Inside Business Africa - Business News, Economic Insight, African Corporate Stories.

Nov22026 by info@insidebusinessafricang.comNo Comments

Sanwo-Olu flags rising Ikeja housing cost

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The Lagos State Governor, Babajide Sanwo-Olu, has stated that the average cost of land in Ikeja is slightly above N3m per square metre, making it difficult for low-income earners to live around that environment. Sanwo-Olu stated this during his acceptance speech after his investiture as an Honorary Fellow of the Nigerian Institute of Town Planners at the 57th Annual Conference and Annual General Meeting held in Ikeja, according to a statement. The governor, who was represented at the event by the Lagos State Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, added that his administration had invested very aggressively in rail transportation so that people could live in Agbado and commute daily to the central area of Lagos. “The average cost of land in I...

Nov22026 by info@insidebusinessafricang.comNo Comments

Oando Production Hits 42,985 Barrels Of Oil Equivalent A Day As Revenue Grows 9% In 9 Months Of 2026

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Oando Plc, has published its unaudited results for the nine months ended 30 September 2026. The Group recorded a 9 per cent increase in revenue to ₦2.78 trillion, reflecting higher crude oil liftings, increased gas and Natural Gas Liquids (NGL) sale volumes, and improved average realised prices. Operating performance also strengthened, with the Group moving from an operating loss of ₦109.7 billion in 9M 2025 to an operating profit of ₦159.7 billion in 9M 2026.Gross profit increased by 483 pe4 cent to ₦174.5 billion, compared with ₦29.8 billion in the corresponding period of 2025, reflecting improved production efficiency with a reported facility uptime of 96.1 per cent compared to 85 per cent.Commenting on the results, Wale Tinubu CON, Group Chief Executive of Oando PLC, said: “Our perform...

Nov22026 by info@insidebusinessafricang.comNo Comments

Experts Seek Audit Of NIMASA Account As Controversy Deepens Over $360m Shipowners Fund’s Status

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The controversy surrounding the management and currency status of the $360 million Cabotage Vessel Financing Fund (CVFF) has deepened, with maritime industry experts calling for a comprehensive audit of the accounts of the Nigerian Maritime Administration and Safety Agency (NIMASA) from 2004 to date to establish the actual status of the fund. The call for an audit followed conflicting accounts by a former director-general of NIMASA, Temisan Omatseye, and the incumbent director-general, Dr Dayo Mobereola, over whether the dollar-denominated contributions to the fund were converted into naira or retained in United States dollars. While Omatseye maintained that the dollar funds were converted into naira and placed in fixed deposits during his tenure, Mobereola has insisted that the doll...

Nov22026 by info@insidebusinessafricang.comNo Comments

Stakeholders Call For Collective Action To Protect Nigeria’s Environment

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Stakeholders in the environmental sector have warned that environmental degradation, poor housing and unsustainable development practices threaten public health, food security and Nigeria’s sustainable development. They called for stronger environmental policies, responsible management of natural resources and greater collaboration among government, businesses, researchers and communities to protect the environment for future generations. The stakeholders made the call at the public presentation of a book titled: “People, Nature and Environment: Pathways to Sustainable Development,” authored by an environmentalist and researcher, Dr Abba Maigida. Speaking at the event, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, represented by Mr Taiwo Ojelabi, sai...

Nov22026 by info@insidebusinessafricang.comNo Comments

High Building Material Prices: HDAN Urges National Assembly Intervention

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The Housing Development Advocacy Network (HDAN) has called on the National Assembly to intervene urgently in the rising cost of building materials, warning that continued price increases are pushing homeownership beyond the reach of millions of Nigerians. In a policy research report titled Reducing the High Cost of Building Materials in Nigeria and Across Africa: Towards Affordable Housing, Stronger Local Manufacturing and Sustainable Construction, HDAN urged federal lawmakers to work with the executive branch to introduce a 100-day emergency action plan to address construction costs. The organisation said the plan should include a nationwide review of the prices of cement, reinforcement steel, roofing sheets, tiles, glass, electrical fittings and plumbing materials. It also called f...

Nov22026 by info@insidebusinessafricang.comNo Comments

Nigeria moves against global fraud networks through UK partnership

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Gabi Hibbatullah, Abuja Nigeria has reaffirmed its commitment to strengthening international cooperation in the fight against cybercrime and digital-enabled criminal activities, describing the challenge as a critical national security and economic priority. A Nigerian delegation made this commitment at the recent Fraud Joint Disruptions Week event in the United Kingdom (UK), where it highlighted the country’s efforts to strengthen law enforcement capacity, improve digital forensic investigations and deepen collaboration with international partners and technology companies. The delegation comprised officials of the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) and the Joint Case Team on Cybercrime (JCTC), established under the Office of the Attorney-General of the F...

Nov22026 by info@insidebusinessafricang.comNo Comments

Experts Hail $5bn Africa Energy Bank As Bold Start, Urge Greater Capital Mobilisation

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Energy-sector experts have hailed the $5 billion Africa Energy Bank (AEB), as a bold start towards addressing Africa’s energy financing needs, but cautioned that it cannot single-handedly close the continent’s estimated $200 billion investment gap. They urged greater capital mobilisation from governments and private investors to expand the bank’s impact across Africa’s energy sector. The AEB has formally begun operations, four years after African petroleum ministers first approved its creation, with Egyptian banker Helmy Ghazi appointed as its pioneer president. The launch was announced in Abuja on Saturday by the African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organisation (APPO). The bank’s establishment marks a major step in Africa’s effort to b...

Nov22026 by info@insidebusinessafricang.comNo Comments

Tinubu Says Debt Settlement Has Restored Confidence In Power Sector

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President Bola Tinubu has said the settlement of legacy financial obligations in Nigeria’s electricity sector is helping to restore confidence among key stakeholders and strengthen the foundation for a more stable power market. The President made the remarks while felicitating the managing director and chief executive officer of the Nigeria Bulk Electricity Trading Plc (NBET), Akin Odeyemi, on his birthday, October 31, and commending his role in implementing the Presidential Power Sector Debt Reduction Programme. Tinubu said the successful issuance and signing of N728.979 billion Series 2 Bonds under the N4 trillion Power Sector Multi-Instrument Issuance Programme had enabled NBET to settle participating Generation Companies (GenCos) and their associated gas companies. According t...

Oct282026 by info@insidebusinessafricang.comNo Comments

PMI and TIME Studios Highlight the Projects Successfully Delivering Climate Solutions at Scale

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Menaka Gopinath TIME Studios and Project Management Institute (PMI), the world’s leading authority for project professionals, have announced Season 2 of The Solutionaries, a documentary series about the project success behind climate solutions that scale and what it takes to move from a solution that works once to one that works everywhere. All three episodes are available on TIME.com. The series follows the innovators and the project leaders working to validate each solution, prepare it for real-world conditions, and build the operations to deliver it. Season 2 features Adam Gardner and Lauren Sullivan of REVERB, Alisha Fredriksson of Seabound, and Kate Kallot of Amini. Together, their work across music, maritime decarbonisation, and artificial intelligence is addressing urgent glob...

Oct282026 by info@insidebusinessafricang.comNo Comments

Ebola Alert: Taraba Orders Health Facilities To Report Suspected Cases

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The Taraba State Government has directed public and private health facilities to immediately report suspected Ebola cases, following reports of an Ebola case in Abuja, as the state steps up surveillance and prepares to introduce fever screening at its airport. The Commissioner for Health, Dr Bordiya Gbansheya Buma, who announced the measures, said the government was strengthening its preparedness in collaboration with the Federal Ministry of Health, the Nigeria Centre for Disease Control and Prevention (NCDC) and other relevant authorities. Dr Buma directed all public and private healthcare facilities across the state to remain on high alert and immediately report suspected cases to the Ministry of Health. He also disclosed plans to train healthcare workers and intensify public aw...