Business – Page 602 – Rise Africa

Three million bpd production achievable in 2025 – Lokpobiri

13.02.2025

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said Nigeria can achieve the production of three million barrels of oil per day in 2025. Lokpobiri said this would include crude and condensates, adding that the country would raise production without having issues with the Organisation of the Petroleum Exporting Countries. Speaking at...

NNPCL/First E&P concludes medical outreach in Bayelsa

13.02.2025

The NNPC Ltd/FIRST Exploration & Petroleum Development Company Limited Joint Venture has announced the successful completion of its third annual medical outreach in Bayelsa State, reinforcing its commitment to community well-being and sustainable development. This initiative, benefitting more than 3,800 beneficiaries across 11 host communities, is to provide essential healthcare services, enhancing access to medical...

$50m IFC investment shows global confidence – Tinubu

13.02.2025

President Bola Tinubu on Wednesday commended the International Finance Corporation for its recent $50m equity investment in the Lagos Free Trade Zone. He described this as a symbol of the growing trust of global financial institutions in Nigeria’s economic direction under his administration. Tinubu conveyed his message through a statement signed by his Special Adviser...

Fashola, others advocate monthly payment of rent

13.02.2025

The former Governor of Lagos State, Babatunde Fashola and operators in the built environment have called for a monthly rent payment system in Nigeria. They made the call at the Wemabod Real Estate Outlook 2025 themed, “Real Estate Development: A Catalyst for Nigeria’s Economic Recovery,” in Lagos. Fashola, an ex-Minister of Power, Works, and Housing,...

Tony Elumelu Foundation partners UAE entities to empower African entrepreneurs

13.02.2025

The Tony Elumelu Foundation has signed a $6m partnership agreement with the United Arab Emirates Office of Development Affairs and Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed) to provide business training, mentorship, access to networks, and non-refundable $5,000 seed capital to an additional 1,000 young African entrepreneurs. According to a statement...

Why Nigeria, S’Africa top cybercrime hit lists – Deimos CTO

13.02.2025

Chief Technology Officer at Deimos, Jaco Nel, speaks with LAOLU AFOLABI about Africa’s rising cyber threat landscape. The CTO of the leading hybrid/multi-cloud professional services company specialising in cloud-native development and security operations sheds light on why Nigeria and South Africa are vulnerable to cyberattacks and offers insights into addressing these challenges. Cyber threats are...

Oil-producing states battle N1.3tn despite N2.8tn derivation allocation

13.02.2025

Oil-producing states in Nigeria have received a total of N2.85tn in 13 per cent derivation revenue between 2022 and 2024, according to findings by The PUNCH. The findings are based on analysis of data from each state’s budget implementation reports for the period under review. The eight states that benefitted from the 13 per cent...

Dangote refinery reduces diesel price to N1,020/litre

13.02.2025

Dangote Petroleum Refinery and Petrochemicals says it has reduced the cost of its diesel to N1,020 per litre, down from N1,075 per litre at the gantry price. In a statement on Tuesday, the company said the reduction was to better serve its customers and Nigerians in general. The PUNCH recalls that when it began diesel...

Nigerian banks on track to meet recapitalisation deadline — Fitch

13.02.2025

International rating agency Fitch Ratings has indicated that Nigerian banks are on track to meet the March 2026 recapitalisation deadline set by the Central Bank of Nigeria. This was disclosed in a non-rating commentary issued by the firm on Nigerian banks on Wednesday via its website.In March 2024, the Central Bank directed banks to meet...

Power grid collapses amid plan to hike tariffs

13.02.2025

Electricity consumers have expressed concerns following the collapse of the national grid on Wednesday. Consumers were worried that the grid collapsed at a time when the government was planning to increase tariffs. The PUNCH reports that the national grid experienced another system collapse on Wednesday, throwing many Nigerians into a blackout. On various social media...

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I apologise for saying no heaven without tithe – Adeboye

04.10.2024

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024

The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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Latest News

Three million bpd production achievable in 2025 – Lokpobiri

NNPCL/First E&P concludes medical outreach in Bayelsa

$50m IFC investment shows global confidence – Tinubu

Fashola, others advocate monthly payment of rent

Tony Elumelu Foundation partners UAE entities to empower African entrepreneurs

Why Nigeria, S’Africa top cybercrime hit lists – Deimos CTO

Oil-producing states battle N1.3tn despite N2.8tn derivation allocation

Dangote refinery reduces diesel price to N1,020/litre

Nigerian banks on track to meet recapitalisation deadline — Fitch

Power grid collapses amid plan to hike tariffs

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I apologise for saying no heaven without tithe – Adeboye

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