Enterprises Prioritize Revenue Growth and Cybersecurity in Digital Transformation, GSMA Intelligence Finds
A new report from GSMA Intelligence reveals that enterprises are increasingly prioritizing revenue growth and cybersecurity as key objectives within their digital transformation strategies. The research, titled "The Rise of Digital Industries: Navigating Enterprise Needs, Investments, and Supplier Decisions," found that 60% of businesses now focus on enhancing customer experience, improving competitive positioning, and driving revenue growth, shifting away from...
Nigeria’s GDP Rebase Expected to Boost Services Sector Contribution
The Nigerian economy is set to undergo a significant re-evaluation with the impending release of a revised Gross Domestic Product (GDP) data. This exercise, expected to be completed in 2025, is anticipated to significantly increase the contribution of the services sector to the overall economy. According to projections by Meristem Securities, the services sector's share of the rebased GDP is...
Nigerian Banks Navigate Recapitalization and Regulatory Scrutiny Amidst Economic Headwinds
The Nigerian banking sector experienced a period of significant transformation in 2024, navigating a challenging landscape marked by rising interest rates, economic uncertainty, and increased regulatory scrutiny. The year began with a major announcement: the Central Bank of Nigeria (CBN) mandated a significant increase in capital requirements for banks. This directive, aimed at strengthening the sector and mitigating systemic risks,...
Economic Uncertainty May Drive Renters Towards Shared Living Spaces in Lagos
A new report by BuyLetLive has revealed that economic uncertainty may push renters in Lagos towards shared living spaces as rising costs and economic instability impact the residential market. While the report acknowledges continued demand for residential properties driven by population growth and urbanization, it predicts a slowdown in rent growth and increased competition for available units. "The continuous rise in...
African Female Entrepreneurs Urged to “Go Green” to Thrive in Evolving Global Market
Logistics experts have urged African female entrepreneurs to prioritize sustainability to remain competitive in the face of evolving global market dynamics. At the maiden edition of the African Women Sustainability Conference, held in Abuja, speakers emphasized the critical need for African businesses to embrace green practices to ensure long-term success. The conference, themed "Igniting Africa's Green Revolution: Empowering Women Entrepreneurs...
PwC Predicts Accelerated AI Adoption in 2025, Emphasizing Workforce Transformation
PwC has predicted that the adoption of Artificial Intelligence (AI) will significantly accelerate in 2025 as businesses recognize its critical role in future-proofing their operations. The firm's 2025 AI Business Predictions report highlights the increasing importance of AI across various sectors, emphasizing that companies must strategically integrate AI into their core business strategies to gain a competitive advantage. "AI adoption is...
SEC to Enhance Borrowing Framework for Governments and Corporates
The Securities and Exchange Commission (SEC) has announced plans to enhance the regulatory framework for borrowing by governments and corporates, with a focus on sustainability and efficiency. Dr. Emomotimi Agama, Director-General of the SEC, emphasized the importance of sustainable borrowing practices, particularly in light of the Supreme Court's directive mandating direct subventions to the 774 local government areas from the...
CIIN President Highlights Challenges and Opportunities for the Insurance Sector in 2025
Yetunde Ilori, President of the Chartered Insurance Institute of Nigeria (CIIN), has identified several challenges facing the insurance sector in 2025, including potential tax reforms and recapitalization requirements. In her New Year message to CIIN members, Ilori acknowledged the challenging economic conditions of 2024, citing high inflation, a struggling exchange rate, and rising unemployment as significant headwinds for the industry. "Our...
Nigerian Breweries Secures Captive Power Generation Permits Amidst Grid Instability and Rising Costs
The Nigerian electricity sector continues to grapple with significant challenges, including frequent grid collapses, unreliable power supply, and escalating electricity costs. These challenges have compelled many businesses and institutions to seek alternative energy solutions, and Nigerian Breweries Plc is a prime example of this shift. The company has recently secured approval from the Nigerian Electricity Regulatory Commission (NERC) to...
JCI Nigeria Calls for Nominations for 2025 Ten Outstanding Young Persons Award
Junior Chamber International Nigeria (JCI Nigeria) has announced the opening of nominations for the 2025 edition of its prestigious Ten Outstanding Young Persons (TOYP) Award. This annual award recognizes 10 exceptional young individuals between the ages of 18 and 40 who exemplify leadership, entrepreneurial spirit, and a commitment to positive social impact. Nominations for the 2025 TOYP Award are...
