chidi Nduka Aja

“We are very bullish about Africa. Yes, there are hard times, but hard times also bring opportunities.” This is according to Aliko Dangote, the entrepreneur behind Nigerian conglomerate Dangote Group who is believed to be one of Africa’s wealthiest men. Speaking at the Africa CEO Forum in Abidjan, Côte d’Ivoire, yesterday, he said his business has not stopped investing on the continent, despite the current economic headwinds many African economies are facing – such as slower growth, currency risks and lower commodity prices. In fact, Dangote explained his business is investing billions of US dollars in a number of projects, including within the commodities space. “I think this is the greatest time for somebody – for any company – to actually move in and invest, because things are down almost everywhere and I think we are seeing we are getting massive discounts in terms of our projects.”  He added that by investing now, business people would be well-positio...

Tokunbo means “From across the sea” in Yoruba, a language from the West African nation of Nigeria, and it is befitting of this single mother-turned-entrepreneur, Tokunbo Koiki. As if perfectly chosen for her at birth, it seems that it is her destiny to bring Nigerian food to British shores in a new and refreshing way. Born in Camden, London to Nigerian parents, Tokunbo lived in Lagos, Nigeria for the first nine years of her life – an experience which shaped her taste buds and love of Nigeria cuisine and culture. Tokunbo completed her university education in London and used her degrees to pursue her passions as a committed advocate for children and women’s rights, using her cross-cultural experience from working internationally across three continents. It was this passion for cross-cultural experiences and bringing people together that planted the seed of a dream in Tokunbo’s heart. After years of home-grown cooking for family and friends, Tokunbo decided to...

Lagos slums. Photo: Heinrich-Böll-Stiftung Approached at night, Lagos is a dull mass lit by the glow of countless cars. Locked in queues, their headlights slice apart the city like a knife. “You see that?” an air stewardess says looking out of the window as her flight comes in to land. “That’s traffic. Welcome to Lagos.” Lagos, which calls itself a “centre of excellence”, is a megacity with problems. The exact population is unknown; Nigeria’s headcounts have always been hijacked by politics. The state government claims the figure to be over 21 million. The UN estimated a 12.6 million population in 2014. Either way, Nigeria’s commercial capital is almost certainly the largest metropolis in Africa. Governing the eponymous state is no easy task. Loud, dirty, unashamedly urban – that’s Lagos. Potholed roads are packed with SUVs and battered buses. Tailbacks start well before dawn and last long into the night. Electricity supplies are appalling, crime rates are high, an...

  Nigeria, haunted by high unemployment and a sinking oil-dependent economy, is pushing to diversify its economy with a "made in Nigeria" manufacturing campaign. The BBC's Martin Patience went to the northern city of Kano to see what difference it will make. Cobwebs brushed against my face and dust covered my shoes as I was taken around the Gaskiya textile plant, a ghost factory since its closure in 2005. Kano used to be one of Africa's great commercial hubs. The former emirate was famed for its fabrics drawing merchants from across the Sahara. But in recent decades, the winds of global trade have blown through the city, leaving devastation in their wake. Gaskiya employed 5,000 people who churned out African prints and school and military uniforms until it shut. In the face of competition from China, large-scale smuggling and high production costs, dozens of factories were forced to close their doors and tens of thousands of workers lost their jobs....

Financial experts have identified inadequate financial records and a seeming lack of business structure among operators of micro, small and medium enterprises (MSMEs) in the country as some of the challenges impeding the growth of their businesses. Speaking at an SME seminar organized by Skye Bank Plc for MSMEs operators in the North Central zone in Ilorin on Thursday, the Group Head of the bank's Retail Banking, Nkolika Okoli, said the people had failed to access opportunities presented to them by government and finance houses due to lack of knowledge to develop their businesses.   Okoli, who disclosed that funds are now available through the Central Bank of Nigeria (CBN) intervention fund and the Bank of Industry, however, said that SMES were not coming forth to access the fund provided by these channels due to lack of records as most of them hold information in their memory "So, we are here to help them know how they can access these funds which come at singl...