Feature/OPED
3 Financial Terms to Learn as a Small Business Owner

Small business owners often have a great idea and skills in a certain area, but they may not be as experienced in the financial side of running a company.
A deep understanding of business finance is crucial for making informed decisions and generating sustainable long-term growth.
In this article, we’ll cover a few of the most important financial terms for small business owners to be aware of. Make sure to check out our website if you’re interested in an sba 7a loan for your small business.
Return on Investment
Return on investment is one of the most important metrics for businesses of all sizes, and it can be applied to a wide range of investments. In general, it represents the amount of money you get back for a given expense.
For example, if you generate $150 in profits on a marketing campaign that cost $100, you would have a return on investment of 50%. In other words, every dollar you spent brought in an extra 50 cents along with covering the cost of the campaign. Of course, return on investment can also be negative when a project loses money.
Goodwill
Determining the value of a business can be a complex process, and it isn’t always reducible to the value of its assets. Companies develop strong relationships with their customers, and accountants quantify those intangible factors in the form of goodwill.
Depending on the business in question, goodwill could include anything from the perceived value of the brand name to the trust of a given audience. While it’s essentially impossible to precisely evaluate a company’s goodwill, the figure itself can be calculated as the difference between the value of a company and the value of its tangible assets.
Gross Margin
Revenue provides insight into a company’s scale, but it doesn’t say anything about its profitability. A business that makes $50,000 in annual sales on $40,000 in expenses isn’t as profitable as one that sells $25,000 on just $10,000.
Margins can be calculated as either a percentage or a flat figure, which corresponds to total profits. For example, the company with $100,000 in sales and $90,000 in expenses would have a margin of $10,000 or 20%, while the company with $25,000 in sales and $10,000 in expenses would have a margin of $15,000 or 60%.
You don’t need to be an accounting expert to run a small business, but it’s critical to understand the financial side of your company. These are just a few of the most important terms to be aware of as a small business owner.
Feature/OPED
Why Youth Engagement is Nigeria’s Agricultural Imperative

By Diana Tenebe
Nigeria stands at a critical juncture, faced with a demographic reality that is both its greatest asset and a significant challenge. With a population where almost 70% are under the age of 30, the nation’s future is undeniably in the hands of its youth.
Yet, the agricultural sector, the traditional backbone of the economy, is in a state of crisis, with an aging farming population and a notable disinterest from the younger generation. This disconnect poses a serious threat to our food security, economic stability, and long-term sustainable development. To navigate this, Nigeria must embark on a deliberate and multi-faceted mission to transform agriculture from a career of last resort into a dynamic, profitable, and respected profession for its youth.
The perception of farming as a life of drudgery, poverty, and limited opportunity is deeply ingrained in the minds of many young Nigerians. This is not without reason. The sector is often associated with backbreaking labor, outdated methods, and significant financial risk. The lack of access to land, credit, and modern technology creates a formidable barrier to entry, pushing aspiring young people towards often non-existent or poorly paid urban jobs. This exodus from rural areas exacerbates the issue, leaving an agricultural sector in need of fresh ideas and a renewed workforce.
To reverse this trend, we must begin by transforming the very image of agriculture. Education is the key. Integrating agriculture, food, and nutrition into the national curriculum from primary school upwards can fundamentally change how young people view the sector. By making it a compulsory subject in secondary schools, we can equip students with practical knowledge and foster an appreciation for the vast opportunities within the food system. School gardens and ‘Farm to School’ initiatives can provide hands-on experience, connecting young minds with the processes of food production and the rewards of a healthy community. By promoting farming as a business, not just a means of subsistence, we can highlight its potential for profitability and professionalism.
Crucially, young Nigerians need to see that success in agriculture is not just possible, but a reality. Showcasing successful young farmers and agripreneurs through media campaigns, documentaries, and digital platforms like Agribusiness TV can provide powerful role models. These stories of innovation, resilience, and financial success can inspire a new generation to reconsider their career paths. Peer-to-peer learning, where successful young farmers share their evidence-based success, is an effective way to demonstrate the viability of modern agricultural practices and encourage others to follow suit.
Beyond changing perceptions, we must address the tangible barriers to entry. Access to finance is paramount. Innovative funding models, including grants, subsidies, and venture capital funds specifically for young agricultural entrepreneurs, can ease the initial burden of starting an agribusiness. Policy reforms that simplify land acquisition and promote cooperative farming models are essential to ensure young people have access to the resources they need. Furthermore, providing training in technical, business, and financial literacy will empower them to develop robust business plans and attract investment.
Perhaps the most potent tool for attracting Nigeria’s tech-savvy youth is technology itself. Modern agriculture is a far cry from the old-school image of a farmer with a hoe. Digital technologies, from mobile apps that provide real-time market prices to blockchain for product traceability, can connect young farmers directly to markets and streamline their operations. The introduction of technologies like hydroponics, aquaponics, and automated farm machinery not only reduces drudgery but also offers attractive, quick-return opportunities. By promoting agri-tech startups and establishing ICT training centers for rural youth, we can position agriculture as a hub of innovation.
The government has a vital role to play in fostering an enabling environment. Initiatives like the National Young Farmers Scheme and partnerships such as the one between the Federal Government and Niger State to empower 100,000 youths are commendable steps. Continued public investment, alongside the involvement of youth in policy dialogue, will signal a genuine commitment to their future in the sector.
Engaging Nigeria’s youth in agriculture is not merely an option—it is a national imperative. By transforming perception, enhancing access to resources, and leveraging technology, we can unlock their immense potential, ensuring a sustainable and prosperous future for the entire nation. The time to act is now.
Diana Tenebe is the Chief Operating Officer of Foodstuff Store
Feature/OPED
Artificial Intelligence: The Indispensable Catalyst for Nigeria’s Agricultural Revolution

By Diana Tenebe
Nigeria’s agricultural sector, a cornerstone of its economy, faces a critical crossroads. While employing a staggering 40% of the population and holding over 84 million hectares of arable land, the industry is hobbled by deep-seated challenges. Low productivity, a fragmented supply chain, poor infrastructure, and a lack of access to financial services are just a few of the hurdles that prevent the sector from reaching its full potential. Coupled with the unpredictable and severe shocks of climate change—from prolonged droughts to devastating floods—these issues threaten the food security of a rapidly growing population.
To truly transform this vital sector, a new approach is needed, one that moves beyond traditional methods and embraces the power of technology. Artificial Intelligence (AI) is not just a futuristic buzzword; it is the imperative for Nigeria’s agricultural revolution. AI holds the key to unlocking higher yields, building resilience, and fostering an inclusive and sustainable food system that can feed a nation and drive economic growth.
The most immediate impact of AI is in the area of precision farming. By integrating AI with technologies like Internet of Things (IoT) sensors, drones, and satellite imagery, farmers can gain an unprecedented understanding of their land. AI-powered systems can analyse real-time data on soil moisture, nutrient levels, and plant health, providing actionable insights for targeted interventions. For instance, smart irrigation systems can optimize water usage, a critical resource in a country facing increasing water scarcity. AI-enabled drones can survey vast farmlands in minutes, identifying early signs of pests or disease and allowing for precise application of pesticides, reducing chemical use and cost. Early trials of these technologies in Nigeria have already demonstrated significant gains, with some reports showing a remarkable 60-70% increase in crop yields.
Climate adaptation is another area where AI’s role is indispensable. Nigeria’s farmers are on the front lines of climate change, enduring erratic rainfall and extreme weather events. AI can provide a shield against this volatility. By analyzing historical weather data and real-time forecasts, AI models can offer accurate, localized predictions. This allows farmers to proactively adjust their planting schedules, select climate-resilient crop varieties, and plan for potential risks, effectively mitigating the devastating impact of droughts and floods.
The economic benefits extend far beyond the farm gate. A significant portion of Nigeria’s agricultural produce is lost due to an inefficient and fragmented supply chain. AI can streamline logistics, optimize transportation routes, and enhance inventory management. By reducing spoilage and waste, AI ensures that more of what is harvested reaches the market, thereby boosting the incomes of farmers and providing a more stable supply of food for consumers. The success of Nigerian agritech companies like Crop2Cash, which has reportedly helped over 500,000 farmers increase their income by up to 70%, demonstrates the tangible economic impact of these technologies.
AI is a powerful tool for promoting financial inclusion and education. Millions of smallholder farmers, who form the backbone of Nigerian agriculture, are often excluded from formal financial systems due to a lack of collateral and credit history. AI-driven fintech solutions can bridge this gap by assessing creditworthiness using alternative data, making it easier for farmers to access the loans and insurance they need to scale their operations. AI-powered mobile apps and chatbots can also serve as virtual extension agents, providing personalized advice on best farming practices, pest control, and crop management, democratizing knowledge and empowering farmers to make better decisions.
Despite this immense potential, the journey towards widespread AI adoption is not without its hurdles. High upfront costs for AI-enabled equipment, a general lack of understanding and experience with these tools, and a preference for traditional methods are all significant barriers. Furthermore, infrastructural gaps, including poor roads and inadequate storage facilities, hinder the seamless implementation of these technologies. Data availability and computational capacity are also key challenges that need to be addressed.
However, the Nigerian government and a burgeoning ecosystem of agritech startups are already paving the way forward. The government’s vision is articulated in initiatives like the National AI Strategy, which aims to establish AI research centers and support R&D. Programs such as the Nigeria Artificial Intelligence Research Scheme (NAIRS) and the NITDA AI Developers Group are building the necessary skills among entrepreneurs and farmers. Strategic partnerships between government bodies, financial institutions, and innovative startups are creating localized solutions that are tailored to the unique conditions of Nigerian agriculture.
Ultimately, AI is not a luxury but an imperative for Nigeria to unlock its agricultural potential. Its successful integration will transform the role of the farmer from a manual laborer to a strategic planner and overseer of a smart, efficient, and sustainable food system.
By investing in infrastructure, fostering strategic partnerships, and prioritizing education and capacity building, Nigeria can harness the power of AI to feed its people, drive economic prosperity, and secure its place as a leader in the African agricultural revolution.
Diana Tenebe is the Chief Operating Officer of Foodstuff Store
Feature/OPED
Nigerian Women Achieve: Lessons in Real Support from the Super Falcons and MTN

When the Super Falcons pulled off their stunning comeback against Morocco to win the 2024 Women’s Africa Cup of Nations, it wasn’t just another title. It was a defining moment. Down by two goals and playing against the host country, the Nigerian women’s team fought back to clinch a 3–2 victory and claim their 10th WAFCON trophy. It was bold, brilliant and beautiful to watch.
But beyond football, something else stood out. In the days that followed, the Falcons shared a handwritten letter addressed to MTN Nigeria. It was signed by their captain, Rasheedat Ajibade, and spoke from the heart. The team acknowledged MTN’s support throughout the tournament, from their pre-match preparations to the warm welcome they received back home. It wasn’t just about appreciation. It was a reflection of what can happen when women are backed, seen and celebrated.
MTN has been the official telecommunications partner of the Nigerian Football Federation for years, and their involvement in football isn’t new. But their support of the women’s team this year was different. It was loud, visible and intentional. The Falcons were first received at the MTN Nigeria headquarters in Ikoyi, where staff lined the building, singing and cheering as the players arrived. The next day, MTN hosted a celebratory breakfast reception in Lagos where the company presented the team and coaching crew with a 150 million naira reward. Of that sum, 115 million went to the players and 35 million to the technical team.
What stood out even more than the money were the words shared by MTN’s CEO, Dr, Karl Toriola. He called the Super Falcons more than athletes. He called them inspirations. He spoke not only of MTN’s pride in their performance but also of the company’s broader commitment to women in leadership. According to Toriola, MTN Nigeria has already surpassed the 50-50 executive management gender representation goal set for 2030, and currently holds one of the most balanced leadership teams on the Nigerian Stock Exchange.
This alignment between external support and internal structure says a lot. MTN is not simply attaching its name to a moment. It is investing in systems that allow women to thrive, whether they’re on the football pitch or in the boardroom. That kind of support is rare, and it matters.
The Falcons clearly see it. In their letter, they described MTN’s role as more than a sponsorship. They acknowledged the power of visibility, of being shown that their achievements are worth celebrating. They also made it clear that this is just the beginning. The WAFCON win was historic, but their sights are set higher. They want to be global contenders, not just local champions.
That journey will require continued support, not just from the Federation or government, but from partners like MTN who understand that progress for women must be intentional and consistent. Backing women means showing up before the trophy is lifted, not just after.
Moments like these show us what is possible when women are supported to rise. And it is not just about football. It is about changing how young girls see themselves. It is about shifting how women are valued in every space. The Falcons said it best in their closing line to MTN: “Together, we’ll keep soaring.”
-
Feature/OPED6 years ago
Davos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy2 years ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology5 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN