Author: Gift Ifeanyi

In a bold move towards sustainability, Empower New Energy, an Africa-focused solar developer and impact investor, has announced a debt financing deal that will allow the company to install at least 26 commercial-scale rooftop solar and battery storage plants across Nigeria. The financing, backed by the Afrigreen Debt Impact Fund—managed by Rgreen Invest and advised by Echosys Invest—will power Justrite Superstores, a leading Nigerian retail chain. Empower will deploy solar photovoltaic (PV) arrays that are expected to generate over 8,000 MWh of electricity annually, fueling Justrite’s operations. A Step Toward Greener Retail The new funding will see the installation of…

In an insightful conversation on Talknomics with Ugodre, Dr. Muda Yusuf, Executive Director of the Centre for the Promotion of Private Enterprise (CPPE), shared key insights into why Nigerian manufacturers are experiencing unprecedented success across the African continent. Thanks to recent foreign exchange (FX) reforms, Nigerian exports have gained significant momentum, particularly to neighboring African countries. As a result, made-in-Nigeria goods are becoming increasingly competitive, setting the stage for local manufacturers to capitalize on new opportunities. However, it’s not all smooth sailing. Dr. Yusuf highlighted ongoing challenges that manufacturers continue to face, such as rising energy costs, poor infrastructure, and…

Agriculture remains the backbone of Nigeria’s economy, employing millions and holding enormous potential for national development. Yet, persistent hurdles like poor market access, limited financing, and fragmented value chains continue to constrain the sector’s full impact. In recent years, a wave of agricultural technology (agtech) startups has emerged to rewrite that narrative—introducing data-driven solutions, modern tools, and smart capital to elevate Nigeria’s agricultural ecosystem. These startups are tackling food security, climate resilience, and youth unemployment while empowering smallholder farmers with innovation. Between 2014 and 2024, Nigeria’s top five agtech startups collectively raised nearly $150 million, according to insights from Briter…

In the investment world, few indicators attract more attention than the dividend payout ratio—a metric that shows how much of a company’s profit after tax is returned to shareholders as dividends. A high payout ratio signals a strong focus on rewarding investors, while a lower one implies the company is reinvesting for future growth. In 2024, Nigerian companies, particularly in the manufacturing sector, have leaned heavily toward generous dividend distributions, whereas banks have opted for a more cautious approach. Manufacturers Take the Lead in Payout Generosity Leading the charge in dividend disbursements are Nigeria’s top manufacturing firms, with Dangote Cement,…

In a major boost to Nigeria’s clean energy ambitions, Arnergy Solar, a leading renewable energy solutions provider, has closed an $18 million Series B funding round to scale its solar power deployments and deepen its impact across vital sectors. The investment was spearheaded by CardinalStone Capital Advisers Growth Fund (CCA-GF), with British International Investment (BII) joining the round as a new investor, committing $3 million. Existing backers such as Norfund, Breakthrough Energy Ventures (BEV) — founded by Bill Gates — EDFI Management Company, and Shell-backed All On also participated, reaffirming their support. This fresh funding includes a $15 million Series…

The Centre for the Promotion of Private Enterprise (CPPE) has raised strong objections to the proposed Raw Materials Research and Development Council (RMRDC) Bill, cautioning that it could severely disrupt Nigeria’s fragile export economy and burden manufacturers already grappling with high operating costs. The bill, now before the National Assembly, mandates that all primary product exports include a minimum of 30% local value addition and restricts manufacturers from importing raw materials considered locally available in sufficient quantity. In a statement dated April 21, CPPE Director and CEO Dr. Muda Yusuf described the bill as well-intentioned but dangerously simplistic, warning it…

Northern Nigeria’s commercial hub, Kano, is fast becoming a beacon of innovation. While Lagos often steals the spotlight in Nigeria’s tech narrative, Kano is quietly building a thriving startup ecosystem that’s solving real problems—and gaining national attention. Once celebrated primarily for its historical and agricultural roots, Kano is now emerging as a hotbed for technology-driven innovation. The city currently ranks 304th globally among the top 1,000 startup cities and holds the 7th position within Nigeria. As of October 2023, Kano commands a 25% market share in Northern Nigeria’s startup activity, ahead of Abuja and Kaduna. From Agritech to Fintech: A…

The countdown is on! In just one week, Lagos will host one of the most anticipated tech gatherings of the year — the AfricArena Lagos Summit 2025. Taking place on Wednesday, April 30 at the Eko Hotel and Suites in Victoria Island, this summit is set to shine a spotlight on West Africa’s most promising startups and innovators. With a focus on fintech, mobility, logistics, energy, e-commerce, and agritech, the event promises to deliver groundbreaking ideas and investment opportunities that reflect the region’s vibrant tech ecosystem. Connecting African Innovation with Global Capital AfricArena has long positioned itself as a gateway…

In a strategic effort to build momentum ahead of its official launch, Spring Sky Finance welcomed a delegation of eight former Super Eagles footballers to its Ikoyi, Lagos headquarters on Monday. The event, staged as a business engagement initiative, is part of the company’s broader mission to foster financial inclusion and win grassroots support for its soon-to-be-launched digital banking platform. Scheduled to roll out on February 28, 2025, Spring Sky Finance is entering Nigeria’s competitive fintech space with bold promises — streamlined loan access, AI-powered services, and customized credit solutions tailored for individuals and small businesses. Building Trust Through Legacy…

Entrepreneurs and small business owners have been advised to prioritize building solid business structures over the pursuit of capital, as structure, credibility, and clarity are essential ingredients for sustainable growth. This message was a key highlight of the SME Funding Conference hosted by Covenant Capital, the enterprise and advisory arm of The Covenant Nation, held recently in Lagos. Speaking at the event, Yemi Keri, Board Chair of the Lagos Angel Network, cautioned that many business owners misunderstand the role of capital in business development. According to her, entrepreneurs often assume that access to funding will automatically lead to business growth…

The Deputy Vice-Chancellor of Bowen University, Professor Tunde Lawal, has stated that the growing unemployment rate among Nigerian graduates is no longer a sign of educational failure, but rather a reflection of the nation’s universities increasingly producing functional graduate entrepreneurs. He made this remark during the 2025 Entrepreneurship Week, an annual event organized by Bowen University to showcase student-led innovations, products, and services learned during their vocational training. The event also serves as a national trade fair, attracting accomplished entrepreneurs and alumni from across the country. Representing the Vice-Chancellor, Professor Jonathan Babalola, Prof. Lawal emphasized the importance of creating avenues…

The Women Exporters in the Digital Economy (WEIDE) Fund, a joint initiative by the World Trade Organization (WTO) and the International Trade Centre (ITC), has officially launched its first call for applications to support women-led businesses in Nigeria, Mongolia, and the Dominican Republic. The application window runs from April 22 to May 18, 2025, with Jordan to follow shortly. The initiative offers financial support, technical assistance, mentorship, and access to global business networks—empowering women entrepreneurs to scale their businesses through digital trade. A $50 Million Push for Women in Global Trade Backed by a $50 million commitment, the WEIDE Fund…

Canon Central and North Africa (CCNA), in collaboration with Women in Successful Careers (WISCAR), has officially launched the second season of its acclaimed ‘Women Who Empower’ programme—an initiative designed to equip women in Nigeria’s imaging and print industries with the skills, confidence, and mentorship needed to thrive. Launched at Hive by Zen, a cutting-edge creative studio founded by Canon Ambassador Emmanuel Oyeleke, the event welcomed 20 talented women selected for this season’s programme. The event also marked a celebration of the International Women’s Day 2025 theme: “Accelerate Action,” aligning with Canon’s mission to empower diverse communities and foster creativity. Building…

The University of Lagos (UNILAG) was a hive of scholarly and professional activity on Wednesday, April 23, 2025, as the Faculty of Management Sciences launched its Annual Academic Conference under the compelling theme:“Navigating Volatile Business Environments: Mitigation and Adaptive Strategies.” The two-day hybrid event—drawing participants from universities, businesses, and government institutions across Nigeria—provided a timely forum for exploring practical solutions to the increasing uncertainty and complexity of today’s business world. Opening Ceremony: A Call for Relevance and Impact Declaring the conference open, Vice-Chancellor, Professor Folasade Ogunsola, OON, FAS, commended the faculty for choosing a forward-thinking and solution-oriented theme. “I love…

Some of the most influential voices in Nigeria’s business ecosystem—and beyond—will gather for the highly anticipated 2025 edition of the Doing Business in Nigeria Conference (DBNC), scheduled for Saturday, April 26. This year’s theme, “Navigating the Storm: Thriving in a Transforming Nigeria,” reflects the event’s focus on thriving amidst economic shifts, global uncertainty, and rapid technological evolution. Among the key speakers are top industry leaders including Tonye Cole (Co-founder, Sahara Group), Fola Aiyesimoju (Group Managing Director, UAC of Nigeria Plc), Paul Onwuainibe (Executive Chairman, Landmark Group), JoEllen Gorg (Acting U.S. Consul General), and Iyinoluwa Aboyeji (Founder, Future Africa). These trailblazers…

Abuja is set to host a groundbreaking convergence of industry heavyweights as the inaugural “Sports Meet Nigeria” conference takes center stage at Cubana Hotel, Jabi on April 26, 2025. Bringing together key figures in sports, business, media, and government, the event will serve as a launchpad for strategic conversations, partnerships, and investments aimed at transforming Nigeria’s sports landscape into a powerhouse of economic and social impact. Uniting Forces for Sports-Driven Growth Conceived by Akeola Lukumanu Ayinde—a seasoned sports business advisor, FIFA player agent, boxing promoter, and CEO of ESEM Group—the conference promises high-energy panel sessions, keynote speeches, networking forums, and…

In a booming year for Nigeria’s financial sector, nine top banks earned a combined N14.26 trillion in interest income in 2024—more than double the N6.49 trillion recorded the previous year. The surge in bank earnings comes on the back of the Central Bank of Nigeria’s (CBN) aggressive monetary tightening, which saw the Monetary Policy Rate (MPR) climb to a record 24.75%, with commercial lending rates ranging from 28% to 35%. While the move significantly boosted banks’ revenues, it has also drawn sharp criticism from the real sector for worsening access to credit and straining business operations, particularly for manufacturers and…

The National Information Technology Development Agency (NITDA) has officially announced the maiden edition of the Startup Consultative Forum, scheduled to take place in Abuja on Monday, April 28, 2025. In a statement issued by Hadiza Umar, NITDA’s Director of Corporate Communications and Media Relations, the agency described the event as a pivotal step toward strengthening collaboration within Nigeria’s dynamic startup landscape. A Platform for Innovation and Policy Dialogue The Forum will bring together startup founders, innovators, investors, ecosystem enablers, and intermediaries in a shared space to help shape policies that drive growth, investment, and digital innovation. It’s more than just…

Nigeria stands on the threshold of transformation—powered by its greatest asset: its youth. With a median age of just 17, the country’s future is undeniably tied to the empowerment, education, and success of its younger generation. Recognising this, President Bola Ahmed Tinubu’s administration has unveiled a bold and visionary blueprint aimed at unlocking the potential of Nigerian youth through strategic empowerment programmes and economic reforms. The Nigerian Youth Academy (NiYA): Shaping Future Leaders At the heart of this vision is the Nigerian Youth Academy (NiYA)—a game-changing initiative designed to boost Nigeria’s human capital by offering training in digital skills, technical…

The Central Bank of Nigeria (CBN) has officially debunked claims circulating on social media about the introduction of new ₦5,000 and ₦10,000 naira notes, clarifying that no such denominations are being launched. The Viral Misinformation The false claim—originally shared via Facebook posts on April 2—alleged that the CBN would roll out the new notes starting May 1, citing the move as a strategy to ease Nigeria’s “cash challenges.” The posts featured: A fake CBN press release, falsely signed by a “Dr. Ibrahim Tahir Jr.,” claimed to be a deputy governor of the apex bank. Fabricated images of the supposed banknotes,…