Feature/OPED
Data-driven Economy in Nigeria: Perspective, Orientation and Opportunities
By Timi Olubiyi, PhD
In most African countries like Nigeria, individuals are typically born, grow, live through adulthood, retire, aged, and die without the government’s knowing or being aware of their existence.
This happens more in the remote villages and more within the informal sector and within the unbanked population.
Noticeably, due to lack of political will, successive governments and heads of nations in these African countries have ignored the lingering need for a data management system to improve the political, societal, and economic development landscape.
Big data analytics has been the technology drive that many nations of the world are adopting for improved governance, Africa should not be an exception.
A clear instance in recent time was in Nigeria, the biggest economy in Africa, where millions of the citizens were expectant on palliative care from the government but due to logistics and lack of national data bank, it was difficult to achieve a seamless reach to the citizenries.
The distribution could have been more effective with an efficient database and social welfare systems instead of the eventual looting of the stored palliative items that ensued. Social welfare protection is key to provide citizens with an economic safety net during periods of illness, and economic hardship.
Records indicated that the social welfare system in the form of insurance and assistance programmes to the public emerged in Europe in the 1800s to majorly support the vulnerable and it has been driven largely by adequate data management.
This is the 21st century, yet Africa is still struggling with a data-driven economy. It is significant to state that most of the major decision-making or policies in western countries from the USA, Canada, Australia, and most European countries, these days are largely data-driven.
For instance, the Canadian government announced COVID-19 aid in the form of a one-time payment of up to $500 for eligible seniors to offset any increased living expenses they have incurred as a result of the pandemic.
In the same vein, such government supports and economic stimuli are applicable in the USA and the UK to save jobs, businesses and to minimize the economic impacts of the pandemic.
In Africa, it has been a difficult task and the issue has been mainly due to the lack of adequate citizen information, thereby increasing economic hardship and poverty.
Consequently, a national database is vital, it would provide insights into population demographics, unemployment rate, age distributions, births, deaths, mortality, marriages, and infrastructure gaps.
It can also help in developing the right targeted policies to fix or alleviate social issues such as corruption, inequality between the wealthy and poor, level of education and rate of unemployment among others.
Under international human rights law, Nigeria’s government has an obligation to protect people’s rights and to ensure a meaningful standard of living, including adequate food and nutrition, the highest attainable standard of health, and the right to social security.
To conveniently achieve this all-important mission, agreeably a national database is required.
In addition, to address the obligations especially the unemployment rate distribution across the country especially can be addressed, the national database is key and can help in a lot of national planning.
The process of capturing and storing citizen information backed with a data protection bill in the National Assemblies is highly desirable and seemingly necessary, particularly in Nigeria.
This national database can be used for so many verifiable and evidence-based statistics, evaluations, and a lot of inferences can be derived from it.
At this point, post-COVID-19 has presented an opportunity, which is the creation of a national database in these African countries. It is highly desirable and the benefits outweigh the costs meaningfully.
When a national database is in place it can be accessed, analysed and contact tracing can be made a lot easier. Agreeably, it can help in a variety of other ways, such as public service improvement, designing of policies, public health development, public safety, national security, national development, and poverty reduction.
It can also help in developing empirically-proven techniques for fostering human and capital development. No nation attains sustainable economic growth without developing a national database necessary to drive such growth. The national database methodology is a less expensive option to performing a physical census because it is a register-based census.
So far, the year 2020 has been filled with disruptions due to the novel coronavirus (COVID-19). Despite COVID-19 being a health issue, has continued to have a high-impact and severity on the economy, business, and lifestyle globally.
It continues to reshape the ways of doing things and high disruptions across the remains across all sectors and countries.
For a developing country like Nigeria and as obtainable in most African countries, the disruption level is higher, stern with fragile economies across the continent.
The majority of the African populace lacks a reliable social welfare system; therefore, the socio-economic impact of the COVID-19 has been more severe on the continent.
It is, therefore, recommended that concrete policy adoption be considered for the management of national emergencies, humanitarian responses, reduction of the impact of the current pandemic, and the attendant looming economic recession.
Returning to business of lack of a strong data management culture and lack of sound data for governance Post COVID-19 will only further retrogress the continent’s development and living of the over 1.2 billion population. In fact, solutions to social and economic problems are often inseparable from the data
Broadly speaking with COVID-19, the number of incidences keeps increasing, consequently, flattening the curve or having a drop in the reported cases is still a mirage at least for now mainly because of lack of effective data-driven decisions.
Therefore, measures to preserve the livelihoods of workers and businesses and ensure they get by conveniently during this period are vital. This is supported by the World Bank’s stipulation in their 2005 report, which recommends that countries should design, finance, and deliver social welfare accordingly with a data management system.
The methodology to adopt as part of the post-COVID-19 recovery policy and national development is for the countries to introduce a data-driven economy and effective national data management platform. In my opinion, data is a developmental infrastructure that can provide critical insights into the trend of human actions, practices, behaviours, and social impacts.
The government cannot improve on school infrastructures without adequately knowing how many children need to be enrolled. Therefore, when citizen data management is properly earnest, it holds tremendous potential to stimulate economic growth and measurable development.
In light of the many African nation’s desire for accelerated economic growth particularly Nigeria, a national database is necessary as part of the post-COVID-19 policy priority.
Nevertheless, if it is open, integrated, unified, and harmonized amongst all the tires of government it will be an enabler for transparency and accountability, as well as reduce crime and criminality in Africa.
A low number of African countries including South Africa, Namibia, Mauritius, and Lesotho have some form of social package much can still be achieved in education and health which are two widely acclaimed barometers used to measure economic growth.
The citizenry should be catered for especially the vulnerable, through an adequate social welfare system. The COVID-19 experience exposed this inadequacy in Africa and this can be corrected easily by initiating and achieving an acceptable national database in each country.
From adequately capturing birth registration, education enrolments, adulthood, citizens in diaspora, retirees, to the closure by death registration, the citizenry must be known, captured, and catered for adequately in Africa.
Nonetheless, the COVID-19 relief programs across Africa just go to show how far behind the continent is with the data-driven economy and national database development, especially in Nigeria. The vast majority of people in Africa are most vulnerable according to context observation, and many of the countries are still grappling to protect their citizens from the negative impact of the COVID-19 pandemic.
That said, the fertility rate in Nigeria is very high with a population forecast of 400m by 2050 according to reliable data from Worldometer.
Tackling poverty in the land and reducing the high rate of unemployment has only received low attention by the successive government based on historical trends. With a national database in place, enactment of specific, and targeted policies to improve the lives of its citizens and its economy can be easily achieved.
Recall, the Minister of Humanitarian Affairs, Disaster Management, and Social Development in Nigeria, Ms Sadiya Farouq, expressed recently that her Ministry was tasked with the responsibility to address some of the underlying causes, drivers, and consequences of humanitarian crises and underdevelopment including COVID-19 impact management in the country.
She said this included the management of the relatively high level of poverty nearly half (90 million) of the country’s 200 million population.
Further to this, the President of the country, Rtd General Muhammadu Buhari, directed the Humanitarian Affairs Ministry to also develop a strategy to maintain the school feeding social program during the lockdown.
These tasks have been difficult to achieve in Nigeria, especially with identifying and reaching out to the very vulnerable citizens amongst the over 200m populace.
One of the significant reasons has been due to the high variety of datasets and the lack of a reliable, verifiable, harmonized, and efficient national database.
In Nigeria, many government institutions and agencies generate populace personal data daily. This includes: (i). Federal Road Safety Commission (FRSC), responsible for drivers’ license and vehicle number plates; (ii). Independent National Electoral Commission (INEC), responsible for voters registration exercise; (iii). National Bureau of Statistics (NBS), responsible for the production of national official statistics; (iv). National Identity Management Commission (NIMC), which is responsible for the national identity database; (v). National Population Commission (NPC), in charge of national demographic data; (vi). Other organizations including the banks in the financial sector and telecommunication companies in the telecommunication sector such as MTN, 9mobile, Globacom, Airtel, etc.
Most of the data collected by these agencies are structured in nature but the big issue is that the data remain unharmonized with no centralized platform. Citizens are made to provide the same information at different times to different agencies causing lots of time wastages and duplications.
Though according to records, the existing Bank Verification Number (BVN) database in Nigeria has captured just about 25 per cent of the population, which are largely citizens with bank accounts, leaving a large chunk of the population who are unbanked.
Besides, only 42 million of the 200 million population are also captured in the country’s National Identity Database, the National Identity Management Commission (NIMC), according to the Director-General of NIMC, Aliyu Aziz.
The DG further asserts that the enrolment of people into the National identity Database, the commission was only able to successfully harmonize 14 million BVNs with National Identity Numbers (NIN) nationwide.
Consequently, a broader, consolidated, and harmonized national data management platform is necessary, which should be in line with the global best practice of data management devoid of any preference. Such a national database can also benefit from periodic reviews and research to guarantee relevance, reliability, and utility at any time.
Significant to note, most of the development and decisions in the world economies are data-driven, the pandemic has presented an opportunity to the public sectors in Africa and Nigeria, in particular, to embrace technology and data management system to aid national planning effectively.
With no enough infrastructures to manage the level of population growth in Africa, the infrastructures are likely to be overstretched without a reliable data-driven decision-making system, projections, and technological development.
The effect of the lack of this key decision-making tool is unimaginable, and the continued suffering of the majority of the population in Africa is likely to continue without it. Hence, with a good grasp of the relevant citizen data, demographics, and information, governments in Africa will be in an excellent position to drive a digital economy, achieve citizen engagements easily and also formulate enabling developmental policies that will improve e-govenance. They will also be able to measure the impact of these policies and also get aids when required from agencies like The World Bank (WB), The UK Department for International Development (DFID), The United States Agency for International Development (USAID), World Trade Organization (WTO), World Health Organization (WHO), International Monetary Fund (IMF), United Nation(UN) and its agencies among others.
The Nigerian government and other African governments need to consider the establishment of a specialized agency “Big Data Management Authority” saddled with the responsibility of implementing the framework discussed in this piece and much more. Good luck!
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Dr Timi Olubiyi is an Entrepreneurship and Small Business Management expert with a PhD in Business Administration. He is a prolific investment coach, business engineer, Chartered Member of the Chartered Institute for Securities & Investment (CISI), and a financial literacy specialist. He can be reached on the Twitter handle @drtimiolubiyi and via email: dr***********@***il.com, for any questions, reactions, and comments.
By Blaise Udunze
Daily, the world watches Nigeria through a familiar lens in what appears to be a gory situation. Especially in cases when the news headlines tell stories of farmer-herder clashes, bandit attacks, kidnappings, villages reduced to ashes or deserted by the dwellers, as thousands of Nigerians have been displaced across states such as Zamfara, Plateau, Benue, Niger, Kaduna and Nasarawa. Subliminally, this is about to become a similarly ugly occurrence in southwestern Nigeria, which is fast becoming obvious if not nipped in the bud quickly.
Recorded data have shown that bandits, Boko Haram, and others killed over 190,000 Nigerians in 17 years and displaced 3.7 million people.
A human rights organisation, the International Society for Civil Liberties and Rule of Law (Intersociety), in its fearful revelation, has said that no fewer than 190,150 Nigerians have been killed by bandits, Boko Haram insurgents, and suspected armed herdsmen between July 2009 and March 19, 2026, as this calls for concern.
The dominant explanations often point to ethnic tensions, religious divisions, climate change, shrinking grazing routes or weak security institutions. No doubt, those factors are certainly part of Nigeria’s complex security crisis. Yet another question deserves serious examination.
What if, in some locations, the violence is also serving another purpose? What if some of the territories experiencing repeated displacement are the same places sitting atop some of Nigeria’s most valuable mineral deposits? More importantly, if such a pattern exists, who benefits when communities disappear?
Of a truth, these questions are uncomfortable, but undeniably they deserve careful investigation rather than dismissal.
For ages, Nigeria has been naturally endowed, and it is estimated to be rich in enormous significant reserves of gold, lithium, uranium, tin, columbite and other strategic minerals increasingly sought after in the global transition to clean energy technologies. As international demand for battery minerals continues to rise, these resources have become far more valuable than they were only a decade ago.
If one overlays publicly available geological information with maps showing persistent violence, some observers argue that striking geographical overlaps appear in several regions. Such overlaps alone cannot establish causation. Correlation is not proof of conspiracy. However, they raise questions worthy of independent scrutiny.
One issue attracting increasing attention and adequately yearns for answer is whether prolonged insecurity may inadvertently or deliberately create conditions that make mineral extraction easier.
Under Nigeria’s Nigerian Minerals and Mining Act 2007, mineral resources belong to the Federal Government, while mining rights are granted through licences and leases. Community engagement and land access are expected to form part of the licensing process, although implementation varies depending on circumstances. This raises an important policy question.
What happens when the communities expected to participate in those processes have already fled because of violence?
Displacement changes the dynamics of land ownership, consent and access. While no evidence automatically proves that attacks are orchestrated to facilitate mining, the sequence of violence followed by renewed commercial activity in some locations deserves closer examination by regulators, lawmakers and investigative journalists.
In conflict studies, researchers have long observed that wars often generate economic winners alongside humanitarian losers. Could elements of Nigeria’s insecurity also be producing economic beneficiaries?
Reports over the years have documented concerns about illegal mining operations across parts of northern Nigeria. Government agencies themselves have repeatedly acknowledged that criminal networks profit from the country’s vast mineral wealth. The unresolved question is whether isolated criminality has, in some instances, evolved into more sophisticated alliances involving political influence, financial interests and international supply chains. If so, the implications extend far beyond Nigeria.
Invariably, it is clearly known that lithium has become one of the world’s most strategic commodities, powering electric vehicle batteries and renewable energy storage systems. Gold has always remained one of the safest global investment assets during periods of uncertainty. Meanwhile, it is well confirmed that the global appetite for these minerals creates enormous financial incentives.
Suppose violent displacement reduces resistance to extraction. Suppose shell companies subsequently acquire mining interests. Suppose minerals then leave Nigeria through legitimate-looking export documentation while their true value remains understated.
These scenarios remain allegations unless supported by verifiable evidence. Yet they outline a framework that investigators may wish to test rather than ignore. Financial crime experts frequently identify trade mis-invoicing as one of the most common methods of illicit financial flows worldwide.
Could Nigeria’s solid minerals sector be vulnerable to similar practices? If valuable lithium ore is deliberately but inaccurately described as lower-value material on export documents, substantial wealth could potentially leave the country without reflecting its true market value. Likewise, if unrefined gold exits through privileged channels with limited scrutiny, questions naturally arise about oversight, transparency and accountability over criminal activities which have continued to stunt and disrupt the country’s socio-economic growth and at the same time cause carnage.
Such possibilities are not accusations against any particular institution or company. Rather, they illustrate why stronger monitoring systems are increasingly essential. Another question concerns logistics.
With the high level of criminal activities, industrial mining requires heavy machinery, diesel supplies, transportation networks and specialised personnel. These are not operations that can remain invisible indefinitely.
If certain territories are genuinely too dangerous for security agencies, how do industrial-scale extraction activities reportedly continue in some remote locations? If they do, who protects those operations? Who authorises their movement? Who verifies what is extracted? Who ensures royalties and export revenues reach public coffers? These are governance questions that demand institutional answers.
Equally important is the international dimension. Minerals extracted in Nigeria ultimately enter global supply chains. Gold may pass through international refining hubs before entering financial markets. Lithium may become part of battery manufacturing destined for electric vehicles, which are being sold across Europe, North America and Asia.
One known fact is that consumers purchasing products containing these minerals rarely know the full story of where they originated.
Increasingly, however, investors and governments are demanding ethical sourcing standards that trace minerals from extraction to final manufacture.
A critical factor that must be taken into cognisance is that if insecurity is creating opportunities for illegal or unethical extraction anywhere in the world, multinational companies have responsibilities alongside national governments, of which the onus falls on the Nigerian government.
Transparency cannot stop at the mine gate. Nor should accountability end at national borders. Another issue requiring attention concerns beneficial ownership.
Across many jurisdictions, shell companies can obscure the identities of individuals ultimately controlling commercial assets. If politically exposed persons or powerful business interests are hidden behind complex corporate structures registered offshore, identifying beneficiaries becomes significantly more difficult. This challenge is hardly unique to Nigeria.
Findings showed that from Latin America to Central Africa and Southeast Asia, resistant corporate networks have frequently complicated efforts to combat corruption and illicit resource extraction. That is precisely why open corporate registries, beneficial ownership databases and transparent mining licence disclosures are becoming global governance priorities. For Nigeria, the stakes could hardly be higher.
The country stands at the centre of the world’s emerging critical minerals economy. The Nigerian government can’t feign ignorance of the fact that, when handled transparently, these resources could finance infrastructure, education, healthcare, and industrial development for generations.
In no way would the government claim not knowing that when handled poorly, they risk becoming another chapter in the well-documented “resource curse,” where extraordinary natural wealth coincides with persistent poverty, insecurity and institutional weakness.
The ultimate challenge, therefore, is not simply about mining. It is about governance. It is about whether public institutions possess both the independence and capacity to ensure that natural resources benefit citizens rather than narrow interests. It is about whether conflict zones receive genuine peacebuilding efforts instead of becoming forgotten frontiers. And it is about whether international markets demand accountability with the same enthusiasm they demand raw materials.
None of these questions should be answered through speculation. They require rigorous investigations, forensic financial analysis, satellite imagery, mining license audits, customs records, beneficial ownership disclosures and courageous journalism.
They require governments willing to open their books. They require international cooperation capable of tracing money across borders. Most importantly, they require asking questions that have too often remained unasked.
Perhaps Nigeria’s security crisis is exactly what it appears to be: a tragic convergence of historical grievances, weak institutions, criminality and environmental pressures. Or perhaps, in some places, another layer of economic incentive deserves closer scrutiny.
Until those questions are thoroughly investigated, one possibility will continue to linger. Maybe the world’s attention has been fixed on the blood spilt above ground, while too little attention has been paid to the extraordinary wealth lying beneath it.
Blaise, a journalist and PR professional, writes from Lagos and can be reached via: bl***********@***il.com
Feature/OPED
What Does Nigeria’s $51bn Reserves Milestone Mean if Most New Foreign Money Can Leave Quickly?
Nigeria’s foreign reserves have climbed to about $51 billion, a decade-plus high, according to the Central Bank of Nigeria (CBN). EBC Financial Group (EBC) notes that this reflects stronger investor confidence, but the second half may show whether it holds, as the build rests on three cyclical drivers: oil earnings, short-term foreign money and a narrowing official-to-street naira gap.
Reserves rose from about $32 billion in April 2024, during a dollar shortage, to about $51 billion now, near the CBN’s target. Much came from two cyclical sources, strong oil earnings and money chasing high-yielding naira assets, so EBC expects the pace to slow or reverse. Fitch Ratings, a major international credit rating agency, expects a marginal decline to about $47 billion by the end of 2026, citing higher spending and external pressures.
David Precious, Senior Market Analyst at EBC Financial Group, said, “Nigeria’s reserve build is real but may not be durable yet, because nearly all of the new money is the kind that can leave quickly. Of the $10.37 billion that came in over the first quarter, the overwhelming majority was short-term portfolio funds rather than long-term investment, so a shift in oil prices, global interest rates or confidence in the naira might pull a large part of it straight back out.”
Most New Money Can Still Leave Quickly
The composition of the foreign inflows explains the caution over how long the build can last. The country attracted $10.37 billion in foreign investment in the first quarter of 2026, up 83.83 per cent year-on-year, according to the National Bureau of Statistics (NBS). Of that, $9.86 billion or 95.09 per cent, was portfolio money, largely short-term naira debt such as Treasury bills that investors can sell at the next auction, while foreign direct investment, the long-term kind that builds factories and jobs, was $135.08 million, or 1.30 per cent. Put simply, of each dollar coming in, about 95 cents can leave quickly, and barely one cent stays.
That money supports reserves while it stays. Dollars brought in to buy naira assets add to market supply, letting the CBN hold more reserves and steady the naira. It leaves when conditions change. Nigeria earns most of its export dollars from oil and gas, so lower oil prices mean fewer dollars, and as a member of the Organisation of the Petroleum Exporting Countries (OPEC), it cannot simply produce more, output capped by quota and reduced by theft and ageing fields. Higher global interest rates draw money toward safer returns abroad, and a weakening naira prompts investors to sell early. When oil fell in 2016 and 2020, foreign investors withdrew and could not convert naira to dollars as supply dried up, leaving the CBN to clear more than $7 billion in trapped obligations into 2024.
The Oil Boost is No Longer Certain
Oil looked like a dependable source of the dollars behind the reserves only months ago. Earlier in 2026, concern over disruption around the Strait of Hormuz lifted crude prices, and stronger receipts flowed in, with crude oil export earnings of $8.11 billion in the first quarter in the CBN’s balance-of-payments data. That support is now easing. The tension has subsided, and Brent traded near $72 on June 29, down about 24 per cent over the month, back to pre-conflict levels. With the price boost gone and output constrained, reserves are more exposed, leaning on non-oil earnings and investor patience rather than oil.
The Naira Still Trades at Two Prices
The naira has traded at two prices, an official rate and a higher parallel-market rate, and closing that gap into one trusted price is what many investors might watch most. Before committing funds, they may want assurance they can convert naira to dollars at a fair rate when they exit, and a wide gap revives the fear of being trapped that lingers from earlier shortages. The gap has narrowed to roughly N20 to N30, with the CBN’s official rate near N1,380 per dollar on June 26 against parallel-market quotes around N1,400. The International Monetary Fund (IMF) 2026 Article IV review urged Nigeria to depend less on this fast-moving portfolio money and to keep phasing out its multiple exchange-rate practices. The CBN’s Foreign Exchange Manual, in force from 1 June, is intended to make the market clearer, though such rules build confidence only once investors can freely trade dollars at the posted rate.
What could Make the Build Durable
A few signs that may show the build turning durable include a smaller gap between the official and street naira rates, more long-term foreign investment, and steadier oil earnings. A gap that stays small, now roughly N20 to N30, may mean investors trust the official rate and no longer need the street market. A clear rise in foreign direct investment, only $135 million last quarter against $9.86 billion of short-term money, might mean lasting capital is replacing funds that can leave at the next auction. Oil earnings that hold up, rather than sliding from the low $70s, should help keep reserves steady, since oil and gas bring in most of Nigeria’s export dollars.
“Reserves built on money chasing high yields can fall as fast as they rose, as they did after the last two oil shocks, when investors left, and the CBN spent years clearing a foreign-exchange backlog,” Precious added. “What holds through a downturn is slower money, direct investment, steady oil and non-oil export earnings and one credible naira rate, and that is the shift Nigeria has yet to make.”
By Olajumoke Bello
Across Nigeria, small and medium enterprises remain the backbone of economic activity. They drive trade, create jobs, and sustain millions of livelihoods. Yet, despite their importance, many SMEs continue to operate below their full potential due to persistent structural challenges.
Access to finance remains one of the most cited constraints. However, the issue today goes beyond the availability of capital. Many businesses struggle with financial readiness, weak documentation, and limited understanding of what lenders require. This often leads to missed opportunities, even when funding options exist.
At the same time, SMEs face gaps in market access and visibility. Business owners operate in highly localised environments, with limited exposure to broader networks that can unlock partnerships, new markets, and growth opportunities. This isolation can constrain scalability and reduce long-term competitiveness.
Equally important is the capability gap. Many entrepreneurs grow through resilience and experience but lack structured knowledge on critical areas such as financial management, export readiness, and digital adoption. Without this, even well-capitalised businesses can struggle to sustain growth.
These challenges point to a clear need for a more practical and integrated approach to SME support. It is no longer sufficient to offer standalone solutions. SMEs require ecosystems that combine knowledge, access, and direct engagement in ways that reflect how they actually operate.
A key shift is the move from centralised interventions to localised engagement. SMEs are deeply influenced by their immediate environments, whether markets, industrial clusters, or trade corridors. Solutions must therefore be brought closer to where these businesses function, allowing for more relevant support and stronger relationships.
Another important shift is from awareness to action. Business owners do not only need information; they need insights that they can apply immediately. This includes understanding how to structure their finances, how to access trade opportunities, and how to connect with the right partners to scale their operations.
There is also a growing need for continuity. Many SME-focused initiatives deliver strong initial impact but lack follow-through. For support to be effective, it must extend beyond one-off engagements into sustained relationships, with clear pathways for onboarding, advisory, and growth.
For financial institutions, this presents both responsibility and an opportunity. Supporting SMEs now requires moving beyond transactional banking to deeper partnership models. It requires understanding businesses at a granular level and co-creating solutions that evolve with their needs.
At Stanbic IBTC, this perspective continues to shape our approach to SME development. Our focus is on delivering practical support that translates into real business outcomes, helping enterprises grow, compete, and contribute more meaningfully to the economy.
As part of this commitment, we are extending our SME engagement to the regions through the Nigeria Business Summit Regional Tour. The tour will take structured, on-ground activations into key commercial hubs, where SMEs can access funding guidance, trade insights, advisory support, and direct engagement with financial experts.
The regional tour will take place across five strategic locations, bringing these solutions closer to business owners in Aba, Onitsha, Ibadan and Kano.
This approach reflects an important principle. When support moves closer to businesses and when solutions are delivered in ways that are practical and continuous, SMEs are better positioned to grow sustainably. In turn, this strengthens not only individual enterprises but the broader economy.
Olajumoke Bello is the Head of Enterprise Banking at Stanbic IBTC Bank
