Author: Gift Ifeanyi

LAGOS, Nigeria – At just 27, Chibunna Ogbonna, founder of Kiru Energy, is revolutionizing Nigeria’s renewable energy sector—one solar panel at a time. His cleantech startup, which began as a solo venture in 2017, now powers homes and businesses across Nigeria with minigrids, rooftop solar, and battery inverters, while creating jobs for young Africans. From ₦1,850 to ₦15M: The Kiru Energy Journey  2017: Launched with $5 for a logo and a dream. 2018: Secured first grant ($250), incorporated the company. 2020: Won $10,000 in CleanTech Hub’s accelerator, scaled operations. 2024: Hit ₦15M revenue, installed 250+ kW of solar, served 30+ clients. Chibunna’s Inspiration: “Bill Gates started Microsoft at 19. I knew age…

ABUJA – In a major push to foster youth entrepreneurship, the Federal Government has unveiled a N50 million Student Grant Venture Capital Initiative to support scalable student-led businesses across Nigerian universities. Education Minister Dr. Tunji Alausa announced the scheme on Wednesday during the inauguration of the Research and Innovation Commercialisation Committee (RICC), emphasizing its role in bridging the gap between academia and industry. Key Details of the Initiative  Target Beneficiaries: 300-level+ undergraduates with market-ready innovations. Startups with proven business models seeking expansion capital.  Focus Areas: Converting student research into commercial products/services. Boosting globally competitive enterprises from Nigerian campuses.  Partnerships: TETFund (Anchor) Bank of India (Funding/Technical Support) Why This Matters  Economic Shift: Aligns with Tinubu’s…

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a pivotal achievement in the construction of the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline, confirming the successful crossing of the River Niger—one of the project’s most challenging phases. The milestone was disclosed on NNPC’s official X (formerly Twitter) account and further elaborated by Group Chief Executive Officer (GCEO) Bayo Ojulari during his keynote speech at the Nigeria Oil and Gas Energy Week Conference in Abuja. A Transformational Energy Project The 614-kilometer, 40-inch pipeline—stretching from Ajaokuta in Kogi State to Kano—is one of Nigeria’s most critical energy infrastructure developments. Once completed, it is expected to: Enhance domestic gas supply Boost power…

Across Africa, beauty brands are turning masterclasses into a powerful tool for engagement, education, and sales. These events—blending hands-on learning with entertainment—are helping global and local brands connect with consumers in a market hungry for immersive beauty experiences. A New Era of Beauty Engagement In June, Maybelline (owned by L’Oréal) hosted Glamland, its first-ever beauty convention in Lagos, Nigeria. The event drew 500+ makeup artists, influencers, and enthusiasts for masterclasses led by Nigerian artist Bimpe Onakoya and British-Jamaican TikTok star Mikai McDermott. Alongside tutorials, the event featured panel discussions, interactive booths, and live music—creating a festival-like atmosphere. Other brands are following suit: Kylie Cosmetics held a masterclass at Arc Store in South Africa. Fenty Beauty hosted…

KANO – In a landmark achievement for youth empowerment, 95 young Nigerians have graduated from the Digital Entrepreneurship for Nigerian Youth Programme, a transformative initiative blending agriculture with digital innovation. The ceremony, held in Kano on Saturday, was hailed as a turning point for economic and technological advancement in the region. A New Generation of Agri-Tech Leaders Presided over by Alhaji Abdussalam Abdulkareem Zaura, President of the AA Zaura Foundation International, the graduation marked the culmination of an intensive training program developed in partnership with the University of Sunderland and London Academy Business School. “This is not just about certificates—it’s about equipping our youth to become job creators,…

PORT HARCOURT – In an innovative approach to tackling pipeline vandalism, the Africa’s Hub for Skills and Enterprise Development (AHSED) has launched a youth empowerment program aimed at providing digital skills and entrepreneurship training as alternatives to illegal oil bunkering in the Niger Delta. The “Secure the Pipeline, Secure the Future” (SSE) project, announced by AHSED founders Wisdom Aghoghovwia and Barry Chukwuemeke Wonder, seeks to engage at-risk youth in oil-producing communities, offering them economic opportunities that deter involvement in pipeline sabotage. From Vandalism to Valuable Skills The initiative kicked off in Ogbijo, Delta State, where AHSED conducted community sensitization campaigns, educating nearly 1,000 youths and residents on the environmental and economic dangers of pipeline vandalization. Digital skills training (coding,…

As Nigeria’s economy transforms, driven by technology, sustainability, and innovation, professionals and entrepreneurs must adapt to stay ahead. Here are seven high-demand skill areas that will shape careers and businesses over the next decade: 1. Data Science & Artificial Intelligence Why it matters: Businesses in finance, healthcare, and logistics rely on data-driven decisions. Key skills: ✔ Python programming ✔ Machine learning & predictive analytics ✔ Data visualization (Power BI, Tableau) Opportunities: AI solutions, fraud detection, supply chain optimization. 2. Renewable Energy Technologies Why it matters: Nigeria’s energy transition demands solar, wind, and battery storage expertise. Key skills: ✔ Solar panel installation & maintenance ✔ Microgrid design ✔ Energy efficiency consulting Opportunities: Rural electrification, green startups, government projects.…

LAGOS, Nigeria – In a landmark move for Nigeria’s digital economy, MTN Nigeria has launched the Dabengwa Data Centre, a $150 million state-of-the-art facility in Lagos, with plans to invest an additional $135 million in expansion. Named after Sifiso Dabengwa, former MTN Group CEO, the centre is positioned as West Africa’s largest modular data hub, designed to accelerate Nigeria’s cloud independence and data security. A New Era for Nigeria’s Digital Infrastructure The 14MW-capacity facility is built to Tier III standards, featuring: ✔ 1,500+ server racks ✔ AI-driven cooling & security systems ✔ High-density workload support (up to 20kW per rack) ✔ Full compliance with Nigeria’s Data Protection Act (NDPA) Complementing the infrastructure is MTN Cloud, a locally-hosted Infrastructure-as-a-Service (IaaS)…

ABUJA – The Central Bank of Nigeria (CBN) has called on telecom operators to invest in local manufacturing of critical equipment like SIM cards, cables, and towers, as part of efforts to reduce dollar dependency, create jobs, and stabilize the economy. CBN Governor Olayemi Cardoso made the appeal during a meeting with Airtel Africa’s leadership, led by Group CEO Sunil Taldar, in Abuja. He emphasized that backward integration—producing key inputs locally—will help conserve foreign exchange and strengthen Nigeria’s industrial base. Why Local Production Matters ✔ Reduces FX pressure – Cuts import costs, easing naira volatility. ✔ Creates jobs – Boosts employment in tech and manufacturing. ✔ Enhances security – Limits reliance on foreign supply chains. Cardoso assured telecom…

LAGOS – Nigerian corporations are increasingly turning to Commercial Papers (CPs) for short-term financing, with issuances skyrocketing from ₦3 billion to ₦193 billion across diverse sectors. This shift comes as businesses seek relief from sky-high bank loan rates exceeding 30%, driven by the Central Bank’s 27.5% Monetary Policy Rate (MPR). Who’s Issuing – And at What Yields? Leading the pack is Access Bank, which raised ₦193.25 billion across two series at 21.5%–24.75% yields. Other notable issuers include: MeCure Industries (Healthcare) – ₦10B at 26% Daraju Industries (Manufacturing) – ₦4B at 25% Finceptive Ltd. (Fintech) – ₦3B oversubscribed FCMB – ₦70B dual-series offer According to FMDQ Securities Exchange, total CP programs now exceed ₦8.19 trillion, with ₦7.23 trillion already quoted. Why Companies Are Ditching Bank Loans…

LAGOS – Nigeria’s public debt surged to ₦149.39 trillion ($97.24 billion) in Q1 2025, marking a 22.8% increase (₦27.72 trillion) from 2024, according to the Debt Management Office (DMO). Despite the staggering borrowing, economists warn of minimal infrastructure improvement and an unsustainable fiscal trajectory where debt servicing (₦25.12 trillion from 2022–2024) has exceeded government revenue (₦20.6 trillion) by ₦4.5 trillion. Key Debt Breakdown  External Debt: ₦70.63 trillion ($45.98B) – Up 26.1% YoY Domestic Debt: ₦78.76 trillion ($51.26B) – Up 20% YoY Federal Government: ₦74.89 trillion States & FCT: ₦3.87 trillion Alarming Metrics: Debt-to-GDP: 54% (2024), projected to rise in 2025 Debt-to-Revenue: 121% (2022–2024) Experts Sound the Alarm 1. Mazi Okechukwu Unegbu (Ex-CIBN President): “We’ve borrowed trillions, yet roads, power, and the economy remain broken.…

LAGOS – With the 4th Intra-African Trade Fair (IATF2025) set for September 4–10 in Algiers, Nigeria is rallying its SMEs and creative entrepreneurs to tap into Africa’s $3.4 trillion single market under the African Continental Free Trade Area (AfCFTA). Why Nigerian Businesses Must Act Now  Access to Buyers & Investors: Direct deals with continental partners. Policy Influence: Shape AfCFTA implementation through high-level talks. Non-Oil Export Growth: Key focus on fashion, tech, film, and professional services. Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, stated: “IATF is Nigeria’s gateway to African markets. We’re launching a national IP policy to empower innovators and ensure they reap the benefits of AfCFTA.” Nigeria’s…

Nigeria has produced some of Africa’s most flamboyant billionaires—oil tycoons, media moguls, and larger-than-life entrepreneurs. But as history shows, even the mightiest fortunes can crumble overnight. Here are two cautionary tales of Nigerian tycoons who soared to unimaginable wealth, only to lose it all in dramatic fashion. 1. Goddy Anabor – The High-Flying Media Mogul Who Crashed Peak Wealth: ₦3 billion+ (1990s–2000s) Downfall: Extravagance, mismanagement, addiction At his peak, Goddy Anabor was the king of Lagos high society—a flamboyant publisher known for his fleet of 50+ luxury cars (including Bentleys and Rolls-Royces) and ₦86 million spending spree at Sheraton Hotel in just 15 months. How He Made His Money…

ABUJA, Nigeria – In a major leap for Nigeria’s business climate, the Corporate Affairs Commission (CAC) has unveiled an AI-driven registration portal that slashes incorporation time from days to just 30 minutes. The move aims to tackle longstanding bureaucratic hurdles that have discouraged SMEs—which make up 96% of Nigeria’s 40 million MSMEs—from formalizing their operations. How the AI Portal Works  Instant Name Reservation – AI checks name availability in real time. Automated Document Verification – Scans submissions for errors/compliance. Seamless Data Validation – Cross-references with government databases. Digital Certificates – Issues incorporation docs electronically. Why It Matters: ✔ Startups/SMEs gain faster access to bank accounts, loans, and grants. ✔ Investor confidence rises with more formalized businesses.…

LAGOS – Nigeria’s private sector expansion weakened in June 2025, with business activity growing at its slowest pace in seven months, according to the latest Stanbic IBTC Purchasing Managers’ Index (PMI). The headline PMI fell to 51.6 (from 52.7 in May), signaling a fragile economic recovery despite easing inflation. Key Findings  Slower Growth – PMI dipped but stayed above 50.0 (expansion threshold). Weak Demand – New orders rose at the slowest rate in five months. Manufacturing Decline – Sector contracted, while agriculture & services saw modest gains. Cautious Business Sentiment – Firms hesitant to hike prices despite high costs. Inflation Eases, But Challenges Persist  Headline Inflation: Dropped to 22.97% in May (from 23.71% in April). Monthly Inflation: Fell to 1.53% (from 1.86%).…

Lagos, Nigeria – At the landmark “Nigeria: NOW” conference hosted by the U.S. Soybean Export Council (USSEC), stakeholders unveiled a strategic plan to address Nigeria’s protein gap through expanded trade, technology transfer, and sustainable farming practices. With Nigeria’s protein consumption 25% below FAO recommendations, the initiative aims to boost nutrition and economic growth through soybean innovation. Key Takeaways from the Conference  Protein Crisis: Nigerians consume just 45.4g protein/day (vs. 60g FAO minimum) Trade Revival: Nigeria imported 62,100MT of U.S. soybeans in 2024 after 6-year hiatus Poultry Focus: Soy-based feed to strengthen Nigeria’s $4.6B poultry industry Notable Participants: • Former President Olusegun Obasanjo • Oyo State Governor Seyi Makinde • Lagos Agriculture Commissioner Abisola Olusanya Why Soybeans Matter  Local…

Lagos, Nigeria – A transformative Venture Grants Bootcamp hosted by Bankable Wisdom, in partnership with Western Union Foundation and American Corner Lekki, has empowered 55 early-stage founders with critical funding access skills—with three participants already securing $5,000 Tony Elumelu grants within weeks. Bootcamp Highlights  Focus: Grant writing, compliance, and business planning for impact-driven ventures Priority Cohort: 50%+ founders serving refugees and IDPs Expert Trainers: Precious Azuonwu (Bankable Wisdom/Western Union Fellow) Fidelis Amaonyeze (Tony Elumelu Foundation alumnus) Proven Impact  3 immediate grant wins ($15,000 total) 220+ applications for 55 slots (showing high demand) Scaling plans: More bootcamps targeting grassroots entrepreneurs Founder’s Vision: “This isn’t charity—it’s about democratizing funding access. Our alumni are proving that knowledge unlocks capital.” —…

Abatete, Nigeria / Kassel, Germany – Chijioke Okonkwo’s journey from a Nollywood props manager to a transnational entrepreneur leading four thriving companies across Nigeria and Germany proves that reinvention and resilience can build empires. The Making of a Multinational Entrepreneur  2010-2018: Nollywood set designer → DJ “Zaga” Earned International Business degree in Ukraine (relocated during 2022 war)  Current Ventures: Goltava Group: Nigeria’s premier door manufacturing company Cargoburg Logistics: Customs clearance & marine operations Goltava Foods: Agro-processing for nutritious staples Kassel Energies: Sustainable energy solutions Secrets to Cross-Continental Success  Tech-Driven: AI tools automate operations across time zones Team Philosophy: “Invest in people; you can’t do it alone” Life…

Lagos, Nigeria – As Nigeria accelerates its shift to cleaner energy, industry leaders will converge at the 2025 Oriental News Nigeria Conference on July 24 to strategize on leveraging the country’s 206TCF gas reserves to power its energy transition. With keynote insights from NLNG and chaired by ex-Power Minister Bart Nnaji, the event aims to bridge policy gaps holding back Nigeria’s gas revolution. Conference Hot Topics  Main Theme: “Integrating Nigeria’s Gas Potentials Into Strategic Energy Transition Initiatives”  Critical Sub-Themes: CNG Adoption: Scaling compressed natural gas for transport (90% of Nigeria’s freight moves by road) Power Sector Fix: Gas-to-power solutions for 90M Nigerians lacking electricity Investor Hurdles: Tackling infrastructure gaps and pricing…

Lagos, Nigeria – At the BusinessDay Sustainable Building Conference, industry leaders sounded the alarm on Nigeria’s unsustainable construction practices, responsible for 40% of global carbon emissions, and proposed urgent solutions to transform the sector. Key Challenges Highlighted  Skill Gaps: Artisans lack training in eco-friendly techniques (e.g., laterite blocks, solar installation) Cost Myths: Perception that green buildings are prohibitively expensive despite long-term savings Policy Void: No national Green Building Code, unlike Ghana/South Africa Proposed Solutions  Artisan Upskilling: Government/industry-funded workshops for contractors and builders Local Materials: Promote laterite, bamboo, and recycled concrete to cut emissions Regulatory Push: Draft a Nigerian Green Building Code with REDAN and NESREA Solar Parallel: Replicate solar energy’s cost-success story in…