Author: Gift Ifeanyi

Franca Obialor, branding entrepreneur and CEO of A’lor Consults Limited, has spotlighted multiple taxation as one of the greatest obstacles facing small and medium-sized enterprises (SMEs) in Nigeria. Speaking during the PR Tea Conference hosted by Hustle Africa in Ikeja, Lagos, Obialor expressed concern over the growing tax burden placed on businesses, warning that it’s increasingly becoming a barrier to growth, innovation, and sustainability for many entrepreneurs. “The reality is that multiple taxes significantly increase our operational costs,” she said. “This strain makes it difficult for many businesses to survive, let alone thrive.” Navigating Challenges Through Strategic Branding Despite the…

President Bola Ahmed Tinubu has praised Tijani Babatunde Folawiyo, Chairman and CEO of Yinka Folawiyo Group, for his outstanding contributions to Nigeria’s economic development, lauding his visionary leadership in sectors like energy, manufacturing, and digital infrastructure. In a heartfelt tribute marking Folawiyo’s 65th birthday, the President described him as: “A beacon of Nigeria’s entrepreneurial excellence and a steadfast advocate for national progress.” A Legacy of Impactful Investments President Tinubu acknowledged Folawiyo’s instrumental role in job creation and attracting private capital to the country, thanks to his strategic investments and leadership across key sectors of the economy. Through his work with…

A groundbreaking study has unveiled how deeply rooted cultural practices and traditional systems continue to shape the remarkable entrepreneurial success of the Igbo people of Southeastern Nigeria. Presented by Eze Simpson Osuagwu, a seasoned academic and researcher, the study—titled “The Igbo Entrepreneurship System: A Model for Stakeholder Capitalism”—was showcased at the Centre for the Study of African Economies, St. Catherine’s College, University of Oxford. Key Findings from the Study Drawing from a sample of 2,000 entrepreneurs across major Nigerian cities including Aba, Onitsha, Nnewi, Lagos, and Abuja, Osuagwu’s research established a clear connection between culture and economic development. Using Propensity…

In a bold step to reshape the narrative about Nigeria and celebrate the nation’s resilient spirit, the National Orientation Agency (NOA) has partnered with media advocate and Founder of the Akin Fadeyi Foundation, Akin Fadeyi, to launch the inspiring initiative, “Nigeria Happens to Me.” This project seeks to highlight the untold stories of everyday Nigerian entrepreneurs who, despite overwhelming odds, continue to thrive in business, creativity, and innovation. A New Narrative for Nigeria Sharing his thoughts on the project via his official Facebook page, Akin Fadeyi remarked: “Nigeria can happen to us in many ways. While our national story includes…

Prominent human rights lawyer and activist, Femi Falana (SAN), has issued a passionate call to Nigerian youths, urging them to rise and take back the country from the older generation. Speaking at the 6th Annual Youth Leadership Conference held at the University of Lagos, themed “RISE 2025 – Resilience, Innovation, Social Responsibility and Entrepreneurship,” Falana emphasized the need for young people to reclaim Nigeria and redefine its future. “We Lived with Dignity—You Deserve the Same” Addressing the audience, Falana lamented the current state of the nation, noting the stark contrast between his generation’s experience and what young Nigerians are facing…

In a bold move to combat youth unemployment and economic stigmatization, the Ebonyi State Government has unveiled plans to train and empower over 200 artisans through a newly restructured skills acquisition and entrepreneurship development program. The initiative, dubbed “Skill-Up Ebonyi,” was announced by the Commissioner for Skills Development and Job Creation, Mr. Okwu Oko-Udu, during a media briefing in Abakaliki, the state capital. Changing the Narrative for Ebonyi Youth Commissioner Oko-Udu emphasized that the scheme, approved by Governor Francis Nwifuru, aims to eliminate the negative stereotype that many Ebonyi youths are street hawkers. “This empowerment scheme is a strategic step…

The Republic of Guinea has extended a strategic invitation to Nigerian businesses to participate in ongoing mega projects valued at over $20 billion, signaling a new era of economic cooperation between the two West African nations. This invitation was made by Guinean Ambassador to Nigeria, Siaka Cissoko, during a media briefing held at the Guinean Embassy in Abuja on Sunday. Opportunities for Nigerian Expertise Ambassador Cissoko encouraged Nigerian companies to seize investment opportunities in Guinea’s booming mining, infrastructure, and industrial sectors—areas where Nigerian firms have shown notable expertise and competitive strength. “As I speak to you, there is an ongoing…

Dr. Stephen Akintayo, Chairman of GTEXT Holdings, has called on Nigerian governors to shift from political posturing to purposeful action by forging direct partnerships with entrepreneurs to drive job creation and economic growth. Speaking at the Business Growth Conference for CEOs held in Abuja over the weekend, Akintayo emphasized the need for governors to create truly enabling environments for businesses to thrive. “Governors must settle down and focus on developing their states,” he said. “Enough of jumping around after the president. They should hold quarterly meetings with entrepreneurs to understand real business challenges and develop solutions together.” “Increased Funding, Yet…

Prof. Barth Nnaji, former Minister of Power and CEO of Geometric Power Group, has called for an urgent and strategic investment in Nigeria’s natural gas sector, alongside the reinstatement of suspended Power Purchase Agreements (PPAs)—moves he says are essential to achieving Nigeria’s ambition of becoming a $1 trillion economy. Speaking at the 2025 Bullion Lecture, themed “Architecting the Energy Sector for Nigeria’s $1 Trillion Economy Vision,” Nnaji emphasized that Nigeria’s economic future is directly tied to its energy policy and execution. “We have the ninth-largest gas reserves in the world, yet we struggle to power our 24 gas-fired plants. Meanwhile,…

In a significant boost to Nigeria’s digital economy, the Japan International Cooperation Agency (JICA) and the Federal Government of Nigeria have entered into a groundbreaking agreement, providing a $30 million grant to establish Start-Up Hubs in Abuja. This project marks Japan’s continued dedication to fostering economic cooperation and sustainable development across Africa. Project Overview The initiative is divided into two key components: Start-Up Hub Development: A $9.9 million investment that will see the creation of a cutting-edge facility managed by the National Information Technology Development Agency (NITDA). This hub will provide modern digital technologies and collaborative spaces designed to nurture…

In a landmark move to empower young entrepreneurs, the Nasarawa State Government has launched a N1 billion funding initiative aimed at supporting business start-ups and promoting self-reliance among the youth. Governor Abdullahi Sule made the announcement during the graduation ceremony for the first batch of 50 participants in Lafia, the state capital. A Collaborative Effort The funding initiative is a collaborative effort between the Nasarawa State Government and Interweave Solutions International. Both parties contributed N500 million each, bringing the total fund to a substantial N1 billion. Governor Sule highlighted that the initiative aligns with the goals of President Bola Tinubu’s…

With the soaring cost of imported goods and a weakening naira, Nigerians are increasingly turning to made-in-Nigeria products, not just by choice—but by necessity. What used to be a preference for foreign brands has now become a financial impossibility for many, sparking a quiet revolution in consumer behavior. This evolving trend was spotlighted in a recent episode of the Drinks and Mics podcast, hosted by Ugodre Obi-Chukwu, with co-hosts Arnold Dublin-Green and Tunji Andrews. The episode featured Oler Oladele, founder of MoneyWit Club, who offered a compelling look at how Nigerian families are adjusting to a tighter economy. “The Real…

As electricity grid failures and skyrocketing fuel prices continue to plague Nigeria, Arnergy, a solar energy startup backed by Bill Gates’ Breakthrough Energy Ventures, is answering the call with an ambitious plan to expand access to solar power nationwide. The company has just closed an $18 million Series B round, including a $15 million extension and a $3 million raise in 2023. Why Demand Is Surging The demand for solar systems in Nigeria has exploded in recent years—especially following the May 2023 removal of fuel subsidies that had long cushioned local consumers from global petrol prices. Since then, petrol costs…

MTN Nigeria celebrated International Women’s Day (IWD) with an impactful event that provided valuable insights to over 250 women entrepreneurs. Themed ‘Scaling with Impact | Strategies for Building Resilient Businesses’, the event aimed to equip women business owners with the tools and knowledge needed for sustainable growth and success. Held at the MTN Rooftop in Ikoyi on March 28, 2025, the event attracted businesswomen, thought leaders, and industry professionals for an enriching day of discussions on business resilience, technology adoption, and overcoming entrepreneurial barriers. Harnessing Technology for Growth One of the event’s standout sessions was led by Lynda Saint-Nwafor, Chief…

In a bold move to deepen economic ties and attract foreign investment, the Nigeria-China Strategic Partnership (NCSP) recently hosted a high-level delegation of 35 top Chinese business leaders in Abuja. The visit reflects the growing momentum of the comprehensive strategic alliance between Nigeria and the People’s Republic of China. Facilitated by Pan-African Expansion Industrial Nigeria Ltd, the visiting delegation represents various sectors including science and technology, mining, construction, real estate, healthcare, tourism, and e-commerce. The team was warmly received by the Director-General of NCSP, Joseph Olasunkanmi Tegbe. Speaking on behalf of the delegation, Jason Zhu emphasized their keen interest in…

As Nigeria’s capital market wrapped up the first quarter of 2025 on a bullish high, a group of powerful women emerged as key players — not just for shattering glass ceilings, but for holding multi-billion naira stakes in some of the nation’s most valuable companies. With the Nigerian All-Share Index (ASI) climbing by 697.68 points to 105,660.64 — a 0.66% gain — and trading volumes rising nearly 5% to reach 3 billion shares, Q1 2025 reflected renewed investor confidence. Market capitalization soared past ₦66.2 trillion, rewarding major shareholders, particularly these six financially astute women whose investments span across finance, healthcare,…

In a bold stride toward solidifying its financial strength, Wema Bank Plc has officially kicked off a N150 billion capital raise through a Rights Issue, aligning with the Central Bank of Nigeria’s (CBN) latest directive on bank recapitalization. The initiative, announced by the bank’s board, will see the issuance of 14,286,785,417 ordinary shares at N10.45 per share, available to existing shareholders on the basis of two new shares for every three currently held as of the qualification date, March 5, 2025. The offer opens on April 14, 2025. Positioning for Long-Term Growth This capital raise isn’t just about meeting regulatory…

Former President Olusegun Obasanjo has stated that poverty should not be a reality in Nigeria, given the country’s abundant natural and human resources. Speaking during a dinner hosted in his honor by the Abia State Government on Friday at the Government House in Umuahia, Obasanjo expressed deep concern over the mismanagement of Nigeria’s vast wealth. “Nigerians have no business with poverty because God has given us all that we need,” Obasanjo declared. “If we are mismanaging what God has given us, we have no one else to blame but ourselves.” Praise for Governor Otti’s Leadership The former president commended Governor…

Mohammed Idris, Nigeria’s Minister of Information and National Orientation, recently reaffirmed the country’s commitment to strengthening economic ties with France at the Nigeria Business Forum in Paris. During his address, he showcased Nigeria’s vast business opportunities, emphasizing the government’s ongoing efforts to attract sustained foreign direct investment. The forum was part of Nigeria’s broader strategy to promote its economic reforms, market potential, and investor-friendly climate. Idris highlighted the nation’s transformative journey under President Bola Ahmed Tinubu, spurred by the Renewed Hope Agenda—an eight-point strategic plan focused on unlocking Nigeria’s economic potential. “These historic reforms are building a more competitive, transparent,…

Fitch Ratings has upgraded Nigeria’s credit rating to B, maintaining the country’s position in the speculative-grade category. The upgrade reflects improved confidence in the government’s commitment to reforms, which have significantly reduced near-term risks to the country’s macroeconomic stability. Fitch stated that the upgrade was based on the government’s robust commitment to policy reforms introduced since the adoption of more orthodox economic policies in June 2023. These measures include the liberalization of the exchange rate, monetary policy tightening, and the removal of fuel subsidies, which were seen as major steps in stabilizing Nigeria’s economy. “The upgrade reflects increased confidence in…