Author: Gift Ifeanyi

In a move set to reshape Africa’s energy landscape, the Dangote Petroleum Refinery and Petrochemicals FZE has partnered with U.S.-based Honeywell to supply advanced equipment and technical solutions for the refinery’s next expansion phase. The agreement, announced through a Honeywell statement on November 25, 2025, will support upgrades that allow the refinery to process a broader slate of crude oils and significantly boost its output by 2028. Under the new development plan, Dangote intends to scale its refining capability from 650,000 barrels per day to 1.4 million barrels per day within three years. If achieved, this upgrade would position the…

In a strategic announcement made in Mumbai on Wednesday, Aliko Dangote revealed that his refinery has entered a new phase of expansion through a freshly signed agreement with Engineers India Ltd (EIL). The partnership will steer efforts to boost total refining capacity to 1.4 million barrels per day within the next three years. This development comes shortly after the company finalised another deal with U.S.-based Honeywell, which will supply advanced process technologies and automation systems for the refinery’s evolving operations. EIL, a top-tier engineering consultancy under India’s Ministry of Petroleum & Natural Gas, previously oversaw project management for the refinery’s…

Federal labour officials have shut down a battery recycling facility in the Ogijo axis of Ogun State after an independent investigation revealed dangerous levels of lead exposure and hazardous working conditions. The inquiry, carried out by PREMIUM TIMES and The Examination in partnership with multiple African newsrooms, exposed environmental contamination affecting both employees and the surrounding community near the Lagos–Ogun border. The Ministry of Labour and Employment confirmed the enforcement action in a statement, noting that the operation was supervised by the Minister of State, Nkeiruka Onyejeocha. She stressed that the government would not allow any employer to subject workers…

Ecobank has been honored as the AABLA 2025 Company of the Year, a recognition that underscores its position as one of Africa’s most influential financial institutions. With operations spanning more than 30 countries, the bank maintains the most extensive banking footprint on the continent, enabling it to reach millions of individuals and businesses. Through its digital-first strategy and continuous product innovation, Ecobank has broadened access to financial services—particularly for entrepreneurs, women-led enterprises, and young people seeking opportunities in emerging markets. These efforts have contributed significantly to greater financial inclusion across diverse communities. In a conversation with Chanel Retief, Head of…

Across the nation’s public arena stands a familiar figure: individuals whose fortunes rise not from production, innovation, or intellectual capital, but from their proximity to government authority. In Nigeria, political access often yields returns far faster than any factory line or technological breakthrough, creating an environment where ambition gravitates toward power rather than enterprise. From the earliest years of the Republic, governance gradually transformed into an economy of its own. Influence became a tradable asset, and public roles morphed into investment vehicles. Appointment into a ministry, a board, or a strategic office often guarantees financial gain long before a single…

YOD UNESCO has unveiled Project D-100, a large-scale digital development initiative designed to improve the online presence of schools and small businesses while equipping young Africans with hands-on technology skills. The programme seeks to close longstanding digital gaps by providing free web solutions, brand support, and digital mentorship to underserved institutions. The first rollout will support 100 schools and SMEs, with preparations underway to extend assistance to 200 additional beneficiaries in the next phase. The long-term blueprint envisions empowering 5,000 institutions across Africa, positioning Project D-100 as one of the continent’s most ambitious community-led digital transformation campaigns. The initiative was…

Nigeria’s capital market has taken a major step toward modernisation with the adoption of a T+2 settlement cycle, shortening the time required to complete securities transactions from three business days to two. The new structure is expected to significantly enhance market efficiency, strengthen risk management, and position the country more competitively on the global stage. Under the T+2 framework, the exchange of funds and securities is finalised two business days after a trade is executed. Market professionals view this shift as a critical upgrade that will help reduce delays, limit counterparty exposure, and bring settlement practices closer to international standards…

FirstBank has reinforced its position as a major driver of small-business growth in Nigeria, announcing that it provided more than ₦200 billion in financing to Micro, Small, and Medium Enterprises (MSMEs) in 2024. The disclosure was made by the bank’s Head of SME Banking, Abiodun Famuyiwa, during the 2025 National MSMEs Conference hosted by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Lagos. Famuyiwa explained that the bank’s significant lending push was motivated by the urgent need to close Nigeria’s persistent MSME funding gap.“Access to finance remains one of the biggest obstacles facing small businesses. They need…

A new wave of support has emerged for Nigeria’s Micro, Small, and Medium Enterprises as Fast Credit Finance Company Limited, in collaboration with the Enterprise Development Centre (EDC) of Lagos Business School, launches a ₦2 billion single-digit lending programme aimed at boosting small-business expansion and productivity. With an estimated 39 million MSMEs responsible for over 80 percent of national employment, access to affordable credit remains one of the sector’s most persistent obstacles. Many entrepreneurs struggle under commercial loan rates that often exceed 22–30%, constraining growth and discouraging long-term investment. The new Fast Credit–EDC facility seeks to provide a practical alternative…

Lagos, Nigeria — As part of activities marking the 2025 International Day of Persons with Disabilities, Project Enable Africa and Jobberman Nigeria have announced the maiden edition of AbilityX 1.0, a national disability inclusion conference scheduled to hold on Tuesday, December 2, 2025, at the Sheraton Hotel, Ikeja, Lagos. The event, themed “The Future of Disability Inclusion in Nigeria,” is positioned as a landmark initiative aimed at shifting disability advocacy in the country from dialogue to measurable action. ‘A Bold Shift From Advocacy to Action’ Executive Director of Project Enable Africa, Olalekan Owonikoko, described the conference as a transformative platform…

Nigerian businesses are coming under mounting pressure as commercial lending rates hover around 30 per cent, forcing many firms—especially Small and Medium Enterprises (SMEs)—to scale back operations, delay investments and battle rising loan repayment burdens. Bank officials and financial analysts warn that the current credit conditions are eroding business confidence and undermining Nigeria’s fragile economic recovery. Across the banking sector, commercial loan rates now sit between the high 20s and low 30s, depending on sector risk, collateral quality and customer profile. A senior credit officer at a Tier-2 bank confirmed lending rates of 32–36 per cent, noting that only Federal…

Lagos, Nigeria — A new wave of teenage entrepreneurs is reshaping Nigeria’s youth economy in 2025, marking a significant shift from the traditional dominance of family inheritance in the country’s wealth landscape. According to recent observations by business analysts and tech incubators, young Nigerians between the ages of 14 and 19 are building companies, securing international partnerships, and generating revenue figures once thought impossible for their age group. Tech-Savvy Teens Leading the Charge One of the most notable trends is the surge of teenagers launching technology start-ups. From mobile payment platforms to logistics solutions and e-learning tools, Nigeria’s Gen-Z innovators…

The Nigerian Society of Engineers (NSE) has entered into a strategic agreement with Lonadek Nigeria Limited to expand professional training, mentorship, and entrepreneurial capacity for engineers across the country. The collaboration is designed to strengthen the talent pipeline, enhance industry-relevant competence, and position young professionals to play a greater role in national development. The agreement was formalised at the NSE headquarters in Lagos, where senior leaders from both organisations underscored the importance of preparing engineers for emerging opportunities across key sectors such as energy, power, infrastructure, manufacturing, mining, oil and gas, and renewables. With more than 60,000 engineers distributed across…

International Breweries PLC (IBPLC) has reiterated its long-term commitment to youth empowerment in Nigeria as it hosted the 2025 edition of its flagship entrepreneurship programme, Kickstart, in Lagos. The company noted that its parent organisation, AB InBev, has invested $380 million (₦513 billion) to strengthen local operations and broaden economic opportunities across Nigeria’s business ecosystem—an investment it described as clear evidence of sustained confidence in the country. At the event, IBPLC’s leadership highlighted Kickstart’s evolution into one of the nation’s most impactful youth-focused enterprise development programmes. Targeted at Nigerians aged 18 to 35, the initiative provides structured business training, seed…

Dublin, Nov. 24, 2025 (GLOBE NEWSWIRE) – ResearchAndMarkets.com has released a detailed industry report, “Construction Stone Market in Nigeria: Business Report 2025”, offering an extensive analysis of the country’s construction stone sector. The report provides a thorough examination of Nigeria’s construction stone industry, covering production, consumption, trade, and market dynamics. It includes insights into the nation’s business environment, economic landscape, and key industry players, equipping stakeholders with the knowledge needed to navigate this growing sector. Report Highlights: Country Overview: An introduction to Nigeria, including general information, economic indicators, and an assessment of the business climate. Market Analysis: In-depth evaluation of…

The Foursquare Church Without Bounds has announced the 2025 edition of its flagship youth and entrepreneurship initiative, TOUCH, aimed at equipping young Nigerians with leadership skills, business insights, and tools for national development. The program is scheduled for December 6, 2025, in Lagos. Speaking at a press briefing, Faith Oluwagbesan, convener of TOUCH 2025, highlighted that the initiative is designed to inspire young professionals and entrepreneurs to actively contribute to Nigeria’s growth. “TOUCH is an annual platform that fosters career development, entrepreneurial excellence, and nation-building. Its goal is to encourage young people to invest in the country’s future rather than…

The Mary Ojulari Foundation, a non-profit organisation dedicated to fostering sustainable development and community-driven growth in Nigeria, has disbursed N50 million in grants to eight exceptional young entrepreneurs from its second Vanguard Fellowship Cohort. The recipients recently completed the Foundation’s intensive two-week Ignite Bootcamp in Lagos. The grant awards were announced by Mary Ojulari, Founder and President of the Foundation, during the Vanguard Fellowship Ignite Bootcamp Awards & Networking Cocktail Night held on November 21, 2025, at the J. Randle Centre for Yoruba Culture and History, Onikan, Lagos. Each awardee received N6.2 million. The winners are Safaya Ikechuckwu, Oluwakemi Olaniyan,…

The Institute of Certified Business Consultants (ICBC) has emphasized that continuous mentorship and professional guidance are critical for Nigerian entrepreneurs navigating economic volatility and rapid technological change. Addressing attendees at its 2025 Induction Ceremony in Lagos, ICBC Registrar Dr. Emmanuella Chinonye Nwankwo underscored that sustainable businesses are often built on consistent coaching and informed decision-making, particularly as artificial intelligence reshapes global markets. She highlighted ICBC’s commitment to supporting entrepreneurs through advisory services, structured mentorship, and its monthly Lunch and Learn consulting series. Dr. Nwankwo also noted that ICBC extends its training beyond members, equipping artisans, small-scale business owners, and NYSC…

The Innovation Support Network (ISN) has entered a new leadership phase as Hanson Johnson assumes the role of Board Chairman with a pledge to significantly deepen investment and coordination across Nigeria’s fast-growing startup ecosystem. Johnson — a recognised leader in the technology community and founder of Start Innovation Hub — outlined a strategic direction focused on creating clear and efficient pathways that link startups to financing, markets, and transformative partnerships. He noted that ISN’s extensive national footprint provides a unique platform for identifying founders who are prepared for scale and international competitiveness. A central part of his agenda is strengthening…

Lontor Hi-Tech Development Company has introduced a wide-reaching business empowerment and mobility initiative designed to accelerate smart energy adoption and expand distribution capacity across Nigeria. The announcement was made during the company’s annual business conference in Lagos, held under the theme “Growing Stronger Together.” At the center of the initiative is the Wuling Bus Partnership Program, a large-scale logistics and sales mobility scheme supported by eight strategic partners, each contributing ₦150 million. The program is structured to enhance regional coverage, improve product visibility, and create stronger activation channels for Lontor’s expanding portfolio of energy and smart-living solutions. During the event,…