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Nigeria is rapidly transforming into one of Africa’s most dynamic hubs for artificial intelligence (AI) as the country is now shifting from experimentation to execution with major implications for business, government, and society, according to the Artificial Intelligence Landscape Report 2025 released by AI in Nigeria.

The report presented a comprehensive overview of Nigeria’s AI ecosystem, examining sector-readiness, regulatory activity, startup growth, and partnerships across fields such as healthcare, agriculture, education, manufacturing, and finance.

Kashifu Abdullahi, director-general, National Information Technology Development Agency (NITDA), said Artificial Intelligence (AI) is one of the most transformative technologies of our time, redefining how societies function, how economies grow, and how governments serve their people.

‘For a country like Nigeria, AI presents an unprecedented opportunity to address development constraints and accelerate progress in critical sectors such as healthcare, education, agriculture, finance, and public service delivery,’ he said.

‘Innovation in this space is not just desirable, it is essential to our national competitiveness, digital sovereignty, and inclusive growth,’ Abdullahi added.

Wole Adeniyi, chairman, Board of Trustees, AI in Nigeria Foundation, said, ‘Nigeria is in a strong position to lead. Not only in adopting AI, but in shaping a story that reflects our context, our values, and our aspirations. A story that speaks to the rest of Africa and to the world.’

Ehia Erhaboh, co-founder, AI-in-Nigeria, noted that the AI landscape in Nigeria has experienced significant shifts in the last two years, creating excitement as to what lies ahead.

‘There’s been increased policy engagement in ecosystem growth and wider sectoral interest, use cases, and applications. The momentum is growing and positioning Nigeria as a key player in Africa’s emerging AI transformation,’ he stated.

Overall, Nigeria is progressing from keen interest to strategic implementation. The launch of the draft Nigeria National AI Strategy (NAIS) in August 2024 marked the initiation of Nigeria’s formal AI strategy, according to him.

In February 2025, Nigeria established the Nigeria National AI Trust to oversee the implementation of the NAIS and AI investment across critical sectors. These steps highlight Nigeria on a trajectory to progress if execution is sustained.

The inclusion of Private sector leadership in the Trust and early investments by the Gates Foundation are early wins, which are signs of exciting things to come, he said.

The report argues that if Nigeria can scale its AI ecosystem effectively, it may not only improve productivity and service delivery but also develop exportable AI solutions for the continent and beyond.

‘As builders, investors and policymakers navigate a fast-changing AI landscape, this report is a clear guide to what is real and what is next,’ it stated.

The report identified over 120 startups across Nigeria leveraging AI to tackle local and global challenges. It noted that government strategy, industry partnerships, and regulatory frameworks are increasingly aligned to create an enabling environment.

Sector-by-sector analysis reveals that industries such as financial services, telecommunications, and education are further ahead, while agriculture and manufacturing still have significant room for AI-driven uplift.

The report underscores that Nigeria is not simply importing AI solutions but is actively developing solutions tailored to local realities. It, however, cautions that significant structural and systemic challenges remain, which include gaps in infrastructure (power supply, connectivity) and data readiness.

Parents have raised alarm over the government’s limiting of the Federal Science and Technical College (FSTC), Yaba, to Catering Craft Practice in the forthcoming 2025/2026 West African Senior School Certificate Examination (WASSCE), describing it as a setback.

The concerned parents and students expressed concerns that such a directive is discouraging to innovation and could reduce students’ competitiveness. Besides, they said it is against the federal government’s broader agenda to promote STEM and skills-based learning.

Recently, the management of FSTC announced the restriction of students to only Catering Craft Practice for the forthcoming 2025/2026 West African Senior School Certificate Examination (WASSCE).

Before this policy shift, FSTC Yaba offered over 20 WAEC-approved trade subjects, including Electrical Installation, Computer Craft, Painting and Decoration, Data Processing, and Garment Making.

These subjects formed the backbone of the college’s technical and vocational curriculum, equipping students with practical skills and industry-relevant knowledge.

The new development is causing anxiety among parents, who are worried it will jeopardise their children’s career dreams.

Besides, according to one of the parents, trade subjects, introduced by WAEC to strengthen vocational and technical education, are geared towards exposing students to diverse practical skills and career options.

Many students, especially those not offering Catering Craft Practice at FSTC Yaba, face an uncertain academic future, as their dreams hang in the balance.

Concerned parents have addressed a letter to Tunji Alausa, the minister of education, seeking the intervention of the Federal Ministry of Education and WAEC to suspend the policy for the ongoing academic session and allow current SS3 and SS2 students to complete their studies under the existing structure.

Eko Electricity Distribution Company (Eko DisCo) has commenced the second phase of its free Prepaid Meter Roll-out under the Presidential Metering Initiative (PMI), financed through the Meter Acquisition Fund (MAF) Tranche B, aimed at closing the metering gap within its franchise area.

Under this phase, Band A and Band B customers are eligible to receive prepaid meters at no cost in line with the Federal Government’s commitment to promote transparency, eliminate estimated billing, and improve customer confidence in the electricity value chain.

According to the company’s release, eligible customers can apply through the Eko DisCo online portal.

‘New customers seeking connection may visit the New Connection section, while existing customers who wish to migrate from postpaid to prepaid or replace damaged or obsolete meters can do so by registering (for first-time users) or logging into their existing account,’ the statement read.

According to the DiCo, applications are open until November 30, 2025, with installation scheduled to run from November 6 to December 31, 2025, completely free of charge.

‘At Eko DisCo, we remain committed to improving customer experience and service transparency. This tranche-B rollout under the Presidential Metering Initiative ensures that more of our customers enjoy the benefits of accurate billing and greater control over their electricity consumption,’ said Babatunde Lasaki, GM, Corporate Communications and Strategy, Eko DisCo.

‘We appreciate the Nigerian Electricity Regulatory Commission (NERC) and the Federal Government for sustaining this initiative and for their continued efforts to address Nigeria’s metering gap. Initiatives like this reflect a shared commitment to advancing a fair and accountable power distribution system,’ Lasaki added.

The Meter Acquisition Fund (MAF) is a key financing mechanism within the Presidential Metering Initiative (PMI) approved by the Nigerian Electricity Regulatory Commission (NERC).

Under Order No: NERC/2025/107, effective 6 October 2025, NERC approved N28 billion for Distribution Companies (DisCos) to procure and install meters for unmetered Band A and B customers nationwide.

The scheme is designed to close Nigeria’s metering gap of over seven million customers, enhance billing credibility, and ensure transparency across the electricity distribution sector.

Governor Uba Sani of Kaduna State has congratulated Muhammad Sani Abdullahi, the deputy governor of the Central Bank of Nigeria (CBN), on his 46th birthday, describing him as a visionary economist and an exemplary son of the state.

In a message issued on behalf of the government and people of Kaduna State, Governor Sani hailed Abdullahi’s intellect, integrity, and commitment to transformative public service, noting that he has consistently shown how sound, data-driven policies can improve lives and strengthen institutions.

The Governor recalled Abdullahi’s outstanding contributions to Kaduna’s development as commissioner for Budget and Planning and later as chief of staff, where his foresight and analytical depth helped shape the state’s governance and reform agenda.

‘Abdullahi embodies the finest ideals of public service, intellect, integrity, and an abiding passion for transformative development,’ the Governor stated.

He commended Abdullahi’s continued service at the Central Bank, where he plays a vital role in ongoing economic reforms aimed at stabilising the financial system and restoring public confidence in Nigeria’s economy.

Sani described the CBN deputy governor as ‘a loyal son of Kaduna, ever ready with wise counsel and unwavering support for the state’s progress.’

As Abdullahi clocks 46, the Governor prayed for him to be blessed with continued wisdom, strength, and grace to keep serving the nation with humility and distinction. ‘Happy Birthday, Mallam Abdullahi,’ he stated.

Meet Abayomi Whint. A Nigerian born lawyer who arrived in Brooklyn at six years old and has just taken the oath of office as a judge of the Kings County New York Civil Court. Her story blends resilience, family values, legal excellence and a deep belief that justice must serve everyone fairly.

‘I am overwhelmed with joy. This is a tremendous honour,’ she said during her swearing in at Brooklyn Law School, surrounded by family and friends dressed proudly in white and green.

An immigrant journey shaped by service

Born in Nigeria, Whint was inspired by her grandfather, a respected magistrate and chief, who instilled in her a passion for justice and leadership. Her father, a nurse, and her mother, an educator and advocate for children, reinforced the belief that community service is a calling.

Those values followed her into the American school system. She graduated cum laude from Connecticut College with distinction in psychology and later earned her law degree from Rutgers School of Law Newark, becoming an associate editor of the Race and the Law Review and a committed advocate for racial justice.

A career built on fairness and community

Whint brings more than 20 years of public sector experience into her new role. Most recently, she served as a legal enforcement attorney in the New York City Fire Department, where she also championed diversity and inclusion initiatives as president of CONNECT, the department’s first affinity group dedicated to civilian staff. She currently sits on the Fire Commissioner’s Committee on Diversity and Inclusion and the Taskforce on Racial Equity and Inclusion.

Her career spans assistant corporation counsel at the New York City Law Department, deputy managing attorney and administrative law judge at the Office of Administrative Trials and Hearings and years running her own law practice handling bankruptcy, real estate, family law and civil rights matters. She has also served Brooklyn for more than a decade as a volunteer arbitrator in Small Claims Court.Her colleagues describe her as a tireless advocate for fairness.

‘How do we begin to say thank you to someone who has given so much of herself,’ said Frank Seddio, retired surrogate court judge. ‘This is the beginning of a great career in the judiciary.’

Justice that people can feel

Whint’s judicial philosophy is clear. Courts must ensure that every voice is heard. ‘The legal system should serve everyone equally,’ she explained. ‘When people leave court, they should feel they have been given due process and a fair opportunity to be heard.’

She believes judicial decisions shape the lives of families and neighbourhoods. Her compass remains grounded in restorative justice, mediation and community building. As a certified mediator, arbitrator and restorative circle keeper, she works actively to heal harm, resolve conflict and uplift those who feel excluded from the justice system.

Assemblymember Rodneyse Bichotte Hermelyn, chair of the Brooklyn Democratic Party, celebrated the significance of Whint’s appointment.

‘Her journey speaks volumes about the resilience and determination that fuel so many immigrant families,’ she said. ‘With faith and perseverance anything is possible.’

Breaking barriers and inspiring many

Elected as one of eight new judges in Brooklyn in the November 2024 ballot, her elevation has been widely celebrated within New York’s Nigerian community. The Nigerian Consul General, Ambassador Abubakar Jidda, hosted a reception in her honour, describing her achievement as a victory for representation and community service.

Whint describes the role not as a career milestone, but as a purpose. ‘This is not just a career choice. This is my calling.’

Her arrival on the bench signals a profound message to young immigrants, women in law and communities in search of hope. Whint has vowed to work every day to make Brooklyn ‘a more just and equitable place for all.’

The Nigerian Association of Resident Doctors (NARD) on Monday disclosed that the federal government owes doctors and other health workers across the country an estimated N38 billion in accumulated allowances.

Muhammad Suleiman, President of the Association, disclosed during a briefing in Abuja while presenting the resolutions of an Extraordinary National Executive Council (NEC) meeting.

The meeting followed the expiration of NARD’s 30-day ultimatum issued to the Federal Government. He warned that resident doctors have already begun ward rounds and patient handovers in preparation for a planned nationwide, total, and indefinite strike beginning on Saturday, 1 November 2025.

Suleiman explained that the outstanding payments are not limited to resident doctors but affect all cadres of health professionals, including administrative staff. Allowances are outstanding for over two years, including 18 months, seven months, four months, and eight months. There is an allowance error dating back more than ten years. Additionally, the basic salary of doctors in this country has not been reviewed for 16 years,’ he said.

‘For instance, in the pending 25-35 per cent Consolidated Medical Salary Structure (CONMESS) review, the accoutrement allowance for all doctors in the health sector remains unpaid. For all health care workers, the total outstanding sum is about N35-38 billion. For resident doctors alone, it may be around N400 million, but for all doctors in Nigeria, it could amount to N600-800 million’, he added.

Beyond unpaid benefits, Suleiman noted that doctors have endured stagnant salaries for 16 years despite increasing workloads and worsening staff shortages in the health sector. He stated that the Association has presented 19 demands to the government, which it considers the minimum requirements necessary to prevent the total and indefinite strike by its members.

Following the suspension of a five-day warning strike on 14 September 2025, the last NARD Annual General Meeting, held in Katsina State, extended the two-week ultimatum issued to the Federal Government by an additional 30 days to address the 19-point demands outlined in the AGM communiqué.

The grace period has since elapsed, yet the Federal government did not address the concerns of the resident doctors. On Saturday, 25 October 2025, NARD convened an Extraordinary NEC meeting via Zoom to review the report of the National Officers’ Committee on the status of implementation of its demands by the Federal and affected State Governments.

The NEC observed that the Federal Government has failed to settle multiple outstanding arrears from the CONMESS review and accoutrement allowance despite repeated assurances.

Following extensive deliberations, the NEC resolved that there must be immediate payment of the outstanding 25-35 per cent CONMESS arrears and other pending financial entitlements, including the 2024 accoutrement allowance due to doctors.

The Council also demanded the unconditional reinstatement of five resident doctors unjustly terminated from the Federal Teaching Hospital, Lokoja, with full payment of all salaries and allowances for the period of their unlawful disengagement.

Furthermore, the NEC called for the immediate constitution of a Task Force by the Federal Ministry of Health and Social Welfare to develop and implement a clear and humane working-hours policy for doctors in line with international best practice, to safeguard both physician wellbeing and patient safety.

The Council also urged the granting of more efficient means for hospital Chief Executives to employ doctors and the immediate implementation of a one-for-one replacement policy to reduce excessive workload and burnout.

In addition, the NEC stressed the urgent need for upgrading and maintaining infrastructure and medical equipment in all healthcare facilities nationwide, the immediate commencement of specialist allowance payments for all doctors, and the cessation of re-categorisation of membership certificates by examination and regulatory bodies, with all certificates restored to their proper status.

The Council also demanded the inclusion of medical and dental house officers in the civil service scheme with full entitlements and prompt salary payment, the correction of entry-level placements, decentralisation of promotion processes, and payment of arrears resulting from these corrections.

It called for the expedited review of CONMESS and other professional allowances, with immediate implementation of corrected professional allowance tables and enforcement of relativity between CONMESS and CONHESS salary structures. The NEC further insisted on urgent payment of accrued promotion arrears owed to medical officers, the reversal of the practice of creating consultant cadres for non-medical personnel, and the abolition of casualisation of doctors to ensure all locum staff are fully employed according to public service rules.

Suleiman highlighted that the uniform implementation of all CONMESS circulars across federal, state, and private health institutions is critical, alongside the immediate implementation of special pension benefits previously agreed between the federal government and the Nigerian Medical Association.

‘The Nigerian Association of Resident Doctors (NARD) hereby declares a total, comprehensive, and indefinite strike commencing at 12:00 AM on Saturday, 1 November 2025. All resident doctors in federal and state tertiary health institutions nationwide are directed to withdraw their services completely until the Federal and affected State Governments demonstrate genuine commitment to addressing our demands,’ he declared.

Suleiman appealed to President Bola Tinubu to intervene, demonstrate goodwill, and resolve the ongoing issues affecting doctors and the health sector. ‘Mr President, they continue to pay themselves their salaries and allowances. It is us on the frontlines who are not being paid. I hope you will listen to this appeal and use your influence to resolve these issues,’ he urged.

Civil society organisations (CSOs) have raised concerns over the Federal Government’s delay in releasing funds for Nigeria’s 2025 immunisation programme, warning that the bottleneck could derail vaccine distribution nationwide and threaten child health outcomes.

This comes as the Senate considers a bill to amend the National Health Act (2014) and increase the Basic Health Care Provision Fund (BHCPF) from 1% to 2% of the Consolidated Revenue Fund (CRF) targeted at improving vaccine financing, boosting primary healthcare, and expanding insurance access for vulnerable Nigerians.

Speaking at a consultative workshop on ‘Why Invest in Immunization? – From the Lens of Civil Society Organizations (CSOs)’ on Thursday in Abuja, Chika Offor, chief executive officer of Vaccine Network for Disease Control (VNDC) said the amendment has become necessary to ensure that vaccine funding is ‘ring-fenced’ and protected from budgetary competition with other health priorities.

‘It has become imperative that we have such a fund because immunization saves economies,’ Offor said.

She emphasized that immunization funding must be placed in a protected budgetary line – one that cannot be diverted or delayed during fiscal adjustments.

‘It should not be left to struggle under the service-wide vote with many other items. We are waking up from our slumber to start conversations on how to secure immunization and other essential health commodities,’ she added.

Although some government officials, including the Minister of State for Health, have argued that the 1% increment should cover general primary healthcare operations, Offor agreed that it should not be for immunisation alone but insisted that the final policy must be clear and equitable.

‘I agree completely that it cannot be for immunisation alone because we’re looking at the health of Nigerians. This is just a proposal that will go through public hearing and be refined into a robust document that caters to all Nigerians,’ she said.

Opo explained that CSOs are working with government agencies and experts to articulate recommendations that will strengthen accountability and ensure that whatever is agreed upon benefits citizens.

Turning to the issue of budget implementation, Offor raised concerns over delays in releasing funds for vaccine procurement.

‘For 2024, only 25% of the ?137 billion immunisation budget has been paid,’ she revealed. ‘As for 2025, not a penny has been released. This is worrisome because we just concluded an integrated immunisation campaign targeting over 100 million children. We cannot afford stockouts at a time when vaccines are saving lives daily.’

She explained that the 2023 co-financing budget was paid at the end of 2024, while the 2024 allocation remains partially released.

‘The 25% that was released came around June 2024,’ she said. ‘Now, we are in October, and there has been no release at all for 2025. The current budget cycle ends in December, and that’s why CSOs are coming together to demand that immunisation funds be clearly referenced in the budget. We cannot keep doing the same thing every year and expect different results.’

She said CSOs would continue to push for both the release of outstanding 2024 funds and the timely disbursement of 2025 allocations.

‘What we are praying for is that the government releases both 2024 and 2025 funds,’ she said. ‘We’re already targeting over 100 million children. If the government truly wants to meet its promises, the funds must be made available.’

Offor further proposed a broader approach that includes tapping 1% from the Federation Account to cater to health in general.

‘If we could get 1% from the Federation Account, that would be a huge pot that can sustain healthcare,’ she said. ‘That would require a constitutional amendment, but if that’s not feasible now, let’s manage what we have – the additional 1% from the Consolidated Revenue Fund to support immunisation and other commodities such as nutrition and family planning.’

She stressed that vaccines remain one of the most cost-effective interventions in global health.

Senate backs amendment for sustainable funding

Senator Banigo reaffirmed the National Assembly’s commitment to strengthening health investments through immunization, describing vaccines as ‘vital to Nigeria’s future.’

She explained that the existing 1% allocation to the Basic Health Care Provision Fund (BHCPF) has become inadequate amid rising healthcare costs and declining donor support, stressing the need to boost Nigeria’s domestic resource mobilization.

‘The 2014 Act was a landmark commitment to financing primary healthcare in Nigeria. However, the current 1% of the Consolidated Revenue Fund (CRF) is no longer sufficient to meet the growing health demands of our people,’ Banigo said.

According to her, the proposed amendment to increase the allocation from 1% to 2% will strengthen primary healthcare facilities nationwide, expand insurance coverage for the poor and vulnerable, and improve maternal, child, and immunization outcomes.

She emphasized that vaccines would particularly benefit from the increased funding, which would enhance coverage and delivery across the country.

‘This amendment is not just about numbers; it’s a call to action. Health promotion funding should not be viewed as a cost but as an investment in Nigeria’s future,’ she added.

If passed, the revised allocation could push the BHCPF to providing much-needed fiscal space for vaccine procurement and delivery across the country’s struggling primary health system and reduce the nation’s reliance on donor funding.

Immunisation remains one of Nigeria’s most effective public health interventions, credited with saving millions of lives annually from preventable diseases such as measles, polio, and diphtheria.

Yet, coverage has stagnated below 60%, weakened by funding shortfalls by inconsistent of government financing.

Senator Banigo, however, maintained that the Legislature has played its part by advancing the amendment bill and called on the Executive and development partners to ensure timely budget releases and accountability in implementation.

‘The challenge is no longer with the Legislature – we have done our part. What remains is for the Executive to ensure timely releases, and for CSOs to sustain advocacy for transparency and effective utilization,’ she said.

Experts call for accountability and timely releases

Also speaking, Hon. Usman Mohammed, former Deputy Chairman of the House Committee on Health Services in the 8th National Assembly, described the situation as ‘deeply worrying,’ stressing that underfunding immunisation directly endangers Nigerian children.

‘Investment in vaccines is investment in Nigeria’s economic productivity. Every delay puts children at risk and weakens our public health security,’ he said.

Mohammed urged the National Assembly to work closely with the Executive to ensure timely releases, adding that ‘the leadership must act fast to prevent another cycle of preventable disease outbreaks.’

In his remarks, Dr. Aminu Magashi, CEO the Africa Health Budget Network (AHBN), said the delay in fund releases undermines Nigeria’s co-financing commitments and increases dependency on international donors.

‘When government fails to release its share of immunisation financing on time, it leaves development partners struggling to fill the gap,’ he said. ‘That is not sustainable. We must promote co-financing and timely releases to ensure vaccines are available in all facilities and zero-dose children are reached.’

Dr. Amina also called for greater transparency in the proposed BHCPF increase, urging lawmakers to include a clear budget line for immunisation within the 2% allocation.

‘We support raising the BHCPF to 2%, but there must be clarity on how much of that fund goes to vaccine procurement, ‘he said. ‘Immunisation should not just be a broad mention – it should have a dedicated provision.’

President Bola Tinubu is currently meeting with the newly appointed Service Chiefs as part of efforts to tackle insecurity in the country.

Recall that President Tinubu had on Friday last week reshuffled his security architecture by appointing new heads of security organisations.

Sunday Dare, Special Adviser to the President on Media and Public Communication, in a statement, said President Tinubu appointed General Olufemi Oluyede to replace General Christopher Musa as the new Chief of Defence Staff.

Waidi Shaibu, a Major General, was appointed as the new Chief of Army Staff, even as Sunday Kelvin Aneke, an Air Vice Marshall, assumed duties as Chief of Air Staff while Idi Abbas, a Rear Admiral, was named new Chief of Naval Staff.

The statement said Emmanuel Akomaye Parker Undiendeye retained his position as the Chief of Defence Intelligence.

Although details of the meeting was not available at the time of filing this report, on Monday, Sources at the presidential Villa, indicated that the meeting which is the first since the new Service Chiefs took over, is part of efforts to work out strategies to deal with the increasing threats of insecurity and the need to halt the terrorists from further expanding into new frontiers in the country.

The meeting is coming amidst growing concern about the rapid spread of the bandits and terrorists into state hitherto considered peaceful in the country.

Recent indications had showed that the insecurity had pushed the nation into deeper turbulence over the past two years, with unrelenting violence, mass kidnappings, and persistent acts of terrorism, as well as banditry.

President Tinubu had charged the newly appointed Service Chiefs to justify the confidence reposed in them to enhance the professionalism further, vigilance and comradeship that define the Armed Forces of Nigeria.

BusinessDay gathered that all the newly appointed Service Chiefs are present at the meeting.

The Joint Admissions and Matriculation Board (JAMB) has granted admission to 85 candidates who were below 16 years old as of September 2025, following a rigorous evaluation process under its special policy for exceptional candidates.

In a statement issued on Monday, Fabian Benjamin, JAMB’s head of Media, said the decision came after a thorough multi-stage screening process designed to identify and reward academic excellence while maintaining the integrity of the admission system.

According to Benjamin, the special admission policy aligns with global best practices, where exceptional but underage students are considered as rare exceptions rather than the norm.

‘After meticulous evaluation, 85 candidates who were adjudged to be qualified have been duly notified to proceed to their respective institutions to complete the admission process and print their JAMB admission letters,’ the statement read.

The board explained that out of the 2,031,133 applicants who sat for the 2025 Unified Tertiary Matriculation Examination (UTME), a total of 41,027 sought to be considered under this special category.

Of these, 599 scored 80 percent or above in the UTME and were subjected to further scrutiny involving verification of school certificates and post-UTME results.

Following additional interviews and assessments, 182 candidates were shortlisted, and 85 of them were ultimately cleared for admission based on academic merit and compliance with all other criteria.

JAMB also directed any of the 182 shortlisted candidates who missed the final interview to submit a formal request through its support ticketing system under the category ‘2025 Underage Complaint’ for possible review.

The statement further noted that candidates who scored 320 and above in the UTME but were disqualified for failing to upload their O’Level results would be given two additional days up to Wednesday, October 29, 2025 to complete the process and notify the board through the same platform.

Reaffirming its commitment to fairness, inclusiveness, and transparency, JAMB said the exercise underscores its resolve to reward merit while maintaining high academic standards across Nigeria’s tertiary institutions.

Nigeria’s small and medium-sized enterprises (SMEs) have been urged to move beyond survival mode and embrace innovation, collaboration, and digital transformation as pathways to inclusive growth and long-term sustainability.

This call resonated strongly at the Enterprise Development Centre (EDC) of Pan-Atlantic University’s conference themed ‘Catalysing the Future: Empowering Small Businesses for Impact and Inclusive Growth,’ held Tuesday in Lagos.

Rosy Fynn, Country Director for Nigeria at the Mastercard Foundation, underscored the central role SMEs play in driving Nigeria’s economy and shaping the continent’s future. She noted that 96 percent of Nigerian youth are engaged in the SME sector, which contributes over 96 percent to the nation’s Gross Domestic Product (GDP).

However, Fynn cautioned that systemic barriers such as limited access to finance, markets, tools, and adequate support systems continue to hinder small business growth.

‘Small businesses are the heartbeat of communities. When they thrive, entire communities prosper,’ Fynn said. ‘But for them to scale, we must dismantle barriers to access and create ecosystems that enable youth and women to innovate, collaborate, and grow.’

She explained that the Mastercard Foundation’s ‘Young Africa Works’ strategy aims to create dignified employment opportunities for 10 million Nigerian youths by improving access to finance, digital tools, and market linkages.

‘Nigeria alone represents more than 30 percent of our Africa wide target of 30 million people. Of these, seven million will be women, people with disabilities, and internally displaced persons,’ she added.

As part of this effort, Fynn revealed that the Foundation has partnered with Ethnocentric in Abia State to support 4,000 SMEs in the leatherwork sector over the next two years through training and access to structured markets.

Another collaboration with Anasi has led to the establishment of a fashion shared services centre in Lekki, equipped with world-class tools accessible to young entrepreneurs at no cost.

‘These are the kinds of platforms that empower youth-led SMEs to grow, diversify, and compete globally,’ she said.

Fynn also encouraged entrepreneurs to embrace emerging technologies, especially artificial intelligence (AI), as a means to remain competitive.

‘AI and other digital tools are here to stay. SMEs must understand customer needs, adapt to changing trends, and use technology to position themselves within the broader ecosystem,’ she noted.

Speaking on macroeconomic realities, Adebanjo Adeloyega, an economist, highlighted how tight monetary policies, fluctuating oil prices, and inflationary pressures have affected small businesses. He projected that inflation could ease to around 18 percent by the end of the year but urged entrepreneurs to remain strategic and adaptive.

Goke Balogun, Chief Executive Officer of So Fresh Nigeria, stressed the importance of agility and innovation in business.

‘Flexibility and agility are essential. Businesses must constantly assess what works and what doesn’t, improving or innovating as needed,’ Balogun said.

On her part, Princess Funmi Bakare, chairperson of FAE, a serial entrepreneur, urged business owners to build systems that allow continuity and sustainability.

‘We are swimming in business,’ she said. ‘As entrepreneurs, we must create a niche for ourselves. Can your business exist without you for six months? That’s the real test of structure and sustainability.’

Also speaking, Ugonna Akah, Group Compliance Officer at Moniepoint, advised SMEs to focus on cost management and collaboration.

‘Negotiate prices that reflect real costs, and move away from traditional agricultural models to climate-smart systems and yield insurance,’ Akah said.

At the end of the conference, participants agreed that the future of Nigeria’s economy lies in the hands of empowered small businesses. With greater access to finance, technology, and collaborative networks, SMEs can transition from survival to sustainability-driving inclusive growth and positioning Nigeria as a continental leader in youth-led enterprise.