Business – Page 20 – Rise Africa

Nigerian Breweries Stock Rallies After Business Recovery

17.04.2026

The leadership of Nigerian Breweries Plc has tied the recent triple-digit surge in its share price to a successfully executed business recovery plan, asserting that the company has emerged from its most turbulent financial period with a fortified market position. Speaking at the 80th Pre-Annual General Meeting media briefing in Lagos on Thursday, the Managing...

Business

MTN Suspends Xtratime Over New Lending Regulations in Nigeri

17.04.2026

MTN Nigeria, the country’s largest telecoms operator, has suspended its airtime and data lending service known as “Xtratime” as new regulatory requirements under Nigeria’s expanded digital credit rules take effect. The company said the temporary suspension was driven by compliance obligations under the Federal Competition and Consumer Protection Commission’s Digital, Electronic, Online or Non-Traditional Consumer...

Nigeria Intensifies Push to Host African Monetary Institute

17.04.2026

Nigeria has intensified efforts to host the African Union’s African Monetary Institute, signalling a renewed push toward deeper monetary cooperation and financial integration across the continent, as preparations gather pace for the institute’s planned take-off in September 2026. The renewed commitment was reinforced on the sidelines of the ongoing IMF/World Bank Spring Meetings in Washington...

Odu’a & Elektron to Build 50MW Lagos Power Plant

17.04.2026

Odu’a Investment Company Limited has partnered with Elektron Energy Development Strategies Limited to develop a 50-megawatt gas-fired Independent Power Plant in the heart of Lagos’ industrial corridor. The project, sited at the former Cocoa Industries Limited Complex within the Ogba Industrial Estate, represents a $40m investment aimed at providing dedicated, uninterrupted power to one of...

RMAFC seeks stronger ties to boost investment inflows

17.04.2026

The Revenue Mobilisation Allocation and Fiscal Commission has said it is strengthening collaboration with key government institutions to attract foreign investment and boost revenue generation. This was contained in a press statement issued on Thursday by the Head of the Information and Public Relations Unit of the commission, Maryam Umar-Yusuf. According to the statement, the...

IMF Hails Nigeria’s Economic Reforms Amid Challenges

17.04.2026

The International Monetary Fund has commended Nigeria’s macroeconomic reform programme, describing it as a key contributor to Sub-Saharan Africa’s recent economic gains, even as it acknowledged the growing hardship facing citizens amid fresh global shocks. Speaking during a press briefing on the IMF’s April 2026 Regional Economic Outlook for Sub-Saharan Africa at the ongoing Spring...

Marketers Dispute N3,300 Aviation Fuel Price Claim

17.04.2026

The Major Energies Marketers Association of Nigeria has disputed claims that aviation fuel is selling for as high as N3,300 per litre, urging airline operators to seek alternative suppliers while attributing current price pressures to global supply disruptions and logistics costs. The Airline Operators of Nigeria had earlier warned that domestic airlines may suspend operations...

Senate Panel Flags Corruption in Nigerian Aviation Industry

17.04.2026

The Chairman of the Senate Committee on Aviation, Senator Abdulfatai Buhari, has described Nigeria’s aviation industry as “very dirty,” alleging deep-seated irregularities that, according to him, cannot be publicly disclosed. Buhari made the remarks on Thursday while speaking at the 59th anniversary of the National Association of Nigerian Travel Agencies, held alongside its Conference, Annual...

Dangote to showcase refinery at Nasarawa trade fair

17.04.2026

Dangote Industries Limited, is set to showcase its flagship Dangote Petroleum Refinery and Petrochemical Company at the 2026 Nasarawa Trade Fair, which will be officially declared open by the State Governor, Abdullahi Sule, on April 20, 2026. The company said in a statement on Thursday that it will also highlight its Vision 2030, which focuses...

AK Botanicals Appoints Augustine Okpe as Vice President

17.04.2026

A United States-based skincare manufacturing firm, AK Botanicals, has appointed Augustine Okpe as Vice President, International Business Development, as part of its push into African and European markets. In a statement, the company said the appointment would strengthen its global expansion strategy, with Okpe expected to spearhead entry into the regions next month through acquisitions,...