When Terra Industries, a Nigerian defence technology startup, recently announced an $11.75 million funding round led by Silicon Valley venture firm 8VC, many celebrated it as a triumph of Nigerian innovation. Co-founded by 22-year-old Nathan Nwachuku and 26-year-old Maxwell Maduka, Terra is currently protecting assets valued at approximately $11 billion across Nigeria—hydropower plants, mines, and…
In the bustling industrial estates of Ikeja, Agbara, and Ota, a quiet crisis is unfolding. It is not a crisis of capability; Nigerian pharmaceutical manufacturers are among the most resilient and resourceful in the world. It is not a crisis of demand—with a population of over 200 million, the market for essential medicines is vast…
Walk into any policy discussion on Nigerian manufacturing, and you’ll hear the same refrain: local producers need protection from imports. Poultry farmers want tariffs on frozen chicken. Fish processors demand import restrictions. Local refineries want tariffs on imported fuel. Textile manufacturers plead for border controls. The pattern repeats across nearly every sector of the economy….
The 2025 Nobel Prize in Economics has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for explaining how innovation drives sustained economic growth. Their research reveals a profound truth: for the first time in human history, the last two centuries have witnessed continuous economic growth that has lifted vast numbers out of poverty….
