Author: Gift Ifeanyi

The rapid expansion of Nigerian cities is fundamentally altering the country’s financial needs. With over 128 million people—roughly half the national population—now living in major metropolitan hubs like Lagos, Abuja, and Kano, the demand for accessible capital has never been higher. As young Nigerians migrate to these centers to launch new ventures, digital finance is stepping in where traditional banks have historically failed. Margaret Banasko, Head of Marketing at FairMoney Microfinance Bank, recently noted that a vast segment of this urban population consists of “hustlers”—ambitious individuals with marketable skills who are often locked out of the formal economy due to…

The Love For Change Women Foundation (LCWF) recently hosted its first EmpowerHER Entrepreneurship Workshop, a landmark event dedicated to the professional growth and communal support of young female entrepreneurs. With the theme “From Hustle to Legacy: Building a Business That Outlives You,” the workshop gathered women between the ages of 20 and 40 to transition their mindsets from short-term survival to sustainable, long-term success. The day was structured around practical, expert-led sessions designed to refine business models, enhance financial literacy, and foster a spirit of intentionality in commerce. Masterclasses in Strategy and Mindset The event featured high-impact sessions from industry…

For Olamide Olatomiwa Olajide, shoemaking is more than a trade—it is a mission to restore respect to manual labor. The founder of Shoeniverse Leathers, a premium Nigerian brand, Olajide’s journey began with a personal transformation. Having once felt a sense of shame regarding her father’s blue-collar background, she eventually embraced the idea that skilled craftsmanship is a source of profound pride. Today, her brand stands as a testament to the fact that handcrafted Nigerian goods can challenge international luxury standards. From Humble Beginnings to a 12 Million Naira Turnover The evolution of Shoeniverse Leathers is a masterclass in “bootstrapping” a…

Microsoft has announced a significant milestone in its ongoing collaboration with the Nigerian government, revealing that over four million citizens have received digital training since 2021. During a media briefing in Lagos, Nonye Ujam, Microsoft’s Director for Government Affairs for West Africa, highlighted that this achievement is a testament to the nation’s rapid evolution within the global digital economy. The initiative has seen particularly strong engagement among students, with 350,000 young people participating in specialized programs. Of these, 63,000 have successfully finished dedicated training tracks, while 43,000 have earned internationally recognized certifications. Advancing the AI Frontier A major pillar of…

The Aurora Tech Award, a prestigious global initiative focused on women-led tech startups in developing economies, has officially announced its “Top 100 Founders to Watch” for 2026. The selection comes after a record-breaking year for the organization, which saw applications jump from 2,018 in the previous cycle to a staggering 3,400 submissions from 127 countries. Nigeria, Kazakhstan, and Kenya led the pack in terms of application volume, signaling a vibrant era of female entrepreneurship across Africa, Central Asia, and Latin America. Key Industry Trends: Healthtech and Fintech Dominance The 2026 cohort highlights where female innovators are focusing their efforts to…

In a landmark move for financial literacy on the continent, global cryptocurrency exchange Luno has teamed up with AltSchool Africa to provide comprehensive, free-of-charge digital asset education to 15,000 Nigerians. The program, dubbed “Demystifying Crypto for Africans,” is currently being recognized as the most extensive educational campaign of its kind in Africa. As digital finance continues to evolve rapidly, the partnership seeks to transform perceived market risks into concrete economic advantages by providing a structured, formal learning path for the public. Program Structure and Enrollment The initiative is designed to be accessible yet rigorous, targeting adult Nigerian residents (18+) who…

In a major push to harness the immense potential of Nigerians living abroad, the Nigerians in Diaspora Chamber of Commerce (NiDCC) recently launched its ambitious ‘Grand Project’ in Lagos. This mid-to-long-term initiative is designed to act as a high-impact “deal platform,” matching the intellectual and financial capital of the diaspora with local opportunities to accelerate Nigeria’s economic transformation. During the Business Summit themed “The People, The Business, and the Future of Emerging Markets,” NiDCC President Patience Ndidi Ofure-Key emphasized that the chamber is moving beyond mere networking. The goal is to convert MoUs into active contracts and turn intent into…

CardinalStone Capital Advisers (CCA) is preparing for a major regional expansion with the launch of Growth Fund II, a $120 million private equity vehicle. This fund is designed to bridge the “missing middle” in West Africa, providing long-term capital to established, profitable small and medium-sized enterprises (SMEs) that have outgrown seed funding but lack access to traditional large-scale financing. Spearheaded by co-founder and Managing Director Yomi Jemibewon, the fund represents a strategic shift toward deepening the nascent private equity market in both Anglophone and Francophone West Africa. Strategic Objectives and Market Scope Building on the foundation of their first fund…

The Nigerian Export Promotion Council (NEPC) has announced that the first wave of financial grants from the $50 million Women Exporters in the Digital Economy (WEIDE) Fund will be disbursed in March 2026. This follows a rigorous training and compliance phase designed to ensure that the beneficiaries are not just recipients of capital, but are “export-ready” global competitors. Speaking at a year-end Town Hall Meeting in Abuja on December 17, 2025, NEPC CEO Nonye Ayeni emphasized that Nigeria is one of only four pilot countries globally—and the only one in Africa—selected for this prestigious World Trade Organisation (WTO) and International…

The Mandela Washington Fellowship Alumni Association of Nigeria (MWFAAN) recently collaborated with Lagos-based Pelse Consulting to host a transformative business and leadership dialogue. Titled “Dialogue that Matters: Building Businesses that Strengthen Communities,” the event served as a strategic platform to bridge the gap between global leadership insights and local entrepreneurial action. The gathering integrated the Mandela Washington Fellows Network with participants from the Amplifier Business Clinic—a flagship youth enterprise initiative by the Lagos State Ministry of Youth and Social Development. Strategic Highlights: People, Purpose, and Profit The dialogue emphasized that for Nigeria’s economy to remain resilient, small businesses must pivot…

A new player in the e-commerce sector, Hisell Technology, has officially entered the market to help small business owners escape the “fragile” cycle of relying solely on social media for sales. The platform acts as a unified digital infrastructure, integrating sales, marketing, and customer management into a single, stable dashboard. Developed as a direct response to the operational chaos of managing multiple apps, Hisell aims to provide Nigerian entrepreneurs with a “sovereign” platform where they own their customer data and control their destiny. The Problem: The “Social Media Suspension” Risk Founder Chidiebere Okpechi highlighted that while Instagram and Facebook are…

The Nigerian Federal Ministry of Youth Development has officially launched its flagship Financial Literacy and Investment Programme, a high-impact national initiative aimed at transforming the economic prospects of the nation’s youth. In a strategic alliance with global trading broker Hantec Markets and Investonaire Academy, the government seeks to bridge the gap between financial theory and practical wealth creation for over 100,000 young Nigerians every year. This government-backed initiative is designed to be more than just a classroom exercise; it is a structured pathway from education to capital access. Core Components of the Initiative The programme leverages a sophisticated Learning Management…

In a historic move for private philanthropy in Africa, the Aliko Dangote Foundation (ADF) has committed to investing ₦1 trillion ($688 million) over the next decade into Nigeria’s education sector. This massive financial injection aims to dismantle the systemic barriers keeping millions of Nigerian children out of classrooms and to pivot the nation’s academic focus toward the future of work. Starting in 2026, the initiative will launch with a cohort of 45,000 students, scaling up to support a staggering 1.33 million learners by 2035. Strategic Focus: STEM, Girls, and Teachers The foundation is not merely distributing funds; it is targeting…

In a high-profile move for regional economic integration, Dr. Stanley Uzochukwu, Chairman and CEO of Stanel Group, led a high-powered business delegation to Lusaka over the weekend for exploratory talks with Zambian President Hakainde Hichilema. The meeting signals a growing trend of “South-South” cooperation, where West African business titans are looking toward Southern Africa to drive industrialization and digital transformation across the continent. The Delegation: A Blend of Energy, Fintech, and Diplomacy The meeting was notable for its cross-disciplinary participants, bridging the gap between traditional infrastructure and the new digital economy: Dr. Stanley Uzochukwu (Stanel Group): Representing interests in energy,…

In a major move to restore fiscal discipline and transparency, President Bola Ahmed Tinubu has presented a ₦43.56 trillion ($29.96 billion) “Repeal and Re-enactment” bill to the National Assembly. This legislative maneuver aims to collapse the current fragmented budgeting system into a single, cohesive framework that will run through December 2025. The move is a direct response to legislative and public criticism regarding the government’s recent practice of rolling over capital budgets, which has seen the 2024 spending cycle extended multiple times, creating a “multiple budget” scenario that muddled planning and accountability. A “Clean Slate” Strategy The primary objective of…

In the largest single military aviation purchase in West African history, the Nigerian government has finalized a €1.2 billion agreement to acquire 24 M-346FA light fighter aircraft from the Italian aerospace conglomerate, Leonardo S.p.A. This acquisition is the cornerstone of Nigeria’s aggressive military modernization program, designed to transition the Nigerian Air Force (NAF) from aging platforms to a state-of-the-art precision strike fleet. Strategic Combat Capabilities The M-346FA (Fighter Attack) is a highly versatile platform that serves dual roles as an advanced trainer and a capable combat jet. Security officials emphasize that these aircraft will provide: Precision Strikes: Advanced munitions and…

Aliko Dangote has revealed a surprising roadblock stalling his ambitious 4,000-truck CNG fleet: a simple security seal. Despite an astronomical investment in gas-powered logistics, hundreds of trucks remain stationary at the Lekki refinery because the specialized sealing mechanisms required to prevent driver theft haven’t arrived from overseas. The Vulnerability of the Open Road The delay highlights a gritty reality of the Nigerian downstream sector—product diversion. Dangote explained that without these high-security seals, drivers often “help themselves” to the fuel during transit. “The main issue and the problem that we have is that those seals are not yet here… otherwise, the…

In a high-level pitch to the international financial community, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, declared that Nigeria is entering an era of “rules-based” economic management.1 Speaking at the US-Nigeria Executive Business Roundtable in Washington, DC, Cardoso emphasized that the nation’s focus has shifted toward transparent markets and predictable policy frameworks to win back global investor trust. The roundtable, organized by the US Chamber of Commerce, served as a critical platform for Nigeria to compete for capital in an environment of high global interest rates and tightening financial conditions.3 The Pillars of the New Economic…

The United States government has announced a significant expansion of its travel restrictions, placing Nigeria under a “partial travel ban” effective January 1, 2026.1 This move, detailed in a new presidential proclamation, targets the most common visa categories used by Nigerians, effectively suspending the issuance of new visas for business, tourism, and education. The decision is rooted in a stated need to enhance national security and address high visa overstay rates, marking a major shift in U.S.-Nigeria diplomatic and migration relations. Impacted Visa Categories The restrictions specifically target immigrant visas (permanent residency) and several key non-immigrant categories that account for…

Nigeria’s largest industrial investment, the Dangote Refinery, is locked in a fierce dispute with the nation’s energy regulators, with owner Aliko Dangote publicly accusing them of policies that favor foreign industry over domestic capacity. Dangote stated that the continuation of cheap fuel imports, facilitated by current regulations, is actively being used “to checkmate domestic potential,” threatening jobs, investment, and the country’s long-term energy security. Speaking at the 650,000-barrel-per-day facility in Lagos, Dangote lamented that Nigeria—Africa’s biggest oil producer—continues to rely heavily on imports, creating jobs abroad while hindering local industrialization efforts. Dispute Over Capacity and Crude Supply The core of…