Business – Page 865 – Rise Africa

FG deducts states’ N800bn allocations to pay foreign debt

19.03.2025

The Federal Government deducted N800bn from state allocations in 2024 to service foreign debts and other contractual obligations, according to the latest FAAC Quarterly Review released by the Nigeria Extractive Industries Transparency Initiative. In a statement on Tuesday by the acting Director of Communication and Stakeholders Management, NEITI, Mrs Obiageli Onuorah, the agency noted that...

Oil earnings threatened as explosion rocks 450,000bpd pipeline

19.03.2025

Nigeria’s daily oil output might be affected following an explosion that rocked a section of the Trans Niger Pipeline in Bodo Community, Gokana Local Government Area of Rivers State. The pipeline is owned by Renaissance Africa Energy Holdings. A media person in the Renaissance Renaissance Africa Energy Holdings said the company responded to an incident...

CrediCorp unveils N100bn car ownership credit scheme

19.03.2025

The Chief Executive Officer of the Nigeria Consumer Credit Corporation, Uzoma Nwagba, has launched a N100bn consumer credit initiative aimed at making car ownership more accessible to Nigerians. Speaking at a stakeholders’ event for vehicle reward beneficiaries on Tuesday, Nwagba said the scheme was designed to empower Nigerians by providing them with access to essential...

PENGASSAN threatens to withdraw members from upstream operations – Punch Newspapers

19.03.2025

The Petroleum and Natural Gas Senior Staff Association of Nigeria has threatened to withdraw all its members from every upstream operation nationwide if Sterling Oil Exploration and Energy Production Company fails to immediately address the ongoing labour issues between the oil firm and PENGASSAN. The association also stated that the Federal Government must remove the...

Finance minister pledges support for private sector, meets Dangote

19.03.2025

The Federal Government has reaffirmed its commitment to creating a business-friendly environment that encourages private-sector investment, boosts economic growth, and generates job opportunities for Nigerians. According to a statement signed on Tuesday by the Director of Information and Public Relations, Mohammed Manga, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave...

FIRS vows to strengthen tax policy in W’Africa

19.03.2025

The Federal Inland Revenue Service has pledged to strengthen tax policy formulation and capacity-building initiatives, not just within Nigeria but across the entire West African region. The Executive Chairman of FIRS, Dr Zacch Adedeji, made this commitment at the West Africa Tax Administration Forum Country Correspondents Conference/Training for Heads of Corporate Communications Functions and the...

Devastating effects of inflation on Nigerians

19.03.2025

In this piece, HENRY FALAIYE examines how Nigeria’s rising inflation is rapidly eroding people’s wealth, making it harder to save or invest As the cost of living soars, financial stability becomes a mirage, leaving many struggling to maintain economic security. For millions of Nigerians, saving money has long been seen as a fundamental pillar of...

Better regulation will raise Nigeria’s crypto investments – CEO

19.03.2025

Chief Executive Officer of FlashChange, Bidemi Oke, tells Felix Oloyede that Nigeria can leverage cryptocurrencies to improve capital inflows into the country Last year, the government, through the Security Exchange Change came up with plans to regulate the crypto space. How do you react to this? The SEC’s move to introduce a regulatory framework for...

CSCS to host annual conference for Africa, Middle East

19.03.2025

The Central Securities Clearing System PLC is set to host the annual conference of the Africa and Middle East Depositories Association in Lagos. CSCS, in a statement on Tuesday, said that the event will be held under the theme ‘Shaping the Future: Financial Markets & Infrastructures as Catalysts for Transforming Economies.’ The CSCS serves as...

AI to redefine marketing strategies

19.03.2025

MediaFuse-Dentsu Nigeria has announced that it is pioneering artificial intelligence-powered integrated growth solutions to redefine the future of marketing communications. The company made this disclosure at its recently concluded three-day 2025 Management Strategy Conference, themed ‘Driving Through a Sustainable Data & Technology Strategy’, which was held in Lagos. The agency reaffirmed its commitment to data-driven...