New Post Africa

Category: Business

  • Governor Umo Eno inspects Victor Attah Airport upgrade, driving Uyo toward West Africa’s emerging aviation hub

    Governor Umo Eno inspects Victor Attah Airport upgrade, driving Uyo toward West Africa’s emerging aviation hub

    UYO, NIGERIA (NPA) — March 24, 2026 — Pastor Umo Eno, Governor of Akwa Ibom State in Southern Nigeria, has inspected the ongoing remodelling and upgrade works at the Victor Attah International Airport, which is being prepared to commence international flight operations.

    Following the tour, Governor Eno expressed satisfaction with the steady progress achieved by the contractors. He noted: “We are putting all critical requirements of the Nigeria Civil Aviation Authority in place to ensure a smooth and successful take-off. While a few gaps have been identified, steps are already being taken to address them and fast-track completion.”

    The governor commended the contractors for their diligence and praised the officials of the state-owned airline, Ibom Air, for their strategic contributions. He described the project as a landmark effort in transforming Victor Attah International Airport into a major aviation hub in West Africa.

    Governor Eno further urged the Ibom Air team to continue deploying their expertise as the state works toward positioning the airport as a regional aviation powerhouse, emphasising that the benefits will extend beyond Akwa Ibom to the wider subregion.

  • EU announces €288m grant to Nigeria’s healthcare, agriculture, and digital sectors

    EU announces €288m grant to Nigeria’s healthcare, agriculture, and digital sectors

    ABUJA, NIGERIA (Agency Report) — March 24, 2026 — The European Union (EU) delegation to Nigeria and ECOWAS has announced €288 million in support for Nigeria’s healthcare, agriculture, finance, migration, climate, and digital public infrastructure sectors.

    The announcement was made at the EU-Nigeria Ministerial Conference in Abuja under the EU-Nigeria Partnership. Stefano Signore, Director-General for International Partnerships at the European Commission, said the project represents accelerated investment under the EU’s Global Gateway Strategy. He noted that health and agriculture are priorities, aimed at improving standards, infrastructure, local manufacturing, and inclusion. He also emphasised stronger cooperation on sustainable migration, providing better life options for returnee migrants.

    Minister of Budget and Economic Planning, Abubakar Bagudu, said the initiative builds on the 2023 EU-Nigeria Strategic Dialogue, which launched the EU’s Global Gateway Strategy in Nigeria. Bagudu described the partnership as a deepening of ties anchored on mutual respect, shared prosperity, and sustainable investment. Represented by Minister of State Doris Anite-Uzoka, he highlighted reforms under President Bola Tinubu to stabilise the economy, strengthen fiscal sustainability, and create an enabling environment for private-sector growth.

    Bank of Industry (BoI) CEO Olasupo Olusi said the partnership with the European Investment Bank channels long-term financing into healthcare and agriculture, central to Tinubu’s agenda for resilience and inclusive growth. Finland’s Under Secretary of State for Foreign Trade, Jarno Syrjaia, announced Finland’s lead role in strengthening Nigeria’s digital public services and training three million technical talents. Finland’s HAUS and Estonia’s ESTDEV will implement the initiative, bringing European expertise in digital government and innovation.

    Uche Amaonwu, Country Director of the Gates Foundation, stressed the importance of supporting health manufacturing. He praised the BoI and PVAC for mobilising financing facilities to meet the needs of Nigerian health manufacturers.

    Breakdown of the €288m package includes: €23m for digital infrastructure, €108m in grants and loans to government, €50m for healthcare manufacturing, €5m for health and nutrition training, €85m for agribusiness lending, €1m for climate/agriculture expertise, and €16m for migration governance.

    The initiative underscores a modern partnership focused on shared prosperity, sustainable investment, and resilience.

  • Rising debt forces 3.4 billion to spend more on loans than health or education

    Rising debt forces 3.4 billion to spend more on loans than health or education

    INTERNATIONAL (NPA) — March 23, 2026 — Calls for a fundamental shift in global economic governance dominated discussions at the Impact Exchange in Geneva, Switzerland, where representatives from nearly 90 Member States, UN agencies, civil society, and experts gathered to advance a “Human Rights Economy.”

    The event, organised by UN Human Rights and the Universal Rights Group with support from the Friedrich Naumann Foundation, came amid warnings of rising inequality, surging debt, and austerity measures that could affect 85 per cent of the world’s population. “Austerity could slash investments in social protection, health, education, and the environment,” cautioned Nada Al‑Nashif, UN Deputy High Commissioner for Human Rights.

    Speakers stressed that economic growth without access to healthcare, education, clean water, decent work, and a healthy environment risks deepening divides. The Human Rights Economy framework, they argued, prioritises people and the planet in fiscal choices, moving beyond GDP as the sole measure of progress.

    Claudia Fuentes Julio, Chile’s Permanent Representative and Vice President of the Human Rights Council, underscored how inequality erodes social cohesion and urged innovative strategies to strengthen democracies. Chile’s reforms include a universal guaranteed pension, free public health services, and gender‑responsive budgeting.

    From The Gambia, Cherno Marenah highlighted people‑centred budgeting and the removal of VAT on sanitary products, while Jawad Ali of Pakistan emphasised constitutional commitments to uplift marginalised communities. Spain’s representative, Miryam Naveiras, pointed to progressive taxation and the Sevilla Declaration as a roadmap for debt relief and climate‑sensitive economic planning.

    South Africa’s Mxolisi Nkosi called for a fairer global financial architecture, stressing that development is a right, not a privilege. Portugal and Malaysia echoed the need for reforms in taxation, trade, and education, while civil society voices urged the adoption of metrics that reflect well‑being, equality, and sustainability.

    Throughout the Exchange, participants agreed that even in tight fiscal times, progress is possible when human rights guide economic choices. OHCHR announced the expansion of its ESCR Knowledge Hub, showcasing promising practices from 2020–2024 to help countries operationalise the Human Rights Economy.

    The message was clear: systemic reform rooted in human rights is essential to confront inequality and achieve the 2030 Agenda.

  • Governor Mbah showcases Enugu’s investment potential to UK investors

    Governor Mbah showcases Enugu’s investment potential to UK investors

    LAGOS, NIGERIA (NPA) — March 23, 2026 — The Governor of Enugu State, Dr Peter Ndubuisi Mbah, has unveiled the state’s vast and profitable investment opportunities to investors in the United Kingdom.

    Highlighting sectors such as energy, infrastructure, healthcare, agriculture, technology, education, housing, and tourism, Mbah emphasised that “Enugu is open for business” under his administration’s “Tomorrow is Here” agenda. He noted that the state is building a private sector-driven economy anchored on ease of doing business, infrastructure expansion, and strong institutional frameworks that protect investments.

    Speaking at the UK–Nigeria Project Agglomeration Compact Dinner held at the House of Lords, London, on the sidelines of President Tinubu’s state visit, Mbah described the engagement as a platform to present Enugu as a credible investment destination. The session was convened by Mutandis Africa.

    “We highlighted our ongoing reforms and a strong pipeline of bankable opportunities across key sectors,” Mbah said, reaffirming his administration’s commitment to sustainable growth.

    Since assuming office, Governor Mbah has pursued ambitious projects, including the Enugu Air project, smart schools, innovation hubs, and infrastructure expansion. In February 2025, he commissioned a $20 million Haier Group factory in Enugu, underscoring his drive for industrialisation.

    Mbah’s broader vision is to transform Enugu into a leading hub for business, tourism, and quality living, with a target of raising the state’s Gross Domestic Product (GDP) from $4.4 billion to at least $30 billion within 4 to 8 years.

  • SASSA releases 2026/27 social grant payment dates

    SASSA releases 2026/27 social grant payment dates

    AFRICA (NPA) — March 23, 2026 — The South African Social Security Agency (SASSA) has released the official payment schedule for social grants for the 2026/2027 financial year, giving beneficiaries clarity on when to expect monthly payments.

    In a statement on Monday, the agency said the schedule follows approval by the National Treasury on March 20. For April, older persons will be paid on 2 April, disability grant beneficiaries on 7 April, and children’s grant recipients on 8 April. In May, older persons will receive grants on 5 May, disability grants on 6 May, and children’s grants on 7 May.

    “The principle for determining payment dates is to ensure grants are paid early in the month, staggered over three days. In most months, the old age grant is paid on the 2nd, disability on the 3rd, and children’s grants on the 4th,” SASSA said.

    To ensure smooth functioning of the National Payment System, the agency avoids payments on the 1st of the month, Mondays, weekends, or directly after holidays. If a date falls on a weekend or public holiday, payment will move to the next working day.

    As announced by the Minister of Finance in his Budget Speech, social grants will increase from April:

    • Older Persons, Disability, and Care Dependency Grants rise by R80 to R2,400.
    • War Veterans Grant rises by R80 to R2,420.
    • Foster Child Grant rises by R40 to R1,290.
    • Child Support Grant and Grant-In-Aid rise by R20 to R580.

    SASSA reiterated its commitment to timely payments and urged beneficiaries who experience delays to visit their nearest local office for assistance. Full payment dates are available on the agency’s website. – SAnews.gov.za.

  • Sanwo-Olu seals deal to revolutionize digital learning in Lagos schools

    Sanwo-Olu seals deal to revolutionize digital learning in Lagos schools

    LAGOS, NIGERIA (NPA) — March 23, 2026 — Lagos State Governor Babajide Sanwo-Olu has announced a groundbreaking development: the state has signed a Memorandum of Understanding with Estar, an organization specializing in digital learning, to introduce modern platforms and infrastructure into public primary and secondary schools.

    According to the governor, the partnership will provide Lagos students with curriculum-based tools designed to strengthen critical thinking, communication, decision-making, leadership, and AI skills. It will also enhance reading, comprehension, confidence, and classroom participation.

    With the agreement now in motion, the state has begun investing in teacher training to ensure educators can effectively use the new tools and deliver more engaging lessons. The initiative is aimed at preparing students for the future while improving learning outcomes across the board.

    The introduction of these advanced learning and teaching aids marks another first for Lagos State, which continues to lead in innovation and the application of technology to social and economic development in Nigeria.

  • Tinubu: Nigeria’s creative economy key to growth and global competitiveness

    Tinubu: Nigeria’s creative economy key to growth and global competitiveness

    LAGOS, NIGERIA (Agency Report) — March 23, 2026 — President Bola Tinubu has emphasised Nigeria’s creative industry as a strategic driver of economic growth and global competitiveness, urging stronger investment and collaboration to unlock its full potential.

    In a statement made available to the News Agency of Nigeria (NAN) in Lagos, Tinubu was quoted as saying this on Thursday at the “Nigerian Modernism” exhibition at the Tate Modern, London. The event formed part of engagements concluding his official visit to the United Kingdom.

    He noted that the sector requires sustained partnerships between government, the private sector, and international stakeholders to expand access to funding, strengthen market structures, and enhance global visibility for Nigerian creatives. Tinubu described the exhibition as “a testament to a revolution.”

    Reflecting on the bold generation of Nigerian artists who, in the mid-20th century, redefined their narrative beyond colonial constructs, Tinubu said: “It is a profound honour to stand here… to witness the soul of Nigeria on display. What we see here is people who have taken the best of global techniques and infused them with the enduring rhythms of our heritage.”

    He added that the works on display demonstrate how Nigerian artists blend global techniques with indigenous heritage to create a distinct cultural expression. Tinubu said the Federal Government’s Renewed Hope agenda recognises the creative industry as a key driver of economic growth and international engagement. “Our creative industries—art, music, film, and literature—are among our greatest exports. They represent Nigeria’s soft power in an interconnected world,” he further stated.

    Addressing the international audience, Tinubu said the exhibition reflected Nigeria’s resilience and creative strength through periods of transition and nation-building. He urged Nigerians in the diaspora to continue projecting a positive image of the country and contribute to national development. “You come from a lineage of pioneers… the ability to innovate, adapt and lead,” he said.

    The president commended Access Holdings and Coronation Group for supporting the exhibition. “By bringing these works to London, you are not just hosting an exhibition; you are facilitating a vital dialogue between our past and our shared future,” he noted.

    Tinubu reaffirmed the importance of cultural diplomacy, describing art as a unifying force that fosters mutual understanding across borders. “Art has no borders. It is the language of our common humanity,” he added.

    The event, attended by dignitaries including Deputy Prime Minister David Lammy, members of the diplomatic corps, business leaders, and the Nigerian diaspora, marked the symbolic end of the President’s engagements in the UK. (NAN).

  • Edo IRS warns taxpayers to file returns before March 31

    Edo IRS warns taxpayers to file returns before March 31

    BENIN CITY, NIGERIA (News Agency) — March 23, 2026 — The Edo Internal Revenue Service (IRS) has urged taxpayers to file their annual returns before March 31 or face penalties.

    In a statement issued Sunday in Benin, Executive Chairman John Odior described tax filing as a compulsory legal obligation for eligible residents. “Filing your tax returns is a non-optional, statutory, legal and civic obligation,” he said.

    Odior explained that the directive applies to employees, business owners, professionals, online traders, and those in the informal sector. He noted that the agency has introduced an electronic filing system to simplify the process. “With the e-filing platform, taxpayers can complete their obligations from the comfort of their homes or offices,” he added.

    The requirement, he said, is backed by Section 24(f) of the 1999 Constitution and the Nigeria Tax Administration Act 2025. Odior warned that defaulters would face sanctions. “Failure to comply, refusal to file, or submission of incomplete or inaccurate information will attract administrative penalties,” he stated.

    According to him, tax payment is vital to development. “Tax filing is not just a legal requirement; it contributes to Edo’s growth and development,” he emphasised.

    The service advised taxpayers to use its official portal and seek assistance from its offices where necessary.

  • Fuel hike in Nigeria triggers soaring food prices, citizens want FG intervention

    Fuel hike in Nigeria triggers soaring food prices, citizens want FG intervention

    ABUJA, NIGERIA (News Agency) — March 23, 2026 — Prices of food items, goods, and services have sharply increased across markets in the Federal Capital Territory (FCT) and surrounding areas, according to a survey by the News Agency of Nigeria (NAN).

    The NAN study in Abuja on Sunday revealed that the surge in prices is linked to the recent hike in petroleum product pump prices, driven by the ongoing Middle East crisis. The development has strained traders, business owners, and households, with many citizens reporting higher spending on feeding and basic necessities.

    Business owners, traders, and consumers alike lamented the impact of the fuel hike on their livelihoods and called for urgent government intervention to cushion the effects.

    At the Orange Market along the Abuja-Keffi road, a big basket of tomatoes that sold for N9,000–N10,000 in February now costs N30,000–N35,000. A big bag of onions, previously N15,000–N25,000, now sells for N40,000–N45,000. Similar spikes were recorded in Lugbe, Orozo, Karu, Wuse, Utako, Garki, Nyanya, and Apo markets, with yams, beans, peppers, sweet potatoes, and onions all experiencing steep increases.

    The price of sachet water and ice blocks has also risen due to poor electricity supply and reliance on diesel. Distributors now sell a bag of sachet water for N450–N500, up from N300–N350, while ice blocks have jumped from N500 to N800. Small businesses report dwindling profits as they spend heavily on fuel and diesel to power generators.

    Residents expressed frustration at the rising costs of everyday services. Haircuts for children that cost N1,400 weeks ago now cost N3,000, while bakers complain of soaring prices for baking materials. Traders noted that transportation fares for bringing goods from other states have tripled, further driving up market prices.

    Citizens appealed to the Federal Government to urgently address electricity challenges, stabilize fuel supply, and support businesses to ease the burden. Many warned that without intervention, even basic commodities like water could soon become unaffordable for ordinary Nigerians.

  • Osun State to launch Security Trust Fund April 9 amid calls for state policing

    Osun State to launch Security Trust Fund April 9 amid calls for state policing

    OSHOGBO, NIGERIA (NPA) — March 23, 2026 — The much-anticipated launch of the Osun State Security Trust Fund, aimed at strengthening business, security, and safety in the Nigeria’s southwestern state, will take place on April 9, 2026.

    According to information from the state government, investors and businesses thrive where peace and stability are assured, and security remains the foundation of economic growth.

    Governor Ademola Adeleke, in preparation for the launch, emphasised that the state is deliberately reinforcing its security architecture to attract investment, protect lives and property, and drive sustainable prosperity for its people.

    The Osun State Security Trust Fund is a public-private initiative designed to support security agencies with resources needed to keep the state safe. It will provide equipment, operational support, infrastructure, and strategic interventions.

    The launch comes at a time when the creation of state police dominates national security discussions, following perceived shortcomings of centralised policing in addressing pressing challenges such as terrorism and banditry in the north, and the spillover effects of kidnappings and agitations in the south.