Author: Gift Ifeanyi

The Nigerian Police, Lagos State Command, have formally charged Abiola Odutayo with reckless and careless driving in connection with the tragic death of Adetunji Opayele, co-founder of the Nigerian tech startup Bumpa. The incident occurred on March 4, 2025, at approximately 10:20 p.m. on Ozumba Mbadiwe Road, Victoria Island, Lagos, claiming the life of the 32-year-old entrepreneur. According to the charge sheet LA/301/2025, presented before Magistrate M.E. Owumi at the Tinubu Magistrate Court, Odutayo is accused of violating Sections 50(1) and 52 of the Lagos State Road Traffic Law, 2018. CSP Benjamin Hundeyin, the Police Public Relations Officer for the…

Nigeria’s retail sector is thriving, with numerous supermarket chains rising to prominence and redefining the shopping experience. While most supermarket chains in Nigeria operate fewer than 15 outlets, the industry has seen some leading brands focus on rapid expansion, setting the stage for a diverse retail landscape catering to different consumer needs. Here are the top 10 supermarket chains in Nigeria ranked by store count: Prince Ebeano – 8 storesPrince Ebeano, established in 2009, operates eight supermarkets in Abuja and Lagos. The chain offers a mix of local and international products and gained prominence after merging De Prince Supermarkets with…

U.S. wine exports to Nigeria have reached a record high of $7.8 million in 2024, marking a 65% increase from previous years and solidifying Nigeria’s position as the top African market for American wines. JoEllen Gorg, the acting U.S. consul general, made this announcement at a trade promotion event in Lagos, which was organized by the Foreign Agricultural Service of the U.S. Mission in collaboration with the California Wine Institute. The event brought together 18 California wineries and the Nigerian business community to foster stronger agricultural trade ties between the two nations. The wine tasting event featured over 160 award-winning…

In a move to deepen Nigeria-China relations and foster economic collaboration, the Nigeria-China Strategic Partnership (NCSP) recently hosted a delegation from the Z-Park Science and Technology Entrepreneurs Association. This visit marked a significant milestone in strengthening bilateral ties and exploring new avenues for technological cooperation. Leading the delegation was Mr. Shi Qilin, Executive Secretary-General of Z-Park Science and Technology Entrepreneurs Association. He was warmly received by NCSP Director-General, Mr. Joseph Tegbe. The discussions focused on scaling up Nigeria’s digital economy, infrastructure development, and fostering partnerships in science, technology, education, and cultural exchanges. Driving Innovation and Economic Growth The proposed collaboration…

In a landmark moment for Nigerian entrepreneurship, beauty, and culture, Dabota Lawson and Adeola Adeyemi, popularly known as Diiadem, showcased the power of African creativity on the global stage at the prestigious House of Lords in the United Kingdom. As key figures in The Global Rise of Nigerian Soft Power: Building Bridges Across Borders, they reinforced Nigeria’s growing influence in the beauty and creative industries. Both Lawson and Diiadem have successfully built thriving beauty brands—Dabota Cosmetics and Beauty By AD—revolutionizing industry standards and redefining African excellence. Their journey, marked by resilience and innovation, highlights how Nigerian beauty and fashion continue…

Technology experts are calling on Nigerian youths to embrace the digital revolution as a pathway to self-reliance and economic empowerment. Speaking at the Lagos Spring School in Digital Entrepreneurship and Digital Culture, industry leaders, academics, and entrepreneurs highlighted the vast opportunities technology offers young Nigerians to become job creators rather than job seekers. The event was convened by Prof. Tunde Ope-Davies, founder of the Centre for Digital Humanities at the University of Lagos and former aide to the Lagos State Governor. Discussions centered on bridging the digital skills gap, particularly among graduates in the humanities. According to Ope-Davies, launching innovative…

Lagos is positioning itself as Africa’s leading trade and investment hub, leveraging strategic policies, industrial growth, and support for small businesses to drive economic transformation. In an exclusive interview, Folasade Ambrose-Medebem, Lagos State’s Commissioner for Commerce, Cooperatives, Trade, and Investment, discusses her vision for economic growth, investment attraction, and entrepreneurship support. A Dynamic Career in Economic Development With over two decades of experience in finance, trade, sustainability, and corporate strategy, Mrs. Ambrose-Medebem has played pivotal roles in multinational corporations such as PwC, Ford, and Guinness Nigeria PLC. Her tenure at Lafarge Africa PLC saw her leading sustainability and corporate responsibility…

The asset finance leasing sector in Nigeria holds immense potential for driving economic development, yet it remains largely untapped. Tayo Adekoya, MD/CEO of Adept Lessor Limited, a Lagos-based asset finance leasing company, sheds light on the industry’s trajectory and opportunities. An Overview of Nigeria’s Finance Leasing and Asset Management Sector The finance lease industry in Nigeria has witnessed steady growth over the years, primarily due to increased financial literacy and awareness campaigns. Industry stakeholders, including Adept Lessor Limited, have played a key role in positioning leasing as a viable alternative to traditional financing. Reports from the Equipment Leasing Association of…

…Kola Oyeneyin Unveils $1 Million Fund to Support Entrepreneurs Nigeria’s food industry holds immense potential, but to truly unlock growth and global competitiveness, experts say entrepreneurs must gain access to affordable credit, embrace innovation, and leverage technology. Speaking at the Nigeria Food Summit 2025, which brought together industry leaders, culinary innovators, and policymakers, experts emphasized the urgent need for financial support and technological advancements to drive the sector forward. “The success of any industry is deeply tied to access to capital,” said Kola Oyeneyin, a seasoned investor and entrepreneur, during his keynote address. “The Nigerian food industry is brimming with…

For the first time in history, the combined wealth of Africa’s billionaires has surpassed the $100 billion mark, driven primarily by the soaring fortunes of Nigerian business magnates. According to the latest Forbes Billionaire List released in March 2025, Africa now boasts 22 billionaires with a collective net worth of $105 billion—an increase from $82.4 billion and 20 billionaires in the previous year. Nigeria’s Billionaire Influence Grows Despite persistent economic challenges across the continent, including currency devaluation and political instability, Nigerian billionaires have maintained strong positions in the rankings, with four representatives on the list. Dangote’s Refinery Fuels Unprecedented Wealth…

In a significant move to modernize Nigeria’s financial landscape, President Bola Ahmed Tinubu has signed the Investment and Securities Act (ISA) 2024 into law. This landmark legislation, which replaces the 2007 Investment and Securities Act, aims to bolster investor confidence, enhance regulatory oversight, and position Nigeria’s capital market for sustainable growth. The Securities and Exchange Commission (SEC), in a statement on Friday, described the new law as a transformative step that reinforces investor protection, improves market transparency, and aligns Nigeria’s financial regulations with international standards. Strengthening Market Regulation and Oversight The ISA 2024 cements the SEC’s role as the apex…

Uche Uzoebo, the Managing Director and Chief Executive Officer of SANEF Limited, is a trailblazer in Nigeria’s financial landscape. With over 20 years of experience in banking and financial services, she brings a wealth of expertise in digital payments, financial inclusion, and gender advocacy. Her mission is clear: to drive economic empowerment by making financial services more accessible to all Nigerians. A Legacy of Leadership in Financial Services Before taking the helm at SANEF, Uzoebo served as the Chief, Distribution & Stakeholder Engagement Officer, playing a pivotal role in expanding digital financial services and enhancing financial literacy. Her strategic leadership…

The Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) hosted its quarterly meeting and induction ceremony at the Delborough Hotel, Lagos, bringing together business leaders, government officials, and key stakeholders. Themed “Unlocking Business Opportunities Between Nigeria and Indonesia for the 21st Century,” the event aimed to foster stronger trade and investment collaborations between the two nations. A Platform for Economic Growth NICCI President, Ishmael Balogun, described the chamber as a vital platform for fostering partnerships, shaping impactful policies, and facilitating trade. He highlighted the enormous economic potential between Nigeria and Indonesia, emphasizing the limitless opportunities available for bilateral investment and trade.…

The Nigeria Food Summit 2025 brought together top industry leaders, culinary innovators, and policymakers at the Landmark Centre, Lagos, under the theme “Making Nigeria a Global Food Destination.” This landmark event gathered renowned chefs, food scientists, entrepreneurs, and key stakeholders dedicated to shaping the future of Nigeria’s food industry. The summit featured prominent personalities, including Anjola Awosika, Tolani Tayo-Osikoya (Diary of a Kitchen Lover), Hilda Baci, Ayo Bankole, and The Kitchen Amuse, who provided valuable insights into food business sustainability and cultural representation. Insightful Panel Discussions Attendees engaged in four dynamic panel sessions addressing critical industry topics: “The Past, Present,…

The Bank of Industry (BOI) has unveiled a groundbreaking initiative, the Project Guaranteed Loans for Women (GLOW) Fund, valued at ₦10 billion. This special intervention program aims to support female entrepreneurs across Nigeria, addressing the persistent financial inclusion gap that hinders many women-led businesses. A Bold Step for Women’s Economic Empowerment Announced by BOI’s Managing Director, Dr. Olasupo Olusi, in Lagos, the GLOW Fund seeks to empower women, recognizing their crucial role in Nigeria’s economic landscape. With over 23 million female entrepreneurs making up 41% of the country’s micro-businesses, Nigeria leads the world in women’s entrepreneurial activity. However, access to…

Baobab Nigeria, a leading microfinance institution dedicated to empowering small businesses and individuals, has unveiled an ambitious expansion strategy aimed at deepening financial inclusion across the country. At a high-profile press conference held at the Radisson Blu Anchorage Hotel, Lagos, the bank announced plans to raise fresh capital by April 2025 and expand its branch network from 38 to at least 100 locations by 2030. This bold initiative reflects Baobab Nigeria’s commitment to bridging financial gaps, fostering entrepreneurship, and driving economic growth. A Vision for Financial Inclusion The event gathered key stakeholders, including the Board of Directors, Baobab Group representatives,…

Juliet Ehimuan on DICE 3.0 and Africa’s Digital Future Dr. Juliet Ehimuan, founder of Beyond Limits, shares insights on how DICE 3.0 will empower African businesses to harness innovation for sustainable growth in the digital economy. What is DICE? DICE stands for Digital Innovation and Creative Excellence—an initiative by Beyond Limits that connects key players in Africa’s tech, business, and creative ecosystems. It serves as a collaborative platform for founders, investors, policymakers, and industry leaders to exchange ideas, form strategic partnerships, and drive economic growth. “Unlocking Africa’s digital potential requires a collective effort,” Ehimuan explains. “DICE provides the space for…

Sage Grey Finance Limited and its sister company, Sage Grey Technologies, have reaffirmed their commitment to empowering small and medium-sized enterprises (SMEs) through impact-driven financial and technological solutions. At a press briefing in Lagos on Tuesday, company executives outlined their ongoing initiatives to enhance financial access, drive digital transformation, and contribute to sustainable economic growth—aligning their efforts with the United Nations Sustainable Development Goals (SDGs) and Environmental, Social, and Governance (ESG) frameworks. UN SDG 8 focuses on promoting sustained, inclusive, and sustainable economic growth, fostering productive employment and decent work for all—a goal that Sage Grey is actively supporting through…

Access to reliable electricity remains a major challenge across Africa, with nearly half of Nigeria’s population still lacking access to power, according to the World Bank. To address this, innovative financing solutions are emerging to bridge the energy gap and drive clean energy adoption. One such initiative comes from Nigerian fintech Payhippo, which has rebranded as Rivy and secured $4 million in pre-Series A funding to focus on clean energy financing. The funding round, announced on March 26, was evenly split between $2 million in equity and $2 million in debt. Key Investors:✔ Equity Round: Co-led by EchoVC, through its…

In a strategic pivot, Nigerian fintech Payhippo has rebranded as Rivy, shifting its focus from SME lending to clean energy financing. The company also announced a $4 million pre-Series A funding round to accelerate its new mission, with an even split between $2 million in debt and $2 million in equity. This funding will expand Rivy’s clean energy financing solutions beyond Nigeria, enabling businesses to adopt solar power without the burden of upfront costs. Backing the Clean Energy Shift The investment round was co-led by EchoVC, a Nigerian venture capital firm known for funding 38 African startups, and Shell’s All…