Business – Page 76 – Rise Africa

Dangote Refinery Denies IPO Listing, Cautions Public

30.03.2026

Dangote Petroleum Refinery and Petrochemicals has clarified that it has not announced any Initial Public Offering for its listing, warning the public against relying on speculative reports circulating across media and social platforms. In a statement issued by its management, the company said it had observed the “recent circulation of unauthorised information across various media...

Why Nigeria’s Petrol Prices Aren’t as Cheap as They Seem

30.03.2026

An economist and former Senior Special Adviser to the President of the African Development Bank on Industrialisation, Banji Oyelaran-Oyeyinka, has said comparisons suggesting that petrol is cheap in Nigeria are misleading, describing them as a “fallacy of one price petrol comparison.” Oyelaran-Oyeyinka said the global economy was currently facing a major shock, noting that “the...

Business

Nigeria urged to prioritise policy stability for growth

30.03.2026

Stakeholders in Nigeria’s economy have called for sustained policy consistency to anchor investor confidence and drive growth, warning that credibility and predictability remain critical to achieving sustainable prosperity. Speaking at the recent public presentation of the WorldStage Nigeria’s Macroeconomic Outlook 2026, titled ‘Turning the Corner’, in Lagos, the President of the Nigerian Association of Chambers...

SME Energy Costs Gulp 60% of Profits, Union Warns

30.03.2026

Small and Medium Enterprises across the country are struggling to survive as rising energy costs continue to eat deep into their profits, the President of the Association of Small Business Owners, Femi Egbesola, has said. He warned that many businesses are already shutting down, while others operate below capacity due to soaring fuel and electricity...

Business

Mideast Tensions Threaten Nigeria’s Pharma Export Earnings

30.03.2026

Nigeria’s chemical and pharmaceutical manufacturers face the highest risk from the ongoing US–Israel–Iran conflict, the Manufacturers Association of Nigeria has warned, citing their heavy exposure to global oil price shocks and export dependence on the United States market. In a position paper made available to Saturday PUNCH on Friday on the implications of the crisis,...

Umahi Urges Continuity for Completion

30.03.2026

The Minister of Works, David Umahi, on Friday urged stakeholders and host communities along the Bodo-Bonny corridor to support the re-election of President Bola Tinubu, saying continuity would be critical to the completion of the second phase of the strategic road project. Umahi made the call at the Medallion Award Ceremony organised by the Bodo-Bonny...

Tinubu expands CNG initiative to include electric vehicles

29.03.2026

President Bola Tinubu has approved the expansion of the Presidential Initiative on Compressed Natural Gas to include electric vehicles in a new drive to reposition the initiative. The initiative will now be known as the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (PiCNG & EV). Special Adviser to the President on Information and...

Dangote Refinery Reduces Petrol Gantry Price to N1,200/Litre

29.03.2026

The Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for Premium Motor Spirit (petrol) to N1,200 per litre, while pegging its coastal price at N1,153 per litre, a development expected to reshape fuel supply costs across Nigeria’s downstream distribution chain. According to the spokesperson of the Dangote Group, Anthony Chiejina, the price adjustment...

CBN signals economic reset as inflation drops, reserves rise

29.03.2026

The Central Bank of Nigeria has signalled a gradual economic reset, attributing improvements in inflation, foreign reserves, and investor confidence to its monetary and financial sector reforms. Speaking at the CBN Special Day during the 37th Enugu International Trade Fair on Friday, the Acting Director of Corporate Communications and Investor Relations, Sidi Hakama, said the...

Stakeholders Set Agenda for N712bn MMIA Upgrade Project

29.03.2026

Aviation professionals and stakeholders under the umbrella of the Aviation Safety Round Table Initiative have convened a high-level policy dialogue in Lagos to deliberate on the ongoing N712bn refurbishment of the Murtala Muhammed International Airport. The N712bn refurbishment is financed under the presidential Renewed Hope Infrastructural Development Funds, an intervention aimed at uplifting the airport’s...