Business

By Mosunmola Ayobami, Ilorin Event planners across Africa have been urged to prioritise passion, consistency and strong business structures to build sustainable enterprises capable of thriving beyond their founders. The Chief Executive Officer of Daraibo Events and Services Ltd., Oluwaseun Adewoye, made the call while speaking on the recently held Event Summit Africa Mid-Year Virtual Conference, themed, “Building to Last:…

By Olatomiwa Osho The National Agency for Science and Engineering Infrastructure (NASENI) has demonstrated its solar-powered irrigation pump system to farmers in Kano State to promote climate-resilient farming, boost dry-season production and reduce costs. The demonstrations, held on Wednesday, September 2, 2026, at rice farms in Zakirai, Gabawasa LGA, and Kwarin Kaba, Kumbotso LGA, were organised in collaboration with the…

The Securities and Exchange Commission (SEC) has approved the commencement of the initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, paving the way for what could become one of the largest capital market transactions in Nigeria’s history. SEC conveyed the approval in a letter to the Lead Issuing House, Vetiva Advisory Services Limited, signed by the Director…

FTSE Russell has announced a major milestone for Nigerian capital markets: the reclassification of Nigeria from “Unclassified” back to “Frontier Market” status, effective September 21, 2026. The move restores the West African nation to global index tracking benchmarks following a three-year hiatus prompted by foreign exchange liquidity bottlenecks in 2023.  As part of the transition, FTSE Russell unveiled 10 Nigerian…

Uber has announced the closure of its operations in Nigeria, saying it will discontinue its ride-hailing services in the country effective Wednesday, September 2, 2026. The company communicated the decision to its drivers in a notice on Wednesday, informing them that they would no longer receive requests for trips through the Uber app from the effective date. Uber said the…

The Securities and Exchange Commission (SEC) has proposed a new regulatory framework for online foreign exchange trading and Contracts for Difference (CFDs), setting minimum capital requirements of up to N5 billion for operators seeking to participate in retail market. The proposed rules, issued under the Investments and Securities Act (ISA) No. 2, 2025, are contained in the draft Rules on…

Nigerian Exchange Limited (NGX) ended August on a positive note, with the All-Share Index (ASI) gaining 1.20 per cent on the final trading day to close the month with a year-to-date return of 56.93 per cent, despite profit-taking and portfolio rebalancing that characterised trading during the period. The strong finish moderated the month’s decline to about 0.44 per cent, leaving…

By Olatomiwa Osho SORA won the fourth Nigerian Communications Commission (NCC) Hackathon Live Show 2026, securing the N3 million grand prize for its inclusive technology solution for persons with disabilities. Clear Signal and IKOR placed second and third, winning N2 million and N1 million, respectively, at the two-day competition themed “Technology Without Barriers.” The event brought together 20 teams to…

By Olatomiwa Osho The Lagos State Employment Trust Fund (LSETF) and Ojodu Local Council Development Area (LCDA) have strengthened their partnership to expand access to business support, financing and employment opportunities for residents. The renewed collaboration was highlighted during the handover of a newly furnished LSETF Liaison Office at the Ojodu LCDA Secretariat. Speaking at the ceremony, LSETF Director of…

Ibom Air has dismissed claims that it exercises a monopoly over operations at the Victor Attah International Airport, Uyo, or prevents other airlines from operating from the airport. The airline, in a statement issued on Sunday, said it had no authority or regulatory power to prevent another carrier from operating from Uyo or any other airport in Nigeria. Ibom Air…