Business

Entrepreneurship: “How I Made N10m Monthly From Akara Burger” – Gov Eno

The business attracted strong patronage from workers, especially those heading to ExxonMobil in the morning.

Published

3 weeks ago

September 3, 2026

OCHEFA

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Governor Umo Eno of Akwa Ibom State has revealed that a food business he started with akara and bread was generating at least N10 million monthly before he ventured into politics.

Eno said his experience in the business demonstrated how a modest venture could be developed into a substantial enterprise through innovation and patronage.

The governor’s disclosure during the state’s monthly covenant prayer service, was triggered by comments from First Lady Oluremi Tinubu, who had encouraged Nigerians to consider petty businesses, including akara, roasted corn and kuli kuli, as avenues for improving livelihoods.

Gov Eno , reflecting on his entrepreneurial experience before he entered public office, said that he initially sold akara and bread, which he branded “Akara Burger”, before expanding the venture into a coffee shop.

According to him, the business attracted strong patronage from workers, especially those heading to ExxonMobil in the morning.

He said customers would buy the akara and bread combination alongside coffee before proceeding to work, helping the business grow into a major source of income.

“At a point, that business was making not less than N10 million every month,” Eno said.

Related Topics:Featured Gov Eno Akara burger business

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Airtel Money Targets October Listing On London Stock Exchange

Airtel Money’s parent company is Airtel Africa, a telecoms provider that is part of the Indian conglomerate Bharti Enterprises, which is ultimately controlled by the billionaire Sunil Bharti Mittal.

Published

16 hours ago

September 23, 2026

OCHEFA

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Airtel Money, the mobile money arm of Airtel Africa, has concluded plans to float on the London Stock Exchange in October.

Airtel Money’s chief executive, Ian Ferrao, made the disclosure Wednesday emphasising that the company would announce more details about the float in early October, including the indicative price range and number of shares to be offered, with final pricing to follow later in the month.

Airtel Africa had originally targeted a listing in the first six months of 2026 but delayed it to the second half of the year, blaming unfavourable market conditions as a result of the US-Israeli war on Iran. Several other companies also pushed back planned IPOs amid the market volatility caused by the conflict.

The company is hoping to raise about $800m (£601m) from the initial public offering (IPO) and is targeting a valuation of $8bn to $9bn, which would make it one of London’s largest listings in recent years.

Airtel Money has 53 million monthly active users across 13 countries in sub-Saharan Africa, including Uganda, Zambia and the Democratic Republic of Congo.

It operates through a network of branches and kiosks, which enable customers to load money on to their phones, withdraw cash and access other money services, and the company generated revenues of just under $1.4bn in the last financial year.

Business

Cardoso Says Multiple FX Windows Cost Nigeria 3% of GDP, Higher Than Fuel Subsidy

Before the CBN introduced FX reforms in 2023 to unify exchange rates, Nigeria had different channels through which dollars could be bought and sold. Different rates applied to different users and transactions.

Published

21 hours ago

September 23, 2026

OCHEFA

16 Views

Central Bank of Nigeria Governor Olayemi Cardoso has estimated that Nigeria lost about three per cent of its gross domestic product to multiple foreign exchange windows.

Mr Cardoso spoke in Abuja on Tuesday while answering questions after the 307th meeting of the Monetary Policy Committee.

He put the losses from the fuel subsidy regime at about 2.2 per cent of GDP, meaning the two distortions together cost the country roughly 5.2 per cent of GDP.

The committee cut the benchmark Monetary Policy Rate to 23 per cent from 26.5 per cent, a decision the governor described as an important operational realignment aimed at strengthening monetary policy transmission.

Mr Cardoso compared the cost of the old exchange rate system to the fuel subsidy, which he said was already a staggering amount of money.

The losses that we were making as a result of these multiple exchange rate windows was more. It was 3 per cent of GDP. So between those, you had 5.2 per cent of GDP lost,” he said.