Author: Gift Ifeanyi

The Federal Government has introduced the Nigeria Virtual Privacy Academy, a new digital platform aimed at enhancing data protection and privacy practices within both the public and private sectors. The announcement was made by Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, at the 8th annual conference of the Network of African Data Protection Authorities (NADPA), which commenced in Abuja on Tuesday. Strengthening Data Protection Capabilities During his address, Dr. Tijani emphasized that the academy is an integral part of Nigeria’s broader strategy to leverage the digital economy. It aims to equip key stakeholders with the necessary tools…

As the global energy industry converges in Houston for the 2025 Offshore Technology Conference (OTC), Nigeria’s Solewant Group is making waves with cutting-edge innovations that promise to redefine offshore operations and industrial infrastructure across Africa and beyond. From May 5 to 8, energy experts and executives from around the world are gathering in Texas—and Solewant is proudly representing Africa’s rising influence on the global stage. Under the leadership of Group Managing Director Solomon Ewanehi, the company is unveiling groundbreaking technologies and strategic capabilities that span five key subsidiaries. These include advanced pipeline systems, industrial coatings, integrated water technology, and technical…

The Director-General of the National Board for Technology Incubation (NBTI), Engr. Kazeem Kolawole Raji, has underscored the indispensable role of strategic management in achieving growth and success across various sectors—including business, governance, security, and even everyday life. Speaking during a courtesy visit by the leadership of the Institute of Strategic Management of Nigeria (Chartered) (ISMNC) to the NBTI headquarters in Abuja, Engr. Raji emphasized that strategy has become the foundation of effective leadership in the modern world. “Strategy is no longer optional,” he noted. “It is essential not just in boardrooms, but in universities, homes, and politics. I earned a…

Peter Obi, the 2023 Labour Party presidential candidate, has urged the Nigerian government to make immediate and strategic investments in human development if the country is to reverse its deepening poverty crisis. In a post shared on X (formerly Twitter) on Tuesday, Obi expressed concern over the worsening economic conditions confronting millions of Nigerians. Citing recent data from the World Bank, he noted that poverty levels are expected to rise steadily through 2027 unless meaningful interventions are made. Refocusing National Priorities Obi emphasized that genuine progress will only come when the country begins to prioritize essential services like education, healthcare,…

A new alliance between Nigerian software engineer Ayorinde Akindemowo Olayiwola and US-based cybersecurity specialist Raphael Nyonyoh is setting a new standard for small business security in West Africa. Their joint effort centers on the recently launched Cybersecurity Threat Intelligence Platform (CTIP)—a tech-driven solution designed to empower small and medium-sized enterprises (SMEs) with robust cyber defense tools. Currently in its pilot rollout, CTIP is already gaining momentum among SMEs in Nigeria and Ghana. The platform leverages artificial intelligence to monitor digital environments, identify vulnerabilities, and prioritize threats—all in real-time. Its automation capabilities simplify the response process, easing the pressure on limited…

Across Nigeria, a wave of entrepreneurial learning is transforming secondary education. More schools are embedding student-led businesses into their curricula—giving learners the opportunity to build real ventures, earn revenue, and develop vital life skills. These programs not only promote teamwork and financial literacy but also prepare students for future business success. Here are five leading schools where students don’t just learn about business—they live it. 1. Loyola Jesuit College, Abuja At Loyola Jesuit, entrepreneurship is built into every term. Students are grouped into teams and tasked with identifying market gaps, developing business plans, and launching real products or services—ranging from…

A new addition to Houston’s culinary map is serving up bold Nigerian flavors with a modern twist. Suya Outpost, the brainchild of tech executive-turned-restaurateur Wayne Iluyomade, has opened in Humble, Texas, with a fresh take on West African cuisine presented in a fast-casual format. Tucked into a busy strip center alongside diverse businesses—from a sushi bar to a cigar lounge—Suya Outpost is bringing cultural flavor to an otherwise conventional location. The restaurant’s mission is simple: deliver rich Nigerian taste with the speed and style of popular chains like Chipotle. Located at 9502 North Sam Houston Parkway East, Suya Outpost joins…

Across the globe, one truth rings louder with each passing day: entrepreneurship is the fuel powering progress. Whether in Silicon Valley or Shanghai, it is the entrepreneurial spark that ignites innovation, drives economic growth, and transforms nations. And now, all eyes should turn toward the next frontier of this revolution — Africa. At the heart of this awakening is Nigeria, a country bursting with untapped energy, talent, and ambition. As a speaker at the Legatum Center for Development and Entrepreneurship at MIT, I had the opportunity to speak on the role of innovation in emerging markets. I walked away certain…

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the creation of 90,160 jobs for unemployed youths and the empowerment of over 116,000 entrepreneurs across the country in the first quarter of 2025. This impressive achievement is attributed to targeted empowerment programs and strategic partnerships aimed at strengthening Nigeria’s Micro, Small, and Medium Enterprises (MSMEs) sector. SMEDAN’s Q1 performance report, released in Abuja on Tuesday, highlighted the agency’s continuous commitment to fostering growth in the entrepreneurship ecosystem. Empowering the Entrepreneurial Landscape SMEDAN’s efforts were bolstered by strong collaborations with both private sector partners and members of the…

Social media influencer and business strategist, Amaechi Loretta Omijeh, has emphasized the critical role of supporting young entrepreneurs in Nigeria, particularly small businesses, as the cornerstone for the country’s growth and productivity. Omijeh, who holds a degree in Economics from Lagos State University and is currently pursuing Global Business Management at the Ontario College of Business and Technology, believes that the dominance of well-established brands often overshadows the potential of emerging businesses, especially those led by young Nigerians. A Call to Empower Small Businesses In a recent statement, Omijeh, who was honored as the Business Blogger of the Year at…

At the 4th CEO Summit 2025, themed “Positioning for Sustainability in Unpredictable Times,” held recently in Lagos, Dr. Victor Afolabi, a renowned entrepreneur and IT expert, stressed that integrating Artificial Intelligence (AI) and automation is crucial for boosting efficiency, quality, and economic growth in both government and business sectors. According to Afolabi, adopting these technologies is not merely an option—it is a necessity for staying competitive in today’s increasingly digital world. As Founder and CEO of GDM Group, Afolabi explained that many Nigerian businesses and government agencies are still struggling with inefficiencies and outdated practices that drive up operational costs…

At the recent BusinessDay Future of Payment Conference, PalmPay, a leading digital banking platform, reaffirmed its commitment to shaping the future of payments in Nigeria by pushing for the widespread adoption of contactless payment terminals. Themed “Fintech Evolution: Gateway to Payments,” the conference highlighted the critical role fintech innovation plays in transforming the payment landscape. During the event, Frank Aigbogun, Publisher of BusinessDay, emphasized that the future of fintech should focus on not just speed, safety, and simplicity but also trust, inclusion, and accessibility to ensure that the benefits of innovation reach all corners of society. PalmPay’s Role in the…

Despite persistent structural challenges and policy hurdles that many perceive as discouraging, Nigeria’s economy has shown notable endurance. In the midst of these constraints, the organized private sector remains active and forward-thinking, pushing innovation to stimulate investment and economic advancement. In a recent interview, Dele Kelvin Oye, President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), sat down with Onikepo Braithwaite and Jude Igbanoi to discuss NACCIMA’s core mission, its commitment to driving private sector development, economic concerns Nigeria is currently facing, and practical paths forward. Background and Legal Career You’re trained as a lawyer—are…

Delta40, a dynamic venture studio and VC fund committed to backing transformative businesses across Africa, has officially launched its Nigeria hub in Lagos. The milestone event, held on April 30, 2025, signals a powerful new phase in Delta40’s mission to nurture ventures that redefine sectors such as energy, mobility, agriculture, food systems, fintech, and AI. The vibrant Lagos unveiling was hosted in partnership with Nithio—an AI-powered clean energy investment platform and one of Delta40’s strategic allies. Key figures from Nigeria’s business and policy spheres attended the launch, including Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole MFR, and…

Over 50 ambitious entrepreneurs from across Nigeria have been shortlisted to compete for the coveted N50 million grand prize in the 10th season of the reality TV show The Next Titan. Kicking off its nationwide auditions under the bold theme “The Unconventional”, the entrepreneurial talent hunt toured Abuja, Port Harcourt, Enugu, and Lagos in search of Nigeria’s most innovative and driven business minds. Contestants pitched their ventures while showcasing charisma, grit, and leadership—essential qualities for surviving the competition’s 10-week challenge. From the hundreds who auditioned last month, just over 50 were selected to advance to the prestigious boot camp. There,…

Over the last two decades, Nigeria’s federal budgets have painted a troubling picture of escalating expenses, sluggish revenue growth, and a deepening dependence on loans. From Olusegun Obasanjo’s final years in office to Bola Tinubu’s administration in 2025, one pattern remains consistent—spending continues to rise while revenue struggles to keep pace. 2007: Obasanjo’s Era of Borrowing Amid Prosperity In 2007, President Olusegun Obasanjo unveiled an $18.3 billion national budget, supported by projected revenues of $13.3 billion and a $5 billion borrowing plan—about 27% of the total budget. This came at a time when Nigeria was still enjoying the fiscal breathing…

President Bola Tinubu has approved a bold new procurement initiative—the Renewed Hope Nigeria‑First policy—designed to prioritize Nigerian-made products, services, and expertise in all government spending. Announced after Monday’s Federal Executive Council (FEC) meeting in Abuja, the policy will soon be backed by an Executive Order, according to the Minister of Information and National Orientation, Mohammed Idris. “This directive puts Nigeria at the heart of every kobo spent by government,” Idris stated, echoing the nationalist tone of former U.S. President Donald Trump’s “America First” approach. Policy Objectives: Spend Nigerian, Grow Nigerian The core goal of the Nigeria‑First policy is to stimulate…

Nigeria’s path to stronger economic growth doesn’t necessarily lie in raising taxes—but in making the tax system smarter, more transparent, and more rewarding. A major opportunity lies in reimagining how tax incentives and refunds are handled, creating a fairer system that encourages voluntary participation. Despite being Africa’s largest economy, Nigeria’s tax-to-GDP ratio is only 10.6 percent. That means out of every ₦100 the country earns, less than ₦11 comes from taxes. By comparison, South Africa collects 28 percent and Kenya 16 percent. These figures underscore Nigeria’s untapped potential in revenue generation—especially outside the oil sector. Encouragingly, the government aims to…

Under Governor Olayemi Cardoso’s leadership, the Central Bank of Nigeria (CBN) is delivering early wins through bold financial reforms that are reshaping the nation’s economic trajectory. Despite initial hurdles, key policy changes are starting to ease inflation, stabilize the naira, and renew global investor confidence. Cardoso emphasized that while Nigeria’s macroeconomic reforms have been tough, they’re already paying off—particularly in exchange rate stability, reduced inflation, improved sovereign ratings, and an uptick in foreign capital inflows. Reversing Economic Drift Through Firm Monetary Policy Following a period of erratic fiscal trends and monetary looseness, the CBN adopted stricter monetary policies. With inflation…

Nigeria’s path to economic stability hinges on its ability to reform and improve the way taxes are managed—not by imposing higher burdens, but by making the tax system more rewarding, transparent, and accessible. A key strategy to achieve this is the strategic use of tax incentives and ensuring that tax refunds are processed efficiently and fairly. Currently, Nigeria’s tax revenue is relatively low compared to its peers. With a tax-to-GDP ratio of only 10.6%, Nigeria collects less than one-tenth of its earnings through taxes. By comparison, South Africa’s tax-to-GDP ratio is 28%, and Kenya’s stands at 16%. These statistics point…