Author: Gift Ifeanyi

Ihifix Digital Technologies has announced a bold mission to establish Africa’s most expansive business movement after successfully training over 15,000 entrepreneurs in 2025. The milestone was unveiled at the Afriscale 2025 Conference in Kaduna, where a diverse assembly of investors, tech leaders, and policymakers explored the future of the continent’s economy under the theme: “Scaling with Intelligence: How AI Is Powering Africa’s Next-Generation Businesses.” The movement aims to prove that African enterprises are already globally competitive, provided they bridge the gap between manual operations and automated systems. The Afriscale Philosophy: Optimization Over Entry-Level Unlike traditional workshops, Afriscale 2025 targeted established…

If Nigeria is to secure its position as the undisputed energy powerhouse of Africa, it must shift from a decade-long planning cycle to a 36-month execution window. This is the core message from seasoned energy expert Canice Emeka, who has outlined a strategic roadmap consisting of seven non-negotiable steps to revitalize the nation’s power sector and turn it into a multi-billion dollar export engine. The strategy focuses on eliminating “estimated billing,” professionalizing distribution, and leveraging Nigeria’s potential as a regional energy hub. The 36-Month Metering Challenge One of the most significant bottlenecks in the current system is the “metering gap,”…

WACT–APM Terminals Nigeria has marked a major milestone in its community development efforts by graduating 600 beneficiaries from the fourth and fifth cohorts of its WACTpreneur programme. This initiative underscores the terminal operator’s dedication to fostering self-reliance and inclusive economic growth within its host communities of Onne and Ogu in Rivers State. The graduation follows six months of intensive entrepreneurship training and mentorship designed to turn local talent into sustainable business owners. Cultivating the Entrepreneurial Spirit The WACTpreneur programme is more than just a training course; it is a strategic investment in human capital. During the ceremony, representatives from WACT…

As the digital economy accelerates, the Afriscale 2025 Conference in Kaduna has marked a significant milestone, training over 15,000 entrepreneurs from Nigeria and the diaspora. The event served as a critical forum for discussing how artificial intelligence (AI) and technology-driven systems can move African businesses from survival mode to global competitiveness. Themed “Scaling with Intelligence: How AI Is Powering Africa’s Next-Generation Businesses,” the conference shifted the focus from basic skills to high-level organizational optimization. Moving Beyond the Basics: Systems and Structure Convener Emmanuel Odeh Adikpe emphasized that the 2025 initiative was specifically designed to help established business owners refine their…

In a significant move for Nigeria’s indigenous energy sector, Heirs Energies has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank). The deal, signed in Abuja, is set to be a catalyst for the company’s upstream expansion, with the goal of doubling its current production capacity to meet national energy demands. The financing is structured to support Nigeria’s broader industrial growth by scaling crude oil production to 100,000 barrels per day (bpd) and increasing gas output to 250 million cubic metres. Strategic Expansion and Debt Refinancing The facility utilizes a five-year reserve-based lending (RBL) framework. According to…

In a stinging rebuke of administrative negligence, the ECOWAS Court of Justice has ordered the Federal Government of Nigeria to investigate the 1978 military seizure of assets belonging to 94-year-old entrepreneur, Mr. Kolawole Koiki. The ruling puts an end to decades of legal limbo regarding Mr. Koiki’s 46% stake in the New Nigeria Salt Company Limited, which was confiscated without compensation during the Obasanjo military junta. Beyond the investigation, the court slammed the government with a ₦5 million fine for violating the octogenarian’s right to a fair hearing within a reasonable time—a breach of the African Charter on Human and…

Data from the National Bureau of Statistics (NBS) has revealed a dramatic shift in Nigeria’s trade relationship with the United States. In the first nine months of 2025, Nigeria’s trade balance with the U.S. swung from a surplus of N1.57tn in 2024 to a staggering deficit of N3.15tn. This reversal is largely attributed to a sharp decline in Nigerian exports and a concurrent doubling of imports from America, fueled by a new “reciprocal” tariff regime introduced by the U.S. administration. The Numbers: A Sharp Contraction in Exports The trade data highlights a worrying downward trend for Nigerian goods entering the…

As Nigeria prepares to implement a sweeping overhaul of its fiscal system in January 2026, the Federal Government has moved to reassure current investors. The 149 companies presently benefiting from the Pioneer Status Incentive (PSI)—which grants total exemption from corporate income tax—will be permitted to maintain their tax holidays for at least another two years. Taiwo Oyedele, Chairman of the Presidential Tax Reform Committee, announced this grace period during a briefing at the Nigerian Investment Promotion Commission (NIPC). The extension is designed to act as a buffer, preventing market shocks and maintaining investor trust while the country transitions to a…

Nigeria’s telecommunications sector faces a potential nationwide shutdown as workers under the Private Telecommunications and Communications Senior Staff Association (PTECSSAN) have issued a formal seven-day strike notice. The industrial action, set to begin on Monday, September 9, 2024, targets 39 companies, including industry giant Huawei Technologies Nigeria Limited, over what the union describes as “precarious and modern-day slavery” working conditions. General Secretary Okonu Abdullahi stated that the move was prompted by persistent anti-labour practices and the refusal of several employers to recognize the constitutional right of workers to unionize. Key Demands of the Union PTECSSAN has laid out a clear…

The landscape of Nigeria’s economy is undergoing a massive transformation driven by a surge in city migration. As millions of young Nigerians move to major hubs like Abuja, Kano, and Lagos, they are reshaping the workforce. With traditional corporate jobs in short supply, a new wave of freelancers and small-scale business owners is emerging, looking for ways to turn their creative talents and technical skills into steady revenue. Current data shows that over 50% of the nation’s 228 million residents now reside in urban environments. While this population is highly industrious, a vast number of these individuals are overlooked by…

A fresh wave of African business leaders is currently reshaping the intersection of commercial success and social impact. Moving beyond simple profit-seeking, these innovators are crafting solutions to deep-seated issues regarding market representation and economic fairness. At the forefront of this movement is Latifa Seini, a Ghanaian visionary currently finalizing the debut of Lembrih Marketplace—a digital bridge connecting Black and African artisans to the international retail stage. While the digital age has theoretically opened global doors, the reality for many African creators remains difficult. Small-scale producers often struggle against prohibitive listing fees, lack of brand exposure, and logistics built for…

The Petroleum Technology Association of Nigeria (PETAN) has revealed the schedule for the landmark 10th edition of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC). This milestone event is slated for February 10–12, 2026, at the Eko Convention Center in Lagos, marking ten years of pivotal industry dialogue. This anniversary edition is organized through high-level partnerships with NNPC Ltd, the Nigerian Content Development and Monitoring Board (NCDMB), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The gathering will feature a massive assembly of over 30 national oil companies (NOCs) and government regulators from throughout the region. From Regional Beginnings…

The presence of the Shoprite supermarket brand in Nigeria appears to be on the verge of a total shutdown. For several months, persistent accounts of shuttered storefronts and bare aisles have plagued the chain. Recent industry intelligence suggests a deepening crisis involving unpaid distributors and competitors ready to move into the retailer’s prime real estate. Experts now suggest the brand could vanish from the Nigerian market as early as the first quarter of 2026. A Recap of the Ownership Shift The current instability follows a major transition in 2021 when the South African parent company, Shoprite Holdings, exited the Nigerian…

Nigeria’s Corporate Affairs Commission (CAC) is currently at the center of a major controversy involving allegations of systemic extortion and official misconduct. The agency’s Registrar-General, Hussaini Ishaq Magaji (SAN), is accused of orchestrating a scheme that forced nearly 300,000 small business owners to pay nearly double the legal rate for business registration. At the heart of the dispute is a collaboration with major fintech platforms—including OPay, Moniepoint, and PalmPay—to register Point-of-Sale (PoS) operators. While the statutory government fee for business name registration was reportedly ₦10,500 at the time, entrepreneurs were allegedly charged ₦20,000. Sources claim the ₦9,500 surplus per person…

The Nigeria Labour Congress (NLC) has issued a stark warning, declaring that the country’s workforce is currently navigating the most severe economic and survival emergency in its history. According to the union, the combination of hyper-inflation, rampant insecurity, and stagnant pay has created a reality more grueling than the hardships of the Nigerian Civil War or the austerity eras of the past. NLC President Joe Ajaero highlighted a grim comparison, noting that Nigerian employees now find themselves at the bottom of the continental economic ladder. He pointed out that workers in countries currently facing active warfare, such as Sudan and…

The Arewa Festival 2025 recently concluded as a landmark event, signaling a powerful movement to restore Northern Nigeria’s legacy as a premier center for trade and culture. Hosted by the Tripoint Academy for Tourism and Enterprise Development in collaboration with the Global Entrepreneurship Network Lagos, the festival united tens of thousands of visionaries from all 19 northern states. Timed to coincide with Global Entrepreneurship Week under the banner “Together, We Build,” the gathering served as a bridge between the region’s rich historical heritage and its future as a hub for modern innovation. A Unified Regional Identity Festival co-convener Muhammed Shuhda…

The rapid expansion of Nigerian cities is fundamentally altering the country’s financial needs. With over 128 million people—roughly half the national population—now living in major metropolitan hubs like Lagos, Abuja, and Kano, the demand for accessible capital has never been higher. As young Nigerians migrate to these centers to launch new ventures, digital finance is stepping in where traditional banks have historically failed. Margaret Banasko, Head of Marketing at FairMoney Microfinance Bank, recently noted that a vast segment of this urban population consists of “hustlers”—ambitious individuals with marketable skills who are often locked out of the formal economy due to…

The Love For Change Women Foundation (LCWF) recently hosted its first EmpowerHER Entrepreneurship Workshop, a landmark event dedicated to the professional growth and communal support of young female entrepreneurs. With the theme “From Hustle to Legacy: Building a Business That Outlives You,” the workshop gathered women between the ages of 20 and 40 to transition their mindsets from short-term survival to sustainable, long-term success. The day was structured around practical, expert-led sessions designed to refine business models, enhance financial literacy, and foster a spirit of intentionality in commerce. Masterclasses in Strategy and Mindset The event featured high-impact sessions from industry…

For Olamide Olatomiwa Olajide, shoemaking is more than a trade—it is a mission to restore respect to manual labor. The founder of Shoeniverse Leathers, a premium Nigerian brand, Olajide’s journey began with a personal transformation. Having once felt a sense of shame regarding her father’s blue-collar background, she eventually embraced the idea that skilled craftsmanship is a source of profound pride. Today, her brand stands as a testament to the fact that handcrafted Nigerian goods can challenge international luxury standards. From Humble Beginnings to a 12 Million Naira Turnover The evolution of Shoeniverse Leathers is a masterclass in “bootstrapping” a…

Microsoft has announced a significant milestone in its ongoing collaboration with the Nigerian government, revealing that over four million citizens have received digital training since 2021. During a media briefing in Lagos, Nonye Ujam, Microsoft’s Director for Government Affairs for West Africa, highlighted that this achievement is a testament to the nation’s rapid evolution within the global digital economy. The initiative has seen particularly strong engagement among students, with 350,000 young people participating in specialized programs. Of these, 63,000 have successfully finished dedicated training tracks, while 43,000 have earned internationally recognized certifications. Advancing the AI Frontier A major pillar of…