Author: Gift Ifeanyi

Lagos, Nigeria – Africa’s richest man, Aliko Dangote, has expressed confidence in the face of recently imposed U.S. tariffs on Nigerian exports, saying he is “comfortable” with the potential impact on his urea shipments to the United States. Speaking at an investment conference in Lagos, Dangote acknowledged that while the 14% tariff introduced by former U.S. President Donald Trump initially raised concerns, the higher tariff on a key competitor has helped level the playing field. “When I first heard about the 14% tariff on Nigeria, I was worried,” Dangote said. “But when I checked who we’re really competing with—it’s Algeria.…

Dr. Uzonna Nwangwa, Group Managing Director and CEO of Irvin Global and Investment Group, has been recognized as one of Africa’s top young leaders at the renowned 40Under40 T.I.M.E. Conference. This prestigious honor celebrates 40 exceptional individuals under the age of 40 who are making transformative impacts across industries and communities on the continent. Celebrating Africa’s Visionary Change-Makers The T.I.M.E. Conference, an acronym for Trailblazers, Innovators, Mentors, and Entrepreneurs, is a highly esteemed platform dedicated to spotlighting the brightest minds shaping Africa’s future. Dr. Nwangwa’s recognition affirms his influential role in Nigeria’s financial services industry and his commitment to inclusive…

Ibadan, Oyo State – The Nigerian Bar Association Section on Business Law (NBA-SBL) will host the second edition of its Tourism and Retreat Roundtable from May 9 to 11, 2025, at De-Signature Hotels, Ibadan, Oyo State. Themed “Repositioning Nigeria’s Tourism and Hospitality Sectors: From Seasonal Hype to Sustainable Prosperity,” this year’s Roundtable seeks to build on the success of the inaugural retreat, which took place in Abeokuta, Ogun State, in October 2024. The 2024 event featured prominent speakers, including the Ogun State Commissioner for Tourism, who delivered the keynote address. Keynote Speaker & Panel Discussions The 2025 event will bring…

At the Doing Business in Nigeria Conference 2025 held in Lagos, prominent business leaders urged Nigerian companies to embrace innovation and invest in talent to thrive in a challenging economic landscape. The summit, which brought together top executives and policymakers, was centered around the theme “Navigating the Storm: Thriving in a Transforming Nigeria.” It featured insightful panel discussions, fireside chats, exhibitions, and business pitches. Leadership and Talent: Key to Surviving Uncertainty In his keynote address, Fola Aiyesimoju, Group Managing Director of UAC of Nigeria PLC, emphasized that the survival of Nigerian businesses in uncertain times depends largely on leadership and…

Nigeria’s cold chain sector, valued at N160 billion in 2023, is ripe for investment, with massive opportunities emerging in storage and transportation solutions for perishable goods. However, the country faces a significant shortfall in cold chain infrastructure, with fewer than 1,000 cold trucks available, far below the 25,000 needed to transport over 11 million metric tonnes of perishables annually, according to a report by the U.S. International Trade Administration (ITA). A Growing Market with Untapped Potential The cold chain sector is rapidly becoming one of Nigeria’s most promising industries, offering a variety of investment avenues. From automated storage systems and…

In a high-powered room on the 14th floor of the NASDAQ Building in Times Square, New York, global finance giants and top investors from firms like JP Morgan and Standard Chartered gathered to hear Nigeria’s pitch. Alongside them were influential members of the Nigerian diaspora, including the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, CEO of the Nigerian Exchange (NGX) Temi Popoola, and CEO of the Central Securities Clearing System (CSCS) Haruna Jalo Waziri. The mission was clear: Nigeria is open for business, and it wanted the world to know. This gathering was one of many side…

MTN Nigeria has posted an impressive N1 trillion in revenue for the first quarter of 2025, a 40.5% increase from the N752.9 billion reported in Q1 2024. This surge was driven by the recent tariff adjustment implemented in February 2025, although the full effects of the tariff increase are yet to be fully realized. Return to Profitability The telecom giant has made a remarkable recovery, bouncing back from a loss of N392.7 billion in Q1 2024 to record a profit of N133.7 billion in Q1 2025. The positive financial performance signals the company’s resilience and strategic recovery. In response to…

Nigerian businesses spent a staggering ₦164.4 billion on travel in 2024, as rising airfares, hotel rates, and logistics pushed mobility costs to historic highs. This insight comes from Nairametrics’ analysis of the financial statements of 20 companies listed on the Nigerian Exchange (NGX). But beyond the huge numbers lies a deeper tale of economic strain, FX volatility, and strategic repositioning by major firms. Soaring Airfares and Foreign Exchange Woes Travel costs soared primarily due to the escalating prices of both local and international flights. Airlines such as Air Peace and Ibom Air, along with global carriers, were forced to adjust…

In an insightful conversation, Seyi Asagun, finance veteran and CEO of Entourage Integrated Trust, shares how his journey from banking to micro-lending is transforming small business access to capital in Nigeria. With over 30 years of experience in finance and entrepreneurship, Asagun speaks on the realities of Nigeria’s business environment, the potential of microfinance, and the need for financial literacy. From Kaduna to CEO: The Journey of Seyi Asagun Seyi Asagun’s path into finance is rooted in a classic story of ambition and perseverance. Raised in Kaduna, he studied Mathematics and Statistics at Kaduna Polytechnic, earned a marketing diploma from…

Nigeria has taken a significant step toward solving its persistent power crisis with the commissioning of a new 414-megawatt (MW) gas-fired power plant in Geregu, Kogi State. The plant, officially launched by President Olusegun Obasanjo, is expected to provide a much-needed boost to the country’s national electricity grid, especially after recent generation setbacks. The Geregu power station is one of four major plants initiated in 2002 under Nigeria’s national power development strategy. President Obasanjo announced that the remaining three plants are near completion and will inject an additional 1,174 MW into the grid. Once completed, these projects are expected to…

Nigerian consumers are no strangers to using globally recognized payment cards like Verve, Mastercard, and Visa for daily financial transactions. For years, these international networks have formed the backbone of banking services across the country. However, in 2023, the Central Bank of Nigeria (CBN) introduced an ambitious alternative: the Afrigo card—a homegrown, cost-effective payment solution designed to reduce Nigeria’s reliance on foreign card networks. The initiative was hailed as a step towards financial sovereignty, with a focus on enhancing inclusion and minimizing capital flight due to international transaction fees. Despite its promising potential, Nigerians are still waiting for the full…

TelCables Nigeria, a subsidiary of Angola Cables (www.AngolaCables.co.ao), has announced it will host the Connect Xperience event—an initiative aimed at bringing businesses and strategic partners together to explore how local cloud infrastructure can drive Nigeria’s digital transformation and deliver widespread benefits across multiple economic sectors. Currently, Nigeria’s cloud computing market is estimated at $1.03 billion and is projected to grow to $3.28 billion by 2030. As digital adoption continues to surge across financial, technology, and commercial industries, reliance on cloud-based services is becoming increasingly vital. The Connect Xperience event will spotlight the benefits of utilizing locally hosted cloud services, including…

The Acting Deputy Chief of Mission for the United States in Nigeria, Christine Harbaugh, has affirmed that Nigeria’s recent admission as an associate member of the Global Cross-Border Privacy Rules (CBPR) Forum will help attract foreign investment by reinforcing trust in the country’s digital economy. Harbaugh made this statement at the 2025 African Data Protection Authorities (NADPA/NAPDP) Conference and Annual General Meeting held in Abuja. She emphasized that Nigeria’s participation in the CBPR Forum enhances its appeal as a destination for digital business, stating:“By joining the Global Forum, Nigeria becomes part of an international coalition committed to minimizing data protection…

The Nigerian Gas Association (NGA) has announced that Nigeria will make a prominent appearance at the 2025 World Gas Conference in Beijing, China, led by key government officials and industry leaders. Heading the Nigerian delegation to this triennial global energy event is the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo. According to a statement from the NGA, the minister is also scheduled to speak at the conference alongside other global energy experts. Joining the minister are several notable figures in Nigeria’s energy sector: Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed; Group Chief…

Nigeria is preparing to host the 4th African Union MSME Forum in Abuja, with a spotlight on innovation, market accessibility, and financing solutions. President Bola Tinubu has approved the formation of an Oversight Committee tasked with organizing the country’s hosting of the 4th African Union Micro, Small, and Medium Enterprises (MSME) Forum, scheduled to take place from June 23 to 27 in Abuja. The 2025 edition of the Forum carries the theme: “Building Resilient MSMEs through Digital Innovation, Market Access & Affordable Financing for Africa.” According to a statement released Wednesday by Stanley Nkwocha, Media Assistant to the Vice President,…

The Economic and Financial Crimes Commission (EFCC) has pulled the curtain back on what it describes as a sophisticated web of financial crimes involving popular Nigerian socialite and businesswoman, Aisha Achimugu. Accusations include money laundering, operating a Ponzi scheme, illegal possession of property, and other financial misconducts. Achimugu was arrested in the early hours of Tuesday at the Nnamdi Azikiwe International Airport in Abuja upon her arrival from the UK—just one day after a Federal High Court judge ordered her to submit to EFCC interrogation, despite her pending legal action to prevent it. On Wednesday, she appeared in court where…

Nigeria is at a pivotal moment. With rising inflation, a volatile foreign exchange market, and the economic strain from subsidy removals and inconsistent policies, the nation must ask a crucial question: What path leads to lasting economic stability? As a cocoa entrepreneur and business consultant, I believe the answer lies not in new frontiers, but in rediscovering old strengths. The key to Nigeria’s economic revival is agriculture—specifically, cocoa and its vast, underutilized value chain. Cocoa: Nigeria’s Missed Economic Powerhouse Cocoa is more than just a cash crop; it is a strategic asset. Decades ago, Nigeria stood tall as one of…

In a bold move to empower small and medium-sized enterprises (SMEs) in Nigeria, fintech company Salad Africa has partnered with Glovo, a leading multi-category delivery platform, to launch an innovative financing initiative aimed at closing the credit gap for local businesses. This partnership introduces a first-of-its-kind embedded lending program that provides eligible Glovo partners—primarily restaurants and retailers—with access to flexible working capital at more competitive rates and terms than those offered by traditional banks. The initiative is designed to help SMEs scale faster, launch new services, and increase revenue directly within the Glovo ecosystem. A New Era for SME Lending…

OmniRetail, a Nigerian tech startup revolutionizing supply chains for informal retailers, has raised $20 million in Series A funding to accelerate its growth across Nigeria, Ghana, and Côte d’Ivoire. The company aims to strengthen its footprint in West Africa while expanding its embedded finance offerings, including credit services tailored for small retailers. The funding round marks a significant milestone, with Norfund—the Norwegian Investment Fund for developing countries—making its first-ever direct investment in an African startup. Returning investor Timon Capital, which supported OmniRetail’s earlier round in 2022, also participated. Other notable backers include Ventures Platform, Aruwa Capital, Goodwell Investments via Alitheia…

Nigeria’s Warri Refinery has shut down operations barely a month after it was declared functional, raising alarms over the transparency and effectiveness of its $897.6 million rehabilitation effort. According to a document from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) obtained by The Punch, the refinery failed to produce Premium Motor Spirit (PMS) before being shut down on January 25, 2025, due to safety issues in its Crude Distillation Unit (CDU) Main Heater. The incident has renewed public scrutiny of Nigeria’s refinery management and the government’s handling of oil infrastructure. Industry stakeholders expressed deep disappointment, particularly as the…