Issue: Edition #144
ABC Events
ABC Nigeria Welcomes OIS Services as Newest Member
The American Business Council Nigeria is pleased to welcome OIS (Online Integrated Solutions) Services as its newest member. OIS is part of the MAG Group, which operates in over 20 countries worldwide, including the United States.
A technology-enabled partner to governments, OIS supports the delivery of public services through an extensive global network. The company’s service portfolio includes biometric enrolment, document verification, and the end-to-end management of logistical processes connecting citizens with government authorities.
OIS also specializes in the design, development, and implementation of advanced border control solutions. These include the establishment of Advanced Passenger Information Systems (APIS) and the deployment of Smart Gates to enable automated immigration clearance and strengthen national security operations.
ABC Nigeria Attends Farewell Reception in Honor of Benjamin Grunnet
The American Business Council Nigeria Secretariat, represented by Joy Lawal, recently attended a farewell cocktail reception hosted by the U.S. Deputy Chief of Mission, Mr. Keith Heffern, and Mrs. Carrie Heffern, in honour of Mr. Benjamin Grunnet.
The intimate event brought together colleagues from the U.S. Mission, representatives of corporate organisations, and friends of the U.S. Embassy.
The Council commends Mr. Grunnet for his invaluable support of advocacy initiatives on behalf of U.S. companies in Nigeria and extends best wishes as he embarks on the next chapter of his professional journey.
ABC Nigeria’s 2026 Strategic Priorities: A Year of Growth and Impact
As we enter 2026, the American Business Council Nigeria is setting a clear and ambitious agenda. Our priorities include strengthening advocacy to business-enabling reforms, expanding bilateral and regional trade, supporting start-ups and innovation-driven enterprises, deepening engagement across priority sectors, and continually enhancing the value we deliver to our members.
— Nneka Enwereji, President, American Business Council Nigeria
ABC Nigeria Hosts Farewell Reception for U.S. Ambassador Richard Mills Jr.
On 8 January 2026, the American Business Council Nigeria hosted a farewell reception in honour of the outgoing U.S. Ambassador to Nigeria, His Excellency Richard Mills Jr. The event was organised by the ABC Nigeria Secretariat in collaboration with the Economic and Political Team, with support from the U.S. Commercial Service, and held at the American Guest Quarters.
The gathering brought together the U.S. Consul General, Mr. Rick Swart; members of the Council’s Board; and CEOs and C-suite executives from U.S. companies operating in Nigeria. Highlights of the evening included remarks by Ambassador Mills, goodwill remarks by Board Member Adebisi A., Managing Director of Dow, on behalf of the Council’s leadership, as well as gift presentations by the Board and a special presentation from ExxonMobil.
ABC Nigeria Recognizes Sponsors of the U.S. Ambassador Farewell Event
The American Business Council Nigeria extends its sincere appreciation to the members who generously sponsored our recent farewell event in honour of the U.S. Ambassadors. We thank Westpaq International, TREXM Holdings, Black History and Lifestyle Awards (BHLA), and Bristol Scientific Company for their valued support.
The Future of U.S.-Africa Relations
Key Takeaways:
While the U.S. House of Representatives has voted to renew the African Growth and Opportunity Act (AGOA) and the Trump administration supports a one-year extension, this temporary renewal is not a return to the status quo nor a long-term solution for U.S.–Africa trade relations. African countries must prepare for a new era in trade, rather than expect business as usual.
What does this mean for American Businesses?
AGOA’s uncertainty signals a less predictable U.S.–Africa trade environment, pushing American companies to plan beyond preferential access. Businesses may need to shift toward bilateral partnerships, sector-specific deals (e.g. energy, critical minerals, manufacturing), and deeper local engagement in African markets. Overall, flexibility, diversification, and long-term investment strategies will matter more than reliance on trade preferences alone.
Want to read the full article? [https://carnegieendowment.org/emissary/2026/01/agoa-renewal-africa-us-trade-tariffs?lang=en]
Business Updates
Paystack Enters Nigeria’s Banking Sector Through Microfinance Bank Acquisition
Paystack has made its entry into Nigeria’s banking industry through the acquisition of Ladder Microfinance Bank, representing a significant strategic expansion from payment processing into deposit-taking and lending operations.
The rebranded Paystack Microfinance Bank (Paystack MFB) will function as a separate entity running parallel to Paystack’s existing payments infrastructure, positioning the fintech to provide loans, deposit accounts, and banking-as-a-service solutions while operating within microfinance regulatory frameworks.
Chief Operating Officer Amandine Lobelle indicated that Paystack MFB will prioritize business lending in its initial phase before broadening into consumer banking services.
This acquisition provides Paystack with enhanced oversight of settlement operations following ten years of payment processing for more than 300,000 Nigerian businesses, creating opportunities to cross-sell higher-margin banking services and extend credit using real-time transaction intelligence.
What This Means for Nigerian Businesses:
For Nigerian businesses, Paystack’s acquisition of Ladder Microfinance Bank and entry into the banking sector means they now have a homegrown fintech offering broader financial services beyond payments. This includes access to loans, deposit accounts, and faster credit decisions built on real‑time payment data — potentially helping close financing gaps for small and medium enterprises and offering more integrated digital financial tools. It also increases competition in Nigeria’s financial services space, which could lead to better products and pricing for local firms.
Want to read the full article? [https://www.techinafrica.com/paystack-enters-nigerias-banking-sector-through-microfinance-bank-acquisition/]
Atlanta Black Chambers appoints Orji as regional lead for Nigeria
The Global Opportunities Committee (GOC) of the Atlanta Black Chambers (ABC) has announced the appointment of Ijeoma Orji as its Regional Lead for Nigeria, effective October 1, 2025, as part of efforts to deepen economic cooperation, trade development and cross-border partnerships between Nigeria and the global Black business community.
According to the organisation the appointment underscores ABC’s strategic focus on Nigeria as a key market for investment, entrepreneurship and international collaboration.
In her new capacity, Orji will play a central role in advancing the GOC’s mandate to promote sustainable economic growth and strengthen commercial linkages between Black-owned businesses in Nigeria and their counterparts across the diaspora.
What This Means for Nigerian Businesses:
The Atlanta Black Chambers’ appointment of Ijeoma Orji as Regional Lead for Nigeria signals greater opportunities for Nigerian companies—especially Black‑owned and diaspora‑linked firms—to connect with global networks, access new trade and investment opportunities, and strengthen cross‑border commercial partnerships. By deepening economic cooperation and engagement with the global Black business community, the role could help open doors for collaboration, market exposure, and strategic partnerships that support growth and international competitiveness.
Want to read the full article? [https://guardian.ng/news/atlanta-black-chambers-appoints-orji-as-regional-lead-for-nigeria/]
First Bank unveils Nigeria Economic Outlook 2026, stresses resilience as winning factor for businesses
First Bank of Nigeria Limited, the commercial banking subsidiary of First HoldCo Plc, has hosted its annual Nigeria Economic Outlook, a high-level dialogue that shapes ideas, insights, and pathways for Nigeria’s economic journey through 2026.
The forum, held in Lagos on Tuesday, brought together prominent economists, subject-matter experts, business leaders, and finance professionals for discussions on the outlook for the Nigerian economy in 2026 and a review of the country’s economic landscape in 2025.
What This Means for Nigerian Businesses:
Nigerian companies should prioritise building resilience, adaptability, and strong financial discipline to navigate ongoing economic uncertainties and global fragmentation. Focusing on flexible cash‑flow management, diversified revenue streams, and customer‑centric strategies will help businesses survive and thrive in 2026’s complex environment. Leaders are also encouraged to shift mindsets toward innovation and strategic planning rather than short‑term transactional performance.
Want to read the full article?
Fortifying Nigeria’s business landscape with faith-based ethics
Against the backdrop of Nigeria’s shifting economic landscape, the Muhammad Rosulullah International has called for integration of spiritual integrity into the bedrock of national commerce.
The gathering, themed ‘The Ummuh Connection: Enhancing the Intersection of Faith-Based Principles and Business Practices’, brought together scholars, clerics and entrepreneurs to address a widening gap between Nigeria’s deep-seated religiosity and its struggling ethical business indicators.
At the 2026 Muhammad Rosulullah International Conference (MRIC), the founder, Sheikh Muktar Mohammed emphasized that “economic stability requires more than just policy, it demands a return to ethical faith. This core belief he said was the primary motivation behind organizing the event.
What This Means for Nigerian Businesses:
For Nigerian businesses: the piece highlights a growing conversation about integrating ethical and faith‑inspired values—such as integrity, transparency, and social responsibility—into commercial practices. By anchoring business conduct in strong ethical principles, companies can help rebuild trust in the market, improve competitiveness, and strengthen long‑term sustainability within sectors like banking, insurance, energy, and real estate. It underscores that Nigeria’s deep religiosity can become a source of ethical business standards, not merely personal belief, if actively applied in everyday enterprise.
Want to read the full article?[https://guardian.ng/features/friday-worship/fortifying-nigerias-business-landscape-with-faith-based-ethics/]
Nigerian business leader Ozoka promotes pan-African investment, others in Uganda
A Nigerian entrepreneur based in the United States, Dr. Odera Ozoka, has stepped up efforts to strengthen economic ties between Nigeria and East Africa, championing Pan-African investment and women-focused development initiatives in Uganda.
Dr. Ozoka recently joined Uganda’s Minister of Gender, Labour and Social Development, Betty Amongi, on the campaign trail in Northern Uganda, a move seen as reinforcing growing Nigerian–East African economic cooperation.
He has been appointed by Uganda’s ruling National Resistance Movement (NRM) to help attract international investors to the country.
What This Means for Nigerian Businesses:
For Nigerian businesses, the activities of Nigerian business leader Dr. Odera Ozoka in Uganda highlight expanding opportunities beyond Nigeria’s borders and the value of Pan‑African collaboration. His work promoting investment — especially in women‑led enterprises and cross‑regional partnerships — underscores the potential for Nigerian entrepreneurs to explore new markets in East Africa, attract international capital, and leverage diaspora networks for business growth and investment.
Want to read the full article?[https://thenationonlineng.net/nigerian-business-leader-ozoka-promotes-pan-african-investment-others-in-uganda/]
Startup Updates
Nigerian Mobility Startup MAX Secures $24 Million Following Achievement of Profitability
Metro Africa Xpress (MAX), a mobility financing company based in Nigeria, has closed a $24 million funding round comprising both equity and debt as it progresses with its shift toward electric mobility financing across West and Central Africa, following the achievement of profitability in its Nigerian operations.
The equity portion of the round attracted investment from Equitane DMCC, Novastar, Endeavor Catalyst, and additional global investors, while the debt component included asset-backed financing from the Energy Entrepreneurs Growth Fund (EEGF) alongside other development finance partners.
Nigeria’s startups get $343m of region’s $3.2b funding
Startups in Nigeria, South Africa, Kenya, Egypt and other parts of the region raised $3.2 billion in 2025, more than in 2024, 2023 combined.
New data from Africa: The Big Deal, released yesterday, showed that startup investment grew 40 per cent year-over-year (YoY) compared to 2024.
The growth also came after two consecutive years of decline, with startup investmentdropping 25 per cent YoY in 2024 ($2.2 billion) and declining 35 per cent YoY in 2023 ($3 billion).
The report revealed that in 2025, the big four (Egypt, South Africa, Kenya and Nigeria) attracted the majority (82 per cent) of all start-up funding on the continent.
Specifically, Kenya got the highest fund of $984 million (32 per cent); Egypt, $614 million (20 per cent); South Africa, $599 million (19 per cent) and Nigeria, $343 million (11 per cent).
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