Author: Gift Ifeanyi

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…

LAGOS — Nigeria is moving to end its reliance on “imported” Artificial Intelligence, warning that off-the-shelf models trained on foreign data risk misclassifying African users and undermining national sovereignty. At the Innovate AI 2026 conference in Lagos, a powerful coalition of policymakers, fintech leaders, and academics declared that the era of passive adoption is over. The central theme of the summit was clear: If Nigeria does not build its own AI architectures, it risks a new form of “digital colonization” where critical decisions—from credit scoring to news dissemination—are governed by biased, non-representative algorithms. The Inclusion Crisis: Why Foreign Data Fails…

LAGOS — The Nigerian Naira reached a significant milestone during the week ending February 20, 2026, achieving its strongest level of price convergence in two years. Driven by a surge in external reserves and a strategic policy shift by the Central Bank of Nigeria (CBN), the gap between the official and parallel market rates effectively collapsed, rewarding patient savers and punishing currency speculators. By Friday, the parallel market closed at ₦1,340/$, slightly stronger than the official Nigerian Foreign Exchange Market (NFEM) rate of ₦1,346.32/$. The Numbers: A Week of Appreciation The week was characterized by “speculative flight,” as dollar holders…

LAGOS — In a historic announcement that could redefine the Nigerian capital market, Aliko Dangote has revealed plans to open up ownership of the Dangote Petroleum Refinery to the public. Speaking on Saturday, February 21, 2026, during a high-profile facility tour with the NNPC Ltd leadership, Dangote confirmed that Nigerians will be able to purchase shares in the multi-billion dollar project within the next four to five months. This move is expected to democratize the wealth generated by Africa’s largest industrial hub and provide a significant boost to the Nigerian Exchange Group (NGX). The “Dollar Dividend” Promise One of the…

LAGOS — Nigerian businesses are currently “sitting on goldmines of data and walking away empty-handed,” according to Ganiyat Olajumoke Abe, a prominent Data Analyst and Business Intelligence professional. In a recent industry briefing on February 21, 2026, Abe warned that the country’s enthusiastic embrace of data collection has not yet translated into effective data utilization. Abe, whose career spans the telecoms, consulting, and education sectors, argues that for many Nigerian firms, data has become an operational liability rather than a strategic asset. From Spreadsheets to Strategy: The Productivity Gap Abe highlighted a disconnect in Nigerian boardrooms where data is often…

LEKKI — On February 19, 2026, Carloha Nigeria—the authorized dealer for Chery—officially disrupted the Nigerian commercial vehicle market with the launch of the Chery Himla. Unveiled at Orange Island, Lekki, the Himla is being positioned not just as a vehicle, but as a “high-efficiency mobile business asset” tailored for the country’s expanding agriculture, logistics, and security sectors. As Nigerian businesses face rising operational costs, the Himla enters the market with a “one-trip” philosophy, designed to maximize payload while minimizing fuel and time expenditure. Engineering for the “One-Trip” Economy The standout feature of the Himla is its 1,276-liter cargo bed, which…

LAGOS — In a move to bridge the gap between academic theory and industrial reality, the Nile Business School (NBS), the specialized business arm of Nile University of Nigeria, recently led a high-level delegation of Executive MBA students and faculty to the Dangote Petroleum Refinery in Lagos. The visit, described by observers as a “classroom without walls,” signals a pivot in how the next generation of African leaders is being trained—prioritizing local case studies over imported academic models. “Practice-First” Learning Prof. Noel Tagoe, Dean of Nile Business School, highlighted a critical flaw in traditional African business education: the over-reliance on…

LAGOS — Guinness Nigeria Plc has officially returned to profitability, marking a dramatic turnaround in its first full audited reporting cycle since being acquired by the Tolaram Group. In a report released on February 20, 2026, the company revealed a net profit after tax of ₦41.2 billion for the 18-month period ending December 31, 2025. This performance represents a significant recovery from the ₦54.7 billion loss reported in the previous 12-month financial year, signaling that the brewery’s “Legacy of 75 Years” is entering a new era of financial health. The 18-Month Transition To align with its new ownership and a…

LAGOS — As Nigeria navigates its 2026 economic landscape, a quiet but powerful transformation is occurring in the nation’s “energy dark spots.” All On, the off-grid energy impact investor, has released a landmark Impact Report detailing how decentralized renewable energy is successfully bypassing the struggling national grid to power the engine of the Nigerian economy: its small businesses and rural communities. Since its inception in 2016, All On has evolved from a startup financier into a systemic architect, moving nearly half of the country’s previously unserved population toward the goal of universal energy access. Powering the “Productive Use” Economy The…

KATSINA — The Katsina State Government has announced a massive ₦31 billion intervention package within its 2026 fiscal framework, specifically targeting small businesses, young graduates, and vulnerable households. The Commissioner for Budget and Economic Planning, Alhaji Malik Anas, revealed the details during a briefing in the state capital, noting that the allocations are the cornerstone of Governor Dikko Umaru Radda’s “Building Your Future” agenda. ₦10 Billion for MSME Expansion In a move to decentralize industrial growth and stimulate local production, the state has earmarked ₦10 billion exclusively for Micro, Small and Medium Enterprises (MSMEs). The Goal: To expand access to…

LAGOS — A new era of Transnational Education (TNE) has officially taken root in Nigeria. The Bridging Borders Project, supported by the British Council, recently showcased the results of a high-impact collaboration between the University of the West of England (UWE Bristol) and three of Nigeria’s premier academic institutions: the University of Lagos (UNILAG), University of Ibadan (UI), and Covenant University. The initiative, led by Prof. Pascal Anosike, aims to move entrepreneurship education (EE) beyond the classroom and into the realm of global best practices, ensuring Nigerian graduates are not just job seekers, but globally competitive job creators. Formalizing Global…

ADDIS ABABA — In a strategic move that underscores the growing interconnectivity of African markets, Nigerian industrialist Aliko Dangote has joined forces with the International Finance Corporation (IFC) to back a $10 million risk-sharing facility for Ethiopia’s Dashen Bank. Announced on February 17, 2026, this partnership is designed to tackle the “credit crunch” facing Small and Medium Enterprises (SMEs) in Ethiopia. By providing a safety net, the agreement allows Dashen Bank—one of Ethiopia’s leading private lenders—to lend more aggressively to high-potential but underfunded sectors. The Mechanics of Risk-Sharing The facility operates through an unfunded risk-sharing guarantee. The IFC, with support…