Author: Gift Ifeanyi

In a strategic effort to foster a supportive environment for commerce, the Ebonyi State Government has inaugurated the Ebonyi One-Stop-Shop (EBOSS). This centralized hub is specifically designed to significantly improve the ease of doing business by eliminating bureaucratic obstacles that have historically impeded economic growth within the state. The launch event, held at the Staff Development Centre in Abakaliki, saw the Commissioner for Commerce and Industry, Oguzor Offia-Nwali, perform the unveiling on behalf of Governor Francis Nwifuru. Offia-Nwali explained that EBOSS will streamline administrative services for entrepreneurs and investors, including business registration and licensing. He emphasized that the newly approved…

Nigerian billionaire and philanthropist Femi Otedola, estimated by Forbes (November estimate) to possess a personal fortune of $1.6 billion, is far from retirement. The recognizable 63-year-old, who shares the 16th spot on Africa’s richest list with business leaders like South Africa’s Christo Wiese, is now applying his expertise to solve Nigeria’s enduring energy supply crisis, having successfully navigated the volatile domestic fuel market. Mastering the Oil Sector Otedola’s success began with a breakthrough idea after a diesel delivery delay highlighted supply chain inefficiencies. In 2003, he founded Zenon, which strategically acquired stakes in downstream infrastructure, quickly establishing a dominant position…

As part of the #16DaysofActivism against Gender-Based Violence 2025 campaign, UNDP Nigeria has officially opened applications for youth innovators. The agency has issued a nationwide call seeking already tested, operational, and innovative tech solutions designed to prevent, detect, respond to, or monitor digital violence targeting women and girls throughout Nigeria. According to the United Nations Development Programme (UNDP), the objective of this initiative is to “spotlight, support and amplify” a group of technologically skilled, creative, and innovative young change agents who are actively developing gender-responsive concepts to address online abuse. Eligibility for the initiative is aimed at young Nigerian startup…

Hundreds of students, professionals, and government officials converged at Yaba College of Technology (Yabatech) for Youth in Creativity 1.0, a corporate social responsibility (CSR) initiative. The program’s objective was to furnish young Lagos residents with the necessary skills, mentorship, and inspiration to succeed in Nigeria’s rapidly expanding creative economy. Organized by entrepreneur Eziada Folashade Balogun through her Black History & Lifestyle Awards (BHLA) platform, the event featured a diverse range of activities, including workshops, mentorship sessions, panel discussions, and empowerment giveaways. Recognizing creativity as a high-value global skill spanning areas like media, digital content, fashion, design, tech, and storytelling, the…

During the combined 37th and 38th convocation ceremony at Rivers State University (RSU), entrepreneur Dr. Daere Akobo delivered a keynote address that sharply critiqued Nigeria’s current innovation landscape and proposed a path to reform. The lecture, titled “Joint University-Industry Ventures: The Entrepreneurship, Technology, Sustainability and People Nexus for Rivers State University,” urged the academic community to embrace a joint venture model anchored in four key pillars: entrepreneurship, technology, sustainability, and people. Addressing a large gathering of 13,242 graduates and university leaders at the Nkpolu-Oroworukwo campus, Akobo, an RSU Applied Physics alumnus, declared that innovation is essential for the “oversized” country…

Federal authorities, specifically the FBI, have identified Izunna Okonkwo, the 30-year-old co-founder of the tech startup Pastel and a 2023 Forbes 30-under-30 recipient, as a person of interest in a significant financial crime operation. Court documents obtained by Peoples Gazette indicate the scheme involved insider trading and money laundering that generated at least $41 million in illegal profits over a five-year period. Okonkwo, a Stanford graduate, is alleged to have profited from trading various stocks and securities using Material Non-Public Information (MNPI). This confidential data originated with Gyunho Justin Kim, an investment banker at Citibank, who reportedly passed it to…

The Ministry of Education has announced the immediate disbursement of funds for the Technical and Vocational Education and Training (TVET) Initiative, a move intended to bolster Nigeria’s skills-based economy. According to the Minister of Education, Dr. Maruf Tunji Alausa, each participant in the program is now receiving a monthly stipend of ₦22,500 to assist with their personal upkeep and transportation expenses. Additionally, the technical and vocational centers responsible for delivering the instruction and skills training have also received dedicated funding. In a statement released by the Ministry’s Director of Press, Boriowo Folasade, the Minister characterized the prompt financial release as…

Sales and growth specialists have identified a critical pathway for Nigerian small and medium-sized enterprises (SMEs) to overcome current credit constraints and achieve long-term, sustainable growth. Their collective insight, shared at the National Sales & Growth Conference 2025 (organized by Natella Business Academy in Lagos), centered on three core actions: leveraging intrinsic value, prioritizing high-conversion marketing, and deploying robust human resources systems. The conference, themed ‘Unlocking Growth Through Sales Excellence and Business Development,’ highlighted that despite financial pressures, SMEs can still scale if they reinforce their value proposition, adopt marketing that directly translates to action, and establish internal structures that…

The Women in Successful Careers (WISCAR) organization recently concluded its 2025 Annual Leadership and Mentoring Conference, a high-profile event that served to reaffirm the group’s dedication to strengthening female leadership, influencing policy changes, and accelerating national development across Nigeria. The conference, which took place at The Civic Centre in Lagos, focused on the theme “Claiming Our Future: Women in Leadership and Policy Transformation.” It successfully convened a diverse group of key stakeholders, including top government officials, corporate executives, development agencies, civil society groups, and young professionals, all of whom participated in productive discussions and engagements. The stature of the gathering…

In a significant move aimed at stabilizing the nation’s fragile electricity grid and restoring investor confidence, Nigeria’s government has authorized the settlement of $128 million (or 185 billion naira) in historical debts owed to companies supplying gas for power generation. The National Economic Council (NEC), led by the Vice President, formally sanctioned the payout. This action directly follows a mandate issued by President Bola Tinubu to resolve these long-standing arrears. As stated by the Minister of State for Petroleum, Ekperikpe Ekpo, the unpaid bills had severely hampered investment in the energy sector, strained the financial viability of gas producers, and…

The Nigerian singer and renowned humanitarian, Waje, participated in the 6th Nigerian Governors’ Spouses Forum Conference held in Abuja. This important event convened the wives of state governors, key policymakers, international development partners, and social advocates to discuss critical national priorities, including healthcare, education, youth development, social welfare, and women’s empowerment. As a long-time advocate for the rights of women and youth, Waje contributed significantly to the dialogue focused on how societal influencers can shape public culture and foster meaningful, positive change. She stressed that social outcomes are determined not just by official policies and organized programs, but also by…

A significant collaboration has commenced in Benin’s hospitality sector, involving the BusyBee Event Business Summit and the Sofitel Cotonou Marina Hotel & Spa. This partnership is positioned to be a major catalyst for transforming the country’s tourism industry, specifically targeting increased visitor traffic from Nigeria, Togo, and France. This development portends a vibrant future for Benin’s tourism, hospitality infrastructure, and air connectivity. Benin’s New Standard of Luxury The Sofitel Cotonou Marina Hotel & Spa, which opened late in 2024, is Cotonou’s first five-star property and sets a new regional benchmark for luxury. Located in Benin’s economic hub, the hotel features…

For Nigeria, the promise of a unified African market has been both exciting and complex. Five years after joining the African Continental Free Trade Area (AfCFTA), the country is still learning how to turn continental trade potential into practical gains for businesses and the economy. A recent government review offers the first comprehensive look at how Nigeria is faring under the Phase I Protocols, which cover Trade in Goods, Trade in Services, and Dispute Settlement. The report, produced by the Federal Ministry of Industry, Trade and Investment with UNDP support, highlights progress in aligning policies and procedures while also exposing…

Ellah Lakes Plc, a leading Nigerian integrated agricultural company, is set to accelerate its growth with a transformative acquisition and a substantial capital raise aimed at scaling its agro-processing operations. The company plans to acquire Agro-Allied Resources & Processing Nigeria Limited (ARPN), adding 10,400 hectares of uncultivated land and new high-demand crops to its portfolio, positioning itself for significant revenue growth in the coming years. To fund this expansion, Ellah Lakes is simultaneously conducting a N235 billion ($162 million) share offer, which opened on 10 November and is due to close tomorrow, 5 December. The company is offering 18.8 billion…

At the ongoing 14th Practical Nigerian Content (PNC) Forum in Yenagoa, industry leaders highlighted Nigeria’s renewed commitment to leveraging local talent and indigenous enterprises to drive competitiveness and growth in the oil and gas sector. Senior officials stressed that recent reforms and strategic investments are transforming the sector into a hub for efficient project execution, job creation, and industrial expansion. During the forum, a key announcement came from the Bank of Industry (BoI), which revealed its partnership with the Nigeria Content Monitoring and Development Board (NCDMB) through a $100 million Nigerian Content Intervention Fund (NCIF) equity investment scheme. The fund…

In a move set to redefine the entrepreneurial landscape in Nigeria, MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have formalized a strategic partnership designed to unlock growth opportunities for small and medium-sized businesses nationwide. The collaboration aims to equip business owners with the tools, knowledge, and financial access necessary to scale operations and compete in a rapidly evolving market. Central to this initiative is mySMEville, a digital platform crafted to support entrepreneurs in securing funding, expanding into new markets, and leveraging modern digital tools to optimize their operations. The platform serves as a one-stop…

Experts at the 2025 BusinessDay SME Conference and Awards in Lagos have highlighted a shift in Nigeria’s small and medium enterprise (SME) funding landscape, with businesses increasingly turning away from traditional bank loans in favor of innovative, flexible financing solutions. These alternative mechanisms, including crowdfunding, venture capital, credit guarantees, factoring, and government-backed funds, are emerging as critical tools for sustaining growth and boosting competitiveness in a rapidly evolving economy. Speaking at the event themed “Driving Nigeria’s Economy, Empowering SMEs for Global Competitiveness,” Femi Egbesola, national president of the Association of Small Business Owners of Nigeria (ASBON), stressed that these new…

The Nigerian government has unveiled a new initiative to support young entrepreneurs and boost agricultural development, the Finance Minister and Coordinating Minister of the Economy, Wale Edun, announced. The program targets Nigerians aged 18 to 35, particularly those managing small and medium-sized enterprises (SMEs), providing critical funding to foster business growth and job creation. In a statement, Edun highlighted that the cabinet had also approved $50 million from the Islamic Development Bank for an integrated agricultural development project in Yobe State, aimed at enhancing food security and improving rural livelihoods. “This funding demonstrates our commitment to empowering young Nigerians and…

Nigeria has officially kicked off its participation in the 2025 Junior Achievement (JA) Africa Company of the Year (COY) competition, a prestigious platform that empowers high school innovators to showcase their entrepreneurial talent and compete for a chance to represent Africa at the Ralph de la Vega Global Entrepreneurship Competition. The 15th edition of the flagship event began on Wednesday in Abuja, bringing together Nigeria’s brightest young minds alongside teams from Eswatini, Ghana, Mauritius, Rwanda, South Africa, Uganda, and Zambia. Designed for students aged 14 to 17 who have completed the JA Company Programme, COY provides a unique stage for…

At the Imo State Economic Summit, business mogul Aliko Dangote, Chairman of Dangote Group, called on Nigerian entrepreneurs to channel their investments into the country, highlighting the untapped opportunities within the domestic economy. Comparing Nigeria to a “scratch card,” Dangote explained that the benefits of the nation’s potential are revealed only when one actively engages with it. He emphasized that those who have committed to investing locally are already reaping the rewards. “Nigeria is like a scratch card; the results are only visible once you scratch it. Many of us who have invested are already seeing the benefits,” Dangote said.…