Author: Gift Ifeanyi

The Boeing 737-700 Business Jet formerly listed for sale by the Nigerian government has been withdrawn from the market, according to the marketing firm that handled its listing. The aircraft, which was previously visible on JetHQ’s website, could no longer be found by reporters checking the platform. In an email to The PUNCH, Laurie Barringer, JetHQ’s Manager of Market Research, confirmed that the company had removed the listing and advised that further inquiries be directed to the Nigerian government. “We no longer have the listing on the Boeing. You will need to reach out to the Nigerian Government for information…

Nigeria’s federal government has approved a medium-term fiscal framework for 2026, projecting total expenditure of N54.5 trillion ($37.7 billion), according to the Minister of Budget and Planning, Atiku Bagudu. The plan anticipates federal revenue of N34.33 trillion, leaving a deficit of N20.1 trillion, equivalent to 3.61% of GDP. Debt servicing is expected to consume N15.9 trillion, while non-recurrent debt spending is pegged at N15.27 trillion, highlighting the fiscal pressures facing Africa’s largest economy. Bagudu disclosed that the government has set oil at a benchmark price of $64.85 per barrel, with anticipated production of 1.84 million barrels per day (bpd)—short of…

The Economic and Financial Crimes Commission (EFCC) has brought two Lagos-based businessmen, Fagite Oladipo and Raymond Akintayo, before the Federal High Court over allegations of defrauding Ocean Lord Limited of N1.55 billion. Alongside the men, the EFCC arraigned Cabota Power Company Limited and Cabota Group Limited, which the commission claims were used to receive funds under the false pretense of holding valid foreign-exchange licences. Eight charges have been filed against the defendants, accusing them of fraud, conspiracy, and unlawful conversion of funds, according to EFCC prosecutor Suleiman Suleiman. The accused pleaded not guilty to all counts when read before the…

Bamidele Adewole, the driving force behind PWAN Stars, has earned recognition as one of Nigeria’s 100 Persons of the Year 2025, an accolade presented by 40 Under 40 Nigeria, a premier platform celebrating individuals shaping business, entrepreneurship, and national development. The recognition spotlights leaders who demonstrate impact, innovation, and strategic vision across industries. Established by Amb. Omotayo Salako, 40 Under 40 Nigeria creates avenues for mentorship, networking, and knowledge sharing, aligning with the United Nations’ 2030 Agenda to promote sustainable growth and entrepreneurship. Adewole, an economist and seasoned real estate executive with over two decades of experience, heads PWAN Stars,…

Redtech, the fintech subsidiary of Heirs Holdings, has introduced RedPay, an all-in-one payment platform designed to simplify how businesses accept, track, and manage transactions across multiple channels, signaling its ambition to become a major player in Africa’s payments ecosystem. Introduced at a high-profile event in Lagos on November 26, 2025, RedPay is the result of several years of development within Redtech’s expanding payment ecosystem. The platform combines the RedPay POS and the RedPay Payment Gateway, enabling merchants to collect payments both online and offline seamlessly. The gateway supports multiple payment methods—including cards, bank transfers, USSD, QR codes, payment links, and…

A new leader has emerged in Africa’s fintech innovation scene, as Black Swan, a startup from Mauritius, claimed the top spot at the 2025 MEST Africa Challenge. The announcement followed the competition’s grand finale hosted at Innovation City in Cape Town on November 26, 2025. According to a statement released on Tuesday and cited by Technext, this year’s event centred on fintech companies delivering transformative solutions that expand financial inclusion. Ten finalists competed at the finale, each presenting practical, growth-ready products addressing real issues in payments, credit access, insurance, and trade finance. By securing first place, Black Swan earned a…

Africa’s top young innovators have converged on Abuja as Junior Achievement Africa opens the 15th edition of its prestigious Company of the Year (COY) competition, with Nigeria and seven other countries vying for the continent’s leading student entrepreneurship award. Running from December 3 to 5, 2025, the event brings together standout student-led companies for a chance to win cash prizes, scholarships and long-term venture support—along with the opportunity to represent Africa on the global stage. Teams from Eswatini, Ghana, Mauritius, Nigeria, Rwanda, South Africa, Uganda and Zambia are showcasing climate-centered projects inspired by this year’s theme, “Action for Climate Transformation.”…

A fresh funding window has emerged for Nigerians aiming to start or expand their enterprises, offering entrepreneurs the chance to secure up to $1,000 in flexible financial support through the Business Freedom Grant. According to MSMEonline, the initiative is designed for everyday Nigerians who have practical business ideas, clear execution plans and the determination to take measurable steps toward financial independence. The goal of the grant is simple: remove financial barriers that prevent aspiring founders from turning their ideas into thriving, income-generating ventures. Whether an applicant is launching a new business or scaling an existing one, the programme provides a…

In a major step beyond its traditional payments stronghold, Moniepoint has introduced a new business tool designed to help small and medium-sized enterprises better manage their daily operations. The company has unveiled Moniebook, an all-in-one point-of-sale and bookkeeping platform built for SMEs across Nigeria. Positioned as a central hub for payments, stock management, staff oversight and sales analytics, Moniebook is offered as a subscription add-on to Moniepoint’s existing POS terminals. This development builds on Moniepoint’s broader growth strategy, coming on the heels of its earlier launch of MonieWorld, a remittance service targeted at the Nigerian diaspora. The fintech, which achieved…

Nigeria’s private-sector advocacy group, the Centre for the Promotion of Private Enterprise (CPPE), has warned that the government’s plan to raise taxes on non-alcoholic drinks could place additional pressure on an already struggling economy. In a statement, CPPE’s Director, Dr. Muda Yusuf, explained that the proposed tariff comes at a time when manufacturers, small enterprises, distributors, and retailers are contending with some of the toughest economic conditions in recent years. Businesses, he said, are being squeezed by persistent inflation, rising operational costs, volatile exchange rates, high energy expenses and weakening consumer demand. Yusuf noted that the manufacturing sector—one of the…

British International Investment (BII), the UK government’s development finance arm, has partnered with First City Monument Bank (FCMB) to introduce a $50 million credit line designed to stimulate growth and expand economic opportunities for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria. According to information shared on Tuesday, BII will extend the funding to FCMB, which will then channel the capital directly to MSMEs. A significant portion of the facility—70%—has been earmarked for small businesses in northern Nigeria, a region that has long struggled with limited access to financial support. The remaining 30% is reserved for women-owned enterprises nationwide. Both…

The Presidential Enabling Business Environment Council (PEBEC) has renewed its promise to position Nigeria as a premier destination for global investment and commerce. Speaking at an awards event in Abuja honoring public sector excellence, PEBEC Director General Princess Zahrah Mustapha Audu highlighted the nation’s ongoing economic transformation, crediting intentional, data-driven reforms led by President Bola Tinubu and Vice President Kashim Shettima. Audu pointed to the January launch of the Regulatory Impact Analysis (RIA) Framework as a pivotal development, enabling more predictable and evidence-based policymaking. She noted that strong regulatory environments have been proven to boost annual economic growth substantially, citing…

In a recent press release from Onitsha, Anambra State, tech entrepreneur Okoli outlined a mission that reaches far beyond product development. At the heart of his vision is a commitment to empowering young Africans, enhancing global mobility, and delivering business solutions tailored to underserved communities. Vnox Technology, under Okoli’s leadership, is building a cutting-edge B2B platform designed to equip travel agencies, businesses, and entrepreneurs—both within Africa and the diaspora—with digital tools previously out of reach. This innovative initiative aims to level the playing field for local operators and expand their access to global opportunities. With a growing team spanning continents,…

With Nigeria’s youth accounting for over 60% of its population, the nation’s future hinges on unlocking the potential of its youngest generation. Yet, persistent challenges like unemployment and a disconnect between education and industry have kept many young Nigerians from realizing their promise. In response, the National Agency for Science and Engineering Infrastructure (NASENI) is emerging as a driving force for change, rolling out initiatives designed to empower young innovators and entrepreneurs across the country. NASENI’s suite of programmes, from the Innovate Naija Challenge and DELT-HER (for female inventors) to Skill Acquisition Centres nationwide, aims to shift the narrative by…

The spotlight was on innovation and entrepreneurship at the debut Verto Awards in Lagos, where three Nigerian startups claimed the event’s top prizes. The ceremony, attended by leading figures from the tech industry, investment community, and media, celebrated months of intensive review and selection. The competition drew startups from diverse fields—finance, aquaculture, and AI-driven business solutions—demonstrating Verto’s embrace of sector-wide ingenuity. Cash awards of $10,000, $3,000, and $2,000 were presented to the winning ventures, enabling them to scale operations and expand across borders. Dingpay, which won the grand prize, is a fintech company developing an “offline-first” digital wallet that consolidates…

Google.org has unveiled a landmark N3 billion ($2.1 million) investment to fast-track Nigeria’s digital and artificial intelligence (AI) transformation. Announced by Olumide Balogun, Google’s West Africa Director, at a Lagos media briefing, the initiative marks a pivotal step in Google’s enduring partnership with Nigeria, targeting both the creation of advanced AI talent and the fortification of digital safety. This two-pronged approach directly supports Nigeria’s National AI Strategy and the government’s goal of creating one million digital jobs, as outlined by the Ministry of Communications, Innovation and Digital Economy. Google’s initiative aligns with Nigeria’s ambition to unlock $15 billion in AI-driven…

The U.S. Mission in Nigeria has unveiled a nationwide social media competition, urging young Nigerians to creatively showcase the role American brands and innovations play in their everyday experiences. The campaign, titled “Made in America, Loved in Nigeria,” officially kicked off Monday and targets Nigerians between 18 and 45 years old. Participants are invited to submit original, 90-second vertical videos highlighting how American products, services, or ideas impact homes, businesses, or communities. To qualify, entries must be posted on YouTube, Instagram, or Facebook, tagged @USinNigeria, and include the hashtags #MadeInAmericaLovedInNigeria and #TradeThatTransforms. Only one entry per person is allowed, with…

The revival of the Lagos International Trade Fair marks a major milestone in restoring Lagos’s status as a regional trade hub and a critical entry point for cross-border commerce throughout West Africa. Barrister Vera Safiya Ndanusa, Executive Director of the Lagos International Trade Fair Complex Management Board (LITFCMB), told Business Insider Africa that the fair’s return is a significant boost for Nigeria’s business ecosystem. Ndanusa described the fair as a vital meeting ground for entrepreneurs and innovators. Affordable exhibition spaces, she said, make it possible for businesses of all sizes to connect, share ideas, and showcase products to a diverse…

Nigeria has stepped in to protect Fernando Dias da Costa, a leading opposition presidential candidate in Guinea Bissau, after credible threats to his safety emerged during the country’s latest political upheaval. The Ministry of Foreign Affairs confirmed on Monday that President Bola Tinubu authorized da Costa’s shelter at the Nigerian Embassy in Bissau, as outlined in a letter sent to ECOWAS Commission President Omar Alieu Touray on November 30. Da Costa, who challenged incumbent President Umaro Sissoco Embalo in the November 23 presidential elections, found himself at the center of an escalating crisis when both candidates declared victory before final…

At the 2025 Annual Lecture of the Delta Online Publishers Forum (DOPF) in Asaba, experts and local leaders hailed Nigeria’s newly enacted tax law as a transformative move for the country’s economy—especially for small and medium enterprises (SMEs). The consensus among panelists was that, with careful and transparent implementation, the new legislation could energize business growth, improve government revenue, and promote long-term economic stability. Keynote speaker Dr. Ochuko Emudainohwo, a Fellow of the Institute of Chartered Accountants and associate professor at Dennis Osadebay University, described the 2025 tax reform as a proactive response to urgent economic realities, including dwindling oil…