Business – Page 40 – Rise Africa

FG Vows to Enforce LG Financial Autonomy in Nigeria

08.02.2026

The Federal Government has reiterated its resolve to end the long-standing interference by state governments in funds allocated to the 774 local government areas from the Federation Account. The pledge was made on Thursday in Abuja by the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Mohammed Shehu, during the 2025 budget performance appraisal...

How tax reforms may reshape Nigeria’s real estate sector

08.02.2026

Experts in the real estate sector have stated that the tax reforms introduced by the Federal Government may change the dynamics of the real estate business. The experts disclosed this on Thursday in Lagos during the 10th AlphaCrux Real Estate Outlook Conference with the theme, ‘Amplifying resilience in the real estate industry in a disputed...

Why petrol prices in Nigeria could hit N1,000

07.02.2026

Dangote Petroleum Refinery has warned that continued reliance on coastal delivery of petroleum products could push petrol prices close to N1,000 per litre in Nigeria. The company stressed that its preferred gantry loading remains the most efficient and cost-effective method to ensure price stability for consumers. The refinery, in a statement on Thursday, explained that...

Nigeria Strengthens Gas-to-Power Chain for Industrial Growth

07.02.2026

The Federal Government has unveiled fresh measures to strengthen Nigeria’s gas-to-power value chain, describing natural gas as the backbone of electricity supply and a critical enabler of the country’s industrialisation drive. The government disclosed that gas currently fuels more than 70 per cent of Nigeria’s on-grid electricity generation but admitted that structural weaknesses across supply,...

ACFTA Fest to Empower Youth & Drive $5bn in African Trade

07.02.2026

An intra-African event, Africa Connected Through Trade, Talent & Culture Festival, is targeting the empowerment of 1.5 million youths in entrepreneurship, arts and sports, while facilitating over $5bn in trade deals and partnerships across Africa, the organisers have said. Organisers, speaking at a press conference in Lagos on Thursday, ahead of the maiden edition of...

Calls Grow for Bigger Sukuk Financing in Nigeria

07.02.2026

Experts in Nigeria’s non-interest finance space have called for larger and more frequent Sukuk issuances to deepen the market, unlock long-term capital for infrastructure, and widen financial inclusion, as volatility in global markets pushes investors towards asset-backed and ethical instruments. The call dominated discussions at the CFG Africa Non-Interest Investment Forum held in Abuja on...

Transcorp Power Revenue Hits N398bn in Strong FY 2025

07.02.2026

Transcorp Power Plc, a subsidiary of Transnational Corporation Plc, has announced its audited financial results for the year ended December 31, 2025, posting revenue of N398.27bn, up from N305.94bn in the 2024 financial year, reflecting robust growth. A statement from the firm outlines the key highlights of the results, including revenue: N398.27bn (up 30 per...

FG Reviews Agricultural Scheme After N2.31tn Produce Value

06.02.2026

The Federal Government commenced a comprehensive review of the National Agricultural Growth Scheme and Agro Pocket Project after recording 2,536,184 metric tonnes of produce valued at N2,312,746,400,000.00 over four farming seasons. Speaking at the workshop on the implementation framework of the National Agricultural Growth Scheme and Agro-Pocket Programme held on Thursday, the Minister of State...

NADDC Pushes for Tyre & Battery Import Ban in Nigeria

06.02.2026

The National Automotive Design and Development Council has called for an end to the importation of vehicle tyres and batteries into Nigeria, saying the move is critical to strengthening local manufacturing, boosting Gross Domestic Product, and deepening the country’s automotive value chain. The Director-General of NADDC, Oluwemimo Joseph Osanipin, made the call on Thursday in...

Nestlé Boosts Supply Chain with AEO Certification

06.02.2026

Nestlé Nigeria Plc has been awarded the highest level of Authorised Economic Operator certification by the Nigeria Customs Service. The company received security and safety status under the programme, which is valid for five years and recognises compliance with trade regulations and supply chain security standards. The certification followed an evaluation process that included customs...