Author: Gift Ifeanyi

For many Nigerians, retirement is supposed to signal a time of rest and enjoyment. Yet, the country’s stubbornly high inflation is making that dream harder to achieve, leaving retirees and workers-in-waiting with a sobering reality: pension savings alone are no longer enough. Inflation eats into retirement savings Even with the protection of the Pension Reform Act (2014), many workers discover that their Retirement Savings Accounts (RSAs) fail to provide adequate income. A retiree with N20 million saved by age 65 may receive between N150,000 and N180,000 monthly — barely N5,000 to N6,000 a day. The bigger challenge is that most…

Nigeria has unveiled a bold industrial roadmap aimed at more than doubling the sector’s share of national output over the next decade, projecting a rise from the current 10% contribution to 25% of GDP by 2035. The plan was highlighted at the Gastech Exhibition and Conference in Milan, where Minister of State for Industry, Senator John Owan, described the framework as a defining milestone of President Bola Tinubu’s administration. From resource-driven to production-driven economy Owan told participants that the policy signals Nigeria’s transition away from a resource-dependent economy toward a competitive, innovation-led industrial hub. “This is the first time in…

Nigeria’s energy wealth has long powered exports, but policymakers and experts are warning that the country’s greatest opportunity lies in using those resources to fuel small businesses, jobs, and local industries. At the heart of this shift is the Electricity Act 2023, which hands states authority to regulate their own electricity markets. Analysts say this reform could finally enable solutions tailored to the needs of small and medium-sized enterprises (SMEs)—the backbone of the economy—many of which still spend more on diesel than on business expansion. “Think of a food processor losing half its produce to spoilage or a market cluster…

Nigeria’s renewable energy ambitions received a major push this week as the United Capital Infrastructure Fund (UCIF) approved a ₦5 billion ($3.3 million) revolving debt package for Husk Power Systems, the global leader in privately operated solar minigrids. The facility, which runs for ten years, gives Husk the flexibility to build, expand, and reinvest in solar projects across the country. Initial investments will target standalone minigrid sites, followed by interconnected systems and dedicated installations for commercial and industrial users. UCIF has set a wider target of enabling at least 100 megawatts of new clean energy capacity by 2030. “Financing is…

In Nigeria’s fast-evolving digital economy, social media is no longer just a tool for sharing photos or entertainment — it is fast emerging as one of the most powerful engines of business growth. Recent data from Statista (2024) shows that digital advertising spend in Nigeria reached $169 million, with social media platforms commanding over 40 percent of that total. For small business owners and student entrepreneurs, the message is clear: the future of commerce is online. Take Aisha, a university student who turned a small passion project into a thriving business by promoting her products on Instagram. Her story mirrors…

The Chartered Institute of Personnel Management of Nigeria (CIPM) has called on entrepreneurs and human resource professionals to prioritise collaboration as a survival strategy in the country’s challenging business climate. At the institute’s Corporate Membership Forum held on Wednesday, CIPM President, Mallam Ahmed Ladan Gobir, said the high mortality rate of small businesses in Nigeria—many of which collapse within their first five years—stems largely from a culture of isolation rather than partnership. “Nigeria has the people, the talent, and the resources to build successful enterprises,” Gobir stated. “But sustainability without collaboration is like cooking jollof rice without pepper—it will be…

Nigeria’s currency extended its winning streak on Wednesday, closing at ₦1,500.91/$ at the official foreign exchange market—its strongest performance in more than six months. The development marks the second day in a row the naira has traded under the symbolic ₦1,500 per dollar threshold. Figures from the Central Bank of Nigeria (CBN) show the naira traded between ₦1,498/$ and ₦1,507/$ during the day, underscoring its renewed momentum. Only weeks earlier, the local unit had opened September at ₦1,526.09/$, before firming to ₦1,506/$ by Monday and holding steady on Tuesday. The last time the naira touched the ₦1,500/$ level was on…

Across Africa, small businesses remain the backbone of economic transformation, yet thousands of aspiring founders struggle to turn their ideas into reality. Limited funding, inadequate support systems, and the burden of running multiple business functions often stall dreams before they can flourish. For Gambian entrepreneur and international business consultant David Jeng, these challenges are not reasons for despair—they are a call to action. Over the past decade, Jeng has emerged as one of the continent’s most influential entrepreneurship advocates, guiding more than 10,000 entrepreneurs in over 20 countries, from Nigeria and Rwanda to Ethiopia, Kenya, and beyond. Building Bridges for…

For many Nigerians, the ability to go about daily life with peace of mind depends on one crucial factor—security. Meeting that need has become the life’s work of Dayo Washington, an entrepreneur who has built a fast-growing security enterprise that now operates successfully on two continents. Washington’s journey into business was inspired by lessons learned in childhood. In 1993, as a three-year-old, he watched his father launch a starch venture that eventually collapsed, alongside other entrepreneurial efforts that failed to stand the test of time. Those experiences left a lasting impression. “It taught me that success is not just about…

Abuja, Nigeria – Beyond the frontlines where soldiers defend the nation, their wives are increasingly being recognised as crucial players in building resilient families and communities. This recognition came into sharp focus at a personal development programme organised by the Defence and Police Officers’ Wives Association (DEPOWA) for members of the Defence Non-Commissioned Officers’ Wives Association (DENCOWA) in Abuja. Speaking at the event, Mrs. Oghogho Musa, President of DEPOWA, described the wives of military personnel as “the silent backbone of national security,” stressing that their ability to balance parenting, entrepreneurship, and personal wellness has a direct impact on both the…

Small and medium-sized enterprises (SMEs) are often described as the beating heart of Nigeria’s economy. They employ millions, power innovation, and keep local markets alive. Yet, despite their importance, most Nigerian SMEs face an uphill climb—limited access to funding, inefficient operations, and unstable government policies frequently stall their growth. In the midst of these challenges, Nigerian business strategist Oluwatosin Alabi has emerged as a trailblazer. Known for his expertise in business operations and supply chain management, Alabi has developed frameworks that are giving entrepreneurs the tools to scale their ventures sustainably in today’s competitive market. Making Big-Business Strategies Accessible to…

FirstBank of Nigeria Limited, West Africa’s oldest financial institution and a pioneer in digital inclusion, has rolled out its newest innovation — the FirstMonie Merchant Solution. Designed for businesses of every size, the platform provides a seamless, secure, and scalable way to accept digital payments while boosting operational efficiency for merchants across Nigeria. The unveiling marks another milestone in FirstBank’s long-standing mission to simplify financial access, broaden inclusion, and support enterprise growth across Africa. Transforming the Merchant Experience The FirstMonie Merchant Solution offers a comprehensive suite of tools that redefine the digital payment landscape. Businesses can now enjoy: Automated and…

Unemployment and underemployment remain two of Nigeria’s most urgent challenges, particularly for its rapidly growing youth population. While thousands graduate from universities each year, many find themselves unprepared for the realities of today’s job market. But one company, Tripoint Travels, is stepping forward with a bold experiment designed to change that narrative. The organisation has launched the Tripoint Academy Internship Programme, a six-month initiative that equips young Nigerians with practical skills, workplace exposure, and personal development training. The first cohort of the programme recently graduated in Lagos, marking a small but significant milestone. Out of the seven participants, three have…

Cape Coast played host last week to an extraordinary convergence of female leaders at the Women Allying Women (WAW) Conference, an annual forum founded by Her Royal Majesty Olori Atuwatse III, Queen Consort of the Warri Kingdom, Nigeria. The 2025 edition carried the theme: “Collective Power, Lasting Impact: Women Leading Ghana’s Sustainable Transformation.” Among the distinguished voices was Her Majesty Queen Wa Arian Simone—entrepreneur, philanthropist, CEO of the Fearless Fund, and founder of Fearless Freedom. She joined an influential panel titled “From the Crown to the Boardroom: Transgenerational Wisdom for Ghana’s Transformation.” The session explored how cultural traditions, governance principles,…

Nigeria’s economy has officially crossed the trillion-dollar gross domestic product (GDP) mark, but experts warn that the milestone is only the beginning. To truly unlock its potential, the country must embrace bold, research-driven reforms. This was the central message from Afrinvest, a leading investment banking group, at its 30th anniversary celebration and the unveiling of the 20th edition of its flagship Banking Sector Report (BSR) in Lagos. Themed “ACT-BOLD: Beyond a Trillion-Dollar Economy,” the report identifies seven key sectors—agriculture, creative industries and tourism, technology, banking and finance, oil and gas, logistics, and domestic manufacturing—as catalysts capable of propelling Nigeria toward…

President Bola Tinubu has instructed Nigeria’s financial and capital market regulators to intensify surveillance of the growing use of digital currencies and stablecoins, warning that their rapid adoption could undermine traditional banking systems if left unchecked. Delivering his message at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday, the President—represented by Finance Minister and Coordinating Minister of the Economy, Wale Edun—highlighted how the global financial landscape is being reshaped by technology. “We are witnessing a digital revolution. Increasingly, citizens no longer depend on banks for payments; instead, they…

In Nigeria, the life of an entrepreneur is often a paradox—overflowing with opportunity yet plagued by systemic hurdles. This contradiction is playing out in the case of Sijibomi Ogundele, widely known as Sujimoto, founder and CEO of Sujimoto Group. Celebrated for reshaping luxury real estate in Lagos, Sujimoto is now at the center of controversy over a ₦5.7 billion contract in Enugu State. Critics accuse him of failing to deliver, but supporters argue that he is being unfairly vilified in a system that punishes ambition more than it supports it. From Tall Towers to Schools Originally, the contract was meant…

Two global leaders from very different worlds—African business mogul Tony Elumelu and American cleric Cardinal Timothy Dolan—will share the spotlight at the Appeal of Conscience Foundation’s 60th Annual Gala on September 29, 2025, at the Waldorf Astoria in New York City. The foundation announced the dual recognition on September 4, noting that the award celebrates leaders who embody moral courage, ethical leadership, and interfaith cooperation. Since its creation in 1965, the honor has gone to prominent figures who reinforce the belief that “a crime committed in the name of religion is the gravest offense against religion itself.” Elumelu: Driving Africa’s…

Nigeria’s women entrepreneurs are set to take center stage globally as the Aurora Tech Award, in partnership with The Nest Innovation Technology Park, introduces the Foundry for HER Bootcamp—a three-day virtual accelerator designed for women-led, early-stage tech startups. The program goes beyond mentorship; it’s a deliberate effort to close long-standing gaps in funding, visibility, and access to international networks that have historically limited women in technology. By preparing participants for the Aurora Tech Award Open Call 2026, the bootcamp positions Nigerian founders to not only compete but also lead on the global innovation stage. “Nigeria has already proven itself, producing…

Kayode Odukoya, CEO of First Nation Airways, has called out the Economic and Financial Crimes Commission (EFCC) for failing to update its official website with his acquittal, nearly two years after the court cleared him of fraud, forgery, and theft charges. In December 2023, the Special Offences Court in Lagos dismissed all charges against Odukoya, ruling that the EFCC’s case “collapsed like a pack of cards” due to unreliable and inadmissible evidence. The judgment was seen as a decisive vindication for the airline chief after a lengthy legal battle. Yet, according to Odukoya, the EFCC’s continued failure to reflect the…