Business – Page 59 – Rise Africa

Electricity Tariff Hike Imminent in Nigeria as Gencos Push

07.04.2026

Electricity generation companies have called on the Nigerian Electricity Regulatory Commission to urgently review electricity tariffs following the Federal Government’s recent increase in the domestic base price of gas, warning that delays could worsen liquidity challenges and distortions across the power sector. The Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji,...

Low Wage Employment for Nigerian Women, Says World Bank

07.04.2026

The World Bank has said that only 10.5 per cent of Nigerian women are engaged in wage and salaried employment, highlighting a sharp imbalance in access to formal, income-paying jobs in the country. This was contained in the Nigeria Gender Data Landscape 2026 edition obtained by The PUNCH from the World Bank website on Monday,...

Firms launch embedded power in Lagos to replace gensets

07.04.2026

Transgrid Enerco Limited and Decentralised Energy Limited have signed a strategic collaboration agreement aimed at addressing persistent electricity shortages in Lagos, marking a significant private-sector intervention in Nigeria’s struggling power industry. The deal, announced in a statement on Monday by Decentralised Energy, comes after President Bola Tinubu approved a N3.3tn payment plan to stabilise Nigeria’s...

Dangote Refinery Exports Boost Fuel Supply in Africa

07.04.2026

Africa’s largest refinery, owned by billionaire industrialist Aliko Dangote, has ramped up exports of gasoline and urea to African markets grappling with supply shortages triggered by the ongoing Iran war. Dangote disclosed this on Monday during a facility tour of the Dangote Petroleum Refinery in Lagos, stating that the plant is currently operating at its...

Josplay & Sony Music announce global content partnership

07.04.2026

Josplay, the Afrocentric audio platform built to serve the global African diaspora, has announced a content partnership with Sony Music Entertainment that will bring a significant portion of SME’s catalog to Josplay listeners worldwide. A statement from the firm on Monday stated that the catalog includes recordings distributed through The Orchard, as well as the...

Flight scare on Royal Air Maroc flight to Casablanca

07.04.2026

Passengers onboard a Royal Air Maroc flight (AT 554) from Lagos to Casablanca, Morocco, endured a panic-filled ordeal on Easter Monday after the aircraft attempted an unscheduled diversion to Marrakech, another major city in the country. The flight departed Murtala Muhammed International Airport, Lagos, at 7:05 a.m., with a scheduled arrival in Casablanca at 11:30...

Air Peace Flights Delayed by Baggage Screening Glitch

07.04.2026

Operations at the domestic terminal of the Nnamdi Azikiwe International Airport, Abuja, were disrupted on Monday following a technical fault affecting baggage screening equipment, causing delays to passengers, specifically those flying Air Peace. The airline, in a statement issued by its management, confirmed that the glitch had significantly slowed baggage processing and loading procedures, thereby...

GenCos Question N3.3tn Power Sector Debt Settlement Plan

07.04.2026

The Federal Government’s renewed approval of N3.3tn to settle longstanding debts in the power sector has sparked fresh controversy, as power generation companies say they have not received any payments despite similar assurances made nearly two years ago. Our correspondents report that the Federal Government has, on two different occasions, announced the approval of N3.3tn...

Naira Policy Reshapes Nigeria’s Remittance Landscape

07.04.2026

The Central Bank of Nigeria’s new naira settlement rule for diaspora remittances marks a notable shift in policy, with implications for recipients, foreign exchange flows, and market operations, JUSTICE OKAMGBA writes The Central Bank of Nigeria recently unveiled a sweeping policy that is set to reshape how diaspora remittances are received in the country, marking...

FG to Build 168-Room Hostel for UNILAG Medical Students

07.04.2026

The Federal Government, through the Tertiary Education Trust Fund, has concluded plans to construct a 168-room ultra-modern hostel for medical students of the University of Lagos. Speaking during the groundbreaking and site handover ceremony at the proposed site of the hostel inside the Lagos University Teaching Hospital, Idi-Araba, on Wednesday, the Chief Executive Officer of...