Author: Gift Ifeanyi

It’s ₦500. In isolation, that sounds like nothing. But when a central bank quietly proposes to raise the cost of one of the most basic tools of financial participation in a country of 220 million people — many of whom are already stretched thin — the number stops being small very quickly. The Central Bank of Nigeria has proposed raising the fee for ATM debit card issuance and replacement from ₦1,000 to ₦1,500, a 50% increase, as part of its 2026 Guide to Charges exposure draft. If adopted, the new fee structure takes effect from May 1, 2026 — less…

He was the man who first sounded the alarm on missing oil revenues. He later governed the Central Bank through some of its most turbulent years. Now, as Emir of Kano, Muhammadu Sanusi II is doing what he has always done best — asking the uncomfortable question in public, loudly enough that it can’t be ignored. The question this time is simple. Brutal, even. If Nigeria removed the fuel subsidy — a policy that was costing the government hundreds of billions of naira every month — where exactly is that money going? Because the borrowing hasn’t stopped. If anything, it…

Most banks talk about supporting small businesses. Fidelity Bank is currently running a masterclass on how to price a product without undercutting yourself into bankruptcy — and about 100 entrepreneurs showed up to the first one. In April 2026, the bank launched a series of hands-on SME masterclasses out of its dedicated SME Hub in Gbagada, Lagos, covering the kind of practical business knowledge that rarely shows up in a loan brochure. The sessions aren’t theoretical. They’re built around the specific, immediate problems Nigerian small business owners are actually trying to solve. The opening session, titled “Pricing That Works: How…

There’s a version of youth empowerment that looks good in a press release and changes very little on the ground. Then there’s the version that puts payment infrastructure directly in the hands of young entrepreneurs and dares them to build something with it. ASIF — the Activate Success International Foundation — is betting on the second version. And it’s brought Flutterwave along to make sure the bet lands. The Nigerian non-profit has announced a strategic partnership with Africa’s leading payments technology company as the headline move for its 2026 Youth Entrepreneurship and Empowerment Programme, known as YEEP. The collaboration, disclosed…

In 1999, when most of Nigeria’s current startup founders were still in primary school, FATE Foundation quietly began what would become one of the most consequential experiments in African enterprise development. A quarter of a century later, the numbers tell a story that’s difficult to argue with. The Lagos-based non-profit has now trained 256,277 entrepreneurs across Nigeria — a figure that spans all 36 states and the FCT, with its reach extending further into Kenya, South Africa, the United Kingdom, and the United States. Of those, 8,945 have graduated from its flagship programmes since inception, while 247,332 more have been…

It won’t come from a bank. It won’t come with collateral requirements or an interest rate buried in fine print. It’s coming from a pastor — and it might be exactly what Nigeria’s startup ecosystem needs right now. Poju Oyemade, one of Nigeria’s most prominent faith and business voices, has announced a ₦150 million grant programme targeted squarely at startups and small businesses across the country. The initiative is set to launch on May 1 at The Platform — the annual gathering that has built a reputation as one of Nigeria’s most serious intersections of faith, business, and policy thinking.…

Nigeria is one of the largest producers of fresh tomatoes on the planet. Fields across the north burst with the crop every season. And yet, every year, the country quietly writes a $400 million cheque to foreign producers for tomato paste — a product made almost entirely from the same fruit Nigeria grows in abundance. That figure, disclosed by the Nigerian Export Promotion Council at a technical workshop in Kano, is more than a statistic. It is a diagnosis. The workshop, organised under the One-State-One-Product initiative and focused on tomato value chain development for export, drew attention to one of…

In a move that signals a meaningful shift in how the United States engages economically with Africa’s largest economy, American agricultural financing is flowing back into Nigeria through a revived government-backed credit guarantee programme — and the numbers suggest the timing couldn’t be more deliberate. The U.S. Department of Agriculture’s GSM-102 programme, which offers federal guarantees that allow Nigerian banks and importers to secure financing for purchasing American farm commodities, has reopened to Nigerian financial institutions following a restoration of eligibility in late 2025. Credit limits have already been extended to select Nigerian banks, meaning the pipeline isn’t theoretical —…

Amid rising costs and an economy still finding its footing, Nigerian Breweries just served up a financial result that’s worth raising a glass to. The country’s foremost brewing giant posted a 25.6% jump in profit after tax for the first quarter of 2026 — closing the period at ₦55.95 billion, up from ₦44.55 billion in the same quarter last year. Filed through the Nigerian Exchange and landing on investors’ desks Friday, the numbers paint a picture of a company quietly tightening its engine while the road gets bumpier. So what actually moved the needle? Revenue climbed 7.7% to ₦413.02 billion,…

When a European delivery giant quietly landed on Nigerian soil four years ago, few imagined it would soon be calling the country its crown jewel. Yet here we are. Spain-born on-demand platform Glovo has officially named Nigeria its fastest-growing market globally — a declaration made not in a boardroom overseas, but on Lagos ground at its flagship Future of Commerce 2026 summit. The announcement landed with weight: over ₦37 billion pumped into the Nigerian economy, 38 million deliveries completed in a single year, and merchant revenue that nearly doubled. For a market that some foreign investors once approached with hesitation,…

In a significant move to bridge the digital divide for local entrepreneurs, TikTok and the International Chamber of Commerce (ICC) have announced the launch of Digital Commerce Labs. This global initiative, specifically tailored for Nigeria, aims to transform small businesses from local vendors into digitally-savvy international competitors. The program is backed by a powerful domestic coalition including the National Information Technology Development Agency (NITDA) and the Lagos State Employment Trust Fund (LSETF), ensuring that the global curriculum is grounded in the local Nigerian business context. The Strategy: Visibility Meets Velocity While TikTok is widely recognized for its “viral” potential, the…

The GTCO Food and Drink Festival is returning to Lagos from May 1 to May 3, 2026, with a 9th edition designed to be as much a financial intervention as a cultural celebration. Moving beyond its reputation as a premier food exhibition, Guaranty Trust Holding Company Plc (GTCO) is using this year’s event to tackle three critical pain points for Nigerian entrepreneurs: Retail Scale, Access to Liquidity, and Spatial Equity. Staged at the GTCentre in Oniru, the festival will host 204 small businesses in free retail stalls, positioning the event as a high-volume testing ground for local food and beverage…

The conversation around high-end smartphones in Nigeria is shifting. With its recent global debut at MWC 2026 and its entry into the Nigerian market this April 2026, the Infinix NOTE 60 Ultra is positioning itself not just as a mobile device, but as a high-performance business asset. Co-developed with the legendary Italian design firm Pininfarina—the creative force behind some of the world’s most iconic Ferraris—the NOTE 60 Ultra blends automotive aesthetics with “deep-tech” engineering to meet the rigorous demands of the modern Nigerian executive. Engineering Inspired by the Racetrack The partnership with Pininfarina is far more than a logo placement.…

At the 3rd Inaugural Lecture of Wellspring University, Professor Ohikhena delivered a stark assessment of Nigeria’s economic trajectory, warning that the nation remains trapped in an “entrepreneurship wilderness.” He argued that Nigeria’s transition from a consumption-driven economy to a sovereign producer is being actively stifled by five historical and systemic “retardation forces.” Ohikhena’s lecture, “From Nigeria’s Entrepreneurship Wilderness to Wealth,” calls for a radical departure from oil dependency and foreign-centric systems in favor of a national ethos built on indigenous innovation. The Five Key Retardation Forces Ohikhena identified a quintet of pressures that have historically undermined Nigerian enterprise: Pre-Colonial Comprador…

The complexities of Nigeria’s property sector have once again come under the spotlight as Osakwe, a lawyer and Managing Director of Alkire Partners Nig Ltd, warns that prolonged legal battles and “hostile” regulatory environments are becoming major deterrents to high-value investment. Osakwe, who is currently embroiled in a high-profile dispute involving an alleged ₦300 million illegal eviction and property damage case, argues that the current judicial pattern often “punishes rather than protects” legitimate enterprise. The Real Estate Minefield: Due Diligence vs. Dispute Land acquisition remains the most volatile stage of property development in Nigeria. According to Osakwe, the transition from…

In a business ecosystem often dominated by polished success stories, UnwindFest (powered by YellowLyfe) is returning to Lagos on Wednesday, May 13, 2026, with a different mission: a candid, unfiltered look at the grit behind the growth. The 10th edition of its flagship storytelling series, Founders Rant X, will convene over 150 CEOs and entrepreneurs at Alliance Française Lagos for a deep dive into the human and operational complexities of building in Africa. This milestone 6th year for UnwindFest signals a shift from inspiration to “honest context,” providing a safe room for founders to exhale and exchange practical frameworks for…

In a significant boost to Nigeria’s industrial human capital, Nestlé Nigeria has announced a total investment of over ₦6 billion directed toward its Technical Training Centres (TTC). The initiative has successfully equipped 309 young Nigerians with advanced vocational and technical skills, creating a specialized talent pipeline for the country’s manufacturing sector. The program, hosted across Nestlé’s three major hubs in Agbara, Flowergate, and Abaji, is a cornerstone of the global “Nestlé Needs YOUth” initiative, which aims to provide 10 million young people worldwide with economic opportunities by 2030. A 98% Employment Success Rate Beyond the financial investment, the program’s success…

In a bold fusion of hardware and high finance, Egoras Technologies has announced the Cube Phone, a business-centric smartphone designed to bypass traditional banking bottlenecks. The device acts as a handheld portal to the capital market, allowing Small and Medium-sized Enterprises (SMEs) to raise funds and issue securities directly through a proprietary mobile operating system. The core of this innovation is its integration with ContisX, a new securities exchange that has already secured approval-in-principle from the Securities and Exchange Commission (SEC). With a full rollout targeted for September 2026, the platform aims to democratize the kind of capital-raising tools previously…

In a historic realignment of economic ties, Nigeria has officially surpassed all other African nations to become the United Kingdom’s largest export market on the continent. Bilateral trade between the two powers has surged to a record £8.1 billion ($10.7 billion), marking an 11.4% increase and signaling a definitive shift from high-level diplomacy to multi-billion dollar commercial execution. The announcement coincided with the conclusion of the first major UK trade mission to Nigeria since the landmark March 2026 State Visit by President Bola Tinubu to London. The mission, comprising 43 delegates from 30 British firms, focused on turning the “political…

In a strategic push to mature Nigeria’s mid-market enterprises, Providus Bank has announced the opening of applications for its 2026 SME Program. Launched in partnership with the Enterprise Development Centre (EDC) of Pan-Atlantic University, the initiative distinguishes itself by targeting established businesses ready to transition from local success to sustainable, large-scale operations. While many national programs focus on startups, the Providus Bank model is specifically engineered for the “Missing Middle”—businesses that have survived the initial five-year failure window and now require sophisticated structural refinement to compete at a higher level. The Program Architecture The 2026 cohort will undergo a multi-layered…