Author: Gift Ifeanyi

In a strategic push to reduce its heavy dependence on imported dairy products, Nigeria has begun importing high-yielding dairy cows from Denmark. The move is part of a broader national effort to double domestic milk production within five years and save the country an estimated $1.5 billion annually spent on milk imports. Speaking on Monday, Minister of Livestock Development, Idi Maiha, outlined the government’s vision to significantly close the gap between local production and consumption. “We are setting a bold but realistic target — to raise annual milk production from the current 700,000 tonnes to 1.4 million tonnes over the…

Aliko Dangote, President of the Dangote Group, has revealed that Nigerians are currently paying only 55% of what citizens in other West African countries pay for petrol—thanks in part to output from his massive refinery. During a strategic visit by Dr. Omar Touray, President of the ECOWAS Commission, to the 650,000 barrels-per-day Dangote Refinery, the billionaire industrialist highlighted the economic benefits of local refining. A press release issued on Sunday detailed the event and Dangote’s key remarks. According to Dangote, petrol at the refinery is being sold for between ₦815 and ₦820 per litre, while neighboring countries pay an equivalent…

Northern Nigeria Flour Mills Plc has closed its financial year ending March 31, 2025, on a high note — recording a pre-tax profit of ₦2.8 billion, up by over 25% from the prior year. The company’s financial growth was anchored by a significant boost in revenue, which reached ₦35.3 billion, an increase of over ₦9 billion compared to the ₦25.9 billion posted last year. A breakdown of the sales shows that wheat-based goods led the charge, contributing approximately ₦19.8 billion. This was followed by ₦10.2 billion from maize-related products, while sorghum accounted for ₦3.03 billion. The remaining earnings came from…

Despite signs of improved business activity, Nigeria’s private sector growth slowed to its lowest level in four months, according to the latest Purchasing Managers’ Index (PMI) released by S&P Global on behalf of Stanbic IBTC. The report showed that while the private sector remained in expansion territory in May, inflationary pressures continued to weigh on the pace of growth. Both output and new orders expanded at their slowest rates since January, and employment contracted for the first time in six months. The headline PMI stood at 52.7 in May — still above the 50.0 mark that signals no change —…

Princess Atika Ajanah, Senior Special Assistant to President Bola Tinubu, has reiterated the federal government’s strong commitment to empowering youth and women entrepreneurs, spotlighting the crucial role they play in Nigeria’s economic growth. Her remarks came during the exclusive unveiling of Pink Fleur’s latest line, the “Noor Collection,” an event that not only showcased stunning fashion inspired by the dawn’s first light but also highlighted the rising influence of women-led businesses in Nigeria’s vibrant fashion scene. Princess Ajanah praised Pink Fleur’s founder, Zainab Salihijo, for transforming what started as a small venture into a brand that is rapidly outgrowing the…

Despite the launch of the Nigerian Startup Act and initiatives like the Startup Investment Seed Fund, Nigeria’s standing in the global startup ecosystem has dipped, dropping two places to 66th worldwide. This decline raises pressing questions about the effectiveness and speed of implementing these reforms. According to the latest StartupBlink index, which measures startup activity, ecosystem impact, and support infrastructure, Nigeria also fell to fourth place in Africa—its lowest regional rank in years. Among the top seven African countries, Nigeria recorded the slowest growth rate at under 6%. Analysts view this performance as a critical benchmark for the country’s recent…

The Rental Professionals Society of Nigeria (RPSN) is set to host a pivotal conference centered on the future of the event rental sector in Nigeria, according to its President and MD of Jason Davids Event Limited, Mrs. Taiwo Oderinlo. Mrs. Oderinlo encouraged stakeholders across the event industry to take part in the upcoming gathering, which promises valuable insights and networking opportunities. A highlight leading up to the conference is a roadshow scheduled for Tuesday, June 3, 2025. During the event, RPSN will collaborate with LASTMA by donating raincoats in recognition of the agency’s commitment to public service. RPSN’s Public Relations…

Golden Penny Foods, a leading brand under Flour Mills of Nigeria (FMN), hosted its 2025 B2C Dealers Conference on May 21 at the Balmoral Convention Centre, Sheraton, Ikeja. The event, themed “Power of 10X Unleashed,” focused on strengthening dealer relationships and accelerating exponential business growth through innovation, leadership, and collaboration. The conference brought together FMN executives, including Devlin Hainsworth (Managing Director), Lara Yeku (Head of HR, Food Division), and Ilyas Kazeem (Marketing Director), alongside top-performing dealers across the country. Addressing attendees, Hainsworth emphasized the company’s mission to “Feed and Enrich Lives, Every Day,” noting that the conference serves not only…

Nigerian manufacturers and small business owners are sounding the alarm over crippling operational challenges that threaten their survival. From rising production costs and erratic power supply to weak consumer demand and policy instability, many say their businesses are barely holding on. At the 2025 BusinessDay Manufacturing Conference in Lagos, the Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, painted a bleak picture of the sector. He revealed that local manufacturers are operating far below capacity due to skyrocketing overheads, security issues, limited credit access, and excessive taxes. According to him, if these issues are not urgently addressed,…

The Nigeria Employers’ Consultative Association (NECA) is gearing up to host the 4th edition of the Nigeria Employers’ Summit, scheduled for Wednesday, June 25 to Thursday, June 26, 2025, at the Abuja Continental Hotel in Abuja. Themed “Enabling Sustainable Enterprise in a Transitioning Economy: Aligning Fiscal, Trade, and Regulatory Reforms for Rapid National Development,” the two-day event will address pivotal issues affecting the nation’s economic trajectory, including taxation, sustainability, trade, investment, and regulatory frameworks. His Excellency, Vice President Kashim Shettima, is expected to grace the occasion as the Special Guest of Honour, alongside a lineup of influential leaders from both…

As the August 28 National Convention of the Peoples Democratic Party (PDP) draws closer, the Conference of PDP Professionals has called on party leaders to ensure that the exercise is conducted with integrity, transparency, and a focus on merit. In a statement released on Sunday and signed by the group’s National Coordinator, Obinna Nwachukwu, the conference emphasized the importance of electing a capable and visionary team of national officers to steer the party forward. The highly anticipated convention, slated to take place in Kano, will mark a critical juncture for the PDP as it prepares to resolve internal leadership challenges…

From the energetic heart of Lagos to the iconic skylines of London and Dubai, Olushola Medupin—co-founder of the acclaimed Enish Restaurants—is reshaping how the world experiences African culture. More than a restaurateur, he is a visionary entrepreneur blending heritage, elegance, and global strategy to redefine Afrocentric luxury on an international scale. With academic roots in Economics and a Master’s in Investment Banking from the University of East London, Medupin’s journey is one of both cultural pride and calculated ambition. Merging Culture with Commerce For Medupin, the restaurant business isn’t just about taste—it’s about strategy. His background in finance sharpened his…

Despite a turbulent economy, Nigerian business leaders are being encouraged to shift their focus inward and explore the rich opportunities that lie within the country’s borders. This call for homegrown resilience was a key takeaway from the 2025 Manufacturing Conference held in Lagos, where top industrial players discussed strategies to revitalize Nigeria’s manufacturing sector. Speaking at the event, themed “Unlocking Nigeria’s Manufacturing Potential: Strategies for Sustainable Growth Amid Economic Turbulence”, George Onafowokan, Managing Director of Coleman Wires and Cables Industries Ltd., challenged local entrepreneurs to adopt a long-term, opportunity-focused mindset. Foreign Investors Betting on Nigeria While Locals Hold Back Onafowokan,…

Under the fiscal leadership of President Bola Tinubu, Nigeria is undergoing a bold transformation in public finance management—ushering in record revenue generation, groundbreaking tax reforms, and a tech-driven shift in government accountability. At the heart of this progress is the Federal Ministry of Finance, which has emerged as a pivotal force behind Tinubu’s Renewed Hope Agenda, orchestrating systemic changes that are redefining Nigeria’s financial future. Revenue Milestones Redefine Nigeria’s Economic Outlook A new mid-year performance report, published by the Office of the Special Adviser to the President on Policy & Coordination, highlights a surge in national earnings unmatched in Nigeria’s…

The Nigerian government has voiced strong condemnation following revelations that a supposed educational opportunity in Russia was, in reality, a covert pathway to forced labor in military drone manufacturing. Exploitation Behind a False Promise Billed as a vocational scholarship, the initiative lured several young Nigerians — including minors — with the promise of technical training and financial support at Russia’s Alabuga Special Economic Zone. Official documents framed the program as a structured industrial learning experience, leading families to believe their children were embarking on a legitimate academic journey. However, once in Russia, the participants reportedly found themselves deployed on assembly…

In a groundbreaking move to celebrate the synergy between innovation and marketing technology, the Eko Innovation Centre (EIC), in collaboration with GDM Group and Brand Communicator, successfully hosted the fourth edition of MarkHack—Africa’s leading hackathon focused on marketing communications and emerging technologies. This year’s edition culminated in a dynamic showcase of innovation, with two major highlights: the grand finale of MarkHack 4.0 and the formal introduction of the Nigeria Marketing Technology Excellence Awards, a new initiative recognizing game-changing contributions to the nation’s MarTech ecosystem. Empowering Startups, Recognizing Visionaries Victor Gbenga Afolabi, founder and convener of MarkHack, expressed deep pride in…

Adedeji Sunmola has been distinguished with one of the nation’s highest honors in the innovation sector, receiving the Tech Leadership Award for Transformative Enterprise at the National Entrepreneurship Honors (NEH), held at the Lagos Civic Centre’s Grand Pavilion. The prestigious ceremony drew an influential audience of entrepreneurs, investors, government stakeholders, and tech ecosystem pioneers to celebrate Sunmola’s groundbreaking contributions to technology-driven business in Nigeria and beyond. The award was formally presented by Dr. Nkechi Amadi, head of the National Entrepreneurship Research Institute, who praised Sunmola as a catalyst for impactful innovation. “What Mr. Sunmola has achieved is more than business…

ALDG, (The Association of Local Distributors of Gas), the leading body representing stakeholders across Nigeria’s natural gas distribution value chain, is set to host its highly anticipated inaugural 2025 Business Forum. This landmark event aims to unite top policymakers, industry leaders, and key stakeholders to chart the future of Nigeria’s gas distribution sector and build a sustainable domestic gas market. Scheduled for Tuesday, June 3, 2025, at the Petroleum Technology Development Fund (PTDF) Building in Abuja, the Forum will revolve around the theme:“Strengthening Nigeria’s Gas Distribution Value Chain: Challenges, Innovations, and the Path Forward.” The Forum boasts sponsorship from prominent…

The Nigerian Presidency has spotlighted the nation’s massive gas reserves—209 trillion cubic feet of proven natural gas—as a vital driver in its strategy for energy transition, industrialization, and economic diversification. Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, shared these insights in an interview with the News Agency of Nigeria (NAN) in Abuja, as the administration marks its second year in office. According to Verheijen, the Tinubu-led government is leveraging Nigeria’s abundant gas resources not only to reduce dependence on oil but to drive job creation, clean energy adoption, and investor confidence. This, she noted, builds on…

The Economic Community of West African States (ECOWAS) has urged the region to end its dependence on petrol imports, spotlighting Nigeria’s Dangote Petroleum Refinery as a shining example of African industrial capability and self-reliance. During a high-profile visit to the refinery, which boasts a massive capacity of 650,000 barrels per day, ECOWAS Commission President, H.E. Dr. Omar Alieu Touray, praised the facility as a symbol of private sector-led transformation and a model for the continent’s industrial future. “What I have seen today gives me a lot of hope,” Touray remarked. “Everyone who doubts Africa’s potential should come here. This is…