General
Things to Know Before Establishing Photography Business
By Adedapo Adesanya
Starting a photography business is a risky but it is a very profitable venture. However, it is very important to understand some of the key things before deciding what you want or how you want the business to be structured.
Like any business, the practitioner must have a deep interest for the profession. An inherent interest in the creative process of taking photographs will help in the overall success of the business.
In this part of the world, photography is mostly learned through apprenticeship by gaining experience from an established professional to know the rudiments of the game. After completion of the informal training, the next step is always to set up a studio, which involves capital.
Capital is the money used to start the business. In this case, the funds to get the necessary equipment would be put into consideration when planning to establish a photo studio.
Other fixed costs to consider would include rent (if the photographer chooses to get a studio) and other miscellaneous items. According to some practitioners who spoke with Business Post during a research into this topic, a new photographer who wants a standard studio can start with a budget of N3.5 million. However, you can start with a lower budget of about N500,000 to N1 million, depending on the tools and cost of rent.
Now the breakdown of this budget
Equipment and Estimated Costs
Photography is an expensive business because it involves a lot of technological hardware and software which are costly. Equipment comes in two varieties; hardware (physical) and software. Some of the major hardware components need in photography are:
Two cameras: From N150,000 to N1.5 million or more.
Multiple lenses: Prices range from N40,000 to N350,000.
Two flashes: N15,000 to N100,000 each.
Multiple memory cards: From N2,000 to N15,000 each
Two external hard drives: From N10,000 to N45,000 or more, depending on the size (it is advisable to keep one backup off-site)
Computer or laptop with sufficient memory: From N75,000 to N720,000, depending on the type, size, quality and make.
A studio: The cost of renting a place for studio solely depends on location and the size. The studio has to be painted to make it attractive to customers. Also, the necessary lightening tools have to be put in place like the LED lights & Strobes, tripod stand, wireless triggers, props, prime lenses, zoom lenses, Photoflex reflector.
For the Software: This includes Adobe Lightroom, Adobe Photoshop, Corel Paintshop, PortraitPro, GIMP amongst others.
Note: These are not all software for photography and are subject to the preference and versatility of the photographer. They can be purchased from computer stores.
Some Business Opportunities in Photography
Photographers can find employment in a number of places. Either as a self-employed individual or an organisation attachment. The creative outlet is needed mostly in every human endeavour, including at
Ceremonies: weddings, anniversaries, and celebrations.
Stock photography.
Contract photography.
Commercial photography.
Media photography.
Celebrity photography/Paparazzi.
Possible Challenges to face in the Photography Business:
Like a host of other businesses, here are likely challenges that a would-be photographer could face:
Funds – This is regarded as the biggest challenge to the business of photography, new models of equipment are released regularly and with this comes a high cost. With a constant supply of income, a photography business will thrive.
Clients – Photography is a competitive business. Finding clients to patronise the establishment may be a challenge. Even when the photographer finds one, some are likely not to pay for services offered.
Competition – There are a lot of photographers. It is then crucial to build a network of people which services are rendered effectively and efficiently.
Infrastructure Deficiency – Electricity, among other basic infrastructural necessities, is sometimes lacking and this poses a great challenged to a digitally driven business such as photography.
Finally, it is advisable for the photographer to register the business. This is done by the Corporate Affairs Commission (CAC) in Nigeria. Whether it is a remote or established business, it is very important. This allows the business open a bank account and file tax returns plus other benefits.
There are some persons in Nigeria who have become icon in the photography business, including TY Bello (former President Goodluck Jonathan photographer), Kelechi Amadi-Obi, Bayo Omoboriowo (President Muhammadu Buhari photographer), amongst others.
By Modupe Gbadeyanka
President Bola Tinubu on Thursday directed the Economic and Financial Crimes Commission (EFCC) to vacate the court ordering the freezing of the bank account of the Osun Srate government.
In a statement today by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the President said he’s “deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order” because of its timing, which is just a few days to the governorship election in the state next Saturday.
According to him, actions of an institution of State, especially at the Federal level, is always credited to me, as the President, even when I may not have had any prior knowledge of the action.
“Since assuming office, I have consistently maintained that anti-corruption and law enforcement agencies must be allowed to discharge their statutory responsibilities independently, professionally, without fear or favour, or political interference. I have therefore deliberately refrained from directing or interfering in the operational activities of the EFCC or any other investigative or prosecutorial agency because I firmly believe that strong democratic institutions, operating within the confines of the law, are indispensable to democratic good governance and the rule of law.
“As President, I am committed to allowing institutions of State to function and take any action they consider necessary in the interest of proper governance without the need for any prior approval. Indeed, that is why institutions are set up by law with clearly defined powers. While I am yet to be fully apprised of the facts which informed the action of EFCC in approaching the court to obtain the said order freezing the Osun State Government account, I am not in the slightest doubt that the timing of the action of EFCC is inauspicious, and therefore I feel compelled to intervene.
“Osun State is only a few days away from its gubernatorial election. Therefore, nothing ought to be done to give an impression that the EFCC or indeed any other agency of the federal government is being used to interfere with the election.
“Based on the foregoing premise, I am duty-bound to issue a directive on this issue in consonance with the overriding public interest in preserving public confidence and the integrity, credibility, and fairness of our democratic process.
“Accordingly, I have directed the EFCC to immediately proceed to the court to vacate the order and discontinue whatever action it has instituted against the Osun State Government in this regard,” the statement stated.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
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