The Project Herald | Intelligence on Projects & Business

World Bank Cancels $717m Nigeria Power Funding as Subsidy Burden Deepens Reform Crisis

Nigeria’s long-running electricity sector reforms have suffered a major setback after the World Bank and the Federal Government agreed to cancel $717.7 million in undisbursed financing under a major power sector recovery programme, in what officials describe as a mutual decision driven by stalled reforms and rising subsidy pressures. According to a detailed report by

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How Razaq Okoya Built Eleganza Into a Nigerian Manufacturing Powerhouse and What Young Entrepreneurs Can Learn

Long before startup culture, venture capital, and digital entrepreneurship became popular in Nigeria, some business builders were already shaping industries in silence. They were not chasing trends. They were studying everyday life and building companies around it. One of the clearest examples of this approach is Razaq Okoya, the founder of Eleganza Group. His story

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Otti Unveils ₦306 Million Tech-Enabled Grant to Boost Businesses in Abia

Abia State Governor, Alex Otti, has launched a ₦306 million technology-driven business support programme aimed at strengthening entrepreneurship, expanding digital access, and improving productivity across the state’s 17 local government areas. The initiative, known as the NKATA Tech-Enabling Business Grant, is designed to support small and medium-sized enterprises (SMEs) by integrating technology into their operations,

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THE $20 BILLION GAMBLE

How One Refinery Could Reshape Nigeria’s Economic Future For decades, Africa’s largest oil-producing nation lived through one of its biggest contradictions: a country rich in crude oil, yet heavily dependent on imported fuel. Despite producing millions of barrels of crude, Nigeria continued exporting raw resources while importing refined petroleum products back into the country at

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Nigeria’s New Procurement Policy Sparks Fresh Debate Over Local Auto Industry Competitiveness

The Nigerian government’s newly introduced “Nigeria First” vehicle procurement policy is beginning to trigger wider conversations around the future of the country’s automotive industry and whether local manufacturers can finally compete more effectively against imported vehicles. Under the policy, Ministries, Departments, and Agencies are now expected to prioritise locally assembled vehicles for official procurement as

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Where Venture Capital Is Flowing in 2026

Where Venture Capital Is Likely to Flow in 2026: A Clear Investment Outlook for the New Quarter

As 2026 moves deeper into the year, global venture capital is showing a noticeable shift in direction. Investors are becoming more selective, focusing less on fast-moving hype cycles and more on sectors that can support long-term economic growth. The focus is now turning toward industries that combine real infrastructure, strong demand, and scalable technology. This

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Why Lagos Traffic Is More Than Just Too Many Cars

Why Traffic Congestion in Lagos Is More Than Just “Too Many Cars”

Lagos traffic has become one of those things people talk about almost daily, yet rarely pause to properly break down. For most commuters, the explanation seems simple: too many cars on too few roads. But when you look closely at how the city is structured and how it has grown over the years, the reality

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Emohua Foundation Expands Youth Projects in Rivers

Emohua Community Development Foundation Expands Youth Empowerment and Healthcare Projects in Rivers State

Community Development Efforts Gain Attention in Emohua The Emohua Community Development Foundation is drawing attention in Rivers State following a series of community development and youth empowerment initiatives aimed at improving education, healthcare, economic opportunities and infrastructure across communities in Emohua Local Government Area. The foundation, which focuses on sustainable grassroots development, has continued to

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Top 50 Young Innovators in Rivers State 2026: Meet the Youths Driving Change Through Technology, Business and Community Impact

Rivers State’s Young Innovators Are Building the Future From technology and education to fashion, agriculture, media and community development, young people across Rivers State are increasingly creating ideas and projects that are solving real problems and inspiring others. In recent years, the state has seen a rise in youth-led startups, digital creators, student founders, social

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Abia Governor Alex Otti Urges Youths to Acquire Digital Skills Instead of Relying on Certificates

Abia State Governor, Dr. Alex Otti, has advised young Nigerians to focus on acquiring practical digital and entrepreneurial skills rather than depending solely on academic certificates to succeed in today’s competitive economy. The governor gave the charge during the launch of TechRise Cohort 3, a digital empowerment programme designed to train 850 youths across Abia

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