Author: Gift Ifeanyi

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…

The Aurora Tech Award, a prestigious global initiative focused on women-led tech startups in developing economies, has officially announced its “Top 100 Founders to Watch” for 2026. The selection comes after a record-breaking year for the organization, which saw applications jump from 2,018 in the previous cycle to a staggering 3,400 submissions from 127 countries. Nigeria, Kazakhstan, and Kenya led the pack in terms of application volume, signaling a vibrant era of female entrepreneurship across Africa, Central Asia, and Latin America. Key Industry Trends: Healthtech and Fintech Dominance The 2026 cohort highlights where female innovators are focusing their efforts to…

In a landmark move for financial literacy on the continent, global cryptocurrency exchange Luno has teamed up with AltSchool Africa to provide comprehensive, free-of-charge digital asset education to 15,000 Nigerians. The program, dubbed “Demystifying Crypto for Africans,” is currently being recognized as the most extensive educational campaign of its kind in Africa. As digital finance continues to evolve rapidly, the partnership seeks to transform perceived market risks into concrete economic advantages by providing a structured, formal learning path for the public. Program Structure and Enrollment The initiative is designed to be accessible yet rigorous, targeting adult Nigerian residents (18+) who…

In a major push to harness the immense potential of Nigerians living abroad, the Nigerians in Diaspora Chamber of Commerce (NiDCC) recently launched its ambitious ‘Grand Project’ in Lagos. This mid-to-long-term initiative is designed to act as a high-impact “deal platform,” matching the intellectual and financial capital of the diaspora with local opportunities to accelerate Nigeria’s economic transformation. During the Business Summit themed “The People, The Business, and the Future of Emerging Markets,” NiDCC President Patience Ndidi Ofure-Key emphasized that the chamber is moving beyond mere networking. The goal is to convert MoUs into active contracts and turn intent into…

CardinalStone Capital Advisers (CCA) is preparing for a major regional expansion with the launch of Growth Fund II, a $120 million private equity vehicle. This fund is designed to bridge the “missing middle” in West Africa, providing long-term capital to established, profitable small and medium-sized enterprises (SMEs) that have outgrown seed funding but lack access to traditional large-scale financing. Spearheaded by co-founder and Managing Director Yomi Jemibewon, the fund represents a strategic shift toward deepening the nascent private equity market in both Anglophone and Francophone West Africa. Strategic Objectives and Market Scope Building on the foundation of their first fund…

The Nigerian Export Promotion Council (NEPC) has announced that the first wave of financial grants from the $50 million Women Exporters in the Digital Economy (WEIDE) Fund will be disbursed in March 2026. This follows a rigorous training and compliance phase designed to ensure that the beneficiaries are not just recipients of capital, but are “export-ready” global competitors. Speaking at a year-end Town Hall Meeting in Abuja on December 17, 2025, NEPC CEO Nonye Ayeni emphasized that Nigeria is one of only four pilot countries globally—and the only one in Africa—selected for this prestigious World Trade Organisation (WTO) and International…

The Mandela Washington Fellowship Alumni Association of Nigeria (MWFAAN) recently collaborated with Lagos-based Pelse Consulting to host a transformative business and leadership dialogue. Titled “Dialogue that Matters: Building Businesses that Strengthen Communities,” the event served as a strategic platform to bridge the gap between global leadership insights and local entrepreneurial action. The gathering integrated the Mandela Washington Fellows Network with participants from the Amplifier Business Clinic—a flagship youth enterprise initiative by the Lagos State Ministry of Youth and Social Development. Strategic Highlights: People, Purpose, and Profit The dialogue emphasized that for Nigeria’s economy to remain resilient, small businesses must pivot…

A new player in the e-commerce sector, Hisell Technology, has officially entered the market to help small business owners escape the “fragile” cycle of relying solely on social media for sales. The platform acts as a unified digital infrastructure, integrating sales, marketing, and customer management into a single, stable dashboard. Developed as a direct response to the operational chaos of managing multiple apps, Hisell aims to provide Nigerian entrepreneurs with a “sovereign” platform where they own their customer data and control their destiny. The Problem: The “Social Media Suspension” Risk Founder Chidiebere Okpechi highlighted that while Instagram and Facebook are…

The Nigerian Federal Ministry of Youth Development has officially launched its flagship Financial Literacy and Investment Programme, a high-impact national initiative aimed at transforming the economic prospects of the nation’s youth. In a strategic alliance with global trading broker Hantec Markets and Investonaire Academy, the government seeks to bridge the gap between financial theory and practical wealth creation for over 100,000 young Nigerians every year. This government-backed initiative is designed to be more than just a classroom exercise; it is a structured pathway from education to capital access. Core Components of the Initiative The programme leverages a sophisticated Learning Management…

In a historic move for private philanthropy in Africa, the Aliko Dangote Foundation (ADF) has committed to investing ₦1 trillion ($688 million) over the next decade into Nigeria’s education sector. This massive financial injection aims to dismantle the systemic barriers keeping millions of Nigerian children out of classrooms and to pivot the nation’s academic focus toward the future of work. Starting in 2026, the initiative will launch with a cohort of 45,000 students, scaling up to support a staggering 1.33 million learners by 2035. Strategic Focus: STEM, Girls, and Teachers The foundation is not merely distributing funds; it is targeting…