Author: Gift Ifeanyi

In one of the most dramatic wealth surges in Nigeria’s corporate history, billionaire industrialist Abdul Samad Rabiu has grown his net worth from $5.1 billion in January 2025 to $7.3 billion by August 9, 2025 — a staggering $2.2 billion gain in just seven months. The leap is fueled by the stellar performance of BUA Cement and BUA Foods on the Nigerian Exchange (NGX), where Rabiu maintains near-total control — owning 98% and 95% of the companies respectively. Both firms have delivered robust financial results in 2025, with BUA Foods posting ₦912.5 billion in revenue and ₦260 billion in profits…

Nigeria recorded a significant boost in its non-oil exports during the first half of 2025, earning $3.225 billion — a 19.6% jump compared to the same period in 2024, according to the Nigerian Export Promotion Council (NEPC). The country’s non-oil export volume also grew from 3.83 million metric tons in the first half of last year to 4.04 million metric tons this year. NEPC’s Executive Director, Nonye Ayeni, attributed the growth to rising global demand, favorable trade agreements, and targeted government initiatives aimed at improving export readiness. Cocoa beans, urea/fertilizer, and cashew nuts led the export chart, with cocoa alone…

The GURUFIED Brand Global’s founder, is inspiring a new wave of business leaders with her candid lessons from the frontlines of entrepreneurship. Speaking from years of hard-earned experience, she underscores the power of resilience, empathy, and visionary thinking, paired with a willingness to adapt in a constantly changing market. Her journey, marked by hurdles such as securing funding, maintaining quality standards, and staying ahead in competitive markets, has become a roadmap for perseverance and innovation. She urges emerging entrepreneurs to take calculated risks, safeguard their integrity, and hold fast to their long-term vision — values she believes are the foundation…

British American Tobacco (BAT) Nigeria has called on policymakers to take decisive action in implementing forward-looking reforms that can unlock the nation’s manufacturing export potential and position it as a competitive force in the evolving global trade arena. Speaking at the inaugural Manufacturers Association of Nigeria (MAN) High-Level Think Tank Session in Ibadan, BAT West and Central Africa’s Corporate and Regulatory Affairs Director, Odiri Erewa-Meggison, warned that without agile, growth-driven policies, Nigeria risks falling behind in a rapidly shifting economic landscape. Her remarks were delivered by Ruth Owojaiye, BAT WCA’s Head of Regulatory Engagements. Erewa-Meggison stressed that global trade is…

Nigeria is losing tens of billions of dollars each year to illicit financial flows (IFFs), with the bulk of the losses coming from commercial activities disguised as legitimate transactions, according to Professor Bolaji Owasanoye, SAN, Coordinating Director of the Proceeds of Crime Management and Illicit Financial Flows Coordination Directorate at the Federal Inland Revenue Service (FIRS). Speaking after the National Conference on Illicit Financial Flows, held in Abuja on 22–23 July 2025, Owasanoye — a former chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) — warned that IFFs are robbing Nigeria of vital tax revenue needed…

The stage is set for an electrifying showdown in the 2025 Nigeria Premier Basketball League (NPBL) as defending champions Rivers Hoopers BC gear up to defend their title against fifteen fierce contenders. According to a joint communiqué issued by League Chairman Babatunde Ogunade and Nigeria Basketball Federation (NBBF) Secretary General Amina O. Amanchi, the new season will tip off on 28 August and run through 16 November 2025, with team registration slated for early August. This year’s NPBL will unfold in four phases — Group Stage, Inter-Group Stage, Playoffs, and the Final Four. The 16 teams have been split into…

Zonkwa — In a move aimed at boosting grassroots enterprise, Senator Sunday Marshall Katung has provided business equipment to 500 youth and women entrepreneurs across the eight local government areas of Kaduna South Senatorial District. The distribution, held in Zonkwa, saw beneficiaries receive refrigerators, generators, and industrial sewing machines — tools designed to strengthen small-scale businesses and create ripple effects of economic growth. The initiative was implemented in collaboration with the National Centre for Agricultural Mechanisation (NCAM) and coordinated by Simon Arabo, Director-General of the defunct SMK 2023 campaign organisation, who represented the senator at the event. Arabo explained that…

After two years of currency turbulence that drained profits and drove up finance costs, Nigeria’s biggest listed companies are showing not just a return to profitability, but something far more important — a surge in cash generation that could reshape their growth trajectories. In the first half of 2025, the stabilising naira has not only erased the crippling foreign exchange losses of recent years but delivered foreign exchange gains for some, pushing bottom lines into the black. Yet, analysts say the real measure of resilience is not in reported profits, but in the ability to produce hard cash from daily…

Nigeria is bracing for a flurry of economic and policy developments in August, from the rollout of refined fuel nationwide to sweeping financial reforms and a push for renewable energy in public institutions. The Dangote Petroleum Refinery is set to begin distributing diesel and premium motor spirit (PMS) across the country from August 15. To support the rollout, the company has acquired 4,000 compressed natural gas (CNG)-powered tankers, backed by a network of CNG stations and over 100 mobile CNG tankers, in a bid to ensure cleaner, more efficient last-mile delivery. In the financial sector, President Bola Tinubu has signed…

When global policymakers and innovators gathered in China for the 2025 UN-Habitat Seminar on Sustainable Urban Development, Nigeria’s tech ecosystem had a bold voice in the room — and it belonged to Uzezi Ernest, founder and CEO of AccompliTech Ltd. The week-long programme, hosted by China’s International Cooperation Center (ICC) in collaboration with UN-Habitat, brought together urban planners, government officials, and technology experts to reimagine cities of the future. Ernest was one of four Nigerians selected, alongside Joseph Akinwoleola, Faithful Ojebiyi, and Ayokunle Adebawo — and notably, the only woman in the delegation. Representing the intersection of technology, education, and…

A Nigerian cleric has argued that the nation’s future depends more on the vision and innovation of entrepreneurs than on the influence of political leaders. Speaking during a three-day programme in Abuja titled “The Manifest Power of the Ancient Lion King”, the head of the Locust Army International Church emphasised that those who build businesses create real value that drives economic growth, while many politicians are more focused on misusing public resources. The event also marked the inauguration of the church’s branch in Apo, led by Reverend Victor Mark. He told participants that holding a political position does not guarantee…

In the late 1990s, Lagos’s bustling markets were awash with counterfeit electronics and overpriced gadgets. Amid the chaos, a young computer engineering graduate, Nnamdi Ezeigbo, saw an opening — and turned it into one of Africa’s most remarkable tech success stories. What began in 1998 as a single shop selling affordable, genuine mobile devices has grown into SLOT Systems Limited, a nationwide retail network known for quality smartphones, accessories, and expert repair services. Today, SLOT is a household name, serving millions and employing thousands across Nigeria. A recent viral LinkedIn post by Nigerian banker and content creator Mayowa J. Michael…

In Agbara, Ogun State, 49 women are preparing to reshape their local economy after joining Nestlé Nigeria’s Empowering Rural Women programme — an initiative that’s been quietly turning small shops into thriving enterprises across Nigeria. Backed by ₦200,000 in product grants, hands-on training, and months of one-on-one mentorship, these women are stepping into an opportunity that has already changed the fortunes of over 431 entrepreneurs nationwide. Past participants have seen profits jump by as much as 300% within three months, boosting household incomes and strengthening community resilience. “This is about more than just business — it’s about inclusive growth and…

For decades, Nigeria’s diaspora has been celebrated for sending home billions in remittances — over US$20.5 billion in 2024 alone, more than the country earned from crude oil exports. But for all the financial inflow, national development has often lagged behind. Now, a new government-backed platform is betting that expertise, not just money, is the missing ingredient. The BRIDGE initiative — short for Bridging Research, Innovation, Development & Global Engagement — is designed as a digital matchmaking hub connecting Nigerian institutions directly with skilled professionals abroad. Instead of relying on speeches and goodwill lists, BRIDGE offers a live request-and-offer dashboard:…

Bauchi, Nigeria — August 10, 2025: Unemployed graduates and aspiring entrepreneurs in Bauchi State are being offered a rare opportunity to future-proof their careers, as the Office of the Special Adviser to the Governor on Youth and Entrepreneurship opens applications for a free 8-week digital economy training programme. The initiative, titled “Reinventing Yourself with the Right Entrepreneurship Mindsets, Skills, and Tools in a Digital Economy,” is organised in collaboration with American Space Bauchi and supported by the United States Diplomatic Mission in Nigeria. Sessions will run from 1:00 PM to 5:30 PM WAT every Tuesday at the American Space, Prof.…

Abuja, Nigeria — October 22–25, 2025: The Federal Capital Territory will take centre stage this October as over 500 high-level participants from 40 countries converge for the Abuja Business Investment Expo, a premier platform for unlocking economic potential in emerging markets. Hosted by the Abuja Investment Company Limited (AICL) under the leadership of Minister of the Federal Capital Territory, Barrister Nyesom Wike, the event will unfold at the President Bola Ahmed Tinubu International Conference Centre — bringing together top government officials, investors, industry leaders, diplomats, financiers, and innovators from around the world. This year’s theme, “Empowering Sustainable Growth: Unlocking Potential…

Lagos, Nigeria — Nigeria’s path to sustainable development will remain blocked unless the nation tackles what thought leaders call its “psychology of underdevelopment” through disciplined governance, citizen responsibility, and values-driven leadership. That was the consensus on Thursday at the Lagos edition of the Development As Attitude National Dialogue Series, organised by the Nigerian Economic Summit Group (NESG) in partnership with the Gates Foundation under the Nigerian Hamilton Project. The conversations drew inspiration from Development As Attitude, a book by Prof. Osita Ogbu, co-chair of NESG’s National Economic Advisory Council, who told participants: “Attitude shapes development outcomes. Without the right mindset,…

Enugu, Nigeria — The Enugu State Government has enlisted global business executive Napa Onwusah to help shape the future of technology and innovation in the state, appointing her to the Advisory Board of the 2026 Enugu Tech Festival (ETF). The appointment comes as part of a broader strategic push following the inauguration of ETF’s Central Planning Committee, which combines a Local Organising Committee with an Advisory Board stacked with heavyweights from Nigeria’s tech scene and the international innovation ecosystem. Dr. Lawrence Ezeh, Enugu’s Commissioner for Innovation, said the Advisory Board will be pivotal in “guiding ETF’s planning and execution to…

Lagos, Nigeria — Once the go-to choice for middle-class Nigerians, foreign-used “tokunbo” cars have suddenly become a luxury item, priced far beyond the reach of the average buyer. A mix of a crashing naira, surging living costs, and new import tariffs has flipped the country’s auto market on its head — and in the process, created an unexpected economic shift where locally used cars are now in the driver’s seat. For car dealer Nurudeen Amodu, the transformation is staggering. “A 2003–2006 Toyota Camry we used to sell for ₦1.5 million now goes for up to ₦10 million,” he said. The…

Accra, Ghana — Ghana is positioning itself for a powerful showing at the Global Entrepreneurship Festival (GEF) in Akure, Nigeria, this November — an event billed as one of Africa’s biggest gatherings for innovation, business, and collaboration. At a press launch in Accra, Mr. Nathan Kwabena Anokye Adisi, GEF Board Member and Event Chairperson, called on Ghanaian entrepreneurs to seize the moment and showcase their ingenuity before an international audience. “GEF is more than a festival — it’s a platform to connect, collaborate, and inspire,” Mr. Adisi said at the GEF Global Business Mixer and press conference. “Our entrepreneurs have…