Ayobami Oyaleke, Chief Executive Officer of Mainstack, has urged Nigerian startups to focus on revenue generation, customer retention and sustainable growth rather than the volume of funding they attract. Oyaleke said the health of Nigeria’s startup ecosystem should be measured by businesses’ ability to generate consistent income, manage financial risks and build lasting customer relationships, not simply by the amount of capital raised or the number of investment announcements. “We should ask whether companies can serve customers, earn revenue, manage risk, and grow beyond the next round,” he said. His comments come amid mixed trends in African technology funding. While…
Author: Elvis Eromosele
Seven-Up Bottling Company (SBC) has confirmed that the bright yellow caps appearing on bottles of some of its beverage brands are authentic, describing them as a temporary feature linked to an upcoming consumer initiative. The yellow caps have appeared on bottles of Pepsi, Mirinda, 7UP, Teem and Supa Komando in selected retail outlets, prompting questions among consumers about the reason for the packaging change. In a statement, the company said the change was part of an initiative that would introduce an exciting experience for consumers in selected regions, although it has yet to disclose further details. The development follows teaser…
Interswitch Group is expanding the payment infrastructure needed to support tokenised transactions in Nigeria, working with banks, financial institutions, card schemes and merchants to encourage wider adoption of contactless payments and digital wallets. The Nigerian payments technology company said the initiative would help participating institutions integrate payment tokenisation into their systems, improving the protection of card information during electronic transactions. The company is also supporting payment infrastructure development in other African markets, including Kenya and Uganda. Payment tokenisation replaces sensitive card details, such as a card number, with a substitute identifier known as a token. This allows eligible transactions to…
Guinness Nigeria Plc recorded a 55.34 per cent increase in pre-tax profit to N61.65 billion for the nine months ended September 2026, supported by stronger revenue and a sharp decline in finance costs. The company’s unaudited financial results, filed with the Nigerian Exchange (NGX) on Wednesday, October 21, 2026, showed that pre-tax profit rose from N39.69 billion in the corresponding period of 2025. Revenue increased by 20.37 per cent to N403.33 billion from N335.07 billion, while profit after tax climbed 53.05 per cent to N40.69 billion from N26.59 billion. The improved performance was partly driven by a 61.88 per cent…
…With the 2027 deadline approaching, the Bank of Industry must show how its promises of three million jobs and increased lending are translating into measurable results. The Bank of Industry (BOI) has set an ambitious target of creating and sustaining three million jobs and increasing annual lending to N1.85 trillion by 2027. But with its 2025–2027 corporate strategy already well underway, the critical question is how much progress the development finance institution has made towards delivering on its promises. Olasupo Olusi, BOI Managing Director, announced the targets on Thursday, October 22, 2026, during an engagement with media executives in Lagos.…
The Bank of Industry (BOI) plans to create and sustain three million jobs and increase annual lending to N1.85 trillion by 2027, as it expands financing for small businesses and productive sectors of the Nigerian economy. The bank also aims to provide funding to 24,000 micro, small and medium enterprises (MSMEs) under its 2025–2027 corporate strategy. Olasupo Olusi, BOI Managing Director, disclosed the targets on Thursday, October 22, 2026, during an engagement with media executives in Lagos. He said the strategy seeks to double the bank’s loan portfolio, disbursements and development impact, with priority given to manufacturing, agriculture, local healthcare,…
By Elvis Eromosele Some deaths are difficult to comprehend. This is not just because they come suddenly, but because the life they interrupt is one so full of promise, ideas and possibilities. The sudden passing of Dr Peter Ifeanyi Ogbebor at just 62, on Monday, October 19, 2026, my birthday, is one such loss. At an age when he still had so much to offer his family, the academic community and society, his departure is particularly painful. Peter was a remarkable man in many ways: intelligent, quick-witted, tenacious and deeply cerebral. He had a mind that was always questioning, probing,…
Nestlé Nigeria Plc has marked a major milestone in its Water Regeneration Project with the commissioning of eight climate-smart boreholes and water treatment plants in communities within the Agbara catchment in Ogun State. These facilities form part of a wider programme spanning the Agbara catchment in Ogun State and the Abaji catchment in the Federal Capital Territory. The Water Regeneration Project is structured around four connected pillars: Water Access, delivered through 24 climate-smart boreholes-eight in Agbara and 16 in Abaji; Water Quality, supported by treatment plants, routine monitoring, the National Water Quality Advocacy Campaign and practical water safety guidance; Water…
The Nigerian Communications Commission (NCC) has reaffirmed its commitment to protecting telecommunications consumers, declaring that operators will be held accountable for service failures and poor service quality as the Commission intensifies regulatory measures to improve customer experience across the country. Dr. Aminu Maida, Executive Vice Chairman of the NCC, made the commitment at the 95th Telecom Consumer Parliament in Lagos, with the theme “Enhancing Consumer Experience: Strengthening Service Quality and Consumer Protection in Nigeria’s Digital Economy.” He stressed that effective regulation must translate into tangible improvements in the daily experiences of consumers. According to Maida, the Commission remains focused on…
By Abdul Mahmud Omoyele Sowore’s response to Ajibola Basiru’s description of him as a “skit maker” and “comedian” on Channels Television’s Politics Today, anchored by Seun Okinbaloye, raises questions that reach beyond the personal exchanges of two men whose journeys intersected in the trenches of resistance to military dictatorship. Sowore’s recollection of his photograph with Basiru in 1998, when he led the Congress of Progressive Youths (COPY), is a reminder of a political past in which the struggle against tyranny demanded courage, solidarity and a willingness to confront the consequences of dissent. His account of how he received Basiru and…