Author: Gift Ifeanyi

With the soaring cost of imported goods and a weakening naira, Nigerians are increasingly turning to made-in-Nigeria products, not just by choice—but by necessity. What used to be a preference for foreign brands has now become a financial impossibility for many, sparking a quiet revolution in consumer behavior. This evolving trend was spotlighted in a recent episode of the Drinks and Mics podcast, hosted by Ugodre Obi-Chukwu, with co-hosts Arnold Dublin-Green and Tunji Andrews. The episode featured Oler Oladele, founder of MoneyWit Club, who offered a compelling look at how Nigerian families are adjusting to a tighter economy. “The Real…

As electricity grid failures and skyrocketing fuel prices continue to plague Nigeria, Arnergy, a solar energy startup backed by Bill Gates’ Breakthrough Energy Ventures, is answering the call with an ambitious plan to expand access to solar power nationwide. The company has just closed an $18 million Series B round, including a $15 million extension and a $3 million raise in 2023. Why Demand Is Surging The demand for solar systems in Nigeria has exploded in recent years—especially following the May 2023 removal of fuel subsidies that had long cushioned local consumers from global petrol prices. Since then, petrol costs…

MTN Nigeria celebrated International Women’s Day (IWD) with an impactful event that provided valuable insights to over 250 women entrepreneurs. Themed ‘Scaling with Impact | Strategies for Building Resilient Businesses’, the event aimed to equip women business owners with the tools and knowledge needed for sustainable growth and success. Held at the MTN Rooftop in Ikoyi on March 28, 2025, the event attracted businesswomen, thought leaders, and industry professionals for an enriching day of discussions on business resilience, technology adoption, and overcoming entrepreneurial barriers. Harnessing Technology for Growth One of the event’s standout sessions was led by Lynda Saint-Nwafor, Chief…

In a bold move to deepen economic ties and attract foreign investment, the Nigeria-China Strategic Partnership (NCSP) recently hosted a high-level delegation of 35 top Chinese business leaders in Abuja. The visit reflects the growing momentum of the comprehensive strategic alliance between Nigeria and the People’s Republic of China. Facilitated by Pan-African Expansion Industrial Nigeria Ltd, the visiting delegation represents various sectors including science and technology, mining, construction, real estate, healthcare, tourism, and e-commerce. The team was warmly received by the Director-General of NCSP, Joseph Olasunkanmi Tegbe. Speaking on behalf of the delegation, Jason Zhu emphasized their keen interest in…

As Nigeria’s capital market wrapped up the first quarter of 2025 on a bullish high, a group of powerful women emerged as key players — not just for shattering glass ceilings, but for holding multi-billion naira stakes in some of the nation’s most valuable companies. With the Nigerian All-Share Index (ASI) climbing by 697.68 points to 105,660.64 — a 0.66% gain — and trading volumes rising nearly 5% to reach 3 billion shares, Q1 2025 reflected renewed investor confidence. Market capitalization soared past ₦66.2 trillion, rewarding major shareholders, particularly these six financially astute women whose investments span across finance, healthcare,…

In a bold stride toward solidifying its financial strength, Wema Bank Plc has officially kicked off a N150 billion capital raise through a Rights Issue, aligning with the Central Bank of Nigeria’s (CBN) latest directive on bank recapitalization. The initiative, announced by the bank’s board, will see the issuance of 14,286,785,417 ordinary shares at N10.45 per share, available to existing shareholders on the basis of two new shares for every three currently held as of the qualification date, March 5, 2025. The offer opens on April 14, 2025. Positioning for Long-Term Growth This capital raise isn’t just about meeting regulatory…

Former President Olusegun Obasanjo has stated that poverty should not be a reality in Nigeria, given the country’s abundant natural and human resources. Speaking during a dinner hosted in his honor by the Abia State Government on Friday at the Government House in Umuahia, Obasanjo expressed deep concern over the mismanagement of Nigeria’s vast wealth. “Nigerians have no business with poverty because God has given us all that we need,” Obasanjo declared. “If we are mismanaging what God has given us, we have no one else to blame but ourselves.” Praise for Governor Otti’s Leadership The former president commended Governor…

Mohammed Idris, Nigeria’s Minister of Information and National Orientation, recently reaffirmed the country’s commitment to strengthening economic ties with France at the Nigeria Business Forum in Paris. During his address, he showcased Nigeria’s vast business opportunities, emphasizing the government’s ongoing efforts to attract sustained foreign direct investment. The forum was part of Nigeria’s broader strategy to promote its economic reforms, market potential, and investor-friendly climate. Idris highlighted the nation’s transformative journey under President Bola Ahmed Tinubu, spurred by the Renewed Hope Agenda—an eight-point strategic plan focused on unlocking Nigeria’s economic potential. “These historic reforms are building a more competitive, transparent,…

Fitch Ratings has upgraded Nigeria’s credit rating to B, maintaining the country’s position in the speculative-grade category. The upgrade reflects improved confidence in the government’s commitment to reforms, which have significantly reduced near-term risks to the country’s macroeconomic stability. Fitch stated that the upgrade was based on the government’s robust commitment to policy reforms introduced since the adoption of more orthodox economic policies in June 2023. These measures include the liberalization of the exchange rate, monetary policy tightening, and the removal of fuel subsidies, which were seen as major steps in stabilizing Nigeria’s economy. “The upgrade reflects increased confidence in…

The Federal Government is set to launch a de-risking fund in May to improve access to affordable financing for Micro, Small, and Medium Enterprises (MSMEs). This initiative was announced by the Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, during the 2025 International Women’s Day event organized by the Nigerian Association of Small and Medium Enterprises (NASME) on Saturday in Abuja. A Boost for MSMEs Adekunle-Johnson highlighted that the de-risking fund is part of a broader strategy to address high lending rates and stimulate the growth of small businesses across Nigeria. The fund aims to reduce…

Tawa Anike, the CEO of Righteous Ventures, is making a remarkable impact in Nigeria’s agricultural sector. Since launching her journey in 2022, Anike has been committed to revolutionizing agriculture and agribusiness through practical, hands-on training programs that empower youths and women. At the helm of Righteous Ventures, a thriving mushroom farm in Ondo City, Anike’s passion for sustainable agriculture shines through in her dedication to improving livelihoods. Her initiatives are not only focused on cultivating crops but also on nurturing entrepreneurship, self-reliance, and food security. Empowering Communities and Promoting Food Security Anike’s work at the community level is centered on…

As Aliko Dangote celebrates his 68th birthday, his journey represents more than just financial success; it’s about the transformation of entire regions and nations, turning barren landscapes into thriving industrial hubs and laying the groundwork for Africa’s economic future. Dangote’s story echoes his core belief: “You don’t have to be born rich. You can make it through hard work, dedication, and the right opportunities.” Dangote, Africa’s wealthiest individual, has dramatically reshaped the continent’s industrial landscape. A visionary entrepreneur and philanthropist, he has used his ambition and innovative spirit to transform vast, undeveloped lands—once barren bush paths—into bustling industrial cities. His…

With the ever-increasing cost of living, especially in bustling cities like Lagos, Abuja, and Port Harcourt, it’s becoming increasingly difficult for many Nigerians to rely solely on their 9-5 jobs. Double hustling has become the new norm to stay afloat. But the challenge is, how do you choose the right side hustle? The options can be overwhelming, and that’s where we come in. Let’s break down some of the most profitable and trending side hustles Nigerians are diving into in 2025. Social Media Management and Content Creation In 2025, businesses are more focused than ever on building a strong online…

According to Uzoma Nwagba, the Chief Executive Officer of CREDICORP, Nigeria needs around N180 trillion circulating within its financial system to unlock a credit economy that mirrors the success of South Africa’s. In a recent interview on Arise TV, Nwagba highlighted the challenges stifling Nigeria’s credit ecosystem. These include inadequate infrastructure, a lack of trust in the system, and poor credit visibility for most Nigerians. “To build a consumer credit system similar to what exists in South Africa, where about 50% of the population can walk into a store and purchase a car or laptop on credit, we need approximately…

Nigeria is bracing for a potential blow to its economy as U.S. tariffs—triggered by accusations of unfair trade practices—coincide with a sharp drop in global oil prices, threatening the revenue lifeline of Africa’s largest oil producer. The Trump administration’s recent 14% tariff on Nigerian goods, announced under its “Liberation Day” policy shift, officially took effect Wednesday. While oil and gas exports remain exempt from the tariffs, the move has indirectly contributed to a dip in oil prices, intensifying concerns about Nigeria’s already fragile fiscal balance. Oil Prices Tumble to Four-Year Lows As global markets react to the U.S. trade offensive,…

Nigeria’s fast-moving consumer goods (FMCG) sector, which had begun to find some relief amid a stable naira and easing inflation, is now grappling with fresh uncertainty as President Donald Trump’s sweeping tariffs ripple through global markets and fuel renewed pressure on the naira. The 14% U.S. import tariff on Nigerian goods—part of Washington’s broader clampdown on “unfair trade practices”—has triggered capital flight from frontier markets like Nigeria, prompting a flight to safety by offshore investors. The result: a sharp drop in the naira’s value, rising dollar demand, and mounting fears of a prolonged FX crisis. CBN Interventions Fall Short On…

For decades, Nigeria’s energy sector was largely defined by the influence of foreign oil majors. These international giants brought critical investments and advanced technologies—but also dominated decision-making, often prioritizing global interests over local development. Today, however, the balance of power is shifting. A new era is dawning—one driven by the rise of indigenous energy companies that are charting a bold and self-sufficient future for Nigeria. At the heart of this transformation is Renaissance Africa Energy, a beacon of local ownership and ambition. Renaissance isn’t standing alone. The likes of Seplat Energy, Oando Energy Resources, and others are rapidly expanding their…

In a groundbreaking move that positions Nigeria at the forefront of global gas logistics, Temile Development Company has signed a landmark contract with HD Hyundai Heavy Industries (HHI) for the construction of a state-of-the-art 88,000 cubic meter Very Large Gas Carrier (VLGC)—with an option for a second. This high-value agreement, exceeding $124 million, marks the first-ever VLGC order by an African-owned company, reinforcing Temile’s growing influence in the international energy transportation space. The ceremonial signing took place at the prestigious Dorchester Hotel in London, capturing global attention and underscoring a pivotal moment for Nigeria’s maritime ambitions. A Game-Changer for Nigerian…

At the Career Smart Woman Conference 2025, the Women in Career Advancement Network (WICAN) issued a bold call to action for women to own their empowerment journey and redefine success on their own terms. Held in Abuja, Nigeria, the conference brought together over 200 career and business women, uniting them under the banner of ambition, resilience, and transformation. Igniting Purpose and Possibility In her inspiring keynote address, Nonyelum Ujam encouraged women to believe in their dreams and pursue them without hesitation. “The major goal is to let the younger generation of girls see that you can achieve anything you set…

Nigeria is set to command attention at the 8th Financing Investment and Trade in Africa (FITA2025) conference, taking place May 6–7, 2025, in Tunis, Tunisia. The high-level event, organized by the Tunisia-Africa Business Council (TABC), coincides with the Council’s 10th anniversary, marking a decade of promoting economic integration and intra-African partnerships. Showcasing Nigeria’s Economic Vision Under the theme “Driving Africa’s Transformation,” FITA2025 will highlight investment opportunities in key sectors including industrial transformation, energy transition, digitalisation, and infrastructure modernisation—areas that align closely with Nigeria’s development priorities. Nigeria has been named one of five featured countries in the “Invest in” spotlight sessions,…