Author: Gift Ifeanyi

A new study by Moniepoint Microfinance Bank has uncovered a concerning trend among Nigeria’s small business community — nearly half of them (42%) would struggle to stay afloat for even one month without steady income. This insight, drawn from the second edition of the Informal Economy Report, underscores the financial vulnerability of small enterprises that power much of Nigeria’s economy. Backed by the Federal Ministry of Industry, Trade and Investment and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the forthcoming report sheds light on how deeply the informal sector shapes livelihoods and employment across the country. “The…

Nigeria’s oil and gas services sector has received a major financial push as the Nigerian Content Development and Monitoring Board (NCDMB) and the Nigerian Export-Import Bank (NEXIM) jointly disbursed $42 million to empower local Small and Medium Enterprises (SMEs). The initiative, announced during the NCDMB Stakeholders Sensitisation and Engagement Forum in Port Harcourt, is part of a broader effort to deepen local content participation through certification, compliance, and access to funding. According to Muhammed Awami, Head of Specialised Business at NEXIM, the bank has already surpassed its $30 million working capital fund, reflecting strong demand from indigenous oil service providers…

In a bid to strengthen Nigeria’s agricultural value chain, the Enterprise Development Centre (EDC) of Pan-Atlantic University, in collaboration with the Alliance for a Green Revolution in Africa (AGRA), has launched an innovative platform designed to expand access to finance and growth opportunities for agribusinesses across the country. The initiative, themed “Funding the Future: Powering Nigeria’s Agric-SMEs,” was introduced at a two-day networking forum in Lagos that brought together entrepreneurs, investors, government representatives, and business service providers to discuss practical strategies for scaling agricultural enterprises. The gathering featured panel discussions, interactive sessions, and case studies highlighting the resilience and innovation…

The World Bank has called on Nigeria to shift its economic strategy from short-term currency stabilization to deeper, structural reforms that can secure lasting strength for the naira. In its October 2025 Nigeria Development Update, titled “From Policy to People: Bringing the Reform Gains Home,” the institution highlighted the need for consistent foreign exchange (FX) reforms, greater policy clarity, and stronger non-oil revenue systems. According to the report, recent policy moves by Nigerian authorities have helped restore confidence and bring relative calm to the FX market. Yet, the World Bank cautioned that these gains remain fragile, as the system still…

When Steve Adleman talks about Nigeria’s startup ecosystem, there’s a light in his eyes — the kind that belongs to someone who has seen raw potential before it becomes global success. The California-born managing director of Nexus Partners has spent decades guiding early-stage ventures in Silicon Valley. But lately, his heart — and calendar — are firmly set on Nigeria. “This is my third trip to Nigeria this year,” he says with a smile on the sidelines of the #StartupSouthX conference in Port Harcourt. “I came for the conference and for the Imo State governor’s book launch. But really, I’m…

Citi has reaffirmed its long-term commitment to Nigeria with a major capital boost, successfully meeting the Central Bank of Nigeria’s (CBN) tough new capitalisation standards. The global bank injected fresh funds into its Nigerian operations to align with the ₦200 billion ($136 million) minimum capital requirement for national lenders — a move regulators say will strengthen the financial system against inflation and currency pressures. “With a stronger balance sheet, Citi is better positioned to deepen support for key sectors such as infrastructure, energy, and trade,” the bank said in a statement to Bloomberg. “This investment reflects our confidence in Nigeria’s…

For decades, Akwa Ibom’s identity has been tied to oil. But today, the state is scripting a new story — one powered by code, creativity, and collaboration. At the Ibom Ignite Conference 2025 in Uyo, Governor Umo Eno unveiled a bold vision: a partnership with T2 to transform Akwa Ibom into a digital innovation hub for the South-South. The move signals a dramatic shift from a resource-dependent economy to one driven by technology and human talent. The conference — buzzing with youthful energy, startup pitches, and inspiring conversations — became a symbol of this new direction. Its theme, “Ignite to…

The opening of Afrinvest (West Africa) Limited’s new branch in Enugu State has ignited conversations about the future of enterprise in the Southeast, with calls for a shift from personality-driven businesses to structured, multi-generational institutions capable of sustaining regional prosperity. At the inauguration ceremony, Governor Peter Mbah emphasized that for the Southeast economy to achieve long-term growth, business owners must begin to build enduring systems rather than enterprises tied solely to individual founders. Represented by his deputy, Ifeanyi Ossai, the governor urged the region’s entrepreneurs to adopt institutional frameworks similar to global corporations that thrive beyond their originators. “We Igbos…

The Adamawa State Government has unveiled an ambitious investment drive, calling on local and foreign entrepreneurs to take advantage of its fast-growing economy and emerging business opportunities. Speaking at the Adamawa Special Day during the 2025 Abuja International Trade Fair, Governor Ahmadu Umaru Fintiri described the state as “a frontier of peace, innovation, and enterprise ready for bold investors.” Represented by Musa Kiri, Permanent Secretary at the Ministry for Local Government Affairs, the governor said Adamawa now offers one of the most enabling business environments in Northern Nigeria, backed by improved infrastructure, industrial policies, and a growing youthful workforce. “Our…

Vice President Kashim Shettima has cautioned both the Dangote Refinery management and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to resolve their differences peacefully, stressing that Nigeria’s economy cannot be jeopardized by a single industrial dispute. Speaking at the opening of the 31st Nigerian Economic Summit in Abuja, Shettima emphasized the need for dialogue and national interest, describing the ongoing tension as avoidable. “It’s not about holding the whole nation to ransom because of a minor labour dispute. Nigeria is greater than PENGASSAN, and greater than each and every one of us,” he said. The vice…

Nigeria is embarking on one of its most ambitious infrastructure projects yet — a $2 billion “super grid” designed to end the country’s decades-long struggle with erratic electricity and restore investor confidence in its industrial sector. Minister of Power, Adebayo Adelabu, announced the plan during the Nigerian Economic Summit in Abuja, describing it as a “strategic reset” for Africa’s most populous nation. The new grid, he said, will connect the eastern and western power corridors — the heart of Nigeria’s manufacturing and commercial activity — with advanced transmission technology capable of delivering steady electricity nationwide. From Chronic Blackouts to Grid…

In a decisive step toward transforming Nigeria’s tech ecosystem, the National Information Technology Development Agency (NITDA) has appointed four key industry figures to the National Council for Digital Innovation and Entrepreneurship (NCDIE) — marking a new phase in implementing the Nigeria Startup Act of 2022. The new council members — Iyinoluwa Aboyeji, Victoria Manya, Charles Uchenna Emembolu, and Abba Ibrahim Gamawa — were elected through the Startup Consultative Forum to represent the interests of founders and innovators nationwide. Their two-year mandate is to strengthen collaboration between the government and the startup community, ensuring that policy decisions reflect on-the-ground realities. According…

Nigeria’s equipment leasing industry is moving toward greater structure and transparency as regulators push for full compliance with lease registration requirements — a step industry leaders say could unlock new financing opportunities and accelerate national development. The Equipment Leasing Association of Nigeria (ELAN) has urged all leasing companies and lessors to register their agreements with the Equipment Leasing Registration Authority (ELRA), describing the move as a critical reform for improving investor confidence, data accuracy, and access to capital. During a capacity-building programme themed “Equipment Leasing: From Principle to Practice,” ELAN’s Executive Secretary, Andrew Emonuwa, said the registration drive is essential…

Nigeria is reshaping the future of renewable energy in Africa through a groundbreaking $3.2 million solar mini-grid project that could redefine how developing nations power their economies. Once viewed as too risky by traditional utilities, solar mini-grids are now gaining traction — thanks to the Global Energy Alliance for People and Planet (GEAPP), which provided seed funding and technical expertise to absorb early investment risks. The pilot, led by solar developer Husk Power with backing from the United Capital Infrastructure Fund, has proven so successful that it’s reshaping regulatory and financial priorities. Nigerian regulators now mandate utilities to include renewable…

Nigeria is emerging as a driving force in global entrepreneurship, with over ₦1.3 trillion now channelled into small businesses through the Bank of Industry. The massive investment underscores the nation’s bold strategy to transform its economic landscape by empowering millions of micro, small, and medium enterprises (MSMEs) that anchor its workforce. At the 2025 Global Entrepreneurship Congress in Indianapolis, Minister of State for Industry, Senator John Enoh, reaffirmed Nigeria’s ambition to lead an entrepreneurship-driven industrial revolution. Speaking to global innovation leaders, Enoh emphasized that the country’s future lies in its 39 million small businesses—responsible for more than 80% of all…

Nigeria’s pursuit of excellence and global competitiveness is set to take center stage once again as industry leaders, innovators, and policymakers prepare for the 2025 National Quality Conference & Awards, scheduled to hold on October 31 at the NECA House Auditorium, Alausa, Ikeja, Lagos. Themed “Champions of Quality: Shaping Nigeria’s Future,” this year’s edition underscores the critical role of quality assurance and standards in driving sustainable growth across Nigeria’s industrial and service sectors. Organised by Allied Integrated Promotion in collaboration with African Trade Magazine, the Chartered Quality Institute (CQI), and the International Organization for Standardization (ISO), the event seeks to…

A new wave of bold leadership and business innovation is set to sweep across Africa as the Centre for Values Re-orientation and Attitudinal Change (CFAC) announces the fourth edition of its flagship Human Capital Re-orientation Conference, scheduled to hold on Friday, 2025, at the Los Angeles Event Centre, Abuja. This year’s theme, “Unleashing Audacity: Building Bold Businesses in Africa,” captures the organisation’s renewed mission to inspire courage, discipline, and visionary thinking among African entrepreneurs and leaders. In a statement signed by CFAC President, Dr. Raphael Ayua, the 2025 edition is expected to serve as a catalyst for a continental mindset…

In an era where technology is redrawing the map of global competition, Lagos State Deputy Governor, Dr. Kadiri Obafemi Hamzat, has called on Nigerian entrepreneurs to view Artificial Intelligence (AI) not as a futuristic luxury but as the new foundation for business survival and dominance. Addressing business leaders at the 10th FATE Business Conference themed “AI-Powered Business: Innovate, Automate, Accelerate,” Hamzat said the nations and companies that master AI today will define the global economy for the next generation. He emphasized that the world has entered an “AI-first” phase, where technology drives smarter production, sharper decision-making, and stronger customer engagement…

As Nigeria continues its push toward inclusive growth, the Chinwe-Bode Akinwande (CBA) Foundation is set to ignite a nationwide dialogue on breaking cycles of poverty and social exclusion among widows. The foundation announced plans for its 2025 Turning Point Conference, themed “Empowering Widows in Nigeria: Breaking the Cycle of Poverty and Vulnerability,” scheduled for October 9, 2025, at Eko Hotel and Suites, Lagos. More than just a conference, the event seeks to reposition widowhood empowerment as a core element of Nigeria’s social and economic reform agenda. It will convene leaders from civil society, government, academia, and the private sector to…

Africa’s economic revolution won’t be televised—it will be manufactured.For John Alamu, Group Managing Director of CapitalSage Holdings, the next frontier of African independence is not political, but economic. “Export raw cocoa and you make $8,000 per tonne,” he explains. “Turn it into butter and you earn six times more. Make chocolate, and the value rises up to thirty times.” That principle of value creation over extraction lies at the heart of Johnvents Group, CapitalSage’s agribusiness and manufacturing arm. Through ten integrated factories—including Johnvents Industries and Premium Cocoa Products (Ile-Oluji), one of Nigeria’s oldest cocoa processors—the Group now boasts an annual…