Author: Gift Ifeanyi

The Sahel region’s geopolitical landscape has shifted from diplomatic cooperation to a “command economy” for security. Niger’s Ministry of Transport has just delivered a stark ultimatum to its private logistics sector: regional solidarity is no longer optional. By revoking the licenses of 14 road haulage operators and withdrawing the permits of 19 drivers, the Nigerien government has essentially nationalized the risk associated with the “Niamey-Bamako Axis.” This move marks a critical escalation in the Alliance of Sahel States (AES) strategy to break the jihadist “siege” on Mali. 1. The Strategic Chokepoint: The 1,400km “Corridor of Fire” The 1,400-kilometer route between…

As of January 2026, Nigeria’s entrepreneurial ecosystem has entered a “harvest year” under the Renewed Hope Agenda. With the launch of the Renewed Hope Development Plan (2026–2030), the Federal Government has shifted from emergency reforms to a structured drive toward a $1 trillion economy. For the modern Nigerian entrepreneur, the landscape is no longer just about “survival” but about formalization and scale. Below is the definitive guide to the new incentives, digital shifts, and legal frameworks governing business in 2026. 1. Strategic Funding & Incentives (2026 Edition) The government has consolidated multiple funding streams into high-impact portals to reduce “middleman”…

Vice President Senator Kashim Shettima hosted a high-level delegation from the MIT Kuo Sharper Centre for Prosperity and Entrepreneurship at the Presidential Villa in Abuja. The meeting was centered on the Kuo Sharper Foundry Fellowship (2025–2026), a transformative initiative aimed at bridging the gap between African startups and global capital. Lauding the Massachusetts Institute of Technology (MIT) for its “transformative impact,” Shettima highlighted a staggering statistic: the MIT ecosystem has raised over $1.5 billion and created 30,000 direct jobs globally over the past two decades. 1. The Foundry Fellowship: Accelerating the African Engine Led by Executive Director Dina Sherif, the…

A key player in Nigeria’s logistics and supply chain sector, Fembol Group—unveiled the winners of its maiden Fembol Student Grant. The initiative, which drew over 500 applications from universities across the country, is designed to turn academic research and raw ideas into market-ready ventures. By moving beyond simple financial aid, Fembol is positioning itself as a “venture-builder” for the youth, providing a structured funnel of mentorship, validation, and capital. 1. The Winners: Solving Health, Energy, and Sanitation The three grand prize winners represent high-growth sectors where innovation is most needed in sub-Saharan Africa. Position Startup Name Founder Core Innovation Winner…

In a targeted move to cushion economic pressures and stimulate local growth, the Lagos State Government, through the Ministry of Wealth Creation and Employment, recently empowered 300 residents of the Alimosho Federal Constituency. The initiative, led by Commissioner Akinyemi Ajigbotafe on Saturday, January 10, 2026, utilized the Alimosho Local Government Secretariat as a hub for distributing cash grants, food items, and educational support. Breakdown of the Empowerment Program The program adopted a multi-sectoral approach, ensuring that support reached the most critical areas of the community: Beneficiary Category Number Assisted Form of Support Small Business Owners 100 Entrepreneurs Direct cash support…

As of January 2026, First City Monument Bank (FCMB) continues to solidify its reputation as a leading champion of youth-led social impact in Nigeria. At the 25th Anniversary Gala and Awards of Enactus Nigeria, held in late 2025 at the Civic Centre in Lagos, the bank was conferred with the prestigious Changemaker Collaboration Award. This recognition highlights a decade-long partnership that has transformed the lives of thousands of students across more than 30 tertiary institutions nationwide. Enactus Nigeria: 25 Years of Excellence Enactus (formerly Students in Free Enterprise – SIFE) is a global non-profit that provides a platform for university…

On January 7, 2026, IMF Managing Director Kristalina Georgieva announced that Abebe Aemro Selassie will retire as Director of the African Department (AFR) on May 1, 2026.1 His departure marks the end of a transformative decade-long leadership of the Fund’s most complex regional portfolio. An Ethiopian national who joined the IMF in 1994, Selassie’s 32-year career has been defined by his role as a bridge between global financial architecture and African economic aspirations. A Decade of Crisis and Reform (2016–2026) Since taking the helm in 2016, Selassie steered the department through a period of unprecedented global shocks.4 His tenure is…

Zenith Bank stands as a pillar of African finance, a transformation driven by Jim Ovia’s philosophy of “patient capital.” Under his guidance, the bank has transitioned from a converted residential house in Victoria Island to a global financial powerhouse with total assets exceeding ₦31 trillion ($21.9 billion) and shareholders’ equity of ₦4.7 trillion ($3.3 billion) as of September 2025. Strategic Growth and Market Dominance Zenith Bank has maintained its position as Nigeria’s most profitable lender, consistently delivering high returns despite currency volatility and inflationary pressures. Financial Resilience: In 2024, the bank posted a record profit of ₦1.03 trillion ($670 million),…

Terra Industries (formerly known as Terrahaptix) has officially emerged from stealth mode, announcing a record-breaking $11.75 million seed funding round. This investment, led by Silicon Valley’s 8VC, marks a pivotal moment for African sovereign security, positioning Terra as the continent’s first “defense prime”—a vertically integrated technology provider similar to the U.S. firm Anduril. The company is led by two young visionaries: Nathan Nwachuku (22), a former Physics Olympiad representative and edtech founder, and Maxwell Maduka (24), a former Nigerian Navy UAV engineer who previously sold his first drone startup to an automotive firm. 1. Strategic Backing from Global Defense Giants…

In a major breakthrough during the 2026 Abu Dhabi Sustainability Week (ADSW), Nigeria and the United Arab Emirates officially signed a Comprehensive Economic Partnership Agreement (CEPA) on Tuesday, January 13, 2026. The agreement, signed during a bilateral meeting between President Bola Tinubu and UAE President Sheikh Mohamed bin Zayed Al Nahyan, marks the formal end to previous diplomatic frictions and sets a new course for massive trade expansion and investment protection. 1. Key Highlights of the CEPA Trade Deal The agreement is designed to dismantle trade barriers and provide legal certainty for investors in both nations. Feature Details of…

Despite the macroeconomic headwinds that characterized much of 2024 and 2025, Nigeria enters 2026 as a formidable pillar of African innovation. While the funding landscape has shifted toward profitability and debt over raw growth, Nigerian startups raised over $410 million in 2025, positioning the country as a leader in the “Big Four” African tech hubs (alongside Kenya, Egypt, and South Africa). Government initiatives, such as the $617 million iDICE programme, are set to launch two additional funds in 2026 specifically targeting technology and creative startups, further fueling this momentum. Five Startups to Watch in 2026 1. Chowdeck: From Food to…

As of January 2026, the economic partnership between West and East Africa is seeing a significant boost through the activities of Dr. Odera Ozoka, a Nigerian-American entrepreneur and filmmaker. Recently appointed by President Yoweri Museveni as the Special Mobilizer for Credible Investors for Uganda, Dr. Ozoka is bridging the gap between the Nigerian diaspora and East African markets. His work focuses on the “spirit of Pan-Africanism,” moving beyond national borders to foster shared growth through gender-inclusive development. The Mission: Empowering Northern Uganda’s Women Working alongside Uganda’s Minister of Gender, Labour and Social Development, Betty Amongi, Dr. Ozoka is currently on…

As of mid-January 2026, the Nigerian insurance industry is at a critical crossroads. A proposal to exempt foreign insurance companies from paying tax on premiums sourced from Nigeria has sparked a heated debate between the federal government and local operators. While proponents argue that tax breaks for foreign insurers would deepen market penetration, domestic firms warn that it creates a “harmful and unfair” disadvantage during a sensitive period of industry rehabilitation. 1. The Core of the Controversy The proposal stems from a review of the Nigeria Tax Act 2025 by KPMG Nigeria, which suggested that removing Withholding Tax (WHT) on…

High Chief Royal Ifechukwu Asianya, the Managing Director of Royal C. Investment Company (Nigeria) Limited, has transformed a 1993 apprenticeship at the Nkwo Nnewi spare parts market into a leading automotive empire. His journey is a classic testament to the “Nnewi Model” of business—starting with humility, surviving market collapses, and eventually dominating a niche. Today, Royal C. Investment stands as Nigeria’s foremost importer of fairly used Coaster and Hiace buses, serving as a critical backbone for Nigeria’s interstate and intra-city transportation networks. The Evolution of Royal C. Investment Chief Asianya’s career is marked by strategic pivots in response to shifting…

As of January 2026, the Nigerian Education Loan Fund (NELFUND) has become a massive financial operation, having disbursed over ₦161.9 billion to more than 864,000 students since its inception. While the scheme has successfully democratized access to higher education on paper, experts and policymakers are raising red flags regarding its long-term financial and strategic sustainability. The primary concern is a “structural mismatch”: the scheme currently funds thousands of students in overcrowded academic fields while Nigeria suffers from a chronic shortage of technical and vocational skills. 1. NELFUND 2026: The Data at a Glance The scale of the project is unprecedented…

On Friday, January 9, 2026, Chief Obinna Iyiegbu, popularly known as Obi Cubana, was conferred with the prestigious traditional title of Okpataozueora I of Oba. The ceremony took place in his hometown of Oba, Idemili South Local Government Area, Anambra State, during the maiden Ofala Festival of Oba. The title, bestowed by the Igwe of Oba, His Royal Majesty, Engr. Sir Augustine Chinedu Emelobe (Eze Okpoko II), translates to “one whose wealth extends to the community” or “wealth that reaches all.” A Month of Cultural Recognition The Okpataozueora title is the second major honor for the Cubana Group Chairman in…

In a series of pointed remarks following a meeting with President Bola Tinubu in December 2025, Aliko Dangote, Chairman of the Dangote Group, issued a sharp critique of the Nigerian elite’s preference for “wasteful consumerism” over industrial investment. Dangote argued that the capital currently tied up in luxury assets—specifically private jets and high-end cars—could be the key to solving Nigeria’s chronic unemployment and infrastructure gaps. The Cost of “Idle Consumerism” Dangote expressed personal frustration with the proliferation of private aviation in Nigeria, describing it as a missed opportunity for national growth. The Airport Observation: Dangote noted that parking lots at…

As Nigeria prepares for a high-stakes semi-final clash against host nation Morocco, Abdul Samad Rabiu, Chairman and Founder of BUA Group, has raised the stakes with a staggering financial incentive package. Rabiu, Nigeria’s second-wealthiest man, announced the pledges following the Super Eagles’ clinical 2–0 victory over Algeria in the quarter-finals on January 10, 2026. The Incentive Breakdown The billionaire’s pledge is structured to reward both victory and offensive performance: Semi-Final Victory: $500,000 for winning the match against Morocco. Goal Bonus (Semi-Final): $50,000 for every goal scored during the semi-final. AFCON Final Victory: $1,000,000 if the team lifts the trophy. Goal…

In a nation of over 200 million people, everyday frustrations are often the greatest business opportunities. While tech startups capture the headlines, Nigeria’s “wealthy hustlers” are making millions by addressing basic needs in unconventional ways. Here is a breakdown of the “weird” but highly profitable businesses currently thriving in Nigeria. 1. The “Shit Business”: Mobile & Public Toilets Public sanitation remains a massive gap in Nigerian urban centers. Companies like Dignified Mobile Toilets (DMT) have turned a social necessity into a high-margin enterprise. The Model: Charging roughly ₦50 to ₦100 per use. The Math: In a crowded motor park or…

The Federal Ministry of Industry, Trade, and Investment recently released its report, 2025: A Defining Year for Nigeria’s Industry, Trade and Investment, revealing that Nigeria’s trade balance has flipped into a massive surplus. Driven by aggressive reforms and the revitalization of Special Economic Zones (SEZs), the country is successfully diversifying its foreign exchange sources beyond crude oil. 1. SEZs: The $500 Million Engine Nigeria’s Special Economic Zones have transitioned from “concepts” to “engines of growth.” In 2025 alone, these zones delivered: $500 Million in export revenues. 20,000+ direct jobs, strengthening industrial hubs across the country. Coordinated Oversight: The growth is…