New Post Africa

Category: Business

  • Nigeria opens applications for second cohort of National TVET Programme

    Nigeria opens applications for second cohort of National TVET Programme

    ABUJA, Nigeria, 13 April 2026 (NPA) — The Federal Ministry of Education has announced the opening of applications for the second cohort of the National Technical and Vocational Education and Training (TVET) Programme, a flagship initiative under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

    The application portal opens today at 4:00 PM (WAT), offering Nigerians an opportunity to acquire practical skills for employment and entrepreneurship. Last year, more than 1.3 million Nigerians applied, underscoring the growing demand for vocational training and its impact on livelihoods and the economy.

    The programme, delivered through certified training centers nationwide, provides tuition-free training, monthly stipends, and start-up support in trades across high-demand sectors. It aims to close Nigeria’s skills gap, empower youth for self-reliance, create a pipeline of skilled workers for industries, and promote national development through vocational excellence.

    Applicants can choose between two flexible tracks:

    • Short-Term Certificate (STC) Programme — Six months, designed for first-time trainees, school leavers, or individuals without formal education. Requirements include a valid National Identification Number (NIN) and Bank Verification Number (BVN).
    • Vocational Education & Innovation (VEI) Programme — One year, tailored for individuals with some education or informal training experience. Entry requires either Recognition of Prior Learning (RPL), a First School Leaving Certificate (FSLC), or any non-formal education certificate.

    Officials emphasized that the initiative is central to building human capital and driving inclusive economic growth. “With TVET, you can build your own future,” the Ministry said in its release.

  • NERC issues order on reporting regional electricity transmission loss factors

    NERC issues order on reporting regional electricity transmission loss factors

    ABUJA, Nigeria, 13 April 2026 (NPA) — The Nigerian Electricity Regulatory Commission (NERC) has issued Order No. NERC/2026/026 to strengthen transparency and efficiency in the country’s power grid through enhanced reporting of Regional Transmission Loss Factors (TLF).

    Data from the Nigerian Independent System Operator (NISO) show that the national average TLF dropped from 8.71% in 2024 to 7.24% in 2025, but still exceeds the 7% benchmark approved by NERC under the Multi-Year Tariff Order (MYTO). The new Order, dated 8 April 2026, establishes a formal framework for reporting transmission losses across regions operated by the Transmission Company of Nigeria (TCN).

    Effective from 13 April 2026, the directive is backed by the Electricity Act 2023, which empowers NERC to regulate, monitor, and ensure efficiency in the electricity market. Key provisions include:

    • NISO to install smart meters at all boundary regional interconnection points by December 2026 to accurately measure energy flows.
    • NISO to measure and document all energy flow of power transformers at transmission substations.
    • NISO to file quarterly regional TLF reports to NERC.
    • TCN to submit an action plan by July 2026 to reduce TLF to within the 7% benchmark.
    • TCN to ensure TLF across transmission regions does not exceed 6.5% by December 2026.

    NERC stated that the Order is designed to strengthen accountability in transmission operations and support improved grid performance through structured loss reporting.

  • Elon Musk accuses South Africa of blocking Starlink license

    Elon Musk accuses South Africa of blocking Starlink license

    INTERNATIONAL, 12 April 2026 (NPA) — Elon Musk, founder and CEO of SpaceX and Tesla, has accused his country of birth, South Africa, of denying Starlink a license to operate, alleging corruption and racial discrimination in the process.

    In a post on his X account, the word’s richest man claimed that South African regulators refused to grant Starlink approval “simply because I am not Black.” He alleged that officials repeatedly offered Starlink the chance to secure a license by bribing or misrepresenting its ownership structure to appear Black‑run, but said he refused to comply “on principle.” 

    Musk added: “Racism should not be rewarded, no matter to which race it is applied. Shame on the racist politicians in South Africa. They should be shown no respect whatsoever anywhere in the world.”

    The South African government has defended its position, citing the Black Economic Empowerment (BEE) framework, which requires local participation in telecommunications licensing. Officials argue that the rules are designed to ensure equity and inclusion in the economy. The confrontation escalated after Musk publicly attacked Clayson Monyela, head of public diplomacy, accusing him of racism for defending the regulatory framework.

    The dispute carries wider implications: without approval, Starlink cannot legally operate in South Africa, limiting its expansion in a market where rural connectivity is urgently needed. Musk’s accusations have sparked debate over whether South Africa’s equity policies discourage foreign investment, while his public attacks risk straining diplomatic relations. The government insists its rules are necessary for fairness, but Musk’s claims have turned the issue into a global controversy over governance, inclusion, and the balance between attracting technology investment and enforcing local participation laws.

  • Gateway Air begins operations with ₦100,000 flights to major cities

    Gateway Air begins operations with ₦100,000 flights to major cities

    OGUN, Nigeria, 11 April 2026 (NPA) — Gateway Air, the newly launched Ogun State‑owned airline, has announced the commencement of scheduled flight operations connecting key cities across Nigeria, with economy fares starting at ₦100,000.

    In a statement issued at the weekend by Hon. Kayode Akinmade, Special Adviser on Information and Strategy to Governor Dapo Abiodun, the airline confirmed that flights will begin on Monday, 13 April 2026.

    The routes include: Iperu to Abuja, Abuja to Port Harcourt, Abuja to Calabar, Abuja to Jos, and Iperu to Kano.

    Flights will operate on Mondays, Tuesdays, Wednesdays, and Fridays, offering passengers reliable and convenient travel options.

    Gateway Air emphasised that the new services are part of its commitment to enhancing connectivity, improving regional accessibility, and supporting economic growth through efficient air travel.

    Passengers are encouraged to make early bookings and follow the airline’s official communication channels for updates on schedules and further information.

    The airline reaffirmed its dedication to providing safe, customer‑focused services, positioning itself as a key player in Nigeria’s aviation sector.

  • Nigeria’s NNPC launches Cawthorne Crude onto global market

    Nigeria’s NNPC launches Cawthorne Crude onto global market

    ABUJA, Nigeria, 11 April 2026 (NPA) — The Nigerian National Petroleum Company (NNPC) Limited has commenced export of its new crude grade, Cawthorne, marking a significant milestone in Nigeria’s drive to boost crude oil production and diversify its export portfolio.

    Cawthorne blend crude, the latest addition to Nigeria’s basket of grades, has an API gravity of 36.4, placing it firmly within the light, sweet category. Comparable to Bonny Light, it is highly valued internationally for its superior petrol and diesel yields.

    NNPC Ltd confirmed that on 5 April 2026, the maiden cargo of 950,000 barrels was loaded onto the MT Eburones vessel via the Cawthorne Floating Storage and Offloading (FSO) facility offshore Bonny, Rivers State, and shipped to the Netherlands. The FSO enhances crude evacuation from OML 18, strengthening Nigeria’s export reliability, operational efficiency, and energy security.

    According to a statement signed by Andy Odeh, Chief Corporate Communications Officer, the launch of Cawthorne underscores NNPC Ltd’s deliberate strategy to unlock value from its asset base, deepen competitiveness, and support the Presidential mandate of scaling crude oil production to three million barrels per day and gas output to 12 billion cubic feet per day by 2030.

    Group Chief Executive Officer Engr. Bashir Bayo Ojulari commended President Bola Ahmed Tinubu’s policy direction and sector reforms, as well as the collaboration of OML 18 partners, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), and other stakeholders. He stressed that NNPC Ltd remains focused on disciplined execution, innovation, and partnerships to ensure sustainable growth and energy security.

    Ojulari added: “This milestone reflects the direction we have set for NNPC Limited — one anchored on execution, partnership, and value creation. We are moving decisively from resource potential to resource monetisation, ensuring that every asset delivers measurable commercial outcomes.”

    The successful export of Cawthorne follows recent additions such as Nembe and Utapate, reinforcing Nigeria’s position as a reliable global energy supplier. NNPC Ltd pledged to continue leveraging innovation and strategic partnerships to unlock the full value of Nigeria’s hydrocarbon resources while safeguarding long‑term energy security and economic growth.

  • TCN announces planned power outage in Uyo, Eket, Ekim, and Ibom Power over planned maintenance 

    TCN announces planned power outage in Uyo, Eket, Ekim, and Ibom Power over planned maintenance 

    ABUJA, Nigeria, 11 April 2026 (NPA) — The Transmission Company of Nigeria (TCN) has announced a planned maintenance exercise on the Uyo/Itu 132kV Transmission Line.

    According to a statement signed by Ndidi Mbah, General Manager, Public Affairs, the outage will run daily from 8 a.m. to 5 p.m. for fourteen days, spread across three days each week, beginning on 9 April 2026 at 2:05 p.m. The exercise is to enable contractors to string the Optical Ground Wire (OPGW) along the line. Once completed, the project is expected to boost wheeling capacity, reduce frequent outages, and enhance overall system stability.

    TCN confirmed that contractors are already on-site working to ensure the bulk power supply is restored as quickly as possible.

    As a result, the Port Harcourt Electricity Distribution Company (PHEDC) will be unable to off‑take power supply to customers in Uyo, Eket, Ekim, and Ibom Power during the outage period.

    TCN apologised for the inconvenience to electricity consumers in the affected areas and assured that every effort is being made to complete the exercise within the stipulated timeframe.

  • Nigerian equities close bullish as ASI gains 0.54%

    Nigerian equities close bullish as ASI gains 0.54%

    LAGOS, Nigeria, 10 April 2026 (NPA) — The Nigerian Exchange (NGX) closed bullish on Friday as the All‑Share Index (ASI) rose by 0.54% to 203,770.43 points. Market capitalisation of listed equities also advanced by 0.54%, closing at ₦131.16 trillion.

    Fixed income securities recorded growth, with market capitalisation rising to ₦48.71 trillion, while Exchange‑Traded Products (ETPs) dipped to ₦136.33 billion.

    Top gainers included TRANEX (+9.91% to ₦3.77), Chams (+9.84% to ₦3.35), Guinness Nigeria (+9.38% to ₦462.90), and another stock surging +36.30% to ₦115.86. These strong performances helped lift overall market sentiment.

  • NNPC reports oil production growth following pipeline security measures

    NNPC reports oil production growth following pipeline security measures

    ABUJA, Nigeria, 10 April 2026 (NPA) — The Nigerian National Petroleum Company Limited (NNPC) says national crude oil production has rebounded significantly, rising from a historic low of 960,000 barrels per day in 2022 to an average of 1.71 million barrels per day, with a peak of 1.84 million barrels per day in 2025. The growth is attributed to the integrated energy security framework for pipelines in the Niger Delta.

    According to a statement by Chief Corporate Communications Officer Andy Odeh, Group Chief Executive Officer Engr. Bashir Bayo Ojulari disclosed the figures at the Parliamentary Roundtable on Pipeline Security held at the National Assembly on 8 April.

    Ojulari said the success was achieved through an “integrated energy security model” combining legislative and executive policy alignment, actionable intelligence, kinetic deployment, regulatory oversight, industry cooperation, and community‑based surveillance. He noted that tackling oil theft and pipeline sabotage has restored investor confidence in Nigeria’s oil and gas sector.

    In his address, Senate President Godswill Akpabio, represented by Senator Jimoh Ibrahim, called for stronger collaboration among agencies and stakeholders to sustain production growth. Speaker of the House of Representatives, represented by House Leader Hon. (Prof.) Julius Ihonvbere, urged the forum to evaluate progress to ensure fairness and equity.

    The roundtable was convened by the Joint Senate and House Committees on Petroleum Resources and attended by the Senate President, the Speaker, the National Security Adviser, the Minister of Defence, and representatives of regulatory agencies. Presentations were also delivered by the Chief of Defence Staff, Inspector General of Police, Director‑General of the Department of State Services, Commandant‑General of the Nigerian Security and Civil Defence Corps, and private security companies.

  • Afreximbank posts US$1.2 billion profit as assets hit US$48.5 billion

    Afreximbank posts US$1.2 billion profit as assets hit US$48.5 billion

    CAIRO, Egypt, 10 April 2026 (NPA) — The African Export‑Import Bank (Afreximbank) and its subsidiaries have reported a net profit of US$1.2 billion for the year ended 31 December 2025, underscoring sustained resilience, market confidence and strategic execution.

    Total assets and contingencies grew by 21% to US$48.5 billion, up from US$40.1 billion in 2024, while net loans and advances rose 16% to US$33.5 billion, driven by disbursements across Africa and the Caribbean in manufacturing, infrastructure, food security and climate adaptation.

    The Group’s non‑performing loan ratio remained stable at 2.43%, with liquidity strengthened by cash and equivalents of US$6.0 billion, representing 14% of total assets. Shareholders’ funds increased by 17% to US$8.4 billion, supported by net income and new equity inflows of US$299.4 million under the General Capital Increase II.

    Gross income rose by 6% to US$3.5 billion, while operating expenses climbed to US$459.2 million, reflecting staff expansion and inflationary pressures. Despite this, the cost‑to‑income ratio stood at 21%, well below the strategic ceiling of 30%.

    In 2025, Afreximbank successfully raised over US$800 million from Japan and China through Samurai and Panda bonds, demonstrating its fundraising capacity and reinforcing its role as a pan‑African multilateral financial institution.

    The Bank said the results were achieved through expanded delivery of tailored financial and advisory solutions that supported trade, fostered industrialisation and enhanced economic self‑reliance across the continent.

  • Federal Government to deliver 480MW Abeokuta substation by December

    Federal Government to deliver 480MW Abeokuta substation by December

    ABUJA, Nigeria, 9 April 2026 (Agency Report) — The Federal Government has announced that the new 480‑megawatt Abeokuta substation under construction in Ogun State will be completed and inaugurated by December.

    Managing Director and Chief Executive Officer of FGN Power Company, Mr Kenny Anuwe, gave the assurance on Thursday during an inspection of the project at Toolu community in Obafemi Owode Local Government Area. He reaffirmed the government’s commitment to improving the electricity supply nationwide, noting that President Bola Tinubu’s administration is investing heavily in power infrastructure to address longstanding challenges.

    Anuwe disclosed that resources have been committed to upgrading five brownfield substations in Abeokuta, Ayede, Offa, Onitsha and Sokoto under Phase One, expected to add about 986 megawatts to the national grid. He added that over 1,000 megawatts have already been injected through mobile substations and transformers under the Presidential Power Initiative.

    “The new facility, which complements the existing substation, will add 480 megawatts to the grid and improve electricity supply across the state. Civil works will be completed between June and July, followed by electrical installations, with commissioning scheduled for December,” Anuwe said. He commended President Tinubu for providing resources and urged contractors to sustain momentum.

    Chief Technical Officer of FGN Power Company, Mr Ebenezer Fapounda, explained that the project would upgrade capacity from 132kV to 330kV, reducing load shedding and addressing supply shortfalls from Ikeja West to Ogun.

    Project Manager for Siemens Energy, Mr Yusuf Mayhaja, assured that work is progressing as planned, while Project Director Mr Eli Akiki expressed confidence in timely completion, stressing that the company remains committed to delivering and inaugurating the substation before the end of 2026.