated on social media and online platforms alleging that the NRS sealed OPay’s Lagos and Abuja offices over non-compliance...

Nigerian innovators unveil tech solutions for Africa

14.03.2026

Young Nigerian innovators showcased technology-driven solutions designed to address some of Africa’s most pressing challenges at the AfriVatech iResearch Fellowship Cohort One Grand Pitch. The event featured seven young research fellows drawn from major Nigerian universities, who presented innovative projects designed to address issues ranging from food safety and healthcare to agriculture and antimicrobial resistance....