Author: Gift Ifeanyi

LAGOS — Ibukun Awosika, the former Chairperson of First Bank of Nigeria, has delivered a sobering reality check to the Nigerian elite, pulling back the curtain on the “lavish lifestyle” that often masks deep financial distress. Speaking on February 24, 2026, Awosika warned that many of Nigeria’s “big names” are essentially living on borrowed time and borrowed money. Her remarks have sparked a national conversation about financial literacy, the psychology of wealth, and the role of money in the Nigerian home. The “Broke Billionaire” Syndrome Drawing from her experience at the helm of one of Africa’s oldest financial institutions, Awosika…

LAGOS — Fidelity Bank Plc has officially opened the doors to the second edition of its flagship women’s empowerment initiative, the HerFidelity Apprenticeship Programme (HAP) 2.0. Announced on Monday, February 23, 2026, the program marks a strategic shift from basic skill acquisition to building “sustainable economic pipelines” for Nigerian women. Building on the successes of the 2023 inaugural edition, HAP 2.0 is specifically designed to address the “missing link” between learning a craft and successfully running a business in Nigeria’s current high-inflation economy. More Than Just Training: The 2.0 Enhancements According to Osita Ede, Fidelity Bank’s Divisional Head of Product…

Julian Kleber, CEO of the international marketing and communications firm Kleber Group, has officially launched the expansion of the Voice4Africa initiative, designating Nigeria as its strategic operational hub. Announced on Monday, February 23, 2026, the project aims to dismantle outdated global narratives and replace them with verified stories of African economic dynamism and youth-led transformation. With over 30 years of experience in luxury and destination branding, Kleber Group is pivoting to ensure that Africa’s “perceptions” finally align with its “measurable progress.” Redefining the African Narrative The initiative is designed to move beyond traditional portrayals by focusing on five core pillars:…

LAGOS — On Wednesday, February 25, 2026, Sterling Bank Limited convened a high-level summit of public and private sector leaders to finalize a strategy for transforming Nigeria’s cultural momentum into a structured, multi-billion dollar economic pillar. The engagement, held in the wake of Sterling Bank’s full recapitalization, signaled a shift from viewing tourism as “episodic entertainment” to treating it as a strategic infrastructure for job creation. The forum, attended by the Minister of Arts, Culture, Tourism, and the Creative Economy, Hannatu Musa Musawa, emphasized that while “Afrobeats and Nollywood” have opened the global door, only regulatory predictability and long-term capital…

Unilever Nigeria Plc and UNICEF announced a major milestone in their joint mission to close the youth unemployment gap. Their flagship initiative, The Future-X Unilever Campus Ambassadors Programme (FUCAP), has now reached over 900,000 young Nigerians, equipping them with the digital and entrepreneurial “survival kits” required for the 2026 labor market. The program serves as a critical localized engine for Generation Unlimited (GenU 9JA), a global partnership that was officially institutionalized under the Office of the Vice President in late 2025. From Learning to Earning: The FUCAP Model Managed by Unilever MD Tobi Adeniyi and UNICEF Lagos Chief Celine Lafoucriere,…

LAGOS — As the world shifts from the industrial to the computational age, a sobering 54th entry into our dossier warns that Nigeria and Sub-Saharan Africa face a new “Intelligence Divide.” Unlike previous industrial revolutions, where latecomers could “catch up” by reverse-engineering machinery, the Artificial Intelligence (AI) Revolution relies on cumulative, high-tech infrastructure that cannot be easily imitated. According to latest analysis, the gap between AI-ready nations and those lagging is widening exponentially. For Nigeria to remain a global player, the conversation must shift from “innovation rhetoric” to the “foundational physics” of technology. The Anatomy of AI Readiness Artificial Intelligence…

LAGOS — In a move that provides the “missing infrastructure layer” for Nigeria’s energy transition, Casava, the nation’s first licensed digital microinsurer, has partnered with clean-tech finance leader Rivy to launch a dedicated suite of Green Insurance products. Announced on February 25, 2026, the partnership aims to eliminate the financial risks—theft, damage, and transit loss—that have long deterred SMEs from investing in solar energy. This collaboration arrives at a critical juncture: following the 2024 NERC tariff hikes, solar has become the most cost-effective power source for businesses, yet the high cost of hardware (up to ₦5 million per installation) has…

ABUJA — The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has officially launched the GROW Fund, a strategic financing window designed to bridge the gap between business training and capital. Unveiled on February 17, 2026, the fund is specifically targeted at 6,122 graduates of the Inspire-Create-Start-Scale (ICSS) programme, transforming them from “trained” to “bankable” entrepreneurs. Managed in partnership with Jaiz Bank, the initiative offers affordable, single-digit interest loans to help MSMEs acquire essential operational equipment like machinery, laptops, and renewable power solutions. The ICSS Journey: From Idea to Investment The GROW Fund is not a standalone grant but…

ABUJA — The newly established Federal Ministry of Livestock Development (FMLD) has unveiled an aggressive roadmap to transform Nigeria from a net importer of meat into a global powerhouse in the red meat market. During a 2026 budget defense session on February 20, Minister Idi Mukhtar Maiha revealed that Nigeria is currently missing out on an international red meat market valued at over N3.2 trillion ($2.1 billion) annually. Despite possessing one of Africa’s largest livestock populations, the Minister shared a startling statistic: 65% of the livestock consumed in Nigeria is currently imported. The 2026 strategy aims to reverse this trend…

Grey, the global fintech leader, has officially pivoted into the B2B space with the launch of Grey Business, a multi-currency platform designed to dismantle the barriers African startups face when transacting globally. Unveiled on February 10, 2026, during the Africa Tech Summit, the platform aims to capture a slice of a cross-border payments market projected to exceed $1 trillion by 2035. The launch, supported by industry titans Paystack and Antler, moves Grey from being a tool for freelancers to a comprehensive “Global Operating System” for African enterprises. Banking Without Borders: Key Features Grey Business provides a single interface for African…

In a milestone for the African blockchain ecosystem, Quidax, the first crypto exchange to receive a provisional operating license from SEC Nigeria, has announced a strategic partnership with the Lisk Layer 2 (L2) blockchain. This collaboration creates a direct, regulated link between Nigeria’s established digital asset infrastructure and one of the world’s most developer-friendly L2 networks. A Gateway for Retail and Developers The Quidax-Lisk alliance is designed to serve two distinct but interconnected audiences: For Everyday Users: Quidax customers can now move value—particularly stablecoins—on the Lisk network. This enables faster, cheaper transactions compared to traditional Layer 1 networks, solving the…

LAGOS — Nigeria’s commercial nerve center is currently grappling with a “ticking time bomb” in its real estate sector. According to a state-of-the-emergency alert issued on Sunday, February 22, 2026, by the Housing Development Advocacy Network (HDAN), soaring rental prices are systematically pushing millions of hardworking Nigerians into housing poverty and severe financial distress. Barrister Festus Adebayo, Executive Director of HDAN, warned that the crisis has transcended simple market fluctuations and now threatens the social stability of the city’s workforce. The Anatomy of a Crisis: Why Rents are Skyrocketing The current surge is not accidental but the result of a…

ABUJA — A constitutional and operational crisis is brewing within Nigeria’s oil and gas regulatory framework following a new Executive Order from President Bola Tinubu. The directive, which mandates the immediate reallocation of all oil and gas revenues—including royalties and internally generated revenue (IGR)—directly to the Federation Account, has left agencies like the NUPRC and NNPC Ltd in a state of high uncertainty. The move effectively halts the “retention” model, where agencies kept a percentage of collections to fund their own operations, raising a fundamental question: Can an Executive Order override the Petroleum Industry Act (PIA)? The Statutory Tug-of-War: PIA…

LAGOS — Aliko Dangote has officially unveiled plans for a massive petrochemical expansion that will see the Dangote Refinery evolve into Africa’s primary producer of detergent raw materials. By manufacturing Linear Alkyl Benzene (LAB)—the essential ingredient that creates the “bubbles” and cleaning power in detergents—the complex is moving to replace 100% of West Africa’s current imports. The project, announced on February 21, 2026, represents a direct challenge to the supply chains of multinational giants like Unilever and PZ Cussons, who have historically relied on foreign feedstocks to produce their soaps and cleaning agents. Doubling the Continent’s Output The scale of…

LAGOS — Sir (Dr.) Kessington Adebukunola Adebutu, the billionaire industrialist widely known as “Baba Ijebu,” recently marked his 90th birthday with a landmark autobiography titled Legacy in Motion: The Quiet Power of a Nigerian Icon. Launched on October 24, 2025, the book has quickly become a manual for “perpetual hope” and a blueprint for ethical entrepreneurship in Nigeria’s 2026 economic landscape. Far from being just a story of wealth, the book explores the philosophy of the man who transformed a “stigma-filled” gaming industry into a vehicle for national development and philanthropy. The “Diligence” Blueprint For the younger generation—particularly those under…

LAGOS — The story of Adeola Adeyemi, popularly known as Diiadem, has evolved from a teenage model and video vixen into a powerful narrative of resilience, high-stakes entrepreneurship, and global luxury. Born in 1991 to a Yoruba-Igbo household, Diiadem’s formative years in the streets of Bariga, Lagos, now serve as the humble prologue to her presence in international luxury circles. Her 2026 trajectory highlights a significant shift: African beauty entrepreneurs are no longer just consumers of luxury; they are partners in shaping it. The London Engagement: Diamonds and Beauty Strategy In a high-profile visit to the Dorchester Hotel in…

LAGOS — The career of Engr. Joshua Oyakhilomhen serves as a blueprint for the modern Nigerian “technopreneur”—a professional who bridges the gap between manual technical expertise and high-level business management. From his roots in Uromi, Edo State, Oyakhilomhen has built a diversified empire that spans the structural integrity of the construction sector and the fast-paced logistics of the automotive industry. His journey is marked by a “bottom-up” approach, starting with a foundational education in brick and concrete laying at a Federal Technical College before advancing to his current standing as a versatile engineer and CEO. Construction: From Foundation to Finish…

ABUJA — In a landmark diplomatic and economic move, the Government of Japan and the Nigerian Sovereign Investment Authority (NSIA) have signed a grant contract to develop a support environment for startups tackling social challenges. This initiative, part of the newly launched Startup Support Fund, marks the first time Japan has implemented this specific development model anywhere in the world. The project, facilitated through the Japan International Cooperation Agency (JICA), is designed to combine Official Development Assistance (ODA) with private capital to mobilize finance for high-impact Nigerian ventures. A Global First for Japan’s Foreign Policy Ambassador Suzuki Hideo emphasized that…

LAGOS — The DeRenaissance Patriots Foundation has raised an alarm over the rapid transformation of traditional marketplaces into modern plazas, warning that the current “glass tower” approach to urban renewal is erasing the very mercantile heritage that built Lagos. In a statement released on Sunday, February 22, 2026, the group argued that the city is witnessing “displacement disguised as modernization.” The foundation highlighted that while new multi-storey complexes are rising, the original traders—the backbone of the city’s grassroots economy—are being priced out and pushed into informal street trading. The Soul of Lagos Commerce The foundation traced the identity of Lagos…

LAGOS — While many focus on the macroeconomic hurdles of 2026, Ajilore Obafemi Samuel, founder of DGW and the logistics startup Errand Boy, is championing a narrative of aggressive optimism. Samuel argues that Nigeria’s large population and expanding urban centers remain “goldmines” for entrepreneurs, provided the government can bridge the gap between opportunity and infrastructure. Samuel’s perspective is rooted in personal sacrifice; he famously sold his car while living in Dubai to raise the seed capital for DGW—a move he views as a strategic bet on the Nigerian market’s long-term viability. The “Predictability” Gap According to Samuel, the missing ingredient…