Author: Gift Ifeanyi

Nigeria has taken decisive steps toward addressing its long-standing electricity challenges, as the Federal Executive Council (FEC) recently approved a fresh wave of investments aimed at strengthening the national grid, modernizing ageing infrastructure, and stabilizing supply for industries and households. The Minister of Power, Adebayo Adelabu, announced the approvals after a Council meeting presided over by President Bola Ahmed Tinubu at the Presidential Villa in Abuja. He described the decisions as “a new phase” in the administration’s drive to overhaul the power sector and deliver consistent, reliable energy to citizens. Strategic Transmission Upgrade At the heart of the approvals is…

The story of the Dangote Refinery is not just about oil and petrochemicals — it is about the triumph of private initiative over decades of government inertia. At its core, this project highlights how entrepreneurship, vision, and risk-taking can succeed where public institutions have consistently failed. Economist Joseph Schumpeter once described entrepreneurs as “agents of change” — those who revolutionize production and uncover new possibilities. History has proven him right. From Bill Gates’ digital revolution to Elon Musk’s futuristic ventures, innovation has always sprung from individuals bold enough to challenge convention. Africa’s own Aliko Dangote now carries that torch, showing…

Nigeria’s industrial future is being reshaped by two powerful technologies — edge computing and Human Machine Interfaces (HMIs). Schneider Electric, a global leader in energy management and automation, is placing these innovations at the center of its vision for Nigerian businesses, arguing that they are no longer “emerging tools” but critical engines of growth, resilience, and competitiveness. The Edge Advantage in a Challenging Environment In countries like Nigeria, where connectivity can be unreliable, edge computing has become indispensable. Instead of sending all data to the cloud, edge systems process and analyze information directly at the source — near machines or…

The Nigerian National Petroleum Company (NNPC) Limited, Sahara Group, and WAGL Energy Limited have announced a significant expansion of their joint venture fleet, which now exceeds 160,000 cubic meters in capacity. This development strengthens WAGL Energy’s standing as one of Africa’s foremost suppliers of Liquefied Petroleum Gas (LPG) and underscores Nigeria’s growing role in the continent’s energy transition. Driving Energy Access Across Africa In a statement released on its official X (formerly Twitter) handle, NNPC emphasized that the expansion aligns with its mission to deliver sustainable and affordable energy solutions to households, businesses, and industries. “WAGL Energy Limited, a joint…

Nigeria’s two largest telecom operators, MTN and Airtel, are making an ambitious push beyond voice and data into cloud and AI services, with nearly $400 million in new investments. Their goal: to capture a bigger slice of Nigeria’s fast-growing cloud market and stop billions of naira from flowing to overseas providers. Taking on the Global Giants Today, Nigerian startups and enterprises spend an estimated $600–$850 million annually on cloud services, but the bulk of that money goes to AWS, Microsoft Azure, and Google Cloud. For local firms billed in dollars, cloud costs have soared as the naira slid from ₦471/$…

At the 2025 Production and Manufacturing Business Summit, industry leaders emphasized that the true engine of business growth is not machinery, but people. Tara Fela-Durotoye, founder of House of Tara, called on Nigerian manufacturing firms to place continuous employee training at the heart of their strategy. “Every business must become a school,” she declared. “Technology and machines may drive efficiency, but it is people who deliver innovation, sustainability, and long-term impact.” Durotoye urged companies, especially small and medium-sized enterprises (SMEs), to develop structured training programmes that transform workplaces into talent academies. She stressed that training should never be seen as…

President Bola Tinubu commenced his two-nation diplomatic mission with a touchdown in Tokyo, where he will take part in the Ninth Tokyo International Conference on African Development (TICAD9). Nigeria Air Force 1, carrying the President, landed at Haneda International Airport around 12:55am local time, where he was warmly received by Hideo Matsubara, Japan’s Ambassador in charge of TICAD. This trip marks Tinubu’s first official visit to Japan since assuming office on May 29, 2023. In Yokohama, the President is expected to position Nigeria as a premier investment hub, engaging with Japanese business leaders already active in the country’s economy and…

The National Information Technology Development Agency (NITDA) and Alami Capital, in partnership with the Securities and Exchange Commission (SEC), have unveiled The LaunchPad at GITEX Nigeria 2025 — a pioneering investment and venture-building platform dedicated to accelerating Africa’s most promising women-led startups. Women account for 27% of business ownership in Africa and contribute 13% to the continent’s GDP. Yet, they secure only 7% of venture capital funding. The LaunchPad is designed to bridge this persistent innovation gap by channeling equity investment and strategic support into women-owned startups, ensuring they move from survival to scale. “Who gets funded determines what gets…

At Eko Hotels & Suites in Lagos on July 22, Nigeria’s leading technology professionals convened for ManageEngine ITCON 2025 Nigeria, a flagship forum exploring how enterprise IT strategy is becoming the backbone of modern business transformation. Organized by ManageEngine, the enterprise IT management division of Zoho Corporation, in collaboration with its Nigerian partner Tranter IT, the event drew senior executives, IT specialists, and decision-makers for a full day of high-level dialogues, practical workshops, and cross-industry networking. “ITCON is more than a tech showcase — it’s a bridge between global innovation and Nigeria’s business needs,” noted Lare Ayoola, CEO of Tranter…

Nigeria will take center stage in the global conversation on risk management when Vice President Kashim Shettima delivers the lead address at the 24th Annual International Conference of the Chartered Risk Management Institute of Nigeria (CRMI), scheduled for August 28–29, 2025, at the Eko Hotel and Suites, Lagos. Framed around the theme “Global Risks, Local Solutions,” the two-day gathering is designed to confront some of today’s most urgent challenges — climate disruption, financial instability, technological upheavals, and public health vulnerabilities — while spotlighting strategies that can be adapted to African realities. The conference also represents a defining moment for Kevin…

With mounting pressure to fund infrastructure and social development, Nigeria’s state governments are turning to a new tool designed to court global investors — a platform called Investopedia. The initiative, created by the Nigeria Governors’ Forum (NGF), will serve as a central catalogue where each state highlights priority projects, from healthcare and technology to power and transport. By packaging these opportunities in both print and digital formats, the NGF hopes to overcome long-standing barriers such as poor visibility of projects, fragmented information, and weak investor confidence. Investopedia is scheduled for unveiling on August 19 in Abuja, where governors will pitch…

The Federal Government is rolling out a new wave of economic support designed to strengthen smallholder farmers and micro-businesses across Nigeria. By the end of 2025, beneficiaries will begin accessing collateral-free, interest-free loans under the Government Enterprise and Empowerment Programme (GEEP). According to the programme’s National Manager, Hamza Ibrahim Baba, the initiative is part of FarmerMoni, one of GEEP’s flagship schemes, targeting Nigerians in poultry, aquaculture, livestock, and crop production. Each qualified farmer or trader could receive up to ₦100,000, with a six-month grace period before repayments begin. The loans, Baba explained during a stakeholders’ meeting in Kaduna, are structured…

Nigeria’s recent economic stability is drawing cautious praise from experts, but many citizens remain locked in hardship, highlighting the gap between macroeconomic progress and everyday realities. Former National Bureau of Statistics (NBS) boss, Yemi Kale, has warned that while the economy can now be described as “stable,” this does not mean ordinary Nigerians are feeling any relief. According to Kale, stability in economics simply means the turbulence has eased — inflation, currency, and GDP are no longer swinging wildly, allowing businesses and investors to operate with more confidence. But for families already burdened with high prices, stability may only mean…

Barely a year after Nigeria approved its historic wage increase, the promised relief for workers has been swallowed by inflation. In July 2024, President Bola Tinubu signed the Minimum Wage (Amendment) Act into law, raising the national minimum wage from ₦30,000 to ₦70,000 — a 133 percent jump and one of the largest pay boosts in the country’s history. The move followed months of tense negotiations with labour unions and was intended to shield workers from rising prices, a weakening naira, and economic decline. But new data suggests the gains have already been wiped away. A report by Dataphyte reveals…

When Yusuf Balikis Omobukola left Nigeria for Dubai in 2019 with only N37,000 in her pocket, her dreams seemed far bigger than her resources. Today, at just 31, she is the founder and CEO of Opeke Farms Nigeria Limited, a company whose herbal remedies, food products, and fashion line reach customers in over 60 countries. Her journey is one of sheer resilience, reinvention, and an unshakable belief that no circumstance is permanent. Survival in Dubai: From Cooking to Accommodation Business Arriving in the UAE with little money, Balikis leaned on a friend for shelter while searching for work. But soon,…

Nigeria’s small and medium enterprises (SMEs), which account for a huge share of the nation’s economy, may be missing out on the benefits of artificial intelligence (AI) despite its growing global impact, a new study has revealed. The research, carried out by the Enterprise Development Centre (EDC) of Pan-Atlantic University in collaboration with eTranzact International Plc, shows that while entrepreneurs are excited about AI’s potential, many lack the tools, skills, and infrastructure needed to put it into practice. According to the study, SMEs are already experimenting with easy-to-use applications such as Google Maps, ChatGPT, and Google Assistant. However, sectors like…

In Nigeria’s business landscape, women-led enterprises continue to face steep financing challenges, from limited access to loans to the high cost of sustaining their ventures. Recognizing these barriers, Stanbic IBTC Bank has introduced a suite of solutions designed to remove obstacles and give women entrepreneurs a fair chance to scale. At the center of this initiative is the Blue Blossom Account, a product crafted to ease financial pressures on women-owned businesses. Beyond providing day-to-day banking, the account eliminates current account maintenance fees, offers loans at concessionary rates, and gives access to business advisory clinics—all aimed at creating a supportive ecosystem…

Nigeria’s manufacturing industry is gaining new momentum as innovative financing models emerge to strengthen small and medium-scale enterprises (SMEs). At the heart of this transformation is Zedvance Finance, a non-bank financial institution increasingly recognized as a vital player in bridging funding gaps for manufacturers and supply-chain businesses. During the recently concluded Nigeria Manufacturing & Equipment/Nigerian Raw Materials Expo 2025, organized by the Manufacturers Association of Nigeria (MAN) in collaboration with the Raw Materials Research & Development Council (RMRDC), industry leaders highlighted how tailored financial solutions are redefining industrial growth. Dr. Segun Alabi, MAN’s Assistant Director of Corporate Affairs…

The Federal Government, in collaboration with the Cross River State Government, has reaffirmed its commitment to empowering small businesses by hosting the 8th Expanded National MSME Clinic in Calabar. Vice President Kashim Shettima, representing President Bola Ahmed Tinubu, inaugurated a new ICT Hub for MSMEs at the State Library Complex. The facility is designed to provide entrepreneurs with access to modern digital tools, training, and resources that can enhance productivity and innovation. Highlighting the government’s commitment, Shettima noted that the MSME Clinics serve as a direct link between entrepreneurs and government support systems. He further announced ₦250,000 unconditional grants for…

The Central Bank of Nigeria (CBN) has taken its message directly to the grassroots, using a public fair in Abeokuta to highlight how its latest policies and innovations are shaping livelihoods, boosting productivity, and driving inclusive growth. At the event, themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth, and Accelerated Economic Development,” the CBN stressed that its policies are not just about monetary stability but also about creating everyday value for Nigerians. Building Confidence in the Financial System Mrs. Hakama Sidi-Ali, Acting Director of Corporate Communications, explained that the Bank’s leadership under Governor Olayemi Cardoso has pursued…