Author: Gift Ifeanyi

Carloha Nigeria, the sole distributor of Chery vehicles in the country, is reshaping what it means to own a car by combining affordability, peace of mind, and a forward-looking service experience. With its newest customer-focused initiatives, the company is making brand-new sedans and SUVs more accessible to Nigerians while ensuring long-term value through an unmatched after-sales framework. At a recent media gathering at its Alapere showroom in Lagos, Managing Director Sola Adigun explained that Carloha’s strategy is rooted in innovation, significant investments, and staff training. According to him, the company is not only improving the car ownership journey for Nigerians…

In a bold move to support small business owners and side hustlers, PalmPay has unveiled the PalmPay Hustle Grant, an initiative designed to provide financial relief and recognition for hardworking Nigerians. The program offers ₦500,000 cash prizes to selected individuals whose businesses and personal stories reflect determination, innovation, and impact. Who Is Eligible? PalmPay explained that the grant is open to Nigerians engaged in side hustles, startups, or entrepreneurial ventures. Applicants are expected to share an inspiring story about their hustle, highlighting challenges, resilience, and future plans. They must also demonstrate how ₦500,000 would significantly elevate their business—whether through expansion,…

Nigeria has reached a financial milestone: the country’s foreign exchange (FX) reserves climbed to $41 billion in mid-August, the highest level seen in four years, according to the Central Bank of Nigeria (CBN). For policymakers, this represents a win for economic stability; for ordinary citizens, it raises a harder question—when will the numbers translate into relief at the market and in their pockets? The CBN attributes the growth to stronger oil output, higher export revenues, and targeted policy interventions. Economists see it as a sign of renewed investor confidence, the kind of signal that boosts Nigeria’s international credit profile and…

Nigeria’s oil and gas sector recorded a double breakthrough in July 2025: gas flaring dropped to 7.16%, even as daily production climbed to 7.59 billion standard cubic feet per day (BSCFD), according to fresh data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The regulator described the milestone as proof of progress toward its 2030 zero-flare commitment, noting that the country has managed to raise output while curbing environmental waste. “The simultaneous growth in output and decline in flaring underscores the Commission’s drive to boost production while advancing its 2030 zero-flare commitment,” NUPRC said in a Saturday statement. Production on…

The Lagos State Government has committed nearly ₦75 million in fresh grants to fuel scientific research, technological innovation, and STEM-focused initiatives across the state. The funding, managed through the Lagos State Science Research and Innovation Council (LASRIC), is designed to strengthen a knowledge-based economy, boost entrepreneurship, and position Lagos as a leading hub for innovation in Africa. The support was distributed in three categories — Research and Development (R&D), Innovation, and STEM Education — demonstrating the state’s focus on nurturing talent and equipping future leaders. At the awards ceremony, held at the Governor’s Office Banquet Hall in Alausa, Ikeja, the…

Nigeria’s manufacturing industry is under increasing pressure to embrace modern systems that boost efficiency, competitiveness, and long-term growth. At the 58th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), Ikeja Branch, SeamlessHR reaffirmed its commitment to helping manufacturers achieve this transformation through innovative human resource technologies. Chidi Orji, Director of Sales at SeamlessHR, highlighted the company’s track record of building digital tools used in more than 20 countries and trusted by over 2,000 organisations spanning diverse industries, including manufacturing. He explained that while SeamlessHR is known for its HR and payroll platforms, it has also designed specialised solutions…

Nigeria’s digital economy received a major boost on Saturday as Arigo Technologies introduced seven groundbreaking platforms aimed at proving that Africa can be more than a consumer of global innovations — it can be a creator and trailblazer. At the Lagos launch event, Dr. Arinze Madueke, founder of the company, said the platforms were specifically designed to tackle Africa’s unique social and economic challenges while showcasing the continent’s ability to lead in global technological transformation. “We are not just releasing apps. These are solutions that open up jobs, empower small businesses, connect talents, and demonstrate that Africa can take the…

Nigeria’s small and medium-sized enterprises (SMEs), which serve as the backbone of the country’s economy, are facing a massive funding gap estimated at $158.1 billion, a challenge experts say is stifling growth and limiting job creation. Speaking at the close of the SDG Investment Forum in Abuja, hosted by Onyx Investment Advisory Limited (OnyxIAL) and the United Nations Development Programme (UNDP) Nigeria, the Chief Executive Officer of the Impact Investors’ Foundation, Etemore Glover, stressed that the financing challenges confronting SMEs remain a critical barrier to their expansion. At the event, at least three Nigerian enterprises secured investment commitments and advisory…

Nigeria and Colombia have elevated their diplomatic ties with the signing of a Memorandum of Understanding (MoU) on political consultations, setting the stage for stronger economic and cultural collaboration. The agreement, formalized during the Nigeria-Colombia Bilateral Meeting and Business Forum at the Presidential Villa, was signed by Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, and Colombia’s Deputy Minister for Multilateral Affairs, Mauricio Jaramillo Jassir. According to Jassir, the MoU will pave the way for consistent political dialogue and ease visa approvals for Colombian diplomats, making bilateral engagement smoother and more effective. Shettima Pushes for Economic Transformation Nigeria’s Vice President, Kashim Shettima,…

Nigeria’s digital economy has moved far beyond experimentation, evolving into one of Africa’s fastest-growing engines for consumer engagement and capital inflows. With 38.7 million active social media users in 2025—reflecting a 5.3% jump in just one year—the country’s online ecosystem is advancing faster than many global benchmarks in both innovation and user adoption [1]. This momentum is fueled by a unique blend of factors: nationwide 4G/5G rollout, a predominantly youthful demographic (60% under 25), and explosive growth on platforms like TikTok (56.9%) and X (31.7%) [1]. For investors, the opportunity lies not just in raw numbers but in how local…

Nigeria’s infrastructure finance landscape has undergone a quiet but significant transformation since 2017 with the creation of the Nigerian Infrastructure Credit Enhancement Facility (InfraCredit). The institution, set up through a partnership between the Nigeria Sovereign Investment Authority and the Private Infrastructure Development Group (PIDG), was established to provide guarantees in local currency, reducing risk for investors and enabling the financing of large-scale projects. InfraCredit’s journey began with a USD 25 million contingent capital injection from GuarantCo, PIDG’s guarantee arm. This was further strengthened in 2020 when PIDG’s project development subsidiary, InfraCo, added USD 27 million in equity, boosting the company’s…

Women in Management, Business and Public Service (WIMBIZ) has announced the theme for its 24th Annual Conference: O.W.N – Own. Walk. Nurture. WIMBIZ, a leading non-profit organization dedicated to inspiring and empowering women to attain leadership roles, confirmed that the landmark event scheduled to take place on November 6–7, 2025 at Eko Hotel & Suites, Victoria Island, Lagos, will bring together over 2,000 women leaders, entrepreneurs, professionals, policymakers, and visionaries from across Africa and the globe. According to the Executive Director, Omowunmi Akingbohungbe, the theme “O.W.N – Own. Walk. Nurture.” reflects WIMBIZ’s commitment to inspiring women to take ownership of…

Nigeria is beginning to unlock its vast natural gas reserves after decades of underutilisation, with the Midstream and Downstream Gas Infrastructure Fund (MDGIF) driving projects that promise to lower costs, boost industry, and advance the country’s energy transition. Launched by President Bola Tinubu in early 2024, the Fund was created to plug infrastructure gaps that have long prevented gas from becoming a mainstream energy source. Within its first year, MDGIF has backed 16 companies, financing projects that range from compressed natural gas (CNG) stations to large-scale storage terminals. Some initiatives are already reshaping access to cleaner fuel. FEMADEC Energy has…

Adesola Fabusuyi, founder and CEO of couture and bridal brand Trendencias Apparel, has called on the Federal Government to urgently tackle obstacles crippling Nigeria’s business environment, warning that entrepreneurs are losing ground under harsh conditions. Speaking at a press briefing in Lagos, Fabusuyi said the current climate is discouraging investment, slowing job creation, and weakening the country’s competitiveness. She highlighted unreliable power supply, high production costs, and limited access to finance as persistent barriers to growth. “Unstable power supply is one of the biggest struggles. A sudden outage in the middle of production can throw off our timelines and affect…

Nigeria’s financial system is battling more than economic headwinds — it is grappling with a deep-rooted trust crisis. From collapsed banks to the rise of Ponzi schemes, years of broken promises have left citizens wary of institutions meant to safeguard their wealth. This distrust is not confined to the poor or uninformed. Middle-class professionals, entrepreneurs, and even wealthy investors routinely fall prey to fraudulent platforms promising outsized returns. Behind every collapse is a trail of lost savings, dashed hopes, and growing skepticism toward legitimate financial products. Temitope Ijibadejo, Africa Regional Director at SquaredFinancial, sees this as the biggest threat to…

Nigeria’s recent decision to suspend raw shea nut exports for six months has sparked mixed reactions, with experts weighing both the benefits and drawbacks. Professor Mohammed Ibrahim, former secretary of the National Shea Products Association of Nigeria (NASPAN) and communications officer at the Centre for Shea Research, Federal University of Technology, Minna, told BBC News Pidgin that while the government’s move could strengthen the local economy, it also threatens to unsettle investors who have already committed large sums to the industry. The federal government explained that the ban aims to shift Nigeria from being a major supplier of raw nuts…

Small and medium-sized enterprises (MSMEs) are the engine of Nigeria’s economy, making up nearly 90% of businesses and employing millions. From delivery startups to street food vendors, these enterprises keep local markets alive. Yet, their growth is weighed down by steep operating costs, unreliable transport, and the rising price of fuel. Into this gap steps Spiro, a company reshaping mobility for small businesses with its fleet of electric motorcycles. More than just a transportation alternative, Spiro’s model is redefining how entrepreneurs operate, offering both economic relief and environmental benefits. Electric bikes bring clear advantages: fewer emissions, less noise, and healthier…

Swiss construction giant Holcim has completed the sale of its 83.81% controlling interest in Lafarge Africa PLC to China’s Huaxin Cement for USD 1 billion. The transaction strengthens Holcim’s financial flexibility, enabling the company to channel resources into its growth strategy, while Lafarge Africa continues operations in Nigeria under new ownership. The move is part of Holcim’s broader portfolio realignment, allowing it to sharpen focus on global priorities in sustainable construction. For Nigeria, Huaxin Cement’s takeover signals continuity in business operations, with expectations of fresh investment to drive long-term development. On the financial markets, Holcim’s stock (CH:HOLN) carries a “Hold”…

Nigeria is preparing to host the Nigeria International Lighting Expo (NILE) 2025 in Lagos from September 17–19, an event that goes beyond trade exhibition to highlight the country’s ambitions in energy transition and its growing partnership with China. Organised by Zhongsheng International Business (Zhongshan) Co. Ltd., the Expo will spotlight the theme “Zero-Carbon Lighting: Supporting Nigeria’s Energy Transition Goals,” aligning directly with the federal and Lagos State government’s agenda to push renewable, energy-efficient solutions across urban infrastructure. With nearly 100 international exhibitors — including brands like C-TORCH, AKT, VELLMAX, BLUE CARBON, and VANGE SOLAR — and more than 5,000 buyers…

This September, Lagos will welcome thousands of professionals, innovators, and faith-driven leaders from across the world for the Light Conference 2025, a fast-rising platform shaping how purpose and enterprise intersect. The gathering, which expects over 3,000 in-person and virtual participants spanning 21 nations, goes beyond traditional networking. It is designed as a spiritual and intellectual ignition point where attendees gain strategies to influence industries while staying anchored in kingdom values. One of the highlights of the conference is the unveiling of Haoma Worgwu’s new book, From Unknown to Globally Recognised LinkedIn Queen. The book distills her journey of exponential growth…