General News
83% Nigerian Women Consider themselves an Entrepreneur

Nigerian women are embracing entrepreneurship at an extraordinary rate, with eight in ten (83%) women consider themselves an entrepreneur—far higher than the regional average of 51% across Eastern Europe, Middle East, and Africa (EEMEA). Among them, millennial women (86%) lead the way, outpacing their male counterparts (79%).

New research from Mastercard titled ‘Empowerment for All,’ released ahead of International Women’s Day 2025, highlights the driving forces behind this wave of entrepreneurship: financial independence, personal ambition, and the ability to turn brilliant ideas into reality. Among women business owners in Nigeria, 49% started their business to pursue a dream, while 45% wanted to bring a great idea to life—underscoring a strong sense of purpose among female entrepreneurs.
“The entrepreneurial spirit among women is strong and growing, with younger generations leading the way. With access to the right financial tools, mentorship, and digital resources, women entrepreneurs can unlock new business opportunities, drive innovation, and contribute significantly to economic development.
At Mastercard, we are committed to navigating barriers and fostering an ecosystem where women-led businesses can thrive,” said Selin Bahadirli, executive vice president, Services, Eastern Europe, Middle East and Africa, Mastercard.
Nigerian women are not only aspiring to start businesses but are also actively participating in side-hustles, with 87% engaged in income-generating activities outside their main job, highlighting their strong entrepreneurial drive and determination to achieve financial security and independence.
High entrepreneurial spirit across generations
- Millennial women (86%) are the most likely to consider themselves entrepreneurs, followed by Gen Z (81%) and Gen X (73%).
- 90% of Nigerian women want to start their own business and are highly motivated to build multiple income streams. Their top reasons for being:
- Earning more money (83%)
- Gaining financial independence (67%)
- Creating a financial safety net (52%)
- The outlook for business growth in Nigeria is overwhelmingly positive, with 93% of business owners (men and women) expecting revenue to increase over the next five years.
Top sectors for Nigerian women entrepreneurs
Nigerian women are pursuing business opportunities across diverse industries, with the most popular being:
- Agriculture (36%)
- Food and drink (22%)
- Education, including tutoring (20%)
Barriers facing women entrepreneurs
Despite this entrepreneurial drive, confidence is a major issue among Nigerian women, with 15%—more than twice the proportion of men (7%)—feeling they lack the confidence to start a business. Nigerian women also to face significant barriers to starting and sustaining their businesses, citing lack of funding (57%), lack of financial resources (56%) and the difficulty in securing startup capital (40%) as the biggest challenges.
Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa shared, “Nigerian women entrepreneurs are redefining business success with their ambition, creativity, and resilience. With 83% of women considering entrepreneurship, the opportunity to drive inclusive economic growth is immense. However, key barriers such as access to finance, digital infrastructure, and business skills must be addressed to ensure that their potential is fully realized. By working with partners in Nigeria, we are committed to equipping women entrepreneurs with the tools, networks, and capital they need to thrive in an increasingly digital economy.”
Women entrepreneurs in Nigeria are nearly four times more likely than men to struggle with childcare responsibilities when starting a business (14% vs. 4%), while 16% feel that starting a business is simply not an option for someone like them and 35% saying they need to stay in a job to maintain financial stability, highlighting the need for greater support and inclusion. Women also believe they lack the necessary knowledge to start a business (10%), compared to just 4% of men. Access to critical digital infrastructure is another key barrier affecting 35% of women entrepreneurs in Nigeria.
Support needed
To overcome these barriers, Nigerian women identified key enablers that would help them thrive, including:
- More available funding options (65%) to ease financial constraints
- Better training in business skills (55%) to build expertise
- Greater access to grants and public funding schemes (47%) to accelerate growth
Women business owners in Nigeria are also more likely than men to recognize the importance of guidance in choosing the right technology (37% women vs. 29% men) and sustainable practices (35% women vs. 25% men) for their business as key factors for long-term success.
Leveraging technology for business success
Women entrepreneurs in Nigeria are leading the adoption of AI, with 80% regularly using AI in their business—nearly twice the rate of men (45%). Additionally, 82% of female entrepreneurs report significant cost and time savings from AI adoption, compared to 63% of men.
However, women are also more vulnerable to cybersecurity threats, with:
- 51% of female business owners having been targeted by fraudsters, compared to 35% of men.
- 65% of women worrying daily about cyberattacks, slightly higher than men (61%).
- More women (27%) than men (22%) having lost customers due to scams, underscoring the need for stronger cybersecurity education and protection.
Mastercard has a long-standing commitment to enabling women entrepreneurs through financial inclusion, digital solutions, and knowledge-sharing initiatives. Since 2020, Mastercard has provided over 50 million small businesses including 37 million women entrepreneurs with support and solutions that can help them grow their businesses.
In Nigeria, Mastercard has partnered with organizations like SMEDAN, LSETF, KaiOS, and Allawee to support entrepreneurs with capacity building, access to market, access to credit and relevant business digitization tools and services.
General News
Female Executives Preach Gender Balance In Tech @eBusinessLife Forum

Young girls aspiring to delve into ICT careers have been advised to take advantage of the current versatility in the industry to create a niche for themselves. This was the view of participants at the just-concluded International Girls in ICT Day celebration organised by eBusinessLife Communication Limited, in Lagos.

The event, an initiative of the International Telecommunications Union (ITU), seeks to encourage young girls to take up tech careers that will see them balance the gender disparity in the industry.
In a panel session moderated by Tech Life Media CEO and organiser of Women Entrepreneurs & Executives in Technology Summit (WEETS), Ugochi Emmanuel, top female tech executives narrated their foray into technology careers and advised the young girls on requirements and need to start early in the quest to make global impact in ICT.
Narrating her experience into a tech career, Chief Administrative Officer, Digital Realty, Nigeria, Dr. Nkechi Newton Denila noted that the difficulties of the past have been lightened up and more women have opportunities to excel in the field.
“Today, the landscape is vastly different. Governments, international organizations and private institutions across the globe are intentionally creating opportunities for girls in Science, Technology, Engineering and Mathematics (STEM). The reason we are gathered here is part of that global commitment to ensuring that more women participate in ICT and related fields.
This presents a unique advantage for young girls. Many organizations now deliberately promote gender inclusion and equal opportunities in technology. Therefore, if you discover an area within ICT that excites you, pursue it wholeheartedly. This window of opportunity may not remain open forever. Do not wait for others to decide your future for you. Identify your passion, chart your course, and remain committed to achieving your goals.”
Associate Consultant and Information Security Analyst, Digital Encode, Itunuola Aderemi, advised the young girls to begin researching various technology disciplines, including Cybersecurity, Data Analytics and Data Science for areas that align fully with their interests and strengths. And to explore and discover any field that perfectly matched my aspirations.
While admitting the existence of such challenges as persistent stereotype against the female gender, Team Lead, Retails, New Horizons Nigeria, Glory Omole, noted that fortunately, organisations such as New Horizons are actively working to change that narrative. “Our leadership recognizes the urgent need to increase female participation in ICT. Considering that women still constitute a relatively small percentage of the global technology workforce, there is a deliberate effort to encourage more girls and women to enter the field.”
She however cautioned the young girls not to see this campaign as a competition between men and women, rather, it should be seen as a partnership where everyone is given equal opportunities to contribute and excel. “We want to see more women leading innovations, conducting research, developing applications and creating solutions that address societal challenges,” she enthused.
Speaking on the need for mentorship, Asst. Manager, Product & Services, Zoracom, Mistura Salaudeen, noted that stereotypes and confidence-related challenges still exist, but one effective way to overcome them is by drawing inspiration from women who have succeeded. She observed that across government, technology, finance, healthcare and other sectors, women are increasingly occupying leadership positions, serving as Chief Technology Officers, board members and executives.
“While challenges persist, I believe our focus should shift towards opportunities rather than obstacles. Artificial Intelligence, for example, has significantly lowered barriers to entry. AI enables individuals to develop business proposals, prepare presentations and execute ideas much faster than before. Therefore, instead of being discouraged by challenges, girls should leverage available technologies and communities to accelerate their growth and maximize emerging opportunities,” she advised.
Glory Omole also noted that technology is broad and offers diverse opportunities.
“There are numerous digital skills available today, but the choice of skill should depend largely on individual interests and career aspirations.
Fields such as Data Analytics, Data Science, Cybersecurity, Web Development and User Interface/User Experience (UI/UX) Design are among the high-demand skills available today. Each serves a distinct purpose.”
Corroborating this claim, Dr. Newton-Denila said: “It is important to understand that ICT now permeates virtually every profession. Whether in medicine, law, engineering, agriculture or business, technology has become an indispensable component of professional practice.
In medicine, for example, Artificial Intelligence is increasingly being used in diagnostics, telemedicine and robotic surgery. Similarly, in law, digital applications now support legal research, documentation and case management.”
The event has its theme as “AI for Development: Girls Shaping the Digital Future”.
General News
Franklyn Ginger-Eke CEO The Rainbow Strategy Honoured with PR Power List 2026 Rising Voices Award

Dr Franklyn Ginger-Eke, Founder and Chief Strategist of The Rainbow Strategy, has been honoured with the PR Power List 2026 Award in recognition of his contributions to strategic communications and public relations in Nigeria.

Franklyn Ginger-Eke, CEO The Rainbow Strategy
Ginger-Eke received the award in the Rising Voices category during the fifth edition of the PR Power List organised by GLG Communications as part of activities marking the 2026 World Public Relations Day.
The award ceremony, held at the Mike Adenuga Centre in Ikoyi, Lagos, attracted leading professionals and stakeholders in Nigeria’s public relations industry.
Among those in attendance were the President and Chairman of Council of the Nigerian Institute of Public Relations (NIPR), Dr Ike Neliaku; the Chief Executive Officer of the Public Relations Consultants Association of Nigeria (PRCAN), Dr Nkechi Ali-Balogun; former President of the African Public Relations Association (APRA) and Chief Executive Officer of CMC Connect LLP, Chief Yomi Badejo-Okusanya; and Executive Director of THOP and Adviser, Edelman Africa, Mr Kwame Senou.
According to the organisers, the PR Power List recognises public relations and communications professionals whose work has made significant contributions to organisations, influenced public discourse and advanced the communications profession over the past year.
Reacting to the recognition, Ginger-Eke described the award as both humbling and motivating.
“I am deeply honoured to receive this recognition for the modest contribution we are making in shaping the public relations and communications ecosystem.
“I see it as a testament to the dedication, creativity and excellence of our team at The Rainbow Strategy.
“This is a call to do more in delivering strategic communication solutions that create impact, build trust and contribute to the continued growth of the public relations profession in Nigeria,” he said.
He dedicated the award to young and aspiring communication professionals, encouraging them to embrace innovation, professionalism and ethical practice in their careers.
Ginger-Eke also reaffirmed The Rainbow Strategy’s commitment to promoting excellence in strategic communications, reputation management, stakeholder engagement, data protection compliance and value-driven public relations campaigns across the public and private sectors.
A Fellow of the Nigerian Institute of Public Relations (NIPR), Ginger-Eke is recognised for his work in public affairs, strategic communication and data protection compliance through his Abuja-based consultancy, The Rainbow Strategy.
General News
Dangote Refinery’s Private Placement Reportedly Hits $2.5Bn

Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.

Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
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