Issue: Edition #147
ABC Events
Strengthening Infrastructure and Trade: ABC Applauds Landmark UK–Nigeria Port Financing Agreement
The American Business Council Nigeria (ABC) acknowledges and celebrates the recent signing ceremony between UK Export Finance and the Nigerian Ports Authority, supported by Citi. This milestone marks a significant step forward in strengthening Nigeria’s infrastructure and enhancing the efficiency of its critical port systems.
The agreement, signed by Nigeria’s Honourable Minister of Finance, Wale Edun, and the UK’s Minister for Small Business and Economic Transformation, Blair McDougall, underscores the strength of the UK–Nigeria bilateral partnership. It also highlights the important role of global financial institutions, including U.S. partners, in supporting infrastructure development and economic growth in Nigeria.
Through this Memorandum of Understanding, which unlocks £746 million in financing from UK Export Finance, the long-anticipated modernization of the Apapa and Tin Can Island ports in Lagos is set to move forward. With support from Citi and British Steel, the initiative is expected to drive improved port efficiency, expand capacity, and strengthen Nigeria’s position within global trade flows.
ABC also notes the growing interest of international financial institutions in Nigeria, including plans by another U.S.-based global bank to expand its footprint through the establishment of a merchant banking presence in the country.
The Council remains committed to highlighting the contributions of U.S. companies in mobilizing investment, strengthening trade corridors, and advancing sustainable economic development in Nigeria.
Celebrating Excellence in Literacy: ABC Supports the 2026 Scripps Spelling Bee Nigeria
The American Business Council Nigeria (ABC) proudly supported the second edition of the Scripps Spelling Bee Nigeria, held on March 21, 2026. The competition brought together 110 finalists from 18 schools across four states, all demonstrating exceptional language proficiency and academic excellence. At the end of the contest, Newton and Amir emerged as national champions and will go on to represent Nigeria at the global competition in the United States.
The event featured goodwill remarks from U.S. Consul General Rick Swart and his wife, as well as Lai Koiki, Executive Director of Greensprings School. The initiative also received support from the Rotary Club, while ABC’s CEO, Margaret Olele, delivered a written goodwill message in recognition of the importance of the program.
The ABC Secretariat played an active role in ensuring the smooth execution of the event, particularly by supporting the collation of results.
This initiative underscores the importance of education and youth development, while spotlighting the remarkable potential of Nigeria’s young minds. ABC congratulates the winners and all participants for their outstanding achievements and celebrates the continued growth of an initiative that promotes literacy, learning, and excellence.
Driving Financial Literacy and Economic Empowerment: ABC at the 2026 WISE Money Fair
The American Business Council Nigeria (ABC) partnered with Nairametrics for the 2026 WISE Money Fair, held on March 17–18, bringing together a diverse mix of public and private sector stakeholders, alongside students from tertiary institutions, for a dynamic and impactful engagement.
The two-day event created a vibrant investment marketplace where participants connected directly with financial institutions, deepened their understanding of financial systems, and explored practical pathways to wealth creation. It served as a valuable platform for knowledge exchange and increased access to financial opportunities.
As part of its participation, ABC hosted an exhibition space featuring member companies, Touch and Pay and Uconnect. Both organizations engaged actively with attendees, showcased innovative solutions, and contributed meaningfully to the overall success of the fair. In addition, Joy Lawal, representing the ABC Secretariat, delivered insights during a session highlighting the Council’s work and its ongoing contributions to advancing financial literacy in Nigeria.
ABC is proud to have supported an initiative that champions financial literacy, inclusion, and economic empowerment. The Council looks forward to strengthening partnerships that continue to drive sustainable growth and broaden access to economic opportunities.
American Business Council Nigeria Hosts Atlantic Black Chamber Delegation
The American Business Council Nigeria hosted representatives of the Atlantic Black Chamber on March 9, 2026, at the American Guest Quarters, in a strategic engagement aimed at strengthening U.S.–Nigeria business relations. The meeting was also attended by representatives of the U.S. Consulate.
The session was chaired by Adebisi A., Chairman of the Council’s Sustainability Committee and Managing Director of Dow, who highlighted the Council’s ongoing commitment to promoting trade and investment between Nigeria and the United States.
In his remarks, he noted that Nigeria’s investment landscape remains dynamic, supported by ongoing economic reforms and a large, growing consumer market. He emphasized several high-growth sectors where reforms are yielding tangible progress, including banking and finance, digital technology, real estate and infrastructure (across commercial, residential, and industrial segments), agriculture and manufacturing, as well as the creative sector, spanning film, music, fashion, and tourism.
Adebisi further underscored that the Nigerian Government is prioritizing economic diversification, industrialization, and private sector-led growth, positioning the country as an increasingly attractive destination for investment.
He also emphasized the importance of sustained collaboration with international partners to unlock long-term, inclusive growth and enhance Nigeria’s global competitiveness.
American Business Council Nigeria Participates in 3rd Annual FDI Roundtable at Aso Villa
The American Business Council Nigeria participated in the Third Annual Existing Foreign Direct Investment (FDI) Roundtable, hosted by the Presidential Enabling Business Environment Council (PEBEC) Secretariat on March 5, 2026, at the Aso Villa Banquet Hall.
Held under the theme, “Strengthening Security, Reforming Tax & Customs, and Advancing Fiscal Policy for Investor Confidence,” the Roundtable convened key stakeholders across the public and private sectors to examine Nigeria’s investment climate and identify actionable pathways for reform.
The high-level engagement brought together foreign investors, Chambers of Commerce, senior Federal Government officials, and representatives of foreign missions, including Joseph Giblin of the U.S. Embassy. Discussions focused on addressing critical challenges while strengthening investor confidence in Nigeria’s business environment.
Key Highlights from the Roundtable:
Mr. Ibrahim Hadejia, Deputy Chief of Staff to the President, reaffirmed the Federal Government’s commitment to improving the ease of doing business.
Princess Zahrah Mustapha Audu, Director General of PEBEC, emphasized the need for practical and implementable reforms.
Dr. Zacch Adedeji, CEO of the Nigeria Revenue Service, provided updates on ongoing tax reform initiatives.
Mr. Bashir Adewale Adeniyi, Comptroller-General of Customs, highlighted reforms and innovations within the Nigeria Customs Service.
The Inspector General of Police, represented at the event, shared insights on national security efforts.
Mr. Taiwo Oyedele, representing the Presidential Committee on Fiscal Policy & Tax Reforms, alongside the Honourable Minister of State for Finance, addressed key concerns around tax laws and fiscal policy.
Central discussions focused on national security, tax reform, customs efficiency, and fiscal policy clarity—all critical drivers of Nigeria’s global competitiveness and long-term economic growth.
Speaking on the significance of the engagement, President Nneka Enwereji noted that the Roundtable continues to serve as an important platform for dialogue, enabling stakeholders to advance practical reforms that reduce investment risks and unlock new business opportunities.
The American Business Council Nigeria commends PEBEC for its continued leadership in fostering a more enabling and investor-friendly business environment.
American Business Council Nigeria Welcomes Cadbury Nigeria PLC
The American Business Council Nigeria is pleased to announce the addition of Cadbury Nigeria PLC, a subsidiary of Mondelēz International—a leading U.S.-based company and one of the world’s largest snacking businesses—to its growing network of members.
Established on January 9, 1965, just five years after Nigeria’s independence, Cadbury Nigeria has built a strong legacy of excellence and innovation. The company became publicly listed in 1976, with its shares traded on the Nigerian Stock Exchange (NSE), further solidifying its presence in Nigeria’s corporate landscape.
Today, Cadbury Nigeria remains a trusted household name, delivering a wide range of beloved products, including Cadbury Bournvita (its flagship brand), Cadbury 3-in-1 Hot Chocolate Drink, TomTom Classic, TomTom Freshlime, Cadbury Buttermint, Cadbury Caramel, Cadbury Coffee, and Clorets.
The company’s commitment to excellence extends beyond its products. Cadbury Nigeria has been recognized as a Top Employer in Nigeria by the Amsterdam-based Top Employers Institute and consistently ranks among the Top 100 Companies in Nigeria and the 100 Best Companies to Work for in Nigeria.
We are delighted to welcome Cadbury Nigeria PLC to the Council and look forward to the value and insights they bring to our vibrant business community.
Nigeria–U.S. Trade & Investment Growth
Key Takeaways:
The U.S. Consulate recognized a Nigerian firm as a strong example of effective U.S.–Nigeria business collaboration, highlighting the impact of private sector partnerships. The endorsement reflects growing confidence in Nigeria’s investment climate and underscores the importance of innovation, sustainability, and local–global cooperation in driving economic growth.
What does this mean for American Businesses?
The article signals that Nigerian businesses have growing opportunities to gain international recognition and attract U.S. partnerships. It highlights the importance of adopting global best practices, innovation, and strong local–international collaboration to remain competitive and unlock new investment.
Want to read the full article? [https://thenationonlineng.net/us-consulate-endorses-firm-as-model-for-us-nigeria-partnership/#google_vignette]
Business Updates
$15m BII funding targets Nigeria’s power gap, renewable
The investment will be deployed in Starsight’s existing West African operations to support growth, strengthen operations and scale energy solutions for commercial and industrial users, with Nigeria expected to receive most of the funding.
Industry stakeholders say the funding could help address the persistent electricity challenges facing Nigeria’s productive sector, where unreliable grid supply has forced many businesses to rely heavily on diesel and petrol generators for power.
What This Means for Nigerian Businesses:
The $15M investment highlights growing international confidence in Nigeria’s renewable energy sector, creating new opportunities for businesses to access cleaner and more reliable power and It signals a shift away from costly diesel dependence toward sustainable energy solutions, which can lower operating costs and improve efficiency for companies. For Nigerian businesses, it opens doors to partnerships, innovation, and participation in the expanding clean energy value chain.
Want to read the full article? [https://guardian.ng/energy/15m-bii-funding-targets-nigerias-power-gap-renewable/]
Global Investors Hail Nigeria’s Economic Reforms
Speakers at the Africa Capital Forum at The Peninsula London, have commended reforms in the Nigerian financial sector, describing them as “credible”.
The speakers made commendations at the forum, which was jointly hosted by the Central Bank of Nigeria (CBN) and the UK Foreign, Commonwealth and Development Office (FCDO), on the sidelines of the State Visit of President Bola Ahmed Tinubu to the United Kingdom. The forum is themed: “From Stabilisation to Capital Mobilization.
What This Means for Nigerian Businesses:
Global investors are praising Nigeria’s recent economic reforms, signaling increased confidence in the country’s business environment. For Nigerian companies, this could mean easier access to financing, more foreign investment, and stronger long-term growth opportunities. Stable policies and a stronger financial sector also reduce business risk.
Want to read the full article? [https://leadership.ng/global-investors-hail-nigerias-economic-reforms/]
Digital tax systems reshape enforcement as Nigeria targets higher revenue
The shift comes as the government intensifies efforts to expand non-oil revenue and meet ambitious fiscal targets, with authorities increasingly relying on technology-driven enforcement rather than higher tax rates.
At the centre of this transition is the Federal Inland Revenue Service (FIRS), which has begun deploying digital tools to analyse financial transactions, reconcile tax filings and detect discrepancies between reported income and actual economic activity.
What This Means for Nigerian Businesses:
It means the Nigerian government is moving tax enforcement into the digital age by using banking, payments and corporate data to spot under‑reporting, automate compliance, and widen the tax base — aiming to boost non‑oil revenue and make enforcement more efficient. For Nigerian businesses, that implies greater transparency, stronger tax reporting requirements, higher compliance costs in the short run, and less ability to avoid taxes through manual reporting — but also clearer systems and a more predictable tax environment over time.
Want to read the full article?
Nigeria advances in carbon markets with Solad’s first international renewable energy certificate sale
Solad Power Group, through its subsidiary Solad Integrated Power Solutions (Solad), has marked a major milestone in Nigeria’s clean energy transition with the successful sale of its first International Renewable Energy Certificates (I-RECs).
Facilitated through a partnership with Rivy, a leading energy-finance platform, this achievement underscores both Solad’s emerging climate leadership and the importance of Nigeria’s expanding carbon market.
What This Means for Nigerian Businesses:
It means Nigeria is beginning to participate in global carbon markets, with a company successfully selling International Renewable Energy Certificates (I‑RECs) — tradable credits for clean power generation — which signals growing foreign investor confidence in renewable energy and sustainability initiatives in the country. For Nigerian businesses, this opens new revenue streams through carbon finance, encourages investment in clean energy projects, and supports participation in global climate‑linked markets as sustainability becomes more commercially valuable.
Want to read the full article?[https://businessday.ng/news/article/nigeria-advances-in-carbon-markets-with-solads-first-international-renewable-energy-certificate-sale/]
Startup Updates
Nigeria’s iDICE Startup Bridge launches with grants and $100,000 equity
Nigeria’s federal government has launched the iDICE Startup Bridge, a structured two-track initiative that will offer idea-stage founders grants of up to ₦10 million ($7,215) and equity investment of $100,000 for post-MVP startups, with applications for the first cohort now open.
Implemented through the Bank of Industry and financed by the African Development Bank, Agence Française de Développement, and the Islamic Development Bank, iDICE Startup Bridge operates under the broader Investment in Digital and Creative Enterprises (iDICE) program, a federal initiative tied to Nigeria’s digital economy agenda.
After unbundling, Nigerian fintechs are building full-stack financial services
A decade ago, Nigerian fintech startups set out with an ambitious goal to disrupt the country’s financial services industry. At the time, digital payments were unreliable, financial services were slow, and access was largely limited to urban centres. Consequently, millions of Nigerians remained excluded from formal banking.
Tapping into the Central Bank of Nigeria’s financial inclusion mandate, these startups positioned themselves as challengers to traditional banks. Their mission was simple but far-reaching: bank the unbanked. Their strategy, however, was anything but broad.
Upcoming Events
Join ABC Nigeria to Celebrate International Women’s Day
In honor of International Women’s Day, the American Business Council Nigeria (ABC) will host an exclusive gathering of women leaders, industry professionals, and change-makers for a meaningful conversation on:
Theme: Driving Economic Growth Through Women’s Leadership, Competence & Opportunity
This event will explore how mentorship, commitment, competence, and opportunity can advance women’s leadership and contribute to economic growth. Attendees will have the chance to engage with inspiring leaders and professionals shaping industries across Nigeria.
Event Details:
Date: March 26, 2026
Time: 9:00 AM
Venue: Shared upon RSVP
Sponsored by: Delta Air Lines
Partners: Pier Harbour, Women in Energy Network, American Women’s Network
Don’t miss this opportunity to connect, learn, and celebrate women driving positive change in business and society.
American Business Council Nigeria Partners with Microsoft for 2026 Cybersecurity Hackathon
The American Business Council Nigeria is pleased to announce its partnership with Microsoft for the 2026 Cybersecurity Hackathon, scheduled to culminate on Thursday, April 9, 2026.
This exciting initiative will bring together cybersecurity enthusiasts, early-career tech professionals, and students, offering them a platform to test their skills by tackling real-world cybersecurity challenges.
Participants will have the opportunity to:
Address practical cyber threat scenarios
Showcase expertise in threat detection and ethical hacking
Collaborate in teams of 3–5 members to develop innovative solutions
Key Dates:
Application Deadline: March 20, 2026
Hackathon Kick-off: March 27, 2026
Grand Finale: April 9, 2026
This hackathon is designed to inspire innovation, strengthen cybersecurity capacity, and empower the next generation of tech leaders to help secure the digital future.
Interested participants are encouraged to register here: https://lnkd.in/dhBAeyqR
The Council extends its appreciation to its partners and sponsors, Microsoft and Cisco, for their support in making this initiative possible.
The American Business Council is your voice for strengthening US-Africa business ties. We encourage you to: