Economy
5,000 Business Owners in Nigeria, Others Graduate from Google Hustle Academy
By Modupe Gbadeyanka
Not less than 5,000 business owners drawn from Nigeria, Kenya, and South Africa have completed a training programme from Google Hustle Academy.
The Hustle Academy, launched in February, provides practical business training which helps entrepreneurs learn the soft skills that complement their hard talents through peer-to-peer and mentor-driven learning.
At the graduation ceremonies in the three countries, Google announced a new speaker series in which successful African entrepreneurs share lessons and advice, furthering its commitment to helping entrepreneurs and small businesses thrive.
The new talk-show-style video series featuring renowned and respected entrepreneurs from across Africa, sharing practical advice and growth tips to inspire emerging entrepreneurs, is meant to complement and expand the Hustle Academy training.
This speaker series will allow SMBs to get insight from business owners from an array of sectors, focusing on the issues, themes and subjects they face on a regular basis.
“Our graduates are working hard to grow their businesses, and in addition to having an impact in these 5000 SMBs, this kind of practical training also has a ripple effect, helping many more people succeed,” the Head of Brand and Reputation for SSA at Google, Ms Mojolaoluwa Aderemi-Makinde, stated.
“Small and medium-sized businesses (SMEs) are the backbone of the global economy, and in Africa, they account for an estimated 80 per cent of jobs.
“In Sub-Saharan Africa (SSA) alone, there are an estimated 44 million micro, small and medium enterprises, which function as important drivers of economic growth,” she added.
Business Post gathered that this year’s graduates were chosen from nearly 10,000 applications and from 23 cohorts who attended five-day virtual bootcamps where they learned how to define their business strategy, increase sales, and how to pitch for investor funding. The curriculum also included lessons on digital marketing and effective financial planning.
Each business also received one on one mentoring sessions to address specific pain points in their businesses and to get advice from a network of trained mentors and coaches.
The initiative is part of Google’s support for businesses in Africa to allow them to take advantage of all the opportunities that the web offers and equip them with the tools to develop and grow.
By Adedapo Adesanya
The Naira opened the week stronger against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, March 16, by N8.46 or 0.62 per cent to trade at N1,357.77/$1 compared with the previous session’s N1,366.23/$1.
In the same vein, the local currency appreciated against the Pound Sterling in the same market segment yesterday by N23.45 to quote at N1,789.54/£1 compared with last Friday’s value of N1,812.99/£1, and improved its value against the Euro by N9.72 to N1,558.31/€1 from N1,568.03/€1.
Similarly, the Naira gained N5 against the greenback in the parallel market during the trading session to sell for N1,395/$1 compared with the previous rate of N1,400/$1, and closed flat at the GTBank FX desk at N1,385/$1.
The pressure that piled on the domestic currency appeared to have eased, buoyed by higher oil prices, which have continued to bolster market sentiment.
A report by Coronation Merchant Bank Research said Brent crude prices advanced by 11.16 per cent week-on-week, rising from $91.00 per barrel to close at $101.16 per barrel amid escalating geopolitical tensions in the Middle East.
The bank noted that developments in the region heightened concerns about potential disruptions to global oil supply, increasing volatility in energy markets.
Nigeria recorded modest portfolio inflows as investors sought higher-yielding opportunities, but the inflows helped support liquidity in the FX market and contributed to the Naira’s recovery during the past week.
Also, Nigeria’s inflation cooled to 15.06 per cent in February 2026 from 15.10 per cent in January 2026, data from the National Bureau of Statistics (NBS) showed.
As for the cryptocurrency market, prices continued to weigh the tensions around the Strait of Hormuz — a critical oil shipping route between the Persian Gulf and global markets — appeared to ease slightly.
US President Donald Trump called on other nations to help secure the waterway, while some tankers reportedly have crossed the Strait, suggesting that traffic through the corridor has not been fully disrupted.
This weakened some coins, including Dogecoin (DOGE), which slumped by 1.7 per cent to $0.0998, and Cardano (ADA), which depreciated 1.6 per cent to $0.2832. Binance Coin (BNB) lost 1.5 per cent to sell for $674.25, TRON (TRX) declined by 0.6 per cent to $0.2964, and Solana (SOL) dropped 0.2 per cent to $93.66.
On the flip side, Ripple (XRP) jumped 2.2 per cent to $1.51, Ethereum (ETH) grew by 1.5 per cent to $2,302.08, and Bitcoin (BTC) appreciated by 0.1 per cent to $73,951.40, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited reached an all-time high of 201,474.89 points on Monday after adding 3,067.59 points or 1.55 per cent to its previous closing figures of 198,407.30 points.
Buying pressure in three of the five key sectors sustained the upward trend on Customs Street during the trading session, analysis of the market data revealed.
The industrial goods sector appreciated by 4.52 per cent, the banking index improved by 2.20 per cent, and the consumer goods space rose by 0.03 per cent.
However, the insurance sector experienced profit-taking, which crashed it by 0.43 per cent, and the energy counter lost 0.08 per cent due to sell-offs.
When the bourse ended for the day, the market capitalisation chalked up N1.969 trillion to settle at N129.330 trillion compared with last Friday’s M127.361 trillion.
BUA Cement led the advancers’ group yesterday after growing by 10.00 per cent to N297.00, Premier Paints jumped 9.79 per cent to N21.30, John Holt expanded by 9.52 per cent to N10.35, Guinea Insurance soared by 9.38 per cent to N1.40, and Fortis Global Insurance grew by 9.32 per cent to N1.29.
On the flip side, VFD Group led the laggards’ gang after it gave up 10.00 per cent to close at N11.25, Royal Exchange shed 9.63 per cent to settle at N1.69, Omatek depreciated by 9.62 per cent to N2.35, Sovereign Trust Insurance lost 9.00 per cent to quote at N1.92, and Regency Alliance slipped by 8.94 per cent to N1.12.
Yesterday, a total of 948.2 million stocks valued at N49.2 billion were traded in 72,735 deals compared with 591.0 million stocks worth N35.0 billion transacted in 53,066 deals in the preceding session, representing an improvement in the trading volume, value, and number of deals by 60.44 per cent, 40.57 per cent, and 37.07 per cent apiece.
The activity log was led by Sovereign Trust Insurance, which traded 72.6 million equities valued at N147.1 million, Access Holdings sold 69.9 million shares for N1.8 billion, First Holdco exchanged 67.0 million stocks worth N3.4 billion, Zenith Bank transacted 60.0 million equities valued at N6.0 billion, and Nigerian Breweries exchanged 55.0 million shares worth N4.0 billion.
By Adedapo Adesanya
The oil market was down about 3 per cent on Monday after some vessels sailed through the critical Strait of Hormuz that has been largely shut down during the escalating war with Iran.
Iran has allowed some Indian vessels to sail through the Strait of Hormuz, sinking Brent futures by $2.93 or 2.8 per cent to $100.21 a barrel, as the US West Texas Intermediate (WTI) crude drowned $5.21 or 5.3 per cent to settle at $93.50 per barrel.
The country also asked India to release three tankers seized in February as part of talks seeking the safe passage of Indian‑flagged or India‑bound vessels through the strait.
This was confirmed by the US with Treasury Secretary, Mr Scott Bessent, saying the US is fine with some Iranian, Indian and Chinese ships going through the Strait of Hormuz for now, adding that any action to mitigate higher prices would depend on how long the war lasts.
Meanwhile, allies rebuffed US President Donald Trump’s call for help in unblocking the strait. He said his administration has contacted roughly seven countries that rely heavily on Middle Eastern crude shipments and expects them to help secure the route.
The majority of crude moving through the strait ultimately heads to Asian markets, including China, India, Japan and South Korea.
According to the Associated Press, Chinese officials declined to directly address the request when asked during a daily briefing on Monday, instead reiterating their broader call for de-escalation in the region.
The Executive Director of the International Energy Information (EIA), Mr Fatih Birol, said on Monday that member countries could release more oil into the market from strategic stockpiles after they agreed to the largest-ever release of 400 million barrels last week.
The European Union (EU) foreign ministers are discussing on Monday the potential to move an already operational mission in the Middle East region to try to help unblock the Strait.
President Trump also threatened further strikes on Iran’s Kharg Island, which handles about 90 per cent of the country’s exports, after hitting military targets there that spurred further retaliation from Iran. On its part, Israel said it has detailed plans for at least three more weeks of war.
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