Author: Gift Ifeanyi

LAGOS – Nigeria has thrown its weight behind a $40 billion trade financing initiative led by Afreximbank, targeting Africa’s $120 billion trade finance gap and accelerating the continent’s economic integration under the African Continental Free Trade Area (AfCFTA). The announcement came during the 2025 Intra-African Trade Fair (IATF) Business Roadshow in Lagos, where policymakers and business leaders outlined Nigeria’s strategy to dominate intra-African trade. Key Highlights 1. Afreximbank’s $40B Funding Boost Sectors Covered: Petroleum, fertilizers, logistics, fashion, and creative industries. Goal: Eliminate trade barriers and create a seamless continental market. Quote from Afreximbank’s Kanayo Awani: “This financing will empower African businesses to trade more efficiently and compete globally.” 2. Nigeria’s…

ABUJA, Nigeria – The Federal Ministry of Solid Minerals Development has unveiled plans for the 4th African Natural Resources and Energy Investment Summit (AFNIS 2025), scheduled for July 15-17, 2025 in Nigeria’s capital. This year’s edition marks a strategic shift from policy discussions to concrete investment deals and SME growth opportunities across Africa’s resource sectors. Key Summit Highlights 1. Theme & Focus “Harnessing Local Content for Sustainable Development” Special emphasis on investment-ready projects and SME scalability Over 1,000 attendees expected, including: ✓ Mining & energy startups ✓ Manufacturing SMEs ✓ Institutional investors ✓ African policymakers 2. SME Opportunities Investment Matchmaking: Connect with global financiers and development banks Innovation Showcase: Exhibit cutting-edge solutions in:…

LAGOS, Nigeria – Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank (ALAT), has reaffirmed its commitment to MSME growth by awarding N3 million in business grants to three outstanding leather entrepreneurs at the Lagos Leather Fair 2025. The winners—selected through a competitive pitch session—each received N1,000,000 to scale their businesses: EwaOluwa Morenikeji (House of Ewa Limited) – Luxury leather bags Joy Fache James (Paciencia) – Handcrafted leather goods Fatima Yusuf (House of Zibima) – Contemporary leather accessories Why This Matters  Empowering Artisans: Grants enable access to better machinery, materials, and market expansion. Boosting Nigeria’s Leather Industry: A sector with $1 billion export potential (NEPC). Wema Bank’s Track Record: N300B+ disbursed…

SOFIA, Bulgaria – Olatunde Mustapha, CEO of Datesstore Nigeria Limited, has been named African Young Entrepreneur of the Year at the Bulgaria-Nigeria Forum, recognizing his pioneering work in agro-processing and Nigeria’s untapped potential as a global dates producer. Why This Matters  Pan-African Recognition: Mustapha’s award highlights Nigeria’s agro-export potential on the world stage. Economic Collaboration: His proposal for Nigeria-Bulgaria agro-processing partnerships could open European markets for Nigerian dates. Innovation in Agriculture: Datesstore positions dates as health-focused superfoods, not just fruit. Key Insights from Mustapha’s Speech ✔ Nigeria’s Advantage: Ideal climate for large-scale dates production ✔ Bulgaria’s Role: Advanced processing tech and EU market access ✔ Vision: Joint processing plants in Nigeria Premium health products (date syrups, energy bars) Job creation through…

LAGOS, Nigeria – Teesas Education, a leading African edTech platform, has unveiled its 2025 Summer School Programme, designed to equip children and teenagers (ages 8–18) with cutting-edge STEM, vocational, and entrepreneurial skills during the holiday break. Programme Highlights  Dates: Cohort 1: July 21 – August 21 Cohort 2: August 11 – 28 Locations: Ikeja & Lekki, Lagos  Curriculum: ✔ Tech & Innovation: Coding, AI, animation, graphic design ✔ Vocational Skills: Phone/tablet repairs, digital arts ✔ Entrepreneurship: Business ideation, pitch training, startup funding opportunities ✔ Exam Prep: UTME/WAEC readiness via adaptive testing ✔ Leadership: Lessons from “The 7 Habits of Highly Effective Teens”  Unique Opportunity: Live pitch session with top entrepreneurs (including a billion-dollar startup…

LAGOS, Nigeria – Ecobank Nigeria, in partnership with Heave Ventures, has unveiled InnovateX, a groundbreaking competition offering N20 million in prizes to young Nigerian innovators in creative arts and STEM (Science, Technology, Engineering, and Mathematics). Key Details  Target: Nigerians aged 16–25 (creatives & STEM enthusiasts) Prize Pool: N20M shared among top 10 winners Features: ✔ Hybrid boot camps (expert-led training) ✔ Pitch workshops & mentorship ✔ Grand finale with industry judges ✔ International exposure opportunities  STEM Track: Developers, engineers, and tech innovators Creative Track: Designers, artists, and content creators Why This Matters  Business Skills for Creatives: Teaches monetization, branding, and scaling Tech Commercialization: Helps STEM talents pitch ideas to investors Financial Inclusion: Promotes Ecobank’s Blaze Account for…

ADO-EKITI, Nigeria – Ekiti State Governor Biodun Oyebanji has reaffirmed his administration’s commitment to transforming Ekiti into a top investment destination in Nigeria, unveiling new policies to eliminate bureaucratic bottlenecks, improve infrastructure, and fast-track business growth. The pledge was made during a Presidential Enabling Business Environment Council (PEBEC) Town Hall Meeting in Ado-Ekiti, where state officials and private sector leaders discussed strategies to boost investor confidence. Key Reforms Underway  Zero Fees for Business Registration – Waivers for new enterprises One-Stop Investment Shop – Speedy permits via Ekiti State Development & Investment Promotion Agency (EKDIPA) Transition Law – Ensures continuity of projects across administrations Investor Aftercare Program – Ongoing support for businesses post-setup Power & Infrastructure Upgrades – Improved…

NORTHERN NIGERIA – At 34, Osomobegbe Eugene has turned a university project into Osomobegbe Global Ventures (OGV), a solar drying enterprise helping 4,000+ smallholder farmers preserve their crops and boost incomes. His innovation tackles Nigeria’s 40% post-harvest losses, earning him recognition as a pioneer in sustainable agritech. From Classroom to Farm: The OGV Story  2010: Started prototyping solar dryers as a student using transport allowance and teaching earnings. 2019: Officially launched OGV after securing a $5,000 grant, scaling from 300 to 4,000 farmers. 2024: Operates industrial-scale dryers for tomatoes, fish, mangoes—extending shelf life to 1+ year. Key Partners: Palladium, local farming cooperatives, state agricultural agencies. How OGV’s Solar Dryers Work  Locally Sourced…

LAGOS, Nigeria – At just 27, Chibunna Ogbonna, founder of Kiru Energy, is revolutionizing Nigeria’s renewable energy sector—one solar panel at a time. His cleantech startup, which began as a solo venture in 2017, now powers homes and businesses across Nigeria with minigrids, rooftop solar, and battery inverters, while creating jobs for young Africans. From ₦1,850 to ₦15M: The Kiru Energy Journey  2017: Launched with $5 for a logo and a dream. 2018: Secured first grant ($250), incorporated the company. 2020: Won $10,000 in CleanTech Hub’s accelerator, scaled operations. 2024: Hit ₦15M revenue, installed 250+ kW of solar, served 30+ clients. Chibunna’s Inspiration: “Bill Gates started Microsoft at 19. I knew age…

ABUJA – In a major push to foster youth entrepreneurship, the Federal Government has unveiled a N50 million Student Grant Venture Capital Initiative to support scalable student-led businesses across Nigerian universities. Education Minister Dr. Tunji Alausa announced the scheme on Wednesday during the inauguration of the Research and Innovation Commercialisation Committee (RICC), emphasizing its role in bridging the gap between academia and industry. Key Details of the Initiative  Target Beneficiaries: 300-level+ undergraduates with market-ready innovations. Startups with proven business models seeking expansion capital.  Focus Areas: Converting student research into commercial products/services. Boosting globally competitive enterprises from Nigerian campuses.  Partnerships: TETFund (Anchor) Bank of India (Funding/Technical Support) Why This Matters  Economic Shift: Aligns with Tinubu’s…

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a pivotal achievement in the construction of the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline, confirming the successful crossing of the River Niger—one of the project’s most challenging phases. The milestone was disclosed on NNPC’s official X (formerly Twitter) account and further elaborated by Group Chief Executive Officer (GCEO) Bayo Ojulari during his keynote speech at the Nigeria Oil and Gas Energy Week Conference in Abuja. A Transformational Energy Project The 614-kilometer, 40-inch pipeline—stretching from Ajaokuta in Kogi State to Kano—is one of Nigeria’s most critical energy infrastructure developments. Once completed, it is expected to: Enhance domestic gas supply Boost power…

Across Africa, beauty brands are turning masterclasses into a powerful tool for engagement, education, and sales. These events—blending hands-on learning with entertainment—are helping global and local brands connect with consumers in a market hungry for immersive beauty experiences. A New Era of Beauty Engagement In June, Maybelline (owned by L’Oréal) hosted Glamland, its first-ever beauty convention in Lagos, Nigeria. The event drew 500+ makeup artists, influencers, and enthusiasts for masterclasses led by Nigerian artist Bimpe Onakoya and British-Jamaican TikTok star Mikai McDermott. Alongside tutorials, the event featured panel discussions, interactive booths, and live music—creating a festival-like atmosphere. Other brands are following suit: Kylie Cosmetics held a masterclass at Arc Store in South Africa. Fenty Beauty hosted…

KANO – In a landmark achievement for youth empowerment, 95 young Nigerians have graduated from the Digital Entrepreneurship for Nigerian Youth Programme, a transformative initiative blending agriculture with digital innovation. The ceremony, held in Kano on Saturday, was hailed as a turning point for economic and technological advancement in the region. A New Generation of Agri-Tech Leaders Presided over by Alhaji Abdussalam Abdulkareem Zaura, President of the AA Zaura Foundation International, the graduation marked the culmination of an intensive training program developed in partnership with the University of Sunderland and London Academy Business School. “This is not just about certificates—it’s about equipping our youth to become job creators,…

PORT HARCOURT – In an innovative approach to tackling pipeline vandalism, the Africa’s Hub for Skills and Enterprise Development (AHSED) has launched a youth empowerment program aimed at providing digital skills and entrepreneurship training as alternatives to illegal oil bunkering in the Niger Delta. The “Secure the Pipeline, Secure the Future” (SSE) project, announced by AHSED founders Wisdom Aghoghovwia and Barry Chukwuemeke Wonder, seeks to engage at-risk youth in oil-producing communities, offering them economic opportunities that deter involvement in pipeline sabotage. From Vandalism to Valuable Skills The initiative kicked off in Ogbijo, Delta State, where AHSED conducted community sensitization campaigns, educating nearly 1,000 youths and residents on the environmental and economic dangers of pipeline vandalization. Digital skills training (coding,…

As Nigeria’s economy transforms, driven by technology, sustainability, and innovation, professionals and entrepreneurs must adapt to stay ahead. Here are seven high-demand skill areas that will shape careers and businesses over the next decade: 1. Data Science & Artificial Intelligence Why it matters: Businesses in finance, healthcare, and logistics rely on data-driven decisions. Key skills: ✔ Python programming ✔ Machine learning & predictive analytics ✔ Data visualization (Power BI, Tableau) Opportunities: AI solutions, fraud detection, supply chain optimization. 2. Renewable Energy Technologies Why it matters: Nigeria’s energy transition demands solar, wind, and battery storage expertise. Key skills: ✔ Solar panel installation & maintenance ✔ Microgrid design ✔ Energy efficiency consulting Opportunities: Rural electrification, green startups, government projects.…

LAGOS, Nigeria – In a landmark move for Nigeria’s digital economy, MTN Nigeria has launched the Dabengwa Data Centre, a $150 million state-of-the-art facility in Lagos, with plans to invest an additional $135 million in expansion. Named after Sifiso Dabengwa, former MTN Group CEO, the centre is positioned as West Africa’s largest modular data hub, designed to accelerate Nigeria’s cloud independence and data security. A New Era for Nigeria’s Digital Infrastructure The 14MW-capacity facility is built to Tier III standards, featuring: ✔ 1,500+ server racks ✔ AI-driven cooling & security systems ✔ High-density workload support (up to 20kW per rack) ✔ Full compliance with Nigeria’s Data Protection Act (NDPA) Complementing the infrastructure is MTN Cloud, a locally-hosted Infrastructure-as-a-Service (IaaS)…

ABUJA – The Central Bank of Nigeria (CBN) has called on telecom operators to invest in local manufacturing of critical equipment like SIM cards, cables, and towers, as part of efforts to reduce dollar dependency, create jobs, and stabilize the economy. CBN Governor Olayemi Cardoso made the appeal during a meeting with Airtel Africa’s leadership, led by Group CEO Sunil Taldar, in Abuja. He emphasized that backward integration—producing key inputs locally—will help conserve foreign exchange and strengthen Nigeria’s industrial base. Why Local Production Matters ✔ Reduces FX pressure – Cuts import costs, easing naira volatility. ✔ Creates jobs – Boosts employment in tech and manufacturing. ✔ Enhances security – Limits reliance on foreign supply chains. Cardoso assured telecom…

LAGOS – Nigerian corporations are increasingly turning to Commercial Papers (CPs) for short-term financing, with issuances skyrocketing from ₦3 billion to ₦193 billion across diverse sectors. This shift comes as businesses seek relief from sky-high bank loan rates exceeding 30%, driven by the Central Bank’s 27.5% Monetary Policy Rate (MPR). Who’s Issuing – And at What Yields? Leading the pack is Access Bank, which raised ₦193.25 billion across two series at 21.5%–24.75% yields. Other notable issuers include: MeCure Industries (Healthcare) – ₦10B at 26% Daraju Industries (Manufacturing) – ₦4B at 25% Finceptive Ltd. (Fintech) – ₦3B oversubscribed FCMB – ₦70B dual-series offer According to FMDQ Securities Exchange, total CP programs now exceed ₦8.19 trillion, with ₦7.23 trillion already quoted. Why Companies Are Ditching Bank Loans…

LAGOS – Nigeria’s public debt surged to ₦149.39 trillion ($97.24 billion) in Q1 2025, marking a 22.8% increase (₦27.72 trillion) from 2024, according to the Debt Management Office (DMO). Despite the staggering borrowing, economists warn of minimal infrastructure improvement and an unsustainable fiscal trajectory where debt servicing (₦25.12 trillion from 2022–2024) has exceeded government revenue (₦20.6 trillion) by ₦4.5 trillion. Key Debt Breakdown  External Debt: ₦70.63 trillion ($45.98B) – Up 26.1% YoY Domestic Debt: ₦78.76 trillion ($51.26B) – Up 20% YoY Federal Government: ₦74.89 trillion States & FCT: ₦3.87 trillion Alarming Metrics: Debt-to-GDP: 54% (2024), projected to rise in 2025 Debt-to-Revenue: 121% (2022–2024) Experts Sound the Alarm 1. Mazi Okechukwu Unegbu (Ex-CIBN President): “We’ve borrowed trillions, yet roads, power, and the economy remain broken.…

LAGOS – With the 4th Intra-African Trade Fair (IATF2025) set for September 4–10 in Algiers, Nigeria is rallying its SMEs and creative entrepreneurs to tap into Africa’s $3.4 trillion single market under the African Continental Free Trade Area (AfCFTA). Why Nigerian Businesses Must Act Now  Access to Buyers & Investors: Direct deals with continental partners. Policy Influence: Shape AfCFTA implementation through high-level talks. Non-Oil Export Growth: Key focus on fashion, tech, film, and professional services. Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, stated: “IATF is Nigeria’s gateway to African markets. We’re launching a national IP policy to empower innovators and ensure they reap the benefits of AfCFTA.” Nigeria’s…