Business – Page 43 – Rise Africa

NGX RegCo delists two firms over compliance lapses

10.04.2026

The board of NGX Regulation Limited has officially approved the removal of DN Tyre and Rubber Plc and Greif Nigeria Plc from the Daily Official List of the Nigerian Exchange Limited, with the enforcement action effective Thursday, 9 April 2026. This decision, ratified during a board meeting on 27 March 2026, follows years of regulatory...

World Bank flags fiscal risk in Nigeria’s N4tn power bond

10.04.2026

The World Bank has stated its opinion on the Federal Government’s plan to settle the N3.3tn debts owed to power-generating companies, with the bank noting that the initiative effectively converts long-standing liabilities in the electricity sector into sovereign debt obligations that must be fully recognised in Nigeria’s fiscal accounts. It also cautioned the Federal Government...

Experts Divided on World Bank’s Call

10.04.2026

The call by the World Bank for the Federal Government to reopen and reinstate fuel imports has sharply divided industry players, with marketers pushing for full deregulation and competition, while some energy experts caution against undermining local refining capacity. The Independent Petroleum Marketers Association of Nigeria argued that restricting fuel imports undermines the spirit of...

Pipeline Security Boosts Nigeria Oil Production to 1.84mbpd

10.04.2026

The Nigerian National Petroleum Company Limited has said Nigeria’s crude oil production rose from a historic low of 960,000 barrels per day in 2022 to an average of 1.71 million barrels per day, with a peak of 1.84 million barrels per day in 2025, following intensified pipeline security measures in the Niger Delta. The Group...

Nigeria Power Sector Reports N204bn Revenue, N131bn Loss

09.04.2026

Electricity distribution companies recorded a 76.34 per cent revenue collection rate in January 2026, generating a total of N204.74bn, even as inefficiencies across the value chain left a revenue gap of over N131bn within the same period. Electricity customers across Nigeria also failed to pay a total of N63.46bn in bills issued by power distribution...

Lagos launches $500m human capital governance programme

09.04.2026

The landscape of public service delivery in Lagos State is undergoing a systemic transformation as the state government, in collaboration with the World Bank and First City Monument Bank, scales the Human Capital Opportunities for Prosperity and Equity–Governance programme. According to a statement on Wednesday, the $500m initiative represents a departure from traditional government spending,...

NITDA backs private sector to drive cloud expansion in Niger

09.04.2026

Nigeria has showcased its public-private digital infrastructure model at GITEX Africa in Marrakech, presenting a government-enabled, private-sector-led approach as a pathway for accelerating cloud development and strengthening Africa’s digital economy. The Director-General of the National Information Technology Development Agency, Kashifu Abdullahi, said the model positions the government as an enabler while allowing private companies to...

Guinea Insurance Projects N1.85bn Profit for Q2 2026

09.04.2026

Guinea Insurance Plc has signalled a period of robust financial growth and strategic strengthening as it forecasts a profit after tax of N1.85bn for the second quarter ending 30 June 2026. In a comprehensive regulatory filing submitted to the Nigerian Exchange on Tuesday, the insurer detailed an ambitious financial roadmap characterised by aggressive revenue targets...

NGX rally secures Nigeria’s frontier market re-entry

09.04.2026

International index provider FTSE Russell has officially restored Nigeria’s status to ‘Frontier Market’, a significant upgrade that reflects the sweeping infrastructure improvements and liquidity gains within the Nigerian Exchange. The decision, according to the NGX on Wednesday, marks the end of a period of market uncertainty and signals a renewed vote of confidence from the...

Stakeholders Push to Strengthen Food Security in Nigeria

09.04.2026

Stakeholders across Nigeria’s agriculture sector have called for stronger coordination across the value chain to improve productivity and food security at the BusinessDay Future of Agriculture Conference held in Lagos. The conference, themed “From Seed to Feed: Strengthening Agricultural Inputs for Food Security,” brought together policymakers, agribusiness operators, financial institutions, and development partners to discuss...