Business Hub: Markets, Money & Business stories for you

Nigeria isn't running out of investors. According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the bigger challenge is the shortage of startups that are ready to attract and manage investment. The agency says capital is available, but many businesses lack the structure, governance, financial records, and growth strategy investors expect. To address this gap, SMEDAN has launched a Training of Trainers programme that will produce certified entrepreneurship coaches to help founders build stronger, scalable businesses. The goal is simple: create more businesses investors are willing to back, not just more businesses looking for funding.

Nigeria's insurance industry is entering a new phase. More than 70% of insurance companies have completed NAICOM's independent capital verification exercise ahead of the July 31 recapitalisation deadline. The regulator says the exercise is designed to strengthen insurers and improve their ability to underwrite larger risks. Companies that fail to meet the new capital requirements are expected to explore mergers, acquisitions, or other restructuring options as the deadline closes in.

AMCON has formally started the process of divesting its stake in telecom operator NTEL. The corporation says the move is part of its broader strategy to return assets under its control to private investors. NTEL has struggled to compete in Nigeria's telecom market since launching operations, and a successful sale could bring in fresh capital, new management, and a clearer direction for the company. The divestment is expected to attract investors looking for opportunities in the telecom sector.

The naira weakened to ₦1,365.53 per dollar at the official foreign exchange market, while the parallel market remained around ₦1,415/$. Although the movement was modest, exchange rates continue to shape business decisions across the country. Companies that rely on imported goods, raw materials, or foreign payments remain sensitive to even small changes in the value of the naira, making currency stability a key issue for planning and pricing.

From policy changes to market movements, Nigeria's business environment is constantly evolving. We'll be back with another roundup of the headlines shaping the week.