Author: Gift Ifeanyi

Nigeria’s financial system is battling more than economic headwinds — it is grappling with a deep-rooted trust crisis. From collapsed banks to the rise of Ponzi schemes, years of broken promises have left citizens wary of institutions meant to safeguard their wealth. This distrust is not confined to the poor or uninformed. Middle-class professionals, entrepreneurs, and even wealthy investors routinely fall prey to fraudulent platforms promising outsized returns. Behind every collapse is a trail of lost savings, dashed hopes, and growing skepticism toward legitimate financial products. Temitope Ijibadejo, Africa Regional Director at SquaredFinancial, sees this as the biggest threat to…

Nigeria’s recent decision to suspend raw shea nut exports for six months has sparked mixed reactions, with experts weighing both the benefits and drawbacks. Professor Mohammed Ibrahim, former secretary of the National Shea Products Association of Nigeria (NASPAN) and communications officer at the Centre for Shea Research, Federal University of Technology, Minna, told BBC News Pidgin that while the government’s move could strengthen the local economy, it also threatens to unsettle investors who have already committed large sums to the industry. The federal government explained that the ban aims to shift Nigeria from being a major supplier of raw nuts…

Small and medium-sized enterprises (MSMEs) are the engine of Nigeria’s economy, making up nearly 90% of businesses and employing millions. From delivery startups to street food vendors, these enterprises keep local markets alive. Yet, their growth is weighed down by steep operating costs, unreliable transport, and the rising price of fuel. Into this gap steps Spiro, a company reshaping mobility for small businesses with its fleet of electric motorcycles. More than just a transportation alternative, Spiro’s model is redefining how entrepreneurs operate, offering both economic relief and environmental benefits. Electric bikes bring clear advantages: fewer emissions, less noise, and healthier…

Swiss construction giant Holcim has completed the sale of its 83.81% controlling interest in Lafarge Africa PLC to China’s Huaxin Cement for USD 1 billion. The transaction strengthens Holcim’s financial flexibility, enabling the company to channel resources into its growth strategy, while Lafarge Africa continues operations in Nigeria under new ownership. The move is part of Holcim’s broader portfolio realignment, allowing it to sharpen focus on global priorities in sustainable construction. For Nigeria, Huaxin Cement’s takeover signals continuity in business operations, with expectations of fresh investment to drive long-term development. On the financial markets, Holcim’s stock (CH:HOLN) carries a “Hold”…

Nigeria is preparing to host the Nigeria International Lighting Expo (NILE) 2025 in Lagos from September 17–19, an event that goes beyond trade exhibition to highlight the country’s ambitions in energy transition and its growing partnership with China. Organised by Zhongsheng International Business (Zhongshan) Co. Ltd., the Expo will spotlight the theme “Zero-Carbon Lighting: Supporting Nigeria’s Energy Transition Goals,” aligning directly with the federal and Lagos State government’s agenda to push renewable, energy-efficient solutions across urban infrastructure. With nearly 100 international exhibitors — including brands like C-TORCH, AKT, VELLMAX, BLUE CARBON, and VANGE SOLAR — and more than 5,000 buyers…

This September, Lagos will welcome thousands of professionals, innovators, and faith-driven leaders from across the world for the Light Conference 2025, a fast-rising platform shaping how purpose and enterprise intersect. The gathering, which expects over 3,000 in-person and virtual participants spanning 21 nations, goes beyond traditional networking. It is designed as a spiritual and intellectual ignition point where attendees gain strategies to influence industries while staying anchored in kingdom values. One of the highlights of the conference is the unveiling of Haoma Worgwu’s new book, From Unknown to Globally Recognised LinkedIn Queen. The book distills her journey of exponential growth…

Nigeria is preparing to roll out a National Data Exchange (NGDX), a project set to reshape how government, businesses, and citizens interact in the digital space. Positioned as the “third pillar” of the country’s digital public infrastructure—alongside the national identity system and payments network—the NGDX is expected to improve service delivery while safeguarding data privacy. The recent Digital for Development (D4D) Hub conference in Abuja convened lawmakers, regulators, private sector leaders, and global partners to map out the governance and technical framework of the NGDX. EU representative De Luca emphasized Nigeria’s role as a key partner in Europe’s Global Gateway…

Dr. Awele Elumelu, founder of Avon HMO and Avon Medical, has urged investors to look beyond Nigeria’s challenges and recognize the country as a “goldmine waiting to be unlocked.” Delivering the keynote address at the Lagos Chamber of Commerce and Industry (LCCI) International Business Conference and Expo 2025, Elumelu—who also serves as Co-Founder of the Tony Elumelu Foundation and Director at Heirs Holdings—argued that Nigeria’s pressing issues present the greatest opportunities for innovation-driven growth. “With a population exceeding 226 million, abundant natural resources, and a generation of young innovators ready to shape the future, Nigeria stands out as one of…

Nigeria’s economy is at a crossroads. Despite being Africa’s largest market and resource hub, its manufacturing sector contributes only 9.62 per cent of GDP—well below the global leaders such as China (≈30 per cent) and even below South Africa, Africa’s best performer at 13 per cent. This shortfall is not merely a number; it is the missing link in Nigeria’s quest for sustainable growth, job creation, and stronger global trade competitiveness. From Raw Materials to Finished Products The question Nigeria must confront is straightforward: what exactly are we exporting, and in what form? Today, much of the country’s exports are…

Access Holdings Plc has appointed seasoned banker Innocent Ike as its new Group Managing Director/Chief Executive Officer (GMD/CEO), effective 29 August 2025, following regulatory approval. The announcement, signed by the Company Secretary Sunday Ekwochi, confirmed that Ike’s appointment aligns with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies (2023), which caps the number of board directors at nine. His emergence follows the resignation of Roosevelt Ogbonna from the board as Non-Executive Director after three and a half years of service. Ogbonna, however, will continue in his role as Managing Director/CEO of Access Bank Plc, the Group’s…

For Nigerian tech founders seeking to take their startups global, Canada’s Startup Visa (SUV) program presents more than just an immigration pathway — it’s a strategic business opportunity. Launched in 2013, the program is designed to attract innovative entrepreneurs, giving them a chance to build globally competitive businesses while securing permanent residency in Canada. What Makes the Startup Visa Unique? Unlike traditional work permits, the SUV integrates immigration with entrepreneurship. Founders don’t have to choose between moving first and building later — both happen in parallel. The core requirement: an innovative business idea that solves a real problem and demonstrates…

When Alhaji Alkasim Usman opened a small jewellery shop in Jos more than three decades ago, he could hardly have imagined the brand that would emerge. What began as a modest family business has grown into a household name with multiple branches across Plateau State and Abuja, celebrated for its craftsmanship, artistry, and trustworthiness. Today, that legacy is in the hands of his son, Alkasim Usman Jr., a 29-year-old entrepreneur who blends inherited values with modern innovations to keep the family brand shining. Born in September 1995, Alkasim grew up watching his father’s commitment to honesty, transparency, and loyalty to…

Instead of viewing Nigeria’s electricity shortfall as a crisis, energy leaders are urging investors to see it as one of Africa’s biggest business opportunities. At the Lagos Chamber of Commerce and Industry’s 2025 International Business Conference & Expo, Ronald Adams, Chairman of All On and Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo), argued that closing the gap could unlock $10–20 billion in new investments. Adams noted that while more than 80 million Nigerians still lack access to reliable electricity, the unmet demand represents a thriving market for off-grid innovations like mini-grids, solar systems, and clean cooking…

Abuja is gearing up for a groundbreaking gathering this October as scientists, innovators, policymakers, and media leaders converge to rewrite Nigeria’s story in science and technology. From October 21–23, 2025, the African University of Science and Technology (AUST) in Abuja will host the maiden National Conference on Communicating Science, Technology, and Innovation (STI) — a three-day event designed to bridge the gap between research and real-world impact. Dr. Bosco Okolo-Obi, chairman of the Local Organizing Committee, said the conference aims to make science more accessible, understandable, and actionable, ensuring that research doesn’t just end in journals but translates into policies,…

Nigeria is raising the stakes in its digital economy by rolling out stricter Value Added Tax (VAT) rules that directly target global platforms — from Netflix and Spotify to Amazon Web Services and online marketplaces. Signed into law by President Bola Tinubu under the Nigeria Tax Act, 2025, the reforms require non-resident providers of digital services consumed in Nigeria to register with the Federal Inland Revenue Service (FIRS), charge 7.5% VAT, and remit it locally. The move places Nigeria in line with more than 120 countries that now tax foreign digital services, signaling that Africa’s largest economy wants to capture…

Running a business without proper data is like driving blindfolded—you might move forward, but disaster is almost certain. Unfortunately, that’s the reality for many small and medium enterprises (SMEs) in Nigeria. While the economy is tough, one overlooked reason so many SMEs collapse is bad decision-making fueled by poor or non-existent business intelligence (BI). Owners often blame inflation, power shortages, or government policies. But behind the scenes, weak data practices—no financial records, random hiring, ill-informed product launches—cripple their chances long before the economy does. Why Data Quality Is Make-or-Break Business intelligence only works when the data behind it is solid.…

Nigeria’s capital market is in the middle of a historic transformation. During his recent state visit to Brazil, President Bola Tinubu told the leadership of the Securities and Exchange Commission (SEC) and NGX Group that his administration’s reforms are turning the Exchange into a trusted engine of growth and positioning Nigeria as Africa’s premier investment hub. “Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation,” Tinubu said. From Reform to Results The results are already visible: Market values and trading volumes have nearly…

Africa’s ambition to feed itself took a bold step forward as Ethiopia sealed a landmark partnership with Nigeria’s Dangote Group to establish a massive $2.5 billion fertiliser plant in Gode, southeastern Ethiopia. The project, unveiled by Prime Minister Abiy Ahmed, is designed to manufacture 3 million metric tons of fertiliser annually, a move expected to reduce the continent’s heavy reliance on imports and strengthen domestic food production. At the signing ceremony in Addis Ababa, Ethiopia’s state-owned Ethiopian Investment Holdings (EIH) confirmed that it will hold a 40% equity stake, while Dangote Group secures 60% ownership of the venture. For Africa’s…

Imagine walking into a store and finding designer shoes priced at less than half their value. Tempting, right? That’s exactly the situation in Nigeria’s stock market today. Fifteen companies — spanning banks, insurers, real estate, and industrials — are trading below the worth of their net assets. Their average price-to-book (P/B) ratio is just 0.60. In theory, investors are paying less than a company’s actual value. But here’s the catch: sometimes a discount means a deal, and sometimes it means the product is faulty. The Banks: Strength Hidden Behind Discounts Nigeria’s major banks — Zenith, UBA, Access, FCMB, ETI, and…

In Nigeria’s unpredictable economy, companies are constantly juggling inflation, interest rate swings, and limited access to capital. For many entrepreneurs, the real challenge isn’t ambition or opportunity—it’s securing the equipment and infrastructure needed to grow. Buying assets outright or relying on bank loans is increasingly unfeasible. With borrowing costs climbing as high as 25–35%, small and medium-sized enterprises (SMEs) are being priced out of traditional financing options. This is why leasing has become a lifeline. Instead of sinking scarce funds into heavy upfront investments, businesses are adopting flexible lease models that preserve cash flow while providing immediate access to tools…