Author: Gift Ifeanyi

As Nigeria marks its 65th Independence Anniversary, President Bola Tinubu has placed consumer credit at the heart of his administration’s economic strategy, underscoring how affordable loans are beginning to transform household spending power and entrepreneurial activity. Under the National Consumer Credit Corporation (Credicorp), more than 153,000 Nigerians have so far accessed ₦30 billion in affordable loans, financing purchases ranging from vehicles and solar energy systems to home upgrades and digital devices. The initiative reflects a deliberate shift toward expanding access to finance in ways that support everyday Nigerians, not just large businesses. “Credicorp… has granted 153,000 Nigerians affordable loans for…

Nigeria’s entrepreneurial landscape is set to receive a major boost as entries open for the Nigeria 25under25 Youth Entrepreneurship and Leadership Awards, a platform designed to equip the next generation of innovators with the tools to thrive. More than just an award, the initiative serves as a comprehensive growth accelerator—offering funding, a year-long incubation program, tailored leadership coaching, and direct access to a network of mentors, advisors, and potential investors. The goal is clear: to transform ambitious ideas from young Nigerians into thriving, sustainable enterprises. A Multi-Sector Opportunity The program casts a wide net across industries, ranging from agriculture, fintech,…

Every year, Nigeria adds nearly 600,000 university and polytechnic graduates to its workforce. But with only 450,000 formal jobs created across the economy, hundreds of thousands of educated young people are left stranded. What often goes unspoken is the hidden cost: an economy weakened by wasted potential and a society strained by frustration. An Economy Paying the Wrong Bill Graduate underemployment — with 20% of degree holders stuck in jobs that require no degree — is not just an individual setback. It is an economic loss. Families spend millions on tuition, yet the return on that investment is minimal when…

Nigeria’s 65 years of independence have been marked by both triumphs and trials, especially in balancing rapid population growth with the need for sustainable infrastructure, health care, and energy. While government policy has driven much of this progress, partnerships with the private sector have played an equally critical role. Chevron Nigeria offers one example of how long-term private investment has become interwoven with the nation’s development story. Operating in Nigeria for more than six decades, the company has steadily aligned its projects with pressing national needs — from reliable energy supply to health interventions and educational advancement. Energy as a…

Remittances have become one of Africa’s most reliable economic lifelines. In just over a decade, the value of funds sent home by Africans abroad has surged by nearly 80%, reaching $95 billion last year — almost rivaling foreign direct investment. For many African households, these flows are not supplementary; they are essential for education, health care, and daily living. This growing reliance has opened the door to a fierce contest among fintech companies seeking to simplify how money moves between African communities abroad and their families at home. From Lagos to London to New York, startups are experimenting with digital…

Lagos, Nigeria – October 2, 2025:  In a vibrant Independence Day celebration, Sony unveiled  the expansion of its ULT POWER SOUND series, designed to make you feel like you have dived into the front row of the arena. The newly launched party speakers includes the ULT Tower 9, ULT Field 5, ULT Field 3 and ULTMIC1, held at an exclusive launch event hosted at the Sheraton Lagos Hotel, Ikeja. Designed for personal, home, and on-the-go listening, the lineup combines festival-level bass, portability, and smart connectivity to match Nigeria’s energetic lifestyle. The launch drew influencers, top media houses, lifestyle and tech…

Coal mining, once written off as a relic of Nigeria’s industrial past, is staging an unexpected comeback. The sector rebounded from a steep 22% contraction in the year’s first quarter to a staggering 57.5% growth in the second quarter, making it one of the fastest-growing segments of the economy. This turnaround is not happening in isolation. It reflects a broader shift in Nigeria’s economic priorities, where solid minerals are taking center stage after decades of reliance on oil. The government has rolled out reforms designed to add value to raw minerals before export and to secure mining operations against illegal…

While Aliko Dangote captures global headlines with mega-industrial projects, his half-brother Sayyu Dantata has quietly built one of Nigeria’s most powerful energy distribution networks. Through MRS Africa Holdings, Dantata controls more than 800 fuel retail outlets across West Africa, positioning himself as the single largest downstream beneficiary of the $20 billion Dangote Petroleum Refinery. What began in 1995 as a modest haulage company moving petroleum products has evolved into a regional powerhouse. Dantata’s breakthrough came in 2008 when MRS acquired Chevron’s downstream assets in West Africa, giving the company operations in Nigeria, Cameroon, Benin, Togo, and Côte d’Ivoire. Today, MRS…

As competition intensifies in Nigeria’s aviation sector, local carriers are evaluating new options for expanding their fleets. A potential game-changer under consideration is China’s C919 jet, currently being reviewed for certification by Nigeria’s Civil Aviation Authority. For Nigerian operators, the appeal of COMAC’s narrow-body aircraft lies not only in its competitive positioning against Airbus and Boeing but also in the support packages being discussed. COMAC has proposed maintenance and training programs, along with flexible leasing arrangements, to lower barriers for carriers seeking fleet growth. Abdullahi Ahmed, CEO of NG Eagle, expressed interest in exploring the Chinese aircraft. With his airline…

The Dangote Petroleum Refinery has resumed petrol sales in naira following a temporary suspension, after the Nigerian government’s Naira-for-Crude Technical Committee intervened to resolve the standoff between the plant and regulators. In a memo to marketers, the refinery confirmed that Premium Motor Spirit (PMS) can once again be purchased in local currency, with options for self-collection or delivery across designated depots nationwide. The reversal follows Friday’s announcement that naira sales would be halted due to the exhaustion of the refinery’s crude-for-naira allocation. The earlier suspension had sparked concern among industry stakeholders, as marketers were advised to request refunds for pending…

Cavista Holdings, in collaboration with the Corporate Council on Africa (CCA) and the Nigeria Governors Forum (NGF), reinforced Nigeria’s status as an emerging global investment hub during a high-level engagement in New York on September 23, 2025. The gathering, held at the Rainbow Room, Rockefeller Plaza, coincided with the 80th Session of the United Nations General Assembly (UNGA) and convened investors, financial institutions, and policymakers from across Africa and the United States. Positioning Nigeria as Today’s Growth Market Niyi John Olajide, Chairman of Cavista Holdings and CCA, underscored Nigeria’s immediate relevance for investors. “Nigeria is not only a future market.…

Nigeria faces a paradox that cannot be ignored: while millions of households struggle daily with hunger, nearly half of the nation’s food output is lost to waste and spoilage. An estimated 40% of total production—valued in billions of naira—is discarded annually, with post-harvest losses claiming up to 50% of agricultural produce before reaching consumers. This dual crisis of waste and hunger represents not only an economic setback but also a profound social and environmental challenge. Beyond Scarcity: A Coordination Gap The problem is not a lack of food, but a failure of coordination. Farmers in Kaduna watch their harvests perish…

Nigeria’s economy is flashing signs of recovery: inflation is easing, the naira has strengthened, and foreign reserves are at their highest in six years. Yet, for millions of Nigerians, daily living costs remain punishingly high, exposing the widening gap between encouraging macroeconomic indicators and the lived realities of households. Economic Bright Spots at the Policy Level The National Bureau of Statistics (NBS) reports that inflation, which peaked at 34.8% in December 2024, slowed to 20.12% by August 2025 after adjustments to the inflation basket. Food inflation, a critical driver, also eased slightly to 21.87%. At the same time, the naira…

Nigeria is positioning itself as a continental leader in digital innovation by deepening global collaborations to strengthen its startup ecosystem. A flagship example is the partnership between the National Information Technology Development Agency (NITDA) and the Japan International Cooperation Agency (JICA), which is accelerating the growth of early-stage companies through the iHatch incubation programme. The initiative provides mentorship, training, and seed funding to promising entrepreneurs. Among its early beneficiaries is AGROVESTO, an agritech venture digitising supply chains for smallholder farmers — an industry critical to Nigeria’s food security and rural development. Kashifu Inuwa, Director-General of NITDA, noted that these collaborations…

Nigeria used the platform of the 2025 USAfrica Business Week (UBW2025), held alongside the 80th United Nations General Assembly in New York, to spotlight its free trade zones as a catalyst for industrial growth and global partnerships. At a side session themed “Ease of Doing Business in Nigeria: A New Era of Economic Opportunities,” the Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Dr. Olufemi Ogunyemi, urged American investors to leverage the country’s expanding network of free zones as practical entry points into Africa’s largest economy. “Free zones are designed as practical business enclaves that provide industrial upgrading…

Chukwuebuka Michael Odo, founder of eGP and creator of Oversabi AI, has called on Nigerian youths to focus on building technology solutions that create value, impact communities, and expand opportunities for underserved groups. Odo, a Nigerian techpreneur based in the United Kingdom, was recently honoured with the Innovative Leadership Award by the Raise the Boy Child Initiative. The organisation recognised him for empowering boys in disadvantaged communities with digital skills and for developing tools that address critical social gaps. In its citation, the NGO commended Odo’s commitment to practical innovation, highlighting Oversabi AI — a culturally tailored learning platform —…

Nigeria has launched a flagship reform designed to transform its ports into globally competitive trade hubs. The Nigeria Customs Service (NCS) unveiled its One-Stop-Shop (OSS) initiative in Abuja, with a bold promise to slash cargo clearance times from an average of 21 days to just 48 hours. Comptroller-General of Customs, Adewale Adeniyi, described the OSS as a turning point in aligning Nigeria’s trade operations with international benchmarks while advancing the government’s Ease of Doing Business agenda. For decades, bottlenecks at Nigerian ports have inflated costs for traders, discouraged investment, and forced cargo traffic to neighbouring countries. Under the OSS, all…

Nigeria’s private sector is cautiously optimistic as recent government reforms show early signs of stabilizing the economy. Abdul Samad Rabiu, chairman of BUA Group, highlighted these improvements following a meeting with President Bola Tinubu in Abuja, noting that businesses are beginning to feel relief from soaring costs and volatile exchange rates. One of the most visible outcomes has been in food prices. Duty waivers on key imports, particularly wheat, have enabled manufacturers to cut production expenses, with flour, pasta and semolina seeing modest declines. Economists say while food inflation remains high, the pace of increase is slowing — a shift…

Sheriff Deputies, a household name in manned security solutions, is proud to announce a landmark partnership with Multiforte Resources, one of Nigeria’s leading providers of electronic security solutions. This collaboration represents a major milestone in our commitment to delivering comprehensive security services that combine the very best in manpower security and advanced electronic technology. By joining forces, Sheriff Deputies and Multiforte will provide clients with a holistic security experience, ensuring maximum protection for homes, businesses, and institutions across Nigeria. The announcement comes at a significant moment, as Sheriff Deputies prepares to celebrate its Silver Jubilee Anniversary. For 25 years, we…

Alert Microfinance Bank has taken a bold step in redefining the future of financial services with the launch of its Business Banking Platform, a technology-driven solution designed to transform how businesses manage money, payments, and operations. Unlike traditional banking channels, the new platform integrates digital advisory tools, real-time dashboards, multi-user functionality, and seamless payments into a single ecosystem. Entrepreneurs can not only open business accounts but also access POS terminals, NQR-powered transfers, and personalised guidance from dedicated relationship managers—all within one platform. Managing Director Raji Saheed explained that the goal is to provide businesses with more than financial transactions: “We…