Author: Gift Ifeanyi

As Nigeria marks World MSME Day on June 27, the spotlight falls on Wema Bank — the country’s oldest indigenous financial institution — for its enduring commitment to the growth and sustainability of micro, small, and medium-sized enterprises (MSMEs). For eight decades, Wema Bank has played a pivotal role in fostering indigenous entrepreneurship, supporting thousands of businesses through capital, capacity building, digital innovation, and strategic partnerships. MSMEs: The Backbone of Nigeria’s Economy Globally, MSMEs contribute over 90% of businesses and 60–70% of employment, according to the United Nations. In Nigeria, they account for 96.9% of all enterprises, 87.9% of employment,…

Lagos, Nigeria – June 2025 — The Nigerian Content Development and Monitoring Board (NCDMB) and Dangote Petroleum Refinery & Petrochemical Company have formally inaugurated a Joint Technical Committee (JTC) to drive the implementation of local content during the operational phase of the 650,000 barrels-per-day Dangote Refinery. The official launch, held at the Dangote Free Trade Zone in Ibeju-Lekki, Lagos, marks a strategic milestone in enhancing industry collaboration and reinforcing local capacity building within Nigeria’s oil and gas ecosystem. The ceremony was presided over by NCDMB’s Executive Secretary, Felix Omatsola Ogbe, alongside Chief Edwin Devakumar, Group Vice President for Oil and…

The African Women Innovation and Entrepreneurship Forum (AWIEF) has officially opened nominations for the 2025 edition of its prestigious AWIEF Awards, spotlighting the exceptional achievements of women across the continent in innovation, leadership, and entrepreneurship. Since its launch in 2016, the AWIEF Awards have served as a beacon of recognition and inspiration, honoring women who are not only breaking barriers but also driving social and economic transformation across Africa. Now in its ninth year, the awards continue to amplify the stories of women whose ventures contribute meaningfully to sustainable development, gender inclusion, and economic empowerment. Award Categories Nominations are open…

The STRIDE Campaign, founded by Abisola Lekan-Akanbi, has officially launched with a bold mission to accelerate gender parity, foster inclusion, and elevate mental health awareness for Nigerian women. The campaign’s name — Succeed, Thrive, Renew, Impact, Dominate, Enhance — encapsulates its vision: to empower women in every aspect of life and society. At the launch event, Lekan-Akanbi shed light on the hidden burdens many women carry, from imposter syndrome and isolation to systemic silencing. She emphasized the emotional cost of masking these struggles and warned that “unchecked stress can slowly break down the nervous system,” resulting in anxiety and even…

In a historic step toward national development, Nigeria and Brazil have signed a $1 billion strategic agreement designed to modernize Nigeria’s agricultural sector, boost food security, accelerate energy reform, and strengthen defence cooperation. Signed at Presidential Villa, Abuja The landmark deal was officially announced during the Second Nigeria–Brazil Strategic Dialogue Mechanism (SDM) held at the Presidential Villa in Abuja. Speaking at the event, Nigeria’s Vice President Kashim Shettima highlighted the strategic significance of the partnership. “This partnership transcends geography—it is grounded in a shared vision between two vibrant democracies endowed with vast human and natural resources,” said Shettima. Transforming Agriculture:…

Nigeria’s fiscal health is under intense scrutiny as analysts caution that the nation may be edging into a full-fledged debt trap. Mounting concerns point to a situation where the government increasingly relies on fresh borrowing to meet maturing obligations—raising alarms over the risk of sovereign default. Over the past decade, Nigeria’s public debt has ballooned dramatically—up more than 1,000% in local currency terms. This surge is largely attributed to persistent fiscal deficits and the steep depreciation of the naira. Explosive Debt Growth and Currency Devaluation Data from the Debt Management Office (DMO), analyzed by Nairametrics Research, reveals that Nigeria’s public…

The Nigerian government has unveiled a new strategic initiative aimed at integrating micro, small, and medium-sized enterprises (MSMEs) into the continental export market under the African Continental Free Trade Area (AfCFTA). This initiative comes through the establishment of the country’s first National Export Trading Company. The project is being jointly implemented by the Federal Ministry of Industry, Trade and Investment in collaboration with the Nigeria Commodity Exchange, Afreximbank, and the Africa Trade and Distribution Company (ATDC). According to Minister of Trade Jumoke Oduwole, the new company is a “structural intervention” designed to streamline and scale up the export of Nigerian…

Abuja, Nigeria – Senior government officials and business leaders from the United States and Nigeria have formally inaugurated the working group meetings of the United States–Nigeria Commercial and Investment Partnership (CIP), marking a new chapter in economic collaboration between the two countries. The launch event, held in Abuja, follows the signing of a five-year Memorandum of Understanding (MoU) in July 2024 by U.S. Secretary of Commerce Gina Raimondo and Nigeria’s former Minister of Industry, Trade, and Investment. The CIP is designed to strengthen commercial engagement and unlock mutual opportunities in key economic sectors. Leading the inaugural session were Ambassador Richard…

The Nigerian Aviation Handling Company Plc (NAHCO) has been honoured with the prestigious “Aviation Ground Handling Company of the Year” award by Transport Day Media, a recognition of its exceptional performance and transformative impact on Nigeria’s aviation industry in 2024. Chairman and Editor-in-Chief of Transport Day Media, Mr. Frank Kintum, noted that the award underscores NAHCO’s resilience, operational excellence, and strong brand presence within the sector. In his remarks, Dr. Sola Obabori, NAHCO’s Group Executive Director for Corporate Services, expressed gratitude for the accolade, attributing it to the relentless efforts of the company’s workforce and their unwavering commitment to sustainable…

The Nigerian Association of Small and Medium Enterprises (NASME) has called on the federal government to establish permanent, revolving intervention funds to support long-term access to finance for micro, small, and medium-sized enterprises (MSMEs) nationwide. Speaking during a panel session at the 2025 MSME Forum in Abuja, NASME President Abdulrashid Yerima emphasized that short-term or one-off financial interventions are insufficient to address the structural funding constraints MSMEs face, especially in Nigeria’s challenging economic climate. Yerima acknowledged that past government support, particularly through institutions such as the Bank of Industry (BOI), has made a positive impact. However, he stressed the need…

Ambassador Emeka Nwaogu, Managing Director of Cool Financial Services Limited, has marked his 40th birthday amid tributes from colleagues and team members who praised his pivotal role in shaping a lending institution that champions accessible credit for Nigeria’s small and medium-sized enterprises (SMEs). Established in the aftermath of the 2020 economic crisis, Cool Financial Services emerged from Nwaogu’s desire to bridge a pressing market gap — the struggle faced by Nigerian entrepreneurs in securing timely and affordable credit without the restrictive collateral demands of traditional lenders. Reflecting on the company’s evolution, the management highlighted the formidable challenges the institution faced,…

Finance expert and entrepreneur Tunde Magbadelo has sounded the alarm over what he describes as a fragmented and burdensome regulatory landscape in Nigeria, cautioning that the lack of synergy among government agencies is accelerating the exodus of small businesses into the informal economy. Magbadelo, who manages cross-border finance operations between Nigeria and the United States through his firm, MyAnchor Consulting, emphasized on Monday that Nigeria’s current compliance architecture is impeding enterprise growth in Africa’s largest economy. “A single microbusiness in Nigeria may be required to engage with the Federal Inland Revenue Service, state tax authorities, the Corporate Affairs Commission, NAFDAC,…

In a strategic effort to advance economic inclusion, the National Commission for Persons with Disabilities (NCPWD), in partnership with Sightsavers Nigeria, has concluded a transformative two-day SME Clinic tailored for entrepreneurs living with disabilities. The workshop, held at Exclusive Serene Hotel in Abuja, brought together participants representing various disability groups nationwide. The initiative marked a milestone in promoting accessible entrepreneurship, skill development, and sustainable livelihood opportunities for persons with disabilities (PWDs) in Nigeria. Focused on equipping attendees with critical business tools, entrepreneurial insights, and institutional linkages, the SME Clinic aimed to enhance the capacity of PWD-led enterprises to thrive in…

As part of its broader mission to create economic opportunities and alleviate poverty, Mouka has reaffirmed its dedication to nurturing a vibrant ecosystem of prosperous business partners across Nigeria. This commitment was most recently demonstrated through the company’s World of Comfort 2025 Business Partner Reward Trip, a premium incentive program that celebrated outstanding trade partners with an exclusive all-expenses-paid trip to Cape Town, South Africa. The initiative forms a key pillar of Mouka’s strategy to foster long-term success for its trade network, which it views not just as distributors, but as valued stakeholders in the company’s ongoing journey. A total…

In a strategic move to deepen its footprint across West Africa, Rwandan agribusiness company Entreprise Urwibutso, led by founder and Managing Director Sina Gérard, has officially granted full distribution rights of its flagship product, Akabanga Chili Oil, to a Nigerian-based firm. This follows the firm’s complete acquisition of Akabanga 4U Limited, the previous local distributor. Speaking at a formal handover event in Lagos, Gérard expressed enthusiasm about Nigeria’s vibrant culinary culture, which he described as a natural fit for Akabanga’s bold, spicy flavour profile. “Nigeria represents one of Africa’s most dynamic consumer markets, celebrated for its rich and flavourful cuisine,”…

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has rolled out a new Conditional Grant Scheme (CGS) aimed at supporting micro and nano businesses across Nigeria. This federal government-backed initiative offers financial assistance of N50,000 per qualified business owner. What the Grant Is About The CGS is designed specifically for nano businesses operating at the Local Government Area (LGA) level. The grant is not a loan and is intended to help these small enterprises create jobs, acquire basic equipment, and improve overall business sustainability. Key Objectives Promote grassroots employment: Beneficiaries are expected to use the grant to hire…

MTN Nigeria, through its 2025 Yellow Care initiative, is calling on Nigerians to adopt digital technology as a vital tool for both personal growth and community transformation. Themed “Connecting at the Roots – Connecting Communities Through the Use of Digital Tools,” this year’s edition focuses on delivering practical digital resources to underserved communities across the country. A People-Led Initiative Unlike MTN Foundation’s corporate social responsibility programmes, Yellow Care is a staff-led, volunteer-driven initiative, now in its 18th year. MTN employees fund the initiative themselves—offering their time, skills, and money to directly uplift individuals in local communities. “This campaign is about…

The Financial Institutions Training Centre (FITC) has announced the first-ever edition of its Sustainability ESG Conference, scheduled to take place on June 26, 2025, at The Art Hotel, Victoria Island, Lagos. The event marks a major milestone in Nigeria and Africa’s collective journey toward integrating Environmental, Social, and Governance (ESG) principles into the heart of institutional, national, and regional development strategies. With the theme “Building a Prosperous Future: Unlocking Growth Opportunities Through Sustainability and ESG Innovation,” the conference is designed to ignite high-level discussions, foster strategic collaboration across sectors, and redefine ESG from a corporate checkbox to a transformative tool…

The Nigerian Bar Association Section on Business Law (NBA-SBL) is set to host the 19th edition of its Annual Business Law Conference from July 2 to 4, 2024, at Harbour Point, Victoria Island, Lagos. Themed “The Future of Business Law in an Intelligence Age,” the conference aims to redefine the future of legal practice in the context of rapid technological transformation. Announcing the event at a press briefing in Lagos, Ozofu Latunde Ogiemudia, Chairman of the NBA-SBL, emphasized the need for the legal industry to adapt swiftly to the evolving intersection of law, business, and intelligent systems such as AI…

Lagos, Nigeria – The Chief Executive Officer of Digital Equity Africa, Mrs. Justina Nnam Oha, has reaffirmed the organization’s commitment to expanding its infrastructure and nurturing Nigeria’s future trailblazers in Artificial Intelligence. Following the overwhelming success of the first-ever Kids Tech Fest, a global AI Summit for Children held at Landmark Event Centre, Lagos, Nnam Oha described the experience as a “historic moment in Africa’s tech story.” The event drew a crowd of over 5,000 attendees, including children, parents, educators, and tech enthusiasts—underscoring a growing appetite for digital empowerment in Africa. “The vision for us is clear: to raise the…