Author: Gift Ifeanyi

Affordable funding remains available for registered Nigerian businesses across key sectors Small business operators in Nigeria now have a valuable opportunity to access affordable finance to scale operations, increase production, or invest in growth—thanks to the ongoing Bank of Industry (BOI) SME loan programme offering up to ₦5 million at attractive single-digit interest rates. The programme targets Micro, Small, and Medium Enterprises (MSMEs) in high-impact industries including agriculture, manufacturing, healthcare, ICT, fashion, and the creative economy. Designed to promote ease of access, the loan scheme features flexible repayment plans and, in many cases, does not require collateral. To qualify, businesses…

Top figures from business, government, and development sectors will gather in Kano on June 5, 2025, for the upcoming For The Love of The Country (FLOC) summit, a pivotal event aimed at transforming Nigeria’s economic direction over the next decade. Titled “Reimagining Nigeria’s Economy for a Prosperous Future: Where We Should Be in the Next Decade,” the conference is set to ignite forward-thinking discussions on economic renewal and long-term national growth. According to convener Atinuke Odjenima, Kano was selected deliberately for its historic importance in commerce, agriculture, and enterprise. “Kano’s legacy as an economic powerhouse makes it the ideal location…

Nigerian manufacturers are raising the alarm over what they describe as aggressive tactics by banks regarding unresolved foreign exchange forward contracts facilitated through the Central Bank of Nigeria (CBN). These contracts, remnants of Nigeria’s now-defunct fixed exchange rate system, have left many manufacturers exposed, with the Manufacturers Association of Nigeria (MAN) reporting that members are facing punitive actions such as account freezes due to the unsettled obligations. In a statement, the Lagos-based group decried what it called “unjust and excessive actions” from banks. “Our members continue to encounter unjustified complications and harsh treatment from their lenders,” the association noted. Attempts…

Renaissance Africa has unveiled a major expansion initiative, committing $15 billion toward Nigeria’s oil and gas sector over the next five years. The plan focuses primarily on hydrocarbon operations in the Niger Delta, with 32 projects in the pipeline—22 of which are dedicated to enhancing gas export infrastructure. The company aims to more than double its current gas output, raising production from 4 million cubic meters per day (1.5 billion cubic meters per year) to 8.5 million cubic meters daily (3.1 billion cubic meters per year). This move aligns with Renaissance Africa’s long-term strategy to optimize its energy portfolio—balancing increased…

In a dynamic episode of Drinks and Mics, tech investor Olumide ‘Otunba Sho’ Soyombo joined hosts Ugo Dre, Tunji Andrews, and Arnold Dublin-Green to explore how Nigeria’s startup ecosystem is adapting in the face of recent economic upheavals. Soyombo, co-founder of Bluechip Technologies and a prominent backer of more than 100 startups, shared raw insights into the pressures founders face in today’s climate. The conversation delved into everything from financial discipline to the harsh realities of investor-founder dynamics. No topic was off-limits—from startups using investor funds for extravagant lifestyles to the emotional impact of founder disappointments. Soyombo emphasized that investing…

The International Islamic Trade Finance Corporation (ITFC) and the Trade Development Fund (TDFD) have joined forces with the Oil Sustainability Program (OSP) and BURN Manufacturing to roll out a clean cooking initiative aimed at transforming household energy use in Nigeria. The agreement, signed at the Saudi Ministry of Energy in Riyadh, outlines plans to produce and distribute 20,000 LPG (liquefied petroleum gas) cooking kits to underprivileged households. Each kit includes a gas cylinder, stove, and key accessories, along with user education on safety and sustainability. This multi-year project—spanning eight years—includes direct financial support for household LPG refills, to be sustained…

Vice President Prof. Yemi Osinbajo is set to lead a distinguished lineup of public and private sector leaders at the 2020 Annual Directors’ Conference organized by the Institute of Directors (IoD) Nigeria. The conference, themed “Business Ethics, Leadership & Sustainability as New Frontiers of Corporate Governance,” will run virtually from November 3 to 4, in response to COVID-19-related safety restrictions. The event, as revealed by IoD Nigeria’s Director General, Mr. Bamidele Alimi, will also feature Hon. Femi Gbajabiamila, Speaker of the House of Representatives, as the special guest at the “Business Meets Government Forum,” while the Minister of Industry, Trade…

In a bold move to transform its economic landscape, Enugu State has launched a new Ease-of-Doing-Business Council aimed at attracting private investment and scaling its economy from $4.4 billion to $30 billion over the next eight years. The initiative signals the state’s readiness to eliminate bottlenecks and create a business-friendly environment across key sectors. By streamlining processes and enhancing infrastructure, the government hopes to become a leading destination for investors. Key reforms include the introduction of ENGIS (Enugu State Geographic Information Systems), which simplifies land acquisition, and the creation of a one-stop center for processing permits. These reforms are supported…

For decades, Nigeria has carefully managed the country’s deep ethnic and religious diversity through an unwritten political code: presidential appointments should reflect the country’s pluralism. But critics say that under President Bola Ahmed Tinubu, that balance is under increasing threat. Though Nigeria’s constitution mandates federal character in cabinet-level appointments, previous administrations often extended this principle to other strategic roles in government to promote inclusion and national unity. The concern today? A growing sense of marginalization, especially from northern communities, over what they see as President Tinubu’s disproportionate preference for his Yoruba ethnic group in some of the country’s most powerful…

In a powerful show of support for homegrown talent and Nigerian-made fashion, BetKing, a leading digital sports betting brand, played a pivotal role as a key sponsor of the 2020 Aba Fashion Week—bringing significant benefits to local entrepreneurs. The event, which ran from December 7 to 11, 2020, was a celebration of fashion innovation and creative enterprise, packed with standout activities like the Street Fashion Show, Ankara Carnival, and Fashion Masterclasses, all culminating in an electrifying Runway Showcase. According to Ruby Chuku, BetKing’s Head of Products, the company’s involvement was more than just sponsorship—it was a strategic commitment to fueling…

In a country where financial constraints often block access to growth opportunities, BOSSA Academy is changing the narrative for thousands of Nigerians. Since its inception in 2020, this innovative online learning platform—an initiative of Betteroffservice Advertising Agency—has delivered over ₦100 million worth of free internet data, practical digital skills training, industry-recognized certifications, and career opportunities to more than 7,000 individuals across Nigeria. What started as a modest mentorship program focused on digital marketing for small business owners has blossomed into a vital resource for students, entrepreneurs, and professionals striving to succeed in Nigeria’s fast-changing digital economy. The spark for BOSSA…

Olajumoke Familoni, professor of entrepreneurship and president of ICLED Business School, Lekki-Lagos, has revealed that Nigeria’s economic development can receive a significant boost through the mechanisation of the traditional adire fabric production process—a project currently championed by her institution. Speaking on Saturday, May 24, during a doctorate degree conferment ceremony held in collaboration with the University of America, Curacao, Netherlands, and California, USA, Familoni emphasized the transformative potential of this initiative. “We’re collaborating with the Alake of Egbaland on an innovative project to mechanise the adire production process. This venture is set to create a major impact on Nigeria’s creative…

Seyi Vodi, the celebrated Nigerian shoemaker and fashion entrepreneur, is no stranger to hosting notable personalities in his shop. From famous musicians like 2Baba to influential public figures, his store has welcomed many visitors. But when the Vice President of Nigeria, Kashim Shettima, showed up unexpectedly, it was a moment that caught many by surprise—including me. I had to pinch myself, wondering, Is this really the VP? For every Nigerian who cares deeply about the nation’s growth, witnessing Vice President Shettima’s visit to Vodi’s shop was historic. In many countries, it’s common for top leaders—be it the US President or…

Dr. Dennis Zulu, the Country Director of the International Labour Organisation (ILO) in Nigeria, has highlighted skill mismatch as a significant factor behind the country’s growing unemployment rates. Speaking at the launch of the Vision to Fruition symposium series organized by the Network of Social Entrepreneurs (NOSE), Dr. Zulu emphasized that many multinational companies hesitate to hire Nigerian applicants because they lack the skills demanded by today’s job market. According to Dr. Zulu, the current school curriculum no longer aligns with the needs of 21st-century employers, creating a gap between education and employment opportunities. He also pointed out that a…

Rep. Abdussamad Dasuki, the representative for Kebbe/Tambuwal Federal Constituency in Sokoto State, has launched a significant empowerment drive aimed at uplifting youth entrepreneurship and enhancing agricultural productivity across his constituency. In the first phase of the initiative, 150 young small and medium enterprise (SME) owners each received ₦300,000 cash grants to grow and sustain their businesses. The event marking this milestone also saw the inauguration of a special committee responsible for managing the upcoming distribution of 900 livestock and farm tools to local farmers. The distribution will be overseen by Dasuki’s Senior Legislative Assistants—Hon. Attahiru Danmadi and Hon. Adamu Haruna—who…

Dangote Industries Limited has been honored as the “Most Admired African Brand” at the 15th annual Brand Africa 100 awards, held recently at Africa Hall in Addis Ababa, Ethiopia. Founded by billionaire industrialist Aliko Dangote, the Nigerian conglomerate earned this top accolade through a consumer-driven survey spanning over 30 African countries. The recognition underscores Dangote Group’s wide-reaching influence and strong reputation across the continent. In a historic milestone, Dangote Industries was also inducted into the Brand Africa Hall of Fame, becoming the very first African-owned company to receive this prestigious distinction. Adding to the celebration, Aliko Dangote himself received a…

The Federal Government has reaffirmed its dedication to expanding gemstone and jewellery-making centres nationwide as part of its drive to boost entrepreneurship in the mining sector and advance local value addition policies. Minister of Solid Minerals Development, Dele Alake, made the announcement during a recent visit to the Laurel School of Mining in Abuja, praising the institution for its leading role in training jewellery and gemstone artisans. He expressed satisfaction with the quality of products, noting that they rival the best in the international market. “From raw materials like gold, sapphire, and other gemstones, this centre is now producing finished…

In a bold stride towards empowering the nation’s youth and promoting economic equity, the All Progressives Congress (APC), through its Youth Wing, is rolling out a dynamic new initiative known as the Enterprise-Skills Development Training (EDET) Programme. This five-day intensive boot camp is geared toward equipping over a thousand aspiring young business owners with the practical knowledge and strategic insight needed to launch, expand, and innovate within Nigeria’s diverse economic sectors. The event is set to feature high-profile personalities, including Lagos State Governor Babajide Sanwo-Olu and Dr. Abdullahi Ganduje, adding weight to the programme’s credibility. Dr. Dayo Israel, APC’s National…

Layal Jade Tinubu has extended over ₦70 million in funding to 20 women-led businesses through the latest installment of the Be Empowered programme—a transformative initiative launched in collaboration with the Noella Foundation. Held on Saturday, April 12, 2025, in Lagos, the one-day summit welcomed more than 150 attendees and focused on bolstering women’s roles in the entrepreneurial space. The event was the climax of the second edition of the programme, which attracted a nationwide response of over 2,500 applicants. From this large pool, 200 entrepreneurs were selected to participate in the summit. Five of them had the opportunity to present…

The Standards Organisation of Nigeria (SON) has taken a significant step toward strengthening local industries with the inauguration of a new training and laboratory centre in Kano, aimed at equipping Northern entrepreneurs with the knowledge and tools to meet international quality benchmarks. Mr. Faruk Salim, Director-General of SON, announced the development during the official commissioning of the facility. He reiterated SON’s commitment to improving the quality of Nigerian products to enhance their competitiveness in global markets. According to Salim, the training hub is designed to expose business owners to modern practices in product standardisation, ensuring their goods meet global acceptance…