Author: Gift Ifeanyi

The Federal Government of Nigeria has approved the creation of a new aircraft leasing company aimed at strengthening the country’s aviation industry and improving access to aircraft for local airlines. Announcing the decision after a Federal Executive Council meeting, Minister of Aviation Festus Keyamo explained that the initiative will operate as a privately funded Special Purpose Vehicle (SPV), structured to function on a commercial basis without direct financial burden on the government. A Private Model with Government Support The proposed entity—referred to as the Nigerian Aircraft Leasing Company—will focus on acquiring and leasing aircraft to domestic carriers. While privately financed,…

The Oba Adeyeye Enitan Ogunwusi, widely known as the Ooni of Ife, is redefining the role of traditional leadership in Nigeria by combining cultural influence with strategic business investments. His latest project, the Ojaja Mall and Suites, reflects a broader vision of economic empowerment driven by indigenous enterprise. Located along the Lekki–Ajah corridor in Lagos, the development represents a significant expansion of the monarch’s footprint in retail and hospitality—sectors he has consistently invested in over the years. A Royal Approach to Economic Development Unlike many traditional rulers, Ogunwusi has positioned himself not just as a supporter of local businesses but…

The Development Bank of Nigeria (DBN) has reinforced its position as a key driver of small business growth, revealing that its financing activities have supported the creation of approximately 1.6 million jobs since its inception in 2015. Speaking at the bank’s 9th Annual General Meeting in Abuja, Managing Director and CEO Tony Okpanachi disclosed that the institution has disbursed over ₦1.4 trillion to micro, small, and medium enterprises (MSMEs) through partner financial institutions nationwide. Rising Annual Impact In 2025 alone, DBN released more than ₦300 billion in funding, reaching over 180,000 businesses. The figures highlight a steady expansion in financial…

Coinage Fund Management Ltd has received regulatory approval from the Securities and Exchange Commission Nigeria to operate as a licensed fund and portfolio manager, marking its official entry into Nigeria’s structured investment advisory space. The approval positions the firm to provide professional wealth management services across a wide client base, including high-net-worth individuals, institutions, corporate organisations, and emerging investors seeking more structured financial guidance. Expanding Access to Professional Investment Services With the new license, Coinage Fund aims to address a long-standing gap in Nigeria’s financial ecosystem—limited access to credible, professional investment advisory services. Chief Executive Officer Biodun Oke described the…

Agribusinesses across Sub-Saharan Africa now have an opportunity to access growth capital as AgDevCo opens applications for its long-term investment programme. The initiative targets commercially viable businesses in the agriculture sector that are ready to expand operations while delivering measurable impact across food systems, employment, and rural development. Bridging Africa’s Agribusiness Funding Gap Access to large-scale, patient capital remains a major barrier for agribusinesses in Africa. Many small and medium-sized enterprises struggle to scale despite having proven business models. AgDevCo’s investment model is designed to address this gap by offering structured financing—both debt and equity—tailored to the needs of each…

The Association of Telecommunications Companies of Nigeria (ATCON) has called for stronger local content development as a key strategy to drive sustainable growth in Nigeria’s digital economy. The association made this known during its Annual General Meeting held in Lagos, where industry stakeholders emphasized the need to empower local Internet Service Providers (ISPs) and small and medium-sized enterprises (SMEs) as critical drivers of national digital transformation. Local Content as an Economic Strategy Speaking at the event, CEO of Broadbased Communications Limited, Chidi Ibisi, explained that local content should not be viewed as protectionism but as a structured approach to building…

A new five-volume business publication series by Ekundayo George is offering a structured guide to entrepreneurship, operations, and long-term business sustainability, drawing from over four decades of professional experience across regulatory, legal, and corporate environments in the United States and Canada. The series is organised into 36 chapters across five themed volumes, each addressing a different stage of the business lifecycle—from starting a venture to sustaining long-term success. Volume I: Building and Starting a Business The first volume focuses on foundational business development, including startup planning, business model design, fundraising strategies, marketing, and project management. It also introduces analytical tools…

Analysts at Cowry Asset Management Limited have raised concerns over Nigeria’s short-term economic performance following new data showing a slowdown in business activity across key sectors. Their latest review of the April 2026 Purchasing Managers’ Index (PMI) released by the Central Bank of Nigeria indicates that economic momentum weakened significantly during the month. First Contraction in Over a Year The composite PMI fell to 49.4 points, dropping below the 50-point benchmark that separates expansion from contraction for the first time in 16 months. This signals a technical contraction in private sector activity. According to Cowry Asset, the decline reflects reduced…

Africa is increasingly being positioned as a critical force in the future of the global artificial intelligence (AI) economy, with industry leaders arguing that its importance goes far beyond data and software innovation. Speaking at the UNLEASH Global Business Conference 2026, held at the Johns Hopkins University Bloomberg Center, Dr. Elizabeth Jack-Rich, Chief Executive Officer of ELIN Group, emphasized a shift in how AI should be understood globally. According to her, the common perception of AI as purely a software-driven field is incomplete. She argued that the technology is deeply rooted in physical systems—relying heavily on energy supply, computing infrastructure,…

At the 2026 edition of The Platform Nigeria 2026 held in Lagos, former Finance Minister Kemi Adeosun delivered a candid message to aspiring entrepreneurs: failure is not the opposite of success—it is part of the process. Drawing from her personal journey, Adeosun revealed that she had launched nine businesses, with six not succeeding. Rather than viewing those experiences as losses, she framed them as critical lessons that shaped her understanding of how businesses truly operate. She challenged the popular assumption that starting a business automatically leads to success, warning that such thinking can set unrealistic expectations. Instead, she encouraged a…

Small business owners and aspiring entrepreneurs in Lagos are set to benefit from a new financing initiative launched through a partnership between Agege Local Government and the Lagos State Employment Trust Fund. The programme, introduced by Abdulganiyu Obasa, is designed to improve access to capital for startups and small-scale enterprises within the Agege community. Under the scheme, qualified applicants can access loans of up to ₦1 million at an annual interest rate of nine percent. According to Obasa, the initiative is part of a broader effort to stimulate local enterprise, reduce poverty, and strengthen economic participation among residents. The first…

Nigeria’s federal government has reinforced its commitment to making micro, small, and medium enterprises (MSMEs) the driving force behind the country’s economic transformation. Speaking at the 6th Annual Lecture of the Development Bank of Nigeria in Abuja, Vice President Kashim Shettima—represented by Tope Fasua—highlighted the critical role small businesses play in national development. He emphasized that MSMEs contribute over 80 percent of employment in Nigeria and form a substantial part of the country’s economic output. Rather than being seen as minor players, they are positioned as essential to achieving the administration’s broader economic vision under President Bola Tinubu’s reform agenda.…

Nova Commercial Bank has outlined an ambitious post-recapitalisation strategy focused on expanding credit access, strengthening digital infrastructure, and deepening its presence in underserved segments of Nigeria’s banking market. Rather than pursuing scale for its own sake, the bank says its priority is to become a preferred financial partner—leveraging a hybrid model that blends relationship-driven banking with modern digital delivery. Targeting Gaps in Nigeria’s Banking System The bank has identified three critical areas where it believes it can gain a competitive edge. These include improving access to credit for small and medium-sized enterprises (SMEs), expanding retail banking services to underserved communities,…

Global software giant Adobe is accelerating its expansion across Africa, with Nigeria emerging as a central hub in its strategy to tap into the fast-growing creative and AI-driven economy. Speaking during a media event in Lagos, Magalie Meuris outlined the company’s long-term commitment to the region, emphasizing that the move goes beyond short-term engagement and reflects a deeper investment agenda. The event also marked Adobe’s partnership with Redington, aimed at strengthening market access and delivering advanced creative solutions locally. Meuris highlighted the rapid rise of Africa’s creator economy, which has already crossed the $3 billion mark and is projected to…

A group of ten emerging startups in Nigeria has secured a combined $560,000 in funding to develop solutions addressing the growing risks of extreme heat on food systems, public health, and infrastructure. The funding comes through the TECA Heat Action Wave (THAW) Programme, an initiative focused on supporting early-stage ventures building climate resilience technologies. The selected startups are working on practical innovations aimed at protecting agricultural productivity, improving health outcomes, and strengthening vulnerable systems affected by rising temperatures. The programme reflects a growing recognition that climate change—particularly extreme heat—is no longer a distant concern but an immediate challenge impacting food…

The Development Bank of Nigeria (DBN) says its financing interventions have continued to drive job creation and strengthen micro, small, and medium enterprises (MSMEs) across the country. Speaking after the bank’s 2025 Annual General Meeting in Abuja, Managing Director and CEO Tony Okpanachi revealed that the institution has disbursed over ₦300 billion to approximately 180,000 MSMEs within the year under review. He also stated that since its establishment, DBN has cumulatively provided over ₦1.4 trillion in funding through financial institutions that on-lend to small businesses, resulting in the creation of about 1.6 million jobs nationwide. According to him, the bank’s…

Experts at the Nigeria Business Summit 2026 have identified deep structural challenges—particularly unreliable power supply, limited access to finance, and weak business formalisation—as the main barriers preventing small and medium-sized enterprises (SMEs) in Nigeria from scaling sustainably. During a session titled “The SME Economy: Advancing Trends and Opportunities,” stakeholders from the private sector, government agencies, and development institutions examined why many businesses remain stuck in survival mode despite Nigeria’s large entrepreneurial base. High Cost of Operations and Finance Constraints Business operators highlighted the harsh operating environment facing SMEs, especially in manufacturing. Innocent Egwuonwu, Managing Director of Ojay’s International, noted that…

London / Lagos — For many Nigerian entrepreneurs, the “secret sauce” of local success—rapid-fire flexibility and the power of the personal handshake—is proving to be a stumbling block on the global stage. Ayeni-Wuraola Ogungbola, the founder of OAW Brand Consulting, warns that the very agility that allows businesses to thrive in Lagos often clashes with the rigid, system-driven expectations of mature markets like the United Kingdom and the United States. Ogungbola, an international business expert with nearly 20 years of experience, argues that the transition from a “personality-driven” business to a “system-driven” organization is the only way for Nigerian brands…

Bilateral trade between Nigeria and Malaysia has reached a critical tipping point, with imports from the Southeast Asian nation surging by nearly 350% over a four-year period. Data from the Nigeria Customs Service (NCS) reveals that imports climbed from $106.6 million in 2020 to approximately $477.3 million in 2024, bringing the cumulative five-year trade value to $1.21 billion. In response to this rapid expansion, Comptroller-General of Customs, Adewale Adeniyi, met with his Malaysian counterpart, Dato’ Haji Amran bin Haji Ahmad, to bridge a significant regulatory gap: the lack of a formal legal framework for customs cooperation between the two nations.…

In a historic trading session, the Nigerian equities market surged past the ₦150 trillion market capitalization threshold, driven by aggressive buying in blue-chip and mid-cap stocks. The market gained a staggering ₦5.554 trillion in a single day, reflecting renewed investor confidence as the full-year dividend season approaches. The All-Share Index (ASI) climbed by 3.77%, closing at a record 237,205.59 points, while the overall market value settled at ₦152.728 trillion. Market Drivers and Performance The bullish momentum was largely fueled by price gains in high-value tickers across the telecommunications, energy, and industrial sectors. Key Gainers: Industrial & Telecom Giants: Market heavyweights…