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83% Nigerian Women Consider themselves an Entrepreneur

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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:

  1. Agriculture (36%)
  2. Food and drink (22%)
  3. 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.


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General News

FG Deploys Technology, Approves $54m Drugs to Tackle Tuberculosis

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Federal government said that it is adopting technology and innovation to speed up eradication of tuberculosis and other infectious diseases.

FG Deploys Technology, Approves $54m Drugs to Tackle Tuberculosis

It also said $54 million had been approved for the procurement of drugs, especially for treatment of tuberculosis and HIV, to prevent stock-outs of life-saving medicines.

Speaking at the 2026 Pre-World Tuberculosis Day briefing in Abuja, organised by Stop TB Partnership Nigeria, Dr. Charles Nzelu, director, Public Health at the Federal Ministry of Health and Social Welfare, said the present government was making giant strides in addressing challenges in the health sector.

Nzelu said the ministry, under the leadership of Professor Muhammad Pate, had prioritised TB as a major pillar of the health agenda.

As part of the implementation of National Strategic Plan (2021-2026), Nzelu, said the ministry had adopted technology to help achieve the target of stopping tuberculosis from constituting a public health risk in the Nigeria.

He stated, “To bridge the gap, we are leading with innovation. Specifically, this year, the National Tuberculosis and Leprosy Control Programme (NTBLCP) is spearheading the national rollout of the Pluslife Mini Dock diagnostic platform.

“This near-point-of-care technology is a game-changer, allowing us to bring molecular-grade testing to the most remote communities, ensuring that no Nigerian is left behind due to geography.

“Nigeria is rolling out over a thousand of this diagnostic equipment. But technology is only as strong as the systems that support it.

“We are currently focused on strengthening our electronic reporting systems to ensure real-time data flow from the facility level to the national dashboard.”

Nzelu said transparency allowed the ministry to manage the supply chain effectively and prevent stock-outs of life-saving medicines.

In her remarks, Dr. Queen Ogbuji-Ladipo, board chair, Stop TB Partnership Nigeria,  said the country had witnessed remarkable milestones in the fight against tuberculosis.

They included the mobilisation and engagement of high-level TB champions at the national, state, and local levels; strengthened collaboration with government and private-sector actors; increased advocacy for domestic financing; and expanded public awareness of TB prevention and care, Ogbuji-Ladipo said.

She, however, said there were challenges in funding to be addressed with the changing global health financing landscape and dwindling donor support.

According to her, “This reality makes domestic resource mobilization for TB more important than ever before. Sustainable financing from government budgets, private sector contributions, and innovative financing mechanisms will be critical to sustaining TB programs.”

In its presentation, Dr. Temitope Adetiba, TB Programme Lead – Institute of Human Virology (IHVN and Global Fund Project, said under the Global Fund Grant Cycle 7 for TB and HIV response, Nigeria had recorded over 300,000 TB case detection across the country.

 

In addition, IHVN said more than 3,000 drug-resistant TB cases were identified and linked to care, while over 2.3 million pregnant women were screened for TB and HIV across 2024 and 2025.

It also said Nigeria was increasingly taking TB and HIV services to the people within communities, households, and the private sector.

Dr. Mayowa Joel, executive secretary of Stop TB Partnership Nigeria, said the theme, “Yes We Can End TB”, was action oriented.

Joel said the theme challenged all stakeholders to move beyond discussions and commitments toward practical action.

He said, “This means ensuring that TB diagnostic services, treatment, and care reach everyone who needs them, especially through Primary Health Care, where most people first access health services.”

Dr. Mya Ngom, representative of Country Director of World Health Organisation (WHO), said Nigeria had made tremendous progress in responding to the epidemic.

According to Ngom, “In 2024, Nigeria reported 405,324 TB cases having increased from 106,533 cases in 2018, while 335,003 TB cases were reported in the three quarters of 2025.”

He said, “Expectantly, eighty percent (80 percent) of the estimated 510,000 incident TB cases will be detected and notified when the entire 2025 TB notification report is received. While this progress is encouraging, the fight against TB is far from over.

“The number of undetected TB cases averaging 175,000 cases constitutes a pool of reservoir that fuels on-going transmission of TB in the community as one undetected infectious TB case can infest between 12-15 persons per year.

“The emergence of Multi-Drug-Resistant TB (MDR-TB) and the high number of HIV further complicates the burden of TB in the country.”

 


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Luno Launches First Crypto Prediction Market in Nigeria

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Luno, an Africa-founded global exchange, has launched a structured Crypto Prediction Market, ushering in a new chapter for Nigeria’s cryptocurrency market.

This platform enables users to forecast short-term price fluctuations of key cryptocurrencies, such as Bitcoin , Ethereum , Solana, Dogecoin, Ripple, and earn USDC payments when when their predictions are accurate.

Powered by Limitless, the platform rewards right forecasts with USDC, a fully supported stablecoin.

This launch reflects shifting investment trends in Africa’s largest cryptocurrency market. Previously focused on long-term holding or spot trading, retail traders are now looking for tools that allow them to act on market information in a structured, short-term framework.

“We are seeing a clear shift in how Nigerians want to engage with crypto assets,” said Ayotunde Alabi, CEO of Luno Nigeria.

“Many already follow price movements closely and form strong market views; we want to lead with education as well as provide a safe and secure platform to help them apply that knowledge. This feature is designed to be a natural extension for those who enjoy forecasting.”

To mitigate risks, the platform integrates educational resources, dedicated prediction wallets, mandatory risk acknowledgements, and mechanisms preventing users from taking both sides of a market.

Unlike conventional derivatives or open-ended speculation, binary prediction markets are strictly outcome-based. Participants wager on whether an asset will close above or below a specific price target.

While this opens opportunities, it also carries high risk, as incorrect predictions result in total loss of the committed capital.

The launch could influence broader trends in African fintech. By introducing regulated, outcome-based products, exchanges can cater to a more informed investor base while promoting financial literacy.

For Nigeria, this could mark a turning point moving the market from passive participation to data-driven trading, providing a framework for responsible engagement in increasingly complex digital asset markets.

 


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LG Gives Muslim Faithfuls a Ramadan to Remember

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LG Electronics (LG) has reaffirmed its commitment to community, compassion, and shared prosperity as it joins Muslim faithful across Nigeria in celebrating the holy month of Ramadan.

Through its annual “Share The Life’s Good” campaign, the brand continues to create meaningful impact by organizing Iftar outreaches in mosques and community centres across key cities. The initiative provides meals to fasting Muslims, fostering a spirit of togetherness and reinforcing the values of giving and unity that define the season.

Ramadan, a period of spiritual reflection, devotion, and generosity, offers an opportunity for individuals and communities to reconnect and support one another. LG’s intervention aligns with these values, ensuring families can experience comfort and nourishment during the fasting period.

Speaking on the initiative, Managing Director, LG Electronics, Mr. Hyoung Sub Ji, described Ramadan as a time that strengthens human connection and shared purpose.

“Ramadan is a sacred period marked by prayer, fasting, and reflection. It brings people closer and reinforces the importance of kindness and community. Through our Share The Life’s Good initiative, we are proud to support families and deepen our connection with consumers during this special time,” he said.

Furthermore, Public Relations & CSR Manager, LG Electronics, Moses Osime added that LG’s presence spans beyond community outreach to in-store engagements and curated experiences, including special Iftar gatherings for customers and partners, all designed to celebrate the essence of the season.

As part of its Ramadan activities, LG also rewarded customers through its ongoing double-digit campaign, offering washing machines, shopping vouchers, and gift items to consumers who purchased LG products during the period. This initiative not only incentivizes patronage but also extends the spirit of giving to customers.

According to Osime, the company leveraged multiple platforms throughout Ramadan to engage Muslim faithful, providing support that ranges from practical solutions for meal preparation to inspirational content that resonates with the season.

With long fasting hours requiring proper nourishment, LG highlighted the role of its home appliances in making meal preparation easier and more efficient.

The brand also collaborated with influencers and culinary experts to develop nutritious recipes, showcasing how LG microwave ovens and kitchen solutions can help families prepare balanced Sahur and Iftar meals with ease.

“Ramadan gives us the privilege to celebrate community, and LG is proud to be part of that story,” he added.

Through these initiatives, LG continues to strengthen its relationship with Nigerian consumers, delivering not just innovative products but also meaningful experiences that enrich lives and uphold the true spirit of Ramadan.


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