Author: Gift Ifeanyi

A new report from civic tech organization BudgIT, titled ‘The State of Women’s Economic Empowerment in Nigeria,’ exposes a critical paradox: while women make up more than half of the informal workforce in 29 out of Nigeria’s 36 states, the financial systems meant to support them are fundamentally failing. The report reveals a widespread failure by state governments to implement budgeted funds for women entrepreneurs, creating a severe funding gap that sidelines the majority of the nation’s informal economic drivers. The informal sector—economic activities not officially regulated or registered—accounts for a huge portion of Nigeria’s economy, with women comprising up…

Nigeria has launched a decisive campaign to convert a massive environmental hazard—gas flaring—into a powerful economic and energy asset. Under the Nigerian Gas Flare Commercialisation Programme (NGFCP), the government has awarded permits to 28 companies to capture and commercialise gas that was previously burned off as waste by the oil industry. This initiative is a critical step in harnessing Nigeria’s vast gas reserves, which historically have been flared because capturing them was deemed commercially unviable. The NGFCP is poised to unlock up to US$2 billion in foreign investment and create over 100,000 direct and indirect jobs. Monetizing Methane: Economic and…

The second annual NBA Africa Triple-Double Accelerator program has concluded, celebrating a new cohort of entrepreneurs who are reshaping the future of sport and entertainment across the continent. The program, an initiative by the National Basketball Association’s affiliate, NBA Africa, is proving to be a critical catalyst for innovation in the African tech ecosystem. Clare Akamanzi, CEO of NBA Africa, praised the participants, stating that the organization continues to be “amazed by the creative, talented and passionate entrepreneurs” involved. The Game-Changing Startups The program culminated in a Demo Day, where the finalists presented solutions spanning fan engagement, sports data, and…

Nigeria’s sweeping tax reforms of 2025 are poised to introduce a massive new stream of government funding, with the recently signed Development Levy projected to generate nearly N1.9 trillion in its first year. The levy, set to take effect on January 1, 2026, is designed to be one of the Federal Government’s most rapidly growing non-oil revenue sources over the medium term. Details seen in the 2026 Budget Call Circular reveal aggressive financial targets for the new tax: Year Projected Development Levy Collection Percentage Growth (from 2026) 2026 (Launch Year) N1.899 trillion — 2027 N2.41 trillion ≈27% 2028 N3.13 trillion…

In a bold move signaling deeper economic independence, the military-led governments of Mali, Burkina Faso, and Niger have officially launched a new regional investment bank.4 Capitalized at $500 billion CFA francs (approximately 895$ million), the bank is a centerpiece of the three nations’ strategy to take greater control over their own development and reduce reliance on foreign aid and institutions like ECOWAS. The primary mission of the new lender is to finance crucial infrastructure, energy, and agricultural projects across the region, which is currently grappling with political instability, climate pressures, and a widening insurgency. Mining Riches for Regional Growth The bank…

Nigeria’s incoming tax laws, scheduled for implementation in January 2026, are set to deliver substantial relief to small businesses and low-income earners, according to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.3 The comprehensive reforms aim to empower Nigerians and address years of “multiple taxes” that crippled the informal sector—which Oyedele described as the “backbone of development. Zero Tax for Small Businesses The most significant change targets the corporate tax structure to incentivize formalization and growth: Zero Company Income Tax (CIT): Companies with an annual turnover below 100$ million will pay zero CIT. Reduced CIT:…

As 2025 concludes, the Nigerian fintech ecosystem is defined by accelerated growth and increased global reach. A review identified the top five startups whose milestones and transaction volumes profoundly impacted the Nigerian and international markets, setting a new bar for the coming year. Here are the top Nigerian fintechs of 2025: 1. Moniepoint: The Unicorn of Physical Payments Moniepoint solidified its unicorn status by focusing on reliability and scaling its agent network. Key 2025 Milestones Metric Impact Transaction Volume N1 trillion processed monthly, across 1 billion transactions. Rapid growth from 800 million monthly transactions in late 2024. Market Share 7…

GTCO Plc is bringing its flagship Food & Drink Festival to the heart of the festive season with the announcement of a maiden Holiday Edition, set to take place on December 20–21, 2025, at the GT Centre, Oniru, Lagos. This special initiative is a core part of the Group’s commitment to corporate social responsibility, community development, and promoting enterprise.** By introducing the Festival into the festive season, GTCO is deliberately repositioning the platform as more than a culinary showcase. The Holiday Edition is designed as a shared family experience that brings people together, celebrates African creativity, and creates economic opportunities…

The Nigerian Institute of Public Relations (NIPR), the statutory body regulating all PR professionals in the country, has formally inducted Ayobami Eruobami, Founder and CEO of Erumedia Group and Erumedia Charity Trust, into its professional fold. The ceremony, held on December 12, 2025, in Abuja, serves as a major professional milestone, validating Eruobami’s expertise, ethical commitment, and contribution to the communications industry. The induction positions Eruobami as a key industry leader, committed not only to raising the bar for PR excellence but also to leveraging strategic communication for social good. A Career Blending Business Acumen and Social Impact Ayobami Eruobami…

A major push to empower women in Nigeria’s transport sector is underway, with CreditCorp confirming the upcoming launch of its “10,000 Women in Mobility” initiative. The official event is scheduled for December 12, 2025, at Eagle Square in Abuja. The programme is specifically designed to support women whose livelihoods are dependent on mobility-based work by significantly improving their access to sustainable finance and essential assets. The initiative is a crucial step towards building a more inclusive mobility sector. It focuses squarely on female entrepreneurs operating within the transport and logistics value chain, including those who rely on motorcycles, tricycles, vehicles,…

The 10X Business Summit Abuja has officially made history as the first 10X event ever held on the African continent, marking a groundbreaking moment for entrepreneurship and high-performance business growth. With over 200 participants joining both in-person and virtually from Nigeria and abroad, the summit delivered a transformational experience that is set to ignite a powerful new movement in the region. The event successfully brought together global expertise and African entrepreneurial ambition, co-hosted by two certified 10X business coaches: Theo Godson: Nigeria’s First 10X Business Coach. Dr. Judith Okafor: A United States–based Certified 10X Business Coach with 28 years of…

The Sahara Group Foundation, the social impact division of the international energy and infrastructure conglomerate, has launched the Sahara Community Impact Project (SCIP). This new national initiative is designed to transform communities by deploying resources, skills, and opportunities directly into local ecosystems, focusing on collective action and entrepreneurship. SCIP aims to build the foundation for truly sustainable, locally led economic growth by leveraging Sahara’s “EXTRApreneurship” model—a unique approach that empowers individuals while reducing resource waste. The SCIP Hub Model Chidilim Menakaya, Director of the Sahara Group Foundation, announced that SCIP will establish specialized Community Business Hubs that will act as…

Nigeria’s First Lady, Senator Oluremi Tinubu, has reaffirmed her dedication to youth empowerment by commissioning ten new Digital Learning Centres across the country.3 Implemented under the Renewed Hope Initiative (RHI), the project aims to equip young Nigerians with the essential tools and knowledge needed to thrive in the modern digital economy. The initiative, a collaboration with the National Information Technology Development Agency (NITDA), is a direct effort to promote technological literacy and bridge the gap between education and employability nationwide. Nurturing the Digital Generation The centres were inaugurated virtually from the State House, Abuja, and are strategically located in: Abia…

Parallex Bank has reinforced its commitment to youth empowerment and financial inclusion by strongly supporting the Skills Acquisition and Entrepreneurship Development (SAED) programme for the 2025 Batch C Corps Members across nine orientation camps, including Lagos, Rivers, Delta, and Abuja. As a core Corporate Social Responsibility (CSR) initiative, the bank played a leading role in nurturing entrepreneurship by sponsoring select categories of the Inter-Platoon SAED Competition. Rewarding Emerging Talent The competition featured impressive exhibitions of skills across diverse categories, including fashion design, cake baking, bead-making, cosmetology, and waste-to-wealth crafts. Parallex Bank awarded substantial cash prizes to the top three emerging…

The Adamawa State Government, in collaboration with the Nigeria Export Promotion Council (NEPC), is making a significant push to integrate its local businesses into the African Continental Free Trade Area (AfCFTA) protocol. Yesterday, at a capacity training workshop in Yola, 150 Small and Medium Enterprises (SMEs) were presented with official export certificates. Mr. Anani Egon, NEPC’s North-East Regional Coordinator, explained that the workshop and the certificates are designed to build the capacity of profiled SMEs on the necessary procedures and requirements for trading under the AfCFTA agreement, enabling them to expand into regional and continental markets. State Government’s Financial Commitment…

The House of Representatives has made a powerful call to the Federal Government to cancel all unpaid COVID-19 survival loans given to vulnerable households and small businesses. Citing rising default rates due to severe economic hardship, the lawmakers argued that continued repayment is unrealistic for millions of struggling Nigerians. The demand, moved by Hon. Musa Saidu Abdullahi, follows the revelation that as of September 2023, N378.03 billion remained outstanding from the N419.42 billion COVID-19 Targeted Credit Facility. This represents approximately 62% of the total loan amount given out to 792,936 beneficiaries, including 674,972 households and 117,964 small businesses. The initial…

The Federal Government has unveiled the Polytechnic Foundation, a major national initiative designed to radically transform the country’s technical and vocational education system (TVET). The foundation’s primary goal is to position polytechnics as robust drivers of innovation, creativity, and applied research, thereby strengthening Nigeria’s push for a modern economy. Announcing the launch in Abuja, the Minister of State for Education described the foundation as a movement to ensure polytechnics can effectively power growth in crucial sectors, including: Manufacturing Engineering Digital Technology Renewable Energy Agriculture Transportation The Minister stressed that increasing investments in STTEMM (Science, Technology, Engineering, Mathematics, and Medicine) and…

Nigeria’s total merchandise trade gained momentum in the third quarter of 2025, reaching a robust N38.94 trillion, an uplift from both the previous year and the preceding quarter. Despite the overall positive trajectory, the country’s trade surplus narrowed as a steady rise in imports met a slightly firmer rebound in exports, according to the latest data from the National Bureau of Statistics (NBS). Exports remained the cornerstone of the trade basket, valued at N22.81 trillion (nearly three-fifths of total trade), driven primarily by stronger crude shipments and a jump in non-oil raw material exports. The Crude Gravity and Non-Oil Headwinds…

PZ Cussons has dramatically reversed its previous plans to strategically review and potentially sell its Africa operations, announcing ambitious growth plans for the continent, with a strong focus on Nigeria. The company had signaled in April 2024 its readiness to sell its 50% equity stake in non-core edible oils business, PZ Wilmar Limited. However, following a comprehensive review of the entire Africa portfolio, the Board concluded that offers received “did not reflect the inherent value of the business.” Nigeria: The Anchor of Growth The decision to retain the business is anchored on the significant long-term opportunity in Africa, specifically citing…

The Federal Government has initiated a sweeping reform to transform its domestic gas market, issuing the country’s first-ever Gas Trading Licence to JEX Markets Limited. This landmark move, overseen by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is designed to clean up opaque pricing practices, deepen market liquidity, and position Nigeria as West Africa’s leading gas trading hub. The licence includes authorization for JEX Markets to operate a Clearing House and Settlement system, establishing a core financial-market infrastructure that will guarantee payment and standardize wholesale gas transactions among buyers and sellers. Addressing the 209 TCF Paradox Despite holding…