Author: Gift Ifeanyi

Los Angeles, California — For twin brothers Joel and Jeffrey Ezugwu, moving from Nigeria to Los Angeles at age 14 came with a cultural gap they didn’t expect — the absence of a central platform for African television content. “Telemundo serves the Latino community, BET serves Black Americans, but for Africans, there’s nothing,” says Jeff. Now 30, the brothers are determined to change that. This summer, they launched Zugu TV, a streaming platform delivering live broadcasts from Nigeria, including sports, entertainment, and cultural programming. Their goal: to reconnect Nigerians abroad with the culture they grew up in — and introduce…

Abuja, Nigeria — Africa’s future is not just defined by its potential — it is being propelled by momentum. With one of the world’s youngest populations, vast natural resources, rising digital connectivity, and an innovation culture built on resilience, the continent is positioned to become a major driver of global growth. But for this growth to be truly transformative, it must be inclusive. That means activating one of Africa’s most underutilised yet powerful resources: the African diaspora. Beyond Sending Money: A Call for Transformational Investment Across the globe, millions of Africans abroad contribute to their home countries through remittances, entrepreneurship,…

In a bold step to deepen Nigeria’s self-reliance in medicine production, May & Baker Nigeria Plc is setting up a new manufacturing facility in Anambra State — part of an aggressive expansion plan that underscores the company’s growing influence in West Africa’s pharmaceutical market. The move, announced by Managing Director and CEO Patrick Ajah during the Association of Community Pharmacists of Nigeria’s 2025 Annual Conference in Awka, will complement the company’s existing depot operations in Onitsha. Ajah, speaking alongside Anambra State Governor Chukwuma Soludo at the company’s exhibition booth, said the new plant reinforces May & Baker’s legacy as Nigeria’s…

The National Union of Nigerian Welders (NUNIWE) has raised urgent concerns over what it describes as the growing displacement of local professionals by foreign welders, warning that the trend threatens livelihoods and deepens the nation’s unemployment crisis. Speaking at the union’s certification registration ceremony in Lagos, NUNIWE National President Comrade Peter Iniobong said the influx of workers from China, India, Indonesia, and Turkey has tilted the balance of employment against qualified Nigerians, in violation of the country’s labour quota laws. “We are not opposed to expatriates working in Nigeria — they are our global colleagues,” Iniobong said. “But we must…

Two major initiatives this month have placed entrepreneurship and skills development in the spotlight, with thought leaders and institutions challenging Nigerian professionals to embrace innovation, adaptability, and strategic thinking in a fast-changing economy. In Lagos, political economist Professor Pat Utomi described entrepreneurs as “visionaries who solve problems and fill societal gaps,” urging professionals — especially journalists — to recognise their own entrepreneurial potential. He spoke during the Seplat Energy Annual Media Training Programme, a two-day event that brought together select media practitioners from across the country for intensive sessions on business acumen, media innovation, and personal leadership. The programme, which…

The Nigerian Economic Summit Group (NESG) has underscored industrialisation as a cornerstone for driving Nigeria’s economic growth and long-term prosperity, ahead of the 31st Nigerian Economic Summit scheduled for October 6–7, 2025, in Abuja. With the subtheme “Driving Industrialisation-led Growth as a Critical Strategy for Economic Transformation”, the summit will address how Nigeria can transition from a consumption-driven economy to one rooted in production and value creation. According to Ayanyinka Ayanlowo, Acting Head of Strategic Communication and Advocacy at NESG, Nigeria’s economic potential has been hindered by deindustrialisation, overreliance on imports, and minimal value addition in key sectors. The group…

In a decisive push to energize small businesses and create a new generation of market-ready entrepreneurs, the Niger State Government has equipped 3,000 young people with essential business and financial management skills. The training, held in Minna, forms part of a broader collaboration between the state government, MasterCard Foundation, and the Enterprise Development Centre under the Transforming Nigerian Youth (TNY) initiative, first introduced in March. Special Adviser to the Governor on the Social Investment Programme, Hajiya Hauwa Bako, explained that the goal is to transform 10,000 youths — with women making up a large share — through a blend of…

The recently enacted Nigeria Tax Act 2025 has introduced sweeping reforms aimed at closing loopholes in tax evasion, with provisions that empower authorities to recover outstanding taxes from businesses even after liquidation. A key provision, Section 24, mandates that companies which cease operations must settle any outstanding tax liabilities within six months of their closure. More significantly, the law extends the tax net to cover incomes or payments received after cessation — including post-liquidation receipts — requiring disclosure to tax authorities within one month of receipt. According to the Act: “Where a trade, business, profession or vocation permanently ceases to…

The 2025 edition of the Paradigm Shift Conference, set for September 27 at the Muson Centre, Onikan, Lagos, will gather entrepreneurs, professionals, and growth-minded individuals to explore how self-discovery can unlock lasting wealth and success. Convener Dr. Stephen Enike-Matthew described the event as a transformative platform designed to challenge traditional ideas of wealth creation and replace them with values-driven, sustainable approaches. This year’s theme, “Building Organic Wealth Through Self-Discovery,” underscores the role of personal growth and self-awareness as the foundation for authentic success. “Self-awareness is not just a personal journey—it’s an economic one,” Dr. Enike-Matthew said. “When people understand their…

Nigerian music superstar David Adeleke, popularly known as Davido, has officially married his longtime partner and mother of his children, Chioma Rowland, in a grand white wedding held in Miami, Florida, USA. The glamorous ceremony took place at the prestigious Mana Wynwood Convention Center and attracted an exclusive guest list of Nigerian celebrities, top business moguls, and political heavyweights. Davido made a show-stopping entrance in a custom white Lamborghini Revuelto, which he revealed was a personal gift to himself. Chioma arrived in equal grandeur, chauffeured in a pristine white Rolls Royce, her face veiled as she walked gracefully down the…

African on-demand delivery giant, Chowdeck, has raised $9 million in Series A funding to fast-track its expansion in Nigeria and Ghana while launching a quick commerce strategy designed to make grocery and local market deliveries faster than ever. The equity round was led by Novastar Ventures, with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and other backers bringing deep sector expertise, global networks, and operational insight to help the startup scale sustainably. The funding will fuel Chowdeck’s push into more cities, shorten delivery times through dark stores and hyperlocal logistics, and expand its footprint in…

In one of the most dramatic wealth surges in Nigeria’s corporate history, billionaire industrialist Abdul Samad Rabiu has grown his net worth from $5.1 billion in January 2025 to $7.3 billion by August 9, 2025 — a staggering $2.2 billion gain in just seven months. The leap is fueled by the stellar performance of BUA Cement and BUA Foods on the Nigerian Exchange (NGX), where Rabiu maintains near-total control — owning 98% and 95% of the companies respectively. Both firms have delivered robust financial results in 2025, with BUA Foods posting ₦912.5 billion in revenue and ₦260 billion in profits…

Nigeria recorded a significant boost in its non-oil exports during the first half of 2025, earning $3.225 billion — a 19.6% jump compared to the same period in 2024, according to the Nigerian Export Promotion Council (NEPC). The country’s non-oil export volume also grew from 3.83 million metric tons in the first half of last year to 4.04 million metric tons this year. NEPC’s Executive Director, Nonye Ayeni, attributed the growth to rising global demand, favorable trade agreements, and targeted government initiatives aimed at improving export readiness. Cocoa beans, urea/fertilizer, and cashew nuts led the export chart, with cocoa alone…

The GURUFIED Brand Global’s founder, is inspiring a new wave of business leaders with her candid lessons from the frontlines of entrepreneurship. Speaking from years of hard-earned experience, she underscores the power of resilience, empathy, and visionary thinking, paired with a willingness to adapt in a constantly changing market. Her journey, marked by hurdles such as securing funding, maintaining quality standards, and staying ahead in competitive markets, has become a roadmap for perseverance and innovation. She urges emerging entrepreneurs to take calculated risks, safeguard their integrity, and hold fast to their long-term vision — values she believes are the foundation…

British American Tobacco (BAT) Nigeria has called on policymakers to take decisive action in implementing forward-looking reforms that can unlock the nation’s manufacturing export potential and position it as a competitive force in the evolving global trade arena. Speaking at the inaugural Manufacturers Association of Nigeria (MAN) High-Level Think Tank Session in Ibadan, BAT West and Central Africa’s Corporate and Regulatory Affairs Director, Odiri Erewa-Meggison, warned that without agile, growth-driven policies, Nigeria risks falling behind in a rapidly shifting economic landscape. Her remarks were delivered by Ruth Owojaiye, BAT WCA’s Head of Regulatory Engagements. Erewa-Meggison stressed that global trade is…

Nigeria is losing tens of billions of dollars each year to illicit financial flows (IFFs), with the bulk of the losses coming from commercial activities disguised as legitimate transactions, according to Professor Bolaji Owasanoye, SAN, Coordinating Director of the Proceeds of Crime Management and Illicit Financial Flows Coordination Directorate at the Federal Inland Revenue Service (FIRS). Speaking after the National Conference on Illicit Financial Flows, held in Abuja on 22–23 July 2025, Owasanoye — a former chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) — warned that IFFs are robbing Nigeria of vital tax revenue needed…

The stage is set for an electrifying showdown in the 2025 Nigeria Premier Basketball League (NPBL) as defending champions Rivers Hoopers BC gear up to defend their title against fifteen fierce contenders. According to a joint communiqué issued by League Chairman Babatunde Ogunade and Nigeria Basketball Federation (NBBF) Secretary General Amina O. Amanchi, the new season will tip off on 28 August and run through 16 November 2025, with team registration slated for early August. This year’s NPBL will unfold in four phases — Group Stage, Inter-Group Stage, Playoffs, and the Final Four. The 16 teams have been split into…

Zonkwa — In a move aimed at boosting grassroots enterprise, Senator Sunday Marshall Katung has provided business equipment to 500 youth and women entrepreneurs across the eight local government areas of Kaduna South Senatorial District. The distribution, held in Zonkwa, saw beneficiaries receive refrigerators, generators, and industrial sewing machines — tools designed to strengthen small-scale businesses and create ripple effects of economic growth. The initiative was implemented in collaboration with the National Centre for Agricultural Mechanisation (NCAM) and coordinated by Simon Arabo, Director-General of the defunct SMK 2023 campaign organisation, who represented the senator at the event. Arabo explained that…

After two years of currency turbulence that drained profits and drove up finance costs, Nigeria’s biggest listed companies are showing not just a return to profitability, but something far more important — a surge in cash generation that could reshape their growth trajectories. In the first half of 2025, the stabilising naira has not only erased the crippling foreign exchange losses of recent years but delivered foreign exchange gains for some, pushing bottom lines into the black. Yet, analysts say the real measure of resilience is not in reported profits, but in the ability to produce hard cash from daily…

Nigeria is bracing for a flurry of economic and policy developments in August, from the rollout of refined fuel nationwide to sweeping financial reforms and a push for renewable energy in public institutions. The Dangote Petroleum Refinery is set to begin distributing diesel and premium motor spirit (PMS) across the country from August 15. To support the rollout, the company has acquired 4,000 compressed natural gas (CNG)-powered tankers, backed by a network of CNG stations and over 100 mobile CNG tankers, in a bid to ensure cleaner, more efficient last-mile delivery. In the financial sector, President Bola Tinubu has signed…