Author: Gift Ifeanyi

A coalition of female entrepreneurs is urging the government and financial institutions to eliminate barriers that hinder women’s economic participation, calling for urgent reforms to boost financial inclusion and business opportunities. During a virtual Women’s Economic Empowerment Media Conversation, organized by Gatefield, a non-governmental organization, speakers highlighted major challenges such as gender-insensitive policies, restrictive loan conditions, limited access to property, and a lack of awareness about available financial opportunities. The discussion was inspired by a recent report from the Bill & Melinda Gates Foundation, where women expressed their aspirations for financial independence and greater economic influence. Gender Bias and Financial…

In Nigeria, the transition from education to employment remains a significant challenge for new graduates. With an increasing number of young people entering the job market, it is imperative for the government to implement policies that ensure meaningful employment opportunities. Additionally, fostering small and medium-sized enterprises (SMEs) and supporting emerging entrepreneurs are crucial steps toward economic growth and stability. Here are key strategies to achieve these goals. Enhancing Education and Skill Development To bridge the gap between academic training and employment, the government must focus on improving education and skill development. Aligning school curricula with market demands and industry standards…

Nigeria’s indigenous pharmaceutical companies are expanding their production capacity to fill the void left by departing multinationals, meeting both domestic and regional drug demands despite persistent regulatory and economic hurdles. Leading the expansion are firms like Emzor Pharmaceuticals Industries, which has invested in new plants, and Fidson Healthcare, which has leveraged government incentives and research collaborations to increase the production of essential medicines. Green Life Pharmaceuticals has also achieved a significant milestone by launching Nigeria’s first WHO pre-qualified antiretroviral drug manufacturing plant, positioning the country as a key player in Africa’s pharmaceutical industry under the African Continental Free Trade Agreement…

Baobab Nigeria, a leading microfinance bank, has announced that it has disbursed nearly N500 billion in loans to micro, small, and medium-sized enterprises (MSMEs), reinforcing its commitment to financial inclusion and business growth across Nigeria. The bank made this announcement in a statement on Friday, emphasizing its ongoing efforts to support small businesses with accessible financial solutions. Since its inception, Baobab Nigeria has successfully served almost 300,000 clients, helping entrepreneurs expand their operations and improve their economic prospects. “With close to N500 billion disbursed in loans to micro, small, and medium-sized businesses, Baobab Nigeria has consistently played a crucial role…

A 35-year-old Nigerian man is facing a potential 20-year prison sentence after pleading guilty to orchestrating a fraudulent scheme that cost a Plattsburgh produce importer nearly $160,000. United States Attorney John A. Sarcone III, along with Erin Keegan, Special Agent in Charge of the Buffalo Field Office of Homeland Security Investigations (HSI), announced the guilty plea on Thursday. Lotenna Chisom Umeadi admitted to two counts of wire fraud after gaining unauthorized access to email accounts belonging to employees of a Sri Lankan produce exporter. Umeadi purchased access to a webpage from a hacker, enabling him to obtain email passwords. Using…

The Nigerian insurance industry is experiencing significant growth, as seven publicly listed insurance firms reported a 45% increase in their net assets in 2024. This surge highlights the sector’s improved financial strength and its ability to meet obligations, boosting investor confidence. According to findings by BusinessDay, AIICO Insurance, AXA Mansard Insurance, Cornerstone Insurance, NEM Insurance, Coronation Insurance, Linkage Assurance, and Consolidated Hallmark Holdings collectively recorded a net asset value of N343.3 billion in 2024. This marks a substantial increase from N236.4 billion in 2023. Leading the Market AIICO Insurance topped the list with a net asset of N64.7 billion, closely…

The future of Nigerian sports, particularly football, depends heavily on clubs fostering a passionate and dedicated fan base. Experts at the BusinessDay Sports Conference 2025 highlighted that a lack of fan engagement, unqualified administrators, and inadequate funding are key barriers preventing the growth of sports in Nigeria. Renowned sports broadcaster Mozez Praiz stressed the importance of fan loyalty in strengthening clubs financially and competitively. “To build a successful club, the foundation is a strong and loyal fan base. Fans should feel a sense of ownership in the team,” Praiz stated. “Until we bridge the gap between club managers and supporters,…

Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, has emphasized the transformative power of public relations in driving economic development, investment promotion, and leadership transformation. Speaking at the Experiencing PR 2025 Conference, hosted by Nigerian Women in Public Relations, she stated, “Public relations is more than storytelling; it is a strategic pillar for economic transformation.” The Role of PR in National Development Addressing delegates, she highlighted how PR has been instrumental in improving Nigeria’s business climate. “Nigeria’s PR industry has the potential to contribute significantly to our expanding services sector, attract investment, and enhance our global reputation,” she noted.…

The highly anticipated Herconomy Conference 2025: Wealth Building Summit is set to return for its sixth edition, continuing its mission to equip women with the knowledge, tools, and opportunities needed for financial success. A Platform for Economic Empowerment Under the theme “For All Women and Girls: Rights. Equality. Empowerment,” this year’s summit aligns with the United Nations’ International Women’s Day focus on gender equality and financial inclusion. Scheduled for March 28, 2025, at 10 AM, the conference will be held in a hybrid format, featuring an exclusive in-person venue for registered participants. Over 1,000 professionals, entrepreneurs, investors, and industry leaders…

The Ambassador of the Republic of Korea to Nigeria, Mr. Kim Pankyu, has pledged to strengthen and sustain the partnership between the two nations for mutual benefit. Speaking at a press conference in Abuja organized by the Korean Embassy and the Korean Cultural Centre in Nigeria (KCCN) to mark the 45th anniversary of diplomatic relations between Nigeria and South Korea, Ambassador Pankyu highlighted the growing ties between both countries since his appointment a year ago. Strengthening Diplomatic and Economic Partnerships Reflecting on recent milestones, he stated, “One of the most significant achievements was the first-ever Korea-Africa Summit last June, where…

Access Bank, a leading financial institution dedicated to promoting gender equality and empowering women, is set to honor the distinguished Power of 100 awardees at its upcoming International Women’s Day (IWD) Conference. Scheduled for March 28, 2025, this prestigious event will recognize exceptional women who have demonstrated outstanding leadership, innovation, and impact across various industries in Africa. Recognizing Women Driving Change The Power of 100 initiative is part of Access Bank’s ongoing commitment to celebrating women who are breaking barriers, driving change, and creating opportunities for others. These remarkable individuals have made significant contributions to business, entrepreneurship, social development, and…

Nigeria continues to be a major player in the global cryptocurrency space, boasting one of the highest adoption rates worldwide. However, the government’s stance on digital assets remains complex, balancing regulatory control with an openness to crypto businesses. Despite the ongoing legal battle with Binance and the detention of one of its executives, Tigran Gambaryan, Nigerian officials reaffirm that cryptocurrency operations are still welcome within the country—provided they adhere to regulations. According to Nigeria’s Minister of Information, Mohammed Idris, various crypto businesses legally operate without facing litigation. “This is part of our efforts to strengthen laws, not to stifle innovation.…

In the heart of Ikoyi, Lagos, an impactful discussion unfolded—not about stock markets or corporate profits, but about the financial realities Nigerian women face. The annual Piggyvest Finance Roundtable, held in February 2025, became a platform for candid conversations about the persistent gender wealth gap and the challenges women encounter in achieving financial independence. Statistics from the Piggyvest 2024 Savings Report painted a revealing picture. The report, based on a survey of over 10,000 Nigerians, highlighted that men are far more likely to earn over one million naira monthly. While women demonstrate strong entrepreneurial spirit, often leading in business ownership,…

Ndidi Okonkwo Nwuneli is a distinguished leader in global advocacy, serving as the President and CEO of the ONE Campaign, a renowned organization dedicated to equity, justice, and economic empowerment in Africa. With teams in nine countries, including the United States, where she is currently based, Ndidi brings over 27 years of experience in international development, entrepreneurship, and thought leadership. A Legacy of Leadership and Influence Beyond her role at ONE, Ndidi has made significant contributions as a board member of prestigious organizations such as the Rockefeller Foundation, Chanel Foundation, and Stanbic IBTC Group. She has also lent her expertise…

“I launched a new hair product and tested it on myself, and I couldn’t believe the transformation. After years of battling traction alopecia and trying various organic remedies, I finally found something that worked. Seeing my own hair thrive felt like a dream come true. Now, our journey extends beyond skincare into health products, always staying true to our mission—empowering local traders and harnessing nature’s best ingredients to create solutions that genuinely improve lives.” — Temitope Abiona (2025) From Passion to Enterprise: The Birth of Eriglow Organics The journey of entrepreneurship is rarely straightforward, but for Nigerian-American entrepreneur Temitope Abiona,…

The Bank of Industry (BOI) has unveiled a groundbreaking initiative, Project Guaranteed Loans for Women (GLOW), a special ₦10 billion intervention fund aimed at supporting female entrepreneurs across Nigeria. Announcing the initiative on Thursday in Lagos, BOI’s Managing Director, Dr. Olasupo Olusi, emphasized that the funding is designed to bridge the financial inclusion gap for women, empowering them to scale their businesses and drive economic transformation. Bridging the Financial Gap for Women Entrepreneurs Dr. Olusi highlighted Nigeria’s leading position in global female entrepreneurial activity, noting that an estimated 23 million women entrepreneurs account for 41% of the country’s micro-businesses. Despite…

President and CEO of Dangote Industries Limited, Aliko Dangote, has urged young entrepreneurs and scholars to rise above limitations and pursue ambitious goals that will transform the world. During a visit by a delegation from the Harvard Kennedy School to the Dangote Petroleum Refinery & Petrochemicals complex and Dangote Fertiliser Limited in Ibeju Lekki, Lagos, Dangote shared insights into his entrepreneurial journey and the principles that have driven his success. The visiting scholars described Africa’s richest man as a visionary and fearless investor, lauding his ability to provide innovative solutions to pressing economic challenges. The Power of Ambition and Resilience…

Adetunji ‘TeeJay’ Opayele, Co-founder and Chief Technology Officer (CTO) of Nigerian retail automation startup Bumpa, has passed away following a tragic car accident in Lagos, Nigeria, on March 5, 2025. Opayele, a law graduate from Obafemi Awolowo University (OAU), played a pivotal role in co-founding Bumpa in 2020 alongside his longtime friend and business partner, Kelvin Umechukwu. The duo, who met during their university years, collaborated on several ventures before launching Bumpa, a startup that has since revolutionized retail automation for small businesses. A Devastating Loss to the Startup Ecosystem Expressing his grief, Umechukwu shared an emotional tribute: “This is…

In a strategic effort to enhance export opportunities for locally made products, the Cross River Microfinance and Enterprise Development Agency (MEDA) has deepened its collaboration with the Nigerian Export-Import Bank (NEXIM). The high-level meeting, held in Calabar, underscores a shared commitment to empowering Micro, Small, and Medium Enterprises (MSMEs) and strengthening the state’s economy. The meeting followed NEXIM’s active participation in the recent International Women’s Day celebration, marking a progressive partnership between the two institutions. Strengthening MSME Growth and Export Potential Speaking at the event, MEDA Director-General Great Ogban outlined the agency’s ambitious initiatives to bolster MSME development and expand…

Businesses across various sectors in Nigeria have identified high interest rates and insecurity as the most significant hurdles threatening their operations as they look ahead to 2025. This was highlighted in the February Business Expectations Survey conducted by the Central Bank of Nigeria (CBN), which sheds light on the key constraints facing enterprises across the country. Major Challenges Stifling Business Growth The survey, released on Wednesday, underscores the financial and security concerns plaguing Nigerian businesses. According to the findings: 75% of respondents flagged high interest rates as a critical obstacle. 73.9% cited insecurity as a major challenge. 73.8% pointed to…