Author: Gift Ifeanyi

Nigeria and Colombia have elevated their diplomatic ties with the signing of a Memorandum of Understanding (MoU) on political consultations, setting the stage for stronger economic and cultural collaboration. The agreement, formalized during the Nigeria-Colombia Bilateral Meeting and Business Forum at the Presidential Villa, was signed by Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, and Colombia’s Deputy Minister for Multilateral Affairs, Mauricio Jaramillo Jassir. According to Jassir, the MoU will pave the way for consistent political dialogue and ease visa approvals for Colombian diplomats, making bilateral engagement smoother and more effective. Shettima Pushes for Economic Transformation Nigeria’s Vice President, Kashim Shettima,…

Nigeria’s digital economy has moved far beyond experimentation, evolving into one of Africa’s fastest-growing engines for consumer engagement and capital inflows. With 38.7 million active social media users in 2025—reflecting a 5.3% jump in just one year—the country’s online ecosystem is advancing faster than many global benchmarks in both innovation and user adoption [1]. This momentum is fueled by a unique blend of factors: nationwide 4G/5G rollout, a predominantly youthful demographic (60% under 25), and explosive growth on platforms like TikTok (56.9%) and X (31.7%) [1]. For investors, the opportunity lies not just in raw numbers but in how local…

Nigeria’s infrastructure finance landscape has undergone a quiet but significant transformation since 2017 with the creation of the Nigerian Infrastructure Credit Enhancement Facility (InfraCredit). The institution, set up through a partnership between the Nigeria Sovereign Investment Authority and the Private Infrastructure Development Group (PIDG), was established to provide guarantees in local currency, reducing risk for investors and enabling the financing of large-scale projects. InfraCredit’s journey began with a USD 25 million contingent capital injection from GuarantCo, PIDG’s guarantee arm. This was further strengthened in 2020 when PIDG’s project development subsidiary, InfraCo, added USD 27 million in equity, boosting the company’s…

Women in Management, Business and Public Service (WIMBIZ) has announced the theme for its 24th Annual Conference: O.W.N – Own. Walk. Nurture. WIMBIZ, a leading non-profit organization dedicated to inspiring and empowering women to attain leadership roles, confirmed that the landmark event scheduled to take place on November 6–7, 2025 at Eko Hotel & Suites, Victoria Island, Lagos, will bring together over 2,000 women leaders, entrepreneurs, professionals, policymakers, and visionaries from across Africa and the globe. According to the Executive Director, Omowunmi Akingbohungbe, the theme “O.W.N – Own. Walk. Nurture.” reflects WIMBIZ’s commitment to inspiring women to take ownership of…

Nigeria is beginning to unlock its vast natural gas reserves after decades of underutilisation, with the Midstream and Downstream Gas Infrastructure Fund (MDGIF) driving projects that promise to lower costs, boost industry, and advance the country’s energy transition. Launched by President Bola Tinubu in early 2024, the Fund was created to plug infrastructure gaps that have long prevented gas from becoming a mainstream energy source. Within its first year, MDGIF has backed 16 companies, financing projects that range from compressed natural gas (CNG) stations to large-scale storage terminals. Some initiatives are already reshaping access to cleaner fuel. FEMADEC Energy has…

Adesola Fabusuyi, founder and CEO of couture and bridal brand Trendencias Apparel, has called on the Federal Government to urgently tackle obstacles crippling Nigeria’s business environment, warning that entrepreneurs are losing ground under harsh conditions. Speaking at a press briefing in Lagos, Fabusuyi said the current climate is discouraging investment, slowing job creation, and weakening the country’s competitiveness. She highlighted unreliable power supply, high production costs, and limited access to finance as persistent barriers to growth. “Unstable power supply is one of the biggest struggles. A sudden outage in the middle of production can throw off our timelines and affect…

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,…