Business – Page 96 – Rise Africa

Nigerian Govt Budgets N6bn for 2026 Judgement Debts

19.01.2026

The Federal Government has proposed to spend N6.12bn on judgement debts and related liabilities across three ministries in the proposed 2026 budget, a review of the appropriation bill shows. An analysis of the figures indicates that the total allocation for judgement debts in 2026 stands at N6.12bn, compared with N6.05bn provided in the proposed 2025...

Economists Back IMF Warning on Nigeria Economic Reforms

19.01.2026

Economic experts have backed the International Monetary Fund’s cautionary stance on Nigeria’s reform agenda, urging the Federal Government to sustain ongoing economic reforms and avoid policy reversals, particularly as political pressures build ahead of the election cycle. They warned that compromising reforms could undermine recent gains in inflation moderation, weaken investor confidence, and further strain...

Nigeria’s capital spending claim questioned by analysts

19.01.2026

Economic analysts are questioning the Federal Government’s claim that it achieved 85 per cent of its capital expenditure in the 2024 fiscal year, citing transparency concerns, delays in contractor payments, and a lack of independent project verification. The scrutiny follows comments by the Minister of Finance, Wale Edun, at the 2026 Macroeconomic Outlook event in...

Over 100,000 vehicles now run on CNG in Nigeria

19.01.2026

The Presidential Initiative on Compressed Natural Gas and Electric Vehicles says over 4,600 tricycles and 100,000 vehicles in Nigeria now use CNG as an alternative or complementary fuel. The Chief Compliance Officer of PiCNG, Mr Zayyanu Tambari, made this known to the News Agency of Nigeria in Abuja on Sunday. PUNCH Online reports that CNG...

Alake Re-elected Chairman of African Minerals Strategy Group

19.01.2026

The Minister of Solid Minerals Development, Dr Dele Alake, has been re-elected Chairman of the Africa Minerals Strategy Group, a continental forum of African ministers responsible for minerals and mining, committed to coordinated action to maximise value addition and beneficiation from Africa’s mineral resources. The re-election was confirmed in a statement issued on Sunday by...

Moniepoint tech bootcamp seeks top Nigerian graduates

19.01.2026

Moniepoint Inc., one of Africa’s leading digital financial services providers, has opened applications for the second cohort of its flagship DreamDevs initiative, a programme designed to bridge the continent’s tech talent gap by equipping recent graduates with industry-ready skills and practical experience. The fintech unicorn said in an email that the programme is open to...

Business

Glo introduces Travel Saga mobile game for subscribers

19.01.2026

Globacom has launched Travel Saga, a premium, action-packed mobile gaming experience available exclusively to subscribers on the Glo network, as the telecoms operator steps up its push into digital entertainment. The story-driven role-playing adventure is designed to deliver high-intensity action, immersion and competitive gameplay similar to popular global titles, while being fully optimised for mobile...

FCMB secures national licence amid recapitalisation

19.01.2026

FCMB Group Plc has secured a national banking licence for its flagship banking subsidiary, First City Monument Bank, after completing a major capital raise, allowing the lender to continue domestic operations while it works toward meeting the N500bn capital threshold required for an international licence under Nigeria’s banking sector recapitalisation programme. This development comes to...

Agbeyewa acquires Matna to boost Nigerian agribusiness

19.01.2026

Agbeyewa Industries Limited, a subsidiary of Cavista Holdings, has acquired Matna Foods Company Limited, founded in 1998 by former Central Bank of Nigeria Governor, Dr Joseph Sanusi, further strengthening its position in the Nigerian agribusiness sector. According to the firm in a statement issued on Sunday, the acquisition marks a significant strategic milestone for Agbeyewa...

NeoLife pays N31bn to its Nigerian distributors

19.01.2026

Global health and wellness company NeoLife paid a total of N31bn to its Nigerian distributors in 2025, up from N18bn the previous year, underscoring rapid growth in its local operations, company executives said on Friday. The payout was disclosed at NeoLife’s RISE meeting held in Lagos, a flagship event that kicks off the company’s business...