Author: Gift Ifeanyi

TORONTO — Nigeria is shifting its mining strategy from isolated domestic growth to becoming the “anchor” for a continent-wide mineral corridor. Speaking at the Prospectors and Developers Association of Canada (PDAC) Conference in Toronto, the Minister of Solid Minerals Development, Dele Alake, declared that the future of African mining lies in cross-border infrastructure and local value addition. Represented by the Director-General of the Mining Cadastre Office, Obadiah Nkom, the Minister addressed global powerhouses—including representatives from France, Saudi Arabia, and Australia—emphasizing that Nigeria is no longer interested in being a mere exporter of raw dirt. From Frameworks to Functionality Alake issued…

LAGOS — Nigeria’s leading industrialists have once again asserted their dominance as Forbes released its 2026 Africa Billionaires list. The report highlights a staggering recovery and expansion of wealth across the continent, with Nigeria’s “Big Four” leading the charge amidst a 21% surge in collective billionaire wealth. The 2026 ranking features 23 African billionaires with a combined net worth of $126.7 billion, up from $106.4 billion in 2025. This growth was fueled by record corporate profits, rebounding equity markets, and the strategic expansion of industrial empires. The Nigerian “Big Four”: Breaking Down the Numbers 1. Aliko Dangote: Africa’s Indomitable Number…

LAGOS — As Nigeria’s property market enters a more volatile and competitive phase, Veritasi Homes Plc has issued a clarion call for real estate professionals to abandon traditional methods in favor of digital-first, data-driven strategies. The firm’s recent advocacy follows the successful conclusion of the 5th Veritasi Realtors Conference (VRC), held in collaboration with the Lagos Business School (LBS) from February 25 to 27, 2026. The three-day intensive summit served as a high-level incubator for realtors, investors, and property marketers aiming to master the “New Economy” of real estate. Beyond Bricks and Mortar: Investing in Human Capital The 2026 curriculum…

LAGOS — For centuries, the world’s most enduring brands—from the 180-year-old French house of Hermès to India’s global giant Tata Group—have shared a singular secret to longevity: they stopped acting like “families” and started acting like “institutions.” As Nigeria prepares for the Third International Family Business Conference (IFBC 2026) on March 26, research from the Lagos Business School (LBS) paints a sobering picture. Fewer than 30% of family businesses survive into the second generation, and a mere 10% make it to the third. The culprit is rarely just the economy; more often, it is a “governance gap” that leads to…

ABUJA — President Bola Ahmed Tinubu held a high-level strategic meeting on Monday with the Minister of State for Finance-designate, Taiwo Oyedele, at the State House. The audience signals a transition from policy design to aggressive implementation as the administration moves to modernize Nigeria’s “leaky” revenue framework and eliminate the long-standing burden of multiple taxation. Oyedele, the former Chairman of the Presidential Committee on Fiscal Policy and Tax Reform, is widely regarded as the primary architect of the administration’s plan to simplify the tax code and boost non-oil revenue. From Proposals to Power: The Oyedele Mandate As he prepares to…

LAGOS — From the sprawling open-air markets of Kano to the frantic roadside stalls of Lagos, a small blue-and-white device has become the most powerful tool in the hands of the Nigerian trader. Moniepoint Inc., founded in 2015 by Tosin Eniolorunda and Felix Ike, has transitioned from a backend software startup into the primary financial nervous system for Nigeria’s Small and Medium Enterprises (SMEs). As of 2026, the company stands as a definitive “Unicorn,” proving that in Africa’s largest economy, the real “Big Tech” opportunity lies not in luxury apps, but in the grit of everyday commerce. Solving the “Credit…

ABUJA — The National Youth Service Corps (NYSC) is set for a significant expansion in 2026, with the Federal Government officially approving an additional 50,000 slots for the upcoming service year. Brigadier General Olakunle Nafiu, the NYSC Director-General, announced the development during the unveiling of a modernized clinic at the scheme’s National Directorate Headquarters. The event also served as a reflection on his first year at the helm of the organization. Strategic Growth and Budgetary Support To accommodate the rising number of graduates across the country, the NYSC has integrated these new slots into its 2026 fiscal planning. General Nafiu…

ABUJA — In a stirring tribute to mark International Women’s Day, President Bola Ahmed Tinubu has lauded the “indomitable spirit” of Nigerian women, describing them as the foundational strength holding the fabric of the nation together. In a personal message released Sunday, the President celebrated the diverse contributions of women across all sectors—from the rural farmsteads and bustling markets to high-level corporate boardrooms and the halls of political power. Architects of National Progress President Tinubu highlighted that Nigeria’s historical and democratic milestones bear the “indelible imprint” of women who challenged the status quo. He noted that the country’s trajectory is…

ABUJA — In a major push to overhaul Nigeria’s struggling energy sector, President Bola Ahmed Tinubu has officially inaugurated an 11-member committee to oversee the establishment of the Grid Asset Management Company Limited (GAMCO). The new entity is designed to be a “quick-fix” solution to the country’s chronic transmission failures and the problem of “stranded power”—electricity that is generated but cannot reach consumers due to a weak national grid. A Revolutionary Step in Power Reform Chief of Staff Femi Gbajabiamila, who inaugurated the committee on the President’s behalf, characterized GAMCO as a transformative initiative aimed at optimizing the country’s entire…

ABUJA — Fuel prices across Nigeria’s capital have surged once again, with major filling stations in Abuja crossing the N1,100 per litre mark this Sunday. This latest spike follows a rapid sequence of adjustments triggered by escalating geopolitical tensions in the Middle East. Investigations across the city revealed that prominent outlets, including NNPC and Conoil stations along the Airport Road, have revised their rates to between N1,080 and N1,082 per litre, up from the N960 recorded just a week ago. The “Hormuz Factor”: Why Prices are Climbing The primary driver behind this volatility is the intensifying conflict involving the U.S.,…

LAGOS — As fuel prices continue to squeeze Nigerian households and businesses, a quiet industrial shift is taking place in the outskirts of Lagos. SAGLEV, a homegrown electric vehicle (EV) assembler, has emerged as a key player in the nation’s transition away from fossil fuels through a strategic partnership with Chinese automotive giant Dongfeng. The collaboration is being hailed as a “low-hanging fruit” for Nigeria’s industrial sector, leveraging affordable Chinese technology to build a sustainable local transport ecosystem. Scaling Local Assembly in Imota At the heart of this movement is SAGLEV’s 5,000-square-metre assembly facility in Imota, Ikorodu. Unlike traditional importers,…

LAGOS — Nigeria’s organized retail sector is facing its most significant crisis in decades following the total shutdown of Shoprite, the South African-born giant that defined the country’s modern shopping experience for 20 years. The collapse has sent shockwaves through the national “mall economy,” with analysts estimating a staggering N1.4 trillion loss in value. The closure of the anchor tenant has left a trail of “collateral damage,” affecting thousands of employees, local suppliers, and hundreds of small businesses that thrived in the retail giant’s shadow. From Market Leader to Empty Shelves Once a symbol of middle-class aspiration, Shoprite’s decline became…

LAGOS — Renowned political economist and ADC chieftain, Professor Pat Utomi, has issued a scathing assessment of Nigeria’s current trajectory, describing the nation’s state as a “complete mess” fueled by systemic corruption and a breakdown in public trust. In a recent dialogue with Vanguard, Utomi drew a sharp, uncomfortable contrast between Nigeria’s stagnation and Egypt’s rapid industrialization, arguing that the difference lies purely in the “seriousness” of leadership. The Siemens Tale: A Study in Sabotage Utomi utilized the contrasting execution of power deals with the German firm Siemens to illustrate how corruption hinders Nigerian infrastructure. The Egyptian Model: Egypt leveraged…

HELSINKI — In a region known for its minimalist “Scandi” aesthetic, Nigerian fashion entrepreneur Omolara Odediran is painting the Finnish landscape with the vibrant hues of African heritage. Through her brainchild, the Afrikan Wedding Fair Finland (AWFF), Odediran has successfully carved out a high-value niche for African creatives in one of Europe’s most discerning markets. What began as a personal tribute to her late sister has evolved into a powerful tool for cultural diplomacy, officially recognized and adopted by the Finnish government as a staple of its annual cultural calendar. The Journey: Business Intelligence Meets Heritage Odediran’s path to the…

ABUJA — The Federal Government has announced a fresh N250 billion intervention facility aimed at transforming Nigeria’s agricultural landscape. Agriculture Minister Abubakar Kyari revealed that the funding is strategically designed to drive mechanization, enhance food production, and provide a financial safety net for the nation’s farmers. The initiative marks a significant step in the administration’s “Renewed Hope” agenda, focusing on wealth creation and the modernization of the primary sector. A Multi-Agency Approach to Risk and Finance To ensure the effective deployment of these funds, the government is integrating three core institutions to provide a comprehensive support system: Nigerian Agricultural Insurance…

After three years of economic “gyration,” Nigeria is finally seeing a glimmer of stability. But as Ola Olabinjo, CEO of Skystone Finance, points out, “stability” is just the foundation—the real challenge is turning those numbers into better lives for everyday Nigerians. 1. The “Big Pivot”: Reforms and Their Price Tag Nigeria’s macroeconomic shift has been nothing short of dramatic. Inflation has cooled to 15.15%, and the Naira, which once spiraled toward ₦1,900/$, has strengthened to below ₦1,400. Olabinjo attributes this to “bold” but painful reforms: The Fuel Subsidy Removal: A necessary but heavy blow to the cost of living. FX…

Is a collection of powerful allies enough to secure a presidency? According to activist Aisha Yesufu, the answer is a resounding “no.” In a recent appearance on Channels Television, Yesufu delivered a blunt forecast for the next general election: President Bola Tinubu has already lost his grip on 2027. Her argument isn’t based on policy papers, but on a fundamental shift in where true power lies. The “Governor Trap” Yesufu suggests that the administration is currently hyper-focused on courting state governors to create a unified front. However, she warns that this is a classic political mirage. History Repeating: She pointed…

It isn’t every day that a sitting president stops to salute a predecessor, but for the 89th birthday of Chief Olusegun Obasanjo, President Bola Tinubu did exactly that. In a message that read more like a history lesson than a simple greeting, Tinubu painted a picture of a man whose life is inextricably woven into the fabric of Nigeria itself. The Man of Two Republics The tribute, released via presidential spokesperson Bayo Onanuga, highlighted a career that sounds like a movie script. Tinubu reminded the nation that Obasanjo didn’t just lead; he pioneered: The Rare Handover: In 1979, as a…

If you noticed a sudden spike at the gas station this week, you aren’t alone. The Dangote Refinery has officially raised its wholesale (ex-depot) price by N100—about a 12% increase—bringing the rate from N774 to N874 per litre. While the change feels sudden, the cause is thousands of miles away. The Middle East Connection The refinery pointed directly to the escalating conflict between the U.S., Israel, and Iran. This isn’t just political noise; it has physically choked the world’s oil supply: The Hormuz Deadlock: The Strait of Hormuz, which carries half of the world’s crude oil, has seen shipments grind…

In the bustling tech scene of Port Harcourt, a new player is proving that high-end Artificial Intelligence isn’t just for Silicon Valley. Founded in 2024 by Nnaemeka Ugwumba, Laskenta Technologie Limited has emerged with a clear mission: to dismantle the barriers keeping local businesses in the “analog” age. The “All-In-One” Digital Architect Laskenta doesn’t just sell software; it builds digital foundations. Recognizing that many small and medium enterprises (SMEs) struggle with fragmented tech, the start-up uses a comprehensive “design-to-maintenance” model. Their toolkit includes: Predictive Analytics: Helping businesses see trends before they happen. Smart Automation: Replacing repetitive tasks with intelligent chatbots.…