Author: Gift Ifeanyi

Business Ventures Limited (Buvel), one of Nigeria’s leading private petroleum marketers, marked 50 years of unwavering commitment to integrity, service excellence, and customer satisfaction on Thursday. Founded in 1975 in Uromi by Prince Clement Kennedy Okoeguale, Buvel has grown steadily and now operates over 11 filling stations across Edo State, standing as a beacon of trust in the Nigerian petroleum industry. The golden jubilee celebrations were held simultaneously across all Buvel outlets and at the Founder’s residence in Benin City, drawing government officials, loyal customers, staff, community leaders, and well-wishers. The festivities included raffle draws at various filling stations, where…

The Abuja Chamber of Commerce and Industry (ACCI) has announced plans to create a dedicated centre aimed at helping businesses align their operations with human rights standards. Mr. Agabaidu Jideani, Director-General of ACCI, revealed this in an interview with the News Agency of Nigeria (NAN) in Abuja. He explained that the chamber has initiated collaboration with the National Human Rights Commission to establish the centre, which will focus on promoting responsible business practices that respect human rights. “Our goal with this centre is to ensure businesses operate in a way that respects the rights of all members of society,” Jideani…

Telecommunications company IHS Nigeria, through its affiliated NGO WeForGood International, has awarded N3 million grants each to six promising startups across Africa. These funds are intended to support innovative ideas focused on sustainability. The recipients were selected from the 2nd edition of the Sustainable Solutions Africa Project (SSAP), an initiative by WeForGood International aimed at fostering youth skills development in sustainability. Out of ten finalists who pitched their ideas, six startups were chosen for funding based on the strength and impact of their proposals. At the recent grant presentation ceremony in Lagos, Temitayo Ade-Peters, CEO of WeForGood International, highlighted the…

Entourage Integrated Trust, a dynamic player in Nigeria’s microfinance space, is setting its sights on national growth, preparing to widen its operations beyond the 29 states it currently serves. The move is part of the firm’s ongoing mission to strengthen financial inclusion and empower emerging enterprises across the country. In a recent release from its Lagos headquarters, the organization announced that it will launch its expansion efforts by conducting an in-depth feasibility study in Maiduguri, Borno State. “Access to finance can transform lives and revitalize entire communities,” said Seyi Asagun, CEO of Entourage Integrated Trust. “Reaching underserved areas like Maiduguri…

Two prominent Nigerian organizations are joining forces to uplift women entrepreneurs in the beauty industry with an exclusive grant and support program. Beauty Hut Africa, in partnership with Paystack, a top-tier fintech company, is rolling out a business empowerment initiative aimed at female-owned beauty ventures across Nigeria. The program promises funding up to ₦5 million, along with access to expert mentorship, targeted workshops, and a supportive entrepreneurial network. According to the announcement shared online by Beauty Hut, this initiative is more than just financial aid—it’s a comprehensive platform to elevate women building brands in makeup, skincare, fragrances, and haircare. “We’re…

Well-known Nigerian entrepreneur, Dr. Cosmas Maduka, recently sparked conversation with a bold statement about debt, credit, and wealth. Speaking on financial strategies, he revealed that Aliko Dangote, Africa’s richest man, also carries the title of Nigeria’s largest debtor. Maduka used the opportunity to highlight a lesser-known truth about wealth accumulation — that major financial players often operate heavily on credit. “Aliko Dangote tops the list of Nigeria’s debtors,” Maduka explained. “Yet, he remains the continent’s wealthiest man. Globally, the United States holds the highest debt, and we still regard it as the richest nation. That should tell you something about…

What began as a childhood ambition to practice law eventually evolved into a full-blown mission to transform businesses across Africa with artificial intelligence. Ayomide Odukoya, the innovative founder behind Posi Labs, never planned to end up in tech—but every pivot he made built the foundation for what would become one of the continent’s rising AI-powered sales agencies. A Creative Detour That Changed Everything Odukoya once pictured himself donning a wig and gown in a courtroom. But somewhere along the journey through university, a different passion sparked. “Photography was my escape during law school,” he reflects. “It started as a hobby,…

Seleem Adegunwa, CEO of Rite Foods Limited, has called on Nigerian students to harness the wealth of opportunities within the country’s dynamic business landscape. Speaking during a session with students at the Nigerian University of Technology and Management (NUTM), Adegunwa emphasized the importance of aligning entrepreneurial ventures with individual passion and personality. “Entrepreneurship demands commitment. Focus on ventures that suit your strengths and interests,” he advised. “Before diving in, gain real-world experience. Understand how businesses operate. That knowledge will shape your success.” Persistence Over Perfection Adegunwa noted that while young Nigerians possess the talent to thrive in any field, success…

Three young Nigerian entrepreneurs have been awarded a total of ₦5 million for their cutting-edge solutions aimed at tackling post-harvest losses in the agricultural sector. The prizes were presented at the SMEDAN Talent Hunt, an initiative spearheaded by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in partnership with Microvis Microfinance Bank and Baobab Microfinance Bank. The competition gathered young innovators from across the country, each presenting creative and practical ideas to a panel of experts and industry stakeholders. The event showcased the potential of youth-driven innovation to transform Nigeria’s food system and boost economic growth. Meet the…

Nigeria’s expanding presence in the global business scene took center stage at the upcoming Global Entrepreneurship Congress (GEC) 2025, with the country’s delegates gearing up to represent its vibrant entrepreneurial spirit on the international stage. According to Dr. Olawale Anifowose, Managing Director of Global Entrepreneurship Network Nigeria (GEN Nigeria), Nigeria’s participation in the GEC reflects its rising influence in the global innovation ecosystem. “GEC is more than just a summit—it’s a powerful growth platform where Nigerian entrepreneurs get to engage, connect, and compete on a global scale,” Anifowose said. He made these remarks during a pre-congress brunch organized at Tripoint’s…

President Bola Tinubu has officially inaugurated the new board of the Nigerian National Petroleum Company Limited (NNPCL), urging members to leverage their expertise in transforming Nigeria’s economy amid global economic uncertainties. Speaking in Abuja on Thursday, President Tinubu emphasized the importance of looking inward for solutions as global markets remain volatile, stressing that Nigerians are counting on the NNPCL to play a pivotal role in repositioning the country’s oil and gas sector. “I carefully selected this board, and it took some time to find the calibre of individuals you represent. You embody the best in the industry. I have high…

Nigerian autonomous systems startup Terrahaptix has secured a major $1.2 million contract, beating out a competing Israeli firm to provide advanced security solutions at two hydroelectric power plants in Nigeria. The five-year deal, awarded by private security firm Nethawk Solutions, involves deploying Terrahaptix’s cutting-edge AI-powered drones and solar-powered sentry towers to protect the critical infrastructure. Beyond the initial hardware purchase, the contract includes a lucrative recurring six-figure annual software subscription, guaranteeing a steady stream of revenue for the homegrown technology firm. “This is our largest contract to date and marks our entry into the hydroelectric sector,” said Nathan Nwachukwu, CEO…

Aliko Dangote, founder of the Dangote Group, has disclosed that the Nigerian federal government collects 52 kobo in revenue from every N1 generated by Dangote Cement. Speaking at the 2025 Taraba International Investment Summit on May 21, Dangote highlighted the significant fiscal contribution his company makes to the government. “It might surprise you to learn that the federal government, not even the states, earns more than half—52 kobo—of every N1 we generate from our cement business,” he said. Dangote emphasized that governments benefit from both private and public investments by creating a conducive environment for businesses to thrive and generate…

Seamfix Limited, a platinum sponsor of the 2025 Committee of Chief Information Security Officers of Nigerian Financial Institutions (CCISONFI) Annual Conference, has reaffirmed its commitment to combating insider fraud and strengthening workforce access control across Nigeria’s financial services sector. This commitment is anchored in its state-of-the-art identity and access management (IAM) solution. The conference, held in Uyo, Akwa Ibom State, gathered Chief Information Security Officers (CISOs), IT executives, and cybersecurity experts from financial institutions nationwide to discuss emerging threats and strategies to enhance resilience in Nigeria’s rapidly evolving digital landscape. At the event, Seamfix’s Group CEO and Co-founder, Chimezie Emewulu,…

The Nigerian government has lauded billionaire industrialist Aliko Dangote for prioritizing national development over potentially lucrative investments in global tech giants. This praise came during a tribute that highlighted the significance of the $19 billion Dangote Refinery—the world’s largest single-train oil refinery. At the Taraba International Investment Summit 2025 in Jalingo, Vice President Kashim Shettima, representing President Tinubu, celebrated Dangote’s visionary choice to invest in Nigeria rather than in international tech companies such as Microsoft, Amazon, or Google. “I want to celebrate the greatest black man in the last 300 years, who single-handedly established the largest single-train refinery in the…

The 2025 edition of the Expatriates Business Awards (TEBA) is scheduled for July 6 at the Grand Ballroom of the Oriental Hotel, Victoria Island, Lagos. The event aims to honor the remarkable impact of expatriates, foreign-owned businesses, and migrant communities on Nigeria’s thriving economy. At a recent press conference, Miss Odunola Abayomi, Director of Awards, highlighted the significance of acknowledging foreign nationals who have chosen Nigeria as their home and investment destination. “Unlike many conventional award platforms focusing primarily on Nigerian nationals, TEBA uniquely celebrates those who, though not born here, have planted roots and watched their investments flourish,” Abayomi…

Nigeria’s ambition to eradicate hunger by 2030 is at serious risk unless the government implements urgent policy reforms and mobilises significant private sector investment in its food systems, experts have cautioned. The warning came during a high-level Nutrition Dialogue held in Abuja, where stakeholders emphasized that achieving food security will require more than just public funding—it will demand a unified, strategic overhaul of Nigeria’s agri-food policies and infrastructure. Investment-Friendly Reforms Are Key Eyram Amovin-Assagba, Programme Officer for Agribusiness and Entrepreneurship at the African Union Development Agency (AUDA-NEPAD), stressed that attracting investments starts with creating the right policy environment. “To reach…

In a strong move to uplift women-led businesses in Nigeria, Dangote Cement Plc has launched a cash grant initiative to support female entrepreneurs in its host communities in Benue State, providing a much-needed boost to local economic activity. The empowerment programme, held in Gboko, saw selected women receive ₦100,000 each to strengthen and grow their businesses. The initiative is part of the company’s broader commitment to social investment and grassroots development. “This financial support is designed to help women expand their businesses by addressing their specific needs—whether it’s restocking inventory or upgrading equipment,” said Mr. Wakeel Olayiwola, Group Head of…

In the heart of Nigeria’s corporate circles—from Lagos to Kano—a powerful transformation is unfolding. Amid soaring inflation, volatile exchange rates, and global tensions, Nigerian business leaders are not shrinking back. Instead, they’re boldly rewriting the rules of growth. Welcome to the era of the reinvented Nigerian CEO. Thriving in Uncertainty: Confidence Beyond the Crisis Despite global instability, 61% of Nigerian CEOs remain optimistic about economic growth over the next year—23 points above the global average. This isn’t naive optimism; it’s a calculated confidence born from decades of navigating economic shocks and policy upheavals. For these leaders, uncertainty isn’t a barrier—it’s…

In just the first four months of 2025, Nigeria has spent a staggering $2.01 billion on external debt servicing—an alarming 50% surge compared to the same period in 2024. This figure now makes up over 77% of the country’s total foreign exchange outflows, revealing a growing strain on Nigeria’s already fragile financial landscape. A Debt Trap in the Making? The Central Bank of Nigeria’s latest international payments report paints a stark picture: between January and April 2025, Nigeria’s total foreign payments—covering debt service, remittances, and letters of credit—reached $2.60 billion. Of that, debt repayments alone consumed $2.01 billion. In comparison,…