Author: Gift Ifeanyi

Across Nigeria’s evolving business landscape, a common thread runs through developments in finance, energy, technology, and enterprise: the country is rapidly becoming a hub of high-stakes opportunity and equally high pressure. From investment inflows and job creation to regulatory shifts and innovation surges, the economy is being reshaped by both structural challenges and emerging possibilities. In the financial sector, the Development Bank of Nigeria (DBN) reported that it has supported the creation of 1.6 million jobs since 2015, following the disbursement of over N1.4 trillion to Micro, Small and Medium Enterprises (MSMEs). In 2025 alone, more than N300 billion was…

Billionaire investor Femi Otedola has publicly denied allegations that he provided financial backing for the Dangote Petroleum Refinery, insisting the reports circulating online are inaccurate and misleading. In a statement shared on his X account on Monday, Otedola stressed that he did not contribute any funds to the refinery project in any form, dismissing the claims as completely false. He explained that rather than financing the project, he had actually expressed interest in participating in the refinery’s planned public offering, contradicting narratives suggesting he was a backer of the development. According to him, the President of the Dangote Group, Aliko…

Nigeria could miss out on critical investment inflows if it does not urgently reform its business registration system, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has warned. The caution was raised by Enefe Ekene, Chairman of RMAFC’s Investment Monitoring Committee, during a meeting in Abuja with the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole. He said delays in company registration and other administrative bottlenecks are weakening Nigeria’s appeal in an increasingly competitive global investment environment. According to him, investors today expect fast, simplified systems that allow businesses to be registered within days rather than weeks. He warned…

The recent celebrity boxing spectacle, Chaos in the Ring 4, has reignited conversations about the commercial future of sports in Nigeria—and whether private capital can unlock its full potential. Broadcast live on DAZN, the event drew massive attention both online and at the venue in Lagos. Overwhelming turnout led to crowd control issues, highlighting the level of public interest such entertainment-driven sporting events can generate. Inside the ring, comedian-turned-entertainer Carter Efe secured a unanimous victory and reportedly earned ₦50 million—underscoring the financial scale and audience appeal of celebrity-driven sports formats. A New Model for Sports Monetisation Beyond the spectacle, the…

Artificial intelligence may still feel abstract or intimidating to many businesses in Nigeria, but beneath the surface lies a multi-layered economic opportunity that extends far beyond popular tools like ChatGPT. Rather than being limited to software applications, the real value of AI is deeply rooted in infrastructure, talent, and systems integration—areas where Nigeria is still underdeveloped but uniquely positioned to grow. AI Starts with Infrastructure, Not Code At its core, the AI economy is powered by physical infrastructure—electricity, land, and computing systems. Reliable energy remains one of Nigeria’s biggest constraints, but it also represents a major entry point for entrepreneurs.…

The Federal Government of Nigeria has approved the creation of a new aircraft leasing company aimed at strengthening the country’s aviation industry and improving access to aircraft for local airlines. Announcing the decision after a Federal Executive Council meeting, Minister of Aviation Festus Keyamo explained that the initiative will operate as a privately funded Special Purpose Vehicle (SPV), structured to function on a commercial basis without direct financial burden on the government. A Private Model with Government Support The proposed entity—referred to as the Nigerian Aircraft Leasing Company—will focus on acquiring and leasing aircraft to domestic carriers. While privately financed,…

The Oba Adeyeye Enitan Ogunwusi, widely known as the Ooni of Ife, is redefining the role of traditional leadership in Nigeria by combining cultural influence with strategic business investments. His latest project, the Ojaja Mall and Suites, reflects a broader vision of economic empowerment driven by indigenous enterprise. Located along the Lekki–Ajah corridor in Lagos, the development represents a significant expansion of the monarch’s footprint in retail and hospitality—sectors he has consistently invested in over the years. A Royal Approach to Economic Development Unlike many traditional rulers, Ogunwusi has positioned himself not just as a supporter of local businesses but…

The Development Bank of Nigeria (DBN) has reinforced its position as a key driver of small business growth, revealing that its financing activities have supported the creation of approximately 1.6 million jobs since its inception in 2015. Speaking at the bank’s 9th Annual General Meeting in Abuja, Managing Director and CEO Tony Okpanachi disclosed that the institution has disbursed over ₦1.4 trillion to micro, small, and medium enterprises (MSMEs) through partner financial institutions nationwide. Rising Annual Impact In 2025 alone, DBN released more than ₦300 billion in funding, reaching over 180,000 businesses. The figures highlight a steady expansion in financial…

Coinage Fund Management Ltd has received regulatory approval from the Securities and Exchange Commission Nigeria to operate as a licensed fund and portfolio manager, marking its official entry into Nigeria’s structured investment advisory space. The approval positions the firm to provide professional wealth management services across a wide client base, including high-net-worth individuals, institutions, corporate organisations, and emerging investors seeking more structured financial guidance. Expanding Access to Professional Investment Services With the new license, Coinage Fund aims to address a long-standing gap in Nigeria’s financial ecosystem—limited access to credible, professional investment advisory services. Chief Executive Officer Biodun Oke described the…

Agribusinesses across Sub-Saharan Africa now have an opportunity to access growth capital as AgDevCo opens applications for its long-term investment programme. The initiative targets commercially viable businesses in the agriculture sector that are ready to expand operations while delivering measurable impact across food systems, employment, and rural development. Bridging Africa’s Agribusiness Funding Gap Access to large-scale, patient capital remains a major barrier for agribusinesses in Africa. Many small and medium-sized enterprises struggle to scale despite having proven business models. AgDevCo’s investment model is designed to address this gap by offering structured financing—both debt and equity—tailored to the needs of each…

The Association of Telecommunications Companies of Nigeria (ATCON) has called for stronger local content development as a key strategy to drive sustainable growth in Nigeria’s digital economy. The association made this known during its Annual General Meeting held in Lagos, where industry stakeholders emphasized the need to empower local Internet Service Providers (ISPs) and small and medium-sized enterprises (SMEs) as critical drivers of national digital transformation. Local Content as an Economic Strategy Speaking at the event, CEO of Broadbased Communications Limited, Chidi Ibisi, explained that local content should not be viewed as protectionism but as a structured approach to building…

A new five-volume business publication series by Ekundayo George is offering a structured guide to entrepreneurship, operations, and long-term business sustainability, drawing from over four decades of professional experience across regulatory, legal, and corporate environments in the United States and Canada. The series is organised into 36 chapters across five themed volumes, each addressing a different stage of the business lifecycle—from starting a venture to sustaining long-term success. Volume I: Building and Starting a Business The first volume focuses on foundational business development, including startup planning, business model design, fundraising strategies, marketing, and project management. It also introduces analytical tools…

Analysts at Cowry Asset Management Limited have raised concerns over Nigeria’s short-term economic performance following new data showing a slowdown in business activity across key sectors. Their latest review of the April 2026 Purchasing Managers’ Index (PMI) released by the Central Bank of Nigeria indicates that economic momentum weakened significantly during the month. First Contraction in Over a Year The composite PMI fell to 49.4 points, dropping below the 50-point benchmark that separates expansion from contraction for the first time in 16 months. This signals a technical contraction in private sector activity. According to Cowry Asset, the decline reflects reduced…

Africa is increasingly being positioned as a critical force in the future of the global artificial intelligence (AI) economy, with industry leaders arguing that its importance goes far beyond data and software innovation. Speaking at the UNLEASH Global Business Conference 2026, held at the Johns Hopkins University Bloomberg Center, Dr. Elizabeth Jack-Rich, Chief Executive Officer of ELIN Group, emphasized a shift in how AI should be understood globally. According to her, the common perception of AI as purely a software-driven field is incomplete. She argued that the technology is deeply rooted in physical systems—relying heavily on energy supply, computing infrastructure,…

At the 2026 edition of The Platform Nigeria 2026 held in Lagos, former Finance Minister Kemi Adeosun delivered a candid message to aspiring entrepreneurs: failure is not the opposite of success—it is part of the process. Drawing from her personal journey, Adeosun revealed that she had launched nine businesses, with six not succeeding. Rather than viewing those experiences as losses, she framed them as critical lessons that shaped her understanding of how businesses truly operate. She challenged the popular assumption that starting a business automatically leads to success, warning that such thinking can set unrealistic expectations. Instead, she encouraged a…

Small business owners and aspiring entrepreneurs in Lagos are set to benefit from a new financing initiative launched through a partnership between Agege Local Government and the Lagos State Employment Trust Fund. The programme, introduced by Abdulganiyu Obasa, is designed to improve access to capital for startups and small-scale enterprises within the Agege community. Under the scheme, qualified applicants can access loans of up to ₦1 million at an annual interest rate of nine percent. According to Obasa, the initiative is part of a broader effort to stimulate local enterprise, reduce poverty, and strengthen economic participation among residents. The first…

Nigeria’s federal government has reinforced its commitment to making micro, small, and medium enterprises (MSMEs) the driving force behind the country’s economic transformation. Speaking at the 6th Annual Lecture of the Development Bank of Nigeria in Abuja, Vice President Kashim Shettima—represented by Tope Fasua—highlighted the critical role small businesses play in national development. He emphasized that MSMEs contribute over 80 percent of employment in Nigeria and form a substantial part of the country’s economic output. Rather than being seen as minor players, they are positioned as essential to achieving the administration’s broader economic vision under President Bola Tinubu’s reform agenda.…

Nova Commercial Bank has outlined an ambitious post-recapitalisation strategy focused on expanding credit access, strengthening digital infrastructure, and deepening its presence in underserved segments of Nigeria’s banking market. Rather than pursuing scale for its own sake, the bank says its priority is to become a preferred financial partner—leveraging a hybrid model that blends relationship-driven banking with modern digital delivery. Targeting Gaps in Nigeria’s Banking System The bank has identified three critical areas where it believes it can gain a competitive edge. These include improving access to credit for small and medium-sized enterprises (SMEs), expanding retail banking services to underserved communities,…

Global software giant Adobe is accelerating its expansion across Africa, with Nigeria emerging as a central hub in its strategy to tap into the fast-growing creative and AI-driven economy. Speaking during a media event in Lagos, Magalie Meuris outlined the company’s long-term commitment to the region, emphasizing that the move goes beyond short-term engagement and reflects a deeper investment agenda. The event also marked Adobe’s partnership with Redington, aimed at strengthening market access and delivering advanced creative solutions locally. Meuris highlighted the rapid rise of Africa’s creator economy, which has already crossed the $3 billion mark and is projected to…

A group of ten emerging startups in Nigeria has secured a combined $560,000 in funding to develop solutions addressing the growing risks of extreme heat on food systems, public health, and infrastructure. The funding comes through the TECA Heat Action Wave (THAW) Programme, an initiative focused on supporting early-stage ventures building climate resilience technologies. The selected startups are working on practical innovations aimed at protecting agricultural productivity, improving health outcomes, and strengthening vulnerable systems affected by rising temperatures. The programme reflects a growing recognition that climate change—particularly extreme heat—is no longer a distant concern but an immediate challenge impacting food…