Author: Gift Ifeanyi

The Canada-Africa Chamber of Business recently convened a high-level conference at the Eko Hotel & Suites in Lagos, bringing together a delegation of 31 Canadian companies alongside regional policymakers, diplomats, and corporate executives. The forum aimed to scale up bilateral commerce and position Nigeria as the primary entry point for Canadian investments targeting the broader African continent. The visiting delegation featured major enterprises across tech, clean energy, infrastructure, and mining, including organizations such as GardaWorld, Dentons, and Trilliant. Delivering the keynote address on behalf of Zenith Bank’s Group Managing Director, Dr. Adaora Umeoji, the bank’s Executive Director, Mr. Akin Ogunranti,…

A coalition of Africa’s leading filmmakers, musicians, and investment stakeholders have urged for stronger regional collaboration and strategic funding to elevate the continent’s creative industries on the global stage. The collaborative call was made during the Africa Music Business Conference in Casablanca, Morocco. Hosted at the Marriott Hotel, the event was organized by the All Africa Music Awards (AFRIMA) in tandem with the African Union and Moroccan partners to map out the economic future of Africa’s entertainment ecosystem. The cross-continental panel featured prominent industry voices, including award-winning Nigerian filmmaker Kunle Afolayan, Moroccan rap artist Khtek, AFRIMA Eastern Africa Regional Director…

The Society of Nigeria Broadcasters (SNB), Abia State Chapter, recently held its 2026 Annual Conference at the Women Development Centre in Umuahia, focusing heavily on how modern media drives rural development. Themed “Broadcasting Beyond the Signal: Community Impact in the Digital Era,” the event gathered top industry experts, academics, and policymakers. Governor Alex Otti, represented by his deputy, Chief Ikechukwu Emetu, opened the conference by labeling broadcasters as vital catalysts for social change. He urged media professionals to act as reliable gatekeepers of truth to counter the rising tides of digital misinformation and fake news. The event featured a keynote…

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has voiced strong support for the Nigerian Communications Commission’s (NCC) initiative to establish a domestic smartphone manufacturing pipeline. ALTON Chairman Gbenga Adebayo stated that the push is a highly practical intervention to bridge the digital divide and accelerate broadband adoption across the country. The telecom body’s endorsement follows an address by NCC Governing Board Chairman Idris Olorunnimbe at a summit in Shanghai, where he emphasized that device cost—rather than data prices or network reach—remains the chief barrier to modern digital integration. Adebayo stressed that Nigeria’s massive telecom subscriber base and youthful…

Following a recent official visit to Nigeria, the European Union has moved rapidly to strengthen its commercial ties with Africa’s economic powerhouse, emphasizing a shared commitment to sustainable job creation and value-chain development. At the Nigeria-EU Business Forum, regional leaders pointed out that Nigeria’s trade relationship with the EU has steadily expanded, now reaching an annual trade volume of €35 billion alongside €26 billion in Foreign Direct Investment (FDI). Speaking on behalf of ECOWAS Commission President Omar Alieu Touray, the Director of Trade, Kolawole Sofola, urged international investors to treat Lagos as a strategic springboard into broader African economies. He…

The Federal Government of Nigeria has finalized the first installment of a $5 billion Total Return Swap (TRS) facility with First Abu Dhabi Bank, the largest lender in the United Arab Emirates. Approved by the National Assembly on March 31, the transaction proceeds despite mounting transparency concerns from global financial institutions. The capital injection is designated to fund the 2026 fiscal budget, support critical infrastructure development, and reorganize existing debt obligations. Following legislative approval in April, lawmakers described the financing terms—which price the initial tranche at 395 basis points over the Secured Overnight Financing Rate (SOFR) and later tranches at…

Cross River State Governor, Senator Bassey Edet Otu, has received the “Most MSME-Friendly Governor Award” from the Presidency at the 8th National MSME Awards in Abuja. Held at the State House to coincide with World MSME Day, the event recognized Governor Otu for implementing progressive regulatory reforms that have expanded credit access and revitalized small businesses via the Cross River State Microfinance and Enterprise Development Agency (CRSMEDA). The ceremony also featured the launch of Building Nigeria, Empowering MSMEs, a federal compendium documenting small business milestones achieved under the Renewed Hope Agenda. The summit drew high-profile dignitaries, including the Minister of…

To celebrate World MSME Day 2026, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured a $12 million commitment from the South Korean Government to build an advanced Skills Acquisition Centre in Abuja. SMEDAN Director-General Charles Odii announced that the hub will provide vocational and entrepreneurship training to thousands of young citizens. While awaiting land allocation from the FCT Administration, Odii stressed that the agency is prepared to utilize its existing facility in Idu, Abuja, to ensure Nigeria capitalizes on this international development partnership. Simultaneously, SMEDAN has introduced a N500 million zero-interest revolving “Grow Fund” to eliminate…

In an effort to accelerate financial inclusion and alleviate the regulatory hurdles faced by small enterprises, President Bola Tinubu has approved the free registration and formalization of 250,000 Micro, Small, and Medium Enterprises (MSMEs). The announcement was made during the 8th National MSME Awards 2026 held at the State House in Abuja. The intervention targets nano, micro, and small-scale business owners, allowing them to transition into the country’s formal banking and corporate systems without the burden of standard incorporation fees. The initiative is being executed via a strategic partnership between the Corporate Affairs Commission (CAC) and the Small and Medium…

A recent public statement by Senator Oluremi Tinubu encouraging Nigerian youths to pursue roadside enterprises—such as selling akara, roasted corn, and kuli-kuli—has ignited a passionate national conversation. While proponents argue that the advice champions the dignity of labor, self-reliance, and basic entrepreneurship, critics have labeled the ideology “Akaraeconometrics.” The term has quickly gone viral on social media, symbolizing an economic landscape where survivalist, low-income informal trading is framed as a solution to systemic unemployment. The core of the debate does not question the honor of honest work; instead, it raises critical questions about public policy and economic ambition. Observers question…

At the 10th Nigeria-European Union Business Forum held in Lagos, European and Nigerian officials, investors, and business leaders convened to expand bilateral trade and sustainable development. In a video address, Kaja Kallas, the High Representative of the European Union for Foreign Affairs and Security Policy, described Nigeria as an African economic powerhouse and a priority destination for European capital. She emphasized that the swift organization of the forum following her recent official visit underscores the strong mutual commitment to deepening commercial and economic ties. The forum also highlighted the strategic benefits of cross-border trade networks. Kolawole Sofola, the Director of…

Nigeria’s mining industry has hit a major milestone following the discovery of a highly valuable polymetallic mineral zone in Kaduna State. Announced by the Minister of Solid Minerals Development, Dr. Dele Alake, the area boasts premium deposits of gold, copper, nickel, lithium, rare earth elements, and platinum group metals. The find was uncovered by private firm Steron Mining and subsequently validated by the Nigerian Geological Survey Agency (NGSA). In tandem with the Kaduna find, Steron Mining revealed an estimated 3.3 million metric tonnes of lithium reserves at its site in Abuja. As the global race heats up for materials vital…

The historic Premier Hotel, situated on Mokola Hill in Ibadan, has officially reopened following a comprehensive rehabilitation project by the Odu’a Investment Company Limited. President Bola Tinubu, represented by the Secretary to the Government of the Federation, George Akume, led the commissioning ceremony. He praised the project as a critical revival of a national heritage asset that highlights the economic and cultural significance of Oyo State. The revitalization of the landmark hotel aligns with the administration’s Renewed Hope Agenda, which emphasizes tourism, hospitality, and public-private partnerships as drivers for job creation and regional growth. Backed by the cooperation of the…

Micro, Small, and Medium Enterprises (MSMEs) make up roughly 96% of Nigerian businesses and generate nearly half of the nation’s GDP, yet many fail within five years due to poor cash flow, high costs, and limited financing. Speaking at the 2026 Digital PayExpo, PalmPay Managing Director Chika Nwosu highlighted that resolving these funding and infrastructure bottlenecks is critical for financial inclusion. To counter these challenges, PalmPay is helping small businesses transition from cash to digital payment ecosystems, allowing them to build the formal financial footprints necessary to access credit. Beyond digital payment tools, the fintech platform is actively injecting capital…

First Bank of Nigeria has partnered with Kemi Adeosun, the nation’s former Minister of Finance, to provide small and medium-sized enterprises (SMEs) with the critical skills and strategies required to secure business financing. Speaking at the bank’s Q2 2026 SMEConnect webinar, Adeosun pointed out that since 84% of the Nigerian workforce relies on SMEs and the sector drives 48% of the country’s GDP, prioritizing small businesses is mandatory for national economic growth. She advised entrepreneurs to rigorously test their business models before making major capital investments, adding that sustainable enterprise requires constant evolution and strong market information. The virtual event,…

Speaking at a press conference for the upcoming 21st Abuja International Trade Fair (AITF), Professor Adesoji Adesugba, the First Deputy President of the Abuja Chamber of Commerce and Industry (ACCI), pushed for sweeping economic adjustments to support local industries. Adesugba argued that for Nigerian businesses to effectively compete on a global scale—particularly with manufacturing giants like China—the federal government must create paths toward single-digit lending rates rather than the current double-digit interest environment. Adesugba, who also serves as the trade fair’s organizing committee chairman, weighed in on the country’s ongoing fiscal updates, stating that while modernizing the tax system is…

Fidelity Bank Plc has been recognized by the Development Bank of Nigeria (DBN) for its exceptional efforts in bringing previously unbanked and credit-excluded small businesses into the formal financial system. Ugochi Osinigwe, the bank’s Divisional Head of SME Banking, expressed appreciation for the accolade, noting that the award validates Fidelity’s holistic strategy of blending capital, digital infrastructure, and capacity-building to eliminate growth barriers for local entrepreneurs. This latest honor builds on a track record of DBN accolades, including the 2025 Innovation Award and the 2020 Service Award for high-volume loan disbursement. Beyond traditional credit, Fidelity Bank has established an extensive…

Driven by expanding corporate partnerships and deep cultural ties, the volume of bilateral trade between Nigeria and the Philippines has recorded an unprecedented 700 percent increase over a three-year period. The figures were disclosed by the Philippines’ Ambassador to Nigeria, Mersole J. Mellejor, during the 128th Independence Anniversary celebration of the Republic of the Philippines hosted by the embassy in Abuja. According to the envoy, trade volumes surged from a modest $47 million in 2023 to $300 million in 2025, indicating a massive shift in economic cooperation. A Coordinated Approach: Launching the Business Council To sustain this momentum and prevent…

In a major move to unlock funding for small businesses, the National Credit Guarantee Company (NCGC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have officially signed a Memorandum of Understanding (MoU).The partnership creates a stronger framework to tackle the financing challenges facing Nigeria’s micro, small, and medium enterprises (MSMEs)—especially nano and micro-businesses. The two organizations will work together to improve the creditworthiness of small businesses, promote financial literacy, and offer robust credit guarantees to encourage commercial banks to lend to smaller brands.De-Risking Private Sector Lending via Credit Guarantees A primary barrier preventing Nigerian small businesses from…

In a bid to scale food entrepreneurship and promote northern Nigeria’s culinary heritage, emerging food supply brand Foodstuff Store has signed a master partnership agreement with the organizers of the annual Kilishi Festival. The structured alliance positions Foodstuff Store as the exclusive B2B backbone and primary procurement vendor for the highly anticipated cultural event, scheduled to take place on August 2, 2026, at Tobix Garden, Abuja. The festival is projected to draw a crowd of over 6,000 attendees, including domestic food enthusiasts, hospitality executives, and international tourists. A Unified Supply Chain for Street Food Vendors A common bottleneck for vendors…