Author: Gift Ifeanyi

In a move to bridge the gap between business education and financial support, the Development Bank of Nigeria (DBN) has launched the BizAid Reward4Learning programme. Part of the bank’s broader Entrepreneurship Training Programme (ETP), this initiative gamifies the learning process by offering cash and data rewards to MSMEs that show high engagement and academic excellence. The “Incentive” Model Recognizing that time is money for small business owners, DBN is moving beyond just providing “free courses” by offering tangible weekly and monthly payouts: Monthly Cash Rewards: 90 top-performing learners will receive ₦20,000 each month. These are awarded to those who achieve…

The Kwara State Government has taken a significant leap toward modernizing its education sector by training 50 teachers in high-demand tech skills. The four-day intensive program focused on Artificial Intelligence (AI), STEAM (Science, Technology, Engineering, Arts, and Mathematics), and digital entrepreneurship, aiming to bridge the gap between traditional teaching and the global digital economy. A Public-Private Synergy Held at the Educational Resource Centre in Ilorin, the initiative was a collaborative effort between the state government, Digital Innovation Schools Nigeria, and the Tech2Grassroots Africa Pilot Programme. The cohort included educators from both public and private schools, ensuring a uniform upgrade in…

In a bid to transform hobbyist bakers into corporate powerhouses, Munro Icing Sugar recently hosted an industry-defining event titled “Bakers Who Brunch: Rising Beyond the Oven.” Held at the Radisson Blu Hotel in Ikeja, the gathering signaled the brand’s shift from being a mere supplier to becoming a strategic partner in Nigeria’s multibillion-naira confectionery sector. From Passion to Profit: The Business of Baking The core message of the brunch was clear: technical skill is no longer enough to survive in the 2026 economy. Chineze Ibuoka, CEO of Honeysuckle Cakes, delivered a compelling charge to the audience, urging them to move…

In an era where African entrepreneurs are increasingly looking to scale beyond borders, the Goodnews Naija Podcast has announced an exclusive episode featuring Golibe, the pioneering founder of Sales School Africa. Premiering at 6 PM on April 8, 2026, the episode promises a deep dive into the mechanics of global sales and the digital future of the continent. The $10 Million Track Record Golibe isn’t just a theorist; he is a practitioner who has helped generate over $10 million in sales globally. Recently honored with the African Choice Award for his consistency, Golibe is widely credited with pioneering digital marketing…

Wema Bank is making sure its latest digital leap sounds as good as it feels. To mark the next phase of its pioneering digital platform, the bank has released the “ALAT: The Evolution” jingle—a melodic “clink” and rhythmic tune designed to capture the high-energy, seamless lifestyle of Nigeria’s tech-savvy youth. Shaping “How Banking Feels” According to the lender, the jingle isn’t just a marketing gimmick; it’s a sensory signal of a strategic shift. While everyday banking often feels routine or stressful, Wema Bank is using this sound to reimagine the user experience as lively, confident, and responsive. A Soundtrack for…

The Stanbic IBTC Nigeria Business Summit 2026 transformed Lagos into a high-octane war room last week, bringing together the nation’s “purse strings” and its most ambitious entrepreneurs. Under the theme “Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade,” the event served as a critical pulse check for an economy shifting from “survival mode” to “growth acceleration.” The Treasury’s “State of the Union” Delivering a virtual keynote, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, declared that Nigeria has finally exited the period of “difficult adjustments.” Key indicators cited include: GDP Momentum: An uptick…

In a strategic move to solve the “office space crisis” for Nigerian entrepreneurs, The Alternative Bank has partnered with IWG (the world’s largest flexible workspace provider) to launch an integrated ecosystem for small businesses. The partnership aims to establish six to eight new workspace locations annually, creating a nationwide network where banking and business operations live under one roof. The “Single Ecosystem” Model The collaboration moves away from traditional banking by offering a “one-stop-shop” for entrepreneurs. Instead of visiting a bank for a loan and then hunting for a costly office, SMEs can now access: Modern Work Environments: Fully equipped…

Nigeria has officially triggered one of its most aggressive moves to end the “perpetual darkness” cycle. By securing a deal with 15 major generation plants, the federal government is targeting the massive liquidity debt that has paralyzed the power sector for over a decade. This move is designed to stabilize electricity for 12 million customers and bring 4,484 megawatts of currently idle capacity back onto the grid. The “Power Players” in the Deal The settlement involves a “who’s who” of Nigeria’s business elite and state-owned entities, marking a rare alignment of private and public interests: Sahara Power Group: Owners of…

In a celebration of homegrown resilience and global expansion, Dr. Ifeyi Ezekiel Ibeh has been named the Anambra Businessman of the Year 2025 by the AMTY Awards. The honor recognizes a 25-year career defined by the transformation of modest startups into a diversified international conglomerate. The “Swiss Metro” Empire As the Founder and Group CEO of Swiss Metro Group Limited, Ibeh has built a portfolio that spans the essential arteries of the Nigerian economy. His leadership extends across several key entities: Building Materials: Through Swissmetrotile Roofing Systems and Swisstech Industries. Logistics & Shipping: Via Bestline Bonded Terminal. General Commerce: Through…

Just weeks ago, the Nigerian economy was celebrating a hard-won victory: headline inflation had cooled to 15.06%, food prices were stabilizing, and the Naira was holding its ground. However, the outbreak of the U.S.-Iran war on February 28, 2026, has sent a geopolitical shockwave through the country, threatening to erase a year’s worth of economic progress. The “Generator Tax” and Fuel Surges For small business owners like Salewa Tokunbo, a frozen food trader in Lagos, the war isn’t a distant headline—it’s a daily expense. Since the conflict began, the cost of doing business has transformed: Petrol (PMS): Jumped 63%, rising…

President Bola Ahmed Tinubu has issued a glowing tribute to his Special Adviser on Job Creation and MSMEs, Mr. Temitola Adekunle-Johnson, on the occasion of his birthday. In a statement released by the Presidency, Tinubu hailed the aide as a pivotal figure in the administration’s drive to turn small businesses into the primary engine of the Nigerian economy. The “478,000” Milestone The President didn’t just offer well-wishes; he used the occasion to highlight the tangible economic impact led by Adekunle-Johnson’s office. Key achievements mentioned include: Job Creation: Programs under his supervision have collectively generated approximately 478,000 jobs across the federation.…

In a unique blend of corporate strategy and ancient tradition, Nigerian Breweries (NB) PLC has launched an entrepreneurship scheme titled the “Nwa Boi Life Experience.” Unveiled at the Enyimba International Stadium in Aba, the initiative seeks to save the declining Igba Boi (Igbo apprenticeship) system by applying it specifically to the multibillion-naira beer distribution sector. Modernizing the “Master-Apprentice” Loop The Igba Boi system is the engine that built the commercial empires of Onitsha and Aba, but experts have noted a decline in interest among the newer generation. NB PLC, through its Life Lager brand, is stepping in to institutionalize the…

Nigeria’s banking titans—the FUGAZ group (First Bank, UBA, GTCO, Access, and Zenith)—are digging deeper into their pockets to retain talent. New financial data from the Nigerian Exchange (NGX) reveals that the country’s five most systemically important banks collectively spent ₦1.23 trillion on personnel expenses in their latest reporting periods. The “Inflation Hedge” Adjustment The surge represents an 18% year-on-year increase (roughly ₦190 billion) from the ₦1.04 trillion spent in 2024. Analysts point to a “triple threat” driving these costs: Hyper-Inflation: Banks have been forced to implement mid-year salary adjustments to help staff cope with the rising cost of living. The…

In a massive win for Nigeria’s diplomatic and economic standing, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has officially launched the D-8 SME Centre in Abuja. Nigeria will host the hub on behalf of the “Developing-8” (D-8) bloc—an alliance including Bangladesh, Egypt, Indonesia, Iran, Malaysia, Pakistan, and Turkiye. The $500 Billion Ambition The scale of this initiative is staggering. The D-8 Secretary-General, Isiaka Abdulqadir Imam, revealed a bold roadmap to transform the bloc’s economic trajectory: Trade Explosion: The group is targeting an increase in intra-bloc trade from the current $145 million to a massive $500 billion in…

It has been a whirlwind week for Nigerian macroeconomics and regulation, with major moves in energy debt, data security, and national reserves. Here are the five key stories you need to know: 1. The ₦3.3 Trillion Power “Reset” In a massive move to unstick Nigeria’s struggling energy value chain, President Bola Tinubu has approved a formal payment plan to settle ₦3.3 trillion in legacy debts within the power sector. This debt has been a “choke point” for over a decade, preventing GenCos and DisCos from reinvesting in infrastructure. The move is part of the Presidential Power Sector Financial Reforms Programme…

In a revealing interview, Adewale-Smatt Oyerinde, Director-General of the Nigeria Employers’ Consultative Association (NECA), has raised a red flag over a “disturbing disconnect” in the Nigerian financial system. Despite a surge in national foreign reserves and cooling inflation, the “real economy”—comprising manufacturers and SMEs—is currently gasping for air due to a lack of affordable credit. The “Liquidity Paradox” Explained Oyerinde highlighted a startling trend where commercial banks are “awash with cash” but refuse to lend to productive sectors. Over-Subscription: In a recent Treasury Bill auction, investors bid ₦4.4 trillion for securities worth only ₦800 billion—a 400% over-subscription. Government Over Private:…

In the fight against Africa’s rising unemployment, Mólly Ephraim Academy has emerged as a high-impact engine for early-stage enterprise. Founded by Nigerian entrepreneur Mólly Ephraim, the academy is moving beyond theory to provide a “triple threat” of affordable education, practical mentorship, and direct funding for the continent’s youngest dreamers. The “Project 1000” Milestone Since its inception in 2016, the academy’s flagship initiative, PROJECT 1000, has been a catalyst for cross-border growth. The program has successfully: Trained over 1,000 young entrepreneurs across Nigeria, Ghana, Benin Republic, and Togo. Driven SDG 1 (No Poverty): By focusing on “attainable” entrepreneurship, the program helps…

In a major move to decentralize diplomacy and turbocharge northern commerce, the Turkish Ambassador to Nigeria, Mehmet Poroy, has announced the imminent opening of a Turkish Visa Application Center in Kano. The initiative is designed to strip away the bureaucratic hurdles facing Northern Nigeria’s elite business class, who previously had to trek to Abuja for travel permits. The $5 Billion Target The announcement follows a high-level meeting with the Kano business community and forms a core part of the fallout from President Bola Ahmed Tinubu’s official visit to Turkey in January 2026. The strategic goal is ambitious: Trade Surge: Shifting…

A potential game-changer for Nigeria’s 40 million small businesses has arrived. CycleFlow, a digital working capital platform backed by a $30 million investment from the International Finance Corporation (IFC) and powered by global fintech C2FO, has officially launched in Lagos. The platform aims to solve the “collateral crisis” that has long stifled Nigerian entrepreneurs by using a simple but revolutionary concept: turning verified invoices into immediate liquidity. The “No-Collateral” Breakthrough For most MSMEs, waiting 30 to 90 days for a large corporate buyer to pay an invoice is a death sentence for cash flow. CycleFlow changes the rules: Invoice Discounting:…

In a major win for Nigeria’s “Edu-Tech” ecosystem, a team of software engineering alumni from Nile University of Nigeria has clinched the grand prize at the 2026 Student Venture Capital Grant (SVCG) Competition. Their startup, Refree-G, walked away with ₦50 million in funding from the Federal Ministry of Education, solidifying its status as a top-tier innovative venture. The Pivot to Transparency Refree-G didn’t start as a general crowdfunding tool. Originally designed to assist with refugee integration and food security, the nine-member team identified a broader systemic problem: a lack of trust in social financing. The Solution: They built a scalable…