Business – Page 51 – Rise Africa

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...

PTDF Interviews 5,885 Candidates for Overseas Scholarships

09.04.2026

The Petroleum Technology Development Fund has commenced nationwide interviews for 5,885 shortlisted Nigerians drawn from the 36 states and the Federal Capital Territory for its overseas postgraduate scholarship programme. The exercise reflects a highly competitive selection process and highlights the rising demand for specialised skills in Nigeria’s oil and gas sector, as more candidates seek...

Audit Reveals Reasons for Intervention

09.04.2026

New details have emerged on the circumstances surrounding the appointment of a new board and management for Union Bank of Nigeria by the Central Bank of Nigeria. A forensic audit of the bank indicated that the January 2024 intervention in the first-generation commercial bank followed concerns over alleged financial practices that threatened the solvency of...

Nigeria Customs seize 635k litres in smuggled petrol seizure

09.04.2026

The Nigeria Customs Service, through Operation Whirlwind, has seized about 635,132 litres of Premium Motor Spirit, popularly known as PMS, in the last six months, from October to date, The PUNCH reports. An analysis of various reports and statements from the NCS revealed that the products were intercepted in different parts of the country while...