Business – Page 220 – Rise Africa

Aiyedatiwa approves $42m for Ondo agric city project

01.12.2025

The Ondo State Governor, Mr Lucky Aiyedatiwa, has approved the creation of Ondo Agricultural City in Iju-Agbonrin/Ori-Ohin in Ose Local Government of the state by a firm, KONIG Agriculture Ltd. The project, worth $42m, was under the supervision of the Federal Government’s Framework for Responsible and Inclusive Land-intensive Agriculture initiative. The state Commissioner for Agriculture...

FAAN Reviews Irregular Recruitments Affecting 300 Staff

01.12.2025

About 300 employees of the Federal Airports Authority of Nigeria may be affected by a planned right-placement reorganisation exercise, which the agency announced on Sunday, The PUNCH has learnt. In its statement on Sunday, FAAN assured staff of its commitment to professionalism, transparency, and strict adherence to statutory standards in its human-resource and administrative procedures....

Billions lost daily to failing port infrastructure – Agbakoba

01.12.2025

Nigeria is losing about N20bn daily at the ports due to poor infrastructure and inefficiencies. A Sunday report by Olisa Agbakoba, a Senior Advocate of Nigeria, obtained by The PUNCH, stated that most of the revenue is flowing to neighbouring ports, particularly Cotonou, Tema, and Lomé. Agbakoba, while citing a recent report by Dynanmar, a...

Nigeria relies on petrol imports as Dangote Refinery falls s

01.12.2025

Fuel security slowed in October as the Dangote Petroleum Refinery supplied only an average of 17.1 million litres per day of the nation’s petrol needs, forcing the country to rely heavily on imports despite earlier hopes of self-sufficiency. The Federal Government, through its Nigerian Midstream and Downstream Petroleum Regulatory Authority, revealed this. The regulator, in...

Africa’s $93bn yearly infrastructure deficit and its impact

01.12.2025

The Director of the Centre for Housing and Sustainable Development at the University of Lagos, Professor Timothy Nubi, has said Africa requires an estimated $93bn every year to address its infrastructure deficit, warning that failure to mobilise these funds could exacerbate poverty, strain urban services, and threaten sustainable development across the continent. He disclosed this...

Lagos Demands Compliance Amid Amnesty Permit Application Sur

01.12.2025

The Lagos State Physical Planning Permit Authority has reported a significant surge in applications under the ongoing Amnesty Permit window, stressing that officers must uphold strict compliance, maintain professionalism, and process all submissions efficiently, ensuring that only buildings meeting safety and planning standards receive approval. The Lagos State Commissioner for Physical Planning and Urban Development,...

Lagos State Declares Readiness for Year-End Tourism

01.12.2025

The Lagos State Government’s key tourism agencies have announced full readiness for a smooth, safe, and vibrant festive season, following a high-level multi-agency stakeholders’ engagement held at the Lagos Continental Hotel, Victoria Island. In a statement by the ministry, it was noted that the meeting, themed “Unlocking the Potentials and Opportunities of Lagos Tourism: Collaboration...

Akmodel Homes Marks Five Years of Real Estate Excellence

01.12.2025

Akmodel Homes and Properties has celebrated its 5th Anniversary, a milestone that reflects years of vision, resilience, innovation and unwavering commitment to excellence in the Nigerian real estate sector. In a statement, it was noted that under the leadership of its Chief Executive Officer, Dr. Abdulhakeem Odegade, Akmodel Homes and Properties has expanded its portfolio...

Engineering firm donates robotics laboratory to school

01.12.2025

Julius Berger Nigeria PLC has donated a fully equipped robotics laboratory to Government Secondary School, Gwarinpa, Life Camp, in the Federal Capital Territory. In a statement, it was noted that the new laboratory, stocked with robotics kits, computers, and hands-on learning materials, was designed to give students the opportunity to explore practical tech concepts and...

NNPCL battles N8.07tn debt from crude-for-loans deals

01.12.2025

The Nigerian National Petroleum Company Limited is burdened with crude-backed loan obligations estimated at N8.07tn, according to an analysis of its 2024 financial statements and capital-commitment disclosures. The liabilities stretch across multiple forward-sale and project-financing arrangements that are expected to be serviced through substantial crude oil and gas deliveries. The commitments have become a major...