Lagos, Ogun and Kaduna have emerged as Nigeria’s top-performing states in the 2025 Phillips Consulting State Performance Index (pSPI), a comprehensive assessment of governance, fiscal management, public service delivery and citizen satisfaction across the country. The report ranked Lagos first, Ogun second and Kaduna third among Nigeria’s 36 states and the Federal Capital Territory (FCT), reflecting their relative strengths in revenue generation, economic performance and governance outcomes. Developed by Phillips Consulting (pcl.), the index combines objective performance indicators with citizen perception data to provide a holistic evaluation of state performance. According to the report, 70 per cent of each state’s…
Author: Elvis Eromosele
Digital financial services provider OPay has surpassed 45 million users and now supports more than one million merchants and businesses across Nigeria, reinforcing its position as one of the country’s leading fintech platforms. The milestone highlights the rapid growth of digital payments and agency banking services as millions of Nigerians increasingly rely on technology-driven financial solutions for everyday transactions. Since launching operations in Nigeria in 2018, OPay has emerged as a major force in promoting financial inclusion and supporting the country’s transition toward a cashless economy. Its signature green Point-of-Sale (PoS) terminals have become a familiar sight in markets, transport…
Nigeria’s next-generation payments infrastructure, the National Payment Stack (NPS), has successfully processed 153,000 transactions during its pilot phase, signaling readiness for a broader rollout aimed at transforming the country’s digital payments ecosystem. The milestone was disclosed by Premier Oiwoh, Managing Director and Chief Executive Officer of Nigeria Inter-Bank Settlement System, during a panel session at the launch of the Nigeria Payments System Vision (PSV) 2028 in Abuja. Designed as the backbone of Nigeria’s digital payments architecture, the NPS will facilitate faster, more secure, and interoperable transactions across banks, fintech firms, mobile money operators, and other payment service providers. Speaking at…
Artificial intelligence company Anthropic has taken a major step toward becoming a publicly traded company after confidentially filing initial public offering (IPO) paperwork with the U.S. Securities and Exchange Commission (SEC), positioning itself ahead of rival OpenAI in the race to enter the public markets. The company announced on Monday that it had submitted a draft registration statement on Form S-1 to the SEC. However, key details, including the number of shares to be offered and the proposed price range, have not yet been disclosed. If completed, the IPO would make Anthropic the first leading generative AI company to list…
…Consumers to Vote for Brands and Government Institutions Delivering Real Value The public voting portal for the 2026 Consumers Value Awards (CVA) is now officially open, marking the beginning of the next phase of one of the country’s growing consumer-driven recognition platforms. Consumers can now participate in the voting process by visiting the Consumers Value Awards Voting Portal. The opening of the voting portal follows a highly engaging nomination phase which attracted over 210 nominations from consumers across multiple sectors of the Nigerian economy, including telecommunications, banking, healthcare, FMCG, transportation, hospitality, retail, technology, and public institutions. According to Akonte Ekine, Convener…
Award-winning marketing communications professional and Brandcom Awards’ Top 35 Under 35 honoree, Chinwendu Ohakpougwu, has been appointed Head, Marketing and Communications at Coronation Merchant Bank. In her new role, Ohakpougwu will lead the bank’s brand management, marketing strategy, corporate communications, media relations, and stakeholder engagement initiatives. She is expected to drive campaigns that enhance the bank’s visibility, strengthen its reputation, and support business growth. A seasoned communications strategist with extensive experience in the financial services sector, Ohakpougwu has built a reputation for developing high-impact marketing and communications campaigns that deliver measurable business results. Her expertise spans branding, corporate communications, digital marketing, stakeholder…
Africa faces a staggering annual financing gap of more than $30 billion in its quest to provide universal access to clean water and sanitation, raising concerns over the continent’s economic growth, public health, and climate resilience. New data from the United Nations, African Union, World Bank, and the United Nations Economic Commission for Africa indicate that Africa requires between $45 billion and $50 billion annually to meet the clean water and sanitation targets outlined in the Sustainable Development Goals (SDGs). However, current annual investments range between $10 billion and $19 billion, leaving a significant funding shortfall that continues to slow…
Africa’s youth employment challenge is becoming increasingly urgent, with more than 532 million young people navigating labour markets that are failing to create enough quality jobs. Despite relatively low official unemployment rates in many countries, millions of young Africans remain trapped in informal, low-paying and insecure work. According to the latest Africa Youth Employment Outlook 2026, released by the Mastercard Foundation in partnership with World Data Lab and the University of Cape Town Development Policy Research Unit, Africa’s population aged 15 to 35 has reached approximately 532 million, making it the world’s fastest-growing youth workforce. The report projects that an…
The United States is stepping up efforts to expand digital connectivity across West Africa, announcing plans to support the deployment of approximately 1,500 wireless communication base stations in Nigeria, Benin, Côte d’Ivoire and Ghana. The initiative, led by the U.S. Trade and Development Agency (USTDA), is aimed at connecting underserved and off-grid communities while promoting the adoption of U.S.-made telecommunications infrastructure in a region where Chinese-built wireless systems currently dominate. USTDA has approved funding for a feasibility study that will examine the large-scale deployment of turnkey mobile communication sites developed by Vanu Inc.. According to USTDA, the project is designed…
Unreliable electricity supply is costing Nigerian businesses an estimated three per cent of their annual sales, forcing many firms to spend heavily on generators and alternative power sources, according to the African Development Bank (AfDB). The finding is contained in the AfDB’s African Economic Outlook 2026 report, which highlights the significant economic burden imposed by Nigeria’s persistent power shortages. According to the report, the financial impact goes beyond lost production and sales. Businesses are increasingly forced to provide their own electricity and other essential services that would ordinarily be supplied through public infrastructure, driving up operating costs and reducing profitability.…