Author: Gift Ifeanyi

Nigeria’s economy is at a crossroads. Despite being Africa’s largest market and resource hub, its manufacturing sector contributes only 9.62 per cent of GDP—well below the global leaders such as China (≈30 per cent) and even below South Africa, Africa’s best performer at 13 per cent. This shortfall is not merely a number; it is the missing link in Nigeria’s quest for sustainable growth, job creation, and stronger global trade competitiveness. From Raw Materials to Finished Products The question Nigeria must confront is straightforward: what exactly are we exporting, and in what form? Today, much of the country’s exports are…

Access Holdings Plc has appointed seasoned banker Innocent Ike as its new Group Managing Director/Chief Executive Officer (GMD/CEO), effective 29 August 2025, following regulatory approval. The announcement, signed by the Company Secretary Sunday Ekwochi, confirmed that Ike’s appointment aligns with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies (2023), which caps the number of board directors at nine. His emergence follows the resignation of Roosevelt Ogbonna from the board as Non-Executive Director after three and a half years of service. Ogbonna, however, will continue in his role as Managing Director/CEO of Access Bank Plc, the Group’s…

For Nigerian tech founders seeking to take their startups global, Canada’s Startup Visa (SUV) program presents more than just an immigration pathway — it’s a strategic business opportunity. Launched in 2013, the program is designed to attract innovative entrepreneurs, giving them a chance to build globally competitive businesses while securing permanent residency in Canada. What Makes the Startup Visa Unique? Unlike traditional work permits, the SUV integrates immigration with entrepreneurship. Founders don’t have to choose between moving first and building later — both happen in parallel. The core requirement: an innovative business idea that solves a real problem and demonstrates…

When Alhaji Alkasim Usman opened a small jewellery shop in Jos more than three decades ago, he could hardly have imagined the brand that would emerge. What began as a modest family business has grown into a household name with multiple branches across Plateau State and Abuja, celebrated for its craftsmanship, artistry, and trustworthiness. Today, that legacy is in the hands of his son, Alkasim Usman Jr., a 29-year-old entrepreneur who blends inherited values with modern innovations to keep the family brand shining. Born in September 1995, Alkasim grew up watching his father’s commitment to honesty, transparency, and loyalty to…

Instead of viewing Nigeria’s electricity shortfall as a crisis, energy leaders are urging investors to see it as one of Africa’s biggest business opportunities. At the Lagos Chamber of Commerce and Industry’s 2025 International Business Conference & Expo, Ronald Adams, Chairman of All On and Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo), argued that closing the gap could unlock $10–20 billion in new investments. Adams noted that while more than 80 million Nigerians still lack access to reliable electricity, the unmet demand represents a thriving market for off-grid innovations like mini-grids, solar systems, and clean cooking…

Abuja is gearing up for a groundbreaking gathering this October as scientists, innovators, policymakers, and media leaders converge to rewrite Nigeria’s story in science and technology. From October 21–23, 2025, the African University of Science and Technology (AUST) in Abuja will host the maiden National Conference on Communicating Science, Technology, and Innovation (STI) — a three-day event designed to bridge the gap between research and real-world impact. Dr. Bosco Okolo-Obi, chairman of the Local Organizing Committee, said the conference aims to make science more accessible, understandable, and actionable, ensuring that research doesn’t just end in journals but translates into policies,…

Nigeria is raising the stakes in its digital economy by rolling out stricter Value Added Tax (VAT) rules that directly target global platforms — from Netflix and Spotify to Amazon Web Services and online marketplaces. Signed into law by President Bola Tinubu under the Nigeria Tax Act, 2025, the reforms require non-resident providers of digital services consumed in Nigeria to register with the Federal Inland Revenue Service (FIRS), charge 7.5% VAT, and remit it locally. The move places Nigeria in line with more than 120 countries that now tax foreign digital services, signaling that Africa’s largest economy wants to capture…

Running a business without proper data is like driving blindfolded—you might move forward, but disaster is almost certain. Unfortunately, that’s the reality for many small and medium enterprises (SMEs) in Nigeria. While the economy is tough, one overlooked reason so many SMEs collapse is bad decision-making fueled by poor or non-existent business intelligence (BI). Owners often blame inflation, power shortages, or government policies. But behind the scenes, weak data practices—no financial records, random hiring, ill-informed product launches—cripple their chances long before the economy does. Why Data Quality Is Make-or-Break Business intelligence only works when the data behind it is solid.…

Nigeria’s capital market is in the middle of a historic transformation. During his recent state visit to Brazil, President Bola Tinubu told the leadership of the Securities and Exchange Commission (SEC) and NGX Group that his administration’s reforms are turning the Exchange into a trusted engine of growth and positioning Nigeria as Africa’s premier investment hub. “Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation,” Tinubu said. From Reform to Results The results are already visible: Market values and trading volumes have nearly…

Africa’s ambition to feed itself took a bold step forward as Ethiopia sealed a landmark partnership with Nigeria’s Dangote Group to establish a massive $2.5 billion fertiliser plant in Gode, southeastern Ethiopia. The project, unveiled by Prime Minister Abiy Ahmed, is designed to manufacture 3 million metric tons of fertiliser annually, a move expected to reduce the continent’s heavy reliance on imports and strengthen domestic food production. At the signing ceremony in Addis Ababa, Ethiopia’s state-owned Ethiopian Investment Holdings (EIH) confirmed that it will hold a 40% equity stake, while Dangote Group secures 60% ownership of the venture. For Africa’s…

Imagine walking into a store and finding designer shoes priced at less than half their value. Tempting, right? That’s exactly the situation in Nigeria’s stock market today. Fifteen companies — spanning banks, insurers, real estate, and industrials — are trading below the worth of their net assets. Their average price-to-book (P/B) ratio is just 0.60. In theory, investors are paying less than a company’s actual value. But here’s the catch: sometimes a discount means a deal, and sometimes it means the product is faulty. The Banks: Strength Hidden Behind Discounts Nigeria’s major banks — Zenith, UBA, Access, FCMB, ETI, and…

In Nigeria’s unpredictable economy, companies are constantly juggling inflation, interest rate swings, and limited access to capital. For many entrepreneurs, the real challenge isn’t ambition or opportunity—it’s securing the equipment and infrastructure needed to grow. Buying assets outright or relying on bank loans is increasingly unfeasible. With borrowing costs climbing as high as 25–35%, small and medium-sized enterprises (SMEs) are being priced out of traditional financing options. This is why leasing has become a lifeline. Instead of sinking scarce funds into heavy upfront investments, businesses are adopting flexible lease models that preserve cash flow while providing immediate access to tools…

Beyond the glamour and celebration, weddings in Nigeria are quietly sustaining an entire ecosystem of entrepreneurs. From caterers and dressmakers to photographers, florists, and transport operators, each ceremony brings together concentrated spending, visibility, and opportunities that many small businesses depend on. For micro and small enterprises, weddings are more than just one-day events—they create steady income streams, act as free marketing platforms, and serve as launchpads for growth. A successful wedding gig often leads to repeat bookings, referrals, and stronger professional portfolios that keep entrepreneurs in business long after the last dance. Here are seven ways Nigerian weddings drive small…

Africa’s business landscape has always demanded grit, creativity, and vision. Two new books—one from Nigerian billionaire Femi Otedola, the other from Indian-born tech investor Prateek Suri—show how persistence in the face of uncertainty can turn obstacles into empires. Otedola’s Making It Big: Lessons from a Life in Business traces decades of navigating Nigeria’s unpredictable oil sector, financial crises, and regulatory battles. Suri’s Gateway to Africa: A Visionary’s Path to Business, Investment and Innovation in Africa tells a very different story—that of a digital pioneer betting on Africa’s innovation economy and building billion-dollar ventures across fintech, real estate, and technology. Different…

Nigeria stands at a crossroads where heritage must meet innovation. In this moment, few figures hold as much symbolic and practical weight as the Ooni of Ife and the Alaafin of Oyo. Beyond their crowns, these monarchs carry legacies that could be harnessed to drive unity, growth, and sustainability in a rapidly changing country. Guardians of History The Alaafin once ruled over an empire that stretched across West Africa, commanding military might and an administrative structure that influenced governance for centuries. His role has long embodied political power, diplomacy, and resource management. The Ooni, on the other hand, is not…

The Founder/CEO of Mediacraft Associates, widely recognized as JE, has spent more than three decades building an exceptional career that spans marketing, broadcasting, advertising, and public relations. Today, he stands as the Founder and Chief Executive Officer of Mediacraft Associates, Nigeria’s largest PR consultancy, employing over 50 professionals and serving as the nation’s exclusive partner of the FleishmanHillard global network. Ehiguese’s career took a decisive turn in 2003 when he established Mediacraft Associates after leaving his role as Account Director at C&F Porter Novelli. While at Porter Novelli, he played a pivotal role in managing communications for MTN during its…

The Students’ Union Government (SUG) of the Petroleum Training Institute in Warri, Delta State, has joined forces with the Resourceful Youth Network Initiative (RYNI) to host a national summit tackling Nigeria’s worsening unemployment challenge. The event, which took place virtually last Friday, carried the theme “The Unemployment Dilemma: Government or Citizens to Blame? Navigating the Job Crisis and the Future of Nigerian Youths.” Dr. Lawson Obasenu, Chief Executive Officer of RYNI, explained that the dialogue sought to push graduates and young professionals to confront the root causes of joblessness while exploring new pathways for economic growth. “This is not about…

While millions of Nigerians now have bank accounts, most still find it nearly impossible to access formal loans. The reason? Not just policy gaps — but a shortage of people who know how to lend responsibly. To tackle that problem head-on, the Financial Institutions Training Centre (FITC) has launched the Credit Academy, a new national programme aimed at building a generation of professionals who can bridge the country’s credit divide. “We’re not just teaching theory,” FITC said in a recent statement. “We’re building a workforce that understands how to deliver inclusive, sustainable credit.” Credit Access: A Numbers Game That Nigeria…

Nigeria’s national oil company says it has almost completely stamped out crude pipeline theft following years of crippling losses. According to NNPC Limited’s Chief Executive, Bayo Ojulari, the joint efforts of defence and intelligence units have restored confidence in the country’s petroleum network. Speaking at a regional security forum in Abuja, he noted that receipts from pipelines and terminals are now “close to 100%”—a dramatic turnaround from three years ago when less than a third of oil shipments survived sabotage and theft. The transformation is most evident in the Niger Delta, long the epicenter of oil-related criminal activity. Officials say…

For decades, Nigeria’s bustling markets have thrived on cash transactions, leaving millions of traders outside the formal financial system. But a new wave of outreach is quietly rewriting that story—bringing banking directly into open-air stalls, crowded aisles, and small kiosks. At Lagos Island and Tejuosho markets, financial officers from Digitvant Microfinance Bank are skipping boardrooms and skyscrapers to sit face-to-face with traders. The goal: to teach savings, provide access to small loans, and show how digital payments can secure businesses against theft and cash shortages. “Markets are the backbone of Nigeria’s economy,” said Florence Ogunyamoju, Managing Director of Digitvant. “When…