Author: Gift Ifeanyi

Back in 2018, when agency banking in Nigeria was still in its infancy, Bello Kano and Tayo Akintoye pooled ₦400,000 ($285) to start a point-of-sale (PoS) business. What began as two friends experimenting with payments soon evolved into something much larger. Within three years, their small stake had ballooned into ₦50 million ($35,700). Their secret? A combination of customer trust, bold innovation, and an uncanny ability to see value where others didn’t. Kano’s first breakthrough wasn’t in payments—it was in community building. By designing and constructing affordable shops for roadside vendors in Kano State, he created what would later be…

Nigeria is racing against time. Inflation is climbing, supply chains are stalling, insecurity and climate shocks are worsening, and an overreliance on imports keeps the country at the mercy of global trade disruptions. From COVID-19’s aftershocks to tariff wars and the threat of future pandemics, the cracks in Nigeria’s economic foundation are glaring. But within this chaos lies a paradoxical opportunity: waste. Every year, Nigeria produces over 32 million tonnes of solid waste, yet only a fraction is recycled. The rest ends up clogging drains, polluting ecosystems, or fueling health hazards in overcrowded dumpsites. Ironically, the very people who salvage…

At the sixth edition of the Wealth Summit in Lagos, billionaire industrialist Dr. Cosmas Maduka, Chairman of Coscharis Group, delivered a blunt but inspiring charge to young Nigerians: take ownership of your future. Speaking to an audience of entrepreneurs and innovators, Maduka emphasised that long-term success is built on discipline, savings, and relationships—not luck. “Only a fool spends everything he has. Start saving from childhood. True wealth is not money in hand, but access, networks, and the value you create,” he said. Maduka’s story, which drew nods across the room, underscored his point. Orphaned at ten, he began hawking spare…

For many Nigerian entrepreneurs, the biggest hurdle to scaling is not the brilliance of their ideas but the struggle to secure funding. To address this, the Grooming Endowment Trust (GET) has unveiled the fourth edition of its Accelerated Programme, opening doors for small businesses and startups to access up to ₦2 million in equity-free grants. Unlike traditional funding schemes, GET’s initiative combines capital with mentorship, training, and investor access—a model designed to set young businesses on the path to sustainable growth. What the Programme Offers The Accelerated Programme is built on the GET Compass framework, a support system tailored for…

Nigeria is pouring an astonishing $10 billion each year into food imports — from wheat and rice to sugar, fish, and even tomato paste. For a nation blessed with fertile soil and abundant youth power, this dependence has become a paradox the government says can no longer continue. Speaking at the First Bank Agric and Export Expo 2025, Minister of Agriculture and Food Security Abubakar Kyari — represented by his aide Ibrahim Alkali — lamented the heavy import bill and urged a total rethink of how agriculture is financed. Despite agriculture contributing 35% to GDP and employing over a third…

Nigeria has positioned itself as the largest hub for stablecoin use in Africa, with transactions valued at nearly $22 billion between July 2023 and June 2024, according to fresh insights from Yellow Card, a major digital payments and stablecoin infrastructure provider. The report, Stablecoin Adoption in Emerging Markets, reveals how Nigerians are increasingly turning to dollar-backed tokens as protection against the naira’s turbulence and persistent shortages in foreign exchange supply. Stablecoins now represent 43% of total crypto transaction volumes across Sub-Saharan Africa, cementing their role as a financial lifeline. “Stablecoins are no longer just speculative tools; they’ve become essential for…

Nigeria is set for a major fiscal shake-up as the Federal Government initiates a long-overdue review of the nation’s revenue allocation framework — the first comprehensive reform in over three decades. Mohammed Shehu, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), revealed the plan in Abuja, describing it as a “historic reset of fiscal federalism” designed to align resource distribution with the growing responsibilities of state and local governments. The country’s current formula — 52.68% for the Federal Government, 26.72% for states, and 20.60% for local councils — has remained largely unchanged since 1992, with only minor executive…

Lagos became the heartbeat of women-led enterprise from August 6–8, as over 80 female entrepreneurs converged for SheConnectsAfrica 2025, a three-day intensive workshop that redefined how women can seize opportunities under the African Continental Free Trade Area (AfCFTA). Far from being another conference, the programme delivered hands-on training, expert-led discussions, and problem-solving clinics aimed at equipping women with the skills to expand their businesses across borders. From navigating tariffs and regulations to mastering financial access and compliance, participants left with practical strategies they could immediately apply. “This was about more than theory—we designed every session to leave women with tools…

Nigeria’s economy runs on small and medium-sized enterprises (SMEs). They make up nearly all businesses in the country and provide jobs for most of the workforce. Yet, despite this dominance, their economic impact falls short — contributing less than half to the nation’s GDP. By comparison, SMEs in South Africa generate over 50 percent of their country’s output. The problem is not creativity or ambition; it is the absence of structure. The Hidden Weakness No One Talks About From the bustling streets of Lagos to the entrepreneurial hubs of Abuja, Nigeria brims with energetic founders, bold ideas, and an endless…

Every year, Nigeria’s universities, polytechnics, and colleges release thousands of graduates into the labour market. Decades ago, these young professionals were hot commodities — courted by both government and private firms with attractive job offers even before graduation. But today, that pipeline of opportunity has collapsed. It is no longer just a weak economy shutting down industries and limiting new jobs. A more painful truth lies beneath: too many graduates are leaving school ill-equipped for the modern workplace. Employers say the gap is less about certificates and more about skills — a verdict that has thrown the issue of graduate…

The Agbaja Leaders of Thought have called on local and foreign investors to seize opportunities at the 9th Mile Industrial Park in Udi, Enugu State, positioning it as a future engine of economic growth. Speaking at a press briefing in Enugu ahead of the Agbaja 2025 Summit scheduled for November 26–27, the group highlighted the industrial and cultural potential of the region, which spans Udi, Ezeagu, Oji-River, Igboetiti, and parts of Enugu North, South, and East. Rev. Ugo Chime, a trustee and past chairman of the summit planning committee, described 9th Mile as an industrial jewel endowed with natural resources…

Nigeria’s push to strengthen offshore energy operations has received a boost with ARCO Marine & Oilfield Services Ltd expanding its fleet through the commissioning of a new Surfer vessel. The addition signals not just a milestone for the company, but also highlights the intensifying competition in the country’s maritime logistics space. In less than two years, ARCO Marine has doubled its active fleet from five to ten vessels, a remarkable pace that underscores its determination to lead in offshore transport and support services. The company is not slowing down either—plans are already underway to scale the number to fifteen by…

Nigeria has taken decisive steps toward addressing its long-standing electricity challenges, as the Federal Executive Council (FEC) recently approved a fresh wave of investments aimed at strengthening the national grid, modernizing ageing infrastructure, and stabilizing supply for industries and households. The Minister of Power, Adebayo Adelabu, announced the approvals after a Council meeting presided over by President Bola Ahmed Tinubu at the Presidential Villa in Abuja. He described the decisions as “a new phase” in the administration’s drive to overhaul the power sector and deliver consistent, reliable energy to citizens. Strategic Transmission Upgrade At the heart of the approvals is…

The story of the Dangote Refinery is not just about oil and petrochemicals — it is about the triumph of private initiative over decades of government inertia. At its core, this project highlights how entrepreneurship, vision, and risk-taking can succeed where public institutions have consistently failed. Economist Joseph Schumpeter once described entrepreneurs as “agents of change” — those who revolutionize production and uncover new possibilities. History has proven him right. From Bill Gates’ digital revolution to Elon Musk’s futuristic ventures, innovation has always sprung from individuals bold enough to challenge convention. Africa’s own Aliko Dangote now carries that torch, showing…

Nigeria’s industrial future is being reshaped by two powerful technologies — edge computing and Human Machine Interfaces (HMIs). Schneider Electric, a global leader in energy management and automation, is placing these innovations at the center of its vision for Nigerian businesses, arguing that they are no longer “emerging tools” but critical engines of growth, resilience, and competitiveness. The Edge Advantage in a Challenging Environment In countries like Nigeria, where connectivity can be unreliable, edge computing has become indispensable. Instead of sending all data to the cloud, edge systems process and analyze information directly at the source — near machines or…

The Nigerian National Petroleum Company (NNPC) Limited, Sahara Group, and WAGL Energy Limited have announced a significant expansion of their joint venture fleet, which now exceeds 160,000 cubic meters in capacity. This development strengthens WAGL Energy’s standing as one of Africa’s foremost suppliers of Liquefied Petroleum Gas (LPG) and underscores Nigeria’s growing role in the continent’s energy transition. Driving Energy Access Across Africa In a statement released on its official X (formerly Twitter) handle, NNPC emphasized that the expansion aligns with its mission to deliver sustainable and affordable energy solutions to households, businesses, and industries. “WAGL Energy Limited, a joint…

Nigeria’s two largest telecom operators, MTN and Airtel, are making an ambitious push beyond voice and data into cloud and AI services, with nearly $400 million in new investments. Their goal: to capture a bigger slice of Nigeria’s fast-growing cloud market and stop billions of naira from flowing to overseas providers. Taking on the Global Giants Today, Nigerian startups and enterprises spend an estimated $600–$850 million annually on cloud services, but the bulk of that money goes to AWS, Microsoft Azure, and Google Cloud. For local firms billed in dollars, cloud costs have soared as the naira slid from ₦471/$…

At the 2025 Production and Manufacturing Business Summit, industry leaders emphasized that the true engine of business growth is not machinery, but people. Tara Fela-Durotoye, founder of House of Tara, called on Nigerian manufacturing firms to place continuous employee training at the heart of their strategy. “Every business must become a school,” she declared. “Technology and machines may drive efficiency, but it is people who deliver innovation, sustainability, and long-term impact.” Durotoye urged companies, especially small and medium-sized enterprises (SMEs), to develop structured training programmes that transform workplaces into talent academies. She stressed that training should never be seen as…

President Bola Tinubu commenced his two-nation diplomatic mission with a touchdown in Tokyo, where he will take part in the Ninth Tokyo International Conference on African Development (TICAD9). Nigeria Air Force 1, carrying the President, landed at Haneda International Airport around 12:55am local time, where he was warmly received by Hideo Matsubara, Japan’s Ambassador in charge of TICAD. This trip marks Tinubu’s first official visit to Japan since assuming office on May 29, 2023. In Yokohama, the President is expected to position Nigeria as a premier investment hub, engaging with Japanese business leaders already active in the country’s economy and…

The National Information Technology Development Agency (NITDA) and Alami Capital, in partnership with the Securities and Exchange Commission (SEC), have unveiled The LaunchPad at GITEX Nigeria 2025 — a pioneering investment and venture-building platform dedicated to accelerating Africa’s most promising women-led startups. Women account for 27% of business ownership in Africa and contribute 13% to the continent’s GDP. Yet, they secure only 7% of venture capital funding. The LaunchPad is designed to bridge this persistent innovation gap by channeling equity investment and strategic support into women-owned startups, ensuring they move from survival to scale. “Who gets funded determines what gets…