Author: Gift Ifeanyi

Former World Bank vice president and treasurer Arunma Oteh has hailed Making It Big, the upcoming memoir of billionaire businessman Femi Otedola, as a brutally honest and essential account of entrepreneurship in a developing country. In advance praise for the book, Ms. Oteh pointed to one of its most striking revelations — Otedola’s candid admission of a personal weakness at a pivotal moment in his career. “When a very successful person openly tells you their weaknesses, you know you are reading an honest account,” Oteh wrote in the blurb. “Femi tells us a frank story of how he stopped being…

The National Directorate of Employment (NDE) has reaffirmed its commitment to bridging the gap between education and employment through targeted skills development and entrepreneurship initiatives in Edo State. Speaking at an empowerment forum, Mrs. Anani praised the NDE’s Graduate Attachment Programme for equipping graduates with practical workplace experience, thereby easing their transition into the labour market. She urged the agency to intensify its outreach campaigns, particularly through radio broadcasts, to ensure rural communities are not left out. Highlighting the importance of women’s economic participation, Mrs. Anani commended the From Farm to Table initiative, which promotes backyard farming by providing women…

Lagos State Governor Babajide Sanwo-Olu has announced that over 30,000 women and youths have been trained across the state’s 19 skills acquisition centres in the last five years. Speaking on Thursday at the graduation ceremony for 5,309 students from the 2024/2025 session of the Ministry of Women Affairs and Poverty Alleviation’s (WAPA) skills acquisition programmes, the governor said the initiative was designed to equip young entrepreneurs with practical skills and tools to start their own businesses. Sanwo-Olu described entrepreneurship as a key weapon in the fight against poverty, stressing that empowering people with skills not only transforms individual lives but…

Lagos State Governor Babajide Sanwo-Olu has urged graduates of the state’s Skills Acquisition Centres to embrace creativity, perseverance, and entrepreneurship as they step into the world of business. Addressing more than 5,000 graduates from the 2024 training cycle under the Ministry of Women Affairs and Poverty Alleviation (WAPA), the governor encouraged them to leverage their newly acquired skills to create jobs and drive economic growth in their communities. The graduation ceremony, held at the Blue Roof, LTV Complex, Ikeja, marked the culmination of months of intensive vocational training in trades such as tailoring, catering, hairdressing, carpentry, bead making, tiling, paint…

The Mary Prince Women’s Entrepreneurial and Leadership Conference opened in Bermuda yesterday with an inspiring keynote from Ibukun Awosika, former Chair of First Bank of Nigeria and a prominent advocate for women’s leadership across Africa. Speaking to a packed audience at Pier Six, Ms Awosika drew a playful yet powerful comparison between her home country of 220 million people, over 350 tribes, and more than 500 languages — and Bermuda’s close-knit island community. “Our diversity is beautiful… but I envy your unity of purpose and your oneness,” she told attendees. “In a small community, disagreements might be over something as…

Held under the theme “From Unification to Diversification: Shaping Nigeria’s Gaming Future,” the Enugu Gaming Conference 2025 positioned gaming not as a side hustle, but as a vital pillar of the nation’s economic backbone. Once limited to lotteries and sports betting, Nigeria’s gaming sector is evolving into a sophisticated, multi-vertical industry — marked by unified data systems, interstate collaborations, and innovations that reach far beyond lucky numbers. As participants agreed, if the goal is to grow a resilient, digitally driven economy, gaming is not just a player — it’s the team captain. The conference brought together state regulators, operators, fintech…

At the Industry Sustainability and Critical National Information Infrastructure Conference in Ikeja, Lagos, Dr. Aminu Maida, Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), underscored the strategic importance of telecommunications as the backbone of Nigeria’s socio-economic growth, national security, and digital sovereignty. Represented by Edoyemi Ogoh, Director of Technical Standards and Network Integrity, Dr. Maida revealed that the telecom sector now accounts for over 14.4% of Nigeria’s GDP, supporting vital industries including banking, energy, healthcare, security, education, and governance. He described telecom assets — from towers and fiber optic cables to data centers, internet exchange points, and international gateways…

At the 2025 Nigeria Annual International Conference and Exhibition (NAICE) in Lagos, TotalEnergies stressed that Nigeria’s long-term energy sustainability cannot hinge solely on hydrocarbons but must be anchored on strategic investment in human capital. Speaking during a panel session themed “Governance and Structuring Human Resources Strategy for a Sustainable Energy Future”, Victor Bandele, Deputy Managing Director, Deepwater Asset at TotalEnergies EP Nigeria, said the company’s six decades in Nigeria have been built on a people-focused approach to sustainability. Bandele cited TotalEnergies’ graduate trainee programme in partnership with the Institute of Petroleum and Energy Studies (IPES) at the University of Port…

In a chilling repeat of escalating violence in Nigeria’s northwest, at least 45 women and children were abducted by gunmen during coordinated overnight raids on five villages in Zamfara State, according to eyewitness accounts. The armed assailants struck late Monday, storming the community of Sabongarin Damri and expanding their assault to nearby villages including Sade, Tungar Tsalle, Tungar Sodangi, and Tungar Musa Dogo. The siege lasted until dawn, leaving residents in fear and mourning. Shehu Musa, the traditional leader of Damri, confirmed the attack in a phone interview with Reuters. “The attackers invaded the communities and kidnapped no fewer than…

The Honourable Minister of Art, Culture, Tourism, and the Creative Economy, Barr. Hannatu Musa Musawa, has formally inaugurated the Planning Committee for the highly anticipated Tourism and Hospitality Summit 2025, in a ceremony held at the Ministry’s Conference Room, Federal Secretariat Phase II, Abuja. Slated for November 24–25, 2025, in Abuja, the summit is being jointly organised by the Ministry and the Nigerian Economic Summit Group (NESG). This strategic gathering aims to reposition Nigeria as a leading destination on the global tourism and hospitality map. Speaking at the inauguration, Minister Musawa emphasised the pivotal role of the sector in driving…

With the release of new operational guidelines for insurtech businesses, the National Insurance Commission (NAICOM) has signalled a decisive shift toward technology-driven transformation in Nigeria’s insurance industry. The guidelines, which came into effect on August 1, 2025, mark a significant milestone in modernising the regulatory landscape and enabling the widespread adoption of digital solutions in underwriting, claims management, product distribution, and customer service. Insurtech—a fusion of “insurance” and “technology”—refers to the innovative use of tools such as artificial intelligence (AI), big data analytics, blockchain, and the Internet of Things (IoT) to boost efficiency, reduce costs, and enhance user experience. These…

Fidelity Bank Plc is gearing up for the third edition of its signature international business platform — the Fidelity International Trade and Creative Connect (FITCC) — scheduled to take place from September 18 to 20 at the Omni Atlanta Hotel at Centennial Park, Georgia, USA. In a bold initiative aimed at boosting cross-border commerce and diaspora-led partnerships, the bank is collaborating with Amplify Africa, organizers of AFRICON, a premier summit celebrating African enterprise and diaspora influence. This partnership underscores a shared commitment to linking African innovation with global business opportunities. “Since launching FITCC in 2022, the event has evolved from…

Nigeria’s struggling electricity sector has taken another hit as a court-appointed receiver has been named for KEPCO Energy Resources and its subsidiary, Egbin Power—the country’s largest power generation company. This move, initiated by lenders, underscores growing concerns about the financial stability of the power industry. According to a public notice released on June 19, attorney Kunle Ogunba was appointed as the receiver/manager on behalf of creditors. The appointment comes amid an estimated ₦2 trillion ($1.31 billion) cash shortfall facing the sector. KEPCO, which holds a 70% stake in Egbin Power, is now contesting the receivership in court. Both companies have…

Despite a new 15% tariff from the United States taking effect Thursday, Nigeria remains resolute in its trade strategy, pivoting toward regional and emerging global markets. Speaking to CNN on Wednesday in Nigeria’s first official response to the tariff, Trade Minister Jumoke Oduwole framed the U.S.–Nigeria relationship as primarily energy-focused and signaled a shift toward broader trade diversification. “The global marketplace offers vast possibilities,” Oduwole said. “We’re actively pursuing trade integration through the African Continental Free Trade Area (AfCFTA). In fact, our non-oil exports to African countries grew by 24% year-over-year in the first quarter.” The minister’s recent tone contrasts…

Despite the widespread adoption of mobile internet in Nigeria, thousands of local businesses remain virtually invisible in local search results — a problem that digital strategist Oladejo Elisha calls one of the biggest missed opportunities for small and medium-sized enterprises (SMEs). From hairstylists in Port Harcourt to law chambers in Lagos, many Nigerian entrepreneurs are still failing to appear in simple Google searches — especially location-based ones such as “plumber near me” or “salon in Ikeja.” But Elisha insists the issue isn’t just technical; it’s a deep-rooted awareness gap that is silently draining revenue. “People aren’t just searching random stuff…

Olusegun Adebayo, founder of HarmonyGroup, has called for a new wave of visionary entrepreneurs to step forward and play a transformative role in solving Nigeria’s persistent economic challenges. He emphasized that unlocking the country’s immense potential requires bold leadership from the private sector—not just reliance on government intervention. In a recent statement, Adebayo highlighted the contradiction between Nigeria’s abundant natural and human resources and the widespread socioeconomic hardship faced by its citizens. Quoting data from the National Bureau of Statistics (NBS), he noted that over 63% of Nigerians live in multidimensional poverty, while youth unemployment exceeds 40%. “Our problem is…

In celebration of Black Business Month, the Nigerian Centre has launched the Washington’s Prosperity Campaign — a bold initiative to highlight the economic and cultural impact of Nigerian-American entrepreneurs and reframe immigration as a driver of prosperity in the Washington metropolitan region. The campaign draws a meaningful connection between the legacy of Black business ownership and the evolving contributions of African immigrants, particularly Nigerians, who continue to shape the economic landscape of the U.S. capital. “Washington’s Prosperity is about returning to our core values — and prosperity is chief among them,” said Gbenga Ogunjimi, Executive Director of the Nigerian Centre.…

The Bank of Industry (BOI) has reiterated its commitment to driving inclusive economic growth by improving access to affordable credit for Nigeria’s micro, small and medium-sized enterprises (MSMEs), as part of the ongoing disbursement of the N75 billion Presidential Intervention Fund. At the recent Presidential Loan Clinic for MSMEs in Abuja, BOI revealed that 662 businesses in the Federal Capital Territory (FCT) have received loan approvals totalling N2.9 billion, with N900 million already disbursed to 262 companies. The event was organised in collaboration with the Office of the Special Adviser to the President on MSMEs and Job Creation. It brought…

At just a teenager, Camille Ananyi is not waiting for the future—she’s creating it. Born in Nigeria and raised between Lagos and California’s Silicon Valley, Camille has lived at the intersection of two dynamic worlds. She recalls her childhood in Lagos filled with curiosity and ambition, but lacking role models in tech who looked like her. That changed one summer when she joined a beginner Scratch coding class at CoCreation Hub in Yaba. That small experience sparked a lifelong mission. Now a student at the prestigious Menlo School in the heart of Silicon Valley, Camille has launched SPARK Tech Africa—a…

FATE Foundation has partnered with Village Capital under the Africa Ecosystem Catalysts Facility (AECF) to accelerate the growth of early-stage entrepreneurs in Nigeria. This strategic collaboration aims to strengthen the country’s startup ecosystem by channeling capital and support to context-specific, high-impact ventures. The AECF, a $4 million initiative backed by the Dutch Entrepreneurial Development Bank (FMO) and the Netherlands Enterprise Agency (RVO), is designed to support startups addressing local challenges around economic mobility and climate resilience in Nigeria, Ghana, and Tanzania. As a newly appointed venture partner, FATE Foundation will leverage its extensive local experience to identify, evaluate, and support…