Author: Gift Ifeanyi

The Federal Government’s effort to cushion economic hardship has entered a new phase, with the National Cash Transfer Programme now scaled up to reach 15 million Nigerians. Oyo State is directing its share of the scheme toward struggling small business owners, street vendors, and other informal sector workers. In Ibadan, government officials and stakeholders gathered for a sensitisation meeting to outline how the initiative will work on the ground. Representing the Commissioner for Women Affairs and Social Inclusion, Dr. Mofoluwake Ibitoye described the programme as “a lifeline for vulnerable entrepreneurs who are working hard but need extra support to stay…

In a bid to cut costs and broaden its oil supply sources, Pakistan Refinery Limited (PRL) will, for the first time, import Nigerian Bonny Light crude this September from global energy trader Vitol. The 500,000-barrel cargo of light-sweet crude is scheduled to load later this month and arrive in Karachi by late September, according to industry insiders familiar with the deal. While pricing details remain under wraps, the move signals a shift in strategy for Pakistan’s refining sector. Traditionally reliant on Saudi Arabia and the United Arab Emirates for nearly all its crude, Pakistan is now joining other Asian refiners…

The Economic and Financial Crimes Commission (EFCC) has sounded the alarm over the rising incidence of money laundering in Nigeria’s real estate sector, naming some property developers as key enablers due to poor customer verification practices. In a statement released via its social media channels on Wednesday, EFCC Chairman Ola Olukoyede urged developers to conduct thorough Know Your Customer (KYC) checks on investors to ensure their funds come from legitimate sources. Speaking in Abuja at an event themed “Tackling Illegal Property Sales, Fake Developers, and Unlicensed Agents”, Olukoyede said the commission’s findings show that money laundering is “very rampant” among…

Benue State is set for a major industrial boost as the Food Basket Brewery, alongside the Benfruit and Juice factories, is scheduled for inauguration in October 2025. The multi-billion-naira investment is expected to inject fresh momentum into the state’s economy and generate at least 1,500 direct jobs. The Group Managing Director of the Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, revealed on Thursday in Makurdi that the brewery project would cost between ₦10 billion and ₦15 billion upon completion. Speaking after taking delivery of 10 truckloads of machine equipment—adding to the 16 already received out of an…

The President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has reaffirmed the Bank’s commitment to championing African entrepreneurs and driving industrial innovation across the continent. Dr. Adesina made the pledge during a visit to Saglev Electromobility Nigeria Limited, an electric vehicle (EV) assembly and distribution company in Ikorodu, Lagos. The facility, which partners with a Chinese automobile group, produces EVs from semi-knocked-down components for Nigeria and other emerging markets. Currently capable of assembling 2,500 vehicles annually on a single shift—with plans to scale up to 10,000 units—Saglev is positioning itself as a key player in Africa’s green…

Former World Bank vice president and treasurer Arunma Oteh has hailed Making It Big, the upcoming memoir of billionaire businessman Femi Otedola, as a brutally honest and essential account of entrepreneurship in a developing country. In advance praise for the book, Ms. Oteh pointed to one of its most striking revelations — Otedola’s candid admission of a personal weakness at a pivotal moment in his career. “When a very successful person openly tells you their weaknesses, you know you are reading an honest account,” Oteh wrote in the blurb. “Femi tells us a frank story of how he stopped being…

The National Directorate of Employment (NDE) has reaffirmed its commitment to bridging the gap between education and employment through targeted skills development and entrepreneurship initiatives in Edo State. Speaking at an empowerment forum, Mrs. Anani praised the NDE’s Graduate Attachment Programme for equipping graduates with practical workplace experience, thereby easing their transition into the labour market. She urged the agency to intensify its outreach campaigns, particularly through radio broadcasts, to ensure rural communities are not left out. Highlighting the importance of women’s economic participation, Mrs. Anani commended the From Farm to Table initiative, which promotes backyard farming by providing women…

Lagos State Governor Babajide Sanwo-Olu has announced that over 30,000 women and youths have been trained across the state’s 19 skills acquisition centres in the last five years. Speaking on Thursday at the graduation ceremony for 5,309 students from the 2024/2025 session of the Ministry of Women Affairs and Poverty Alleviation’s (WAPA) skills acquisition programmes, the governor said the initiative was designed to equip young entrepreneurs with practical skills and tools to start their own businesses. Sanwo-Olu described entrepreneurship as a key weapon in the fight against poverty, stressing that empowering people with skills not only transforms individual lives but…

Lagos State Governor Babajide Sanwo-Olu has urged graduates of the state’s Skills Acquisition Centres to embrace creativity, perseverance, and entrepreneurship as they step into the world of business. Addressing more than 5,000 graduates from the 2024 training cycle under the Ministry of Women Affairs and Poverty Alleviation (WAPA), the governor encouraged them to leverage their newly acquired skills to create jobs and drive economic growth in their communities. The graduation ceremony, held at the Blue Roof, LTV Complex, Ikeja, marked the culmination of months of intensive vocational training in trades such as tailoring, catering, hairdressing, carpentry, bead making, tiling, paint…

The Mary Prince Women’s Entrepreneurial and Leadership Conference opened in Bermuda yesterday with an inspiring keynote from Ibukun Awosika, former Chair of First Bank of Nigeria and a prominent advocate for women’s leadership across Africa. Speaking to a packed audience at Pier Six, Ms Awosika drew a playful yet powerful comparison between her home country of 220 million people, over 350 tribes, and more than 500 languages — and Bermuda’s close-knit island community. “Our diversity is beautiful… but I envy your unity of purpose and your oneness,” she told attendees. “In a small community, disagreements might be over something as…

Held under the theme “From Unification to Diversification: Shaping Nigeria’s Gaming Future,” the Enugu Gaming Conference 2025 positioned gaming not as a side hustle, but as a vital pillar of the nation’s economic backbone. Once limited to lotteries and sports betting, Nigeria’s gaming sector is evolving into a sophisticated, multi-vertical industry — marked by unified data systems, interstate collaborations, and innovations that reach far beyond lucky numbers. As participants agreed, if the goal is to grow a resilient, digitally driven economy, gaming is not just a player — it’s the team captain. The conference brought together state regulators, operators, fintech…

At the Industry Sustainability and Critical National Information Infrastructure Conference in Ikeja, Lagos, Dr. Aminu Maida, Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), underscored the strategic importance of telecommunications as the backbone of Nigeria’s socio-economic growth, national security, and digital sovereignty. Represented by Edoyemi Ogoh, Director of Technical Standards and Network Integrity, Dr. Maida revealed that the telecom sector now accounts for over 14.4% of Nigeria’s GDP, supporting vital industries including banking, energy, healthcare, security, education, and governance. He described telecom assets — from towers and fiber optic cables to data centers, internet exchange points, and international gateways…

At the 2025 Nigeria Annual International Conference and Exhibition (NAICE) in Lagos, TotalEnergies stressed that Nigeria’s long-term energy sustainability cannot hinge solely on hydrocarbons but must be anchored on strategic investment in human capital. Speaking during a panel session themed “Governance and Structuring Human Resources Strategy for a Sustainable Energy Future”, Victor Bandele, Deputy Managing Director, Deepwater Asset at TotalEnergies EP Nigeria, said the company’s six decades in Nigeria have been built on a people-focused approach to sustainability. Bandele cited TotalEnergies’ graduate trainee programme in partnership with the Institute of Petroleum and Energy Studies (IPES) at the University of Port…

In a chilling repeat of escalating violence in Nigeria’s northwest, at least 45 women and children were abducted by gunmen during coordinated overnight raids on five villages in Zamfara State, according to eyewitness accounts. The armed assailants struck late Monday, storming the community of Sabongarin Damri and expanding their assault to nearby villages including Sade, Tungar Tsalle, Tungar Sodangi, and Tungar Musa Dogo. The siege lasted until dawn, leaving residents in fear and mourning. Shehu Musa, the traditional leader of Damri, confirmed the attack in a phone interview with Reuters. “The attackers invaded the communities and kidnapped no fewer than…

The Honourable Minister of Art, Culture, Tourism, and the Creative Economy, Barr. Hannatu Musa Musawa, has formally inaugurated the Planning Committee for the highly anticipated Tourism and Hospitality Summit 2025, in a ceremony held at the Ministry’s Conference Room, Federal Secretariat Phase II, Abuja. Slated for November 24–25, 2025, in Abuja, the summit is being jointly organised by the Ministry and the Nigerian Economic Summit Group (NESG). This strategic gathering aims to reposition Nigeria as a leading destination on the global tourism and hospitality map. Speaking at the inauguration, Minister Musawa emphasised the pivotal role of the sector in driving…

With the release of new operational guidelines for insurtech businesses, the National Insurance Commission (NAICOM) has signalled a decisive shift toward technology-driven transformation in Nigeria’s insurance industry. The guidelines, which came into effect on August 1, 2025, mark a significant milestone in modernising the regulatory landscape and enabling the widespread adoption of digital solutions in underwriting, claims management, product distribution, and customer service. Insurtech—a fusion of “insurance” and “technology”—refers to the innovative use of tools such as artificial intelligence (AI), big data analytics, blockchain, and the Internet of Things (IoT) to boost efficiency, reduce costs, and enhance user experience. These…

Fidelity Bank Plc is gearing up for the third edition of its signature international business platform — the Fidelity International Trade and Creative Connect (FITCC) — scheduled to take place from September 18 to 20 at the Omni Atlanta Hotel at Centennial Park, Georgia, USA. In a bold initiative aimed at boosting cross-border commerce and diaspora-led partnerships, the bank is collaborating with Amplify Africa, organizers of AFRICON, a premier summit celebrating African enterprise and diaspora influence. This partnership underscores a shared commitment to linking African innovation with global business opportunities. “Since launching FITCC in 2022, the event has evolved from…

Nigeria’s struggling electricity sector has taken another hit as a court-appointed receiver has been named for KEPCO Energy Resources and its subsidiary, Egbin Power—the country’s largest power generation company. This move, initiated by lenders, underscores growing concerns about the financial stability of the power industry. According to a public notice released on June 19, attorney Kunle Ogunba was appointed as the receiver/manager on behalf of creditors. The appointment comes amid an estimated ₦2 trillion ($1.31 billion) cash shortfall facing the sector. KEPCO, which holds a 70% stake in Egbin Power, is now contesting the receivership in court. Both companies have…

Despite a new 15% tariff from the United States taking effect Thursday, Nigeria remains resolute in its trade strategy, pivoting toward regional and emerging global markets. Speaking to CNN on Wednesday in Nigeria’s first official response to the tariff, Trade Minister Jumoke Oduwole framed the U.S.–Nigeria relationship as primarily energy-focused and signaled a shift toward broader trade diversification. “The global marketplace offers vast possibilities,” Oduwole said. “We’re actively pursuing trade integration through the African Continental Free Trade Area (AfCFTA). In fact, our non-oil exports to African countries grew by 24% year-over-year in the first quarter.” The minister’s recent tone contrasts…

Despite the widespread adoption of mobile internet in Nigeria, thousands of local businesses remain virtually invisible in local search results — a problem that digital strategist Oladejo Elisha calls one of the biggest missed opportunities for small and medium-sized enterprises (SMEs). From hairstylists in Port Harcourt to law chambers in Lagos, many Nigerian entrepreneurs are still failing to appear in simple Google searches — especially location-based ones such as “plumber near me” or “salon in Ikeja.” But Elisha insists the issue isn’t just technical; it’s a deep-rooted awareness gap that is silently draining revenue. “People aren’t just searching random stuff…