Author: Gift Ifeanyi

Former Nigerian Minister of Education, Obiageli Ezekwesili, has called on the government to prioritize entrepreneurship, industrialization, and infrastructure development as key strategies for sustainable job creation and economic growth. Speaking at the 20th Anniversary Public Lecture of Redeemer’s University in Ede, Osun State, with the theme: “The Reality of Our Time: Harnessing Human Capital, Technology, and Values for a Sustainable Future,” Ezekwesili emphasized the urgent need to reduce barriers to business creation by streamlining registration processes, lowering start-up taxes, and improving access to finance for young entrepreneurs. Unlocking Economic Growth Through Entrepreneurship As a former Vice President of the World…

The newly appointed CEO of EFInA, Foyinsolami Akinjayeju, is stepping into her role with a clear vision: to drive lasting change in Nigeria’s financial ecosystem. Akinjayeju sees this as a pivotal moment to close the financial inclusion gaps that persist despite significant progress in recent years. In a conversation with The Guardian, she emphasized that while access to formal financial services has improved, true financial inclusion must go beyond accessibility—it should empower individuals, families, and entire communities to build financial resilience and create sustainable livelihoods. A Mission Beyond Access EFInA’s work, according to Akinjayeju, extends beyond simply increasing financial access.…

Nigeria is at the forefront of a global transition away from cash, experiencing the steepest decline in cash usage worldwide, according to a new report from Worldpay. Between 2014 and 2024, cash transactions in Nigeria plummeted by 59%, the largest drop among major economies where cash has traditionally dominated. Comparatively, the Philippines recorded a 43% decrease, Indonesia 44%, Mexico 41%, Japan 31%, Germany 24%, and Colombia 22%. The report, which examined 40 global markets accounting for 88% of the world’s GDP, forecasts that cash usage in Nigeria will continue its downward trend, falling to just 32% by 2030 as digital…

Nigeria’s oil and gas sector is embroiled in controversy as petroleum product marketers and depot owners accuse Dangote Refinery of blackmailing the government over the ongoing Naira-for-crude sales deal. The dispute intensifies amid growing uncertainty over the price of Premium Motor Spirit (PMS), commonly known as petrol, as the refinery halts sales in Naira. According to sources, a crucial meeting of the federal government’s technical Sub-Committee on Domestic Sales of Crude Oil and Refined Products, scheduled for Monday, failed to take place. The delay was attributed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) not submitting a vital…

Kwik Becomes Alibaba.com’s First Authorized Channel Partner in Sub-Saharan Africa Exclusive membership deals now available for Nigerian manufacturers to access over 48 million global buyers. Alibaba.com, a leading global B2B e-commerce platform, has partnered with Kwik, Nigeria’s top digital logistics platform, to enhance opportunities for Nigerian exporters. This collaboration marks a significant milestone as Kwik becomes Alibaba.com’s first-ever Authorized Channel Partner in Sub-Saharan Africa. Through this partnership, Kwik will promote Alibaba.com’s platform to Nigerian manufacturers, producers, and exporters, facilitating seamless entry into international markets. In addition, the two companies have introduced special membership rates for Nigerian businesses, offering enhanced access…

Moneda Invest Africa has partnered with meCash to revolutionize Africa’s financial ecosystem by enhancing payment solutions and credit accessibility for small and medium-sized enterprises (SMEs). The strategic alliance was officially unveiled at the Moneda Experience event on March 14, 2025, in Lekki, Lagos, where the groundbreaking “Musa” app was also introduced. A Game-Changing Collaboration The event gathered key industry stakeholders, including: Ejike Egbuagu, Group Chief Executive Officer of Moneda Modupe Diyaolu, Co-founder and CEO of meCash Adebusola Adegbuyi, Co-founder and Chief Technology Officer of meCash Precious Ehihamen, Acting Managing Director of Moneda Technologies Investors, industry experts, and members of the…

Zap, Nigeria’s first non-custodial crypto exchange, is the brainchild of childhood friends Tobiloba Asu-Johnson and Moore Dagogo-Hart. Despite market downturns and regulatory uncertainty, they built a platform centered on financial autonomy, securing early funding and gaining user trust. Now, Zap is poised for global expansion. A Friendship Turned Vision Zap didn’t begin as a business idea—it started as a friendship. Tobi and Moore met at the age of nine and, despite attending different universities, shared a deep passion for tech and finance. Their university years immersed them in cryptocurrency, but unlike most traders who relied on custodial exchanges, they leaned…

Nigeria’s entrepreneurial landscape is thriving, filled with businesses poised to make their mark regionally and globally. However, realizing this vast potential requires navigating a complex environment—one characterized by limited IT infrastructure, operational inefficiencies, and entrenched traditional practices. The key to sustainable growth in Nigeria lies in digital transformation, with cloud-based technologies leading the charge. A Market Ripe for Innovation With a rapidly growing middle class and a digitally savvy population, Nigeria offers an ideal environment for business expansion and innovation. Yet, many enterprises remain reliant on manual processes that hinder efficiency and scalability. To remain competitive and agile, businesses must…

The Central Bank of Nigeria (CBN) is intensifying efforts to empower Nigerian youths—who constitute the majority of the population—through innovative credit facilities and capacity-building programs. Under Governor Olayemi Cardoso’s leadership, the focus has shifted toward financial inclusion and entrepreneurship support, creating new opportunities for young Nigerians to thrive. Addressing Financial Barriers for Youths With over 60% of Nigeria’s population under the age of 25, the country has immense potential for economic expansion. However, many young entrepreneurs face significant hurdles such as limited access to finance, inadequate business training, and restrictive loan conditions imposed by commercial banks. In response, Cardoso’s administration…

The Lagos State Government, through the Office for Disability Affairs (LASODA), has empowered 78 entrepreneurs with disabilities by providing them with seed funding and essential work tools to boost their businesses. This initiative is designed to break economic barriers for Persons with Disabilities (PWDs) in the state, ensuring they achieve financial independence and contribute meaningfully to society. Empowering PWDs Beyond Financial Aid Speaking at the Financing and Upskilling Project for Entrepreneurs with Disabilities, held at the STO Resource Centre, Alausa, Ikeja, the General Manager of LASODA, Mrs. Adenike Oyetunde-Lawal, emphasized that the empowerment program is a major step toward fostering…

From selling snacks on the streets of Lagos, Nigeria, to securing a finance manager role at Amazon in Seattle, Washington, Precious Ezealigo’s journey is a testament to resilience, determination, and the power of generosity. “As a kid, I sold groundnuts and chin chin at school to help my family while repeating grades. Now, I’m about to graduate from the Darden School of Business.” As she prepares to graduate from the University of Virginia’s Darden School of Business in May, Ezealigo reflects on a journey shaped by hardship, perseverance, and a deep commitment to mentorship and leadership. Overcoming Challenges: A Path…

In a time when economic inclusion for women in Nigeria remains a critical issue, the fusion of fashion, entrepreneurship, and digital technology is emerging as a transformative solution. Leading this movement is Oyidiya Ajike-Mbah, the visionary founder of the Garment Factory and Fashion Label IVÓ, and more recently, the IVÓ Fashionpreneur Academy (IFA). Through the Scaling Fashion Project, a youth empowerment initiative in partnership with the Challenge Fund for Youth Employment (CFYE), IFA is revolutionizing the Nigerian fashion industry by equipping young women with the skills and opportunities needed to achieve financial independence. Nigeria’s Fashion Industry: A Billion-Dollar Opportunity Nigeria’s…

At the prestigious Global Business Conclave in London, renowned entrepreneur and humanitarian Amb. (Dr.) StellaRita Awelle Nwachukwu Asogwa was honored with the Global Power Leader Award 2025. This distinguished recognition celebrates her exceptional contributions to global business and her tireless humanitarian efforts, reinforcing her status as a shining example of Nigerian excellence on the world stage. A Well-Deserved Honor The Global Power Leader Award is a prestigious accolade given to individuals who have demonstrated outstanding leadership, innovation, and commitment to societal impact. Dr. Asogwa’s unwavering dedication to empowering communities, promoting entrepreneurship, and driving social change has earned her this recognition.…

“We are equipping our young people with the skills to compete and thrive on the global stage.” – President Tinubu President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to empowering Nigerian youths with world-class skills in digital literacy, technical expertise, entrepreneurship, and the creative industries. Speaking at the official launch of the Nigerian Youth Academy (NiYA) on Monday in Abuja, Tinubu described the initiative as a bold response to unemployment, poverty, and other challenges hindering national progress. Represented by Vice President Kashim Shettima, he emphasized that a nation’s success is defined by how well it prepares its young population…

Retnan Daser, founder of Everyday Money, is among the African entrepreneurs making waves on the global stage. His inspiring journey—from building fintech solutions in Nigeria to securing the French Tech Visa—highlights the challenges and opportunities of expanding a business internationally. Overcoming Setbacks: From the UK to France Speaking at the Open Day session of eMigr8, Daser shared how his initial attempt to secure the UK Innovator Visa was unsuccessful due to poor structuring of his application. “I had the right profile, but I didn’t structure my application effectively,” he admitted. “Looking back, with the right guidance, the process would have…

Leading real estate professionals and policymakers gathered on Friday for the fourth annual Veritasi Realtors Conference, where they explored innovation, investment strategies, and the evolving real estate landscape in Nigeria. The conference featured a distinguished panel, including Dr. Jubril Salaudeen (Business Strategist, Lagos Business School), Bola Raheem (Ministry of Physical Planning & Urban Development), Gbenga Osowe (CEO, Buyletlive), and Tobi Yusuff (Partner, Veritasi Homes and Properties). Together, they discussed the theme: “Navigating the Future of Real Estate: Innovation, Investment & Impact.” Government’s Digital Transformation in Real Estate Addressing the Lagos State government’s efforts to modernize the sector, Bola Raheem highlighted…

TECO Group is set to introduce its latest breakthrough in palm oil processing—the dual-purpose screw press and digester—at the upcoming Agrofood & Plast Printpack Nigeria exhibition. This innovative machine integrates two crucial processes—fruit digestion and oil extraction—into a single, efficient unit. Designed to enhance productivity for small-scale palm oil processors, the machine aims to maximize oil yield, minimize waste, and streamline operations, particularly during peak harvest seasons. “This new machine marks a major advancement in palm oil processing,” stated Funmi Babatunde-Dada, Executive Director of TECO Group. “For 45 years, we’ve developed both semi-automated and fully automated palm oil processing plants…

The Exponential Conference 2025 organized by The Exponential Network, an initiative of The Elevation Church, recently concluded its 9th Nigerian edition at the **Pistis Conference Centre** in Lekki, Lagos. Held from February 24th to 26th, the conference brought together over 5,000 church leaders, ministers, and faith-based professionals** from across Africa and beyond, reaffirming its role as a premier platform for ministry empowerment and leadership transformation.  A Broader Vision: Leadership Beyond the Pulpit Under the theme “Intelligent Fire,” this year’s conference expanded its reach to include business leaders, recognizing the growing intersection between **faith and leadership in various spheres of influence**.…

The Petroleum Technology Association of Nigeria (PETAN), in collaboration with NNPC Ltd. and the Federal Ministry of Petroleum Resources, has officially unveiled the program for the 2025 Offshore Technology Conference (OTC). With the theme “Africa’s Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development,” the event is set to attract top industry leaders to Houston, Texas, USA, for one of the world’s largest gatherings in the energy sector. Event Highlights and Schedule Day 1 – Monday, May 5, 2025 Venue: Nigerian Pavilion, NRG Park, Houston, TX Formal opening by Sen. Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil).…

Nigeria’s export sector faces significant challenges, with high interest rates on loans and poor infrastructure being major obstacles for entrepreneurs looking to compete in global markets. Financial Barriers to Export Growth According to Mrs. Aminat Animashaun, Treasurer of the Oyo State Shippers Association, expensive credit facilities make it difficult for businesses to finance production for export. “If the government can reduce high interest rates, the cost of locally made goods will decrease. This will make Nigerian products more competitive in pricing while maintaining or exceeding imported goods in quality,” she said in an interview with the News Agency of Nigeria…