Author: Gift Ifeanyi

Abuja, Nigeria — October 22–25, 2025: The Federal Capital Territory will take centre stage this October as over 500 high-level participants from 40 countries converge for the Abuja Business Investment Expo, a premier platform for unlocking economic potential in emerging markets. Hosted by the Abuja Investment Company Limited (AICL) under the leadership of Minister of the Federal Capital Territory, Barrister Nyesom Wike, the event will unfold at the President Bola Ahmed Tinubu International Conference Centre — bringing together top government officials, investors, industry leaders, diplomats, financiers, and innovators from around the world. This year’s theme, “Empowering Sustainable Growth: Unlocking Potential…

Lagos, Nigeria — Nigeria’s path to sustainable development will remain blocked unless the nation tackles what thought leaders call its “psychology of underdevelopment” through disciplined governance, citizen responsibility, and values-driven leadership. That was the consensus on Thursday at the Lagos edition of the Development As Attitude National Dialogue Series, organised by the Nigerian Economic Summit Group (NESG) in partnership with the Gates Foundation under the Nigerian Hamilton Project. The conversations drew inspiration from Development As Attitude, a book by Prof. Osita Ogbu, co-chair of NESG’s National Economic Advisory Council, who told participants: “Attitude shapes development outcomes. Without the right mindset,…

Enugu, Nigeria — The Enugu State Government has enlisted global business executive Napa Onwusah to help shape the future of technology and innovation in the state, appointing her to the Advisory Board of the 2026 Enugu Tech Festival (ETF). The appointment comes as part of a broader strategic push following the inauguration of ETF’s Central Planning Committee, which combines a Local Organising Committee with an Advisory Board stacked with heavyweights from Nigeria’s tech scene and the international innovation ecosystem. Dr. Lawrence Ezeh, Enugu’s Commissioner for Innovation, said the Advisory Board will be pivotal in “guiding ETF’s planning and execution to…

Lagos, Nigeria — Once the go-to choice for middle-class Nigerians, foreign-used “tokunbo” cars have suddenly become a luxury item, priced far beyond the reach of the average buyer. A mix of a crashing naira, surging living costs, and new import tariffs has flipped the country’s auto market on its head — and in the process, created an unexpected economic shift where locally used cars are now in the driver’s seat. For car dealer Nurudeen Amodu, the transformation is staggering. “A 2003–2006 Toyota Camry we used to sell for ₦1.5 million now goes for up to ₦10 million,” he said. The…

Accra, Ghana — Ghana is positioning itself for a powerful showing at the Global Entrepreneurship Festival (GEF) in Akure, Nigeria, this November — an event billed as one of Africa’s biggest gatherings for innovation, business, and collaboration. At a press launch in Accra, Mr. Nathan Kwabena Anokye Adisi, GEF Board Member and Event Chairperson, called on Ghanaian entrepreneurs to seize the moment and showcase their ingenuity before an international audience. “GEF is more than a festival — it’s a platform to connect, collaborate, and inspire,” Mr. Adisi said at the GEF Global Business Mixer and press conference. “Our entrepreneurs have…

In Nigeria’s competitive corporate arena, where male dominance once seemed unshakable, one woman has steadily risen to command influence across industries. As Group Chief Executive of Seal Group — a sprawling conglomerate with interests in manufacturing, hospitality, advertising, medical equipment, retail, and branding — she has spent over two decades proving that competence, vision, and resilience are not gender-bound. “Women bring dynamism and focus into the boardroom,” she asserts, pointing to the growing number of female leaders on the boards of banks, global corporations, and government agencies. “The key is vision, the right team, and readiness to play alongside male…

Lagos, Nigeria — August 8, 2025Nigeria’s fourth-largest telecom operator has shed its old skin. On Friday, 9mobile officially rebranded as T2, unveiling an ambitious plan to evolve into a digital-first operator powered by cloud, artificial intelligence, and advanced analytics. Chief Executive Officer Obafemi Banigbe framed the move as a total reinvention rather than a cosmetic facelift. “We are no longer who we were; we are becoming something greater, more ambitious, and more in tune with the future,” Banigbe told a packed audience in Lagos, joined by the Minister of Communications and Digital Economy, Dr Bosun Tijani, and other industry leaders.…

In Nigeria, running a business is like sprinting uphill with a boulder strapped to your back — and the boulder is the financial system itself. The country’s productive economy is locked in a “cash and carry” culture, where immediate payments dominate and credit remains rare, expensive, and risky. In developed economies, the financial value chain — from capital sourcing to resource allocation — acts as an engine for growth. In Nigeria, it behaves more like a toll gate, extracting high costs without adding much value. Punishing Costs, Stalled Growth The numbers tell a grim story: Central Bank MPR: 27.50% (July…

A public debate over heritage and self-identification has erupted after Nigerian-born Dutch businessman Dr. Wiebe Boer criticised UK opposition leader Kemi Badenoch for stating she no longer identifies as Nigerian. Boer, who spent his formative years in Nigeria before acquiring Dutch citizenship, said Badenoch’s stance sends a “deeply problematic” message about cultural roots and representation. His comments, posted Friday on LinkedIn, argue that national identity can transcend geography and citizenship. Badenoch — born in London to Nigerian parents — revealed on the Rosebud podcast with Gyles Brandreth that she had not renewed her Nigerian passport in over 20 years and…

Nigeria’s $20 billion Dangote Refinery, once seen as a game-changer for domestic fuel supply, is navigating growing competition and price pressures as fuel imports again dominate the market. Industry data shows the refinery resumed loading operations Thursday after a week-long halt, with ex-depot petrol prices increasing. While the Dangote Group has not commented publicly on the hike, analysts point to global crude price movements — particularly from the U.S., which supplies roughly half of the refinery’s feedstock — as a likely driver. The pause in operations last week, triggered by a directive instructing marketers to suspend payments to the refinery’s…

Nigeria’s offshore oil and gas sector is set to receive a boost as Warri-based JAD Construction Ltd. moves to acquire two advanced liftboats, strengthening the nation’s ability to support offshore operations and field maintenance. According to industry sources, JAD has entered agreements to purchase the vessels from U.S.-based SEACOR Marine Holdings Inc. for $76 million in cash. The three-legged liftboats — the Jill (built 2014) and the Robert (built 2011) — are designed for a range of offshore services, from platform maintenance to subsea work. Industry analysts say the move reflects a broader trend of Nigerian firms taking ownership of…

Despite growing momentum for local content in Nigeria’s oil and gas sector, gaps in industrial capacity could undermine the country’s push for a self-sustaining energy industry, industry leaders say. Speaking at the Nigerian Council of the Society of Petroleum Engineers’ Annual International Conference in Lagos, Shell Nigeria Exploration and Production Company (SNEPCo) Managing Director Ronald Adams noted that even with rising participation by local contractors, complex projects often require splitting work between Nigerian and overseas facilities — a practice that drives up costs and delays delivery. Adams pointed out that in-country fabrication yards, manufacturing centres, and regional certification systems are…

The Nigerian Exchange (NGX) is making headlines as one of Africa’s top-performing stock markets in 2025, with the All-Share Index (ASI) rocketing by 37.25% as of August 1. This remarkable rally has unlocked a staggering ₦26.61 trillion in capital gains, pushing the total market capitalization from ₦62.76 trillion at the start of the year to ₦89.37 trillion. In dollar terms, the bourse has added $17.4 billion, climbing from $41.84 billion to $58.4 billion in just seven months. One of the most striking outcomes of this market boom is the sharp increase in billion-dollar companies. At the close of 2024, only…

For a growing number of Nigerian women, a smartphone is more than a communication tool — it’s a lifeline, a classroom, and a business hub. By harnessing mobile platforms, they’re creating jobs for themselves, learning new skills, and breaking free from economic limitations. Take Kehinde Fagbemi, for instance. After completing her National Youth Service Corps without securing a traditional job, she turned necessity into opportunity. Her bead-making business found its footing through WhatsApp, Facebook, Instagram, and YouTube — platforms she used not only to sell but also to upskill in areas like graphic design and video editing. The phone became…

Aruwa Capital has set its sights on turning Yikodeen, a homegrown safety footwear manufacturer, into a West African export powerhouse. Founded by entrepreneur Yinka Atunde, Yikodeen is tapping into growing workplace health and safety regulations, positioning itself as a go-to supplier for industries that can no longer compromise on protective gear. “This is the right time for a company like Yikodeen,” said Adesuwa Okunbo Rhodes, managing partner at Aruwa Capital. “Tighter regulations and compliance demands are creating strong market pull, and Yikodeen is perfectly placed to meet that.” Nigeria’s oil and gas sector — once dominated by imports — is…

The Federal Government’s effort to cushion economic hardship has entered a new phase, with the National Cash Transfer Programme now scaled up to reach 15 million Nigerians. Oyo State is directing its share of the scheme toward struggling small business owners, street vendors, and other informal sector workers. In Ibadan, government officials and stakeholders gathered for a sensitisation meeting to outline how the initiative will work on the ground. Representing the Commissioner for Women Affairs and Social Inclusion, Dr. Mofoluwake Ibitoye described the programme as “a lifeline for vulnerable entrepreneurs who are working hard but need extra support to stay…

In a bid to cut costs and broaden its oil supply sources, Pakistan Refinery Limited (PRL) will, for the first time, import Nigerian Bonny Light crude this September from global energy trader Vitol. The 500,000-barrel cargo of light-sweet crude is scheduled to load later this month and arrive in Karachi by late September, according to industry insiders familiar with the deal. While pricing details remain under wraps, the move signals a shift in strategy for Pakistan’s refining sector. Traditionally reliant on Saudi Arabia and the United Arab Emirates for nearly all its crude, Pakistan is now joining other Asian refiners…

The Economic and Financial Crimes Commission (EFCC) has sounded the alarm over the rising incidence of money laundering in Nigeria’s real estate sector, naming some property developers as key enablers due to poor customer verification practices. In a statement released via its social media channels on Wednesday, EFCC Chairman Ola Olukoyede urged developers to conduct thorough Know Your Customer (KYC) checks on investors to ensure their funds come from legitimate sources. Speaking in Abuja at an event themed “Tackling Illegal Property Sales, Fake Developers, and Unlicensed Agents”, Olukoyede said the commission’s findings show that money laundering is “very rampant” among…

Benue State is set for a major industrial boost as the Food Basket Brewery, alongside the Benfruit and Juice factories, is scheduled for inauguration in October 2025. The multi-billion-naira investment is expected to inject fresh momentum into the state’s economy and generate at least 1,500 direct jobs. The Group Managing Director of the Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, revealed on Thursday in Makurdi that the brewery project would cost between ₦10 billion and ₦15 billion upon completion. Speaking after taking delivery of 10 truckloads of machine equipment—adding to the 16 already received out of an…

The President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has reaffirmed the Bank’s commitment to championing African entrepreneurs and driving industrial innovation across the continent. Dr. Adesina made the pledge during a visit to Saglev Electromobility Nigeria Limited, an electric vehicle (EV) assembly and distribution company in Ikorodu, Lagos. The facility, which partners with a Chinese automobile group, produces EVs from semi-knocked-down components for Nigeria and other emerging markets. Currently capable of assembling 2,500 vehicles annually on a single shift—with plans to scale up to 10,000 units—Saglev is positioning itself as a key player in Africa’s green…