Business – Page 33 – Rise Africa

Legend Internet Posts N14.78m Loss Amid Rising Costs

08.12.2025

Legend Internet Plc has reported a loss after tax of N14.78m for the period ended 31 October 2025, reversing the N94.52m profit posted in the corresponding period of 2024. The decline was driven by lower revenue and a sharp rise in administrative costs. The company’s revenue fell by 17 per cent to N258.27m from N309.74m...

Nigerian stock market gains N2.44tn from ICT, banking

08.12.2025

The Nigerian Exchange Limited closed the week on a high, with ICT and banking stocks driving the market up by N2.44tn. The All-Share Index gained 2.45 per cent to 147,040.08 points, while market capitalisation rose 2.67 per cent to N93.722tn. Investor activity picked up sharply, with a total turnover of 6.617bn shares worth N113.224bn changing...

Nigeria’s World Bank Debt Set to Reach $9.65bn This Year

08.12.2025

World Bank loans to Nigeria between 2023 and 2025 are projected to reach $9.65bn by the end of this year as fresh approvals, ongoing negotiations, and disbursements gather pace across key sectors. The amount covers International Bank for Reconstruction and Development and International Development Association loans only, according to an analysis of data on the...

Nigeria economic growth forecast at 4.5% for Q4 2025

08.12.2025

Analysts at Afrinvest have projected that Nigeria’s economy could expand by 4.3 to 4.5 per cent in the fourth quarter of 2025, supported by seasonal factors, improved foreign exchange supply, and stronger consumer spending, according to macroeconomic projections. According to its weekly update, this outlook follows the release of the third-quarter Gross Domestic Product report...

ASHON urges capital gains tax review amid market decline

08.12.2025

The Association of Securities Dealing Houses of Nigeria has called on the Federal Government to review the recently introduced Capital Gains Tax on securities, following a sharp N6tn decline in market capitalisation in November. The plea came from ASHON’s newly inaugurated Chairman, Seinde Adenagbe, who was officially decorated as the group’s 6th chairman in Lagos...

Firm empowers innovators to grow businesses in Nigeria

08.12.2025

Entrepreneurs, creatives, and small and medium-sized enterprises in Nigeria received practical guidance on building, protecting, and scaling their businesses at the Ascend360 Conference, held recently at the Naval Dockyard, Victoria Island, Lagos. The conference, powered by Blaque Swann Legal Practitioners and themed “Build, Protect and Grow”, brought together legal experts, business leaders, and digital professionals...

Leaders Push for Tech-Driven Insurance Expansion in Nigeria

08.12.2025

Stakeholders in Nigeria’s insurance sector have emphasised the critical role of resilience in navigating the challenges facing the industry, highlighting its importance in coping with unexpected events. This was stressed at the 25th Adetunji Ogunkanmi Memorial Lecture, themed “Beyond Insurance: Building Resilience, Health, and Legacy,” which explored the complexities of the insurance sector, according to...

How Energy Costs Hinder Manufacturing in Nigeria

08.12.2025

The Lagos Country Club has called on the private sector to deepen investments in local manufacturing to tackle inflation, challenge unfavourable policies, and urged the government to fix structural bottlenecks such as high energy tariffs and chronic power shortages. In lectures delivered at the forum, the LCC asked the private sector to emulate Dangote Industries’...

Business

Mauritius Wins FirstBank Junior Achievement Award in Abuja

08.12.2025

First Bank of Nigeria Limited has presented its CEO Award to Team Mauritius at the grand finale of the 15th Junior Achievement Africa Company of the Year competition, which concluded over the weekend in Abuja. The three-day event, held from December 3 to 5, 2025, brought together student entrepreneurs from eight African countries—Eswatini, Ghana, Mauritius,...

CAC to Clamp Down on Unregistered PoS Operators in Nigeria

08.12.2025

The Corporate Affairs Commission has issued a stern warning to Point-of-Sale operators across the country, announcing a nationwide enforcement campaign against businesses operating without proper registration. In a statement issued on Saturday on its Instagram page, the Commission said it had observed an increase in the number of PoS operators running without registration. PUNCH Online...