Author: Gift Ifeanyi

Lagos, Nigeria – Three groundbreaking Nigerian businesses have emerged winners of the 2025 Cascador Nigerian Sovereign Investment Authority (NSIA) Prize for Innovation, receiving $15,000 each for their scalable solutions in agriculture, healthcare and renewable energy. The Winning Ventures  PromisePoint Sector: Agri-tech Achievement: Trained 10,000+ smallholder farmers (70% women) Milestone: Secured ₦1 billion contract with Nestlé Nigeria Founder Quote: “This validates rural women as drivers of food security” – Bukola Joy Farinde  FriendnPal Sector: Mental Health Tech Innovation: AI-powered multilingual therapy platform Impact: Affordable care for underserved Africans Founder Quote: “Built for people like my mother who deserve dignified care” – Esther Eruchie  D-Olivette Sector: Clean…

Lagos, Nigeria – The Nigerian Association of Insurance and Pension Editors (NAIPE) will host its landmark 10th annual conference in September 2025, focusing on how optimized pension and insurance systems can drive national economic growth. Conference Highlights  Theme: “Strengthening Pension and Insurance Framework for a Better Economy” Date: September 2025 Venue: Lagos, Nigeria Chairman: Sunday Thomas (Former Commissioner for Insurance) Keynote Speaker: Olatunde Amolegbe (Ex-CIS President/Asset Management Expert) Why This Matters Nigeria’s insurance penetration (<1% of GDP) and pension assets (₦20+ trillion) remain underutilized economic levers. The conference will address: ✔ Policy Gaps: Regulatory hurdles limiting sector growth ✔ Investment Channels: Deploying pension funds…

Lagos, Nigeria – The Society of Petroleum Engineers (SPE) has called for immediate action to achieve Nigeria’s ambitious crude oil production target of 2.7 million barrels per day (mbpd) by 2030, stressing that current output of 1.75mbpd (including condensates) remains insufficient. 4 Critical Focus Areas Identified  Enhanced Oil Recovery (EOR) Implement advanced extraction technologies for aging fields Optimize existing assets before new explorations  Pipeline Security Combat crude theft sabotaging production Deploy tech-driven surveillance systems  Gas Monetization Leverage 209TCF gas reserves as transition fuel Accelerate NLNG Train 7+ projects  Infrastructure Reliability Upgrade decaying pipelines and export terminals Address refining bottlenecks SPE Nigeria’s…

Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPCL) has dismissed as “pure fiction” a report by Peoples Gazette alleging that Group Managing Director Bayo Ojulari was forcibly removed from office, describing the publication as “reckless sensationalism better suited for Nollywood scripts than journalism.” Key Facts of the Matter  Voluntary Resignation Mr. Ojulari submitted his resignation after consultations with authorities Decision followed legitimate official trip to Kigali oil/gas conference “The only pressure was my own commitment to accountability,” Ojulari stated  Debunked Claims No “midnight abduction” by security agencies No involvement of EFCC/DSS in resignation process No connection to British-Nigerian businesswoman…

Lagos, Nigeria – Just five companies – MTN Nigeria, Dangote Cement, Airtel Africa, BUA Foods, and BUA Cement – now command a staggering 46.3% of the Nigerian Exchange’s total market capitalization, with their combined value hitting ₦41.385 trillion as of July 2025. The Top 10 Market Movers MTN Nigeria – ₦10.077 trillion (Telecom) Dangote Cement – ₦8.914 trillion (Industrial) BUA Foods – ₦8.701 trillion (Consumer) Airtel Africa – ₦8.683 trillion (Telecom) BUA Cement – ₦5.01 trillion (Industrial) GTCO – ₦3.624 trillion (Banking) Zenith Bank – ₦3.141 trillion (Banking) Geregu Power – ₦2.853 trillion (Power) Lafarge Africa – ₦2.4 trillion (Industrial) Transcorp Power – ₦2.4 trillion (Power) Notably, the top 20 companies account for 81% of the entire NGX market…

Lagos, Nigeria – Nigerian businesses are demonstrating remarkable resilience as the Business Performance Index climbed for the sixth consecutive month to 113.6 points in June 2025, according to the latest NESG-Stanbic IBTC Business Confidence Monitor (BCM). The sustained expansion comes despite ongoing macroeconomic pressures, signaling corporate Nigeria’s growing adaptability. Key Highlights from the Report  Record Optimism Business Confidence Measure surged to 134.5 points (June 2025) – the highest this year Manufacturing sector leads at 123.6 points, up from 114.4 in May Non-manufacturing sector maintains expansion at 120.7 points, though momentum slows  Growth Drivers Early benefits of government reforms Modest oil output recovery Improved supply chain…

Abuja, Nigeria – In a major push to position Nigerian businesses for continental trade dominance, the Nigeria AfCFTA Coordination Office has partnered with the World Customs Organization (WCO) to train three million enterprises on critical export rules under the African Continental Free Trade Area (AfCFTA) agreement. The massive capacity-building initiative, announced during a stakeholders’ workshop in Abuja, forms part of Nigeria’s strategic preparations to harness the $3.4 trillion market opportunity created by the landmark trade pact. Why This Training Matters At the heart of the program is mastering the Rules of Origin – the technical criteria that determine whether products qualify for preferential…

Accra, Ghana – Former Nigerian Ambassador to the United States, Joe Keshi, has issued a stern warning to Nigerians living in Ghana, urging them to obey local laws and stop business practices that are fueling anti-Nigerian sentiments in the West African nation. The diplomat’s comments come after violent “Nigeria Must Go” protests erupted in Accra and Kumasi last month, with Ghanaian traders demanding the expulsion of Nigerian-owned businesses from the retail sector. The demonstrations saw hundreds of locals storming the streets, accusing Nigerian traders of violating investment laws, monopolizing markets, and engaging in illicit activities. “If You’re in Rome, Behave Like…

Lagos, Nigeria – FirstBank has reinforced its position as Nigeria’s sustainability trailblazer, securing the Best Bank for Environmental, Social, and Governance (ESG) award at the 2025 Euromoney Awards for Excellence in London. This marks the second consecutive year the bank has earned this prestigious global recognition. Award-Winning Sustainability Initiatives The bank’s ESG excellence stems from tangible, large-scale projects:  Climate Action Partnered with Nigeria Conservation Foundation to plant 30,000+ trees (target: 50,000 by 2025) Expected to offset 720 tonnes of CO₂ – equivalent to removing 156 fuel-powered cars from roads annually  Inclusive Finance Disbursed ₦43 billion to women entrepreneurs via FirstGem initiative Processed ₦9 trillion through FirstMonie agent network, expanding financial access  Responsible Banking Screened 237 transactions worth ₦3 trillion for ESG…

Dr. Stanley Uzochukwu, Chairman/CEO of Stanel Group and The Delborough Lagos, has marked his birthday with extraordinary philanthropy – donating his personal residence as an orphanage and commissioning a state-of-the-art school in Jos, Plateau State. The business mogul’s Stanley Uzochukwu Foundation (SUF) executed multiple humanitarian projects worth over N1 billion, including: Transformational Projects:  Orphanage Donation: Personal residence converted to shelter orphans WAEC/NECO-Approved School: Fully equipped with: Modern science labs Computer center Free education + feeding for all students Salaries for staff and caregivers Mass Empowerment:  3,500 sewing/grinding machines for widows Wheelchairs for disabled beneficiaries Food items for vulnerable communities The initiative comes after Uzochukwu’s intervention…

Lagos State is taking bold steps to combat unemployment and empower small businesses with Project 100K Jobs, a new initiative by the Lagos State Employment Trust Fund (LSETF). Running from August to November 2025, the campaign will visit 12 locations across the state, offering business loans, job placements, and strategic partnerships to residents. Key Benefits of Project 100K Jobs  Affordable Loans – Small businesses can access 9% interest rate loans with no collateral, flexible repayment, and minimal requirements (BVN, LASRAA ID, and 6-month bank statement). Job Placements – Job seekers in formal and informal sectors will be connected with employment opportunities. Partnership Opportunities – Organizations can collaborate with LSETF to expand impact (contact: info@lsetf.ng). Who Can Apply?…

Nigeria’s digital economy is getting a major boost thanks to Melvin Abia, a tech entrepreneur helping businesses harness technology through his company, Gidiwebs. As a web developer, UX/UI designer, and founder, Abia is on a mission to simplify digital transformation for brands, startups, and entrepreneurs—regardless of their industry. Gidiwebs delivers tailored websites, mobile apps, and digital platforms for sectors like real estate, agriculture, e-commerce, and logistics. These tools are designed to enhance visibility, attract customers, and drive revenue growth. “We’re closing the gap between businesses and technology,” Abia explains. “Digital transformation shouldn’t be a luxury—it should be within reach for everyone.” A standout offering is the “Build Your MVP…

Dangote Cement Plc has called for stronger collaboration between the government and private sector to deliver affordable mass housing for Nigerians, even as it expands its pan-African presence with a new 3Mta grinding plant in Côte d’Ivoire. Speaking at the Africa International Housing Show, Dolapo Alli, National Sales Director of Dangote Cement, emphasized that tackling Nigeria’s housing deficit requires innovative financing and policy incentives, such as tax waivers and public-private partnerships (PPPs). “Mass housing has proven effective globally in easing urbanization pressures,” Alli noted. “While the government’s Renewed Hope Housing Initiative is commendable, scaling up requires private sector involvement—through PPPs, streamlined regulations, and creative funding models.” Nigeria’s housing gap remains…

MTN Nigeria is doubling down on its promise to deliver authentic, customer-driven experiences, blending innovation with meaningful engagement to empower Nigerians digitally. At its recent Customer Engagement Day (CED), the telecom giant connected directly with users—both online and offline—through tech demos, fireside chats, startup pitches, and mentorship sessions. The event also showcased MTN’s fintech arm, MoMo PSB, alongside deep dives into content creation and emerging technologies. A Network Built for Ambition Dr. Karl Toriola, CEO of MTN Nigeria, stressed the company’s focus on quality over cost: “Nigeria already has some of the world’s most affordable data, but we’re investing in consistency and reliability because that’s what…

Cross River State’s airline, Cally Air, is set to expand its operations after leasing two Bombardier CRJ1000 aircraft from Aircraft Finance Germany (AFG)—a move expected to boost regional connectivity and infrastructure in Nigeria’s southern region. The deal, finalized on July 25, was facilitated by AFG Aviation Ireland, with legal advisory from ALN Nigeria | Aluko & Oyebode. The two aircraft (registration numbers MSN 19004 & MSN 19009) can each carry 100 passengers, offering increased capacity for domestic and regional routes. Why It Matters Enhanced Connectivity: The new jets will improve air travel access within Cross River State and neighboring regions. Economic Growth: More flights could stimulate tourism and business travel in southern Nigeria. Strategic…

Nigerian banks must urgently modernize their systems to meet the August 2025 launch of open banking, global consulting firm KPMG has warned. In a new report titled ‘Modernising Core Banking Systems,’ KPMG highlights the risks of clinging to outdated infrastructure as the Central Bank of Nigeria (CBN) prepares to roll out open banking—a system allowing secure sharing of customer financial data between banks and third-party providers (TPPs) via APIs (Application Programming Interfaces). Why Open Banking Matters Customer Empowerment: Users can share transaction history, credit scores, and account details with approved fintechs for tailored services. Innovation Boost: Enables products like virtual accounts, smart cards, and instant cross-border payments. Financial Inclusion: Leverages alternative data (e.g., mobile usage, utility…

Lagos, Nigeria – Ten African fintech companies have been named among the World’s Top Fintech Firms (2025) by CNBC and Statista, spotlighting the continent’s dominance in payments, alternative finance, and wealth tech. Africa’s Fintech Elite  Nigeria (5): Interswitch (Payments, Unicorn) Moniepoint (Payments, Unicorn) Opay (Payments, Unicorn) PalmPay (Payments) PiggyVest (Wealth Tech)  Egypt (2): Fawry (Payments, Unicorn) Paymob (Payments)  Kenya (2): M-Kopa (Alternative Finance) Tala (Alternative Finance)  South Africa (1): Yoco (Payments) Why This Matters  Financial Inclusion: These firms serve millions of unbanked Africans. Global Recognition: Africa now rivals Silicon Valley in fintech innovation. Economic Impact: Combined, they process billions annually and employ thousands. “This isn’t just about rankings—it’s proof Africa is rewriting fintech’s future,” said Mitchell Elegbe, Interswitch founder.

Lagos, Nigeria – The Africa’s Business Heroes (ABH) Prize Competition, Alibaba’s flagship philanthropic initiative, has announced its 2025 Top 50 finalists—showcasing a record-breaking surge in grassroots innovation across all 54 African nations. Key Highlights  Historic Participation: 32,000+ applications (300% spike from underrepresented countries like Somalia, South Sudan). Diverse Representation: Finalists span 17 countries, with 36% female founders and 10% Francophone entrepreneurs. Tech-Driven Impact: AI, fintech, and agritech dominate sectors tackling finance, healthcare, and climate challenges. “These founders prove African innovation isn’t just local—it’s globally scalable,” said Zahra Baitie-Boateng, ABH Africa MD. What’s Next?  Virtual Bootcamp: Top 50 undergo training on AI, investment readiness (August). Semi-Finale: Shortlisted 20 pitch in Dakar (September 10–11). Grand Finale:…

Bauchi, Nigeria – A groundbreaking book, Blueprints for Value Creation by Dr. Obichi Obiajunwa, is revolutionizing innovation education across Nigerian universities, bridging the gap between academic theory and real-world problem-solving. Why Universities Are Raving  Holistic Framework: 14 chapters cover idea generation → business modeling → sustainability. Practical Approach: Uses African case studies to teach scalable innovation. Cross-Disciplinary Impact: Applied in health, engineering, agritech, and education. “It demystifies innovation—finally, a roadmap students can actually use,” says Dr. Isah Yakub Mohammed (ATBU-BOI Innovation Hub). Key Endorsements Dr. Nura Suleiman (UMYU, Katsina): “I paused every chapter to jot down actionable ideas.” Dr. Bamiro Saka (LASU): “A masterpiece for Nigeria’s next-gen innovators.” ATBU Tech Hub: Now using it as mandatory…

Abuja, Nigeria – Former presidential candidate Peter Obi has called for a radical shift in Nigeria’s national honours system, urging the government to prioritize entrepreneurs and productive citizens over politicians for top awards like the GCFR and GCON. Key Points from Obi’s Speech  Award Reform: “National honours should go to job creators like Igbinedion, not just officeholders.”  Igbinedion’s Legacy: Praised the billionaire for employing 17,000+ Nigerians across aviation, education.  Productivity Crisis: “If Nigeria prioritized production, we’d have 20M+ more jobs today.” “We celebrate the wrong people,” Obi declared at the launch of The Chronicles of a Legend, a biography of business mogul Gabriel Igbinedion. “Imagine if we honoured those who actually build economies.” Why This Matters  Current…