Author: Gift Ifeanyi

Nigeria’s gaming industry leaders will gather in Enugu next week for the second edition of the country’s premier gaming and digital entertainment conference. Scheduled for July 30-31 at the International Conference Centre, the event themed “From Unification to Diversification: Shaping Nigeria’s Gaming Future” will bring together developers, investors, and policymakers to discuss the sector’s growth. Organizers highlight Enugu’s emergence as a digital hub, with the conference designed to foster collaboration and innovation. The program includes: Keynote speeches from global gaming executives Startup pitch sessions and developer workshops Live esports tournaments with cash prizes Exhibitions showcasing African game content “Beyond networking, this event…

Lagos, July 2025 – The Chief Executive of Egbin Power Plc, Mr Mokhtar Bounour, has urged Nigeria’s energy sector to embrace innovative technologies and stronger collaborations to resolve the nation’s chronic power challenges. Speaking at the Shell Power Conference 2025 in Lagos, Bounour emphasized that while Nigeria’s electricity ambitions are clear, achieving reliable supply demands “strategic partnerships, cutting-edge solutions, and unwavering commitment to safety standards.” Key Highlights: Collaborative Approach: Bounour stressed that generation, transmission, and distribution companies must work together to improve grid efficiency and attract investments. Tech-Driven Solutions: Adoption of advanced technologies is critical for operational excellence and meeting growing energy demand. Egbin’s…

Lagos, July 2025 – Nigerian industrialist Abdul Samad Rabiu has seen his fortune surge to $6 billion, marking a $900 million increase since January 2025, according to the latest Forbes ranking. The BUA Group chairman’s wealth growth – driven by strong performances of BUA Foods and BUA Cement – now places him within striking distance of becoming Nigeria’s second-richest person, trailing only telecom mogul Mike Adenuga ($6.4 billion). Key Insights: Johann Rupert (Richemont) remains Africa’s second-wealthiest at $17 billion, benefiting from sustained luxury goods demand. Aliko Dangote retains top spot with $24.2 billion, underscoring Nigeria’s dominance in Africa’s billionaire rankings. Wealth creation is shifting beyond oil/gas, with cement, telecoms, and FMCG sectors…

Lagos, Nigeria – Providus Bank has pledged to deepen its commitment to Nigeria’s small and medium enterprises as it celebrates five years of its flagship SME development program in partnership with the Enterprise Development Centre (EDC). At an anniversary event in Lagos attended by program alumni and partners, the bank’s Deputy Managing Director, Kingsley Aigbokhaevbo, announced plans to expand the initiative and position Providus as a top-three SME bank in Nigeria. Key Highlights: The program has trained 96 entrepreneurs across Lagos and Abuja since inception Providus is negotiating with Development Bank of Nigeria to secure lower-interest loans for SMEs Zero-fee model maintained as part of…

Lagos, Nigeria – As Nigeria prepares to host the October Nigeria-China Sustainable Business Summit, the arrival of 216 Chinese investors has sparked both optimism and unease. While the delegation promises much-needed foreign capital, analysts warn Nigeria risks deepening its $10.8 billion trade deficit with China unless negotiations prioritize technology transfer, local jobs, and value-added industries. The Chinese Playbook  Trade Imbalance: Nigeria exported $12.2B in crude oil (2023) but imported $23B in Chinese manufactured goods.  Debt-Funded Projects: BRI loans (like the $4.73B Nigeria owes China) often mandate Chinese contractors, limiting local benefits.  Precedents: Sri Lanka’s Hambantota Port and Zambia’s copper mines show the risks of debt-driven deals. Nigeria’s Strategic Imperatives  Demand tech transfers –…

Abuja, Nigeria – The Federal Government has unveiled an ambitious plan to position Nigeria as Africa’s fashion powerhouse through a nationwide skills training initiative for designers, tailors, and creative entrepreneurs. Program Highlights: Two-Track Curriculum: Combines Pattern Making & Professional Sewing with Fashion Business & Branding Mentorship & Networks: Connects trainees to industry leaders and global markets Application Window: Opens August 4–11 via clap.gov.ng “This is about transforming raw talent into global brands,” said Hannatu Musawa, Minister of Art, Culture, and Creative Economy. “Fashion isn’t just art—it’s a $100 billion economic opportunity by 2030.” Why It Matters 🇳🇬 Nigerian designers like Lisa Folawiyo and Orange Culture are already making waves internationally, but systemic challenges persist:  Skills gap: Many tailors…

Lagos, Nigeria – While much of the world grapples with economic stagnation, Nigeria is scripting an unexpected turnaround story—one powered by local oil takeovers, a fintech explosion, and record-breaking creative exports. The Unseen Transformation Energy Sovereignty: Indigenous firms now control 50%+ of oil production, with Dangote Refinery flipping Nigeria into a fuel exporter to the US and Saudi Arabia.  Digital Gold Rush: Spotify paid Nigerian artists ₦58B (2024) YouTube creators earned $500M+ Fintechs like Moniepoint are banking the unbanked in conflict zones  Agricultural Boom: Cocoa exports tripled to $2.6B, with 2025 harvests projected to surpass Ghana and Ivory Coast.  Industrial Revival: Manufacturers like Okomu Oil post 459% profit jumps as FX stability and policy…

Lagos, Nigeria – As living costs rise, more Nigerians are turning to flexible side gigs to supplement their incomes—with some earning over ₦100,000 monthly while keeping their full-time jobs. Top 10 Lucrative Side Hustles Freelance Writing – Earn ₦50k–₦300k/month writing for global clients. Social Media Marketing – Manage brands online for ₦80k–₦500k/month. Online Tutoring – Teach subjects like math/English for ₦1,500–₦5,000/hour. Graphic Design – Create logos/flyers; top designers make ₦200k+/month. Event Planning – Coordinate weddings/corporate events for ₦150k–₦1M per gig. Personal Shopping – Busy professionals pay ₦10k–₦50k per errand run. Photography – Cover events or sell stock photos for ₦100k–₦800k/month. Blogging – Monetize via ads/sponsorships; top bloggers earn ₦500k+/month. Online Stores – Dropshipping or selling handmade goods can yield ₦300k+ monthly. Ride-Sharing – Uber/Bolt drivers…

London, UK – In a precedent-setting ruling, the UK High Court has cleared the way for two Nigerian communities to sue Shell over decades of oil pollution in the Niger Delta, with a trial scheduled for 2027. The case could redefine corporate accountability for environmental damage across Africa. Key Developments  The Lawsuit: Bille and Ogale communities allege Shell’s operations caused devastating health and economic harm since the 1950s. Court’s Decision: Shell remains liable for uncleaned spills, regardless of when they occurred or third-party involvement. Global Implications: Ruling aligns with UN principles linking environmental harm to human rights violations. Why It Matters  Right to Life: Judge recognized pollution’s threat to…

Lagos, Nigeria – The African Centre for Supply Chain (ACSC) has announced its inaugural conference to redefine logistics and trade efficiency across Nigeria and Africa, spotlighting technology, sustainability, and crisis-ready solutions. Event Highlights  Date: September 10, 2025 Venue: Radisson Blu, Victoria Island, Lagos Theme: “Supply Chain of Now: Technology, Sustainability, and Social Impact” Key Focus Areas AI & Blockchain: Case study on emergency response logistics Green Procurement: Cutting emissions in oil/gas supply chains Election Logistics: Optimizing nationwide material distribution Healthcare Delivery: Reaching remote areas with medical supplies “Africa’s supply chains must evolve to withstand global shocks,” said Dr. Obiora Madu, ACSC Director-General. “This is where policy meets innovation.”…

President Bola Tinubu’s economic reforms are fueling the biggest bond rally in emerging markets, as Nigeria’s debt surges with 26% returns this year—outpacing global peers. Why Investors Are Flocking Back  Stable Naira: Volatility dropped from 23% to 4.6% since December. Slowing Inflation: Down for 3 straight months to 22.2% (June 2025). Revenue Surge: Govt income up 43% in H1 2025, with tax reforms boosting collections. Moody’s Upgrade: Nigeria lifted from Caa1 to B3—now on the cusp of “investable” status. “The optics are finally constructive,” says Matthew Reed (Bank of Africa UK). “Currency stability removes a major hurdle for global investors.” The Tinubu Effect Since May 2023, tough reforms have reset Nigeria’s fiscal health:  Axe on fuel subsidies –…

Nigerian fashion icon Seyi Adekunle (Seyi Vodi) has fired back at skeptics questioning his wealth after his lavish 50th birthday celebration, exposing what he calls “a society poisoned by poverty mentality.” The Core of His Argument  Global Comparison: *”Philipp Plein built a billion-dollar empire starting just 3 years before me. Why isn’t Nigeria asking why I’m* not a billionaire yet?” 24 Years of Grind: No private jets, no shortcuts—just “sleepless nights, cross-border hustles, and relentless consistency.” Mindset Crisis: “When hardship is normalized, success becomes suspicious.” Hard Truths About Nigerian Society  Suspicion Over Celebration: “People ask, ‘Is it only fashion funding him?’—but never ask if their own mindset is funding…

Cynthia Okafor Ogochukwu, Founder and CEO of TWC Lifestyle Boutique, turned her love for fashion into a thriving business that redefines men’s style in Nigeria. What started as a solution to the scarcity of ready-made, high-quality menswear has grown into a brand synonymous with confidence, class, and convenience. “I wanted to create a space where men could shop effortlessly for standout pieces—no stress, no compromises,” she shares. Keys to Success in a Tough Economy  Consistency Over Hype – “I didn’t chase overnight success; I focused on steady growth.” Customer-Centric Approach – Listening to feedback and adapting to needs. Social Media Mastery – Leveraging Instagram and TikTok to build trust…

Leading app growth agency Yodel Mobile by NP Digital has teamed up with the Cherie Blair Foundation for Women to enhance HerVenture, a free mobile learning app designed to support women entrepreneurs in Nigeria. As part of its pro-bono charity initiative, Yodel Mobile will provide App Store Optimization (ASO) services at no cost, helping the app reach more women in underserved communities. Why This Matters  HerVenture offers bite-sized business training on finance, e-commerce, and networking—critical skills for women entrepreneurs.  Nigeria is a key market, where access to traditional business education is limited.  ASO support will improve the app’s visibility and downloads, driving real impact. “We’re proud to use our expertise to…

Aliko Dangote, Africa’s richest man, has urged the Federal Government to replicate the Naira-for-Crude policy across other sectors, calling it a game-changer for Nigeria’s economy. Speaking during a visit by Industry Minister Jumoke Oduwole to his $20B refinery complex in Lagos, Dangote praised President Tinubu’s economic reforms while outlining bold plans to cut fuel costs and boost industrial productivity. Why the Naira-for-Crude Policy Works  Stabilizes the Naira – Reduced forex pressure, less exchange rate volatility Boosts Local Refineries – Ensures steady crude supply in local currency Attracts Investment – Predictable policies restore business confidence “Pricing crude in naira is a masterstroke. We’re already seeing stability in forex rates, which helps businesses plan better,” Dangote said. Key Developments…

The Alarming Numbers  SME default index plunged from 0.5 to -7.2 (Q2 2025)  Household loan defaults dropped from 3.9 to -7.0  MPR held at 27.5% for third straight meeting Why This Is Happening Nigeria’s aggressive monetary tightening, aimed at taming inflation (still at 28.6%), is now squeezing small businesses: Higher borrowing costs – Loans become unaffordable Thin profit margins – SMEs struggle with cash flow Delayed economic relief – Reforms yet to trickle down “The real economy is suffocating,” warns Bismarck Rewane, CEO of Financial Derivatives Company. The World Bank’s Take Despite the strain, the World Bank backs Nigeria’s reforms, praising: FX liberalization Fuel subsidy removal Private sector focus “Nigeria is Africa’s cornerstone. Bold reforms…

Nigeria’s mining sector recorded a staggering 533% revenue jump from N6 billion in 2023 to N38 billion in 2024, but industry leaders warn this growth could stall without critical incentives for operators. What Drove the Revenue Surge? Solid Minerals Minister Dele Alake credited three key factors: Stricter licensing regulations Value-addition policies Crackdown on illegal mining However, Dele Ayankele, President of the Miners Association of Nigeria (MAN), argues these gains could multiply with targeted incentives to boost production volumes. The Incentive Debate While applauding the minister’s reforms, MAN highlights: Global demand for energy transition minerals is rising High licensing fees are pushing out small-scale miners Only foreign-backed operators can afford new costs Royalty-based growth (tied to production)…

The United Kingdom has launched a game-changing intervention to tackle Nigeria’s chronic export rejections, injecting expertise and funds to upgrade the country’s quality infrastructure and unlock duty-free access for 3,500+ products under the UK’s Developing Countries Trading Scheme. Why This Matters  30% of Nigerian exports currently fail international standards  $1B+ potential in leather sector alone by 2025  Pilot focus on tea, coffee, cashew & leather – sectors with high global demand The UK Blueprint Institutional Upgrade Strengthening SON, NiNAS with cutting-edge testing labs Deploying British technical experts to Nigerian SMEs Implementing National Quality Policy SME Empowerment Hands-on training for 1,200+ businesses by 2026 Solving metrology gaps in measurement standards Creating export-ready certification pathways Leather Sector Transformation…

Olusola Onoja, founder of DMC Fashion Academy and a trailblazer in Nigeria’s fashion scene, has been recognised by the Rotary Club of Ibadan Gold for her transformative work in fashion education and entrepreneurship. With 18+ years of experience, Onoja has not only built a reputation for innovative designs but also dedicated herself to uplifting underserved communities through vocational training. Through her academy, she has democratized fashion education, offering free training programs and fostering inclusivity for aspiring designers from all walks of life. In her acceptance speech, Onoja stressed the role of sustainability, innovation, and leadership in fashion, sharing her vision of a connected industry where designers, entrepreneurs, and manufacturers collaborate for growth.…

Nigerian billionaire Femi Otedola is pulling back the curtain on his rags-to-riches journey with his new book, Making It Big, now available for pre-order. Priced at $27.99 (hardcover) and $19.99 (paperback), the memoir blends personal anecdotes with hard-earned business lessons—from his first billion to dramatic losses and comebacks. Readers who order within 10 days of August 18, 2025, will get early delivery. More Than a Memoir Otedola calls the book a “guide for the next generation”, offering candid insights into his mindset during crises, like losing his fortune and rebuilding it. On social media, he teased: “Doors are opening for African entrepreneurs like never before. This is the story of how…