General News
25% of SMBs Make Half their Annual Revenue in the Final Months of the Year – Meta

The festive season is a critical period for small businesses as a study from Meta’s latest Global State of Small business Report shows that 25% of SMB owners expect to make more than half of their annual revenue in the final months of the year.
However, the study observed that as the COVID-19 pandemic wanes, the most significant challenge SMBs are facing now is the current state of the economy, supply chain disruption, inflation, threat of recession as well as production cost hikes.
Due to the state of the economy, 16% of SMB owners within the past 6 months reduced the size of their workforce in Ghana while 5% of SMB owners in Nigeria have made similar adjustments to their workforce within the same timeframe.
While SMBs fight to find their footing during this post Covid era and navigate the current economic situation, Meta technologies have been instrumental in helping local businesses thrive and have their good ideas discovered.
In the lead up to the festive season, Meta has decided to launch the ‘Good Ideas Deserve To Be Found’ campaign to further build on the success of the campaign first launched in 2021.
The campaign is aimed at spotlighting and celebrating local businesses with unique gifting ideas while encouraging holiday shoppers to support local businesses during this festive trading window.
“At Meta, we are committed to empowering SMBs with free skills and resources to help them build thriving businesses, develop meaningful connections, and unlock economic potentials so they can continue making a positive impact across the world.” Oluwasola Obagbemi, Corporate Communications Manager for Anglophone West Africa at Meta.
She also said, “This festive season, we seek to spotlight and tell the stories of SMBs with unique gifting ideas and provide SMBs with access to tools, support, and solutions needed to grow thriving businesses while reinforcing our continued support of small businesses to ensure they have a voice and ensure the right customers find their good ideas.”
When surveyed, 49% of SMBs in Ghana reported using digital tools for advertising and 59% of SMBs in Nigeria reported generating at least 25% of their sales through digital channels in the past 30 days. It was also revealed that 46% of operational SMBs in Nigeria on the Facebook app reported having sold their goods or services to customers in other countries in the past 5 years. This compares to the global average of 30%.
These discoveries have been made possible through the provision of digital tools for SMBs to ensure they are found by the right customers.
Through this campaign, Meta continues to support and give a voice to more than 200 million businesses using Meta technologies to ensure their good ideas are found.
General News
NDPC’s Data Protection Revenue Rose 93.6 Percent to N12Bn in 2024

Nigeria Data Protection Commission (NDPC) data protection cumulative revenue rose by 93.6 per cent to N12 billion in 2024 from N6.2 billion in 2023.

Dr. Vincent Olatunji, national commissioner, NDPC
This was revealed by the Commission in its 2024 Annual Data Protection Report.
The Commission further revealed that a total of 23,000 jobs were created in the data protection industry in 2024 representing a 127 per cent increase when compared with the 10,123 jobs created in 2023.
NDPC added that compliance revenue also increased to N1.5 billion from N325 million recorded in 2023, while the number of verified Data Protection Officers increased from 1,955 in 2023 to 2,888 in 2024.
The Commission’s 2024 Data Protection Report stated that the number of companies that filed compliance audit reports also increased from 3,451 in 2023 to 4,691 in 2024.
Commenting on the report, Dr. Vincent Olatunji, national commissioner, NDPC, said Nigeria has made significant progress in safeguarding the freedoms and interests of data subjects since the establishment of the Nigeria Data Protection Commission (NDPC) in 2023.
“The growth trajectory follows the developmental priorities of the Federal Government as well as the Strategic blueprint of the Federal Ministry of Communications, Innovation and Digital Economy.
“More importantly, it is a demonstration of our commitment to the implementation of the Nigeria Data Protection Strategic Roadmap and Action Plan (NDPSRAP) 2023-2027,” he said.
He added that the Commission has been holding data controllers and processors accountable for their acts and omissions under the Nigeria Data Protection Act (NDP Act).
He also said the requirement for fair, lawful, and transparent processing of personal data, rights to information, access, and objection to data processing, which many may esteem lightly prior to the 4th Industrial Revolution, are now very fundamental to the work of the Commission.
“This means that a trader in Ariara, Gusau or Balogun markets can rest assured that his/her personal data will not be used to open a bank account or to take a loan without his/her consent,” Olatunji stated.
General News
SERAP Sues Tinubu over Alleged N167Bn Projects Fraud

President Bola Tinubu has been dragged to court by the Socio-Economic Rights and Accountability Project (SERAP), over alleged N167 billion project fraud.
A statement made available to journalists by SERAP on Sunday pointed out that Tinubu’s failure to order prosecution of contractors who collected money to the tune of N167 billion to execute projects, but failed to do so, triggered the lawsuit against him.
SERAP said it identified 31 ministries, departments and agencies of government that failed to have their projects executed, despite funds committed to the contractors handling those projects.
The civil society organization decried the huge number of failed projects across agencies of government.
Noting that transparency is key to accountability, it urged the government to disclose all information related to the fraudulent contracts.
“Nigerians have the right to democratic governance, to influence government decisions, and to assess progress while holding officials accountable,” SERAP said in the statement.
The statement identified a number of government agencies with failed projects.
The Nigerian Bulk Electricity Trading Plc (NBET), alone allegedly paid N100 billion to companies for projects that were never completed.
Other MDAs with failed contracts include, Nigerian Correctional Service, National Pension Commission, Abuja, Federal College of Land Resources Technology, Owerri, Hydrocarbon Pollution Remediation Project, HYPREP, Office and Petroleum Technology Development Fund, PTDF.
Also listed are Federal Ministry of Youth and Sports Development, Federal Medical Centre, Bida, Niger State, National Centre for Women Development, Institute for Peace and Conflict Resolution, National Business and Technical Examinations Board, NABTEB, and Ministry of Niger Delta Affairs.
General News
Fortune Global Shipping Aims to Transform Nigeria’s Business Landscape

Fortune Global Shipping and Logistics Limited is set to transform the business landscape of the logistics industry through services in oil and gas logistics, project cargo and lots more.
Managing Director and Chief Executive Officer of the company, Dr. Eric Opah, in a statement said the organisation is expanding into more regions across the globe with its latest addition of a corporate office in Benin Republic, while the Abuja and Lekki free trade zones which follow soon will be part of asset acquisition to serve the clients better.
In the statement tagged, “Plans for 2025: Global Business Expansion, Exciting Benefits for Customers Top the List,” Opah said he remains committed to upholding and promoting global standards and will stop at nothing in providing value added services to support clients and help them thrive this year.
He said: “The organisation is expanding into more regions across the globe with its latest addition of a corporate office in Benin Republic, while the Abuja and Lekki free trade zones which follow soon will be part of asset acquisition to serve the clients better.
“Much more, the number one Africa logistics partner has reiterated the commitment to provide innovative and ‘value-centric’ services in oil and gas logistics, project cargo and lots more.
“We remain committed to upholding and promoting global standards and will stop at nothing in providing value added services to support our clients and help them thrive this year.”
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