Author: Gift Ifeanyi

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…

Nigeria’s sluggish economic growth is directly linked to its struggling supply chain industry, where high distribution costs and fragmented logistics systems act as severe headwinds. This was the key consensus at the BusinessDay Mobility & Logistics Conference 2025, where experts called for a radical shift towards integrated multimodal transport and modern last-mile delivery solutions. Obiora Madu, Director General of the Africa Centre for Supply Chain (ACSC), highlighted the devastating inefficiencies that plague the sector, which manifest as frequent stock-outs, delayed emergency responses, and rising food prices exacerbated by post-harvest losses. The Price of Inefficiency Madu’s keynote paper, ‘Reimagining Logistics as…

Nigeria is at a critical juncture in its national security strategy, necessitating an urgent shift from traditional defence approaches to technology-driven operations. This was the central message delivered at the closing ceremony of the NISECEXPO-DICON international defence and security exhibition in Abuja. Retired Major-General Victor Ezugwu, the former Director-General of DICON, commended the exhibition for creating a vital platform for collaboration between African nations and international partners like Israel and Ukraine. He stressed that a strong, well-structured defence manufacturing system is essential to confront security threats that are increasingly complex, technology-driven, and managed by non-state actors. The Technology Imperative Both…

PalmPay, one of Nigeria’s leading digital banking platforms, has reaffirmed its commitment to accelerating financial inclusion by prioritizing community-aligned solutions and customer-centric innovation. Speaking at the CeBIH yearly Conference 2025, PalmPay’s Managing Director, Chika Nwosu, urged industry stakeholders to recognize that inclusion must be “equitable and tailored to real-life needs.” Nwosu participated in a panel session focused on social inclusion, where he highlighted PalmPay’s dual-platform strategy for reaching Nigeria’s vast underserved and unbanked populations: Inclusion Tool Function Target User Group Agent Network 500,000 agents enabling seamless cash-in/cash-out services. Unbanked users, rural dwellers, and those lacking trust in fully digital platforms.…

Moving beyond the traditional conference rhetoric, the Heritage Collective convened an exclusive, action-focused roundtable in Lagos, marking the culmination of a year-long initiative that spanned major economic hubs from Abidjan to New York. The gathering, held during the MMC Trade Conference, was themed “Redefining Africa’s Economic Architecture: From Context to Capital.” The objective, as defined by Heritage Collective co-founder Habibah A. Waziri, was explicitly pragmatic: bring founders, investors, policymakers, and ecosystem builders into a deliberately small, high-trust environment to match identified opportunities with capital and capability, and leave with concrete commitments. A Launchpad for Continental Scale The roundtable treated Nigeria…

Factoring and Supply Chain Finance (SCF) have been identified as critical, yet underutilized, tools for building resilient value chains and closing Africa’s massive SME financing shortfall.2 At Afreximbank’s recent annual Factoring Workshop in Abidjan, Côte d’Ivoire, the bank issued a clear challenge: Africa must dramatically scale up factoring activity to unleash SME-led growth. Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank, noted that despite factoring volumes more than doubling from €21.6 billion in 2017 to €50 billion in 2024, current activity is still far below the continent’s potential. The Economic Imperative SMEs are the bedrock…

In a strategic push to bridge the critical visibility gap facing women entrepreneurs, the empowerment platform Queen Moremi has announced a landmark initiative: providing free Public Relations (PR) training to 5,000 Nigerian female SME founders in 2026. The program is a direct response to the escalating competitive pressures in Nigeria’s business landscape, particularly the rise of sophisticated digital branding and AI-driven content. While Nigerian women lead over 41% of micro-businesses and 32% of MSMEs—making them the backbone of local economies—many struggle with limited PR knowledge, restricted networks, and the high cost of communications expertise. The Imperative of Visibility Nigeria’s SME…

Nigeria is poised for a significant economic turnaround in 2026, according to a highly optimistic forecast by economist Bismarck Rewane, Managing Director of Financial Derivatives Company (FDC). Rewane describes 2026 as a “defining year” where structural reforms, private-sector expansion, and stabilizing monetary conditions will converge, driving the country into a more durable cycle of growth—its strongest economic footing in more than a decade. The projected boom is anchored on a combination of factors intended to resolve years of high inflation (which peaked over 34%) and crippling exchange-rate volatility. The Capital Market Surge The capital market is projected to be a…

Nigeria’s remittance sector is undergoing a profound structural shift, with inflows reaching USD 23 billion in 2025—the highest level recorded in the past five years. This surge underscores the sustained financial resilience of the Nigerian diaspora and signals improved policy effectiveness and growing transparency within the financial ecosystem. The record flows have played a crucial role in stabilizing Nigeria’s external liquidity: Formal Channel Surge: The Central Bank of Nigeria (CBN) reports that formal monthly remittance inflows have dramatically increased from approximately $200 million to $600 million in recent months. This rapid shift is driven by enhanced policy clarity, such as…

A significant new resource has entered Nigeria’s rapidly evolving tech landscape. AIBase.ng, located in Ikeja, Lagos, has officially launched as the nation’s premier destination for everything related to Artificial Intelligence (AI), committed to keeping Nigerians informed and empowered in a digital world increasingly shaped by machine learning. The platform is positioned as the definitive hub for AI updates, expert analysis, trend reports, and practical AI-career guidance, effectively bridging the gap between global AI breakthroughs and their local impact. Mission: Building an AI-Aware Community Okikiola O. Johnson, Cofounder of AIBase.ng, articulated the platform’s core mandate: “Our mission is to build a…

The Federal Government has launched one of its most ambitious public finance overhauls, announcing sweeping reforms that mandate the full digitalization of all revenue collection processes starting January 1, 2026. This move marks a decisive break from manual and cash-based transactions, aiming to plug revenue leakages and enforce fiscal transparency across all Ministries, Departments, and Agencies (MDAs). The Office of the Accountant General of the Federation (OAGF), led by Dr. Shamseldeen B. Ogunjimi, issued a series of circulars outlining strict new policies and severe sanctions for non-compliance. The Three Pillars of Digital Reform The overhaul is built on three non-negotiable…