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8 Steps for Turning Viable Business Idea Into Fundable Business

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By Dotun Oyebolu

There is an old saying that investors bet the jockey over the horse. Horses come and go, but a really good jockey is a rare thing and lasts a lifetime.

The discourse about lack of funding being the most critical challenge facing small businesses seem to have been overestimated to a degree that it’s been formed in the neural pathways of many entrepreneurs. They blame everything, even internal problems on lack of funding.

On the flip side, newspaper headlines continue to feature many emerging businesses whom recently have secured funding from local and foreign investors.

When I analysed these businesses side by side with the total stock of funds in Nigeria looking to invest in emerging businesses, (which my data happens to put at $6 billion), I believe the major issue here in Nigeria is that we have very few fundable businesses.

You need to understand the difference between a viable business and a fundable business. Certainly a non-viable business should not be fundable, but many viable businesses are also not fundable. Fundamentally, a viable business means that your business is on its way to self-sustaining revenues, while a fundable business means your business has the potential to fundamentally change the lives of a large number of people and can generate optimal returns for investors.

Financing a viable business that is not fundable will just be mere experimenting. Nobody wants to experiment; they want to either light up a fire that they are sure of or pour gasoline on a fire that is already burning – a $1million business idea is different from a $1million business, investors are interested in the latter.

Hence, before you source for funding or come up with excuses why your funding request was rejected, be brave and look at your business with honesty: does it look and feel like a fundable company?

So here we go, how do you make your business fundable?

For your business to be fundable, your business plan need to clear, scalable, possess huge market potential and has to be uniquely qualified to deliver. You need to match your plan with credible likelihood to execute. According to Alan Brody, the best (fundable) idea and entrepreneurs are “in the moment” of the idea – the idea looks right, the entrepreneur looks right and the timing looks right.

The steps outlined here should be used as a baseline for any entrepreneur working to develop their idea or concept into a fundable business proposition and moving it to the next level with potential investors.

Validate your idea

You shouldn’t try to create a business that has not yet been defined. The biggest mistake most entrepreneurs make is starting to work on a business idea before confirming that there is market demand. If your startup aims to sell a product the world has never seen, make sure the world, in fact, needs your product. Perhaps it doesn’t exist yet because no one needs it. If it is needed, then make sure the world is willing to pay for it. Don’t work on the business until you’ve validated the idea, make sure there’s a market, make sure it’s what the customer wants. Sometimes the entrepreneur’s vision doesn’t align properly with what customers want.

Create a solid business plan, pitch-deck and financial model that you understand

Half the business idea pitches I hear don’t have any plan at all, even though some have great potential. Creating a business plan requires you to do research and really think about your product or service, identify your prospective customers, and to analyze your competition in that specific channel or marketplace. It will help get you thinking about marketing and overhead costs. As you go through this process, your idea may begin to change, to grow, and to mature into a well thought out and developed concept. This is what investors will be interested in.

Build the right team

Investors bet on the team, just as they bet on a business plan. Your business model may be very attractive, but if you are new to this, you may not be fundable. If you can find a partner who has deep domain knowledge and a track record of building businesses, I can assure you that your luck will improve.

Have a thorough structure

Governance of a company, even a young one, can tell an investor a lot about the capabilities of the promoters. Ensure that you can accurately portray your current company structure, and that you have the clerical backing for it. All registration documents and resolutions need to be obtainable and compliance with all industry bodies and laws need to be in place.

Have a clear go-to-market strategy and competitive advantage

You need to show how your product or service will be embodied in a solution that satisfies people’s need, what channels will be used for sales and what business model maximizes return. You also need to have a long-term sustainable competitive advantage in the market, an idea or concept that changes the basis of competition within the targeted market of interest.

Your business must be scalable

Your business plan may eliminate world hunger, but hungry people don’t have much money. Some business may make sense for now, but scaling and profitability is limited. How much realistic growth potential does your business have? Is there a way to double or triple your revenues within a year or two? What will it take to make it happen? If you can demonstrate the scalability of your company, you’ll find more investors willing to talk to you.

Have an early track record of sales

If you have a functional product, have you begun to sell it? If you can show investors you have a product that is already seeing some sales, they will be more likely to take your idea seriously. If you have not yet logged any sales, you should at least get feedback from neutral consumers in your target market and present it to investors. In short, you will need to prove that consumers are willing to pay for your product.

Be aware, respond to feedback and refine your business model

Recently, an entrepreneur shared his business plan with me. First-mover advantage was basically his selling point, but my quick research on the business led me to 5 big players already in the industry. It was later I discovered he had this business plan written in 2014 and has done nothing to it since then. It is necessary to constantly think with the lines of your business, you have always got to be thinking about how you can tweak things to make the business even better. You have to be acutely aware of what the market is telling you and what you are able to learn about either your competitive landscape or the market you’re trying to serve or the problems you’re trying to solve, it’s a continuous process.

Always try to look at your business, and business plan, through the eyes of an investor, do not get caught up with your business idea that you lose sight of how others see it. Investors are constantly looking to invest; your job is to be properly prepared when opportunity strikes.

Even if you are not searching for funding, it will be worth your while to navigate your business into a category that is both viable and fundable. The odds of finding funding generally correlate highly to your odds of business success, and your personal risk is even more critical than outside investor risk. Minimise both

http://www.arm.com.ng/8-steps-turning-viable-business-idea-fundable-business/

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Guide to Employee Training That Reinforces Workplace Safety Standards

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Workplace Safety Standards

Workplace safety is not sustained by policies alone. It is built through consistent training that shapes daily behaviour, decision-making, and accountability across every level of an organisation. When employees understand not only what safety rules exist but why they matter, they are far more likely to follow them and intervene when risks arise. Effective safety-focused training protects workers, strengthens operations, and reduces costly incidents that disrupt productivity and morale.

As industries evolve and workplaces become more complex, employee training must go beyond basic orientation sessions. Reinforcing safety standards requires an ongoing, structured approach that adapts to new risks, changing regulations, and real-world job demands. A thoughtful training strategy helps create a culture where safety is a shared responsibility rather than a checklist item.

Establishing a Foundation of Safety Awareness

The first purpose of workplace safety training is awareness. Employees cannot avoid hazards they do not understand. Comprehensive training introduces common workplace risks, clarifies acceptable behaviour, and sets expectations for personal responsibility. This foundational knowledge empowers employees to recognise unsafe conditions before incidents occur.

Safety awareness training should be tailored to the specific environment in which employees work. Office settings require education on ergonomics, electrical safety, and emergency evacuation procedures, while industrial workplaces demand detailed instruction on machinery risks, protective equipment, and material handling. When training reflects actual job conditions, employees are more engaged and better equipped to apply what they learn.

Clear communication is essential during this stage. Using plain language and real examples helps employees connect training concepts to daily tasks. When safety awareness becomes part of how employees think and talk about their work, it begins to shape behaviour consistently across the organisation.

Integrating Safety Training into Daily Operations

Safety training is most effective when it is integrated into everyday work rather than treated as a one-time event. Ongoing reinforcement ensures that safety standards remain top of mind as tasks, equipment, and responsibilities change. Regular training sessions create opportunities to refresh knowledge, address new risks, and correct unsafe habits before they lead to injury.

Incorporating short safety discussions into team meetings helps normalise these conversations. Supervisors play a critical role by modelling safe behaviour and reinforcing expectations during routine interactions. When employees see safety emphasised alongside productivity goals, it reinforces the message that both are equally important.

Hands-on training also strengthens retention. Demonstrations, practice scenarios, and real-time feedback allow employees to apply safety principles in controlled settings. This experiential approach builds confidence and reduces hesitation when employees encounter hazards in real situations.

Aligning Training with Regulatory Requirements

Workplace safety training must align with applicable regulations and industry standards to ensure legal compliance and worker protection. Laws and regulations change frequently, making it essential for organisations to keep training materials updated. Failure to do so can expose employees to unnecessary risk and organisations to legal consequences.

Training programs should clearly explain relevant safety regulations and how they apply to specific roles. Employees are more likely to comply when rules are presented as practical safeguards rather than abstract mandates. Documenting training completion and maintaining accurate records also demonstrates organisational commitment to compliance.

Many organisations rely on support from compliance training companies to navigate complex regulatory landscapes and design programs that meet both legal and operational needs. These partnerships can help ensure training remains accurate, consistent, and aligned with evolving requirements without overwhelming internal resources.

Encouraging Participation and Accountability

Effective safety training depends on active participation rather than passive attendance. Employees should be encouraged to ask questions, share concerns, and contribute insights based on their experiences. When workers feel heard, they become more invested in maintaining a safe environment.

Creating accountability is equally important. Training should clarify individual responsibilities and outline the consequences of ignoring safety standards. Employees need to understand that safety is not optional or secondary to performance goals. Reinforcement from leadership ensures that unsafe behaviour is addressed consistently and constructively.

Peer accountability also strengthens safety culture. When training emphasises teamwork and shared responsibility, employees are more likely to watch out for one another and intervene when they see risky behaviour. This collective approach reduces reliance on supervision alone and builds resilience across the workforce.

Adapting Training for Long-Term Effectiveness

Workplace safety training must evolve alongside organisational growth and workforce changes. New hires, role transitions, and technological updates introduce risks that require refreshed instruction. Periodic assessments help identify gaps in knowledge and opportunities for improvement.

Data from incident reports, near misses, and employee feedback provides valuable insight into training effectiveness. Adjusting content based on real outcomes ensures that training remains relevant and impactful. Organisations that treat training as a dynamic process are better equipped to respond to emerging risks.

Long-term effectiveness also depends on reinforcement beyond formal sessions. Visual reminders, updated procedures, and accessible reporting tools help sustain awareness. When safety standards are supported through multiple channels, employees receive consistent cues that reinforce training messages daily.

Conclusion

Reinforcing workplace safety standards through employee training requires intention, consistency, and adaptability. Training that builds awareness, integrates into daily operations, aligns with regulations, and encourages accountability creates a safer environment for everyone involved. When employees understand their role in maintaining safety, they are more confident, engaged, and prepared to prevent harm.

A strong training program is not simply a compliance exercise. It is an investment in people and performance. Organisations that prioritise meaningful safety training protect their workforce while fostering trust, stability, and long-term success.

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Debt is Dragging Nigeria’s Future Down

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more concessional debt

By Abba Dukawa 

A quiet fear is spreading across the hearts of Nigerians—one that grows heavier with every new headline about rising debt. It is no longer just numbers on paper; it feels like a shadow stretching over the nation’s future. The reality is stark and unsettling: nearly 50% of Nigeria’s revenue is now used to service debt. That is not just unsustainable—it is suffocating.

Behind these figures lies a deeper tragedy. Millions of Nigerians are trapped in what experts call “Multidimensional Poverty,” struggling daily for dignity and survival, while a privileged few continue to live in comfort, untouched by the hardship tightening around the nation. The contrast is painful, and the silence around it is even louder.

Since assuming office, Bola Ahmed Tinubu has embarked on an aggressive borrowing path, presenting it as a necessary step to revive the economy, rebuild infrastructure, and stabilise key sectors.

Between 2023 and 2026, billions of dollars have been secured or proposed in foreign loans. On paper, it is a strategy of hope. But in the hearts of many Nigerians, it feels like a gamble with consequences yet to unfold.

The numbers are staggering. A borrowing plan exceeding $21 billion, backed by the National Assembly, alongside additional billions in loans and grants, signals a government determined to keep spending and building. Another $6.9 billion facility follows closely behind. These are not just financial decisions; they are commitments that will echo into generations yet unborn.

And so, the questions refuse to go away. Who will bear this burden? Who will repay these debts when the time comes? Will it not fall on ordinary Nigerians already stretched thin to carry the weight of decisions they never made?

There is a growing fear that the nation may be walking into a future where its people become strangers in their own land, bound by obligations to distant creditors.

Even more troubling is the sense that something is not adding up. The removal of fuel subsidy was meant to free up resources, to create breathing room for meaningful development.

But where are the results? Why does it feel like sacrifice has not translated into relief? The silence surrounding these questions breeds suspicion, and suspicion slowly erodes trust.  As of December 31, 2025, Nigeria’s public debt has risen to N159.28 trillion, according to the Debt Management Office.

The numbers keep climbing, but for many citizens, life keeps declining. This disconnect is what hurts the most. Borrowing, in itself, is not the enemy. Nations borrow to grow, to build, to invest in their future. But borrowing without visible progress, without accountability, without compassion for the people, it begins to feel less like strategy and more like a slow descent.

If these borrowed funds are truly building roads, schools, hospitals, and opportunities, then Nigerians deserve to see it, to feel it, to live it. But if they are funding excess, waste, or luxury, then this path is not just dangerous—it is devastating.

Nigeria’s growing loan profile is a double-edged sword. It can either accelerate development or deepen economic challenges. The key issue is not just borrowing, but what the country does with the money. Strong governance, transparency, and investment in productive sectors will determine whether these loans become a foundation for growth or a long-term liability. Because in the end, debt is not just an economic issue. It is a moral one. And if care is not taken, the price Nigeria will pay may not just be financial—it may be the future of its people.

Dukawa writes from Kano and can be reached at [email protected]

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Nigeria’s Power Illusion: Why 6,000MW Is Not An Achievement

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Nigeria Electricity Act 2023

By Isah Kamisu Madachi

For decades, Nigeria has been called the Giant of Africa. The question no one in government wants to answer is why a giant cannot keep the lights on.

Nigeria sits on the largest proven oil reserves in Africa, holds the continent’s most populous nation at over 220 million people, and commands the fourth largest GDP on the continent at roughly $252 billion. It possesses vast deposits of solid minerals, a fintech ecosystem that accounts for 28% of all fintech companies on the African continent, and a diaspora that remits billions of dollars annually.

If potential were electricity, Nigeria would have been powering half the world. Instead, an immediate former minister is boasting about 6,000 megawatts.

Adebayo Adelabu resigned as Minister of Power on April 22, 2026, citing his ambition to contest the Oyo State governorship election. In his resignation letter, he listed among his achievements that peak generation had increased to over 6,000 megawatts during his tenure, supported by the integration of the Zungeru Hydropower Plant. It was presented as a great crowning legacy. The claim deserves scrutiny, and the numbers deserve context.

To begin with, the context. Ghana, Nigeria’s neighbour in West Africa, has a national electricity access rate of 85.9%, with 74% access in rural areas and 94% in urban areas. Kenya, with a 71.4% national electricity access rate, including 62.7% in rural areas, leads East Africa. Nigeria, by contrast, recorded an electricity access rate of just 61.2 per cent as of 2023, according to the World Bank. This is not a distant or poorer country outperforming Nigeria. Ghana’s GDP stands at approximately $113 billion, less than half of Nigeria’s. Kenya’s economy is around $141 billion. Ethiopia, which has invested massively in the Grand Ethiopian Renaissance Dam and is already exporting electricity to neighbouring countries, has a GDP of roughly $126 billion. All three are doing more with far less.

Now to examine the 6,000-megawatt, Daily Trust obtained electricity generation data from the Association of Power Generation Companies and the Nigerian Electricity Regulatory Commission, covering quarterly performance from 2023 to 2025 and monthly data from January to March 2026. The data shows that in 2023, peak generation was approximately 5,000 megawatts; in 2024, it reached approximately 5,528 megawatts; in 2025, it ranged between 5,300 and 5,801 megawatts; and by March 2026, available capacity had declined to approximately 4,089 megawatts. The grid never recorded a verified peak of 6,000 megawatts or higher. Adelabu had, in fact, set the 6,000-megawatt target publicly on at least three separate occasions, missing each deadline, and later admitted the target was not achieved, attributing the failure to vandalism of key transmission infrastructure.

In February 2026, Nigeria’s national grid produced an average available capacity of 4,384 megawatts, the lowest monthly average since June 2024. For a country with over 220 million people, this means electricity supply remains far below national demand, with the grid delivering only about 32 per cent of its theoretical installed capacity of approximately 13,000 megawatts. To put that in sharper comparison: in 2018, 48 sub-Saharan African countries, home to nearly one billion people, produced about the same amount of electricity as Spain, a country of 45 million. Nigeria, the continent’s most resource-rich large economy, is a significant part of that embarrassing equation.

The tragedy here is not just technical. It is a governance failure with compounding human costs. An economy that cannot provide reliable electricity cannot competitively manufacture goods, cannot industrialise at scale, cannot attract the volume of foreign direct investment its endowments warrant, and cannot build the digital infrastructure that would allow it to lead on artificial intelligence, data governance, and the emerging critical minerals economy where Africa’s next great opportunity lies. Countries with a fraction of Nigeria’s mineral wealth and human capital are already debating those frontiers. Nigeria is still campaigning on megawatts.

What a departing minister should be able to say, given Nigeria’s endowments, is not that peak generation touched 6,000 megawatts at some unverified moment. He should be saying that Nigeria now generates reliably above 15,000 megawatts, that rural electrification has crossed 70 per cent, and that the country is on a credible trajectory toward the kind of energy sufficiency that unlocks industrial growth. That is the standard Nigeria’s size and resources demand. Anything below it is not an achievement. It is an apology dressed in a press release.

The power sector has received billions of dollars in investment across multiple administrations. The 2013 privatisation exercise, the Presidential Power Initiative, the Electricity Act of 2023, and successive reform promises have produced a sector that still, in 2026, cannot guarantee eight hours of reliable supply to the average Nigerian household. That a minister exits that ministry citing a megawatt figure that fact-checkers have shown was never actually reached, and that even if reached would be unworthy of celebration given Nigeria’s potential, captures the full depth of the problem. The ambition is too small. The accountability is too thin. And the country deserves better from those who are privileged to manage its extraordinary, squandered potential.

Isah Kamisu Madachi is a policy analyst and development practitioner. He writes via [email protected]

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