Author: Gift Ifeanyi

Micohype Beauty Hair, a top-tier name in Nigeria’s hair fashion industry, is proving that business success and social transformation can go hand in hand. Consistently ranked among the country’s top five hair brands, the company has woven social responsibility into the very strands of its business model, setting a powerful precedent in ethical entrepreneurship. At the heart of Micohype’s strategy is a commitment to local empowerment. The company sources its premium hair products through partnerships with local artisans and collectors in Nigeria, Ghana, and Ethiopia. This approach not only ensures authenticity and quality but also provides sustainable income opportunities for…

Once a vital contributor to global oil supply, Nigeria’s petroleum sector has faced a severe downturn, with crude production declining by 40% from its 2005 peak to a current level of 1.6 million barrels per day. Following the oil price collapse in 2014, international oil companies (IOCs) began redirecting investments to safer, lower-cost regions, accelerating Nigeria’s production decline. However, under the leadership of President Bola Tinubu, newly elected in 2023, the country is now pushing a bold recovery agenda. A New Era of Reform and Aspiration President Tinubu, serving concurrently as Nigeria’s Minister of Petroleum Resources, has set ambitious national…

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised significant concerns following Dangote Refinery’s recent announcement to begin direct nationwide distribution of premium motor spirit (PMS) and automotive gas oil (AGO). In a statement issued on Monday, PETROAN described the development as a potential threat to thousands of jobs and a move that could foster monopoly in Nigeria’s downstream petroleum sector. Dangote Refinery, one of the largest refineries in sub-Saharan Africa with a capacity of 650,000 barrels per day, declared plans to independently distribute petrol and diesel across the country. While this initiative is expected to boost…

In 2025, Nigeria is witnessing a powerful surge of young billionaires who are reshaping the nation’s economy across multiple sectors. Driven by innovation, grit, and visionary thinking, these wealth creators have emerged from diverse backgrounds to lead groundbreaking ventures in oil, real estate, fintech, media, technology, and hospitality. While estimates of net worth remain private and varied, their economic influence is undeniable. Here’s a spotlight on some of the most prominent young Nigerian billionaires changing the face of modern entrepreneurship. Igho Sanomi: The Silent Titan of Energy and InfrastructureFounder of Taleveras Group, Igho Sanomi commands a formidable presence in Nigeria’s…

When Rahanatu turned her lifelong love for incense into a business, she had no idea it would grow into a multi-state enterprise or make her an online sensation. What started as a survival tactic after years of unemployment has evolved into one of northern Nigeria’s standout entrepreneurial success stories. A Business Born from Necessity, Not Passion After five years of unsuccessful job hunting—even with a master’s degree—Rahanatu decided to try something radically different. She tapped into a personal habit that had always brought her joy: burning incense. “I just told myself, why not sell it?” she recalled. “I’ve always used…

BioDlink Biopharm Co., Ltd. has achieved a major milestone with the approval of its Bevacizumab Injection (Pusintin®) by Nigeria’s National Agency for Food and Drug Administration and Control (NAFDAC). This approval opens the gateway to the African market, aligning with BioDlink’s broader strategy to expand globally and provide affordable, high-quality biosimilar therapies to underserved regions. Expanding Global Footprint Through Strategic Collaborations Following successful GMP certifications in Brazil, Colombia, Egypt, Indonesia, and Argentina—countries with rigorous regulatory frameworks—BioDlink has further cemented its global reputation. This approval in Nigeria signals its first major step into Africa, a continent with growing healthcare demands and…

In the early 1990s, when computers were a rarity and indigenous software was widely underestimated, a quiet revolution began. Few could foresee that a small Nigerian firm, founded in an era dominated by typewriters and fax machines, would go on to engineer some of the country’s most impactful technological transformations. More than three decades later, SystemSpecs stands not as a fleeting disruptor, but as a legacy builder—shaping the very foundation of Nigeria’s digital ecosystem through innovation, consistency, and deep local insight. From Humble Beginnings to Software Trailblazer Founded in 1992 by Dr. John Tanimola Obaro, a visionary computer scientist and…

In a notable display of regional diplomacy, Nigeria has extended official invitations to Burkina Faso, Mali, and Niger to attend the upcoming 2025 West Africa Economic Summit, despite the trio’s formal withdrawal from the Economic Community of West African States (ECOWAS) earlier this year. Minister of Foreign Affairs, Ambassador Yusuf Tuggar, made the announcement during a press briefing on Monday, emphasizing that the exit of these nations from ECOWAS did not diminish their importance to West Africa’s collective development goals. Breaking Political Barriers for Economic Unity Burkina Faso, Mali, and Niger finalized their exit from ECOWAS on January 29, 2025,…

Despite recent security concerns and the temporary closure of the Abraka Railway Station, Nigerian Railway Corporation (NRC) consultant Mark Adamu is calling on entrepreneurs and investors to recognize the immense economic potential along the Warri-Itakpe rail corridor, particularly in Delta State. Speaking following the shutdown of the Abraka Station—a key stop along the Warri-Itakpe Train Service (WITS)—Adamu emphasized that while safety remains a priority, the crisis should not deter economic development or investment in the area. Background: Violence Forces Temporary Shutdown The closure of the Abraka Station comes in the wake of a violent clash between Fulani herders and local…

In a fast-paced world where young professionals are navigating career decisions, financial independence, and personal growth, Nigerian-hosted podcasts offer a relatable and impactful resource. These on-demand shows deliver real-life strategies from successful entrepreneurs, financial experts, and mindset coaches—all within a familiar Nigerian context. Whether you’re negotiating your first raise, launching a side hustle, or building mental resilience, these podcasts provide the tools, stories, and insights to help you thrive. 1. The Future Awards Africa Podcast This podcast spotlights rising stars and changemakers across industries, unpacking their career journeys, funding pitches, and leadership milestones. Each episode provides a blueprint for launching…

The Bayelsa State Government has unveiled the Bayelsa E-Commerce Entrepreneurship Program (BEEP 2025)—a transformative initiative aimed at training 500 entrepreneurs to thrive in the fast-growing digital economy. The flagship program is part of the MPOWER500 initiative, which focuses on economic inclusion, youth empowerment, and sustainable development. The official launch is set for June 17, 2025, at the Government House Banquet Hall in Yenagoa, with Governor Douye Diri presiding. Driving Inclusive Prosperity Through E-Commerce Speaking at a press briefing, Ebiowou Kolu-Obiyal, the state’s Commissioner for Information, Orientation and Strategy, emphasized the strategic alignment of BEEP with Bayelsa’s Prosperity Agenda. “BEEP will…

In a powerful collaboration aimed at empowering young Nigerian women, the Anglican Diocese of Lagos West, in partnership with Terra Academy for the Arts (TAFTA) and with support from the Mastercard Foundation, has successfully trained 126 young women in creative arts, business management, and content development. The training, hosted at the Caroline Adebiyi Women Development Centre in Ipaja, Lagos, focused on equipping participants with practical skills in scriptwriting, animation, and creative entrepreneurship—tools essential for thriving in today’s digital and creative economy. More Than Skills: A Mission to Inspire Leadership Dr. (Mrs.) Lydia Odedeji, President of the Diocesan Women’s Organisation and…

Nigerian crude oil prices soared to their highest level of 2025, closing Friday at $77 per barrel, as geopolitical tensions in the Middle East drove up market volatility. Premium grades like Brass River and Qua Iboe rose slightly higher, reaching $77.20, amidst escalating hostilities between Israel and Iran. This spike places Nigerian oil above the Federal Government’s 2025 budget benchmark of $75, potentially offering the government increased fiscal flexibility as revenue from oil exports improves. Geopolitical Turmoil Fuels Price Surge Concerns over a widening conflict between Israel and Iran have disrupted energy markets, with fears that export routes through the…

For Orekoya Adebisi, entrepreneurship is not merely a profession—it’s a way of life. As the dynamic founder of Busbis Fabrics and Mazel Partners Limited, she has spent over 15 years transforming a humble fabric venture into a thriving multi-business empire spanning fashion, consulting, real estate, and financial services. With roots in Lagos and a mindset shaped by resilience, Adebisi’s journey exemplifies how passion, diversification, and strategic vision can create enduring success stories. Early Beginnings: The Hustle That Funded a Dream Adebisi’s foray into entrepreneurship began while she was a student, sourcing and selling Ankara fabrics from local markets to meet…

In a significant move to advance local skill development and entrepreneurship, Kiara De-Luke Academy (KDA) has signed a Memorandum of Understanding (MoU) with the Self-Employed Artisans Development Association of Nigeria (SEADAN) in Aba, Abia State. The agreement focuses on training in fashion design and garment production, aligning with the Federal Government’s “Nigeria First Policy” which encourages the use of locally made goods and services. A Strategic Collaboration for National Development KDA, a recognized institution offering technical and vocational training across various sectors—including carpentry, electrical maintenance, welding, plumbing, and fashion—seeks to tap into Aba’s vibrant artisan community. Known as a hub…

In celebration of Father’s Day 2025, Nigeria’s leading payment technology firm, BudPay, has launched a compelling documentary series titled “The Legacy Project.” The initiative pays tribute to fathers who have built enduring business empires and successfully nurtured generational leadership within their families. A Tribute to Entrepreneurial Fatherhood The Legacy Project spotlights prominent Nigerian family-run enterprises, showcasing how visionary fathers have either handed over leadership to their children or co-manage thriving businesses with them. Featured organizations include Coscharis Group, Okeyson Group, and Wuyi Adeyemo & Co., among others. According to Unini Campbell, Chief Commercial Officer at BudPay, the series aims to…

In a bold move aimed at reshaping Nigeria’s fuel supply chain, Dangote Petroleum Refinery has announced that it will begin nationwide distribution of Premium Motor Spirit (PMS) and diesel starting August 15, 2025. This strategic rollout will be supported by the deployment of 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers, a dedicated effort to enhance delivery capacity, improve fuel accessibility across the country, and reduce logistics costs. Key Highlights of the Distribution Plan: Start Date: August 15, 2025 Products: Premium Motor Spirit (PMS) and diesel Target Beneficiaries: Fuel marketers, petrol station dealers, manufacturers, telecom operators, aviation companies, and other major…

In March 2025, Nigerian food-tech startup Vendease came under scrutiny following a major restructuring of its pay structure and mounting financial troubles. As first reported by TechCrunch, the company announced sweeping salary cuts that placed all employees on a flat ₦140,000 monthly wage, regardless of their previous earnings. This move was the first phase in a five-step recovery plan, promising a return to full salaries by December 2025, based on performance. However, internal sources revealed to Techpoint Africa that the announcement—made during a February staff meeting—caught employees off guard. Many had assumed the September 2024 layoffs were sufficient to stabilize…

The Nigerian Government has launched a renewed and determined effort to resuscitate the Ajaokuta Steel Company, a long-dormant national asset considered vital to Nigeria’s industrial development and large-scale job creation. As part of this initiative, the government is engaging top Chinese steel manufacturers for technical collaboration, financial backing, and operational partnerships to bring the facility to full capacity. Strategic Investment Mission to China Spearheading this drive is the Minister of Steel Development, Shuaibu Audu, who is leading a high-level federal delegation on a strategic investment mission to China. The delegation includes Mr. Joseph Tegbe, Director-General of the Nigeria-China Strategic Partnership,…

The Nigeria Auto Journalists Association (NAJA) has officially announced the second edition of the Nigeria Auto Industry Summit (NAISU), scheduled for Thursday, July 31, 2025, at the Lagos Chamber of Commerce and Industry (LCCI) Conference Centre, Alausa, Ikeja, Lagos. This year’s summit is themed “Nigeria First: Local Content as Catalyst for Automotive Economy”, reflecting a bold push to prioritize indigenous manufacturing and local capacity development in the nation’s auto industry. Shaping a Locally Driven Automotive Ecosystem Organized in collaboration with the National Automotive Design and Development Council (NADDC), the Nigeria Association of Automotive Manufacturers (NAMA), and the African Association of…