Author: Gift Ifeanyi

Nigeria’s House of Representatives has opened a fresh investigation into how the Nigerian Electricity Regulatory Commission (NERC) and other key players managed a ₦59 billion loan from the Central Bank of Nigeria (CBN) meant for the National Mass Metering Programme (NMMP). The probe, led by the House Joint Committee on loan disbursement and utilization, also spotlighted Meristem Wealth Management Limited and NESI Stabilization Strategy Ltd (NESI-SSL) over their approval of an arrangement allowing a private firm to collect 0.5% of annual revenue from electricity distribution companies until 2030. Committee Chairman Uchenna Okonkwo revealed in a weekend statement that the NMMP,…

The cost of living in Nigeria is climbing daily. Food, transport, rent, school fees, fuel — everything has doubled. Salaries, however, have either stayed the same or lost their real value due to inflation and the weakening naira. No wonder more Nigerians are searching for ways to earn in U.S. dollars, a currency that holds value no matter the storms at home. Imagine this: ₦100,000 barely stretches for a week today, but $10,000 equals over ₦15 million. What if there was a way to legally earn that kind of money — without relocating or breaking any laws? One fast-growing path…

In a business climate where online visibility often determines survival, Nigerian entrepreneur Hannah Olawumi is driving a bold initiative to close the digital literacy gap holding back many small and medium-sized enterprises (SMEs). Through her venture, MyDigitalBrandBox (MDBB), Olawumi is reimagining how entrepreneurs approach technology by offering simplified, accessible solutions. From brand strategy and social media management to website development and hands-on virtual training, MDBB is giving business owners the tools to confidently navigate the digital economy. “Most entrepreneurs understand they need an online presence, but the technical hurdles discourage them,” Olawumi explained. “Our goal is to break down those…

In Nigeria’s evolving knowledge economy, a bold experiment is unfolding — a new digital hub designed to connect ideas with industry, research with real-world impact, and students with global opportunities. Launched in August 2024, the FUOYE Innovation Hub has now taken a powerful step forward with its online platform — innovation.fuoye.edu.ng. The site offers more than just a digital showcase; it is a gateway where innovators, researchers, and entrepreneurs can plug into an ecosystem built to transform ideas into scalable solutions. Redefining the Role of a University Rather than remain within the boundaries of academia, FUOYE is positioning itself as…

Tony Elumelu, celebrated entrepreneur and philanthropist, has once again taken center stage in Africa’s leadership space after being named Man of the Year 2025 at the 7th Leadership Excellence Awards (LEEX). The recognition, decided through a nationwide public vote, saw Elumelu claim a commanding 1,093,475 votes, leaving fellow nominees Allen Onyema with 634,855 votes and A. A. Rano with 185,397 votes trailing behind. Now in its seventh year, LEEX has evolved into one of Nigeria’s most trusted measures of influence, honoring individuals who embody transformational leadership and national development. Driving Africa’s Economic Renaissance Elumelu’s latest accolade is a nod to…

For the first time in decades, business leaders in Aba say the city is finally regaining its commercial heartbeat. Once notorious for collapsed roads, toppled trucks, and suffocating neglect, Nigeria’s leather and textile hub is now experiencing a revival under the leadership of Governor Alex Otti. During a visit to Otti’s country home in Nvosi, executives of the Association of International Traders, led by Edmund Igwe, and the Ultimate Importers Association, represented by Iroegbu Agu, expressed gratitude for what they described as a long-awaited transformation of Aba’s infrastructure. “Today, trucks and containers no longer tumble over each other as before.…

President Bola Tinubu has called on Nigerians abroad to channel their skills, networks, and capital back into nation-building, declaring that “Nigeria is on the rise again.” Speaking in Yokohama, Japan, during an engagement with members of the Nigerian community on the sidelines of the Tokyo International Conference on African Development, Tinubu emphasized that the government’s reforms were already stabilizing the economy and opening fresh avenues for investment and innovation. “Some of our citizens may remain abroad for personal or economic reasons, and that is their right,” Tinubu said. “But Nigeria’s growth requires your contribution. If you stay away, who will…

For over a decade, Nduka Udeh has been on the frontlines of African trade, helping thousands of entrepreneurs push their products beyond local borders. From food processors in Aba to fashion designers in Lagos, he saw a common thread: brilliant products, but broken systems. The calls kept coming:“Customs seized my goods again.”“Shipping delays wiped out my profits.”“I can’t get buyers abroad.” After hearing the same story from more than 5,000 businesses, Udeh knew the problem wasn’t talent—it was logistics. In 2025, he put his money where his mission was: $200,000 of personal investment into a world-class warehouse in Delaware, USA.…

In a country where prosthetics are often either unavailable or unaffordable, a breakthrough from Uyo, Akwa Ibom, is offering new hope. Nigerian firm Immortal Cosmetic Art has developed the Ubokobong Bionic Arm—a hyper-real prosthetic designed to both function and blend seamlessly with African skin tones. Unlike most static prosthetics on the local market, the Ubokobong Arm operates with electromyography (EMG) signals, responding to brain activity to move like a real hand. The innovation has already attracted attention not only across Nigeria but also in the United States, Britain, Australia, and Ghana. “They are not just static, but functional and human-like.…

In Baltimore, the aroma of Nigerian spices is drawing crowds—not from a restaurant, but from the side of a food truck. Behind the wheel and the stove is Jemimah Yakubu, better known as Chef Mimah, who swapped her path to law school for a passion that began in a college dorm room. While studying to become an attorney, Yakubu often cooked for friends. Their enthusiastic feedback sparked a realization: her culinary skills could be more than a hobby. In 2023, she hit pause on her legal ambitions to launch Mimah’s African Cuisine, a food truck serving favorites like Jollof Rice…

Nigeria is sitting on a massive $227.5 billion in untapped oil and gas reserves, according to new data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Valued at an average benchmark of $65 per barrel, the reserves dwarf the nation’s 2025 budget of ₦54.9 trillion—by more than 600%. Yet, despite this enormous potential, Africa’s largest oil producer is still running a deficit of ₦13.08 trillion in its fiscal plan, relying heavily on borrowing to fund government spending. Budget Strains vs. Idle Wealth Nigeria’s 2025 budget earmarks: ₦13.64 trillion for recurrent expenditure ₦23.96 trillion for capital projects ₦14.32 trillion for debt…

In Osun State, the Federal College of Education (FCE) Iwo has thrown open its gates for the 2025/2026 academic session, but this is no ordinary admission drive. The institution is pushing a bold vision that fuses technology with entrepreneurship, reshaping how future teachers are trained in Nigeria. Unlike traditional colleges that simply churn out classroom instructors, FCE Iwo is positioning its students as educators who can also innovate, create jobs, and thrive in a digital-first economy. The registrar, M.A. Yusuff, explained that the refreshed curriculum is designed to produce graduates who are as comfortable navigating ICT tools as they are…

Nigeria’s equities market is experiencing its strongest rally in nearly two decades, with transactions on the Nigerian Exchange Limited (NGX) surging to N6 trillion between January and July 2025. This performance not only doubles the entire value of equities traded in 2024 (N3 trillion) but also marks the highest level since 2007. July stood out as a defining month. Investors exchanged a massive N1.815 trillion worth of equities, making it the busiest month on record. Domestic players dominated the scene, responsible for over 91 percent of trades (N1.669 trillion), while foreign investors contributed just 8 percent (N1.459 billion). The NGX…

When Aliko Dangote recalls his early days in business, he doesn’t speak first of billions but of small daily earnings. Trading cement in the 1990s gave him about 7,000 naira a day—enough to buy his first Mercedes and lay the foundation of an empire. Few could have imagined that those modest profits, funded by a $3,000 loan from his uncle, would one day evolve into Africa’s largest private refinery. Dangote’s entrepreneurial instincts were shaped long before his own ventures began. His great-grandfather amassed wealth trading peanuts and other commodities with colonial Britain, creating a family tradition of risk-taking in markets…

Nigeria’s solid minerals industry is gaining momentum, with rising production of gold, limestone, and bitumen fueling job creation and local economic growth. The milestone was highlighted in Abuja as the Miners Association of Nigeria (MAN) announced the 10th edition of Nigeria Mining Week, a flagship gathering that has shaped the nation’s mining trajectory for nearly a decade. Scheduled for October 15–17, 2025, the conference will run under the theme “Mining from Progress to Global Relevance.” Organized by MAN in collaboration with PricewaterhouseCoopers (PwC) and VUKA Group, the event is expected to host more than 3,500 participants, including global investors, policymakers,…

Nigeria’s agricultural sector is set to take the spotlight globally as preparations intensify for the 7th Nigeria International Agriculture Expo (NIAEXPO 2025), scheduled to hold in Abuja. The event is expected to highlight the nation’s agribusiness capacity, attract investments, and strengthen trade relations across continents. According to Mr. Abiodun Olaniyi, Project Coordinator of NIAEXPO, the 2025 edition themed “Showcasing Nigeria’s Agricultural Potential on a Global Stage” will go beyond exhibitions to serve as a hub for innovation, knowledge-sharing, and international collaboration. He noted that the expo would spotlight solutions to challenges that have long limited the sector’s growth, including post-harvest…

Every groundbreaking movement starts with a simple question: “What if things could be better?”For years, Nigerian exporters asked this question but never found the answer. That was until Nduka Udeh, an export consultant who has spent more than a decade guiding African entrepreneurs, decided to stop listening to the same complaints and start rewriting the story. He had worked with over 5,000 businesses. He had seen first-hand the brilliance of African products—from cassava flour and shea butter to handmade jewelry and contemporary fashion. But he had also watched those products rot in local markets while their owners drowned in endless…

Nigeria’s business leaders rolled out the red carpet in Lagos as they welcomed a high-powered delegation from the California–Africa Climate and Economic Partnership, signaling the start of a bold new chapter for trade and collaboration across film, technology, renewable energy, and climate innovation. At a private dinner, executives spotlighted the stabilizing effect of ongoing reforms and pointed to priority sectors ripe for foreign direct investment. Figures shared by PwC’s Kolawale Odunlami underscored the momentum: Nigeria’s stock market capitalization has climbed beyond ₦90 trillion, oil output has improved to 1.55 million barrels per day, and reserves now top $40 billion. “The…

For many small businesses in Nigeria, growth in the digital space has been both a blessing and a risk. With WhatsApp shops, online payments, and email invoicing now part of everyday trade, entrepreneurs are increasingly exposed to cyberattacks they are often ill-equipped to handle. This digital dilemma is what sparked a new partnership between Kaspersky, one of the world’s leading cybersecurity firms, and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). Both organizations have signed an agreement to give Nigeria’s SMEs the kind of cybersecurity guidance that has long been missing from mainstream business support. Instead of treating…

For Nigeria’s Gen Z, podcasts are no longer just background noise during commutes—they’ve become compact, real-world classrooms driving entrepreneurial growth. With production costs low and expert voices widely accessible, young founders now see podcasts as a practical substitute for crash courses in business. Instead of passively consuming, they’re actively applying what they hear: from testing marketing strategies over the weekend to refining pricing models the same day. The appeal lies in how podcasts deliver bite-sized, up-to-date knowledge that feels less like theory and more like a playbook. Here’s how they’re making it work: From stories to strategiesEpisodes featuring startup founders,…