Author: Gift Ifeanyi

Nigeria’s entrepreneurial spirit is undeniable. With nearly 200 million people and a rapidly growing small business sector, the country is full of innovators pushing against the odds. Yet one persistent challenge keeps surfacing—unreliable electricity. For many, especially in energy-intensive sectors like hospitality, power is not just a utility; it is the lifeblood of daily operations. A Business on the Edge of Power Challenges For Anthony Ikemefuna, a hospitality entrepreneur in Calabar, Cross River State, the story is all too familiar. His business—dependent on lighting, cooling systems, kitchens, and event spaces—was constantly held hostage by erratic power supply. “I realised I…

A new report by Fate Foundation has revealed a sharp decline in Nigeria’s business creation rate, with the State of Entrepreneurship (SoE) 2024 Report showing a drop to 24% in 2024, down from 30% in 2023 and 32% in 2022. The slowdown, largely driven by harsh economic conditions, highlights the growing challenges entrepreneurs face in sustaining and scaling ventures. Despite the downturn, the study underscores promising shifts in the ecosystem. Female entrepreneurs now account for nearly half of all new businesses, rising steadily from 43% in 2021 to 48% in 2024, signaling stronger participation of women in enterprise. Similarly, youth-led…

Tolu Okojie — better known as Chef TEE — is redefining what it means to be an entrepreneur in the global culinary space. Once a banker in Nigeria, he traded in spreadsheets for suya skewers and has since built Greelz Inc. in Toronto into a platform that celebrates Nigerian cuisine with a modern Afrofusion twist. But his journey is more than a career change — it’s a blueprint for how passion, culture, and entrepreneurship can drive economic growth across borders. Reinventing Street Food as a Global Business Chef TEE sees Nigerian food as more than sustenance; it’s an exportable cultural…

Bilateral trade between Nigeria and the United States has hit a slowdown, with new figures showing steep declines on both sides. According to the U.S. Census Bureau and the Bureau of Economic Analysis, Nigeria’s exports to the U.S. fell sharply by 41% in July 2025 — dropping from $639 million in June to $379 million. U.S. exports to Nigeria also dipped by over $300 million during the same period. Despite the downturn, the U.S. still maintained a $206 million trade surplus for July, and overall, between January and July 2025, it imported $3.14 billion worth of Nigerian goods while exporting…

When CreditPRO Finance Company Limited first opened its doors in 2019, it was far from the sleek offices and billion-naira loan portfolios it commands today. The founders began in a modest apartment in Lagos with only ₦3 million in equity, chasing a dream many thought was too ambitious — to make financing accessible to Nigeria’s small and medium-sized businesses (SMEs). Fast forward to 2025, that bold vision has translated into more than ₦20 billion disbursed in loans and, most recently, a game-changing license from the Central Bank of Nigeria (CBN). For many, the license is a regulatory milestone. For entrepreneurs,…

In the heart of Lagos, celebrity chef Hilda Baci is once again chasing history — this time with a six-metre-wide custom-built pot and the bold ambition to cook the world’s largest pot of jollof rice. To many, it’s just another Guinness World Record attempt. But for entrepreneurs and professionals, her journey offers a blueprint for building a brand on discipline, creativity, and global relevance. Turning Passion into a Platform Hilda Baci first became a household name in 2023 when she cooked for 93 hours straight, setting a Guinness World Record for the longest cooking marathon. What began as a culinary…

Nigeria’s agricultural sector continues to prove its strength as the world seeks healthier, more natural products — and ginger has emerged as one of the country’s most valuable commodities. Known globally for its superior quality, rich aroma, and potent oil content, Nigerian ginger is not just a spice; it’s a global brand in the making. As the third-largest producer in the world, with annual output of over 160,000 metric tons, Nigeria sits at the heart of a multi-billion-dollar global ginger economy. From culinary use to pharmaceuticals, cosmetics, and wellness products, the opportunities for ginger-based ventures stretch far beyond traditional food…

Women-owned businesses are quietly becoming the backbone of Nigeria’s informal economy, and a new partnership between the Renewed Hope Initiative (RHI) and the Tony Elumelu Foundation is accelerating that trend. In Kogi State, 500 women traders and entrepreneurs have just received ₦50,000 each — not as charity, but as seed capital to expand their businesses, stabilize household incomes, and power local commerce. Unlike traditional welfare programmes, this initiative frames women as drivers of growth. “We want to see women not just survive, but thrive as entrepreneurs,” said Senator Oluremi Tinubu, Nigeria’s First Lady and founder of RHI. A Shift from…

As old trade systems unravel and global markets face increasing instability, Africa is no longer waiting to be invited into the conversation—it is rewriting the script. The continent is emerging as the engine that will shape future economies, and this shift is at the heart of the Global Africa Business Initiative’s flagship conference, Unstoppable Africa 2025, themed “The Big Push: Africa Shapes the Markets.” Speaking at a pre-event briefing, Sanda Ojiambo, UN Assistant Secretary-General and Executive Director of the United Nations Global Compact, described the moment as pivotal: “Africa is unstoppable. The continent is at the centre of so many…

At a time when Nigerians are grappling with economic strain, the call for resilience, faith, and collective effort echoed strongly on Sunday in Ikot Ekpene, Akwa Ibom State, during the Second Plenary Meeting of the Catholic Bishops Conference of Nigeria (CBCN). The event, attended by Senate President Godswill Akpabio, Secretary to the Government of the Federation (SGF) George Akume, Governor Umo Eno, Catholic Bishops, clergy, and faithful across the country, became more than a religious gathering—it transformed into a national reflection on leadership, governance, and the role of faith in shaping Nigeria’s destiny. Akpabio: “Nation-Building Is a Covenant of Partnership”…

Entrepreneurs, nonprofits, researchers, and social innovators have a wide range of grant and funding opportunities this September. From AI-driven projects to grassroots women’s rights initiatives, here are some of the top global opportunities you should not miss: September 2025 Global Grants & Funding Opportunities for Entrepreneurs, NGOs, and Researchers 1. Salesforce Accelerator Salesforce is providing funding support to nonprofits for building custom AI solutions.Deadline: September 10Learn more 2. UNESCO Human Rights Prize The Commission Nationale Française pour l’UNESCO is awarding €70,000 for projects that protect children’s rights and combat exploitation.Deadline: September 14Learn more 3. Vital Impacts Environmental Photography Grants One…

Abia State Governor Alex Otti has reaffirmed his administration’s resolve to prioritise security as the foundation of economic progress, calling on business leaders and stakeholders in Aba to actively support the state’s Security Trust Fund. Speaking at the Aba Stakeholders Security Trust Fund Raising Luncheon on September 11, Otti stressed that no meaningful development can thrive without security. He assured residents and investors that every contribution will be transparently managed and used solely for public good. The governor also revealed ongoing partnerships, including an agreement with Radisson Blu to revive the Enyimba Hotel, and announced that President Bola Tinubu would…

The Dangote Group has reaffirmed its commitment to strengthening commerce and sustainable development by entering a strategic partnership with the Abuja Chamber of Commerce and Industry (ACCI) for the 2025 Abuja International Trade Fair. The 20th edition of the fair, themed “Sustainability: Consumption, Incentives, and Taxation,” is expected to attract over 100,000 participants, including government agencies, multinational corporations, SMEs, and diplomatic missions. According to Anthony Chiejina, the group’s spokesman, Dangote has consistently supported ACCI as part of its broader agenda to boost intra-African trade and drive industrialisation. He noted that the company’s president, Aliko Dangote, values the Chamber’s strategic role…

Every great success has its roots in vision, discipline, and persistence. For Muazzam Mairawani, chairman of MSM Group, the path to building one of Africa’s most dynamic conglomerates began with a simple desire — to leave a lasting mark on history. Though born into privilege, Mairawani distinguished himself early with a keen business instinct and a solid academic foundation. Armed with a Bachelor’s degree in Business Information Systems from Middlesex University (UK) and an Advanced Diploma in Computing from Informatics Academy, Singapore, he developed the rare ability to merge business management with technology innovation. His entrepreneurial rise began in Nigeria’s…

For Femi Otedola, business started long before the boardroom. At just seven years old, he was already charging visitors to his parents’ Lagos home a small fee for nail-cutting services, diligently logging his profits in a notebook. It was an early sign of the discipline and business instinct that would later define his career. Today, Otedola is recognized as one of Nigeria’s most prominent entrepreneurs, philanthropists, and wealth-builders. His new book, “Making It Big”, traces his remarkable journey through the highs and lows of Nigeria’s challenging business landscape, offering both a candid memoir and a practical guide for aspiring entrepreneurs.…

The Federal Government has clarified that its new Tax Identification Number (Tax ID) requirement is targeted at taxable individuals and businesses—not every bank account holder. Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, explained that under the Nigeria Tax Administration Act (NTAA), a harmonised Tax ID will streamline compliance and close loopholes. For most people, an existing NIN or CAC number will automatically serve as their Tax ID, while current TINs remain valid. From January 2026, taxable persons without a Tax ID may face restrictions on bank accounts, pensions, insurance, or investment services. Entrepreneurs and professionals…

The County Government of Nyandarua in Kenya has named Sadiq Saleh Osude, a Nigerian entrepreneur and philanthropist, as its Special Envoy for Investment. His mandate: to connect the county with credible investors, particularly from the Middle East, and channel funding into strategic growth sectors. The collaboration was sealed during the Soft Conference in Dubai, an event hosted by Gaf Africa and Eki Co-Net. At the gathering, Osude engaged Nyandarua’s Governor, Moses Kiarie Badilisha, to outline a shared vision of positioning the county as a hub for infrastructure development, agribusiness, real estate expansion, and tourism. Appointed for an initial two-year term,…

From an initial listing price of ₦40 per share, BUA Foods Plc has soared to ₦415, pushing its market capitalization beyond ₦10 trillion ($7.05bn) in 2025 and overtaking Dangote Cement and MTN Nigeria as the country’s most valuable company. The food-processing giant doubled its market cap between 2023 and 2024, reporting a staggering 109% jump in revenue to ₦1.53 trillion and profits of ₦265.9 billion. Its 2025 half-year numbers showed continued momentum, with ₦912.5 billion revenue, up 36%. Chairman Abdul Samad Rabiu credits the growth to strategic investments in sugar, flour, rice, and pasta, alongside bold expansion moves such as…

The sudden 41% plunge in US imports of Nigerian goods has sent shockwaves through the country’s trade community, but experts say the slump may be the wake-up call Nigeria needs. Fresh data from Washington shows imports crashed from $639m in June to just $379m in July 2025. While crude oil remains somewhat protected, non-oil exports are taking a direct hit from President Trump’s new tariff regime, which raised duties on Nigerian goods to 15%. For years, Nigeria has leaned heavily on crude shipments to power its US trade surplus. Now, economists warn that overdependence on oil leaves the country vulnerable.…

As Nigerians prepare for new fuel and aviation taxes in 2025, the African Democratic Congress (ADC) is seizing the moment to sharpen its opposition credentials. Speaking in Abuja, ADC’s National Publicity Secretary, Bolaji Abdullahi, blasted the ruling APC government for “killing Nigerians with economic hardship.” He painted the administration as directionless, accusing it of piling debt, scrapping fuel subsidy without cushioning measures, and eroding purchasing power through naira devaluation. The ADC argues that the planned 5% petrol tax and additional aviation levies will further alienate citizens already struggling to survive. “What exactly did we vote this government to do—save Nigerians…