Author: Gift Ifeanyi

Olusegun Adebayo, founder of HarmonyGroup, has called for a new wave of visionary entrepreneurs to step forward and play a transformative role in solving Nigeria’s persistent economic challenges. He emphasized that unlocking the country’s immense potential requires bold leadership from the private sector—not just reliance on government intervention. In a recent statement, Adebayo highlighted the contradiction between Nigeria’s abundant natural and human resources and the widespread socioeconomic hardship faced by its citizens. Quoting data from the National Bureau of Statistics (NBS), he noted that over 63% of Nigerians live in multidimensional poverty, while youth unemployment exceeds 40%. “Our problem is…

In celebration of Black Business Month, the Nigerian Centre has launched the Washington’s Prosperity Campaign — a bold initiative to highlight the economic and cultural impact of Nigerian-American entrepreneurs and reframe immigration as a driver of prosperity in the Washington metropolitan region. The campaign draws a meaningful connection between the legacy of Black business ownership and the evolving contributions of African immigrants, particularly Nigerians, who continue to shape the economic landscape of the U.S. capital. “Washington’s Prosperity is about returning to our core values — and prosperity is chief among them,” said Gbenga Ogunjimi, Executive Director of the Nigerian Centre.…

The Bank of Industry (BOI) has reiterated its commitment to driving inclusive economic growth by improving access to affordable credit for Nigeria’s micro, small and medium-sized enterprises (MSMEs), as part of the ongoing disbursement of the N75 billion Presidential Intervention Fund. At the recent Presidential Loan Clinic for MSMEs in Abuja, BOI revealed that 662 businesses in the Federal Capital Territory (FCT) have received loan approvals totalling N2.9 billion, with N900 million already disbursed to 262 companies. The event was organised in collaboration with the Office of the Special Adviser to the President on MSMEs and Job Creation. It brought…

At just a teenager, Camille Ananyi is not waiting for the future—she’s creating it. Born in Nigeria and raised between Lagos and California’s Silicon Valley, Camille has lived at the intersection of two dynamic worlds. She recalls her childhood in Lagos filled with curiosity and ambition, but lacking role models in tech who looked like her. That changed one summer when she joined a beginner Scratch coding class at CoCreation Hub in Yaba. That small experience sparked a lifelong mission. Now a student at the prestigious Menlo School in the heart of Silicon Valley, Camille has launched SPARK Tech Africa—a…

FATE Foundation has partnered with Village Capital under the Africa Ecosystem Catalysts Facility (AECF) to accelerate the growth of early-stage entrepreneurs in Nigeria. This strategic collaboration aims to strengthen the country’s startup ecosystem by channeling capital and support to context-specific, high-impact ventures. The AECF, a $4 million initiative backed by the Dutch Entrepreneurial Development Bank (FMO) and the Netherlands Enterprise Agency (RVO), is designed to support startups addressing local challenges around economic mobility and climate resilience in Nigeria, Ghana, and Tanzania. As a newly appointed venture partner, FATE Foundation will leverage its extensive local experience to identify, evaluate, and support…

Billionaire businessman Prince Dipo Eludoyin is making waves again, this time by spearheading a massive foreign direct investment (FDI) effort set to inject over $10 billion into Nigeria’s economy from China. A respected entrepreneur and Chairman of the Paragon Group—owners of the landmark Ikeja Mall—Eludoyin is leveraging decades of business ties with Chinese industrialists and multinationals to bolster Nigeria’s industrialisation drive in alignment with President Bola Tinubu’s Renewed Hope agenda. According to industry analysts, Eludoyin’s established credibility and deep corporate links in China make this large-scale investment plan not only ambitious but also highly attainable. The proposed capital inflow will…

Allied Bond Consulting has emphasized that transforming entrepreneurship education is vital to unlocking Nigeria’s economic future. The firm announced plans to host a national workshop aimed at reshaping enterprise education into a strategic tool for innovation, job creation, and long-term national development. Scheduled for August 13–14, 2025, at the NUC Conference Hall in Maitama, Abuja, the workshop—organized in collaboration with PIFS Conferences—will focus on creating a new model for driving economic growth through entrepreneurial education. Themed “Creating a New Model for Dynamic Growth through Entrepreneurial Education,” the event will assemble top education planners, university entrepreneurship coordinators, industry experts, policymakers, and…

Africa’s wealthiest man, Aliko Dangote, has stepped down as chairman of Dangote Cement Plc, marking the end of an era at the company that laid the foundation for his business empire. The change, effective from July 25, 2025, ushers in a new leadership under Emmanuel Ikazoboh, former group chairman of Ecobank Transnational Inc. The move also marks a new chapter for the Dangote family, as Mariya Aliko Dangote, the billionaire’s daughter, joins the company’s board. While Dangote Cement remains a dominant force with 52 million tonnes annual capacity across Africa—35.25Mta of which is in Nigeria—Dangote is now shifting his full…

On a Monday in Abuja, the Federal Government unveiled a bold new initiative aimed at transforming Nigeria’s development story — not through foreign aid or policy declarations, but by reconnecting with its greatest untapped asset: its global citizens. The Diaspora BRIDGE platform — Bridging Research, Innovation, Development & Global Engagement — was formally launched with Vice President Kashim Shettima hailing it as “a strategic alignment of global expertise with national priorities.” The project, backed by the Federal Ministry of Education under Dr. Maruf Tunji Alausa, offers a structured, tech-enabled approach to harness the skills and knowledge of Nigeria’s estimated 18…

Pan Ocean CFO to Spotlight Nigeria’s Private Energy Drive at AEW 2025 Seyi Oladapo, Group Chief Financial Officer of Pan Ocean and the Newcross Companies, is set to join key industry leaders at African Energy Week (AEW) 2025, the continent’s foremost energy summit in Cape Town. His presence marks a significant addition to the event, bringing attention to the role of indigenous private energy firms in advancing Africa’s upstream oil and gas growth. Pan Ocean, one of Nigeria’s longest-standing private oil companies, is expanding aggressively. With a focus on innovation, the company is integrating aerial drones and ultrasonic meters to…

As Nigerian companies face escalating cyber threats, global tech leader HP is turning to artificial intelligence (AI) to empower businesses of all sizes with advanced cybersecurity tools. Yesh Surjoodeen, HP’s Managing Director for Southern Africa, revealed that cyberattacks, once considered the burden of global corporations, are now hitting small and medium-sized Nigerian enterprises—ranging from banks and government agencies to manufacturers. These breaches, he noted, can cost millions, not just in IT repairs but also in legal disputes, reputational damage, and crisis communications. “Containment alone is expensive, but additional costs like PR management, overtime for IT teams, legal consultations, and security…

Bature Brewery, Nigeria’s largest craft beer producer, is embarking on an ambitious growth mission, aiming to expand its footprint to 500 retail locations nationwide within the next 18 months. Co-founder Kevin Conroy, speaking to Reuters, revealed that the brewery—which launched operations in Abuja in 2017—has already secured 70 locations and currently produces 22,000 litres of beer each month. The target, he said, is to scale production up to 100,000 litres monthly by next year. This aggressive expansion aligns with global trends. According to Business Research Insights, the global craft beer market is forecast to more than triple, reaching over US$250…

A new Afrobarometer survey has revealed overwhelming support among Nigerians for freer international trade and easier movement across West African borders—despite the significant challenges citizens face when crossing them. According to the findings, eight in 10 Nigerians (80%) believe the country would benefit if the government made it easier to trade with other nations. In contrast, only 18% think trade should be restricted to protect local businesses. When asked how Nigeria should approach trade relationships, a strong 68% favour open trade with all countries globally, while 23% would prioritize trade with African nations, and just 5% prefer a focus on…

A groundbreaking digital platform, WAWUAfrica, has officially launched, aiming to empower African women professionals, artisans, and entrepreneurs by providing them with the tools, resources, and support needed to thrive. Designed as a safe and inclusive space, WAWUAfrica functions as a full-fledged ecosystem where women can learn, earn, grow, collaborate, and scale their ventures with confidence. It addresses long-standing barriers African women face—particularly in accessing capital, mentorship, and business development support. At the heart of WAWUAfrica’s mission is a unique blend of faith, innovation, and community. With a Christ-centered approach, the platform is redefining what empowerment looks like by aligning business…

The Nigerian Exchange (NGX) is enjoying a banner year in 2025, emerging as one of Africa’s top-performing markets with a 37.25% surge in its All-Share Index by August 1. This rally has unlocked N26.61 trillion in capital gains, boosting total market capitalization from N62.76 trillion to N89.37 trillion since January. In dollar terms, the exchange has appreciated by $17.4 billion, growing from $41.84 billion at the start of the year to $58.4 billion — based on an exchange rate of N1,530/$ as of August 1. A key highlight of this bullish run is the sharp rise in billion-dollar companies listed…

Nigerian entrepreneur Aisha Maina has secured a $40 million investment, backed by Afreximbank, to develop a major deep-water port and economic zone in St Kitts — a bold move that could redefine trade between Africa and the Caribbean. Maina, who is the Managing Director of Aquarian Consult and founder of Gemini Integrated Commodities, is spearheading a vision that directly connects African producers to Caribbean markets, trimming freight costs and bypassing Europe entirely. The project, anchored in Basseterre, will feature a Panamax berth and a 10-square-kilometre special economic zone dedicated to agro-processing, assembly, and bonded warehousing. Feasibility studies begin August 2025,…

In a bold effort to empower professionals with real-world negotiation skills, the “Empower-to-Prosper” masterclass recently held in Lagos brought together over 100 participants eager to learn how to secure their true value in the marketplace. Hosted under the theme “Negotiate with Power: How to Charge Appropriately for Your Value,” the session is part of IVLPAAN’s ongoing initiative to promote economic advancement through practical knowledge and mindset transformation. Addressing the gathering, IVLPAAN President Oketola emphasized the urgent need for Nigerians to stop undervaluing their services, citing that many talented individuals remain poorly compensated — not due to a lack of skill,…

In a bold move to reshape Nigerian higher education, Ekiti State University and Babcock University have been selected for a transformative project funded by the British Council. The initiative aims to modernise university curricula with a strong emphasis on entrepreneurship, circular economy principles, and peacebuilding. Spearheaded by Dr. Olushola Kolawole, a Business Data Analytics and Entrepreneurship expert at the University of Bradford, the project convened curriculum experts, scholars, and education stakeholders in Lagos to brainstorm strategies for embedding sustainability and peace education into academic frameworks. Dr. Kolawole stressed the importance of aligning Africa’s education with global trends. “We must equip…

InnovationHub Africa, the organizers of the prestigious Nigeria Innovation Summit (NIS), have announced the top agenda for the 10th edition of its annual event. The summit is an annual event that brings together critical stakeholders from different sectors of the economy to discuss ground-breaking ideas, trends, opportunities, and numerous verticals to accelerate innovation and solutions that solve unique challenges within Nigeria and the African continent at large. Disclosing the event’s agenda, Mr. Tony Ajah, the Programme Director of the summit says, “The theme for this year’s event is “Sustainable Innovation”. As the world grapples with pressing challenges from climate change…

Lagos, Nigeria – Two years after Nigeria’s historic naira float sent shockwaves through corporate earnings, a remarkable turnaround is underway. Companies that suffered N867 billion in consumer sector losses and N1.67 trillion in telecoms FX losses are now posting record profits, with MTN Nigeria leading the charge as the NGX’s first N10 trillion market cap firm. The Crisis Years (2023-2024) ▸ Naira’s Collapse: Depreciated 234% from N460/$ (June 2023) to N1,535/$ (Dec 2024) ▸ Consumer Sector Carnage: 7 major firms lost N867 billion over two years FX losses hit N1 trillion in 2024 alone (+56% YoY) Interest expenses surged 131% to N365 billion…