Author: Gift Ifeanyi

Artificial Intelligence (AI) agents are quickly becoming essential tools for businesses—especially in Nigeria—by handling repetitive tasks, improving efficiency, and supporting growth. These intelligent systems are not just rule-followers; they learn, adapt, and become more efficient with time. For small and medium-sized enterprises (SMEs), AI agents offer a reliable way to cut costs, increase productivity, and deliver better customer service without the need for constant updates or manual oversight. Solving Real Problems in the Nigerian Business Landscape In a country where frequent power outages, unstable internet, and workforce shortages pose daily challenges, AI agents offer much-needed resilience. They keep operations running…

Over a decade after the 2013 privatization of Nigeria’s power sector,a new era is unfolding—one where the country’s most influential billionaires are firmly taking charge. These power players are rapidly replacing the original investors in both electricity generation and distribution, reshaping the sector and creating a billionaire-led energy empire. Today, wealthy Nigerians control over 75% of Nigeria’s electricity generation, with major stakes in distribution companies (DisCos) as well. The only part of the power supply chain still under government control is the Transmission Company of Nigeria (TCN). The Billionaire Power Club At the forefront is Aliko Dangote, Africa’s richest man,…

Dubai, UAE — April 14, 2025 — Nigerian marketing powerhouse Ayodeji Razaq has etched his name on the global stage as he emerged the winner in the Marketing & Communications category at the prestigious Forty Under 40 Global Awards 2025. Held on April 12 in Dubai, the ceremony honored visionary leaders from around the world under the theme “Connecting Global Champions.” Dressed in a rich burgundy agbada and red cap, Razaq stood tall as he received his award from Mike Tankel, symbolizing a powerful moment of pride for Africa’s growing marketing and communications industry. As Group CEO of RED and…

Abuja, Nigeria — April 2025 — Nigeria’s financial stability is facing fresh threats as crude oil production continues to slide, hitting its lowest level yet this year and placig significant pressure on dollar earnings and national budget funding. According to the latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), oil production — including crude, blended, and unblended condensates — dropped by 68,177 barrels per day (bpd) in March, dipping to 1.60 million bpd from February’s 1.67 million bpd. A closer breakdown reveals that crude oil output was 1.4 million bpd, with condensates accounting for 202,993 bpd (55,827 blended…

Abuja, Nigeria — April 2025 — The Federal Government is in the process of securing $2.3 billion to transform Nigeria’s fragile transmission infrastructure, according to the Minister of Power, Adebayo Adelabu. In a statement released on Sunday, Adelabu revealed that the funds will be used to significantly boost the power sector’s transmission capacity through critical upgrades—most notably under the Presidential Power Initiative (PPI), also known as the Siemens Project. The initiative is part of a broader strategy to stabilize Nigeria’s energy supply and improve access across both urban and underserved communities. “The government of Germany has been instrumental in facilitating…

Lagos, Nigeria — April 2025 — Former Nigerian Bar Association (NBA) President, Dr. Olisa Agbakoba (SAN), has called for a complete overhaul of Nigeria’s political and economic strategy, saying only a “disruptive development plan” can unlock the nation’s potential to achieve a ₦500 trillion national budget by 2027. Speaking on ARISE NEWS during a segment discussing his newly released report, “Governance and Economic Analysis and Forecast 2025,” Agbakoba stressed that traditional development plans have failed to produce meaningful results for decades. “It might sound ridiculous, but Nigeria can hit a ₦500 trillion budget target. We just have to stop doing…

Lagos, Nigeria — April 2025 — As the UK-Nigeria trade relationship enters a period of substantial growth, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, visited Moniepoint’s UK office to reaffirm the United Kingdom’s commitment to deepening economic collaboration with Nigeria through strategic partnerships. The visit emphasizes the pivotal role of cross-border collaboration in driving innovation, inclusive growth, and digital transformation—key areas that have become central to both countries’ future economic agendas. Moniepoint: A Model of Bilateral Collaboration Moniepoint, a rapidly growing African fintech powerhouse, is a prime example of how bilateral cooperation can unlock significant economic opportunities.…

Lagos, Nigeria – April 2025 – Rack Centre has officially inaugurated its latest data center, LGS2, marking a significant milestone in Nigeria’s digital infrastructure. The commissioning ceremony, held on Thursday, April 10, was officiated by Lagos State Governor Mr. Babajide Olusola Sanwo-Olu, represented by Deputy Chief of Staff Mr. Sam Egube. This new facility is set to play a critical role in addressing the growing data demands across various sectors, including fintech, telecoms, e-commerce, and cloud services. A Vision of Innovation and Resilience In his welcome address, Mr. Maher Jarmakani, Chairman and CEO of Jagal Group, the majority shareholder of…

The Central Bank of Nigeria (CBN) has announced that a combination of strategic macroeconomic reforms, improved trade performance, and renewed investor confidence is beginning to yield positive results for the Nigerian economy. Speaking at the 36th Enugu International Trade Fair, hosted by the Enugu Chamber of Commerce, Industry, Mines, and Agriculture (ECCIMA), the CBN revealed a significant turnaround in the country’s economic outlook — with a $6.83 billion balance of payments surplus recorded at the end of 2024. This marks a remarkable recovery from deficits of $3.34 billion in 2023 and $3.32 billion in 2022. Economic Turnaround in Motion Delivering…

Franca Obialor, branding entrepreneur and CEO of A’lor Consults Limited, has spotlighted multiple taxation as one of the greatest obstacles facing small and medium-sized enterprises (SMEs) in Nigeria. Speaking during the PR Tea Conference hosted by Hustle Africa in Ikeja, Lagos, Obialor expressed concern over the growing tax burden placed on businesses, warning that it’s increasingly becoming a barrier to growth, innovation, and sustainability for many entrepreneurs. “The reality is that multiple taxes significantly increase our operational costs,” she said. “This strain makes it difficult for many businesses to survive, let alone thrive.” Navigating Challenges Through Strategic Branding Despite the…

President Bola Ahmed Tinubu has praised Tijani Babatunde Folawiyo, Chairman and CEO of Yinka Folawiyo Group, for his outstanding contributions to Nigeria’s economic development, lauding his visionary leadership in sectors like energy, manufacturing, and digital infrastructure. In a heartfelt tribute marking Folawiyo’s 65th birthday, the President described him as: “A beacon of Nigeria’s entrepreneurial excellence and a steadfast advocate for national progress.” A Legacy of Impactful Investments President Tinubu acknowledged Folawiyo’s instrumental role in job creation and attracting private capital to the country, thanks to his strategic investments and leadership across key sectors of the economy. Through his work with…

A groundbreaking study has unveiled how deeply rooted cultural practices and traditional systems continue to shape the remarkable entrepreneurial success of the Igbo people of Southeastern Nigeria. Presented by Eze Simpson Osuagwu, a seasoned academic and researcher, the study—titled “The Igbo Entrepreneurship System: A Model for Stakeholder Capitalism”—was showcased at the Centre for the Study of African Economies, St. Catherine’s College, University of Oxford. Key Findings from the Study Drawing from a sample of 2,000 entrepreneurs across major Nigerian cities including Aba, Onitsha, Nnewi, Lagos, and Abuja, Osuagwu’s research established a clear connection between culture and economic development. Using Propensity…

In a bold step to reshape the narrative about Nigeria and celebrate the nation’s resilient spirit, the National Orientation Agency (NOA) has partnered with media advocate and Founder of the Akin Fadeyi Foundation, Akin Fadeyi, to launch the inspiring initiative, “Nigeria Happens to Me.” This project seeks to highlight the untold stories of everyday Nigerian entrepreneurs who, despite overwhelming odds, continue to thrive in business, creativity, and innovation. A New Narrative for Nigeria Sharing his thoughts on the project via his official Facebook page, Akin Fadeyi remarked: “Nigeria can happen to us in many ways. While our national story includes…

Prominent human rights lawyer and activist, Femi Falana (SAN), has issued a passionate call to Nigerian youths, urging them to rise and take back the country from the older generation. Speaking at the 6th Annual Youth Leadership Conference held at the University of Lagos, themed “RISE 2025 – Resilience, Innovation, Social Responsibility and Entrepreneurship,” Falana emphasized the need for young people to reclaim Nigeria and redefine its future. “We Lived with Dignity—You Deserve the Same” Addressing the audience, Falana lamented the current state of the nation, noting the stark contrast between his generation’s experience and what young Nigerians are facing…

In a bold move to combat youth unemployment and economic stigmatization, the Ebonyi State Government has unveiled plans to train and empower over 200 artisans through a newly restructured skills acquisition and entrepreneurship development program. The initiative, dubbed “Skill-Up Ebonyi,” was announced by the Commissioner for Skills Development and Job Creation, Mr. Okwu Oko-Udu, during a media briefing in Abakaliki, the state capital. Changing the Narrative for Ebonyi Youth Commissioner Oko-Udu emphasized that the scheme, approved by Governor Francis Nwifuru, aims to eliminate the negative stereotype that many Ebonyi youths are street hawkers. “This empowerment scheme is a strategic step…

The Republic of Guinea has extended a strategic invitation to Nigerian businesses to participate in ongoing mega projects valued at over $20 billion, signaling a new era of economic cooperation between the two West African nations. This invitation was made by Guinean Ambassador to Nigeria, Siaka Cissoko, during a media briefing held at the Guinean Embassy in Abuja on Sunday. Opportunities for Nigerian Expertise Ambassador Cissoko encouraged Nigerian companies to seize investment opportunities in Guinea’s booming mining, infrastructure, and industrial sectors—areas where Nigerian firms have shown notable expertise and competitive strength. “As I speak to you, there is an ongoing…

Dr. Stephen Akintayo, Chairman of GTEXT Holdings, has called on Nigerian governors to shift from political posturing to purposeful action by forging direct partnerships with entrepreneurs to drive job creation and economic growth. Speaking at the Business Growth Conference for CEOs held in Abuja over the weekend, Akintayo emphasized the need for governors to create truly enabling environments for businesses to thrive. “Governors must settle down and focus on developing their states,” he said. “Enough of jumping around after the president. They should hold quarterly meetings with entrepreneurs to understand real business challenges and develop solutions together.” “Increased Funding, Yet…

Prof. Barth Nnaji, former Minister of Power and CEO of Geometric Power Group, has called for an urgent and strategic investment in Nigeria’s natural gas sector, alongside the reinstatement of suspended Power Purchase Agreements (PPAs)—moves he says are essential to achieving Nigeria’s ambition of becoming a $1 trillion economy. Speaking at the 2025 Bullion Lecture, themed “Architecting the Energy Sector for Nigeria’s $1 Trillion Economy Vision,” Nnaji emphasized that Nigeria’s economic future is directly tied to its energy policy and execution. “We have the ninth-largest gas reserves in the world, yet we struggle to power our 24 gas-fired plants. Meanwhile,…

In a significant boost to Nigeria’s digital economy, the Japan International Cooperation Agency (JICA) and the Federal Government of Nigeria have entered into a groundbreaking agreement, providing a $30 million grant to establish Start-Up Hubs in Abuja. This project marks Japan’s continued dedication to fostering economic cooperation and sustainable development across Africa. Project Overview The initiative is divided into two key components: Start-Up Hub Development: A $9.9 million investment that will see the creation of a cutting-edge facility managed by the National Information Technology Development Agency (NITDA). This hub will provide modern digital technologies and collaborative spaces designed to nurture…

In a landmark move to empower young entrepreneurs, the Nasarawa State Government has launched a N1 billion funding initiative aimed at supporting business start-ups and promoting self-reliance among the youth. Governor Abdullahi Sule made the announcement during the graduation ceremony for the first batch of 50 participants in Lafia, the state capital. A Collaborative Effort The funding initiative is a collaborative effort between the Nasarawa State Government and Interweave Solutions International. Both parties contributed N500 million each, bringing the total fund to a substantial N1 billion. Governor Sule highlighted that the initiative aligns with the goals of President Bola Tinubu’s…