Author: Gift Ifeanyi

Ike Chioke, the Group Managing Director of Afrinvest, has paid tribute to the late Nigerian businessman and entrepreneur, Pascal Dozie, describing him as a humble man who quietly reshaped the resources and lives around him. Dozie passed away on April 8, 2025, just a day before his 86th birthday. In a statement issued on Friday, Chioke praised Dozie as a person who embodied “calm and peace at the summit,” quoting William Shakespeare’s Julius Caesar to describe his serene and impactful presence. Dozie was well-known for his leadership roles, including as the former chairman of MTN Nigeria, founder of Diamond Bank…

Amid the technological transformation sweeping through Africa’s most populous country, Nigeria has played a pivotal role in reshaping Microsoft’s global strategy. As the company commemorates its 50th anniversary, Nigeria emerges as a standout market—one that has not only embraced Microsoft’s products but has also influenced its global approach to innovation. I sat down with Ola Williams, Managing Director of Microsoft Nigeria and Ghana, to explore how Nigerian consumer behavior and entrepreneurial ingenuity have impacted Microsoft’s trajectory over the past quarter-century. 25 Years of Significant Engagement Reflecting on the company’s deep-rooted presence in Nigeria, Williams shares, “We’ve been in Nigeria for…

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) is set to host its highly anticipated 2025 Annual National Conference, where real estate professionals and industry stakeholders will gather to explore key topics surrounding real estate investment, transformation, and success in the sector. This year’s conference will delve into strategies for optimizing real estate finance and taxation, offering sustainable solutions for the industry’s growth and future development. According to Victor Adekunle Alonge, National Conference President and Chairman of Council, NIESV, the event will bring together estate surveyors, valuers, and other prominent figures from the Nigerian real estate industry, as well…

A select group of eight countries within the Organisation of the Petroleum Exporting Countries (OPEC+) has moved forward their policy meeting by two days, now scheduled for May 3 instead of May 5. This adjustment is expected to accommodate oil ministers who had scheduling conflicts. The countries involved in this meeting include Saudi Arabia, Russia, the UAE, Kuwait, Iraq, Algeria, Oman, and Kazakhstan. The purpose of the meeting is to discuss and determine crude production targets for the month of June. The decision to expedite the meeting comes after the eight countries agreed in early April to accelerate plans to…

The AfricArena Lagos Fintech, Mobility, and Logistics Summit came to a successful conclusion at the Eko Hotel and Suites on Victoria Island in Lagos, Nigeria, marking a significant milestone in the growth of West Africa’s fintech, mobility, and logistics sectors. The event saw five start-ups and one investor emerge as the standout performers. Organized in collaboration with AWS Startups, GIZ, Redington, VonTech Group, and Methys, the summit showcased the incredible potential of West Africa’s digital ecosystem, highlighting the region’s ability to nurture world-class talent. Held alongside the 21st AVCA Conference and VC Summit, the AfricArena event gathered top global venture…

In a bid to strengthen the nation’s economic backbone, the Nigerian government has allocated N2.25 billion to support 16,696 Micro, Small, and Medium Enterprises (MSMEs) in Gombe State. This disbursement is part of the broader N200 billion loan scheme designed to bolster MSMEs and manufacturing businesses nationwide. The announcement was made at a town hall meeting in Gombe on Friday, organized by the Bank of Industry (BoI), which is overseeing the distribution of the funds on behalf of the government. During the event, the Managing Director and CEO of BoI, Dr. Olasupo Olusi, represented by Mr. Mohammed Maina, the North…

Lendsqr, a Nigerian lending software startup, is pioneering an artificial intelligence model that could redefine credit access for millions. By analyzing borrowers’ voices and facial expressions, the AI aims to determine creditworthiness—offering a lifeline to Nigerians who lack formal financial documentation. Currently 76% accurate, the model is designed to support small loans between ₦30,000 ($18) and ₦50,000 ($31), bridging a critical gap for underserved Nigerians. Rethinking the Lending Playbook Traditional lenders typically assess borrowers using the “five Cs”—character, capacity, capital, collateral, and conditions. But for many in Nigeria’s mass market, producing documents to prove these traits is nearly impossible. That’s…

The Development Bank of Nigeria (DBN) has approved a ₦5.83 billion dividend payout for the 2024 financial year, signaling strong performance and shareholder confidence. This equates to ₦58.35 kobo per share. At its 8th Annual General Meeting (AGM) held in Abuja, DBN shareholders also gave the green light for a $2.5 million (₦equivalent) equity investment in the proposed Youth Entrepreneurship Investment Bank (YEIB)—a strategic move to support youth-driven enterprises across Nigeria. Record-Breaking Financial Growth Independent Non-Executive Director, Mr. Kyari Bukar, highlighted DBN’s impressive financial growth in 2024. Profit Before Tax (PBT) soared to ₦38.8 billion—up 60% from ₦24.5 billion in…

President Bola Ahmed Tinubu has extended warm appreciation to Nigerian workers in celebration of Workers’ Day, acknowledging their pivotal role in driving the nation’s economy and development. In a message shared on his official X (formerly Twitter) account, the President praised workers as the “engine of our economy” and the “secret to our nation’s growth.” “Happy Workers’ Day. You are the engine of our economy and the secret to our nation’s growth. Our administration has and will continue to prioritise workers’ welfare. Together, we will make Nigeria great again,” Tinubu wrote. Honouring Contributions Across All Sectors Tinubu’s message struck a…

Nigeria will require a staggering $410 billion in investments to achieve its clean energy goals and reach net-zero carbon emissions by 2060, according to the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu. Speaking during the Global South Peer Learning Workshop on Country Platforms for Climate Action and Just Energy Transition, organized by the Africa Policy Research Institute (APRI), Bagudu emphasized the critical need for collaboration and strategic investment to drive Nigeria’s energy transition. Unlocking $23 Billion in Clean Energy Opportunities The Minister revealed that Nigeria has already identified $23 billion in investment-ready opportunities across key areas such…

Nestlé Nigeria Plc has kicked off 2025 on a strong note, posting its best quarterly performance to date. The food and beverage giant reported N294.88 billion in revenue and a pre-tax profit of N51.15 billion in the first quarter, marking a dramatic turnaround from the N196.09 billion loss recorded in Q1 2024. This resurgence builds on the company’s return to profitability in Q4 2024 and signals growing financial stability. Key Q1 2025 Financial Highlights (YoY): Revenue: N294.88 billion (+60.71%) Cost of Sales: N175.16 billion (+30.31%) Gross Profit: N119.72 billion (+144%) Marketing & Distribution Expenses: N34.86 billion (+76.6%) Administrative Expenses: N11…

Nigeria’s stock market soared in 2024, but most Nigerians remain on the sidelines. The Nigerian Exchange (NGX) posted an impressive 37.65% return in 2024, closing the year at 102,926.40 points, up from 74,773.98 at the beginning of the year. This bull run added ₦15.41 trillion in capital gains for investors, fueled by robust earnings from listed companies and policy reforms. Yet, for the average Nigerian, the boom means little. Why Nigerians Aren’t Investing Despite Market Gains While the market’s performance paints a picture of prosperity, actual participation tells a different story. Out of over 5 million Central Securities Clearing System…

The African Development Bank (AfDB) has unveiled a new five-year Country Strategy Paper (CSP) for Nigeria, pledging an average of $650 million annually from 2025 to 2030 to spur economic transformation, tackle infrastructure challenges, and promote inclusive, sustainable growth. In a statement on its official website, the Bank said it plans to invest $2.95 billion over the first four years, with an additional $3.21 billion anticipated from international partners through co-financing agreements. Two Main Focus Areas of the Strategy The newly approved strategy is built around two key pillars: Sustainable, climate-smart infrastructure – aimed at strengthening Nigeria’s competitiveness and boosting…

My-ACE China, an entrepreneurial expert and real estate innovator popularly known as the Mayor of Housing, has called on the African Union (AU) to establish clear frameworks and tools for identifying and supporting authentic entrepreneurs and high-performing brands across Africa. According to him, such initiatives would spur continental innovation, generate employment, and elevate Africa’s global competitiveness by challenging entrepreneurs to deliver value beyond local boundaries. Call for Action: AU Must Recognize True Performers Speaking during a recognition event where prominent African figures such as Aliko Dangote and Seyi Tinubu were also honored, China—who was named among Africa’s 100 most influential…

Lagos, Nigeria – Africa’s richest man, Aliko Dangote, has expressed confidence in the face of recently imposed U.S. tariffs on Nigerian exports, saying he is “comfortable” with the potential impact on his urea shipments to the United States. Speaking at an investment conference in Lagos, Dangote acknowledged that while the 14% tariff introduced by former U.S. President Donald Trump initially raised concerns, the higher tariff on a key competitor has helped level the playing field. “When I first heard about the 14% tariff on Nigeria, I was worried,” Dangote said. “But when I checked who we’re really competing with—it’s Algeria.…

Dr. Uzonna Nwangwa, Group Managing Director and CEO of Irvin Global and Investment Group, has been recognized as one of Africa’s top young leaders at the renowned 40Under40 T.I.M.E. Conference. This prestigious honor celebrates 40 exceptional individuals under the age of 40 who are making transformative impacts across industries and communities on the continent. Celebrating Africa’s Visionary Change-Makers The T.I.M.E. Conference, an acronym for Trailblazers, Innovators, Mentors, and Entrepreneurs, is a highly esteemed platform dedicated to spotlighting the brightest minds shaping Africa’s future. Dr. Nwangwa’s recognition affirms his influential role in Nigeria’s financial services industry and his commitment to inclusive…

Ibadan, Oyo State – The Nigerian Bar Association Section on Business Law (NBA-SBL) will host the second edition of its Tourism and Retreat Roundtable from May 9 to 11, 2025, at De-Signature Hotels, Ibadan, Oyo State. Themed “Repositioning Nigeria’s Tourism and Hospitality Sectors: From Seasonal Hype to Sustainable Prosperity,” this year’s Roundtable seeks to build on the success of the inaugural retreat, which took place in Abeokuta, Ogun State, in October 2024. The 2024 event featured prominent speakers, including the Ogun State Commissioner for Tourism, who delivered the keynote address. Keynote Speaker & Panel Discussions The 2025 event will bring…

At the Doing Business in Nigeria Conference 2025 held in Lagos, prominent business leaders urged Nigerian companies to embrace innovation and invest in talent to thrive in a challenging economic landscape. The summit, which brought together top executives and policymakers, was centered around the theme “Navigating the Storm: Thriving in a Transforming Nigeria.” It featured insightful panel discussions, fireside chats, exhibitions, and business pitches. Leadership and Talent: Key to Surviving Uncertainty In his keynote address, Fola Aiyesimoju, Group Managing Director of UAC of Nigeria PLC, emphasized that the survival of Nigerian businesses in uncertain times depends largely on leadership and…

Nigeria’s cold chain sector, valued at N160 billion in 2023, is ripe for investment, with massive opportunities emerging in storage and transportation solutions for perishable goods. However, the country faces a significant shortfall in cold chain infrastructure, with fewer than 1,000 cold trucks available, far below the 25,000 needed to transport over 11 million metric tonnes of perishables annually, according to a report by the U.S. International Trade Administration (ITA). A Growing Market with Untapped Potential The cold chain sector is rapidly becoming one of Nigeria’s most promising industries, offering a variety of investment avenues. From automated storage systems and…

In a high-powered room on the 14th floor of the NASDAQ Building in Times Square, New York, global finance giants and top investors from firms like JP Morgan and Standard Chartered gathered to hear Nigeria’s pitch. Alongside them were influential members of the Nigerian diaspora, including the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, CEO of the Nigerian Exchange (NGX) Temi Popoola, and CEO of the Central Securities Clearing System (CSCS) Haruna Jalo Waziri. The mission was clear: Nigeria is open for business, and it wanted the world to know. This gathering was one of many side…