Business – Page 19 – Rise Africa

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,...

Nigeria’s Customs Reforms Empower Africa in WCO Policies

11.12.2025

The Chairperson of the World Customs Organisation Council, Dr Adewale Adeniyi, has said that Nigeria’s recent modernisation efforts are serving as a strong example of the continent’s readiness to influence global customs policies. Adeniyi added that his recent election to the WCO signals broader recognition of the growing reform-driven credibility of African Customs administrations. According...

Ikeja Customs Seize N10bn Goods & Arrest 38 Suspects

11.12.2025

The Nigeria Customs Service, Federal Operations Unit, Zone A, Ikeja, has stated that the unit intercepted goods with a duty paid value of N10.1bn and arrested 38 suspects within the last seven months. The outgoing CAC of the unit, Muhammed Shuaibu, disclosed this on Wednesday during the handing-over ceremony held at the command in Ikeja,...

Spectrum Holdings on Building Transgenerational Businesses

11.12.2025

The Managing Director and CEO of Spectrum Holdings, Dr (Mrs) Catherine Adesomoju, emphasised that entrepreneurs are creators who must intentionally start with value and foster others for succession. Speaking during the recently concluded 2025 edition of Time-Out With Kate, an entrepreneur and business-growth support conference, which was held in Lagos, she stressed the need for...

WAPCO Plans Pipeline Expansion for West African Gas Supply

11.12.2025

The West African Gas Pipeline Company says it is moving into a new phase of growth that will see the regional gas network push towards full utilisation of its 470 million standard cubic feet per day capacity and begin preparing for a future system expansion, even as it raises the alarm over the growing threat...

LASWA & NIWA Tighten Waterway Safety Protocols for Holidays

11.12.2025

The Lagos State Waterways Authority and the National Inland Waterways Authority have announced a strengthened, collaborative safety and security campaign to ensure safer passenger movement during the festive period. According to a Monday statement jointly signed by both NIWA and LASWA, the joint effort reinforces the commitment of both agencies to safeguarding lives, promoting seamless...

Nigeria’s N9.16tn Manufacturing Output Shows Weak Growth

11.12.2025

The manufacturing sector generated N9.16tn in nominal terms in the third quarter of 2025. It grew at 1.25 per cent, which the Manufacturers Association of Nigeria described as sluggish, warning that the country’s 3.98 per cent Gross Domestic Product growth does not signal a robust advancement without a corresponding rise in industrial output. GDP data...

Agusto Upgrades FCMB Asset Management Rating to A(IM)

11.12.2025

FCMB Asset Management Limited, the asset management subsidiary of FCMB Group Plc, has received an upgrade from A-(IM) to A(IM) Investment Manager rating from Agusto & Co., a leading pan-African credit rating agency. The rating upgrade reflects FCMBAM’s continued enhancement of its investment management processes, robust research capabilities, disciplined governance framework, and extensive experience within...