Business – Page 649 – Rise Africa

SAHCO to set direction for cargo future

29.05.2025

The Skyway Aviation Handling Company said it has met cargo stakeholders in the bid to reshape the future of cargo in the aviation industry. SAHCO made this known in a statement on Tuesday, which stated that the event brought together a wide range of industry players, including airlines, exporters, clearing agents, and logistics professionals, to...

E-hailing drivers decry LagRide’s operational challenges

29.05.2025

E-hailing drivers operating under the Lagos State Government-backed LagRide platform have raised concerns over what they describe as persistent operational failures, unfulfilled promises, and exploitative practices by the app’s managing companies. In a strongly worded statement signed by a Public Relations Officer of the Amalgamated Union of App-Based Transporters of Nigeria, Steven Iwindoye, the drivers,...

Chinese trade truce lifts US consumer confidence

29.05.2025

Consumer confidence in the United States improved significantly in May following a truce in the ongoing trade war between Washington and Beijing. This marks a positive turn after five consecutive months of declining sentiment. According to Reuters, the Conference Board, a global economic research group, reported on Tuesday that its consumer confidence index rose by...

Fresh $24bn borrowing may balloon Nigeria’s debt to N183tn

29.05.2025

•NASS set to approve Tinubu’s loan request, foreign debt nears $70bn, economists worry over high debt-servicing Nigeria’s public debt is set for another significant jump as President Bola Tinubu has requested the National Assembly’s approval to secure fresh foreign loans amounting to about $24.14bn. At the prevailing official exchange rate of N1,583.74/$1, the proposed borrowing...

SEC Warns Nigerians Against Silverkuun Investment Scam

29.05.2025

The Securities and Exchange Commission has warned Nigerians against investing in unregistered investment schemes, specifically naming Silverkuun Investment Cooperative Society and Silverkuun Limited. In a circular issued on Wednesday, the Commission stated that it had been alerted to the activities of these entities, which falsely present themselves as investment advisers and fund managers in the...

FG promises sustainable borrowing for economic growth

29.05.2025

The Federal Government has assured Nigerians of a sustainable borrowing framework that prioritises economic growth and fiscal discipline, following President Bola Tinubu’s formal request to the National Assembly for approval of the 2024–2026 External Borrowing Rolling Plan. In a press statement on Wednesday by the Director of Information and Public Relations at the Ministry of...

Business

ILO downgrades global employment outlook for 2025

29.05.2025

The International Labour Organisation released its updated World Employment and Social Outlook on Wednesday, revealing a significant downgrade in its global employment forecast for 2025. The report projects the creation of 53 million new jobs, a sharp reduction from the previously estimated 60 million, resulting in a shortfall of approximately 7 million jobs. This revision...

$300 helicopter fee raises more dust

29.05.2025

The Federal Government has concluded plans to move the burden of the $300 landing levy by the Airline Operators of Nigeria to passengers, particularly oil companies, following robust opposition. The government, through the Federal Ministry of Aviation and Aerospace Development and the Nigerian Airspace Management Agency, introduced the controversial levy last year but met stiff...

PAC Holdings bags award for investment excellence

29.05.2025

PAC Holdings and its subsidiaries have been honoured for outstanding performance at the 2025 Global Banking & Finance Awards, securing four prestigious accolades that underscore their excellence, innovation, and social impact within Nigeria’s financial services landscape. The group was awarded Best Investment Management Company Nigeria, a recognition that reflects PAC Holdings’ leadership and consistent strength...

IFC, Mohinani boost economy with plastic recycling

29.05.2025

The International Finance Corporation and the Mohinani Group are turning Nigeria’s plastic waste into a source of economic opportunity, with a focus on green manufacturing, job creation, and environmental sustainability. During an official visit to the Mohinani Group’s Sonnex rPET facility in Ikorodu, Lagos, recently, IFC Vice President of Corporate Support Elena Bourganskaia praised the...