Author: Gift Ifeanyi

 Renaissance Energy, a Nigerian oil firm and the new owner of Shell’s former onshore operations, has suspended output from a segment of the Trans Niger Pipeline (TNP) after an operational mishap led to a crude oil spill in the B-Dere community of Ogoniland, Rivers State. The affected line feeds into the TNP—one of Nigeria’s most vital crude transport routes, channeling oil from inland fields to the Bonny export terminal. The pipeline has a daily capacity of approximately 450,000 barrels, serving as a major conduit for Bonny Light crude, one of Nigeria’s premium export grades. The spill, which occurred on May…

Senator and former Ogun State governor, Gbenga Daniel, has shed light on the harsh realities confronting local businesses in Nigeria. Speaking at an interactive session with students to mark the 35th anniversary of his company, Kresta Laurel Limited, Daniel explained that most indigenous firms do not fail due to lack of ambition—but because they are crushed under the weight of systemic obstacles and insufficient government support. “Nigerian entrepreneurs are practically left to fend for themselves,” Daniel lamented. “We generate our own electricity, provide water and security, and then face relentless taxation from authorities who assume that a tidy office means…

 Nigerian smartphone users have reason to get excited, as POCO, the bold sub-brand under Xiaomi Corporation, is reportedly preparing to launch two highly anticipated smartphones in the country. With the upcoming releases of the POCO C71 and the POCO X7 Pro, POCO is set to make waves in both the entry-level and premium segments of the market. These two models are expected to arrive in rapid succession, offering consumers a compelling mix of affordability and performance. The strategy is simple: provide exactly what users need, without the unnecessary extras. What Makes POCO Different? POCO emerged as an independent, youth-oriented brand…

The British government has commended Nigeria’s evolving economic landscape, describing the country as increasingly attractive for investment and trade opportunities. This was revealed by the British High Commissioner to Nigeria, Richard Montgomery, during a press briefing held in Abuja at the UK-Nigeria Economic Growth Conference, themed “Driving Sustainable Trade and Investment.” Montgomery emphasized that recent economic reforms implemented under President Bola Tinubu’s administration have played a key role in enhancing Nigeria’s investment profile. “Nigeria is becoming a more viable destination for global investors,” Montgomery stated. “We’re seeing a more stable naira, stronger foreign exchange reserves, and an improved business climate—all…

In a major effort to improve tourism and business travel between Nigeria and Turkey, key travel associations from both nations have agreed to work together in urging their respective governments to ease current visa restrictions. The meeting, held in Istanbul, brought together representatives from the National Association of Nigeria Travel Agencies (NANTA) and the Association of Turkish Travel Agencies (TURSAB)—marking their first formal collaboration. The gathering was facilitated by Turkish Airlines, the official partner airline for the upcoming NANTA anniversary event. According to a joint statement from NANTA, both sides stressed that current visa policies are stifling tourism and economic…

Headlining the high-profile gathering are the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN); Chief Justice of Nigeria, Kudirat Kekere-Ekun; and former Minister of Communications and Digital Economy, Prof. Isa Ali Pantami. Other notable figures expected to address the conference include Kwara State Governor AbdulRahman AbdulRazaq, Prof. AbdulMajeed Alaro, Prof. Yusuf Olaolu Ali (SAN), and AbdulAzeez Oladosu of the University of Ibadan. Set to run from Friday through Sunday, the three-day conference is themed “Artificial Intelligence, Law and Religion in Nigeria,” and will welcome over 1,200 Muslim legal professionals from across the country. In a press briefing…

Unlocking the full potential of Africa’s liquefied natural gas (LNG) sector will require a coordinated push involving risk-ready capital, strategic collaborations, and a strong focus on building local expertise. These were key takeaways from a recent panel at the Invest in African Energy (IAE) Forum in Paris. During a session focused on maximizing returns from African gas, Julius Rone, Managing Director of UTM Offshore, emphasized that global demand for LNG remains high, but the main challenge is funding. “The market for LNG is strong and growing year after year,” said Rone. “What we need now are investors who are ready…

Blanche Aigle Communications, a top-tier African public relations agency known for its innovation and award-winning campaigns, is gearing up to catalyze media investment in Nigeria through its upcoming 2025 Media Roundtable Summit—a premier platform for thought leadership and industry transformation. Set for May 20, 2025, in Ikoyi, Lagos, this year’s summit is themed “Africa’s Media Renaissance: Building a Thriving Industry at the Intersection of Storytelling, Business, and Technology.” It aims to unite key players across the media value chain to explore pathways for sustainable growth and long-term investment in Africa’s evolving media space. In a press statement, Nene Bejide, Lead…

Nigeria is strategically aligning with the Nordic innovation ecosystem to spark a new wave of growth for its startup sector, with goals of unlocking capital, expanding market reach, and fostering cross-border knowledge sharing. At the heart of this initiative is Lagos Slush’D 2025, a dynamic startup event modeled after the renowned Nordic innovation platform. The event is designed to spotlight Nigeria’s rapidly evolving entrepreneurial landscape, showcasing the tenacity, creativity, and ambition that define Nigerian startup founders. The conference also serves as a bridge between Nigeria and the innovation powerhouses of the Nordic region—Finland, Sweden, Norway, Denmark, and Iceland. These countries…

Young professionals and seasoned entrepreneurs gathered to explore innovative strategies for building resilient and profitable enterprises at the EDGE 2025 Conference, hosted by Junior Chamber International (JCI) Lekki Royale. The event—Entrepreneurship Development and Growth Excellence (EDGE)—took place in a hybrid format, kicking off with a virtual session on May 9, 2025, followed by an in-person gathering on May 10. More than 700 people joined online, while over 400 participants were present at the physical venue. Themed “Building Resilient & Profitable Businesses: From Startup to Scale,” the two-day summit featured five power-packed sessions centered on leadership, financial intelligence, marketing innovation, and…

The first quarter of 2025 may well be remembered as a comeback season for Nigeria’s top consumer goods players. After a turbulent 2024 marked by volatile forex rates and soaring interest expenses, five major companies—BUA Foods, Nestlé, NASCON, Cadbury, and Dangote Sugar—have returned with renewed vigor. This resurgence largely stems from improved macroeconomic conditions, including a more stable naira and easing inflation. Collectively, these firms showed better profitability and sharply reduced losses. But beyond the headline turnaround, investors face the critical question: which company offers the best value now? While all five companies showed signs of recovery, the strength, sustainability,…

The Nigerian Presidency has revealed that the country attracted more than $8 billion in investments dedicated to deepwater and gas projects over the past year. This milestone was announced by Olu Verheijen, Special Adviser on Energy to President Bola Tinubu, during her speech at the 2025 Africa CEO Forum held in Abidjan, Côte d’Ivoire. Verheijen credited this surge in investment to key government reforms, including enhanced fiscal policies, streamlined approval procedures, clearer local content regulations, and power sector improvements that have made gas-to-power ventures more commercially viable. “The Presidency confirms that Nigeria has attracted investments exceeding $8 billion (approximately ₦12.8…

Isa Hassan Shallangwa, General Manager of Sales and Marketing at Ajinomoto Foods Nigeria Ltd, has urged government authorities to intensify efforts in combating the circulation of adulterated monosodium glutamate (MSG) products in the Nigerian market. In an exclusive interview with DAVID AGBA, Shallangwa emphasized the need for stricter regulatory enforcement to protect consumers and ensure fair competition among legitimate producers. What is your perspective on government’s role amid the rising presence of fake MSG products? “The widespread distribution of adulterated MSG presents serious health risks to the public and damages the reputation of authentic brands like ours. It’s clear that…

In the face of persistent inflation and a turbulent economy, small business owners in Nigeria are navigating some of the toughest conditions in recent memory. But for Oshorinde Olabimpe Shekinat, founder and CEO of Spin Laundry Lounge, resilience and creativity have become the foundation of her entrepreneurial journey. A graduate of Ekiti State University with a degree in Business Education (Marketing), Olabimpe has carved out a niche in Lagos’ bustling service sector. Her company, Spin Laundry Lounge, offers comprehensive laundry care—from washing and drying to folding and delivery—tailored to meet the needs of busy urban customers. “Laundry is an essential…

From the heart of Enugu, Kingsley Adonu Ifeanyi has emerged as a driving force behind key advancements in Nigeria’s telecommunications industry. As a visionary entrepreneur and the founder of S.Mobile Group, Adonu has played a significant role in strengthening digital infrastructure and expanding connectivity, particularly in marginalized and rural communities. Since launching his professional journey in 2004, Adonu has guided S.Mobile Group to become a dynamic player in the telecommunications space, focused on making mobile and internet access more affordable and reliable for Nigerians. Under his leadership, the company has championed several initiatives aimed at improving service quality and expanding…

Barth Nnaji, former Minister of Power and Chairman of Geometric Power Limited, has emphasized that Nigeria needs to generate and deliver at least 100,000 megawatts (MW) of electricity to meet the nation’s industrial and population-driven energy demands. In a recent appearance on Arise TV’s Morning Show, Nnaji described Nigeria’s current electricity generation and transmission capabilities as critically inadequate. He warned that the country cannot achieve lasting economic growth or reliable energy access for its over 200 million people without a dramatic scale-up in power infrastructure. “At present, our transmission systems are incapable of distributing the volume of electricity the country…

The Nigerian naira continued its upward trend on Wednesday at the official foreign exchange (FX) market, following the Central Bank of Nigeria’s (CBN) recent introduction of the Non-Resident Diaspora Bank Verification Number (NRBVN). According to data released by the CBN, the naira appreciated by ₦3.33 against the dollar, settling at ₦1,596.70 at the close of trading. This marks a 0.2% improvement compared to Tuesday’s rate of ₦1,600.03 at the Nigerian Foreign Exchange Market (NFEM). However, the story was different in the informal FX market—commonly called the black market—where the naira dipped slightly by ₦2, trading at ₦1,627 to the dollar,…

Nigeria has entered into discussions with Brazilian energy giant Petrobras over the potential exploration of deep offshore oil blocks, marking a possible return of the company to the Nigerian oil sector after more than a decade of absence. Foreign Affairs Minister Yusuf Tuggar disclosed that Petrobras, though no longer operational in Nigeria, has shown renewed interest in re-entering the country’s oil and gas industry. “They’re eager to come back and have expressed specific interest in deepwater frontier assets,” Tuggar stated, according to a release from the Vice President’s office. Petrobras, Brazil’s state-owned energy corporation, first began operations in Nigeria in…

The Nigerian Capital Development Fund (NCDF) has introduced a $1 billion investment programme aimed at driving inclusive economic progress and promoting sustainable development throughout Nigeria. This large-scale initiative, which has already commenced, is being executed through a mix of public-private collaborations, blended financing models, and diaspora-driven investments. The programme is carefully aligned with Nigeria’s national development goals and the United Nations Sustainable Development Goals (SDGs). According to NCDF, the funding will be directed toward six critical sectors: renewable energy, affordable housing, healthcare, agriculture, financial inclusion, and support for startups and innovation. Executive Chairman of NCDF, Hareter Babatunde Oralusi, emphasized that…

Oando PLC, a major player in Nigeria’s oil sector, has completed repair work on one of its pipelines located in Bayelsa State, following multiple oil spills attributed to acts of sabotage in recent weeks. In a statement issued on Tuesday, the company confirmed that emergency protocols were swiftly activated after each incident. This included shutting down the affected oil wells, suspending crude transport, and initiating measures to contain the spills. Investigations into the spills were carried out collaboratively with regulatory agencies and members of the local community. Oando, which recently took over operations from the former Nigerian Agip Oil Company—a…