Author: Gift Ifeanyi

Nigeria’s Dangote Petroleum Refinery has adapted its crude sourcing strategy by procuring its first two cargoes of Middle Eastern crude oil from ADNOC of the United Arab Emirates (UAE). This structural shift breaks the facility’s historical reliance on local and United States inputs; a 2025 S&P Global Commodity Insights analysis showed that Dangote had previously covered 70% of its feedstock via Nigerian crude and 24% from US grades. The sudden pivot to the Middle East capitalizes on a global supply easing through the Strait of Hormuz following an interim peace agreement between the United States and Iran. The shift into…

The Biodun and Ibikunle Foundation (BIF) has officially opened the application window for its flagship SEEDINVEST Acceleration Program 2026. Explicitly curated to scale grassroots commercial productivity, the initiative targets promising Nigerian nano, micro, and small-scale business owners with zero-fee technical training, industry mentorship, and capital infrastructure assets. Recognizing the severe credit and machinery bottlenecks that commonly choke early-stage businesses across Nigeria, the foundation is offering high-performing participants capital equipment grants valued at up to ₦5 million to directly expand production or retail lines. The selected cohort will undergo an intensive 6-week online corporate growth program, combining digital masterclasses, fiscal management…

Nombank, the regulated banking subsidiary of Nigerian fintech giant Nomba, has pivoted its corporate strategy to scale its footprint within the country’s highly competitive Small and Medium Enterprise (SME) sector. Historically restricted by the rigid underwriting frameworks of traditional lenders—which typically demand physical collateral, audited balance sheets, and extensive paperwork—millions of viable micro-merchants have remained systematically locked out of formal financial ecosystems. Led by Managing Director Seun Osunkeye, Nombank is bypassing legacy credit bureau blockages by using live point-of-sale (POS) and digital merchant payment histories as automated proxy collateral to evaluate creditworthiness in near real time. The data moat powering…

Intellectual property firm Inventa Nigeria has partnered with cosmetics distributor Beauty Hut Africa to host a specialized virtual masterclass titled “Protecting Beauty Innovations.” Facilitated by Angela Adebayo Agbe-Davies, Managing Director of Inventa Nigeria, the webinar focused on bridging the knowledge gap regarding legal asset protection within Africa’s multi-billion dollar cosmetics, skincare, and wellness wellness tech sectors. The curriculum was designed to equip startup founders with actionable frameworks to navigate the regulatory landscape and mitigate the risks of product counterfeiting. The training session detailed how various branches of intellectual property serve as critical competitive moats for emerging consumer brands. Adebayo Agbe-Davies…

The Vice-Chancellor of the Federal University Dutsin-Ma (FUDMA), Professor Muhammad Khalil Usman, has held strategic talks with the Chairman of Max Air and the AFDIN Group of Companies, Alhaji Dahiru Barau Mangal, to forge a partnership focused on research, industry innovation, and youth economic empowerment. Leading the university’s executive management team on a high-level courtesy visit to Mangal’s country home in Katsina, Professor Usman detailed the institution’s plan to commercialize academic research findings across its 60 active disciplines to address critical socio-economic challenges facing Nigeria. During the encounter, the Vice-Chancellor formally invited the industrialist to serve as the Special Guest…

The Corporate Social Responsibility (CSR) Department of the Redeemed Christian Church of God (RCCG), Region 59, has announced plans to host a major human capital development seminar themed “Empower Your Future: Skills for Business and Career Success.” Scheduled to take place on July 11, 2026, at the region’s headquarters, Victory Chapel in Magodo, Lagos, the interfaith economic empowerment initiative is curated to address pressing challenges surrounding contemporary youth unemployment, technological displacement, and the surging global demand for lean entrepreneurial skills. According to statements released by the Pastor-in-Charge of RCCG Region 59, Adewole Ajayeoba, and the Programme Coordinator, Pastor Kunle Eyitemi,…

Established in 2022 by founder Christina Akinrinde, Signature Snacks Global has grown from a localized venture into a structured food processing company addressing a critical deficit in Nigeria’s healthy food retail market. Spurred by personal wellness experiences and a visible lack of nutritious, accessible options for everyday consumers, the brand has scaled into a formally certified operation holding NAFDAC, SON, and FDA certifications across five foundational product lines. To insulate the enterprise from high input inflation and supply disruptions, Akinrinde has woven direct crop off-take agreements with local smallholder farmers directly into the company’s procurement architecture. A strategic corporate repositioning…

The Acting Director-General of the National Directorate of Employment (NDE), Edmund Onwuliri, has appealed to the Delta State Government to co-fund the resettlement of informal sector trainees under the Federal Government’s Renewed Hope Employment Initiative (RHEI). Speaking during a working visit to Asaba, Onwuliri met with the Secretary to the State Government (SSG), Dr. Kingsley Eze Emu—who represented Governor Sheriff Oborevwori—to advocate for joint interventions in enterprise creation. While the NDE successfully trained 891 individuals in its first phase and 1,067 in its second phase across various vocational, agricultural, and public works sectors, funding shortfalls meant that out of 380…

Nigerian entrepreneur Damilola has announced the launch of TC Gas, a new energy venture established to provide reliable power solutions for domestic and commercial markets. The new entity joins his existing businesses, including TC Agro and TC Horizone Properties—which was established in December 2023—forming a diversified corporate group focused on long-term wealth creation, food security, and infrastructure development. Reflecting on his entrepreneurial path, which began in 2015, the Ekiti State native explained that his career was inspired by a desire to help Nigerians preserve capital after watching families suffer from poor investment choices. His real estate arm, TC Horizone Properties,…

The European Investment Bank’s development arm, EIB Global, and the Development Bank of Nigeria (DBN) have signed a landmark €200 million credit facility at the DBN office in Lagos. The massive capital injection is explicitly structured to bridge long-standing financing gaps by providing affordable, long-term credit lines to local micro, small, and medium-sized enterprises (MSMEs), alongside mid-sized companies. By routing the funds through a network of domestic financial intermediaries, the partnership targets small-scale commercial investments in high-impact economic sectors, including clean energy, climate-smart agribusiness, digitalization, and technological innovation. EIB Vice-President Ambroise Fayolle highlighted that the initiative serves as a powerful…

To bridge the gap between academic qualifications and practical marketplace competencies, the National Agency for Science and Engineering Infrastructure (NASENI) has launched its Community Empowerment Initiative in Science, Technology, Skills Acquisition, and Renewable Energy. The inaugural phase of the intervention kicked off in Kano State, establishing a targeted framework to equip local youths and women with market-ready technical skills designed to stimulate entrepreneurship and expand Nigeria’s industrial workforce. Representing Vice President Kashim Shettima, Musaddiq Mustapha Adamu (Personal Assistant to the President on Subnational Infrastructure) emphasized that the initiative marks a definitive shift from temporary financial aid to sustainable, knowledge-based human…

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled the Grow Fund for Small Businesses in Nigeria, a ₦500 million zero-interest revolving loan scheme. Announcing the initiative during a direct outreach with market traders, SMEDAN Director-General Charles Odii stated that the fund was specifically created to bypass high interest rates, steep collateral demands, and stringent lending requirements that traditionally lock small-scale entrepreneurs out of commercial bank credit. The zero-interest capital is intended to help micro-retailers scale up by boosting working capital, acquiring modern machinery, and securing formal production spaces. To ensure strict accountability and higher loan recovery…

More than 10,000 young people gathered at the University of Lagos Sports Centre for the fifth edition of the Gen Z Involvement in a New Nigeria summit, popularly known as GiNN 5.0. Hosted by Javis and Alexis under the theme “The Naija Spirit,” the convention created a high-energy platform for participants to interface directly with top-tier business executives, media personalities, and political leaders. Convener Agomeze Saint Chukwuemeka, famously known as the “Saint of Africa,” described the record-breaking turnout as a clear message that young Nigerians are actively stepping forward to finance, lead, and engineer the country’s national narrative. Moving beyond…

At the fifth Nigeria Employers’ Summit in Abuja, the Nigeria Employers’ Consultative Association (NECA) stated that while recent federal macroeconomic reforms are necessary for long-term growth, they have yet to relieve the severe operational burdens on businesses. Under the theme “Leveraging Reforms and ESG for Enterprise Competitiveness and Inclusive National Growth,” NECA President Ifeanyi Okoye—represented by Treasurer Richard Ayibiowu—noted that after three years of aggressive structural changes, including fuel subsidy removal and foreign exchange floats, firms are still battling soaring energy costs, persistent inflation, unstable exchange rates, and multiple taxation. Micro, Small, and Medium Enterprises (MSMEs) are bearing the heaviest…

Entrepreneurship news platform Naijapreneur has released a comprehensive 40-page report analyzing the defining business trends that shaped Nigeria’s economy between 2015 and 2025. Categorized under three core themes—The Digital Leap, The Cost of Survival, and The Great Reshaping—the document reviews the sharp macroeconomic shifts of the past decade. Notably, it highlights the naira’s steep depreciation from around ₦197 to roughly ₦1,500 against the US dollar, record inflation peaks of 34.6%, the rapid expansion of the creative and fintech sectors, and the massive scale-up of agent banking outlets from 84,000 to over 1.9 million. Tito Philips, the Founder of Naijapreneur and…

At a business summit hosted by the Redeemed Christian Church of God (RCCG), Throne Room Parish in Wuse, Abuja, corporate leaders and clergymen urged Nigerian entrepreneurs to transition away from basic “hustling” toward formal corporate structures. Speaking under the theme “Building Systems and Structures for a Sustainable Business,” the Host Pastor, Emmanuel Mulero, stated that a significant percentage of small business failures stem from a lack of scalable organizational systems rather than a lack of innovative ideas. He challenged business owners to view entrepreneurship as a problem-solving vehicle, noting that companies focused on consistent value delivery and rigorous financial discipline…

Nigerian entrepreneur and trade specialist Juliet Ukpabio Archibong has launched FromAfricaB2B, a digital business-to-business marketplace designed to integrate African small and medium-sized enterprises (SMEs) into the global supply chain. The digital gateway allows local firms to set up complimentary business profiles to highlight their products, services, and operational capabilities. By centralizing product offers and purchase inquiries, the platform helps local merchants amplify their global visibility, secure long-term cross-border commercial relationships, and easily discover vetted international buyers. The digital ecosystem is built to maximize transactional safety and simplify procurement. For corporate buyers, FromAfricaB2B incorporates targeted search and comparison filters, allowing procurement…

To mark World MSME Day, celebrated under the theme “The Future Generation of MSMEs,” the Anambra State Government has restated its commitment to building a highly competitive small business ecosystem. In an official statement, the State Commissioner for Commerce, Mr. Nonso Chukwuma Ebonwu, described micro, small, and medium-sized enterprises as the primary engine of the state’s economy due to their capacity for job creation, local innovation, and livelihood improvement. He noted that the global observance serves as a vital reminder for governments to strengthen frameworks that provide entrepreneurs with structural support. Ebonwu highlighted that the administration of Governor Chukwuma Soludo…

Between January and May 2026, Nigeria exported approximately 148.9 million barrels of crude oil, generating an estimated N20.22 trillion ($14.66 billion) in foreign exchange. Data sourced from the Central Bank of Nigeria reveals a compelling market anomaly: while total export volumes actually dropped by 5.1 million barrels (a 3.3% year-on-year decline compared to 2025), net financial returns shot up by nearly 30%. This significant revenue boost was driven heavily by soaring global oil prices following intense Middle Eastern tensions and the resulting logistical closures along the critical Strait of Hormuz, pushing monthly Bonny Light averages past $126 per barrel by…

The Federal Government of Nigeria has finalized the first installment of a $5 billion Total Return Swap (TRS) facility with First Abu Dhabi Bank, the largest lender in the United Arab Emirates. Approved by the National Assembly on March 31, the transaction proceeds despite mounting transparency concerns from global financial institutions. The capital injection is designated to fund the 2026 fiscal budget, support critical infrastructure development, and reorganize existing debt obligations. Following legislative approval in April, lawmakers described the financing terms—which price the initial tranche at 395 basis points over the Secured Overnight Financing Rate (SOFR) and later tranches at…