General
Taking Nigerian Small Businesses to Paradise
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
Anambra Moves to Curb Erosion Menace
By Adedapo Adesanya
Anambra State Executive Council (ANSEC), under Governor Charles Soludo, has taken a bold step to address the pressing issue of erosion in the state, while also recovering government lands and awarding strategic projects aimed at boosting the state’s economy and improving the quality of life of its citizens.
The Commissioner for Information, Mr Law Mefor, made this known after the 25th ANSEC meeting held recently at the Lighthouse, Awka.
He revealed that the meeting noted with grave concern the existential threat posed by erosion in Anambra, citing the careless actions of communities and regulatory bodies that have disregarded environmental regulations.
“The council has decided to step up enforcement measures to force individuals to build and manage storm waters from their houses and for communities to follow specific guidelines, such as building erosion barriers and excavating sand only in designated locations,” Mr Mefor stated.
He emphasised that the government will not hesitate to take stern action against individuals and communities that fail to comply with environmental regulations.
To address the issue, the government will enforce strict adherence to environmental regulations, mandate the construction of erosion barriers and proper sand excavation practices, and collaborate with relevant agencies to hold those responsible for the erosion menace.
It is also confident that with the support of the people, it will overcome the challenges posed by erosion and achieve its vision of making Anambra State a destination where economic and business activities thrive.
Furthermore, the council has resolved to form a committee to reclaim government lands in and around Anambra State that have been intruded upon and built upon without permission.
“The government will not stand idly by while its lands are being grabbed and misused. We will take all necessary steps to recover these lands and ensure that they are used for the benefit of the people of Anambra State,” Mr Mefor said.
ANSEC has also awarded several strategic projects aimed at enhancing the state’s infrastructure development.
The projects include the provision of a water supply to the Ekwulobia Flyover Bridge Fountain and the ornamental garden for Double NC Construction & Logistics Ltd; the installation of a 3-way traffic light, including pedestrian lights, at the Ifite-Amenyi intersection within the Awka metropolis to S.N.U. Ventures, and the supply and installation of two 10 kVA inverters with 15 kW lithium batteries at the Anambra State Civil Service Commission Building in Awka to Kennolly Enterprises.
Others include the supply and installation of transformer substations at Nnewi and Umueze-Anam communities for Aries and Gold Ventures Limited, and Aljovic Construction Limited; and the landscaping of the car park for the Trauma Centre at Chukwuemeka Odumegwu Ojukwu University Teaching Hospital (COOUTH), Amaku, Awka, for Triseconds Resources Limited.
General
Dangote Refinery Commences Free Delivery of PMS January 2026
By Modupe Gbadeyanka
The free delivery of premium motor spirit (PMS), otherwise known as petrol, across the country by the Dangote Petroleum Refinery will finally begin in January 2026. This was earlier scheduled for August 2025
This move, according to the Independent Petroleum Marketers Association of Nigeria (IPMAN), will bring down the price of the product in Nigeria.
The group has, therefore, urged all its members nationwide to patronise the Lagos-based private oil facility because it offers the best affordable price for all marketers.
Dangote Refinery has agreed to directly supply PMS to registered members of IPMAN, according to a statement signed and issued by the organisation’s president, Mr Abubakar Maigandi Shettima.
At a press conference held in Abuja yesterday on recent happenings in the oil and gas sector, IPMAN also applauded the support of the Chairman of Dangote Petroleum Refinery, Mr Aliko Dangote towards the federal government, which it noted has become evident in the regular reduction of the petroleum pump price.
“The association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80 per cent of the petrol retail market. We therefore declare that there will be no gap or scarcity in PMS supply to Nigerians.
“We are also excited at the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria which will commence in January 2026.
“This will again, certainly lead to further decrease in the pump price of the products at our filing stations.
“Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable prize for all marketers today,” the group stated.
“At IPMAN we have no doubt as to the viability of the oil and gas policies being initiated by the federal government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence, our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products.
“The focus of the Dangote & IPMAN partnership, has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.
“Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model, because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away,” Mr Shettima was quoted as saying in the statement.
General
Swedfund Puts Down $20m for Green Business Growth in Africa
By Aduragbemi Omiyale
About $20 million has been put down by Swedfund to support efforts that limit climate change in Africa and help communities adapt to its effects.
The funds would be deployed by the Helios Climate, Energy, Adaptation and Resilience (CLEAR) Fund to back African companies that reduce emissions, strengthen resilience and create green jobs.
Swedfund’s investment is expected to contribute to significant cuts in greenhouse gas emissions and to help businesses and small farmers adapt to a changing climate.
The investment strengthens Swedfund’s work to drive a sustainable and inclusive green transition in Africa.
Africa contributes less than 3 per cent of global carbon emissions but faces some of the most severe climate impacts. At the same time, the continent’s energy demand is expected to triple by 2050.
Swedfund’s investment in Helios CLEAR will help channel capital to businesses that drive low-carbon growth in areas such as renewable energy, sustainable transport, climate-smart farming, efficient use of resources and digital climate solutions.
“By investing in this sector, we can reduce emissions, build resilience and create green jobs, all vital for sustainable growth that benefits more people.
“Africa currently receives only a small share of global climate investment, yet the potential for climate-smart business is enormous.
“Through Helios CLEAR we help build the next generation of African climate-focused businesses,” the Investment Director for Energy and Climate at Swedfund, Ms Gunilla Nilsson, stated.
Helios CLEAR Fund is a Pan African growth equity fund managed by Helios Investment Partners, one of Africa’s leading private equity firms.
The fund targets investments that deliver measurable climate mitigation and adaptation outcomes. The fund is supported by multiple development finance institutions.
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