Nigeria just saw food prices tank harder than they have in over a year with beans, garri, maize and tomatoes all dropping by double digits. Brown beans got slammed the worst with a 33 percent drop year over year while white garri fell about 25 percent and maize dropped around 16 percent, according to the National Bureau of Statistics.
The government apparently pushed through some logistics fixes that helped move food around the country better after President Tinubu told ministers to clear supply routes. Enugu and Ebonyi still have the most expensive stuff while places like Yobe and Taraba stayed cheap because they sit closer to farming areas.
Beef prices jumped over 21 percent, though and rice crept up a bit, which shows the whole...
Maritime experts are saying Nigeria could generate over 22 trillion naira by actually fixing its blue economy through public-private partnerships instead of just talking about problems. Research head Eugene Nweke from the Sea Empowerment and Research Centre told a conference in Lagos that the country barely contributes 15 percent to regional maritime trade despite having massive coastal potential.
Nweke laid out ways to get there like automating ports to handle 70 million metric tons of cargo annually, which would save around 3 trillion naira in trade costs. Boosting aquaculture and cold storage could cut the billion dollars spent importing fish each year and create half a million jobs. Offshore gas reserves and seabed minerals could...
Radio Lagos threw together a career development thing for young people trying to figure out their professional lives in Nigeria's rough job market. The session called From Interns to Industry Leaders brought current interns and youth corps members together to work on skills and network with people who might actually help them get somewhere.
General manager Olajide Isiaka Lawal told the crowd at the Oconnect Symposium that how bright they want their future to be is completely on them. He pushed students to take school seriously and start thinking about who they want to become down the line, saying the station will keep building opportunities for local youth to gain real experience.
Bisi Omidire from EKO FM said the program gives...
Lagos just wrapped up the eighth Beauty West Africa expo and it pulled over 350 exhibitors from 55 countries trying to crack into Nigeria's massive cosmetics market. The African continent's biggest beauty trade show brought 6,000 professionals and 4,000 visitors from 47 countries to check out products and hunt for distributors and franchise deals.
Nigeria is basically the top dog for beauty spending in Africa with the market sitting around 7.8 billion dollars and expected to grow at nearly 18 percent yearly through 2027. The country imported more than 1.1 billion in cosmetics and toiletries last year alone. Sales director Brad Smith from the organizing crew said the event keeps getting bigger despite Nigeria's shaky economy, with...
Some agriculture student at Bayero University in Kano just walked away with a car that apparently cost MTN Nigeria around 35 million naira. Ramatu Yakubu became the sixth person to win one of these things during the telecom company's campus tour that has been rolling through universities, handing out laptops, tablets and straight cash to students.
MTN's youth segment guy Femi Adesina talked about how they are not holding back on spending to help build up young Nigerians. The company also pushed cheap data packages aimed at broke students who need to grind late at night, with some plans starting at 75 naira for overnight usage.
The whole thing wrapped up after three days of performances, gaming tournaments and business showcases. Five...
Bitget Wallet just rolled out a feature that lets people in Nigeria and Mexico turn their USDT and USDC straight into local cash and shoot it to their bank accounts. The wallet app basically works like a regular banking thing where you pick your crypto, punch in the amount and account details, then send it through. They got over 45 banks linked up in Nigeria and more than 35 in Mexico, with the whole conversion happening in minutes through licensed partners that handle the fiat side.
The move matters because both countries push massive volume through crypto already. Nigeria does like $90 billion a year in transactions and Mexico clocks over $70 billion. Before this, people had to mess around with sketchy peer-to-peer platforms that...
Some guy named Andrew Enofe, who runs Golden Gate Investment, is basically telling Nigerian investors to park their cash in Canadian real estate instead of watching it melt from Nigeria's wild inflation situation. He says Canada's sitting at like 2 percent inflation while Nigeria is getting hammered at 18 percent, which makes it way easier to actually see returns.
Enofe claims they're working with Nigerian financial regulators to make sure nobody's using their platform to move dirty money around. His pitch is that people can grow their money in Canada's stable market and still pull it back to Nigeria whenever they need it, so it's more about protecting value than losing it to another country.
Golden Gate is offering mortgage funds...
Sovereign Trust Insurance threw a thing for their guys on International Men's Day and the boss went hard with the praise. CEO Olaotan Soyinka said the dudes at the company have basically kept the whole operation afloat for like 30 years, even when everything looked sketchy.
Finance guy Kayode Adigun got up and thanked everyone back, saying the teamwork between both the men and women has been solid since day one. He told the guys not to forget that their female coworkers are just as key to making the insurance company work in Nigeria's messy business scene. The whole speech came back to how respect and working together as a crew is what actually makes the place run.
Flavour just dropped his tracklist for a new album called Afroculture that hits streaming services this week. The project has 13 tracks with features from Pheelz, Kizz Daniel, Waga G, and Qing Madi, among others.
He already put out the title track with Senegalese legend Baaba Maal as a preview. The singer explained he held back the release because things have been rough in Nigeria lately and wanted the vibe to feel right when it came out.
