Author: Gift Ifeanyi

I. Summary of Capital Raise Nigerian-founded fintech Moniepoint, a prominent African unicorn company, has successfully concluded the second tranche of its Series C funding round, raising an additional USD 90 million in equity financing. This second tranche, announced on 21 October, brings the total Series C funding to USD 200 million, following an initial USD 110 million raise that secured the company’s over-USD 1 billion “unicorn” valuation the previous year. II. Key Investors and Deal Structure The total capital raise was led by Development Partners International (DPI) through its African Development III fund, with strategic participation from a host of…

Anchoring the National Sugar Master Plan, Investment Targets 700,000 Metric Tonnes of Local Production Amidst Rising Import Costs Lagos, Nigeria — Dangote Sugar Refinery (DSR) has strategically intensified its long-term commitment to ending Nigeria’s dependency on raw sugar imports, deploying an investment exceeding $700 million into its backward integration program (BIP). This colossal capital outlay is not merely a business expansion; it represents the single most significant private-sector commitment underpinning the government’s National Sugar Master Plan (NSMP), designed to conserve Nigeria’s dwindling foreign exchange (FX) reserves and achieve industrial self-sufficiency. The investment is systematically spread across key areas necessary for…

Birmingham, UK — Imaiger, a pioneering artificial intelligence (AI) visual content solution, has been named the Best AI-Powered Visual Content Platform at the Midlands Enterprise Awards 2025. The platform’s recognition is a major win for its Nigerian United Kingdom-based founder, Salam Lawal, highlighting the global impact of African tech entrepreneurship. The annual Midlands Enterprise Awards, hosted by SME News (a subsidiary of AI Global Media), are dedicated to celebrating businesses and individuals driving remarkable growth, innovation, and sustainable practices across the UK’s competitive Midlands region. Melissa Bramall, the awards coordinator, underscored the significance of the winners, noting that their work…

Abuja, Nigeria — Guinness Nigeria Plc has significantly strengthened its distribution network across several states in Northern Nigeria, a strategic move following the divestment of its former majority shareholder, British drinks giant Diageo. Girish Sharma, Guinness Nigeria’s Managing Director and Chief Executive Officer, confirmed the successful expansion in an exclusive interview in Abuja, highlighting a renewed focus on market penetration under the company’s new strategic direction. The expansion comes on the heels of the landmark transition in ownership, which saw Diageo complete the sale of its 58.02% controlling stake in Guinness Nigeria to the Singapore-headquartered conglomerate, Tolaram, in late 2024.…

The 2025 Sabistation Business Owners Awards provide a rich, multi-layered view of the Nigerian economy. Far from being a mere list of winners, the results reveal a strategic roadmap for growth, highlighting the critical balance between established industrial powerhouses and agile, digital-native disruptors who are redefining value creation in Africa. 1. The Foundation of Resilience: Titans and Legacy Builders The highest honors recognize the essential pillars of the economy. Femi Otedola (Entrepreneur of the Year, Man), is acknowledged for his transformative contributions in the power sector through Geregu Power. Geregu has recently been lauded for its resilience and strategic moves…

The recent briefing by the Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi, was not just an update on departmental efficiency; it was a clear declaration of Nigeria’s strategic intent to seize logistical command over the African Continental Free Trade Area (AfCFTA). The upcoming Customs Partnership for African Cooperation in Trade (C-PACT) Conference is being strategically positioned as the decisive operational anchor for continental commerce, ensuring Nigeria is the primary beneficiary of integrated African trade. The Presidential Mandate: Trade as an Expansion Engine President Bola Tinubu’s renewed mandate to the CGC is explicit: use trade as a major engine of economic…

S&P Global Ratings’ decision to revise Nigeria’s sovereign outlook to “Positive” from “Stable,” while maintaining the long-term rating at B-/B, is far more significant than the modest letters suggest. This is not just a routine technical adjustment of a financial score; it represents a critical recalibration of global perception capital. It signals to large-scale institutional investors that the internal mechanics of Nigeria’s economy are undergoing a deliberate process of de-risking, transitioning from unpredictable volatility to manageable uncertainty. The Signal of “Positive Outlook” The core value of the ‘Positive Outlook’ lies not in the immediate affirmation of the B- rating, but…

The recent convergence of over 700 principal operators at the 8th Caladium Lagos SME Bootcamp was not merely a networking event; it was an annual economic triage. Amidst intensifying structural pressures in the Nigerian market, this gathering represents a crucial, decentralized mechanism where small and medium enterprises—the very core of the nation’s employment and GDP—engage in necessary survivalist strategy and resource securitization. The statistical weight of the SME sector is immense, driving 48 percent of GDP and providing 84 percent of jobs. Yet, as co-founder Ayo Bankole Akintujoye notes, the movement was founded on the basic principle that market knowledge…

Tony Elumelu, the Chairman of the United Bank for Africa (UBA) and founder of the Tony Elumelu Foundation, has firmly stated that Nigeria’s economic transformation will be spearheaded by its entrepreneurs, rejecting the reliance on government handouts or external foreign assistance. Speaking at the Grow Nigeria Conference 2.0 in Lagos, themed “Empowering Nigeria’s Entrepreneurs: Building Institutions That Last,” Elumelu asserted that the nation’s future is actively being shaped by resilient business owners who champion excellence. The Imperative of Institutional Strength While acknowledging Nigeria as inherently an entrepreneurial nation, Elumelu stressed that the core challenge lies in building enduring institutions capable…

Standard Chartered Bank Nigeria (StanChart) has concluded the sixth edition of its highly impactful SC Women in Tech Incubator initiative, awarding $10,000 in seed funding to five outstanding female technology entrepreneurs. This latest cohort brings the total number of Nigerian winners to 30, who have collectively received over $250,000 in seed funding since the program’s inception in 2019. The initiative is a cornerstone of the bank’s commitment to improving women’s access to entrepreneurial finance and fostering sustainable economic development. From Bootcamp to Business Investment The SC Women in Tech program is strategically designed for female-led entrepreneurial teams, providing them with…

The United Kingdom has enacted a significant change to its immigration framework, effective November 25, 2025, granting international students—including the substantial Nigerian contingent—the ability to seamlessly switch to the Innovator Founder visa without having to exit the country first. This major revision removes a key barrier for entrepreneurial talent nurtured within the UK’s academic system.  Direct Path from Study to Business This policy is a critical shift from previous requirements, which often necessitated that students on a valid Study visa return to their home country to submit an application for the business-focused Innovator Founder route. Under the new, streamlined rules,…

The Presidency has announced plans to host a significant national engagement next month, dedicated to fostering direct, open collaboration between the government and Nigeria’s entrepreneurial community. The initiative, titled “Dear Entrepreneurs, We See You, We Hear You,” is scheduled for December 4, 2025. The dialogue, a core component of President Bola Tinubu’s ‘Renewed Hope’ agenda, is intended to convene entrepreneurs from across the economic spectrum—ranging from micro and small business owners to leading innovators in the industrial and technology sectors—for candid conversations with policymakers. A Defining Moment for National Transformation Chalya Maryam Shagaya, Senior Special Assistant to the President on…

Whatadeal eCommerce, the dedicated online retail arm of Whatadeal Africa, is set to host its first-ever Whatadeal Mega Trade Fair, establishing a dynamic, in-person market engagement designed to amplify the growth of Nigerian enterprises. The two-day event will take place on November 29 and 30, 2025, at the Whatadeal premises on Chief Yesufu Abiodun Road, Oniru, Lagos. The Fair is poised to convene hundreds of local vendors, showcasing a vast and diverse range of products across critical consumer sectors, including fashion, beauty, technology, food, and lifestyle. Attendees are promised a prime opportunity to discover unique offerings and secure exclusive commercial…

President Bola Tinubu has utilized the inaugural Customs Partnership for African Cooperation in Trade (C-PACT) conference in Abuja to affirm the Nigerian government’s resolute commitment to dismantling structural business challenges and supercharging the economy under his Renewed Hope Agenda. The President emphasized that achieving national prosperity and fulfilling AfCFTA’s promise requires decisive execution, not merely theoretical agreement. Foundational Reforms for Economic Rebound President Tinubu detailed the immediate, high-impact reforms undertaken to create a stable, predictable, and trade-friendly environment: Monetary Policy: Unification of the foreign exchange market window. Fiscal Policy: Elimination of fuel subsidies to redirect critical resources toward infrastructure development.…

A fundamental gap exists between Nigeria’s enormous youth population—over half of the country—and the structured support necessary to translate their entrepreneurial talent into formalized, scalable businesses. While young Nigerians are heavily engaged in survival entrepreneurship across retail, services, and technology, they frequently lack patient capital, structured mentorship, and the visibility needed to transition from informal “roadside” ventures to high-growth companies. The new business and investment reality program, Oya Pitch, has been strategically launched to address this critical infrastructure deficit. Investment Beyond Exposure: The Oya Pitch Model Oya Pitch distinguishes itself as a real-world investment platform focused on established Small and…

Nigeria’s premier oil and gas companies concluded the nine-month period ending September 2025 with a robust aggregated cash balance of 1.48$ trillion. This figure represents a slight but positive increase of $0.76 compared to the 1.46$ trillion recorded during the same period in 2023, signaling enhanced liquidity across the sector. Cash as a Measure of Financial Strength Cash and bank balances, often listed on the balance sheet as “cash and cash equivalents,” are recognized as a vital indicator of a company’s immediate financial health. These reserves—which include funds readily accessible in bank accounts or short-term deposits—demonstrate a firm’s capacity to…

An international gathering of media, communication scholars, and industry stakeholders is set to convene at the University of Lagos (UNILAG), Akoka, Lagos, Nigeria, for the 5th Annual Academic Conference and General Meeting of the Association of Media and Communication Researchers of Nigeria (AMCRON). The high-level academic event, scheduled for December 3rd and 4th, 2025, will center on the critical theme: “ISSUES IN ARTIFICIAL INTELLIGENCE: The Media and Democracy.” Interrogating the Digital-Democratic Nexus The conference will serve as a vital platform for rigorous scholarly and professional examination of the profound transformation brought about by the rapid advancement of Artificial Intelligence (AI)…

Auldon Toys, under the leadership of CEO Paul Orajiaka, has completed a significant strategic shift from bulk distribution to a consumer-facing retail model with the launch of an N8 billion dedicated children’s experience center in Lagos. This landmark facility is designed to engage young consumers and their families directly through a blend of entertainment, education, and retail. The newly opened hub is more than a store; it is an integrated destination featuring a dedicated toy supermarket, a family-friendly cafe, and specialized educational workshops. These programs are structured to promote hands-on learning in critical foundational skills, offering classes in: Robotics and…

The Federal Government has placed significant emphasis on the upcoming high-level African Customs Conference in Abuja, asserting its critical role in stimulating national economic revival, strengthening regional competitive advantages, and unlocking crucial export avenues for Small and Medium Enterprises (SMEs) under the African Continental Free Trade Area (AfCFTA) agreement. Speaking to the press at the State House, Comptroller-General of Customs, Adewale Adeniyi, highlighted that President Bola Ahmed Tinubu’s commitment to hosting the summit reinforces the administration’s strategic policy: to elevate trade as a primary driver for industrial expansion, national development, and poverty reduction. A Private Sector-Driven Agenda The conference is…

The narrative of Nigeria’s wealthiest women offers a compelling portrait of determination, strategic acumen, and the dismantling of traditional barriers in the corporate world. Their success is not merely a measure of personal wealth but a reflection of significant economic contribution and the establishment of vast, job-creating empires that span multiple sectors. This analysis focuses on the top-tier of female wealth creation, detailing their business strategies, key asset concentration, and the evolving dynamics of Nigeria’s high-net-worth demographic. The Current Leading Figure in Nigerian Female Wealth Based on current, verified public asset valuations, Folorunso Alakija retains the undisputed title of Nigeria’s…