General
StarNews, GBEF Launch Competition to Expose Nigerian SMEs to US Opportunities
By Adedapo Adesanya
African video streaming platform, StarNews Mobile and the Global Black Economic Forum (GBEF) have announced a call for applications for the launch of their Business Competition in Lagos, Nigeria which seeks to empower Nigeria’s most promising businesses that are classified as Small-Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the United States.
The competition held in partnership with MTN and the United Nations Agency for International Development (USAID), will offer a platform for emerging entrepreneurs to showcase their ventures and gain national visibility over 10 weeks between April 8 to June 14, 2024.
It will be hosted exclusively on the StarNews Biz Channel on the StarNews platform with subscribers voting for their favourite candidates. The top 20 contestants will seize the spotlight and make their mark on the business landscape.
Over 80 per cent of Nigerian startups are incorporated in the US, according to the US Embassy and Consulate for Nigeria, and accounts for more than 60 per cent of venture capital funding in Nigerian startups. In 2023 alone, Nigerian startups raised a total of $398 million however, this signalled a 66 per cent funding decline compared to 2022 due to the global economic downturn, reinforcing the massive need for a fresh injection of capital and business support for Nigeria’s emerging SMEs.
The StarNews Business Competition in partnership with GBEF delivers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.
With the prospect of securing cash prizes through StarNews worth up to NGN5,000,000, getting access to StarNews’s network of investors and the opportunity to gain national visibility by having their business on the StarNews web platform.
The top three winners will also receive coaching from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora.
Previous speakers at GBEF convenings from the entertainment sector include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET) and Ceci Kurzman (Founder of Nexus Management Group). Applications will close on April 5, 2024.
Speaking on the competition’s launch, Mr Guy Kamgaing, Founder and CEO at StarNews Mobile, says “The StarNews Business Competition is a passion project close to our hearts at StarNews Mobile. It’s about discovering the most promising business entrepreneurs and creators in Nigeria, opening up global opportunities for them and providing them with the resources and tools to achieve their goals. By partnering with MTN, USAID and GBEF, we want to be a platform of empowerment for these SMEs by helping them give back to the communities that are supporting them.”
Adding his input, Mr Alphonso David, President and CEO of the Global Black Economic Forum notes that, “Our partnership with StarNews Mobile is a critical resource as we continue to build the collective strength of entrepreneurship across the Diaspora. Building a sustainable ecosystem of Black entrepreneurs in the United States and across the African continent is essential to create a future that makes economic opportunity and economic freedom a reality for all.”
A sister company to ESSENCE, GBEF advances its work by convening global summits and conferences, bringing together world leaders, business leaders, entrepreneurs, celebrities and civic leaders to address our communities’ most challenging problems. GBEF’s Academy for Advancing Excellence facilitates workforce and leadership development strategy, addressing the talent pipeline & employee lifecycle, providing leadership development & coaching, and conducting institutional assessments & research.
“GBEF also develops and implements economic and social justice policy recommendations with partners ranging from civil and human rights organisations to government entities and corporations that advocate for economic opportunity, social justice, and health equity through thought leadership, advocacy and litigation.
Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators. With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.
To date, StarNews Mobile has secured over $8mn in funding with its most recent raise – a $3 million pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé, and Mike Maignan.
General
ANLCA Airport Chapter Scores Salamatu High on Stakeholder Engagement, Trade Facilitation
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
General
FG Declares Holidays for Christmas, New Year Celebrations
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
General
Dangote Refinery Warns Against Artificial Petrol Scarcity
By Modupe Gbadeyanka
Local crude oil refiner, Dangote Petroleum Refinery, has kicked against attempts to put consumers of premium motor spirit (PMS), otherwise known as petrol, under untold hardship in the country.
The company, which commenced nationwide sales of the product at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations, appealed to Nigerians to report any of its marketers who sell above this price.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable.
“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the Lagos-based refinery said in a statement.
It noted that the significant price reduction was part of its mission to deliver affordable fuel to consumers and stabilize the downstream petroleum market.
With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.
Dangote Refinery applauded marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market,” it added, reaffirming its commitment to steady supply, price moderation, and energy security, emphasizing that its operations are anchored on long-term national interest rather than short-term market pressures.
“Our objective remains clear: to ensure consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery concluded.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn












