Economy
How to Start Your Business: 3 Ideas and a Checklist for an Aspiring Entrepreneur
How do you launch your business and bring your product to the top if you have never dealt with project management before? That’s easy: learn entrepreneurship at business courses. They will provide you with useful practical knowledge.
Questions for an aspiring businessperson
What should a novice entrepreneur do to make the idea “take off”? Lectera experts suggest answering a pool of questions about yourself and your future business to find out.
- Which of your skills are well-developed? What have you studied and what would you like to learn?
- What activities do you enjoy or hate?
- What is your idea? What will you be selling and to whom?
- What are the needs of your potential customers within this idea? Who are they?
- Is there a demand for the product you plan to produce?
- Can this product be sold multiple times to the same consumer?
- What effort and how much time will you need to spend on concluding a deal, that is, making a sale?
- Are you employed? If yes, can you combine employment and business? Are you ready financially and morally to quit and devote yourself to the new business entirely?
- Are you going to look for a team? Who should be in it?
As entrepreneurs from the Lectera business club say, the key is to be honest with yourself and not try to appear better or a hundred times more experienced than you actually are.
What is more profitable: providing services, trading goods, or creating your own products?
If you are not yet studying at Lectera and do not know what will be more profitable – services, goods, or production – read the following paragraphs describing each direction.
- Providing services
If you have education, work experience and free time, you can start by providing services. If it requires renting an office, purchasing equipment, or taking countless courses, it is hardly worth it. At least if you want to start quickly. Without investments, you can create websites, sew and knit to order, repair equipment, cook, clean, set up contextual and targeted advertising, create designs, etc.
- Trading goods
If you do not have the funds to purchase the first batches of goods, you can try to become a sales agent, distributor in network marketing or an intermediary. You can find out what buyers are looking for through services for collecting analytics, such as Google Metrics. After that, you can find manufacturers of these goods online and send them a commercial offer for cooperation. Or find buyers first, and only then go to a potential seller with a commercial offer. Of course, a certain fee for mediation should already be included in the cost of the goods.
- Producing
Do you know how to make something with your own hands? Then you can scale this skill and monetise it! You can make jewellery, soap and related products, plush toys, bouquets and so on without leaving the comfort of your home.
Keep trying even if something doesn’t work out, stay persistent, and your business will definitely become a new unicorn! And we at Lectera will help you to achieve this.
By Aduragbemi Omiyale
Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.
A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.
According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.
These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.
The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.
According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.
The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.
According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.
The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.
Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.
It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.
For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.
By Adedapo Adesanya
Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.
The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.
Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.
GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
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