Author: Gift Ifeanyi

The U.S. International Development Finance Corporation (DFC) has greenlit a new wave of investments totaling $3 billion across 22 development initiatives globally—positioning Nigeria and other emerging economies to benefit from enhanced infrastructure, economic empowerment, and sustainable growth. This funding, approved in the first quarter of the year, aims to uplift small and medium-sized businesses, accelerate clean energy solutions, and promote financial stability across developing markets. Boosting Nigerian SMEs Through Strategic Financing At the heart of the initiative is a $20 million loan to Loinette Capital, a financing provider focused on helping SMEs across Sub-Saharan Africa. This capital will be used…

Access Bank, in collaboration with leading consultancy firm Deloitte, has launched a strategic initiative designed to equip Small and Medium Enterprises (SMEs) in Nigeria with the skills, insights, and tools needed to thrive in a challenging business environment. The effort, marked by a recent Business Clinic in Lagos, aims to enhance access to finance, provide vital business intelligence, and open up market opportunities for SMEs navigating Nigeria’s dynamic economic landscape. Empowering Entrepreneurs for a Profitable and Resilient Future Speaking at the clinic, Abiodun Olubitan, Group Head of SME Banking at Access Bank, emphasized the program’s core goal: helping businesses become…

Despite Nigeria’s high-risk environment, the nation’s insurance sector continues to underperform, with fewer than two million Nigerians holding active insurance policies—a figure that exposes the industry’s struggle with relevance, trust, and accessibility. This sobering statistic was a key talking point at Investment Summit 1.0, a gathering organized by Investment Info Hub Nigeria Ltd in collaboration with Cornerstone Insurance Plc, under the theme “Investments in Insurance: Opportunities for Financial Growth.” The event brought together stakeholders to explore how insurance could play a more impactful role in supporting financial development in Nigeria. The Real Barriers: More Than Just Poverty Tunde Lawuyi, head…

Around the world, micro, small, and medium-sized businesses (MSMEs) grapple with a wide array of obstacles that hinder their ability to thrive. These range from operational limitations to broader external disruptions. Among the most affected are women and young entrepreneurs, who often face even steeper hurdles such as scarce funding options, restricted access to markets, and a lack of support infrastructure. Tackling these challenges calls for thoughtful, targeted policy measures that not only build capacity but also align with the Sustainable Development Goals (SDGs), enabling inclusive development and entrepreneurial success. Creating durable and responsive supply chains is key to helping…

The National Office for Technology Acquisition and Promotion (NOTAP) is calling on entrepreneurs in Nigeria’s South East to explore franchising as a viable strategy for long-term business success. This recommendation was made during a one-day awareness workshop held in Abuja, where NOTAP introduced newly developed Franchising Guidelines tailored for stakeholders from the South East region. Dr. Obiageli Amadiobi, NOTAP’s Director General, was represented at the event by Mr. Emeka Orji, who leads the agency’s Corporate Planning Department. He emphasized that franchising is a well-established international business approach with significantly lower risk levels. “At its core, franchising involves a legal agreement…

Since taking office, President Bola Ahmed Tinubu has initiated a bold wave of reforms aimed at stabilizing and transforming Nigeria’s economy. His administration is pushing for fiscal discipline, diversifying economic foundations, and ensuring broader participation in growth through inclusive policies. Overhauling the Tax System for a Stronger Fiscal Framework At the core of Tinubu’s economic reform plan lies an ambitious effort to reconstruct Nigeria’s tax environment. Determined to establish a transparent, equitable, and efficient tax framework, his administration formed the Presidential Committee on Fiscal Policy and Tax Reforms. The committee’s task includes simplifying tax codes, expanding the taxable population, plugging…

Nigeria has deepened its partnership with France through a strategic initiative aimed at boosting the country’s creative industry. The agreement secures access to concessional funding, which could increase from an initial €35 million to a potential €100 million. The announcement came during the eighth Ministerial Press Briefing Session held at the National Press Centre in Abuja, where the Minister of Arts, Culture, and the Creative Economy, Hannatu Musawa, shared details of this transformative collaboration. Musawa emphasized that the funding goes far beyond infrastructure—it represents a significant step toward nurturing creative talent, generating employment, and elevating Nigeria’s status as Africa’s creative…

As Nigeria’s youth continue to turn to entrepreneurship in response to economic headwinds, former Vice President Atiku Abubakar has offered a heartfelt message encouraging self-reliance, integrity, and ethical business conduct. Addressing the 2025 graduating class of the American University of Nigeria (AUN), Atiku emphasized the importance of independent thinking and value-driven entrepreneurship. He urged the graduates to forge their own paths rather than depending on government support or shortcuts to success. “Let your business be rooted in integrity. Stand on your own. Don’t depend on government patronage,” he advised. Atiku’s message arrives at a crucial moment as many young Nigerians…

In a notable show of encouragement for youth-led businesses, Peter Obi, former Anambra State Governor and 2023 Labour Party presidential candidate, has provided financial support to five outstanding young entrepreneurs in Kaduna State to help grow their ventures. The beneficiaries were selected during the SMEs HUB Programme, a weekend business showcase organized by Hassan Adamu, aimed at celebrating youth innovation and entrepreneurship in the historic city of Kaduna. Obi, represented by Dr. Yunusa Tanko, National Coordinator of the Obidient Movement Worldwide, served as the event’s special guest. The program highlighted the creativity and ambition of Nigeria’s younger generation and emphasized…

Governor Peter Mbah of Enugu State and former Labour Party presidential candidate Peter Obi are among the prominent figures expected to participate in the 2025 Domestic Tourism Conference, scheduled for September 5–6 in Enugu. Chief Ben Etiaba, Chairman of the Board of Trustees at Jands Travel Business School (JTBS)—the organizers of the event—confirmed this after commissioning the conference’s planning committee at an event in Enugu. This year’s conference is themed: “The Future of Domestic Tourism in Nigeria: Celebrating Our Arts and Culture,” and it seeks to elevate the profile of local tourism, especially across the Southeast. Etiaba noted that the…

At the recently held 9th edition of the DStv Media Sales (DMS) and Media Independent Practitioners’ Association of Nigeria (MIPAN) conference in Lagos, industry leaders focused on the critical roles of optimisation, collaboration, and innovation within the marketing mix. The conference, themed “Optimise,” gathered marketing and media professionals to explore emerging trends, challenges, and innovative strategies shaping the media sector’s growth and profitability. Opening the event, Doris Ohanugo, Executive Head of DStv Media Sales Nigeria, described the conference as a platform that continually advances media, marketing, and innovation. She noted, “Though the theme ‘Optimise’ sounds straightforward, it carries immense significance.…

The momentum is building for the 2025 edition of the Nigeria Prize for Science, with an unprecedented 112 submissions now officially handed over to the Prize’s Advisory Board to begin the adjudication process. Widely regarded as Africa’s most prestigious and lucrative science award, the prize offers a substantial reward of $100,000 USD. This year’s theme—“Innovations in ICT, Artificial Intelligence (AI) and Digital Technologies for Development”—aims to uncover breakthrough solutions that will accelerate Nigeria’s digital economy. Sponsored by the Nigerian LNG Limited (NLNG), the competition attracts entries from scientists both within Nigeria and across the globe, recognizing innovations that drive industry…

As Nigeria approaches the 300th meeting of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) scheduled for May 19-20, fresh inflation data places the bank’s firm monetary stance under the spotlight. Although a slight decline in inflation offers some relief, it is generally expected that the CBN will maintain its high Monetary Policy Rate (MPR) of 27.5%, a level not seen in decades. Economists argue that the CBN’s tight monetary policies have only had limited impact on Nigeria’s stubborn cost-push inflation. The main drivers—high fuel prices, ongoing insecurity disrupting supply chains, and heavy dependence on imports—are structural problems…

Investor confidence surged on the Nigerian Exchange Limited (NGX) last week, fueled by easing inflation and strong first-quarter corporate results. The all-share index (ASI) rose 0.9%, closing at 109,710.37 points, while market capitalization expanded by N613.99 billion to N68.95 trillion — marking a robust 6.59% return year-to-date. This positive momentum is attributed to the dip in April inflation to 23.71%, which has lifted sentiment ahead of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee meeting scheduled for May 19–20. Investors are optimistic about potential policy shifts that could further stimulate economic growth. Sector Performance Highlights: Consumer Goods: Led the…

President Bola Ahmed Tinubu has called on Nigerians to embrace their diversity as a foundation for national stability and accelerated development. Speaking on Sunday in Rome, President Tinubu received members of the Catholic Bishops’ Conference of Nigeria and delivered a powerful message urging leaders at all levels to work diligently for the welfare of the people. “If we use our diversity not for adversity but for prosperity, the country’s hope lies in stability and progress,” the Muslim president stated. Marking a historic moment, Tinubu noted the significance of being Nigeria’s president during the inauguration of a new pope in Rome.…

For many African professionals and business owners, the digital economy isn’t just an idea—it’s their new reality. Whether applying for remote jobs, registering businesses on global platforms, or setting up payment accounts like Stripe, one simple detail often determines if you get through smoothly: your phone number. A number with a +234 prefix can sometimes trigger verification hurdles or skepticism on U.S.-based platforms. But with a U.S. phone number, those barriers vanish. Suddenly, you’re seen as ready to do business—no matter where you are in the world. It’s more than just digits; it’s your key to better conversions, smoother onboarding,…

Craftsmen and small business owners in Kano State have raised alarm over ongoing power outages, warning that the unstable electricity supply is severely hampering their operations. On Sunday, May 18, 2025, several affected residents shared how the power challenges are reducing productivity and driving up their operational costs. Malam Idi Ali, a welder from Kofar Ruwa, revealed he spends about N5,000 daily on fuel to keep his generator running due to the unreliable power supply.“We hardly get power for two hours a day. I’ve lost customers because I can’t meet deadlines. It’s becoming unbearable,” he lamented. Similarly, Amina Rabiu, who…

Lagos shimmered with elegance and joy over the weekend as renowned journalist, publisher, and media mogul Dele Momodu commemorated his 65th birthday with an opulent celebration attended by Nigeria’s elite. Held on Victoria Island, the event drew an impressive guest list of top dignitaries—including royalty, business moguls, state governors, and foreign diplomats—all gathered to pay tribute to one of Nigeria’s most iconic media figures. Clad in a majestic black traditional outfit, Momodu made a grand entrance, accompanied by his elegant wife Bolaji and their son, to thunderous applause from the crowd. A Night of Tributes, Surprises, and Star Power One…

Entrepreneurs, investors, and expatriates in Nigeria can now enjoy quicker, hassle-free access to government services through a newly launched online platform by the Federal Ministry of Interior. The digital service—part of the government’s broader public service reform initiative—streamlines applications for Nigerian citizenship, business permits, and expatriate quotas, eliminating long wait times and excessive paperwork. What You Can Do on the Platform: Whether you’re establishing a business, onboarding foreign experts, or seeking formal recognition as a Nigerian citizen, this new platform simplifies the process with: Accelerated approval for business permits User-friendly access to expatriate quota services Completely online application and tracking…

Two years into President Bola Ahmed Tinubu’s administration, the much-anticipated N200 billion intervention fund for manufacturers and small businesses has yet to deliver meaningful results—despite its promise to revive sectors strained by fuel subsidy removal and currency reforms. Initially unveiled in July 2023, the intervention was meant to channel N75 billion to large-scale manufacturers and N125 billion to micro, small, and medium-sized enterprises (MSMEs), providing access to subsidized credit and cushioning the impact of the president’s economic policies. Stalled Progress and Delayed Relief Although the administration began disbursing N50,000 nano grants in April 2024, larger loans—up to N1 million for…