Standard Bank Plans $15.4 Billion Investment in African Firms
Standard Bank Group plans to increase investments in mid-sized African companies, targeting $15.4 billion in revenue from Nigeria, Ghana, Kenya, Uganda, and Tanzania.
Category : Business
Bayelsa yet to decide tariff for 60MW power plant
Bayelsa State Government has not yet decided on tariffs for its new 60MW gas-fired power plant. Residents raise concerns over PHEDC's revenue drive and lack of metering.
81% of Nigerian SMEs Confident, Embrace Digital Payments
A Mastercard study reveals 81% of Nigerian SMEs are confident about the next 12 months, with 68% expecting revenue growth. Digital payments are seen as vital for expansion.
African Banks Must Unify Customer Data to Unlock Its True Value
African banks have won the race for customers but now face the challenge of truly understanding them. They must unify scattered data into a single, actionable profile to boost engagement and cut churn.
Customs, BAT Sign Pact to Tackle Illicit Tobacco Trade
Nigeria Customs Service and British American Tobacco Nigeria sign MoU to combat illicit tobacco trade through intelligence sharing, capacity building, and coordinated enforcement.
NAICOM Exits African Alliance After 18-Month Intervention
NAICOM has handed over African Alliance Insurance to a new board, ending an 18-month regulatory intervention that rescued the insurer from collapse and restored stability.
Ndume Proposes 5% Budget for Rural Renewable Energy
Senator Ali Ndume calls on West African governments to allocate 5% of annual budgets for rural renewable energy, citing less than $1 million can transform a community.
FG secures $380m in strategic financing under industrial policy
The Ministry of Industry, Trade and Investment reports $380 million secured and 620 youths trained in the first 90 days of Nigeria's Industrial Policy 2025 implementation.
Century After Inception, NRC Still Operates at a Loss
Despite billions in government funding, the Nigerian Railway Corporation (NRC) continues to run at a loss, relying on loans to sustain operations. Experts call for a shift to freight-focused reforms.
FG Urged to Fix Ports, Trade Bottlenecks for AfCFTA
APFFLON urges Nigeria to resolve port inefficiencies, high costs, and regulatory hurdles before committing $1 billion to AfCFTA credit facility.
10,000 Food Packs for Refugees by AREF
The African Refugees Foundation will distribute 10,000 food packs to refugees and IDPs across Lagos and selected states for World Refugee Day 2026.
Lagos Paid Parking: Challenges and Benefits of New Policy
Lagos plans paid on-street parking by end of 2026 to ease traffic. Concerns include corruption, infrastructure gaps, and need for transparency and digital enforcement.
Standard Bank Targets Nigeria in $15.4B SME Expansion
Standard Bank Group targets Nigeria and four other African markets as growth hubs, aiming to tap a $15.4 billion revenue opportunity from SMEs and intra-African trade.
Policymakers Back Youths in Monetising Plastic Waste
Policymakers support youth-led innovations to monetise plastic waste in Nigeria, with calls for a national recycling policy and awards of N500,000 each to recyclers.
Nigeria Borrows for Survival, America Borrows for Power: Expert
Analysis compares US and Nigeria's debt profiles, warning Nigeria's borrowing risks a debt trap as loans fail to yield visible development, with debt servicing consuming revenue.
Asaba emergency landing: Overhaul aircraft surveillance
Experts urge Nigeria to overhaul aviation surveillance after a business jet landed on a highway in Delta State and departed without clearance, raising security concerns.
TVS Expands Nigeria Operations via New Distribution Deal
TVS Motor Company partners with Enviable Tricycle to expand distribution in Nigeria, increasing outlets from 17 to 47 and introducing new models to meet rising demand for affordable transport.
Boeing Training Program Boosts Nigeria Aviation Growth
ValueJet MD Omololu Majekodunmi says Boeing's Advanced Technical Training for Nigerian engineers is a key investment in aviation safety and industry growth.
Nigeria Spent N1.9tn on Petrol Imports in May 2026
Nigeria's petrol import bill surged to N1.9 trillion in May 2026, despite falling oil prices, as filling stations maintained high pump prices.
Keyamo Defends Govt as Okonkwo Calls for Aviation Reforms
Minister Keyamo defends government policies as UNA Chairman Okonkwo urges reforms to address rising costs, funding issues, and aircraft shortages in Nigeria's aviation sector.
MTN CEO Backs Youth Empowerment Against Afrophobia
MTN Group CEO Ralph Mupita calls for youth empowerment to combat Afrophobia, emphasizing digital economy benefits and warning against boycotts that harm pan-African businesses.
Africans Urged to Embrace Positive Tribalism for Progress
Africans have been urged to rethink tribalism as a catalyst for development, not division. Dr. ChiChi Aniagolu-Okoye advocates for positive tribalism to unlock Africa's potential.
Expert Warns 30,000 Communities Risk Flooding as NEC Approves N83.2bn
A sustainability expert warns 30,000 communities face flood risk in 2026. NEC approves N83.2 billion intervention, half the requested amount, for flood preparedness and climate disaster mitigation.
FG, Ogun, IFAD Partner to Support Farmers in Agribusiness
The Federal Government, Ogun State, and IFAD launch SAPZ programme to empower smallholder farmers, boost cassava and rice production, with over 100,000 direct beneficiaries.
Julius Berger approves N6.8bn dividend, profit surges 38.5%
Julius Berger Nigeria Plc reported a 34.1% revenue rise to N566.71bn and 38.5% PBT growth to N40.95bn, approving N6.8bn dividend payout at its AGM in Abuja.
UAE Eyes Deeper Partnerships with Nigeria for Growth
The UAE reaffirms long-term economic commitments to Nigeria, highlighting growing trade from $1.3B to $4.9B and new opportunities in tech, infrastructure, and AI.
Nigerian Engineer Patents Subsea Tech, Marks New Chapter in Innovation
Nigerian engineer Dulo Chukwuemeka Wegner patented a hybrid underwater sensor network for subsea inspection and renewable energy harvesting, marking a milestone in local innovation.
Ndume Urges 5% Budget for Rural Renewable Energy
Senator Ali Ndume calls on West African governments to allocate 5% of annual budgets to rural renewable energy, citing that under $1 million can transform a community. ECOWAS seeks new financing models.
Lebara Nigeria Launches LebaraPlay for Creative Economy
Lebara Nigeria launches LebaraPlay, a mobile-first entertainment platform with microdramas, music, and lifestyle content, partnering with Forever 7 Entertainment to boost Africa's creative economy.
Tinubu: Fertiliser Reforms Shield Nigeria, Save N61.6bn
President Tinubu announced fertiliser reforms have insulated Nigeria's agriculture from global disruptions, saving N61.6 billion and boosting local production under the Renewed Hope Agenda.
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