Author: Gift Ifeanyi

In an increasingly connected world, cross-border logistics shouldn’t be a luxury—but for many Africans, it still feels that way. That’s what Nigerian startup Cargoplug is out to change. With roots in Nigeria and a growing international presence, the company is streamlining the global shipping experience for African SMEs, global brands, and everyday consumers—especially between key hubs like the UK, US, China, Turkey, and Nigeria. From Frustration to Innovation The journey began in 2013 when co-founders Kikelomo Fola-Ogunniya and Ujama Akpata—both of whom had studied in the UK—struggled to get basic items delivered from British stores to Nigeria. The shipping options…

As electricity costs continue to rise and grid instability disrupts daily life, many Nigerians are turning to solar energy. However, the upfront financial commitment remains a major obstacle. Recognizing this challenge, Luma Power Africa is changing the game by introducing flexible financing options and a modern digital platform to make solar energy more attainable for individuals and businesses across the country. Solving the Real Problem: Affordability Over Availability While Nigeria enjoys abundant sunshine, solar adoption remains slow. The issue isn’t a lack of awareness or technology—it’s the financial strain of initial installation. A recent survey on clean energy trends revealed…

Across Nigeria’s underserved communities, small businesses often face a familiar set of challenges—limited access to capital, poor financial planning tools, and low technical support. But thanks to the innovative work of AI and financial analytics expert Jude Enajero, that’s starting to change. Determined to close the gap between opportunity and accessibility, Enajero is leading a powerful movement to equip grassroots entrepreneurs with intelligent, easy-to-use financial tools powered by artificial intelligence. His mission is clear: put advanced technology into the hands of those who need it most, and drive sustainable growth from the ground up. AI for Everyone For too long,…

Since its 2021 debut in Nigeria, global on-demand delivery platform Glovo has helped local vendors generate over ₦71 billion ($42 million) in revenue, a milestone revealed during its Future of Commerce 2025 summit held in Lagos. This figure highlights Glovo’s rising influence in Nigeria’s bustling e-commerce space, as it steadily moves from being food-focused to a multi-category retail powerhouse. With more than 6,000 vendors operating on the platform across Nigeria, these businesses now account for 13% of Glovo’s 45,000 African partners. Since its African expansion began in 2018, Glovo has funneled over €200 million in investments into six African markets—Nigeria,…

In a new report released by the U.S. Energy Information Administration (EIA), crude oil and fuel inventories across the United States declined notably last week, while imports of Nigerian crude surged to levels last seen in October 2019. According to the data for the week ending May 23, U.S. crude stockpiles dropped by 2.8 million barrels, bringing total inventories down to 440.4 million barrels. This unexpected drawdown contrasts sharply with analyst forecasts, which had predicted a slight increase of 118,000 barrels, as per a Reuters survey. Export Growth and Holiday Demand Fuel Drawdowns The decline was largely driven by a…

Shell is strengthening its foothold in Nigeria’s offshore oil sector with a new deal to acquire a 12.5% stake in the Bonga oilfield from TotalEnergies for $510 million, according to an announcement made on Thursday. The purchase boosts Shell’s ownership in the Bonga offshore field to 67.5%, reinforcing its commitment to deepwater exploration and production in Nigeria. This move comes in contrast to Shell’s recent exit from Nigeria’s onshore sector, which has been marred by environmental and operational challenges. Shell recently offloaded its onshore assets to Renaissance, a consortium comprising four local firms and an international energy partner. Bonga Expansion…

The European Union (EU) has reaffirmed its support for Nigeria’s energy transition efforts, stating that energy efficiency plays a critical role in achieving the country’s target of carbon neutrality by 2060 and strengthening its broader climate action goals. Speaking at the launch of the Energy Efficiency Awareness Campaign organized by the Abuja Chamber of Commerce and Industry (ACCI) on Thursday, Ambassador Gauthier Mignot of the EU Delegation to Nigeria and ECOWAS emphasized that smarter energy use could significantly reduce operational costs for businesses while easing the pressure on the national grid. The campaign, themed “Boost Your Business: Save Energy, Boost…

President Bola Ahmed Tinubu has officially established the National Credit Guarantee Company Limited (NCGC), a pivotal new institution aimed at expanding access to finance for businesses across Nigeria. Alongside its creation, Tinubu approved the appointments of its board members and management team, marking a major step in reforming the country’s credit ecosystem. Announced in a statement from the Presidency on Thursday, the NCGC is capitalized with an initial fund of N100 billion, backed by key government and financial institutions. The company’s primary mission is to de-risk lending and facilitate credit availability to a wide spectrum of Nigerian enterprises—ranging from Micro,…

In a nation where dreams are abundant but building lasting empires is rare, Ehonre Oluwaseun, widely known as Classic Baggie, shines as a beacon of youthful ambition, business innovation, and heartfelt philanthropy. As the CEO of Baggie Group, Oluwaseun has distinguished himself in Nigeria’s competitive business world while earning acclaim for his impactful humanitarian efforts. Classic Baggie’s diverse portfolio spans real estate, luxury cars, logistics, and entertainment, reflecting a dynamic conglomerate driven not only by profit but by meaningful societal contributions. His journey underscores the power of vision, resilience, and the ability to turn challenges into opportunities. Yet, beyond his…

Over the past four years, the South-East region of Nigeria has suffered economic losses totaling ₦7.6 trillion due to the Indigenous People of Biafra’s (IPOB) enforced Monday sit-at-home order, a move aimed at securing the release of its detained leader, Nnamdi Kanu. The affected states—Abia, Anambra, Ebonyi, Enugu, and Imo—have seen widespread shutdowns, impacting key sectors such as trade, transportation, and small businesses. A report by SBM Intelligence revealed that microenterprises lose around ₦4.5 trillion annually, while daily transport losses reach ₦13 billion. The order has also disrupted education, forcing exam cancellations and weekend rescheduling. “The region’s economy has lost…

Nigeria’s Ministry of Steel Development has successfully wrapped up its first-ever Skill Acquisition and Empowerment Boot Camp, celebrating the graduation of 700 young Nigerians at the Metallurgical Training Institute (MTI), Onitsha, Anambra State. The program focused on equipping participants with hands-on skills in welding, fabrication, metallurgy, instrumentation, control systems, and equipment maintenance—key areas for boosting industrial growth. Minister of Steel Development, Prince Shuaibu Abubakar Audu, praised the graduates during the closing ceremony, aligning the initiative with President Bola Tinubu’s Renewed Hope Agenda to combat unemployment and revitalize key sectors. “Our aim was to empower Nigerian youth with practical skills to…

In Nigeria and Kenya, many rural farms and small agro-businesses operate off-grid, relying on fuel generators for power. A recent study by Temilade Sesan, Lucy Baker, and others explores how these communities can shift to renewable energy mini grids—making them both profitable for providers and affordable for farmers. What Are Mini Grids? Mini grids are localized power systems that generate between 10kW to 10MW—often using solar or hydro energy. Unlike national power grids, they are ideal for remote areas. For instance, Nigeria aims to install 2,700 mini grids by 2030 to provide electricity for the 40% of its population still…

Salpha Energy, a Nigerian solar company dedicated to bringing electricity to underserved and off-grid communities, has secured a ₦2 billion (USD 1.26 million) investment from impact investor All On. The funding will fuel Salpha’s expansion, enabling it to grow its range of solar products and scale up its locally operated assembly facility—currently the only female-led solar home system plant in Sub-Saharan Africa. “This capital raise marks a major milestone in our mission to deliver solar solutions that are designed, assembled, and optimized right here in Africa,” said Sandra Chukwudozie, Salpha Energy’s CEO and founder. Based in Lagos, Salpha Energy provides…

In recent years, African startups have increasingly turned to debt financing as venture capital declined. In 2021, debt made up just 6% of startup funding, climbing to 25% in 2023 before stabilizing at 18% in 2024. Debt offers a faster way to access capital without sacrificing too much equity—provided the startup is mature enough. Why Debt and Who Should Use It? Debt can help a growing startup meet immediate needs and maintain control by avoiding unfavorable equity deals. However, it’s not suitable for early-stage companies that lack a proven track record or the cash flow to handle repayments. Instead, once…

At Oxford’s prestigious Saïd Business School, a remarkable story is unfolding—one that redefines what’s possible for African women in global business. Surayyah Ahmad, a Nigerian entrepreneur and investor, has been named among Poets & Quants’ Best and Brightest MBAs of 2025, a recognition reserved for the most exceptional business students worldwide. The list honours individuals who have demonstrated academic excellence, leadership, impact, and entrepreneurial brilliance. Surayyah’s recognition is groundbreaking—not just because of her achievements, but because of where she started. Born into a nomadic Fulani family in Ibadan, Nigeria, formal education wasn’t part of her early life. She began school…

Nigeria’s long-standing reign as Africa’s largest fuel importer has officially come to an end. Thanks to the continued ramp-up of Aliko Dangote’s massive refinery, the country has significantly reduced its dependence on foreign fuel. The new continental leader in fuel imports? South Africa. The transformation comes as Dangote’s $20 billion, 650,000-barrel-per-day refinery—Africa’s largest—begins to operate at higher capacity. Operational since 2024, the refinery marks a major step in Nigeria’s push to refine its own crude oil rather than sending it abroad for processing. “Nigerian imports are dropping as a result of the continued operation of Dangote,” confirmed Elitsa Georgieva, executive…

Young entrepreneurs in Benin now have a chance to transform their startup dreams into thriving businesses as the government rolls out the “Next Impact” program—a bold initiative designed to fuel innovation and job creation. Applications are now open through June 14, 2025. With backing from the World Bank under the PF2E (Employment and Entrepreneurship Training Project), the program offers selected applicants up to CFA30 million in funding, alongside six months of intensive business support—including training, expert coaching, and access to strategic mentorship networks. “Next Impact” is more than just a grant; it’s a full-scale launchpad for young founders. The program…

Dr. Gabriel Ifeanyi Ogbechie, OON—a serial entrepreneur, industrialist, seasoned leader, and engineer—is undeniably one of Nigeria’s most outstanding businessmen. As Group Managing Director of Rainoil Ltd, his legacy is etched in the very fabric of the nation’s energy sector, inspiring generations with a remarkable journey of resilience, innovation, and patriotism. At 59, Ogbechie’s impressive track record is reflected in the numerous awards adorning his office—a testament to his success and influence. Few in Nigeria can claim a legacy as impactful, marked by a deep commitment to improving lives through business. His name commands respect across the energy industry. When he…

As Nigeria joins in celebrating Children’s Day, the country’s financial sector is shining a spotlight on an extraordinary opportunity to build wealth and secure the future of its youth. With collective savings from mutual funds soaring past $8.6 trillion, the Nigeria Securities and Exchange Commission (SEC) is championing a bold vision to nurture the next generation of investors. Emomotimi Agama, Director-General of the SEC, revealed this impressive figure during the recent “My Voice Matters” initiative launch in Abuja—a program designed to equip children with crucial life skills such as financial literacy, entrepreneurship, and creativity. Agama stressed the importance of embedding…

Lagos, Nigeria – The highly anticipated first Nigerian edition of the School, Stationery and Office Equipment Expo (SCOFEX Nigeria 2025) officially opens on Thursday, May 29, 2025, at the Landmark Centre, Victoria Island, Lagos. Organized by Tecburg Private Limited, the event aims to strengthen trade ties and industry development across West Africa. In a statement issued by Ngozi Adindu, Project Coordinator, Tecburg described the expo as the continent’s leading international exhibition for the stationery, school, and office equipment sectors. The Lagos edition marks a significant milestone as the company expands its presence into Nigeria, one of Africa’s largest markets. SCOFEX…