Author: Gift Ifeanyi

Abuja – November 18, 2025: The Federal Government of Nigeria has announced plans to reward exceptional entrepreneurs with prizes valued at over N220 million, recognising their innovation, resilience, and contribution to national economic growth. The announcement was made during a briefing in Abuja by Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and Micro, Small, and Medium Enterprises (MSMEs). The awards form part of the eighth edition of the National MSMEs Awards, scheduled to coincide with 2025 MSMEs Week, in alignment with the 2024 United Nations World MSMEs Day, which celebrates the vital role of small businesses…

Ilorin, Kwara State – November 18, 2025: The Kwara State Government has reinforced its commitment to youth empowerment by disbursing N5.4 million to 15 student entrepreneurs from tertiary institutions across the state. The grants were awarded during the Kwara State Entrepreneurship Expo, held in Ilorin to mark the 2025 International Students’ Day. The beneficiaries were carefully selected from over 500 applicants, who submitted pitches for innovative or existing business ventures, highlighting the ingenuity and entrepreneurial spirit of Kwara’s youth. Emerging as the top winner, Zainab Omodolapo, a University of Ilorin student and Ewa Aganyin vendor, received a N1 million grant…

Monaco – November 17, 2025: Former presidential candidate Mr. Peter Obi has spotlighted Nigeria as Africa’s premier destination for investment, emphasizing the nation’s youthful workforce, abundant natural resources, and immense economic potential. He made these remarks while addressing international investors and business leaders at the 4th Africa Day event, hosted by the Club des Entrepreneurs Monégasques en Afrique (CEMA) in Monaco. During his keynote, Obi described Africa as the “continent of tomorrow”, citing its rich human and natural resources as key drivers for sustained growth. He projected that by 2050, Nigeria’s population will reach 320 million, with 200 million young…

Lagos State is witnessing a surge in diaspora-led investment in the tourism sector, underpinned by deliberate government support for private-sector initiatives. A leading example of this trend is Giwa Gardens Water Park, a multi-billion-naira facility developed by UK-based Nigerian entrepreneur Keji Giwa, which has become a symbol of investor confidence under Governor Babajide Sanwo-Olu’s administration. Since its inauguration in December 2023, the 12,100sqm water park in Sangotedo has attracted thousands of visitors and catalyzed commercial activity along the Lekki–Epe corridor. Now considered one of the largest water-based leisure destinations in West Africa, Giwa Gardens has generated employment opportunities, stimulated ancillary…

Kazeem Tewogbade, Group Chief Executive Officer of Bluechip Technologies Limited, has released his memoir, Unlikely, offering a candid account of his rise from humble beginnings to a leading figure in Nigeria’s technology sector. Launched last week in Lagos, the book details Tewogbade’s journey of perseverance, strategic decision-making, and faith-driven resilience, aimed at inspiring aspiring entrepreneurs across the country. Speaking on the motivation behind the memoir, Tewogbade stated, “This is not just a story to be told—it is a story to inspire action. Success often appears improbable, but with dedication and purpose, it is attainable.” He emphasized that the book reflects…

Harvesters International Christian Centre (HICC) has concluded its annual Harvesters Entrepreneurship Forum (HEF), a full-day gathering designed to equip entrepreneurs, innovators, and business leaders with actionable insights for navigating Nigeria’s dynamic business environment. Held under the theme “Scaling Businesses with Strategy, Spirit, and Structure,” the forum provided a clear roadmap for founders seeking sustainable growth, operational stability, and strategic clarity. Participants from sectors including technology, agriculture, corporate leadership, finance, and the creative industry engaged in sessions led by accomplished industry experts. Conversations centered on innovation, market positioning, business process design, and the realities of building resilient corporate structures in an…

Google Hustle Academy has announced the opening of applications for the AfCFTA Digital Inclusion and Entrepreneurship Programme (ADIEP) — a continent-wide initiative designed to equip African small businesses with the digital capabilities needed to compete and scale in today’s technology-driven marketplace. The programme, offered free of charge, will provide training to 7,500 SMEs across Africa. Delivered entirely online and available in English, French, Arabic, and Portuguese, the programme offers a structured curriculum built around three strategic pillars aimed at strengthening small business growth and improving regional trade readiness. Programme Pillars 1. Cross-Border Digital Trade Developed in collaboration with the AfCFTA…

Nigeria has reiterated its commitment to expanding international business engagements, with Vice-President Kashim Shettima assuring global investors of the country’s readiness to welcome new partnerships. He gave the assurance in Abuja while receiving executives from Advanced Energy Partners (AEP) during a courtesy visit to the Presidential Villa. Shettima noted that the economic and structural reforms introduced by President Bola Tinubu’s administration are already reshaping the business environment and unlocking fresh investment prospects across multiple sectors. According to him, the country is entering a pivotal period marked by policy stability, targeted interventions, and a renewed commitment to private-sector growth. “There is…

Many Nigerian small and medium-sized enterprises are experiencing steep drops in sales, and a major culprit is emerging: sluggish and inconsistent replies on WhatsApp and Instagram — platforms that have quietly become the country’s busiest commercial spaces. This insight came from PressOne Africa, a Techstars-backed cloud communications company, which warned that uncoordinated customer service on direct-message channels is draining businesses of significant revenue they never realise they lost. The company explained that today’s customers judge a business far beyond its products. How quickly a message is answered now determines whether buyers see a brand as professional, credible, or worth returning…

 Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment,, has reaffirmed the federal government’s determination to open new international markets, deepen trade partnerships, and equip Nigerian women—who she described as central to the nation’s economic strength—with the tools needed to thrive globally. Speaking at the launch of the UK–Nigeria Trade Mission under the SheTrades Commonwealth+ Programme in Abuja, Oduwole explained that the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda. She noted that the administration is focused on broadening the country’s economic base, empowering small and medium enterprises, and positioning Nigeria as a leading force in non-oil exports.…

I. Summary of Capital Raise Nigerian-founded fintech Moniepoint, a prominent African unicorn company, has successfully concluded the second tranche of its Series C funding round, raising an additional USD 90 million in equity financing. This second tranche, announced on 21 October, brings the total Series C funding to USD 200 million, following an initial USD 110 million raise that secured the company’s over-USD 1 billion “unicorn” valuation the previous year. II. Key Investors and Deal Structure The total capital raise was led by Development Partners International (DPI) through its African Development III fund, with strategic participation from a host of…

Anchoring the National Sugar Master Plan, Investment Targets 700,000 Metric Tonnes of Local Production Amidst Rising Import Costs Lagos, Nigeria — Dangote Sugar Refinery (DSR) has strategically intensified its long-term commitment to ending Nigeria’s dependency on raw sugar imports, deploying an investment exceeding $700 million into its backward integration program (BIP). This colossal capital outlay is not merely a business expansion; it represents the single most significant private-sector commitment underpinning the government’s National Sugar Master Plan (NSMP), designed to conserve Nigeria’s dwindling foreign exchange (FX) reserves and achieve industrial self-sufficiency. The investment is systematically spread across key areas necessary for…

Birmingham, UK — Imaiger, a pioneering artificial intelligence (AI) visual content solution, has been named the Best AI-Powered Visual Content Platform at the Midlands Enterprise Awards 2025. The platform’s recognition is a major win for its Nigerian United Kingdom-based founder, Salam Lawal, highlighting the global impact of African tech entrepreneurship. The annual Midlands Enterprise Awards, hosted by SME News (a subsidiary of AI Global Media), are dedicated to celebrating businesses and individuals driving remarkable growth, innovation, and sustainable practices across the UK’s competitive Midlands region. Melissa Bramall, the awards coordinator, underscored the significance of the winners, noting that their work…

Abuja, Nigeria — Guinness Nigeria Plc has significantly strengthened its distribution network across several states in Northern Nigeria, a strategic move following the divestment of its former majority shareholder, British drinks giant Diageo. Girish Sharma, Guinness Nigeria’s Managing Director and Chief Executive Officer, confirmed the successful expansion in an exclusive interview in Abuja, highlighting a renewed focus on market penetration under the company’s new strategic direction. The expansion comes on the heels of the landmark transition in ownership, which saw Diageo complete the sale of its 58.02% controlling stake in Guinness Nigeria to the Singapore-headquartered conglomerate, Tolaram, in late 2024.…

The 2025 Sabistation Business Owners Awards provide a rich, multi-layered view of the Nigerian economy. Far from being a mere list of winners, the results reveal a strategic roadmap for growth, highlighting the critical balance between established industrial powerhouses and agile, digital-native disruptors who are redefining value creation in Africa. 1. The Foundation of Resilience: Titans and Legacy Builders The highest honors recognize the essential pillars of the economy. Femi Otedola (Entrepreneur of the Year, Man), is acknowledged for his transformative contributions in the power sector through Geregu Power. Geregu has recently been lauded for its resilience and strategic moves…

The recent briefing by the Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi, was not just an update on departmental efficiency; it was a clear declaration of Nigeria’s strategic intent to seize logistical command over the African Continental Free Trade Area (AfCFTA). The upcoming Customs Partnership for African Cooperation in Trade (C-PACT) Conference is being strategically positioned as the decisive operational anchor for continental commerce, ensuring Nigeria is the primary beneficiary of integrated African trade. The Presidential Mandate: Trade as an Expansion Engine President Bola Tinubu’s renewed mandate to the CGC is explicit: use trade as a major engine of economic…

S&P Global Ratings’ decision to revise Nigeria’s sovereign outlook to “Positive” from “Stable,” while maintaining the long-term rating at B-/B, is far more significant than the modest letters suggest. This is not just a routine technical adjustment of a financial score; it represents a critical recalibration of global perception capital. It signals to large-scale institutional investors that the internal mechanics of Nigeria’s economy are undergoing a deliberate process of de-risking, transitioning from unpredictable volatility to manageable uncertainty. The Signal of “Positive Outlook” The core value of the ‘Positive Outlook’ lies not in the immediate affirmation of the B- rating, but…

The recent convergence of over 700 principal operators at the 8th Caladium Lagos SME Bootcamp was not merely a networking event; it was an annual economic triage. Amidst intensifying structural pressures in the Nigerian market, this gathering represents a crucial, decentralized mechanism where small and medium enterprises—the very core of the nation’s employment and GDP—engage in necessary survivalist strategy and resource securitization. The statistical weight of the SME sector is immense, driving 48 percent of GDP and providing 84 percent of jobs. Yet, as co-founder Ayo Bankole Akintujoye notes, the movement was founded on the basic principle that market knowledge…

Tony Elumelu, the Chairman of the United Bank for Africa (UBA) and founder of the Tony Elumelu Foundation, has firmly stated that Nigeria’s economic transformation will be spearheaded by its entrepreneurs, rejecting the reliance on government handouts or external foreign assistance. Speaking at the Grow Nigeria Conference 2.0 in Lagos, themed “Empowering Nigeria’s Entrepreneurs: Building Institutions That Last,” Elumelu asserted that the nation’s future is actively being shaped by resilient business owners who champion excellence. The Imperative of Institutional Strength While acknowledging Nigeria as inherently an entrepreneurial nation, Elumelu stressed that the core challenge lies in building enduring institutions capable…

Standard Chartered Bank Nigeria (StanChart) has concluded the sixth edition of its highly impactful SC Women in Tech Incubator initiative, awarding $10,000 in seed funding to five outstanding female technology entrepreneurs. This latest cohort brings the total number of Nigerian winners to 30, who have collectively received over $250,000 in seed funding since the program’s inception in 2019. The initiative is a cornerstone of the bank’s commitment to improving women’s access to entrepreneurial finance and fostering sustainable economic development. From Bootcamp to Business Investment The SC Women in Tech program is strategically designed for female-led entrepreneurial teams, providing them with…