Author: Gift Ifeanyi

Nigeria spent an astonishing ₦930 billion on fuel imports in February 2025, even with increased production from local refineries. This situation raises concerns about the country’s ongoing reliance on foreign petroleum products. Official data indicates that oil marketers licensed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) imported 701.75 million liters of petrol and 265.88 million liters of diesel just in February. This is part of a larger trend, with ₦5.5 trillion spent on fuel imports between October 2024 and January 2025. Ogbugo Ukoha, the Executive Director of Distribution, Systems, Storage, and Retailing Infrastructure at NMDPRA, defended the…

Nigeria’s Small and Medium Enterprises (SMEs) have contributed nearly 48 percent to the country’s Gross Domestic Product (GDP) in the last five years, according to reports from the National Bureau of Statistics (NBS) and PwC. Notably, women-led businesses account for only about 33 percent of the total SMEs in Nigeria, a situation that experts have identified as a gender imbalance in the SME sector. Many female entrepreneurs in Nigeria struggle to access digital opportunities that would enable them to be profitable, seize industry chances, and expand their reach. Recognizing this gap, Jiji Africa, in partnership with the Association of Small…

Nigeria is a country rich in opportunity but also faced with complex challenges. For wealthy Nigerians, balancing these two extremes can be difficult. A diverse investment portfolio can help spread risk and create new opportunities, ensuring long-term value. However, many high-net-worth individuals (HNWIs) in Nigeria still face significant barriers to global mobility and opportunity due to the limitations of their passports. Consequently, Nigerian HNWIs are increasingly exploring residency and citizenship options abroad, effectively diversifying not just their assets but also their geographical domicile options. According to Henley & Partners, Nigerians were among the top five nationalities to inquire about investment…

On March 6, 2025, the United Kingdom, in collaboration with the Centre for Strategy and Evaluation Services (CSES), initiated a transformative research project titled “Regulatory Reform for Businesses and Consumers in ASEAN Countries – Understanding Potential Impacts on Gender Equality and Micro, Small & Medium Enterprises.” This comprehensive study, launched under the Regulatory Reform pillar of the ASEAN-UK Economic Integration Programme, aims to delve deeply into the myriad challenges faced by businesses across the ASEAN region while identifying actionable opportunities for fostering inclusive policymaking. It particularly seeks to illuminate how regulatory reforms can effectively bolster the position of women entrepreneurs…

Nigeria’s economic policies are producing positive outcomes, with the country achieving a trade surplus of $16 billion, rising foreign reserves, and increased investor confidence, according to the Presidency. In a recent interview, Sunday Dare, the Special Adviser to the President on Media and Public Communications, attributed this economic boost to the bold policy decisions made by President Bola Ahmed Tinubu’s administration. These decisions have stabilized the financial sector, improved regulatory transparency, and enhanced Nigeria’s appeal as an investment destination. “President Tinubu has taken decisive steps to stabilize the naira, curb inflation, and boost production. As a result, global investors are…

With inflation easing to 24.5% in January, rising foreign direct investment (FDI) inflows, and an expanding gross domestic product (GDP), Nigeria’s economy is recovering faster than many analysts anticipated. Meanwhile, the Central Bank of Nigeria (CBN)-led Monetary Policy Committee’s decision to maintain interest rates at its last meeting has fueled a rally in Nigeria’s Eurobond market, reinforcing foreign investors’ confidence in the domestic economy. Undoubtedly, the Nigerian economy has the potential to attract and sustain foreign investors’ interest.   Several macroeconomic indicators are improving, and the expanded GDP size is drawing savvy investors back to the country. Investment reports show that…

Rising cocoa prices are generating increased interest in positioning Nigeria as a significant player in the cocoa industry, with aspirations to compete with leading producers Ivory Coast and Ghana, where crops have suffered due to climate change and disease. Nigeria has faced challenges in diversifying its oil-dependent economy, but the surge in global cocoa prices, which reached a record $12,000 per ton in December, has drawn renewed attention to cocoa bean production. “The farmers have never had it so good,” stated Patrick Adebola, executive director at the Cocoa Research Institute of Nigeria, in an interview with Agence France-Presse (AFP). This…