Author: Gift Ifeanyi

In the heart of Nigeria’s economy lies a paradox: micro, small, and medium enterprises (MSMEs) sustain nearly 88 percent of employment and contribute almost half of national GDP — yet they remain starved of the fuel needed to accelerate growth. The financing gap that holds them back now stands at an estimated ₦13 trillion, a staggering figure that reflects not failure, but potential waiting to be unlocked. Speaking at the 2025 Annual Directors Conference of the Chartered Institute of Directors in Abuja, Kola Adesina, Managing Director of Sahara Group, challenged Nigeria’s business and policy leaders to look beyond balance sheets…

At a time when Africa’s economic destiny depends on the bridges it builds, MTN Nigeria is positioning itself as a key architect of continental integration — one powered by trust, technology, and trade. During the Nigeria–South Africa Economic Diplomacy Roundtable in Lagos, MTN Nigeria’s Chief Executive Officer, Karl Toriola, delivered a message that went beyond corporate strategy — it was a blueprint for Africa’s next growth chapter. “MTN is here to stay in Nigeria,” Toriola declared. “Our focus is to turn intent into execution, creating a trusted Nigeria–South Africa corridor where trade, talent, and innovation can move seamlessly.” For Toriola,…

In a world where regulations evolve faster than innovation, one Nigerian startup is daring to bring clarity to the chaos. Lexlytic, co-founded by Chioma Wilson-Dike and Wilson Dike, is building what could become Africa’s first truly intelligent compliance ecosystem — a platform where artificial intelligence meets law to simplify, automate, and connect the continent’s tangled web of regulatory systems. What began as a question — “Why is compliance still so manual in an era of automation?” — is now evolving into a movement. Across Africa, organizations spend huge amounts of time and money simply trying to stay compliant. From banks…

In a rapidly evolving financial landscape, TAJBank Limited has emerged as the dominant force in Nigeria’s non-interest banking (NIB) sector, redefining how small and medium-sized enterprises (SMEs) access capital and manage growth. Over just five years, the bank has positioned itself as the NIB subsector leader, with total assets surpassing N1 trillion in the first half of 2025 and gross earnings climbing to N53.75 billion, a 64% increase from December 2024. Its earnings per share of N61.36 kobo further cements its advantage, nearly doubling that of the nearest competitor. These figures, verified through regulatory filings, highlight the strategic rise of…

Lidya, a Nigerian digital lending platform serving small and medium-sized enterprises (SMEs), has officially ceased operations, citing severe financial challenges. The announcement, communicated via email to customers, confirmed that the company can no longer continue business or process outstanding claims. “Despite best efforts to restructure and sustain operations, the company has encountered severe financial distress and is no longer able to continue in business. As a result, the company has ceased all operations,” Lidya stated. The notice added that the company is unable to process funds or settle claims at this time. Founded in 2016 by former Jumia executives Tunde…

In a rapidly evolving financial landscape, Access Bank Plc is redefining what it means to be customer-centric. At an exclusive SME Roundtable in Abuja, Deputy Managing Director Chizoma Okoli reinforced the bank’s commitment to small and medium-sized enterprises (SMEs) while outlining a bold strategy to leverage technology for the benefit of over 60 million customers across Nigeria and beyond. “We want to hear from you — what we’re getting wrong, what we’re getting right, and what we should be doing differently. That’s how we can keep growing together,” Okoli said, underscoring a philosophy of humility and responsiveness that has guided…

In a decisive step toward reinforcing Nigeria’s financial sector, the House of Representatives Committee on Banking Regulations convened a public hearing on Thursday in Abuja to deliberate on two pivotal bills designed to enhance transparency, protect consumers, and expand financing options for small and medium-sized enterprises (SMEs). The session, chaired by Hon. Mohammed Bello El-Rufai, focused on: HB. 516 – A Bill to Regulate Factoring, Purchase of Receivables, and the Establishment, Operation, and Control of Factoring and Receivables Financing Businesses. HB. 1160 – A Bill to Amend the Banks and Other Financial Institutions Act (BOFIA) 2020. “These bills are central…

In a bold move to turbocharge Lagos’ entrepreneurial landscape, Ecobank Nigeria has teamed up with the Lagos State Employment Trust Fund (LSETF) to unlock new opportunities for Micro, Small, and Medium Enterprises (MSMEs) across the state. The partnership aims to provide business owners with the tools, networks, and guidance they need to scale, compete, and thrive in today’s dynamic market. The collaboration is more than just a strategic alliance—it’s a blueprint for sustainable growth. By combining Ecobank’s pan-African banking expertise with LSETF’s commitment to job creation and economic empowerment, Lagos’ entrepreneurs stand to benefit from a host of initiatives, including…

Nigeria’s journey toward full financial inclusion is reshaping the country’s economic landscape, unlocking new ways to mobilize domestic capital for development. According to Doris Uzoka-Anite, the Minister of State for Finance, the expansion of banking access has strengthened Nigeria’s ability to fund national projects without overreliance on foreign borrowing. In an interview with Semafor during the Next 3 Billion event in Abuja, Uzoka-Anite highlighted how the surge in internet connectivity and smartphone adoption has driven a decade-long financial inclusion boom. Today, about 64% of Nigerian adults own a bank or non-bank account — a major leap from under 25% in…

After nearly four decades of quietly exporting expertise and goodwill across continents, Nigeria’s commitment to global development has earned it a new position of influence — a full membership seat on the Total Official Support for Sustainable Development Goals (TOSSD) platform. For years, Nigeria’s contributions through the Technical Aid Corps (TAC) have supported education, healthcare, and professional capacity in developing countries — often without fanfare. Now, that dedication has been formally recognized on the world stage. At the TOSSD General Assembly Meeting in Madrid, Spain, Nigeria’s efforts were presented before representatives of 28 EU member states and other global stakeholders.…

Nigeria has emerged as a major hub for digital payments in Africa, fueled by mobile banking apps, fintech innovations, and USSD services that bring financial transactions to the fingertips of millions. In 2023 alone, electronic payments in the country soared to N600 trillion, a massive leap from N387 trillion the previous year—underscoring just how deeply digital finance has woven itself into everyday life. But alongside this impressive growth lies a growing vulnerability. Cybercriminals are exploiting gaps in systems, weak regulation, and limited consumer awareness to carry out increasingly sophisticated fraud schemes. Unlike in more advanced economies, where robust laws and…

Africa’s richest man, Aliko Dangote, is setting the stage for a new wave of investment in his $20 billion oil refinery — a project already reshaping the continent’s energy landscape. In a recent interview with S&P Global, Dangote revealed plans to sell between 5% and 10% of his stake in the Dangote Oil Refinery, opening the door for both local and international investors to buy into one of Africa’s most ambitious industrial ventures. The move is part of a broader strategy to raise fresh capital and accelerate the refinery’s next growth phase, which aims to expand capacity from 650,000 to…

Lagos, Nigeria – October 21, 2025 As Sheriff Deputies Limited (SDL) approaches its 25th anniversary, the company continues to strengthen its position as a leader in integrated security solutions through a deepening partnership with Multiforte Resource, a renowned name in electronic security technology. At the second strategic partnership meeting, held on Tuesday, October 21, 2025, at Sheriff Deputies’ headquarters, 61 Ondo Street, Irawo, Lagos, both teams advanced discussions toward creating a unified security ecosystem that combines manned guarding with smart electronic solutions. The session, facilitated by Dr. Island Anyasi, Managing Director of Sheriff Deputies, focused on refining the joint value…

Tucked in the Eastern Caribbean, Dominica offers one of the most affordable and respected citizenship-by-investment programs in the world. With a minimum investment of USD 100,000, Nigerians can acquire full citizenship within 3–6 months—and with it, visa-free or visa-on-arrival access to 140+ countries, including the UK, Schengen Area, Singapore, and Hong Kong. One Lagos-based tech founder described how Dominica’s passport changed his life. “Before, every European trip took weeks of paperwork. Now, I just book my flight and go.” That shift—from restricted to unrestricted movement—translates to real growth. Investors can now open offshore bank accounts, register international businesses, and negotiate…

Imo State is taking a bold leap into the future — one that blends innovation, education, and technology to secure lasting prosperity for its youth. Governor Hope Uzodimma has revealed plans to transform the state’s celebrated SkillUp Imo Initiative into a permanent institution through the creation of the University of Innovation, Science and Technology, Omuma — a move he described as a cornerstone for the state’s digital revolution. The announcement came shortly after the governor received the official certificate of approval from the National Universities Commission (NUC), marking the formal birth of a university designed to nurture the next generation…

Africa’s financial technology landscape is witnessing a new surge of confidence as Moniepoint Inc., one of Nigeria’s fastest-growing fintech giants, seals a landmark $200 million Series C funding round — solidifying its position among the continent’s billion-dollar disruptors. The latest injection of $90 million, backed by global heavyweights Visa Inc., Development Partners International (DPI), LeapFrog Investments, and Google’s Africa Investment Fund, represents far more than another funding story — it’s a signal that the world is finally betting big on Africa’s financial future.  A Global Vote of Confidence in African Innovation While many economies battle uncertainty, Africa’s digital finance revolution…

In a bold push to reshape Nigeria’s employment landscape, the Federal Government is set to roll out the second phase of the Nigeria Jubilee Fellows Programme (NJFP) — a transformative initiative expected to generate over 20,000 new jobs annually and open more pathways for youth entrepreneurship. Scheduled for launch on October 22, 2025, in Abuja, Vice President Kashim Shettima will officially unveil NJFP 2.0, signaling a renewed national commitment to bridge the gap between young talent and meaningful employment. The unveiling will coincide with a High-Level Policy Dialogue on Job Creation, themed “From Skills to Jobs and Enterprises: Driving Youth…

As Nigeria marks another milestone in its journey of nationhood, Senate President Godswill Akpabio has paid glowing tribute to former Head of State, General Yakubu Gowon (rtd.), describing him as a symbol of unity and resilience as he celebrates his 91st birthday. In a statement from Abuja on Monday, Akpabio reflected on Gowon’s pivotal role in steering Nigeria through one of its most defining eras — the civil war — and his unwavering dedication to reconciliation afterward. He noted that Gowon’s timeless policy of “No Victor, No Vanquished” continues to embody the spirit of peace and forgiveness that holds the…

In a nation where inflation bites and food remains the people’s greatest necessity, one company has managed not only to endure but to thrive — BUA Foods Plc, the quiet powerhouse redefining Nigeria’s consumer goods landscape. Barely four years after its formal creation, BUA Foods has grown from a merger experiment into a ₦1.5 trillion-revenue titan, anchoring Nigeria’s march toward food self-sufficiency. Behind the scenes, its strategy is simple yet formidable — control the staples, dominate the market, and feed the nation. A Merger That Sparked a Movement What began in 2021 as the union of five BUA Group subsidiaries…

In an era where traditional banking yields little to no reward, a growing number of Nigerians are turning away from financial institutions and reviving age-old investment methods — storing wealth in goods rather than in accounts. Across towns and cities, people are rediscovering an ancient form of savings: buying farm produce in bulk when prices are low, storing them, and selling during scarcity. What was once a rural survival trick has now become a national coping strategy in the face of economic uncertainty and shrinking purchasing power. From Bank Interest to Palm Oil Profits For Ahmedu Memunat, a tailor in…