Author: Gift Ifeanyi

MPC Decision Sparks Outcry from SMEs The Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27.5% for the third consecutive time in 2025, drawing sharp criticism from small business owners who describe the policy as “crippling” to economic growth. Despite June’s inflation easing to 22.22% (from 22.97% in May), commercial bank lending rates remain above 30%, making credit inaccessible for most micro and medium enterprises (MSMEs). Voices from the Business Community 1. “Suicidal to Borrow at 30%+” Mohammed Damakka Abubakar (L and Z Ltd): “No SME can survive these rates. We need single-digit loans or a dedicated intervention fund.” Fumen Makama (Fumtee…

Nigeria’s Energy Game-Changer Aliko Dangote, Africa’s richest man, announced at the Global Commodity Insights Conference that his $19 billion Dangote Refinery has transformed Nigeria into a net exporter of refined petroleum products, marking a seismic shift in Africa’s energy landscape. Key Milestones  1 Million Tons of PMS Exported The refinery shipped 1 million metric tons of gasoline to international markets between June and July 2025—averaging 20,000 tons daily. First-ever gasoline exports to Asia (90,000 tons in June) via trading giant Mercuria.  Jet Fuel Goes Global Supplied 1.7 million barrels of jet fuel to US ports via six vessels. Secured contracts with Saudi Aramco, the world’s largest oil company.  Disrupting Europe’s $17B African Fuel Trade OPEC confirms Dangote’s…

Africa’s Fintech Revolution Goes Global Ten African financial technology companies have been named among the World’s Top Fintech Companies: 2025 by CNBC and Statista, cementing the continent’s status as a hub for digital finance innovation. The list, dominated by startups from Nigeria, Egypt, Kenya, and South Africa, reflects Africa’s leadership in payments, alternative finance, and wealth tech—key drivers of financial inclusion. The African Fintech Elite Nigeria: Payment Giants & Unicorns Interswitch Founded: 2002 | Segment: Payments Achieved unicorn status in 2019 after Visa acquired 20%. Powers 70% of Nigeria’s digital transactions. Moniepoint Founded: 2015 | Segment: Payments Became a unicorn in 2024 ($110M funding round). Serves 1.5M+ businesses across West/East Africa. Opay Founded: 2018 | Segment: Payments Unicorn…

Ending the $2.3B Manual Accounting Crisis Nigerian SMEs lose N15–25 billion yearly to tax errors and inefficiencies from spreadsheet-based accounting (PwC/NBS 2023). Leaftally, a Made-for-Africa cloud platform, debuts to automate payroll, tax compliance, inventory, and reporting—saving businesses 67% time and N2.3M annually in penalty avoidance.  Exclusive Launch Webinar: July 25, 2025 | 10:00 AM WAT | [Register FREE Here] Why Nigerian SMEs Need Leaftally  72% of SMEs say manual accounting stifles growth. 61% make tax filing errors due to disconnected systems. $2.3B productivity drain from outdated processes. Leaftally’s Solution: FIRS-Compliant Tax Engine Auto-updates VAT, PAYE, WHT tables. Pre-loaded Naira formatting & tax rules.  Offline Resilience Works without internet; syncs when reconnected.  Naira Precision…

Nigeria’s Corporate Sector Embraces ESG Mandate The Nigeria Employers’ Consultative Association (NECA) has intensified efforts to equip businesses with Environmental, Social, and Governance (ESG) competencies through specialized training programs, responding to mounting pressure for sustainable business practices globally. Key Initiatives 1. Training of Trainers (ToT) Workshop  July 8–9, 2025 | Lagos 20 NECA staff and partners trained under the ILO’s LEADER Programme, a global initiative to advance corporate sustainability. Curriculum tailored for Nigerian business realities, covering: ESG reporting frameworks (e.g., GRI, NGRC). Climate risk mitigation. Ethical supply chains. 2. Step-Down Training for 52 Companies  July 10–11, 2025 Multinationals and SMEs from diverse sectors engaged in hands-on ESG strategy sessions. Case…

A New Era of UK-Nigeria Tech Partnership London Mayor Sadiq Khan made history as the first sitting Mayor of London to visit Africa, choosing Lagos—Africa’s fastest-growing tech hub—as the focal point for a high-stakes trade mission. The visit signals Britain’s strategic pivot to Nigeria’s booming digital economy and aims to unlock cross-border innovation, investment, and talent exchange. Key Highlights from the Visit 1. “Yabacon Valley”: Lagos as Africa’s Silicon Coast  Khan’s Praise: Dubbed Lagos’ Yaba tech cluster “Yabacon Valley,” likening it to global innovation epicenters. Highlighted Nigeria’s “ambition, energy, and great ideas” as untapped resources for UK partnerships.  Why Lagos? Home to 5,000+ startups, including 7 unicorns (Flutterwave,…

From Vision to Venture: The Kinzbell Story Joseph Ovensehi, CEO of Kinzbell Global Limited and founder of the Ovensehi Group, is a serial entrepreneur reshaping Nigeria’s real estate and tech landscapes. In an exclusive interview, he shares insights into his journey, the evolution of Kinzbell Homes, and the future of smart living in Africa’s largest economy. Bridging Gaps in Nigeria’s Real Estate Market Q: What inspired Kinzbell Global and your focus on short-term rentals? Ovensehi: “Nigeria’s hospitality sector lacked premium, tech-driven short-let solutions. Kinzbell Homes was born to merge luxury, security, and smart technology—catering to business travelers, tourists, and young professionals seeking flexible living spaces.”…

Lagos, Nigeria – July 17, 2025 A Trailblazer’s Sudden Passing Abiola Olaniran, the visionary founder of Gamsole and a pivotal figure in Africa’s tech ecosystem, passed away unexpectedly on July 16, 2025, at age 36. His private burial ceremony, held the same day, was attended by family and close associates. The news has sent shockwaves through the African tech community, where Olaniran was revered as a pioneer and mentor. From Imagine Cup to Mobile Gaming Revolution Olaniran’s journey into tech stardom began when he won the Microsoft Imagine Cup in 2010, a global student competition that showcased his engineering brilliance. By 2012, he founded Gamsole, one…

The Activate Success International Foundation celebrated a decade of impact at its 10th annual Youth Entrepreneurship and Empowerment Summit (YEEP’25), equipping over 80 young Nigerians with grants, tools, and mentorship to scale their businesses. The event, held in Abuja, drew 2,300+ registrations, including National Youth Service Corps (NYSC) members, and featured high-profile sponsors from government, private sector, and international organizations. Key Empowerment Highlights  Financial Grants: 50 youths received ₦500,000 each. 3 outstanding entrepreneurs awarded ₦1 million each (sponsored by Nestlé Nigeria). 37 beneficiaries secured ₦500,000 each from Deputy Speaker Benjamin Kalu. UNDP pledged ₦500,000 each for 5 MSMEs.  Skills & Equipment Support: 40 tailors received brand-new sewing machines donated by Vodi Tailors CEO Seyi Adekunle. 8 NYSC members awarded ₦500,000 each by Crown Luxury Properties. ₦1.2 million granted…

Abuja, Nigeria – The Diplomatic Correspondents Association of Nigeria (DICAN) will convene its first Diplomatic/Security International Conference on July 23, 2025, bringing together top diplomats, security experts, and media leaders to shape Nigeria’s foreign policy and security strategies. Key Highlights: Theme: Aligning Nigeria’s 4D foreign policy doctrine (Democracy, Development, Demography, Diaspora) with contemporary security and diplomatic challenges. Participants: Foreign Affairs Minister Yusuf Tuggar, EU Ambassador Gautier Mignot, Egyptian Ambassador Mohamed Fouad, service chiefs, and global envoys. Awards: 20 honorees, including ex-President Goodluck Jonathan (peace diplomacy), Brig. Gen. Buba Marwa (anti-drug reforms), and Air Peace’s Allen Onyema (aviation diplomacy). Why It Matters: Policy Synergy: The conference bridges gaps between security action, diplomatic engagement, and media accountability. Global Threats: Addresses transnational issues like terrorism, cyber…

Nigeria’s next economic frontier may lie across the Atlantic. While traditional trade with Europe, Asia, and North America dominates, the Caribbean and Latin America (LATAM)—a $600 billion consumer market—offer untapped potential for Nigerian exporters. For CEOs, entrepreneurs, and SMEs, here’s how to leverage this opportunity. Why LATAM & the Caribbean? Market size: 33 countries, 600M+ consumers (World Bank). Complementary economies: Demand for Nigerian agriculture, tech, tourism, and creative exports. Cultural ties: Strong Afro-diaspora links, especially in the Caribbean. Key Sectors for Nigerian Businesses 1. Agriculture & Agribusiness Opportunity: LATAM imported $700M+ cocoa products in 2021 (ITC), but Nigeria’s share is minimal. Solution: Export processed cocoa, cassava flour, and palm oil; partner with…

Lagos, Nigeria – Termii, Africa’s leading Communications Platform as a Service (CPaaS) provider, is set to host the fourth edition of its flagship Termii Elevate conference on August 2, 2025, at The Zone Tech Park, Gbagada, Lagos. With the theme “The Future of Virtual Communications in Africa,” the event will convene tech leaders, startup founders, telco executives, and investors to explore AI-driven messaging, scalable communication infrastructure, and the next wave of digital engagement across the continent. What to Expect at Elevate 4.0 Role-based breakout sessions for developers, business leaders, and tech enthusiasts Fireside chats with top industry disruptors AI x Innovation Pitch Competition for early-stage startups Live product showcases from Termii and partners like Wetech Hybrid…

Africa’s creative industries are set to take center stage as NECLive returns for its 13th edition from November 28-30, 2025 in Lagos. The landmark conference, organized by BHM and ID Africa, will adopt a new multi-venue format at the prestigious Landmark Centre under the theme “Powering Africa Through Creative Enterprise.” A Decade of Impact Since 2013, NECLive has become West Africa’s premier creative industry platform, achieving: 500+ expert speakers 100,000+ physical attendees 100 million+ global audience reach 1,000+ deals facilitated Coverage across 50+ countries Africa’s Creative Boom The conference comes at a pivotal moment for Nigeria’s creative sector: Nollywood now ranks…

West Africa is poised for a major shift in its fuel market as Nigeria’s NMDPRA prepares to host a landmark regional conference in July 2025. The two-day event in Abuja, organized with S&P Global Commodity Insights, aims to create a unified framework for fuel trading across the region. Building a Regional Fuel Market The conference will focus on key initiatives to transform West Africa’s energy landscape: Establishing common fuel standards and specifications Creating transparent pricing benchmarks Improving cross-border data sharing Strengthening regional refining capacity Aligning regulatory policies across nations Why This Matters Currently, West Africa’s fuel market remains fragmented, with varying…

The Association of Advertising Agencies of Nigeria (AAAN) has expanded its membership, inducting eight new agencies at its 52nd Annual General Meeting (AGM) and Congress. The event, held over three days, also celebrated emerging industry talent and honored the legacy of a late leader. New Members Join AAAN The newly inducted agencies—spanning traditional, experiential, and digital marketing—signal AAAN’s push for broader industry representation. While their names weren’t disclosed, their inclusion reflects the association’s commitment to growth and innovation. Rising Stars Recognized Five young professionals received the “Rising Star Award” for their creativity and potential: Ayoade Omolola (X3M Ideas) Chidera Okpala (SO&U) Faruq Alimi (Noah’s Ark) Deborah…

Nigeria loses an estimated $80 billion annually to illicit financial flows (IFFs), a major drain on the economy that undermines tax revenue and development. The Federal Inland Revenue Service (FIRS) is stepping up efforts to combat this menace with a national conference aimed at raising awareness and improving inter-agency collaboration. Why the Conference Matters Prof. Bolaji Owasanoye, former ICPC chairman and now FIRS’s Proceeds of Crime and Illicit Financial Flows (POCM-IFF) director, explains that IFFs occur through three key channels: Commercial transactions (60% of losses) – e.g., fake invoicing, profit shifting. Corruption (e.g., embezzlement). Criminal activities (e.g., fraud, drug trafficking). Most attention focuses on…

Abuja, July 2025 – The Central Bank of Nigeria (CBN) will convene its Monetary Policy Committee (MPC) on July 21-22 amid shifting economic indicators. This meeting comes as Nigeria’s inflation rate shows its first meaningful decline in over two years. Key Developments: June inflation dropped to 22.22% from May’s 22.97% Food inflation moderated to 21.97% year-on-year MPC previously held benchmark rate at 27.5% in last meeting Analysis: Economists suggest the marginal inflation improvement may prompt cautious optimism, though the MPC is expected to maintain its hawkish stance. “The slight dip is encouraging, but core inflation remains stubbornly high,” noted Capitalfield Economic…

Chicago, IL — Behind the hard hats and blueprints, America’s construction industry hides a startling divide: while the top builders pocket nearly 30% profit margins, nearly a quarter of firms are losing money on every project. These revelations come from a groundbreaking new study that cracks open the financial ledgers of hundreds of construction companies. The Profit Gap You Can’t Ignore The National Association of Home Builders’ 2025 financial benchmarking study uncovered these harsh realities:  The Elite (Top 25%) 29.7% gross profit margins 17.7% net profits Strategic cost controls in labor and materials  The Strugglers (Bottom 25%) 17% gross margins (near break-even) -1.4%…

Lagos, Nigeria – Eight years after President Muhammadu Buhari took office promising economic diversification through technology, Nigeria’s tech ecosystem stands at a critical juncture. While landmark initiatives like the Startup Act propelled growth, persistent infrastructure gaps and policy contradictions reveal unfinished business for the Tinubu administration. The Buhari Tech Scorecard: Hits & Misses  The Wins • Startup Act 2022: Created Africa’s most ambitious startup support framework, including: 5-year tax holidays for eligible startups ₦10B seed fund for early-stage ventures Special visa categories for tech talent • Digital Economy Surge: ICT contribution to GDP grew to 17.47% (2023) 500+ new fintech licenses issued Launch…

Lagos, Nigeria – The Oriental Hotel’s grand ballroom erupted in applause on May 17 as serial innovator Ayobami Jayeoba received the Artificial Intelligence Adoption Award at the prestigious Lagos Entrepreneur Awards. The honor recognizes Jayeoba’s groundbreaking work in transforming Nigeria’s commercial landscape through intelligent automation. The AI Disruptor Jayeoba’s BamBam Automation Limited has become synonymous with business transformation through:  Smart Process Automation Reduced operational costs by 40% for financial institutions Cut document processing time from hours to minutes  Predictive Analytics Engine 92% accuracy in forecasting inventory needs for retailers Slashed logistics companies’ fuel costs by 25%  Real Estate Revolution AI-powered valuation…