Author: Gift Ifeanyi

In a small rural community in Ondo State, 40-year-old widow and mother of four, Yemisi Michael, represents the harsh reality of millions of Nigerians living under the weight of economic hardship. After the death of her husband three years ago, she took on multiple jobs just to feed her children. During the 2023 elections, hope seemed within reach when politicians came bearing promises and handouts. Yemisi was one of the few “lucky” recipients—gifted a grinding machine as part of a supposed empowerment initiative. But like many of such gifts, it was short-lived. Just a month in, the machine broke down.…

 As Nigeria continues to grapple with the challenges of an evolving global economy and rising youth unemployment, there is growing consensus that reforming the education system to prioritize practical skills acquisition is essential. A proposed model urges secondary schools to dedicate three days to theoretical learning and two to hands-on vocational training, such as tailoring, carpentry, agriculture, and digital literacy. This approach is not only timely but vital, especially in the wake of Nigeria’s poor performance in the 2023 Coursera Global Skills Report, where the country ranked 100th out of 100 globally and 12th out of 13 in Sub-Saharan Africa.…

At the 2025 Marketplace Leadership Conference held in Abuja, economists, entrepreneurs, and religious leaders raised concerns about the damaging impact of unethical business practices on Nigeria’s economy, calling for a return to integrity and value-driven leadership in commerce and governance. Speaking at the event, Manasseh Dogon, Lead Steward of The Metropolitan Church and Executive Director of Maime Foundation, criticized widespread dishonesty in both the corporate and religious spheres. He emphasized that ethical leadership and business conduct are essential for meaningful economic advancement. “Africans have consistently underestimated the role of ethics in business,” Dogon said. “We are not men of our…

President Bola Ahmed Tinubu has extended heartfelt congratulations to Dr. Awele Elumelu, Chairperson of Avon Healthcare Limited, on the occasion of her 55th birthday, lauding her exceptional contributions to national development, particularly in the healthcare and empowerment sectors. In a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described Dr. Elumelu as a distinguished physician, devoted wife and mother, entrepreneur, and philanthropist, whose commitment to improving lives has earned her national and global recognition. Championing Healthcare Access Across Africa President Tinubu applauded Dr. Elumelu’s visionary leadership at Avon Healthcare Limited and Avon Medical Practice,…

Sofri, powered by Links Microfinance Bank, has unveiled a bold transformation strategy designed to revolutionize access to credit and financial services for individuals and small businesses across Nigeria. At a recent media event in Lagos, the company introduced a series of innovations, including a revamped mobile app, a new Corporate Internet Banking (CIB) platform, and AI-powered credit scoring tools. Bridging the Credit Gap with AI and Alternative Data Sofri’s Managing Director, Paul Adebayo, highlighted the core issue facing Nigeria’s lending ecosystem: poor access to reliable data, which hinders effective risk assessment by lenders. “The credit industry in Nigeria suffers from…

Nigeria’s marketing and advertising sector holds immense potential but remains underdeveloped compared to smaller African economies like South Africa and Kenya. This imbalance, fueled by economic volatility, currency instability, and insufficient policy support, presents both a challenge and an opening for forward-thinking agencies. In this interview, Mahmood Oyewo, Managing Director of Bracken Media Solutions, discusses the current realities of the Nigerian marketing landscape, how his agency is leveraging technology, and what must change for the country to compete on the global stage. What motivated your decision to launch a marketing agency in Nigeria? After spending over 15 years in the…

Founder of Gotomo Farms and Wildlife Services, Mr. Abubakar Gotomo, has called on Nigerian youth to tap into the vast opportunities within agribusiness as a reliable route to financial independence and national development. Speaking in Diko, Niger State, during an interview with the News Agency of Nigeria (NAN), Gotomo emphasized that modern agriculture, when pursued with best practices, can generate sustainable income and transform livelihoods in a short time. Agribusiness: A Pathway to Prosperity Gotomo encouraged young Nigerians, especially fresh graduates, to pursue agriculture as a viable career rather than wait for white-collar jobs. “Agriculture is a venture where you…

In a groundbreaking move poised to reshape Africa’s mineral landscape, the Nigerian Government has endorsed a $400 million Foreign Direct Investment (FDI) agreement for the establishment of the continent’s largest rare earth and critical minerals processing facility in Nasarawa State. The ambitious project, led by Hasetins Commodities Limited, is expected to create over 10,000 jobs across Nigeria while advancing the country’s economic diversification through local value addition in the solid minerals sector. Strategic Investment for National Growth The initiative aligns with President Bola Tinubu’s value addition agenda, which prioritizes in-country mineral processing as a pathway to job creation and industrial…

Ejike Egbuagu, a Harvard-educated finance expert and the CEO of Moneda Invest Africa, is rewriting the rules of African development through a unique mix of finance, innovation, and cultural empowerment. With over a decade of experience in banking, trade, and deal structuring, Egbuagu has emerged as a key player in unlocking alternative financing for African SMEs, particularly within the energy sector. Under his leadership, Moneda has mobilised more than $200 million to fuel sustainable growth across the continent. In a recent interview, Egbuagu shared how Moneda’s journey began during Nigeria’s 2015 FX crisis—a pivotal moment that exposed the fragility of…

In a bold redefinition of how Africa’s youth can approach business, Chijioke Okonkwo—Group CEO of the global enterprise Goltava Group—delivered a compelling message on the urgent relevance of artificial intelligence (AI) during a high-impact executive bootcamp focused on digital transformation. Addressing a diverse group of aspiring entrepreneurs at the Digital Business Executive Bootcamp powered by Upkamp, the Germany-based business leader dismantled the notion that AI is a distant or elite concept. Instead, he positioned it as an accessible, immediate engine for creating scalable solutions, launching tech-enabled ventures, and reshaping Africa’s role in the global economy. “AI isn’t waiting for anyone.…

As Nigeria readies to enforce its nationwide ban on single-use plastics (SUPs) in federal ministries, departments, and agencies starting July 1, 2025, stakeholders from across the manufacturing, recycling, and waste management sectors are raising red flags over the policy’s potential to destabilize small and medium enterprises (SMEs). The ban, spearheaded by the Federal Ministry of Environment, is part of Nigeria’s broader climate and sustainability agenda. However, industry experts argue that the policy, while well-intentioned, is being rolled out too rapidly and without sufficient support structures, which could severely impact local manufacturers, many of whom are already strained by inflation and…

DLM Capital Group has unveiled a ₦30 billion financial instrument aimed at expanding credit access to Nigeria’s underbanked and underserved sectors. The move is part of a broader push to strengthen financial inclusion and support economic diversification through increased lending to small businesses and consumers. Announced at a recent media parley in Lagos, the newly launched Sovereign Bond-Backed Composite Notes are designed to unlock credit for micro, small and medium enterprises (MSMEs), nano businesses, and other underfunded sectors of the economy. Enhancing Financial Inclusion and Market Stability Speaking at the event, Dr. Sonnie Babatunde Ayere, Chairman of DLM Capital Group,…

The Osun State Government has reaffirmed its strong commitment to supporting micro, small, and medium-scale enterprises (MSMEs), recognizing their central role in driving economic development and job creation. Speaking to journalists in Osogbo, the State Commissioner for Commerce and Industry, Reverend ‘Bunmi Jenyo, emphasized that Governor Ademola Adeleke’s administration has placed small businesses at the heart of its industrialization policy. “Reviving the state’s economy was a major assignment given to our Ministry. We designed a comprehensive policy for industrial development which has served as our roadmap since inception,” Jenyo stated. Key Industrial Partnerships and Investment Prospects Jenyo highlighted several initiatives…

Africa must embrace a new financing model tailored to its unique economic landscape if it hopes to empower small and medium enterprises (SMEs) and drive true continental growth. This was the resounding message from stakeholders, policy advocates, and financial experts at the 10th SME Conference organised by Wider Perspectives Limited (WPL), held in Port Harcourt, Rivers State. Delivering the keynote address, Ebiekure Jasper Eradiri, President of the All Africa SMEs and a pioneer figure in continental SME advocacy, emphasized that SMEs represent 80% of Africa’s economy, yet continue to be stifled by outdated, colonial-era lending models. He stressed the need…

Global index provider MSCI Inc. has announced it will require additional time to evaluate Nigeria’s foreign exchange (FX) reforms, delaying any potential reclassification of the country’s market status. This means Nigeria is unlikely to regain its position in the MSCI Frontier Markets Index during the upcoming annual classification review slated for June 24. MSCI acknowledged improvements in Nigeria’s FX liquidity due to recent operational changes but emphasized that uncertainties remain. The company stated in its annual market accessibility report that while reforms have been introduced, “more time is needed to assess the impact of these changes.” Nigeria was removed from…

Former Labour Party presidential candidate Peter Obi has strongly condemned the Nigerian National Petroleum Company Limited (NNPC Ltd) following revelations of alleged financial irregularities totaling N210 trillion, uncovered in a recent Senate audit report spanning 2017 to 2023. In a statement shared via X (formerly Twitter) on Friday, Obi described the scale of the financial discrepancies as “staggering and shameful,” asserting that Nigeria has become a “crime scene” of systemic corruption and impunity. “How else does one explain the recent revelation by the Senate, which uncovered N210 trillion in financial irregularities? N103 trillion in so-called ‘accrued expenses’ and another N107…

Nigerians may soon experience a notable reduction in petrol pump prices, thanks to the growing impact of the Dangote Refinery and broader shifts in the nation’s energy sector. This projection was made by Ifeayi Ubah, Head of Investment Research at Comercio Partners Limited, during an interview on ARISE TV. Ubah attributed the expected price drop to Dangote’s alignment with global crude price trends, noting that recent reductions in Dangote’s prices mirrored dips in international markets. “The refinery is responding to global prices. When international prices fell, Dangote adjusted accordingly,” he said. Nigeria’s energy landscape is undergoing a transformation as the…

Global logistics leader DHL Group has announced a major investment of €500 million (approximately US$575 million) over the next five years to scale up its healthcare and logistics infrastructure across Africa and the Middle East. The move signals DHL’s intensified focus on strengthening supply chains for critical medical shipments while positioning the region as a central player in global commerce. The ambitious expansion plan—part of DHL’s broader €2 billion global healthcare investment strategy—will target key markets such as South Africa, Egypt, Kenya, the United Arab Emirates, and Saudi Arabia. The initiative is set to enhance the handling of essential and…

As global tech platform Glovo celebrates a decade of innovation, the spotlight is turning to Nigeria—a key market fueling the company’s next wave of expansion and impact. Since entering the Nigerian market in 2021, Glovo has become a critical enabler of digital commerce, entrepreneurship, and economic inclusion, cementing its role as more than just a delivery app. In its newly released Yellow Effect Report, Glovo details how its presence in Nigeria has reshaped local business dynamics, contributed to the country’s booming Q-Commerce sector, and driven widespread adoption of digital tools. The report reveals that between 2021 and 2024, Nigerian merchants…

Despite mounting macroeconomic pressures, Nigeria’s largest corporations demonstrated resilience in 2024 by sustaining high employment levels and investing heavily in their workforce. The top ten employers listed on the Nigerian Exchange (NGX) collectively provided jobs for 84,491 people, reflecting their critical role in bolstering employment across the country. According to financial data compiled by Nairametrics Research, these corporations—operating in sectors such as banking, consumer goods, and industrial manufacturing—spent a combined ₦1.695 trillion on salaries in 2024 alone. The figures highlight the importance of large enterprises in supporting Nigeria’s labor market, especially at a time when the nation’s youth face considerable…