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Ugandan Tech Firm Engo Holdings Expands International Footprint with Smartphone Exports

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Ugandan Tech Firm Engo Holdings Expands International Footprint with Smartphone Exports

Ugandan information and communications technology (ICT) company Engo Holdings Limited is making significant strides on the global stage, exporting smartphones to international markets.

In 2020, Engo Holdings shipped 18,000 smartphones to Morocco, marking a notable achievement for a homegrown tech company. The firm has since broadened its reach, targeting new markets including Hungary, as it continues to strengthen its international presence.

The company’s success underscores Uganda’s emerging role in the global technology sector, demonstrating how local innovation can compete beyond domestic borders. Industry observers say such developments highlight the potential of African tech firms to contribute to economic growth, generate employment, and enhance the continent’s technological reputation.

Engo Holdings’ expansion serves as a benchmark for other local ICT firms aspiring to reach global markets, signaling growing confidence in Uganda’s capacity to produce competitive technology products for international consumers.

CPPE Urges Senate to Halt Proposed Excise Duty Hike on Soft Drinks, Citing Threat to Economic Recovery

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CPPE Urges Senate to Halt Proposed Excise Duty Hike on Soft Drinks, Citing Threat to Economic Recovery

The Centre for the Promotion of Private Enterprise (CPPE) has called on the Senate Committee on Finance to withdraw its plan to amend the Customs and Excise Act to raise excise duty on non-alcoholic beverages, warning that the measure could undermine Nigeria’s fragile economic recovery.

In a statement released Monday by CPPE CEO Dr. Muda Yusuf, the think tank argued that increasing tax burdens on soft drink manufacturers is poorly timed and inconsistent with the nation’s current economic realities. The group cautioned that the proposed hike could weaken the manufacturing sector, strain consumers, and derail ongoing recovery efforts.

“The current economic realities render the proposal counterproductive and potentially harmful to national economic recovery and the welfare of the people,” the statement said.

CPPE emphasized that fiscal measures must be carefully aligned with broader macroeconomic conditions. “Fiscal tools must remain flexible and responsive to prevailing macroeconomic conditions. Nigeria is currently navigating a fragile economic recovery pathway. The manufacturing sector, a vital engine of employment and growth, needs policies that support stability, competitiveness, and resilience,” it stated.

The group highlighted the potential impact on the beverage industry, which provides thousands of direct jobs and even more indirect employment. CPPE warned that higher production costs, reduced profitability, factory closures, and possible layoffs could result if the excise duty increase is implemented.

“The proposed increase in excise duty on non-alcoholic beverages threatens to undermine these objectives, jeopardizing livelihoods, welfare, investment, and long-term industrial development,” the statement concluded.

The call comes shortly after the Senate proposed the amendment to raise excise duties, a move CPPE describes as misaligned with Nigeria’s economic priorities.

Nigeria Classified as “Critical” on 2025 Instability Risk Index by SBM Intelligence

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Nigeria Classified as “Critical” on 2025 Instability Risk Index by SBM Intelligence

Nigeria Rated “Critical” on 2025 Instability Risk Index by SBM Intelligence

Nigeria has been classified as “Critical” on the 2025 Instability Risk Index, according to a new assessment by global risk consultancy SBM Intelligence. The rating signals heightened concern over the country’s political, security, and socio-economic environment in the coming year.

SBM Intelligence highlighted persistent security challenges, including rising insurgency, banditry, and communal conflicts, as key factors driving the elevated risk profile. In addition, political tensions, economic pressures, and governance weaknesses were cited as compounding the nation’s vulnerability to instability.

The firm warned that without decisive policy interventions and strengthened security measures, Nigeria could face increasing social unrest and business uncertainty, potentially affecting investment inflows and economic growth.

The “Critical” rating places Nigeria among countries at the highest risk level for instability, underscoring the urgent need for coordinated government action and stakeholder engagement to mitigate threats to national stability.

Nigeria’s Tax Reform Efforts Threatened by Poor SME Documentation, ICAN Warns

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Nigeria’s Tax Reform Efforts Threatened by Poor SME Documentation, ICAN Warns

Nigeria’s drive to establish a sustainable and transparent tax ecosystem faces significant hurdles as a large proportion of Small and Medium Enterprises (SMEs) continue to operate without proper documentation, industry experts have warned.

Dr. Haruna Nma Yahaya, President of the Institute of Chartered Accountants of Nigeria (ICAN), raised the concern during the 2025 Professional Services Group & Advocacy Tax Symposium organized by the Chartered Institute of Directors (CIoD) last week.

Yahaya emphasized that SMEs, which form the backbone of Nigeria’s private sector, often operate with weak record-keeping systems, inadequate financial documentation, and limited compliance frameworks. He noted that the effectiveness of ongoing tax reforms depends heavily on the ability of SMEs to strengthen internal controls and embrace transparency, accountability, and accurate reporting.

“Capacity building must also target SMEs, which constitute the bulk of Nigeria’s private sector. Directors who lead these enterprises must champion record-keeping, financial literacy, and a culture of compliance. Nigeria cannot build a sustainable tax ecosystem if the backbone of the economy remains undocumented,” Yahaya said.

He further explained that with Nigeria’s tax administration moving increasingly toward digital platforms, SMEs that fail to maintain accurate financial records risk penalties, operational disruptions, and missed opportunities for growth. In a digital tax environment, poor data quality has shifted from being a minor inconvenience to a major business risk.

Yahaya’s comments underscore the urgent need for SMEs to modernize financial systems and adopt rigorous compliance practices if Nigeria’s broader tax reform agenda is to succeed.

UK Government to Launch Social-Security Reforms Targeting Employment Support and Benefit Eligibility

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UK Government to Launch Social-Security Reforms Targeting Employment Support and Benefit Eligibility

The United Kingdom is preparing to introduce a new round of social-security reforms as Prime Minister Keir Starmer sets out plans to reshape the country’s welfare system. Government officials say the measures will focus on expanding employment support, tightening benefit eligibility, and increasing funding for apprenticeships, with the aim of reducing long-term dependency on welfare and easing pressure on public finances.

According to briefings from Downing Street, the government intends to direct more resources toward job-placement services and skills programmes designed to help unemployed citizens re-enter the workforce. The new framework is expected to set clearer requirements for active job seeking, alongside closer monitoring of claimants who remain out of work for extended periods.

A central feature of the reform package is stricter eligibility for certain benefits. Ministers argue that the system needs stronger safeguards to ensure support is reserved for individuals who are unable to work or who are actively trying to secure employment. Officials say the goal is to balance compassion with accountability, while reducing cases of long-term reliance.

The government also plans to expand apprenticeship funding as part of a wider strategy to address skill shortages across key industries. The additional investment is expected to create more entry paths for young people and adults seeking career changes, while supporting sectors facing labour gaps.

Prime Minister Starmer is expected to outline the policy in full during an upcoming public address, framing the reforms as part of a broader effort to modernise welfare, improve economic participation, and strengthen the sustainability of Britain’s social-security system.

Africa Begins Rollout of Twice-Yearly HIV-Prevention Injection Offering Near-Total Protection

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Africa Begins Rollout of Twice-Yearly HIV-Prevention Injection Offering Near-Total Protection

South Africa, Zambia, and Eswatini have begun administering a new HIV-prevention injection, marking a major advancement in efforts to curb the continent’s epidemic. The drug, lenacapavir, is a long-acting antiretroviral that provides near-total protection with just two doses per year. Health officials describe the rollout as one of the most significant breakthroughs in HIV prevention in decades.

Lenacapavir works by blocking the virus from entering healthy cells, effectively acting as an extended-release preventive therapy. Clinical trials indicate a protection rate of 99.9 per cent when the doses are taken as prescribed, making it one of the closest available tools to a practical HIV vaccine.

Initial public health programmes are targeting high-risk groups, including adolescent girls, young women, and communities with limited access to consistent HIV prevention services. Early reports from clinics indicate strong interest in the twice-yearly regimen, which is seen as far more convenient than daily oral preventive medication.

International health agencies have welcomed the rollout, emphasizing that Africa bears the highest HIV burden globally and stands to gain substantially from long-acting prevention methods. Experts expect lenacapavir to reshape national strategies, broaden prevention options for at-risk populations, and accelerate progress in reducing new infections.

Officials say plans are underway for broader distribution as supply expands and additional countries complete regulatory approvals, signalling a new phase in the continent’s fight against HIV.

Nigerian-American Kelechi Ndukwe Promoted to Commodore in the U.S. Navy

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Nigerian-American Kelechi Ndukwe Promoted to Commodore in the U.S. Navy

Nigerian-American naval officer Kelechi Ndukwe has reached a historic milestone, being promoted to the rank of Commodore in the United States Navy. The promotion reflects a distinguished career marked by technical expertise, leadership, and dedication to service, and has been celebrated in both Nigeria and the diaspora.

Throughout his career, Ndukwe has held several strategic and command roles within the U.S. Navy, earning recognition for his operational competence and contributions to key national security missions. His rise through the ranks demonstrates steady progression and the respect he commands within the service.

The achievement has drawn widespread praise, with many in Nigerian and diaspora communities viewing it as a symbol of professional excellence and a testament to the impact Nigerians continue to make in global institutions. Analysts note that Ndukwe’s career underscores the growing influence of Nigerian professionals in international defence and public service arenas.

His promotion is expected to inspire young Nigerians pursuing careers in science, engineering, and the military, highlighting the importance of persistence, rigorous training, and commitment to duty. Observers describe his story as an example of how disciplined preparation and leadership can lead to success on the world stage.

Nigeria’s GDP Grows 3.98% in Q3 2025 as Agriculture and Industry Show Recovery

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Nigeria’s GDP Grows 3.98% in Q3 2025 as Agriculture and Industry Show Recovery

Nigeria’s economy recorded a modest improvement in the third quarter of 2025, with the National Bureau of Statistics reporting a year-on-year GDP growth rate of 3.98 per cent. The figure edges past the 3.86 per cent posted in the same period of 2024, reflecting a steady, though gradual, recovery across key segments of the economy.

According to the NBS report, agriculture expanded by 3.79 per cent, a notable rise from the 2.55 per cent growth recorded in the third quarter of last year. Officials attributed the improvement to better seasonal conditions and continued support for primary production.

The industry sector also strengthened, posting a growth rate of 3.77 per cent compared with 2.78 per cent in the corresponding quarter of 2024. The bureau noted that stronger activity in manufacturing, mining, and energy supply contributed to the overall performance.

Services remained the largest contributor to national output. The sector grew by 4.15 per cent, slightly lower than the 4.97 per cent recorded a year earlier, but still maintained a dominant share of the economy. Services accounted for 53.02 per cent of total GDP during the period, compared with 52.93 per cent in the third quarter of 2024.

The NBS stated that the combined performance of the three major sectors underlines a stable outlook, supported by gradual improvements in production, trade, and broader economic activity.

Top 10 Fastest-Growing Sectors in Nigeria in Q3 2025

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Top 10 Fastest-Growing Sectors in Nigeria in Q3 2025

Nigeria’s economy recorded a mixed performance in the third quarter of 2025, but several key industries posted strong growth driven by domestic reforms, improving market conditions, and rising consumer activity. Recent figures from national economic trackers show that a combination of technology expansion, improved agricultural output, and greater private-sector participation helped sustain momentum across multiple sectors. The following overview highlights the ten industries that grew the fastest during the period.

**Information and Communications Technology**
The ICT sector remained one of the country’s strongest performers. Growth was supported by increased broadband penetration, ongoing investment in data centres, and the rapid expansion of digital services. Demand for fintech solutions, cloud infrastructure, and e-commerce platforms continued to rise as businesses shifted further toward technology-driven operations.

**Telecommunications**
Telecom operators experienced another quarter of steady expansion. Subscriber additions, network upgrades, and growing consumption of data services helped reinforce the sector’s position as a major contributor to GDP. Operators also invested heavily in rural coverage to meet regulatory targets and expand market access.

**Agriculture and Agro-processing**
Agriculture recorded improved output, helped by favourable weather, better access to inputs, and new state-level initiatives supporting small and medium-scale farmers. Growth was especially notable in crop production, livestock development, and early processing activities. The push toward mechanisation and value-chain integration also boosted the sector’s performance.

**Manufacturing**
The manufacturing sector posted gains tied to rising local demand, improved electricity supply in certain clusters, and increased uptake of locally sourced raw materials. Food and beverage production, pharmaceuticals, and household goods were among the best-performing segments. Government incentives for backward integration supported renewed investor interest.

**Transportation and Logistics**
Logistics operators benefited from a busier commercial environment. Expansion in e-commerce, improvements in some ports, and increased cargo movement helped lift sectoral output. Private investment in haulage, warehousing, and regional transport corridors provided additional support.

**Financial Services**
Banks and financial institutions continued to record growth driven by higher transaction volumes, increased lending activity, and sustained adoption of digital payment channels. Capital market activity strengthened as well, reflecting greater investor confidence in selected industries.

**Construction and Real Estate**
Construction companies saw increased activity linked to public infrastructure projects and the gradual recovery of the housing market. Road works, commercial building projects, and urban renewal schemes contributed to the sector’s expansion. Real estate developers also reported stronger demand in mid-range residential properties.

**Energy and Power Services**
The energy sector posted moderate but notable gains. Expansion in gas supply, improvements in generation capacity, and fresh interest in modular power projects provided momentum. Investments in renewable energy solutions, especially solar installations for commercial clients, added to the sector’s growth.

**Trade and Retail**
The trade sector benefited from improved inventory flows and a modest rise in consumer purchases. Retail operators recorded better foot traffic, while wholesalers enjoyed stronger linkages with manufacturing hubs. The sector’s performance reflected gradual economic stabilisation and improved supply chain efficiency.

**Mining and Solid Minerals**
Although facing regulatory scrutiny in several states, the mining sector still registered growth as new investors entered exploration activities under stricter oversight. Increased interest in limestone, gold, lithium, and other strategic minerals helped drive activity, supported by reforms aimed at formalising the value chain.

**Conclusion**
The performance of these ten sectors in Q3 2025 points to a gradual realignment of Nigeria’s economy toward technology-driven services, diversified production, and broader private-sector participation. While challenges remain, especially in inflation control and security conditions, the results show areas of resilience that are likely to influence economic planning in the coming quarters.

TotalEnergies Farms Out 40% Stake in Nigerian Deepwater Blocks to Chevron’s Star Deep Water Petroleum

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TotalEnergies Farms Out 40% Stake in Nigerian Deepwater Blocks to Chevron’s Star Deep Water Petroleum

TotalEnergies has entered a farm-out agreement to transfer a 40 percent interest in two offshore exploration licences, PPL 2000 and PPL 2001, to Chevron’s Star Deep Water Petroleum Limited. The agreement forms part of ongoing partnerships aimed at expanding activity in Nigeria’s deepwater sector.

The two blocs lie in the West Delta basin and were awarded to TotalEnergies following the 2024 Exploration Round. Together, they cover an estimated 2,000 square kilometres in a frontier area considered prospective for new hydrocarbon discoveries.

Industry officials note that the transfer will allow both companies to pool technical and financial resources as activities move toward seismic acquisition and early-stage appraisal work. The farm-out is subject to regulatory approval from the Nigerian Upstream Petroleum Regulatory Commission.

The move signals renewed interest in Nigeria’s offshore terrain, where joint ventures and strategic partnerships continue to shape the pace of exploration and development.

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