Author: Gift Ifeanyi

Ogun State Governor, Prince Dapo Abiodun, has been celebrated with the 2025 Best Governor Award for Enterprise and Investment Promotion at the 5th edition of the SME Business Awards, recognizing his impactful role in supporting business development and entrepreneurship in the state. The award, presented during a ceremony in Lagos organized by the Association of Small Business Owners of Nigeria (ASBON), acknowledged Abiodun’s administration for actively championing economic inclusion and enabling the growth of micro, small, and medium-sized enterprises (MSMEs). During the event, Ogun State’s Investment Promotion and Facilitation Agency (OgunInvest) was recognized as the Most Dynamic State Investment Promotion…

Nigeria has fully repaid the $3.4 billion loan it received from the International Monetary Fund (IMF) during the height of the COVID-19 crisis, with the final principal payment concluded on April 30, 2025, according to The PUNCH. The loan, granted on April 30, 2020, under the IMF’s Rapid Financing Instrument, was part of an emergency measure designed to support Nigeria’s economy during the global pandemic. It was intended to cushion the country against challenges such as declining oil revenues, economic recession, and mounting fiscal pressure. Although the main debt amount has now been cleared, The PUNCH’s review of IMF data…

A new wave of positive change is sweeping through Nigeria as thousands of young people commit to principles of ethical leadership through an inspiring educational initiative. The Ethical Living Project, spearheaded by the Africa Capital Alliance Foundation in collaboration with Enactus Nigeria, has impacted over 2,000 students across 20 public secondary schools in Lagos State. The second edition of the project concluded with an exciting finale that featured a competitive essay contest. Leading the winners was Samuel Opadotun from Ebute Elefun Senior High School, followed by Ruben Oshisanya of Baptist Academy and Anuoluwapo Akeni from Jagunmolu Girls’ Senior Grammar School,…

ExxonMobil is preparing to invest $1.5 billion to enhance its offshore oil production in Nigeria, according to the nation’s petroleum regulatory authority. The investment, scheduled to take place between the second quarter of 2025 and 2027, will be directed toward the rejuvenation of the Usan oilfield. This field lies within Oil Mining Lease (OML) 138, situated roughly 70 kilometers off the coast of the eastern Niger Delta. Originally discovered in 2002 and approved for development in 2008, the Usan deepwater field began operations in 2012. It features about 34 subsea wells used for both production and injection, which are linked…

As part of a broader push to reshape its economy and support environmentally friendly initiatives, Nigeria is set to raise $186 million through green bond issuances before the year ends, according to Environment Minister Balarabe Abbas Lawal. Speaking to journalists in Abuja on Wednesday, Lawal revealed that a 50 billion-naira ($31 million) green bond will be offered in the coming two weeks, with a second tranche worth 250 billion naira scheduled for October. Lawal expressed confidence in the outcome, saying, “We’re working closely with partners including the European Union, the World Bank, the Ministry of Finance, and the Debt Management…

Once a promising vehicle for economic development in Nigeria’s capital, the Abuja Investments Company Limited (AICL) had long been forgotten—dormant, underutilized, and widely regarded as a missed opportunity. But in the last year, a combination of political will and strategic leadership has begun to breathe new life into the institution, positioning it at the center of President Bola Tinubu’s Renewed Hope Agenda. Formed in 1994 under the regime of General Sani Abacha, the AICL was originally designed to steer economic progress in the Federal Capital Territory (FCT). It operates across various sectors, with functions including business incubation, infrastructure development, and…

The Open, Distance and e-Learning Association of Nigeria (ODeLAN), in partnership with the National Open University of Nigeria (NOUN), is preparing to host the third edition of its international conference in Abuja. According to a press release issued on Wednesday by the Chairman of the Local Organizing Committee, Professor Chiedu Mafiana, the event is scheduled to take place from May 14 to 16, 2025, at the NOUN Conference Centre in Jabi, Abuja. This year’s conference will revolve around the theme “Adaptive Pedagogies for the Future of Education: Connecting Learners, Technologies and Communities.” Mafiana explained that the event will provide a…

In a push to drive inclusive economic development, DO Take Action—a nonprofit initiative aimed at mobilizing over a billion Africans for transformative change—is joining forces with the World Bank to host its first-ever Women Conference 2025 in Abuja. The event, set for Tuesday, May 13, 2025, carries the theme “Scaling Up Impact: Women’s Economic Empowerment Through Affirmative Procurement.” It will serve as a rallying point for a 30% procurement quota to be allocated to businesses owned or led by women across Nigeria. Expected to draw more than 700 attendees—including women entrepreneurs, procurement experts, development agencies, and civil society leaders—the conference…

More than 1,000 small and medium-sized enterprises (SMEs) from across Nigeria are expected to gather in Abuja for the 2025 Convergence Africa Conference, an initiative aimed at empowering entrepreneurs and reshaping business thinking in the country. Organized by Portal Limited, a non-governmental organization, the conference is scheduled for Thursday, May 8, 2025, and will bring together key players in the hospitality, food, fashion, and fitness sectors for an immersive and transformative business experience. Speaking at a media briefing in Abuja, Patience Olusuyi, CEO of Portal Limited, highlighted the importance of SMEs forging sustainable partnerships with multinational corporations to strengthen their…

The 2025 Enugu Tech Festival, organized by the Enugu State Government, kicked off on Wednesday, marking what is being hailed as the largest technology conference ever held in Nigeria. In his opening remarks, Dr. Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy, described the festival as a pivotal moment for the nation’s digital economy. He highlighted that the event, which attracted thousands of youth from across Nigeria, is a major step forward in Nigeria’s goal to build a thriving digital ecosystem. Tijani commended Enugu State, under the leadership of Governor Peter Mbah, for its progress, noting that the…

The OKOBI Students Club is an innovative initiative designed to bridge the gap between academic learning and practical entrepreneurship for students in Imo State. This forward-thinking program serves as a dynamic training hub where students can develop essential entrepreneurial skills alongside their academic pursuits. By empowering students with the tools and support they need, OKOBI encourages the creation of student-run group business ventures that focus on sustainable economic growth. Despite Imo State having the highest literacy rates in Nigeria, with an impressive 96.43% literacy rate overall and 83.5% for women, the state faces a significant employment challenge. In 2020, it…

The Federal Government has introduced the Nigeria Virtual Privacy Academy, a new digital platform aimed at enhancing data protection and privacy practices within both the public and private sectors. The announcement was made by Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, at the 8th annual conference of the Network of African Data Protection Authorities (NADPA), which commenced in Abuja on Tuesday. Strengthening Data Protection Capabilities During his address, Dr. Tijani emphasized that the academy is an integral part of Nigeria’s broader strategy to leverage the digital economy. It aims to equip key stakeholders with the necessary tools…

As the global energy industry converges in Houston for the 2025 Offshore Technology Conference (OTC), Nigeria’s Solewant Group is making waves with cutting-edge innovations that promise to redefine offshore operations and industrial infrastructure across Africa and beyond. From May 5 to 8, energy experts and executives from around the world are gathering in Texas—and Solewant is proudly representing Africa’s rising influence on the global stage. Under the leadership of Group Managing Director Solomon Ewanehi, the company is unveiling groundbreaking technologies and strategic capabilities that span five key subsidiaries. These include advanced pipeline systems, industrial coatings, integrated water technology, and technical…

The Director-General of the National Board for Technology Incubation (NBTI), Engr. Kazeem Kolawole Raji, has underscored the indispensable role of strategic management in achieving growth and success across various sectors—including business, governance, security, and even everyday life. Speaking during a courtesy visit by the leadership of the Institute of Strategic Management of Nigeria (Chartered) (ISMNC) to the NBTI headquarters in Abuja, Engr. Raji emphasized that strategy has become the foundation of effective leadership in the modern world. “Strategy is no longer optional,” he noted. “It is essential not just in boardrooms, but in universities, homes, and politics. I earned a…

Peter Obi, the 2023 Labour Party presidential candidate, has urged the Nigerian government to make immediate and strategic investments in human development if the country is to reverse its deepening poverty crisis. In a post shared on X (formerly Twitter) on Tuesday, Obi expressed concern over the worsening economic conditions confronting millions of Nigerians. Citing recent data from the World Bank, he noted that poverty levels are expected to rise steadily through 2027 unless meaningful interventions are made. Refocusing National Priorities Obi emphasized that genuine progress will only come when the country begins to prioritize essential services like education, healthcare,…

A new alliance between Nigerian software engineer Ayorinde Akindemowo Olayiwola and US-based cybersecurity specialist Raphael Nyonyoh is setting a new standard for small business security in West Africa. Their joint effort centers on the recently launched Cybersecurity Threat Intelligence Platform (CTIP)—a tech-driven solution designed to empower small and medium-sized enterprises (SMEs) with robust cyber defense tools. Currently in its pilot rollout, CTIP is already gaining momentum among SMEs in Nigeria and Ghana. The platform leverages artificial intelligence to monitor digital environments, identify vulnerabilities, and prioritize threats—all in real-time. Its automation capabilities simplify the response process, easing the pressure on limited…

Across Nigeria, a wave of entrepreneurial learning is transforming secondary education. More schools are embedding student-led businesses into their curricula—giving learners the opportunity to build real ventures, earn revenue, and develop vital life skills. These programs not only promote teamwork and financial literacy but also prepare students for future business success. Here are five leading schools where students don’t just learn about business—they live it. 1. Loyola Jesuit College, Abuja At Loyola Jesuit, entrepreneurship is built into every term. Students are grouped into teams and tasked with identifying market gaps, developing business plans, and launching real products or services—ranging from…

A new addition to Houston’s culinary map is serving up bold Nigerian flavors with a modern twist. Suya Outpost, the brainchild of tech executive-turned-restaurateur Wayne Iluyomade, has opened in Humble, Texas, with a fresh take on West African cuisine presented in a fast-casual format. Tucked into a busy strip center alongside diverse businesses—from a sushi bar to a cigar lounge—Suya Outpost is bringing cultural flavor to an otherwise conventional location. The restaurant’s mission is simple: deliver rich Nigerian taste with the speed and style of popular chains like Chipotle. Located at 9502 North Sam Houston Parkway East, Suya Outpost joins…

Across the globe, one truth rings louder with each passing day: entrepreneurship is the fuel powering progress. Whether in Silicon Valley or Shanghai, it is the entrepreneurial spark that ignites innovation, drives economic growth, and transforms nations. And now, all eyes should turn toward the next frontier of this revolution — Africa. At the heart of this awakening is Nigeria, a country bursting with untapped energy, talent, and ambition. As a speaker at the Legatum Center for Development and Entrepreneurship at MIT, I had the opportunity to speak on the role of innovation in emerging markets. I walked away certain…

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced the creation of 90,160 jobs for unemployed youths and the empowerment of over 116,000 entrepreneurs across the country in the first quarter of 2025. This impressive achievement is attributed to targeted empowerment programs and strategic partnerships aimed at strengthening Nigeria’s Micro, Small, and Medium Enterprises (MSMEs) sector. SMEDAN’s Q1 performance report, released in Abuja on Tuesday, highlighted the agency’s continuous commitment to fostering growth in the entrepreneurship ecosystem. Empowering the Entrepreneurial Landscape SMEDAN’s efforts were bolstered by strong collaborations with both private sector partners and members of the…