Business
Shettima’s Investments Drive to Sweden: Gluwa, Ericsson Commit $100m, $19m for digital economy
Vice President Kashim Shettima, at a business forum in Sweden, on Thursday, marketed investments opportunities that abound in Nigeria, to Swedish investors.
During the event at Epicenter, Stockholm, Sweden, where he is currently on a two-day working visit aimed at boosting trade and bilateral relations between both nations, VP Shettima noted that Nigeria and Sweden have a time-honored history of cooperation, particularly in trade, technology, and sustainable development.
Shettima urged the prospective investors to to seize opportunities in Nigeria’s MSMEs, agriculture, digital economy, renewable energy, health and other critical sectors.
Shettima pointed out that the nation is now “an ambitious nation, bound by the limitless potential of the Fourth Industrial Revolution.
VP Shettima assured that the Tinubu administration has done much within the last year to brighten Nigeria’s investment climate, creating vast investment opportunities.
He said, “Distinguished guests, ladies and gentlemen, there is tremendous potential for collaboration between Nigeria and Sweden across multiple sectors.
Whether in finance, renewable energy, digital innovation, agriculture, or education, our partnership holds the promise of immense benefits for both nations.
I urge Swedish investors to seize the opportunities in Nigeria and work with us to build a prosperous and sustainable future.”
The Vice President urged the Swedish investors to deploy their expertise in technology and innovation to collaborate with Nigerian start-ups, driving growth and creating jobs, even as he stressed that the partnership between both countries can accelerate this transition.
On agriculture, he said while Nigeria is working to modernize the sector, Swedish expertise in agriculture technology could assist the nation in achieving this through investments in precision farming, mechanization, and value-chain development, with a view to improving productivity and food security.
In an address of welcome, the Vice President of Sweden, Edgar Luczak, Chairman, Partner & Head of Advisory, Epicenter, Sweden, noted that the future is digital and sustainable, assuring that the Epicenter was ready to engage not just in words but in action. According to him, through collaboration, both countries can build a stronger economy, create jobs, and most importantly, ensure a future for the generations to come.
“We hope we can take this opportunity to launch an accelerated programme that will not only follow in the footsteps of our other excellent programmes that we do with the likes of Google, Microsoft, Singapore, and other countries but create our own path to support Nigeria in its unique growth,” he added.
Gluwa Commits $100m
Mr. Akinola Jones, Director of Gluwa, a digital wallet service, said as part of its contribution to the Renewed Hope Agenda of the Tinubu administration, the company would train over 30,000 people in digital skills. Jones said they had already started training about 1,000 people in Jigawa state, adding that they are committing $100 million across Nigeria.
“We have a big vision for Nigeria, and I think our vision is banking the unbanked and connecting the unconnected. We see a situation where, once we launch our satellite in December this year, we can connect direct satellite to WiFi. This is going to be a very big win for Nigeria and a very big win for the technology ecosystem.
“We have given about $100 million in loans. It is not just about disbursing loans, it is not just about trying to grow portfolios, it is really about giving back. We are pushing for a lot of impact, and we are also working with the government and presidency to train people on digital skills,” he said.
Ericsson To Build $19m Tech Hub In Nigeria
The Managing Director of Ericsson Nigeria, Mr. Peter Olusoji Ogundele, has revealed the company’s plan to build a technology hub worth about $19 million in Nigeria.
He said, “Nigeria has enough youths that can come into that field. We can train them, Ericsson will also take part in it, and some of them we can export to the world, and we will be like another India. “
Ericsson was the first to have over 1,000 sites in Nigeria and continues to invest in the country. We have been here since 1978, and for us, our partnership is an enduring one.”
On her part, Ms. Anthonia Huard, Regional Director, North & West Africa, Energy & Transport Lead, said Nigeria has become the country’s focal point in Africa for optimal engagement.
“In order to be efficient in Africa, the organization focused on prioritizing markets of which Nigeria is one and matched the areas of focus of Sweden to the needs and focus of the countries for optimal engagement,” she stated.
Also, the Director, Project Accelerator, of Swedfund, Mr. Hakan Danhltor, expressed the organization’s commitment to reducing poverty and supporting sustainable development through investments in the private sector and in local private companies.
For her part, Mikaela Edstrom of the Swedish Export Credit Agency said the agency is closely watching the ongoing economic reforms taking place in Nigeria and views them as positive for the future. “We can, together with our sister organization, provide a world-class export credit system for Nigeria,” Edstrom pledged.
Vice President Shettima held bilateral talks with the Minister of Foreign Affairs, Maria Malmer Stenergard and Deputy Prime Minister of Sweden, Ebba Busch. These discussions focused on strengthening ties and exploring new areas of cooperation between Nigeria and Sweden.
Business
Wema Bank Announces Grand Event for International Women’s Day 2026 on March 4
Wema Bank, Nigeria’s oldest indigenous financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced it will host its highly anticipated 2026 International Women’s Day (IWD) Grand Event on Tuesday, March 4, 2026.
The event, described by the bank as the industry’s biggest celebration of its kind, aligns with the global IWD 2026 theme “Give To Gain.” Wema Bank has adopted the sub-theme “When Women Gain, We Grow,” emphasizing the transformative impact of supporting and investing in women across personal, professional, and societal levels.
According to Managing Director/CEO Moruf Oseni, the initiative underscores the bank’s long-standing commitment to women’s empowerment and gender inclusion, in line with United Nations Sustainable Development Goal 5.
Through its women-focused proposition, SARA by Wema (launched in 2019), the institution has consistently championed programs like SARA Gives and the Big Sister Graduation Challenge to uplift women at every stage.
The March 4 event is expected to feature keynote addresses, fireside chats, panel discussions, networking sessions, and opportunities to convene top women leaders from diverse industries alongside everyday women navigating their paths to success.
It aims to foster actionable conversations on empowerment, leadership, and collective growth.
Registration is now open via the official portal at wemabank.com/iwd, with the bank encouraging early participation to secure spots.
This announcement builds on Wema Bank’s history of impactful IWD celebrations and reinforces its dedication to promoting gender equality and women’s advancement in Nigeria and beyond.
Further details on the venue, speakers, and full agenda are expected to be released in the coming weeks.
Business
Dangote expands daughters’ roles as succession plan accelerates
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
• Aliko Dangote and his daughters
Aliko Dangote, Africa’s richest man, has assigned expanded leadership roles to his three daughters as part of preparations for the future of his industrial conglomerate, which he aims to grow into a $100 billion business within the next four years.
According to Business Day, an internal memo confirmed by a company spokesperson, Halima, Fatima and Mariya Dangote will take on broader responsibilities across key divisions of the Dangote Group, signalling a deliberate shift towards the next generation.
Fatima Dangote, the youngest, will assume a senior commercial role within the group’s energy division, which includes its Lagos-based oil refinery.
She will continue to oversee corporate communications and administration for the wider group.
Halima Dangote, who currently manages the family office in Dubai, will extend her oversight to its London operations while supporting the company’s international expansion efforts.
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
She will also take on responsibility for shaping strategy across the group’s food operations in all markets.
In the memo, the company said that the appointments were intended to “empower a new generation to take on expanded responsibilities in shaping our future.
”The changes mark a clear step in Dangote’s succession planning, transferring more operational authority to his daughters while he retains overall strategic control.
Business
Dangote Forecasts Major Naira Appreciation to ₦1,100 per Dollar in 2026
Africa’s richest man and Chairman of the Dangote Group, Aliko Dangote, on Tuesday projected a significant strengthening of the Nigerian naira, forecasting it could rally to as low as ₦1,100 per US dollar within 2026, driven by government reforms, import restrictions, and increased local production.
Speaking at the official launch of the National Industrial Policy 2025 in Abuja, attended by Vice President Kashim Shettima and other dignitaries, Dangote expressed optimism about the currency’s trajectory amid ongoing economic measures.
“Today, the dollar is N1,340. Mr Vice-President, I can assure you that, with what I know, by blocking all this importation and so on, the naira this year will be as low as N1,100 if we are lucky,” Dangote stated, according to multiple reports from the event.
He attributed the potential appreciation to reduced foreign exchange demand from imports, as local manufacturing ramps up including contributions from his own Dangote Petroleum Refinery, which is scaling toward full capacity. Dangote praised recent policy directions for beginning to yield positive results, noting that manufacturers are increasingly optimistic.
The forecast comes as the naira has shown signs of stabilization in recent weeks, trading around ₦1,300–₦1,340 to the dollar in official and parallel markets, a marked improvement from higher levels earlier in the year.
Dangote suggested that sustained import controls and industrial growth could push the currency even further, potentially toward ₦1,000 per dollar under ideal conditions, though he cautioned that policy consistency would be key.
The remarks align with broader optimism in some quarters, including from billionaire Femi Otedola, who recently projected the naira could trade below ₦1,000/$ before year-end, largely crediting the Dangote Refinery’s role in cutting dollar outflows for fuel imports.
Dangote also highlighted challenges, emphasizing the need for reliable power supply and continued government incentives to support industrial expansion and sustain the projected currency rally.
Analysts view the prediction as bullish but contingent on factors like forex policy enforcement, oil revenues, and global commodity prices.
The naira’s performance has been volatile in recent years due to external pressures and domestic structural issues, but recent CBN interventions and refinery developments have fueled renewed confidence among investors.
The statement has sparked discussions on social media and economic forums, with many welcoming the positive outlook while others call for concrete actions to realize such gains for everyday Nigerians facing inflation and import costs.
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