By Remi Ogunpitan For more than three decades I have had the privilege of building media and production businesses in Nigeria, watching some succeed beyond expectation, helping others recover from failure, and learning that sustainable enterprises are rarely created by funding alone. They are built through patient investment, sound governance, strong infrastructure and, above all, a clear understanding of how value is created over time. It is from that perspective that the growing conversation around Nigeria’s creative economy is viewed with both optimism and concern. Hardly a month passes without another announcement of a major intervention. Governments unveil ambitious initiatives.…
Author: Elvis Eromosele
Nigeria has called for greater unity among African nations to advance shared priorities and strengthen the continent’s influence in international decision-making, especially with Africa seeking a stronger voice in shaping the future of global telecommunications and digital innovation. The call was made at the Seventh Ordinary Session of the African Telecommunications Union (ATU) Conference of Plenipotentiaries in Abuja, where policymakers, regulators and industry leaders from across the continent gathered to chart a common course for Africa’s digital future ahead of key international telecommunications engagements. Speaking on behalf of the Vice President of the Federal Republic of Nigeria, Senator Kashim Shettima,…
As Nigerian small businesses grapple with high borrowing costs, limited access to credit and economic uncertainty, FirstBank Nigeria has advised entrepreneurs to focus on building healthy cash flow, saying it has become the most important factor in securing business loans. Idris Olalekan Garuba, the bank’s Business Manager, Retail Banking Group (RBG), Ejigbo Branch, said many business owners still believe collateral such as landed property is the key requirement for accessing credit. However, he explained that banks now place greater emphasis on a business’s cash flow and ability to repay loans. Speaking on the sidelines of the graduation ceremony for a…
The Asset Management Corporation of Nigeria (AMCON) recovered approximately ₦165 billion from delinquent debtors in the first half of 2026, marking a 64 percent increase over the ₦107 billion recovered during the same period in 2025. Gbenga Alade, AMCON’s Managing Director and Chief Executive Officer, disclosed this during an interactive session with senior media executives in Lagos over the weekend. He said the Corporation also maintained a cost-to-recovery ratio of 2.3 percent, underscoring the efficiency of its debt recovery operations. Beyond the improved recoveries, Alade announced that AMCON has commenced the process of divesting its controlling interest in telecommunications firm…
Former presidential candidate Peter Obi has called on President Bola Tinubu to resign, arguing that the president no longer has the capacity to tackle Nigeria’s deepening economic and security challenges. Speaking during an interview on Channels Television on Sunday, Obi said the country was “headed in the wrong direction” under the current administration and insisted that the 2027 general election should focus on issues affecting ordinary Nigerians rather than political distractions. The former Anambra State governor said President Tinubu should step aside, claiming the leadership qualities he displayed as Lagos State governor are no longer evident. “We are headed in…
China’s largest memory chipmaker, ChangXin Memory Technologies (CXMT) has become the most valuable listed company in mainland China after its shares surged more than 470 per cent on their debut on the Shanghai Stock Exchange’s technology-focused STAR Market. The dramatic rally pushed the company’s market valuation to about 3.3 trillion yuan ($487.3 billion), underscoring strong investor confidence in China’s semiconductor ambitions despite a recent global selloff in technology stocks. Founded in 2016 by Chairman Zhu Yiming and headquartered in Hefei, Anhui Province, CXMT produces dynamic random-access memory (DRAM) chips used in artificial intelligence (AI) data centres, smartphones, personal computers, tablets and other electronic devices. The company said proceeds from…
In an era defined by rapid economic shifts and boundless digital integration, the horizon for Nigeria’s small and growing businesses is extending far past local shores. To help home-grown entrepreneurs capitalise on this shifting landscape, the FATE Foundation is gearing up to host its flagship 11th FATE Business Conference this September in Lagos, creating a high-impact launchpad for business leaders ready to take their enterprises to the world. Under the ambitious theme “Beyond Borders: Transforming MSMEs for Global Competitiveness,” the gathering promises two full days of sharp strategic insights, bold conversations, and high-level networking. Designed specifically for ambitious founders, corporate…
NBA legend LeBron James has announced he will join the Philadelphia 76ers on what he says will be the final contract of his illustrious career. The 41-year-old, the NBA’s all-time leading scorer, confirmed the move after leaving the Los Angeles Lakers last month, ending an eight-year spell with the franchise. James had been linked with several teams, including the Cleveland Cavaliers, Golden State Warriors, Minnesota Timberwolves, and Miami Heat, before opting for Philadelphia. “I believe I can help make the Philadelphia 76ers a championship team and I am so excited to energise a new fanbase and start this incredible journey one last time,” James wrote on X. The move marks…
Nestlé Nigeria has recognised 16 distributor partners whose sustained business performance has helped ensure the continued availability of Nestlé products to consumers across the country. The recognition celebrates the long-term partnerships that continue to create shared value by strengthening businesses, expanding market reach and connecting millions of Nigerian consumers with trusted brands every day. The Distributor Recognition honours partners who demonstrated outstanding national sell-out contribution and achieved consecutive volume growth in both 2024 and 2025. Against a backdrop of inflationary pressures, foreign exchange volatility and evolving consumer purchasing patterns, the recognition celebrates the resilience, agility and collaboration that enabled these…
Credit extended to Nigeria’s private sector increased by N2.22 trillion in June 2026, reflecting sustained lending to businesses despite the Central Bank of Nigeria’s (CBN) tight monetary policy. Latest CBN economic data shows that private sector credit rose from N81.04 trillion in May to N83.26 trillion as of June 30, representing a 2.74 per cent month-on-month increase. On a year-on-year basis, lending to the private sector grew by N7.13 trillion, or about 9 per cent, from N76.13 trillion recorded in June 2025. The increase comes as the CBN continues to balance efforts to curb inflation while supporting economic growth and…