Nigeria has hosted Africa's first AfCFTA Digital Trade Protocol Hackathon, bringing together tech innovators, researchers, and trade experts to create practical solutions for trade barriers affecting the informal sector and small businesses. Th… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria hosts first digital trade hackathon to unlock AfCFTA benefits for small businesses By sbinsights on May 4, 2025 Nigeria has hosted Africa's first AfCFTA Digital Trade Protocol Hackathon, bringing together tech innovators, researchers, and trade experts to create practical solutions for trade barriers affecting the informal sector and small businesses. The event, held as part of the 2025 Science of Trade (SOT) Conference in Lagos, focused on using innovation to tackle longstanding trade issues such as poor logistics, infrastructure gaps, complicated documentation, and lack of product certification. Olusegun Olutayo, a senior trade expert at the Nigerian AfCFTA Coordination Office, said the hackathon aimed to spark homegrown solutions to real trade challenges and bridge the digital divide affecting millions of African traders and SMEs. Read also Nigeria hosts first digital trade hackathon to unlock AfCFTA benefits for small businesses FCCPC says it won't back down as WhatsApp's parent threatens exit over $220m fine Ogun strengthens business infrastructure as state records six-year investment surge Lagos generates N582.45bn in q1 2025, meets 79% of revenue target AFDB commits $650m to boost Nigeria's economy, support small businesses "This is about more than policy," Olutayo said. "We're creating tools that solve real problems—like helping informal businesses access markets, get financing, and make digital payments." He noted that the event focused on seven key barriers to trade, and highlighted the importance of platforms like the Pan-African Payment and Settlement System (PAPSS), which allows cross-border transactions in local currencies and removes the need to convert naira to dollars for trade with other African countries. Olutayo added that a dedicated research budget would help scale the winning innovations from the hackathon, as Nigeria shifts focus to intra-African trade under the AfCFTA framework, seeking to reduce costs and open new markets for local businesses.

SMALL BUSINESS INSIGHTS © 2025. Manage your email settings or unsubscribe. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110

The Federal Competition and Consumer Protection Commission (FCCPC) has said it will not be intimidated by Meta's threat to exit Nigeria following a recent $220 million fine imposed on the company for violating consumer rights and data protection l… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader FCCPC says it won't back down as WhatsApp's parent threatens exit over $220m fine By sbinsights on May 4, 2025 The Federal Competition and Consumer Protection Commission (FCCPC) has said it will not be intimidated by Meta's threat to exit Nigeria following a recent $220 million fine imposed on the company for violating consumer rights and data protection laws. Meta, the parent company of WhatsApp and Facebook, had reportedly raised the possibility of leaving Nigeria in reaction to a court-backed penalty for engaging in discriminatory and exploitative practices against Nigerian users. Reacting to the development, FCCPC's Director of Corporate Affairs, Ondaje Ijageu, described the threat as a "calculated move" to manipulate public sentiment and exert pressure on the Commission to reverse its decision. According to the FCCPC, Meta and its subsidiaries repeatedly violated both the FCCPC Act and the Nigeria Data Protection Regulation (NDPR) by mishandling user data, transferring it without consent, applying unfair privacy policies, and treating Nigerian users differently from users in other regions. Read also FCCPC says it won't back down as WhatsApp's parent threatens exit over $220m fine Ogun strengthens business infrastructure as state records six-year investment surge Lagos generates N582.45bn in q1 2025, meets 79% of revenue target AFDB commits $650m to boost Nigeria's economy, support small businesses Bank to give Nigerians up to ₦1m extra every month Ijageu noted that while Meta had paid similar or higher fines in countries such as the U.S., E.U., and South Korea, the company never threatened to withdraw from those markets. "But in Nigeria, they are resorting to blackmail," he said. The FCCPC affirmed that its final order, backed by the Competition and Consumer Protection Tribunal, stands. It mandates Meta to revise its practices, comply with local laws, and respect Nigerian consumer rights in line with global standards. "The Commission remains resolute in ensuring fair digital markets and protecting consumer data," Ijageu said.

SMALL BUSINESS INSIGHTS © 2025. Manage your email settings or unsubscribe. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110

Ogun State Governor Dapo Abiodun says his administration has significantly ramped up infrastructure development and created a more attractive environment for businesses, leading to a sharp rise in industrial activity over the past six years. Abiodun,… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Ogun strengthens business infrastructure as state records six-year investment surge By sbinsights on May 3, 2025 Ogun State Governor Dapo Abiodun says his administration has significantly ramped up infrastructure development and created a more attractive environment for businesses, leading to a sharp rise in industrial activity over the past six years. Abiodun, who received the Distinguished Visionary Leadership Award from the Foreign Investment Network (FIN) at his office in Abeokuta, said more industries have relocated to Ogun in the last six years than during any previous administration. He attributed the progress to targeted reforms, including the creation of a Business Environment Council and the computerisation of the tax payment system to eliminate multiple taxations. Ogun is also one of six states selected for Special Agro Processing Zones in collaboration with the Federal Government, African Development Bank, Afreximbank, and Islamic Development Bank. The governor said his administration is working closely with the private sector to ensure the zones take off swiftly. Read also Ogun strengthens business infrastructure as state records six-year investment surge Lagos generates N582.45bn in q1 2025, meets 79% of revenue target AFDB commits $650m to boost Nigeria's economy, support small businesses Bank to give Nigerians up to ₦1m extra every month Lagos boosts SME export drive as Sanwo-Olu wins pro-SME Governor award "We've constructed over 1,200 kilometers of roads and built Nigeria's best-equipped airport, which is centrally located," Abiodun said. "We've also adopted a multimodal transport system linking air, road, sea, and rail, and the Agbado rail line is being extended into Ogun." He encouraged investors to explore the state's potential in agriculture, power, and manufacturing, and announced plans to involve FIN in organizing the upcoming Ogun Economic Summit. Chairperson of FIN, Dr. Olayinka Fayomi, commended the administration's economic impact and said the state's transformation in the last six years merited the leadership award.

SMALL BUSINESS INSIGHTS © 2025. Manage your email settings or unsubscribe. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110