Author: Gift Ifeanyi

Olushola Olaleye, a distinguished business consultant and entrepreneur, has announced the second edition of his highly anticipated masterclass, Positioning for Profit, set to take place on April 24th and 25th in Lagos. This year’s theme, ‘The Profit Playbook: Turning Business Challenges to Cashflow’, aims to equip SME owners and career professionals with the tools needed to overcome economic hurdles and achieve sustainable growth.  Empowering Business Owners for Financial Resilience Building on the success of its inaugural edition, Positioning for Profit 2025 promises to deliver even greater value, offering actionable strategies to help businesses scale and thrive despite the evolving economic…

As the world shifts towards renewable energy, solar power stands as a key solution, especially for resource-rich countries like Nigeria. However, despite Nigeria’s vast solar potential and increasing demand for energy alternatives, its local solar manufacturing industry remains underdeveloped. The main issue lies in a policy contradiction: while fully assembled solar panels can be imported duty-free, the essential raw materials needed to produce these panels locally are burdened with significant import duties. This policy imbalance not only hampers the growth of local manufacturers but also undermines Nigeria’s industrialization ambitions and efforts toward energy independence. If Nigeria is serious about embracing…

📍 Location: Guildhall, London 🗓️ Date: April 7–8, 2025 🏅 Event: Freedom of the City of London Award 🎖️ Honouree: Jim Ovia, Founder and Chairman, Zenith Bank The Obi of Onitsha, His Royal Majesty Alfred Nnaemeka Achebe (Agbogidi), stood among global dignitaries on April 7, 2025, as he celebrated one of Nigeria’s most influential business icons — Jim Ovia — during a landmark recognition ceremony in London.  A Global Nod to Nigerian Excellence Jim Ovia was conferred with the Freedom of the City of London, a prestigious honour reserved for individuals who have made monumental contributions to commerce, innovation, and…

📍 Location: Asaba, Delta State 🗓️ Event: Construction Projects Conference by NBA-SBL 🎙️ Speaker: Comrade Muhammed Shehu, National President, ASCSN 🧱 Theme: “Making Construction & Infrastructure Projects Work Better” The Association of Senior Civil Servants of Nigeria (ASCSN) has issued a powerful call to action for Nigeria’s infrastructure sector, urging a shift towards innovation, sustainability, and resilience. Speaking at the second edition of the Construction Projects Conference held in Asaba, Comrade Muhammed Shehu, ASCSN National President, stressed the urgency of transforming Nigeria’s infrastructure landscape.  Power Sector and Infrastructure: The Backbone of National Growth In a stirring address, Shehu emphasized that…

Venue: Pistis Conference Centre, Lekki, Lagos Event: African Knockout (AKO8) Championship Participating Nations: Nigeria, Senegal, South Africa, Morocco, Togo, Cameroon, Cote d’Ivoire Eighteen elite fighters from across Africa brought the heat to Lagos at the AKO8 Championship, turning the Pistis Conference Centre into a cauldron of adrenaline, cheers, and unforgettable MMA action. From show-stopping knockouts to dramatic disqualifications, the event was a celebration of African athleticism and rising combat sports talent. Main Event: Diatta Dominates Senegal’s Gasmire Diatta stole the spotlight, delivering a ferocious TKO victory over Morocco’s Faout Youssef in the featherweight clash. Diatta’s precision striking and relentless aggression…

A Federal High Court in Kano has sentenced renowned make-up artist, Abdullahi Huseini, popularly known as Amuscap, to six months imprisonment for the abuse and defacement of the Nigerian currency at his wedding celebration. Presiding Judge Justice S.M. Shuaibu delivered the ruling after Huseini pleaded guilty to a one-count charge filed by the Economic and Financial Crimes Commission (EFCC). The charge stated that Huseini sprayed N100,000 in ₦1000 notes during a social event on December 6, 2024, at the Ali Jita Event Centre in Kano, violating Section 21(1) of the Central Bank Act, 2007.  EFCC Statement and Investigation According to…

In a bold move to empower small businesses and energize the creative economy, Ecobank Nigeria is taking the lead with its vibrant “Oja Oge by Ecobank” initiative—a dynamic pop-up marketplace designed to showcase and support fashion, beauty, wellness, and lifestyle entrepreneurs. Following the resounding success of its inaugural edition, the bank has announced the return of Oja Oge, with the second edition scheduled to hold at the ultra-modern Ecobank Pan African Centre (EPAC) in Lagos from April 18–20, 2025.  Empowering Creatives and SMEs Oja Oge is not just an event—it’s a platform for discovery, networking, and growth. It is expected…

The National Association of Nigerian Travel Agencies (NANTA) is gearing up to tackle the issues that have hindered the growth of Nigeria’s travel market. As part of its 49th Annual General Meeting (AGM), the association will discuss the emerging challenges and seek effective measures to protect the interests of stakeholders in the travel industry. Themed “Collective Prosperity Through Market Protection,” the AGM will take place on April 9th, 2025. During the event, Yinka Folami, the President of NANTA, emphasized the importance of creating protective measures against the emerging forces impacting the sector.  Deliberating on Solutions for Market Growth In an…

The ongoing volatility in Nigeria’s foreign exchange (FX) market is severely impacting small and medium-sized enterprises (SMEs), particularly those reliant on imported raw materials. The depreciation of the naira has driven up import costs, eroded profit margins, and disrupted business operations, leaving many SMEs in a dire situation.  The Impact on Importers Recent fluctuations in the naira have escalated import costs due to factors such as declining oil prices, inflation, and other market dynamics. Despite measures implemented by the Central Bank of Nigeria (CBN), including forex restrictions and multiple exchange rates, the stability of the naira remains uncertain, with mixed…

The Association of African Startups (TAAS) has called for greater inclusion of entrepreneurs in policy-making decisions, emphasizing that this would significantly boost the development of the sector in Africa. Just Omomo Ibe, the President of TAAS, stressed that policies affecting entrepreneurship in Nigeria and Africa at large should not be finalized without consulting top-tier industry players. According to Ibe, these entrepreneurs bring crucial market-driven insights that are necessary for the growth of the sector and the wider economy. Ibe made these remarks at the Build Initiative event in Lagos, themed ‘Building Profitable and Thriving Businesses in Africa’. She pointed out…

Pascal Dozie, a Nigerian entrepreneur renowned for his influential role in shaping Nigeria’s banking and telecommunications industries, has passed away at the age of 85. The news of his death was shared in a family statement by his son, Uzoma Dozie, on April 8. Uzoma described his father as a “devoted husband, father, grandfather, and a man of unwavering Catholic faith.” “With deep sorrow, but with gratitude to God for a life well spent, we announce the passing of our beloved father,” Uzoma said, highlighting his father’s lifelong service to God, family, and country. Legacy in Banking and Telecommunications Mr.…

The United States Trade Representative (USTR) has criticized Nigeria for imposing an import ban on 25 different product categories, which it claims are adversely impacting American exporters. The ban comes amid escalating trade tensions globally, with the USTR listing Nigeria’s actions as one of the 10 unfair trade practices that various nations are engaging in, restricting U.S. market access. Impact on U.S. Exporters The USTR highlighted that Nigeria’s import ban covers a range of products, including beef, pork, poultry, fruit juices, medicaments, and spirits. These restrictions limit U.S. market opportunities, especially in sectors such as agriculture, pharmaceuticals, beverages, and consumer…

In the evolving landscape of global commerce, small and medium-sized enterprises (SMEs) remain the bedrock of economic growth. But for many of these businesses, outdated payment systems silently erode their potential. Enter Fajimokun Moses Kolawole, Nigeria’s renowned digital payment strategist, whose groundbreaking work is reshaping the future of SME transactions across continents. A Vision Rooted in Innovation and Experience With over 16 years of experience in digital finance, Kolawole currently serves as the Vice President of Offline Distribution at Moniepoint Inc., where his forward-thinking frameworks are saving SMEs billions monthly. From his early work designing bespoke Point of Sale (POS)…

Nigeria’s tech ecosystem faced a major setback in 2024, with six local startups among the eleven African companies that shut down, hibernated, or entered administration, according to the Startup Graveyard report. This trend not only underscores the persistent challenges facing Nigerian startups but also paints a broader picture of Africa’s volatile startup landscape. Who’s Affected? The Nigerian startups that shut down include: ThePeer HerRyde Chopnownow Cova BuyCoins Pro Quizac These closures join a list of others across the continent, such as GroIntelligence, CopiaGlobal, RejaReja, and iProcure (all from Kenya), and LetsChat, which operated in multiple countries. What Went Wrong? While…

At the 36th Enugu International Trade Fair, Governor Peter Mbah reaffirmed his administration’s dedication to creating a thriving business climate in Enugu State, with a strong focus on small and medium-sized enterprises (SMEs). Represented by Deputy Governor Barr. Ifeanyi Ossai, Mbah emphasized efforts to boost the Ease of Doing Business, strengthen infrastructure, and build partnerships that will spur long-term economic growth. Held under the theme “Developing Nigeria’s Industrial Sector/SMEs for Economic Advancement and Global Recognition,” the event brought together stakeholders across industries, commerce, and governance. Commitment to Business-Friendly Reforms Governor Mbah highlighted several key initiatives aimed at improving the business…

The Federal Capital Territory (FCT) has officially commissioned the first phase of the Kugbo International Market, a landmark project poised to revolutionize trade, support small businesses, and enhance job creation within Abuja and beyond. Unveiled by Dr. Mariya Mahmoud, Minister of State for the FCT, the market was developed under a public-private partnership and is set to play a vital role in advancing economic development while aligning with President Bola Tinubu’s Renewed Hope Agenda. A Hub for Entrepreneurial Empowerment Constructed through a Build-Operate-Transfer (BOT) model between the Abuja Investment Company Limited (AICL) and Mesotho Group, the market features: Over 1,600…

A Nigerian court has postponed the tax evasion trial involving global cryptocurrency exchange Binance and two of its executives until April 30, giving the Federal Inland Revenue Service (FIRS) time to respond to a legal challenge filed by the company. Binance’s legal counsel, Chukwuka Ikwuazom, argued that the court’s earlier February 11 order allowing court documents to be served via email was invalid. He noted that the tax authority failed to obtain court approval to serve legal documents on a foreign entity—Binance being registered and based in the Cayman Islands with no physical office in Nigeria. “The order for substituted…

In a surprising twist, Nigerians are witnessing an increase in fuel prices despite a significant fall in global crude oil prices. This paradox, experts say, is being driven by foreign exchange complications, logistics costs, and policy decisions by the Nigerian National Petroleum Company (NNPC) Limited. Global Prices Down, Local Prices Up Global crude oil recently dropped to $65 per barrel, its lowest since 2021, largely due to Donald Trump’s tariff moves and an OPEC+ supply increase. This sharp drop should have lowered petrol costs in Nigeria, a crude-importing country. However, the ex-depot petrol price in Lagos rose by ₦40, moving…

Nigeria’s aviation sector is in crisis, with 80% of the country’s airports operating at a loss and only a handful contributing meaningfully to the national economy. Despite being home to over 30 airports, only four are economically viable—Lagos, Abuja, Kano, and Port Harcourt—highlighting deep-rooted structural and financial issues plaguing the industry. FAAN’s Financial Burden and Underutilized Airports The Federal Airports Authority of Nigeria (FAAN), which oversees 22 federal airports, is struggling to stay afloat. While the agency lists 1,922 employees on its LinkedIn page, some reports suggest the workforce may exceed 10,000 when including contracted staff. Yet, many airports under…

Dangote Industries Limited has reaffirmed its commitment to developing ancillary industries and deepening Nigeria’s self-sufficiency across critical sectors, including petroleum refining, agriculture, cement production, and mining. At the ongoing 36th Enugu International Trade Fair, Dr. Abayomi Shittu, Regional Sales Director for Southeast Dangote Cement, spoke with the News Agency of Nigeria (NAN), stressing that the Dangote Petroleum Refinery will not only serve as a vital source of refined fuels but also as a catalyst for industrial development across the nation. Driving Growth Through Ancillary Industries Ancillary industries—such as pipeline infrastructure, petrochemical plants, fuel retailing, and transportation logistics—are poised to flourish…