Business

Minister of Marine and Blue Economy, Adegboyega Oyetola, announced the directive on Thursday as the government moves to implement a new regulatory framework for the nation’s maritime sector.

A public announcement issued to customers on Thursday, September 3, said the outage was necessary to enable TCN’s technical team to safely execute critical work at the transmission facility.

Over the past three years, several startups that attracted investors, built customer bases and, in some cases, raised millions of dollars have shut down after running into funding, market, regulatory, operational or profitability problems.

Ruto announced the directive during an address to small-scale traders at State House in Nairobi, saying foreigners engaged in such businesses should shut them down from next week.

Dangote said the ongoing fiscal, monetary and regulatory reforms had contributed to improved macroeconomic stability, stronger investor confidence, increased industrial productivity and a more resilient business environment.

The framework comes as Nigeria continues to face a major electricity access deficit, unreliable supply and a liquidity crisis that has constrained investment across the sector.

The Nigerian National Petroleum Company Limited has said the Obiafu-Obrikom-Oben (OB3) gas pipeline is ready for first gas, marking a major milestone in the development of Nigeria’s gas transmission infrastructure.

Uber has become the latest major international company to leave Nigeria, ending 12 years of operations in the country on September 2, 2026.

The figures were contained in the midstream and downstream statistics for July 2026 released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

The Nigerian Exchange closed Wednesday’s session marginally lower, with the All-Share Index declining 63.46 points from 246,082.63 at the open to 246,019.17 at the close.