Connect with us

General

Taking Nigerian Small Businesses to Paradise

Published

on

Why Small Businesses Fail

In the last 40 years, small business owners and entrepreneurs have been receiving greater recognition as drivers of economic growth all over the word. It has become a given that, to achieve long-term economic growth and prosperity, participation from entrepreneurs is very important.  Small businesses have contributed to job creation, economic growth and poverty reduction.

As we have seen in Nigeria in the last two decades, entrepreneurship is a driving force within the economy because of entrepreneurs’ innovative nature, among other factors. In developed economies, corporations and large capital significantly determine the extent of scientific, technical and production potential.

In third world countries with a market economy system, small enterprises are the most common, dynamic and flexible form of business life. In Nigeria, they contribute in stabilising the political climate. Yet not every small business will flourish

Why Small Businesses Fail in Nigeria, a seven-chapter book written by Ayodele Ajayi, provides sufficient facts why entrepreneurs in the country pack up after a while. In knowing the hidden pitfalls, as outlined by the author, the writer creates a veritable platform for small businesses to reinvent themselves and blossom.

Ajayi educates all that there is a probabilistic indicator to show that not all businesses in Nigeria surpass their first anniversary. This sounds like a spoiler alert, but the author links this to the inability to overcome teething problems and other avoidable mistakes.

Talking from experience, Ajayi, whose entrepreneurial journey has been like a yo-yo experience, says his substantial investment and unwavering effort in the paint business didn’t yield the much-expected dividends when he set out. Why Small Businesses Fall in Nigeria, therefore, seeks to empower the reader and the entrepreneur with a weapon to navigate the intricacies of Nigeria’s business environment. It is also beneficial for big businesses.

In the first chapter, Ajayi paints a realistic picture of Nigerian entrepreneurship beyond the hype on some success stories. “When considering starting a small business, one of the first decisions you must make is whether to operate online, offline, or a combination of both,” writes Ajayi.

He points out that the reality of entrepreneurship is far less glamorous than many anticipate, part of which includes supporting the lives of team members and other partners involved in the business. He recommends that, before setting out, you must study the business environment of the country, because the reality of doing business in Nigeria differs with many factors he outlined in the book (read the book).

Part of the reasons for business failures include inappropriate location, hence: “A solution to that problem may be to change the location to a more strategic area with a higher demand for the business’s products or services. The structure of the business can also make or mar it.” Another reason is faulty operation. Ajayi stresses the importance of learning from others, for nobody knows it all.

The author zeroes in on the pitfalls that crumble businesses in Nigeria. Understanding and answering the purpose of your business, he says, will help the entrepreneur navigate and avoid the landmine. Expertise is also important. The author makes a case for implementing effective corporate governance.

Explaining in detail the common reasons for small business failures in Nigeria, the author highlights inadequate market research, poor management of business resources, poor cash flow management, wrong expansion, poor marketing and sales skills.

Offering practical steps to follow to navigate these pitfalls, the author advises business owners to be disciplined, detach themselves from the businesses, plan and execute well, learn continuously, build a strong network and stay financially savvy. He encourages entrepreneurs to guide against having a single product or service in Nigeria, develop excellent customer service, and adapt to market trends. Unlike Easy Taxi that crumbled in Nigeria, the author cites Mega Chicken as one that has successfully stood out in a competitive food market.

The fourth chapter of the book emphasises on financial management.  “Financial management is a necessary skill for every business, because it deals with how you account for your money,” says the author. who goes on to furnish us with basic financial concepts that relate to small business in Nigeria.

These include budgeting, cash flow management, investment management, debt management, financial planning, risk management, bookkeeping. The book furnishes the reader with strategies for securing funding and managing debts effectively. It arms us with the right resources for maintaining financial support, literacy and mentorship in Nigeria.

Ajayi, in the fifth chapter, teaches the power of marketing and sales. This is very important. You may have a good product yet it is not selling. Like he has done throughout the book, he offers practical steps for creating a customer-centric approach and building brand loyalty, including but not limited to personal service, reward system and getting feedback from customers.

The concluding part of the book x-rays the demands of leadership. Without reading this book, you may not appreciate the gems in the publication. I recommend this book to not only businessmen anywhere in the world but those aspiring to have multiple streams of income in Nigeria.

General

Be Watchful of Economic Hardship in 2026–Primate Ayodele Tasks FG

Published

on

Primate Ayodele 2026 prophecies

By Adedapo Adesanya

Popular Nigerian prophet and founder of INRI Evangelical Spiritual Church Lagos, Primate Elijah Ayodele, has called on the Nigerian government to be careful and watchful of economic hardship in the new year.

He made this warning and others at his End of the Year 2025 Press Conference, where he gave prophecies for Nigeria and the world.

According to the man of God, the government will do its utmost best to stabilize things but the balancing will be very difficult.

“The country will face so many political upheaval that will frustrate the efforts of the government in all fronts. I foresee the government in the process will take a lot of wrong steps. There will be wrong pieces of advice,” he said.

“The Lord revealed to me that the efforts of the President will be frustrated with wrong pieces of advice. These are the words of the Lord,” he added.

Primate Ayodele noted that “The spirit of God says in the year 2026, the President must be watchful for what is tagged political nemesis in the country. He needs fervent prayers in this regard.”

He warned President Bola Tinubu to be wary of several advices from different quarters, noting that Nigeria’s opposition groups will frustrate all his efforts unless he is able to take decisive steps to scuttle and scatter the plans, particularly that of the African Democratic Congress (ADC).

“I foresee the ADC members are ready to fight in order to wrestle for the political control of the country from the ruling APC. The main obstacle will be if the ADC is fielding a weak candidate. The ADC will want to use all the apparatus at its command to achieve what they want to do in order to achieve victory at the polls.”

On the 2027 polls, he said the ruling All Progressives Congress (APC) would do everything possible to make sure they use the Independent National Electoral Commission (INEC) and other things within their powers to secure victory.

“The ADC as a political party must watch carefully the unfolding drama. I foresee that all areas where the ADC can have an upper hand during polls will be blocked.”

The prophet as part of his prophecies also foresaw the crude oil from the Nigeria not being of quality grades expected in the international oil and gas market in the next 20 years from now.

On the tax reforms due to start in the new year, Primate Ayodele said this would cause misconceptions and the government needs to explain.

“I foresee our budget will not be properly implemented. They will use budget to fight inflation and hunger yet Tinubu will still borrow surplus money. People will be frustrated,” he said in the prophecies.

Continue Reading

General

QNET’s Global Reach in 100+ Countries: What International Access Means for Local Distributors

Published

on

QNET

Global scale means market access and international supply chains. For individual distributors in direct selling, it can shape everything from product availability to income stability and long-term opportunity.

QNET, the multinational wellness and lifestyle direct selling company, positions its business model around that idea: connecting locally based independent distributors to an international operating platform. With activity spanning more than 100 countries, the company sits within a direct selling industry that, according to the World Federation of Direct Selling Associations (WFDSA), has stabilized after several relatively volatile post-pandemic years.

Global Reach Within a Stabilizing Industry

The WFDSA’s latest global report estimates worldwide direct selling retail sales at roughly $163.9 billion in 2024, essentially flat year over year. That flat performance, however, masks gradual improvement beneath the surface. Nearly half of reporting markets showed growth in 2024, and average market growth rates rebounded to positive territory.

The report estimates more than 104 million independent sales representatives globally in 2024, a figure that has remained largely stable year over year.

This stabilization sets a backdrop for companies like QNET. A global footprint is no longer about rapid expansion alone; it is increasingly tied to resilience: operating across regions with different economic cycles, consumer behaviors, and growth trajectories.

For distributors, this matters because opportunities extend beyond individual effort. They are often shaped by the health of the company’s broader channel and product reach.

A Platform Designed for Distributed Entrepreneurship

QNET’s model centers on local execution supported by centralized infrastructure. Products—ranging from nutritional supplements and wellness devices to home and lifestyle solutions—are sold through the company’s proprietary e-commerce platform. Independent distributors do not manage warehouses, shipment logistics, or customer service systems.

As Ramya Chandrasekaran, who heads communications at QNET, explained in a recent interview, the company views direct selling as a form of accessible “micro-entrepreneurship.” The idea is to reduce the operational burden typically associated with starting a business, allowing distributors to focus on product education, customer relationships, and market development.

Why Global Scale Changes the Distributor Equation

One practical benefit of international reach is product continuity. WFDSA data shows that wellness products account for roughly 29% of global direct selling sales, making it the largest category worldwide. In the Asia-Pacific region, the largest direct selling region by sales, wellness represents more than 40% of total category share.

QNET’s emphasis on wellness and lifestyle products places distributors in line with the strongest demand segments globally. Instead of relying on narrow local trends, distributors operate within product categories that have shown consistent global interest.

International scale also supports consistency in training, compensation structures, and digital tools. Distributors in different countries access identical back-end systems, tracking referrals, commissions, and orders through the same platform. This standardization reduces friction and uncertainty, particularly for individuals operating in markets where informal commerce is common.

Workforce Shifts

The WFDSA’s report highlights notable shifts in the global direct selling workforce. Women continue to make up more than 70% of participants worldwide, and representation among individuals aged 35 to 54 remains the largest cohort.

Independent Distributors increasingly value flexibility, long-term viability, and support systems that allow them to operate sustainably rather than aggressively scale. QNET’s emphasis on digital access, centralized operations, and gradual business building reflects those priorities.

For many participants, especially those balancing work with caregiving or other responsibilities, direct selling infrastructure offers a way to stay engaged at their own pace.

Training, Exposure, and Cross-Market Learning

QNET’s international conventions and training programs connect distributors across regions, creating informal networks for peer learning. Events that draw participants from dozens of countries expose distributors to varied approaches to sales, customer engagement, and market adaptation.

This mirrors one of WFDSA’s broader conclusions: direct selling increasingly functions as a global learning ecosystem, with companies providing tools and education that help individuals navigate uncertain economic conditions.

For distributors, exposure to cross-border experiences can recalibrate expectations, reinforcing that success often comes from steady engagement rather than rapid recruitment or short-term activity.

International Access, Interpreted Locally

Despite its global scale, QNET’s business ultimately plays out in local communities. Distributors adapt messaging around wellness, home quality, and lifestyle enhancement to cultural norms and household priorities. The international platform provides reach and structure, but relevance is built locally.

That balance, global systems supporting local relationships, defines much of modern direct selling. The WFDSA describes the industry not as a single growth story, but as a framework that can scale proportionally with economic conditions across regions.

For QNET distributors, international presence does not guarantee income or uniform outcomes. What it offers is access: to resilient product categories, standardized systems, training resources, and a global marketplace that extends beyond any single region. For local distributors navigating today’s uncertain global economic environment, that is an important foundation to maintain.

Continue Reading

General

FCCPC Unseals Ikeja Electric Headquarters

Published

on

Ikeja Electric

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has unsealed the headquarters of Ikeja Electric Plc in the Lagos State capital after a week under lock and key.

According to a statement on Friday, the electricity distribution company committed to a binding undertaking to comply with the remedial process following consumer rights violations.

The statement signed by Mr Ondaje Ijagwu, Director of Corporate Affairs at the commission, Ikeja Electric undertook to resolve all consumer complaints referred to it by the FCCPC within agreed timelines

The headquarters was earlier sealed on December 11, 2025, because Ikeja Electric allegedly failed to comply with a directive by the Nigerian Electricity Regulatory Commission (NERC) to unbundle a Maximum Demand account into 20 individual accounts for a customer who had been without power for over two and half years.

The FCCPC noted that following the resolution, any breach of the undertaking would expose it to renewed and escalated enforcement action under the Federal Competition and Consumer Protection Act.

Reacting, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said the Commission’s intervention was necessary to enforce the provisions of the FCCPA (2018).

“Our responsibility is to ensure that consumers are treated fairly and that service providers comply with lawful decisions and directives. Enforcement is not an end in itself. Where compliance is achieved and credible commitments are made, the Commission will respond appropriately,” he said.

Clarifying further, Mr Bello said the outcome reflects the commission’s balanced approach to regulation.

“We intervene decisively where consumer harm persists, and we de-escalate where enforceable compliance is secured. What remains constant is our duty to protect consumers and uphold regulatory accountability,” he said.

Continue Reading

Trending