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By Ejire Folakunmi Lagos State has been ranked among the top 10 performing states in Nigeria’s ease of doing business index, alongside Kaduna, Oyo, the Federal Capital Territory (FCT), Ogun, Enugu, Plateau, Ekiti, Kano and Nasarawa. The ranking is contained in the 2025 Subnational Ease of Doing Business Report, which highlights significant improvements in states ...
As the Central Bank of Nigeria intensified its recapitalization mandate against a backdrop of record-high inflation and a volatile Naira, Zenith Bank PLC and Guaranty Trust Holding Company (GTCO) PLC took divergent paths to growth. While GTCO leaned into its reputation for surgical efficiency and digital leaness, Zenith Bank utilized its massive balance sheet to ...
The Central Bank of Nigeria (CBN) has announced a new regulatory framework for International Money Transfer Operators (IMTOs), mandating the use of designated Naira settlement accounts for all diaspora inflows. The directive, aimed at enhancing transparency and liquidity in the official foreign exchange market, is set to take full effect on May 1, 2026. According ...
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN has declared that individuals opposing the recent resolution of the OPL 245 dispute are prioritizing selfish interests over national patriotism. In a statement issued on Wednesday, the Attorney-General referenced a publication from the Atiku Abubakar Media Office describing the former Vice President’s comments as a ...
…warns of global energy volatility impacts Africa's richest man, Aliko Dangote has expressed strong optimism regarding the economic benefits of President Bola Ahmed Tinubu's recent state visit to the United Kingdom, predicting that the resulting bilateral agreements will open the floodgates for further international investments in Nigeria. Speaking to journalists after a courtesy visit to ...
Zenith Bank Plc has announced the appointment of Mr. Kennedy Onuwa Okwudili as an Executive Director of the bank effective May 1, 2026. The appointment, which is consistent with the bank’s tradition and succession strategy of grooming leaders from within, will further strengthen the bank’s Executive Management. Mr. Okwudili graduated with a Bachelor of Science ...
By Yunusa Oluwatomiwa In a letter penned to mark his birthday on March 22, 2026, the Founder of the Tony Elumelu Foundation, Tony Elumelu, has emphasized that Africa’s greatest resource lies in its people, noting that entrepreneurship remains a critical driver of the continent’s economic transformation. The reflections in his letter coincided with an event ...
Heirs Energies has announced a $10 million financial commitment to support 2,000 African entrepreneurs across two programme cycles, operating in direct partnership with the Tony Elumelu Foundation (TEF). This massive capital injection is driven by the energy company's foundational belief that sustainable energy development must be inextricably linked with sustained investments in human capital and ...
Human rights lawyer Femi Falana has heavily criticized the recently signed Migration Partnership Agreement between Nigeria and the United Kingdom, asserting that it cannot be legally enforced. The agreement, announced during President Bola Tinubu’s state visit to the UK last week, is designed to expedite the deportation of Nigerians lacking legal residency rights, including foreign ...
The first quarter of the year would soon come to an end, and your financial goals for this quarter are not looking very achievable.We're not here to judge; things are hard, and you’re quickly realizing that your meagre salary is not going to cut it.All the explanations your boss is giving you when you ask ...
Heirs Energies has revealed its plan to empower 1,000 additional entrepreneurs in 2026. Heirs Energies Chief Executive Officer, Osa Igiehon made this known at the 2026 Tony Elumelu Foundation Selection Announcement in Abuja. This is the company reaffirmed its commitment to fostering grassroots economic growth by announcing a massive new wave of support for young business owners. ...
Introduction The fast-moving consumer goods (FMCG) sector in Nigeria has navigated unprecedented headwinds over the past few years, characterized by severe foreign exchange volatility, aggressive inflationary pressures, and severely weakened consumer purchasing power. For a legacy manufacturer like Cadbury Nigeria Plc, the 2023 and 2024 financial years were particularly bruising. Caught in the crosshairs of ...
...says sector attracted over $2.6bn FDI in two yearsThe Minister of Solid Minerals Development, Dele Alake, has charged the US and African nations to prioritize the establishment of regional energy hubs as a strategic pathway to accelerate cross-border mining industrialization and strengthen the supply chain of critical minerals essential for the global energy transition. Speaking ...
As the escalating war involving the US, Israel, and Iran severely disrupts global petroleum supply chains, African nations are racing to secure alternative energy sources. At the forefront of this scramble, South Africa is actively pursuing a 12-month fuel supply contract with Aliko Dangote's mega-refinery in Lagos, Nigeria. They are not alone in this strategic ...
In a strategic move to bolster economic growth across the continent, United Bank for Africa (UBA) UK Limited and British International Investment (BII), the UK’s development finance institution, have announced a collaborative effort to expand access to trade finance in Africa. The two institutions have formalized their intent by signing a letter of intent to ...
By Denis Matthew The President of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, SAN, has felicitated the business community in the Federal Capital Territory on the occasion of Eid-el-Fitr. In a statement marking the successful completion of Ramadan, the ACCI leadership drew a parallel between the discipline required for spiritual renewal ...
...receives over 265,000 applications The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs will announce the 12th cohort of the flagship TEF Entrepreneurship Programme on Sunday, March 22, 2026. In 2026, the Foundation will empower a total of 3,200 entrepreneurs across all its entrepreneurship programmes.1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, ...
Several Nigerian billionaires have channeled their wealth into structured philanthropic foundations that support education, healthcare, economic empowerment and social development across Nigeria and the wider African continent. Aliko Dangote – Aliko Dangote Foundation Aliko Dangote, widely regarded as Africa’s richest individual, chairs the Aliko Dangote Foundation, one of the largest private foundations in sub-Saharan Africa. ...
You’ve probably heard about the sachet alcohol ban in Nigeria.But here’s the confusing part:It’s supposedly banned… yet you still see it everywhere.From roadside kiosks to neighborhood shops, sachet alcohol is still openly sold and bought.So the big question is: If it’s banned, why hasn’t it disappeared? Part of the concern behind the ban is youth ...
Nigeria doesn’t just rely on crude oil, we build, process, brew, refine, assemble, and dominate. From cement startups shaping skylines to food empires controlling your kitchen shelf, these companies move trillions of naira and dominates the economy. This list is based on market power, influence, visibility, and industry relevance. Dangote Cement PlcDangote is Africa’s largest ...
It is no news that there has been a rise in the use of fintech apps like Opay, Palmpay, Monie point, Kuda, and so on in Nigeria, as these companies report tens of millions of active users each. These fintech companies, which are companies that utilize technology to provide financial services, have grown in their ...
The Chief Executive Officer of the Tony Elumelu Foundation (TEF), Somachi Chris-Asoluka, has revealed that the Foundation’s interventions have successfully lifted over 2.5 million households across Africa out of poverty. Speaking on TVC Business Nigeria yesterday, Chris-Asoluka highighted that the Foundation’s successes serves as the bedrock of the Foundation’s Africapitalism philosophy, proving that targeted support ...
VFD Group shares have demonstrated significant market resilience following a 25 percent rally from a rights issue price of N10.00 to a close of N12.50. While subsequent profit-taking saw 5.7 million units traded between N11.25 and N12.50, the lower price point has opened a fresh window of opportunity for investors. The stock opened on a ...
