Author: Gift Ifeanyi

Nigeria’s youthful population and expanding economy present both opportunities and challenges for graduates entering the workforce. Every year, thousands of graduates flood the labor market, yet traditional employment opportunities remain scarce. With the country’s rising unemployment rate, relying solely on 9-to-5 jobs is no longer a sustainable option. In this reality, entrepreneurship has emerged as a game-changing alternative, offering young Nigerians the chance to create jobs, drive innovation, and contribute to national economic growth. The Harsh Reality of Graduate Unemployment According to the National Bureau of Statistics (NBS), Nigeria’s unemployment rate continues to rise, leaving many graduates stranded without jobs.…

Julius Berger Nigeria Plc, the country’s leading engineering and construction giant, has taken a significant step in boosting entrepreneurship and technical expertise with the launch of the Julius Berger Vocational Skills Academy in Abuja. The launch event, which also marked the graduation of the first batch of trainees from the company’s Vocational Skills Support Programme, welcomed 40 new trainees into the academy. A Commitment to Skill Development The ceremony drew key stakeholders, including representatives from the Industrial Training Fund (ITF) and the Council of Registered Builders of Nigeria (CORBON), who praised Julius Berger for its dedication to workforce development and…

Nigeria is taking bold steps toward introducing a Citizenship by Investment (CBI) program, positioning itself as a major player in attracting foreign investors and high-net-worth individuals. If implemented, Nigeria will become the third African country to offer such a program, following Egypt and Mauritius. The proposed initiative aims to boost foreign direct investment (FDI), strengthen the economy, and enhance Nigeria’s appeal as Africa’s largest market. A Game-Changer for Nigeria’s Economy A CBI program allows foreign investors to obtain citizenship in exchange for significant financial contributions. Globally, many countries leverage such programs to attract capital, stimulate economic growth, and encourage foreign…

A nation’s growth and prosperity hinge on the quality of its human capital and investment in skills development. For Nigeria, bridging the gap in education, entrepreneurship, and leadership is crucial to achieving economic progress and global competitiveness. Former World Bank Group President Jim Yong Kim once noted that human capital accounts for about 65% of wealth in high-income countries but only 40% in low-income nations, highlighting the urgent need for skills development in countries like Nigeria. Currently, Nigeria ranks 168th out of 174 countries in human capital development, with a Human Capital Index (HCI) of 0.36 and a Human Development…

The Economic and Financial Crimes Commission (EFCC) has reaffirmed its commitment to combating illegal oil bunkering in Nigeria, stating that its operatives conduct petroleum product testing to safeguard supply integrity and curb illicit activities in the sector. In a statement released on Saturday, the EFCC cautioned petroleum marketers, particularly in Akwa Ibom State, against engaging in unethical practices such as procuring and selling adulterated fuel. This warning was issued by the Uyo Zonal Director of the EFCC, Assistant Commander of the EFCC (ACE 1) Oshodi Johnson, during a courtesy visit by representatives of the Independent Petroleum Marketers Association of Nigeria…

A gas pipeline fire broke out overnight in Rivers State, marking the third such incident in a week in the oil-rich region currently under emergency rule. The blaze occurred along the Soku-Abua-Rumuji right-of-way, according to a statement from Witness Alasia, general secretary of the Soku Kingdom. Local reports, including from Vanguard, suggest the fire may have resulted from an explosion at the facility. This latest incident adds to a growing list of setbacks that threaten oil and gas operations in Nigeria, Africa’s largest crude producer. Just last week, President Bola Tinubu declared a state of emergency in the region after…

Nigeria’s business community is under relentless pressure. In an already difficult economic climate characterized by rising costs, multiple taxation, policy inconsistencies, and dwindling investor confidence, the Financial Reporting Council of Nigeria (FRCN) has added another burden on struggling enterprises. Under the Financial Reporting Council Amendment Act 2023, private firms—many of which are already grappling with high energy and operational costs—now face a drastic surge in regulatory fees, escalating from N1 million to potentially hundreds of millions of naira, depending on their turnover. Meanwhile, listed companies with deeper financial reserves have their fees capped at N25 million. This disparity is striking…

Recognizing the crucial role of female entrepreneurs in shaping Nigeria’s economy, Kolomoni Microfinance Bank (MFB) has stepped forward to support women-led businesses with grants, reinforcing its commitment to economic growth and financial inclusion. According to World Bank data, 41% of Nigeria’s micro-businesses are owned by women, highlighting their significant contribution to the nation’s entrepreneurial landscape. Empowering Women on International Women’s Day To celebrate International Women’s Day (IWD), Kolomoni MFB organized a special event titled “Accelerate Her Growth,” bringing together female business owners to share their experiences, discuss challenges, and compete for financial support. The event served as both a networking…

Former Nigerian Minister of Education, Obiageli Ezekwesili, has called on the government to prioritize entrepreneurship, industrialization, and infrastructure development as key strategies for sustainable job creation and economic growth. Speaking at the 20th Anniversary Public Lecture of Redeemer’s University in Ede, Osun State, with the theme: “The Reality of Our Time: Harnessing Human Capital, Technology, and Values for a Sustainable Future,” Ezekwesili emphasized the urgent need to reduce barriers to business creation by streamlining registration processes, lowering start-up taxes, and improving access to finance for young entrepreneurs. Unlocking Economic Growth Through Entrepreneurship As a former Vice President of the World…

The newly appointed CEO of EFInA, Foyinsolami Akinjayeju, is stepping into her role with a clear vision: to drive lasting change in Nigeria’s financial ecosystem. Akinjayeju sees this as a pivotal moment to close the financial inclusion gaps that persist despite significant progress in recent years. In a conversation with The Guardian, she emphasized that while access to formal financial services has improved, true financial inclusion must go beyond accessibility—it should empower individuals, families, and entire communities to build financial resilience and create sustainable livelihoods. A Mission Beyond Access EFInA’s work, according to Akinjayeju, extends beyond simply increasing financial access.…

Nigeria is at the forefront of a global transition away from cash, experiencing the steepest decline in cash usage worldwide, according to a new report from Worldpay. Between 2014 and 2024, cash transactions in Nigeria plummeted by 59%, the largest drop among major economies where cash has traditionally dominated. Comparatively, the Philippines recorded a 43% decrease, Indonesia 44%, Mexico 41%, Japan 31%, Germany 24%, and Colombia 22%. The report, which examined 40 global markets accounting for 88% of the world’s GDP, forecasts that cash usage in Nigeria will continue its downward trend, falling to just 32% by 2030 as digital…

Nigeria’s oil and gas sector is embroiled in controversy as petroleum product marketers and depot owners accuse Dangote Refinery of blackmailing the government over the ongoing Naira-for-crude sales deal. The dispute intensifies amid growing uncertainty over the price of Premium Motor Spirit (PMS), commonly known as petrol, as the refinery halts sales in Naira. According to sources, a crucial meeting of the federal government’s technical Sub-Committee on Domestic Sales of Crude Oil and Refined Products, scheduled for Monday, failed to take place. The delay was attributed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) not submitting a vital…

Kwik Becomes Alibaba.com’s First Authorized Channel Partner in Sub-Saharan Africa Exclusive membership deals now available for Nigerian manufacturers to access over 48 million global buyers. Alibaba.com, a leading global B2B e-commerce platform, has partnered with Kwik, Nigeria’s top digital logistics platform, to enhance opportunities for Nigerian exporters. This collaboration marks a significant milestone as Kwik becomes Alibaba.com’s first-ever Authorized Channel Partner in Sub-Saharan Africa. Through this partnership, Kwik will promote Alibaba.com’s platform to Nigerian manufacturers, producers, and exporters, facilitating seamless entry into international markets. In addition, the two companies have introduced special membership rates for Nigerian businesses, offering enhanced access…

Moneda Invest Africa has partnered with meCash to revolutionize Africa’s financial ecosystem by enhancing payment solutions and credit accessibility for small and medium-sized enterprises (SMEs). The strategic alliance was officially unveiled at the Moneda Experience event on March 14, 2025, in Lekki, Lagos, where the groundbreaking “Musa” app was also introduced. A Game-Changing Collaboration The event gathered key industry stakeholders, including: Ejike Egbuagu, Group Chief Executive Officer of Moneda Modupe Diyaolu, Co-founder and CEO of meCash Adebusola Adegbuyi, Co-founder and Chief Technology Officer of meCash Precious Ehihamen, Acting Managing Director of Moneda Technologies Investors, industry experts, and members of the…

Zap, Nigeria’s first non-custodial crypto exchange, is the brainchild of childhood friends Tobiloba Asu-Johnson and Moore Dagogo-Hart. Despite market downturns and regulatory uncertainty, they built a platform centered on financial autonomy, securing early funding and gaining user trust. Now, Zap is poised for global expansion. A Friendship Turned Vision Zap didn’t begin as a business idea—it started as a friendship. Tobi and Moore met at the age of nine and, despite attending different universities, shared a deep passion for tech and finance. Their university years immersed them in cryptocurrency, but unlike most traders who relied on custodial exchanges, they leaned…

Nigeria’s entrepreneurial landscape is thriving, filled with businesses poised to make their mark regionally and globally. However, realizing this vast potential requires navigating a complex environment—one characterized by limited IT infrastructure, operational inefficiencies, and entrenched traditional practices. The key to sustainable growth in Nigeria lies in digital transformation, with cloud-based technologies leading the charge. A Market Ripe for Innovation With a rapidly growing middle class and a digitally savvy population, Nigeria offers an ideal environment for business expansion and innovation. Yet, many enterprises remain reliant on manual processes that hinder efficiency and scalability. To remain competitive and agile, businesses must…

The Central Bank of Nigeria (CBN) is intensifying efforts to empower Nigerian youths—who constitute the majority of the population—through innovative credit facilities and capacity-building programs. Under Governor Olayemi Cardoso’s leadership, the focus has shifted toward financial inclusion and entrepreneurship support, creating new opportunities for young Nigerians to thrive. Addressing Financial Barriers for Youths With over 60% of Nigeria’s population under the age of 25, the country has immense potential for economic expansion. However, many young entrepreneurs face significant hurdles such as limited access to finance, inadequate business training, and restrictive loan conditions imposed by commercial banks. In response, Cardoso’s administration…

The Lagos State Government, through the Office for Disability Affairs (LASODA), has empowered 78 entrepreneurs with disabilities by providing them with seed funding and essential work tools to boost their businesses. This initiative is designed to break economic barriers for Persons with Disabilities (PWDs) in the state, ensuring they achieve financial independence and contribute meaningfully to society. Empowering PWDs Beyond Financial Aid Speaking at the Financing and Upskilling Project for Entrepreneurs with Disabilities, held at the STO Resource Centre, Alausa, Ikeja, the General Manager of LASODA, Mrs. Adenike Oyetunde-Lawal, emphasized that the empowerment program is a major step toward fostering…

From selling snacks on the streets of Lagos, Nigeria, to securing a finance manager role at Amazon in Seattle, Washington, Precious Ezealigo’s journey is a testament to resilience, determination, and the power of generosity. “As a kid, I sold groundnuts and chin chin at school to help my family while repeating grades. Now, I’m about to graduate from the Darden School of Business.” As she prepares to graduate from the University of Virginia’s Darden School of Business in May, Ezealigo reflects on a journey shaped by hardship, perseverance, and a deep commitment to mentorship and leadership. Overcoming Challenges: A Path…

In a time when economic inclusion for women in Nigeria remains a critical issue, the fusion of fashion, entrepreneurship, and digital technology is emerging as a transformative solution. Leading this movement is Oyidiya Ajike-Mbah, the visionary founder of the Garment Factory and Fashion Label IVÓ, and more recently, the IVÓ Fashionpreneur Academy (IFA). Through the Scaling Fashion Project, a youth empowerment initiative in partnership with the Challenge Fund for Youth Employment (CFYE), IFA is revolutionizing the Nigerian fashion industry by equipping young women with the skills and opportunities needed to achieve financial independence. Nigeria’s Fashion Industry: A Billion-Dollar Opportunity Nigeria’s…