Business – Page 154 – Rise Africa

Bolt defends driver earnings and commission in Nigeria

25.02.2026

Amid growing public scrutiny of ride-hailing operations in Nigeria, Bolt has defended its marketplace model, emphasising transparency, sustainability and the need for fact-based conversations around driver earnings and fare structures. Recent debates within the mobility sector have focused on pricing systems, platform commissions and the economic realities facing drivers. In response, Bolt said during a...

NGX Suffers N1.14tn Loss Amid Major Stock Sell-Offs

25.02.2026

Sell-offs in bellwether stocks, including BUA Foods Plc, MTN Nigeria Communications Plc and Stanbic IBTC Holdings Plc, weighed heavily on the Nigerian equities market on Tuesday, erasing about N1.14tn in investor value and halting the market’s recent bullish momentum. Data from the Nigerian Exchange Limited showed that the All-Share Index declined by 0.91 per cent...

Origin Tech & OAU collaborate for food security in Nigeria

25.02.2026

Food systems company Origin Tech Group Nigeria Limited has signed a partnership agreement with Obafemi Awolowo University to establish a centre of excellence aimed at strengthening Nigeria’s agricultural value chain and improving food security. The agreement, sealed through a memorandum of understanding recently at the university’s campus in Ile-Ife, will combine the company’s expertise in...

XEJet & UniAbuja Partner on Aerospace Training Centre

25.02.2026

A domestic airline, XEJet Limited, has signed a strategic Memorandum of Understanding with the University of Abuja to establish the XEJet Centre for Aerospace and Space Engineering. According to the airline, the project is a purpose-built academic hub designed to advance aeronautical and astronautical engineering education in Nigeria and strengthen the country’s position in the...

How Diaspora Remittances Can Bridge Nigeria’s Housing Gap

25.02.2026

Real estate investor Tayo Oyerokun has said Nigeria’s annual diaspora remittances, estimated at about $21bn, could significantly bridge the country’s housing deficit if properly harnessed through structured investment platforms. Speaking during the celebration of the 10th-year anniversary of the company in Lagos on Saturday, the property developer and housing advocate stressed that Nigeria must begin...

Expert urges Nigeria to revive auto parts manufacturers

25.02.2026

An industrial and automotive-quality expert, Love Adewale, has called on the Federal Government to revive Nigeria’s dormant vehicle parts manufacturing companies, warning that the collapse of the component’s subsector is weakening the country’s automotive value chain. Adewale, a quality engineer with Magna International in the United States, said Nigeria must rebuild its components manufacturing base...

NUPRC launches 60-day plan to digitise operations

25.02.2026

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, has announced a 60-day programme to fully digitise the commission’s internal communications and operational processes as part of efforts to enhance transparency, speed, and regulatory efficiency. Eyesan disclosed this when the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, Musa Sarkin Adar,...

MEA Energy Enters Retail Market, Targets 250 Stations

25.02.2026

MEA Energy Limited has formally entered Nigeria’s downstream petroleum retail market with the unveiling of its maiden filling station in Bwari, Abuja, signalling plans to roll out up to 250 retail stations across key locations nationwide. The company, which operates as an oil and gas products trader, importer, wholesaler, retailer, ocean/coastal marine transit provider, and...

Nigeria’s $1tn Economy Hinges on Early Childhood Investment

25.02.2026

The World Bank has said Nigeria’s quest to build a $1tn economy by 2050 will depend largely on how urgently it invests in early childhood development, warning that productivity gaps formed before age five could weaken long-term growth. The Lead, Early Years Programme at the World Bank, Dr Ritgak Tilley-Gyado, said this in Abuja on...

Sterling Bank Rallies Stakeholders for Nigeria’s Tourism

25.02.2026

Sterling Bank Limited is rallying senior government officials, industry regulators, institutional investors, hospitality operators, creatives, and traditional leaders in Lagos to drive coordinated action aimed at unlocking sustainable investment and long-term growth in Nigeria’s tourism and creative economy. According to the lender in a statement on Tuesday, the aim of the convening is to position...