How To Launch A Profitable Ice Cream Business In Nigeria Amid Market Challenges

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How To Launch A Profitable Ice Cream Business In Nigeria Amid Market Challenges

Starting an ice cream venture in Nigeria presents strong profit potential for entrepreneurs who can combine creativity with disciplined business planning. Despite rising competition and operational costs, the growing demand for chilled desserts in urban and semi-urban areas continues to make the sector attractive for new entrants willing to adopt smart positioning and compliance-driven operations.

A successful entry into the market begins with choosing the right business location. High-traffic environments such as shopping streets, school zones, entertainment hubs, and busy residential districts significantly improve customer flow. Factors such as visibility, ease of access, electricity stability, rent affordability, and proximity to target consumers play a major role in determining long-term business survival and daily sales performance.

The next critical step involves investing in reliable equipment and quality inputs. Ice cream machines, commercial freezers, blending units, and proper storage systems are essential for consistent production. Entrepreneurs must also focus on appealing presentation tools such as cones, cups, and branded packaging. Beyond traditional flavours, introducing locally inspired and innovative taste options can help businesses stand out in a crowded market and build strong customer loyalty.

Also read: https://brandspurng.com/2026/05/20/boxer-overtakes-pick-n-pay-in-market-value-as-south-african-retail-shift-deepens/

In a report by Brandspur Banking News Desk, industry experts emphasize that compliance and structure remain non-negotiable for food-based businesses in Nigeria. Operators are expected to register their enterprises with relevant authorities, obtain health and safety approvals, and secure necessary operational permits before launching. Failure to meet regulatory requirements can result in penalties or forced closure, making legal compliance a key pillar of sustainability.

Marketing also plays a decisive role in driving visibility and sales growth. Ice cream businesses that actively leverage social media platforms, customer referrals, and local advertising tend to scale faster than those relying solely on walk-in traffic. Strategic branding, seasonal promotions, and customer engagement campaigns help build a loyal consumer base over time.

Ultimately, the ice cream industry in Nigeria rewards entrepreneurs who combine location intelligence, product quality, legal compliance, and strong marketing execution. With the right structure and consistency, the business can grow into a stable and highly profitable food enterprise in both emerging and established markets.

Boxer Overtakes Pick n Pay In Market Value As South African Retail Shift Deepens

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Boxer Overtakes Pick n Pay In Market Value As South African Retail Shift Deepens

South African discount retailer Boxer has surged past its parent company, Pick n Pay, in market valuation, highlighting a major shift in consumer spending patterns and the growing dominance of value-focused retail brands in the country.

The retailer’s valuation climbed to nearly R38.8 billion, more than double Pick n Pay’s market worth on the Johannesburg Stock Exchange, underscoring investor confidence in Boxer’s low-cost, mass-market strategy amid persistent economic pressure on households.

The development reflects changing shopping habits across South Africa, where consumers are increasingly prioritising affordability, convenience and accessible retail experiences as inflation and living costs continue to squeeze disposable income.

Also read: https://brandspurng.com/2026/05/20/nigeria-files-n66-4-billion-tax-fraud-charges-against-saipem-contracting-directors/

According to Brandspur Brand News, Boxer’s rapid rise signals a broader transformation within South Africa’s retail sector, with discount and value-driven chains gaining stronger momentum over traditional supermarket formats struggling with declining consumer spending power.

Industry analysts say Boxer’s expansion strategy, competitive pricing model and growing relevance among everyday shoppers have positioned the retailer as one of the strongest performers in the country’s highly competitive grocery market.

The trend also points to a wider recalibration in retail investment, as investors increasingly favour brands that align closely with current consumer realities and purchasing behaviour.

Retail experts believe the battle for market dominance in South Africa will increasingly depend on which companies can balance affordability, accessibility and customer experience while adapting quickly to shifting economic conditions.

Nigeria Files N66.4 Billion Tax Fraud Charges Against Saipem Contracting, Directors

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Nigeria Files N66.4 Billion Tax Fraud Charges Against Saipem Contracting, Directors

The Federal Government of Nigeria has arraigned Saipem Contracting Nigeria Limited and two of its directors before the Federal High Court in Lagos over an alleged tax fraud valued at N66.4 billion and $938,080.

The six-count criminal charge accuses the company and its executives of failing to remit statutory taxes between 2014 and 2019, including Value Added Tax (VAT), Company Income Tax (CIT), and stamp duties allegedly owed to the Federal Government.

Court documents also allege that the defendants submitted false financial statements and tax records in a bid to conceal liabilities linked to the company’s operations during the period under investigation.

Also read: https://brandspurng.com/2026/05/19/americans-tap-hidden-household-wealth-as-economic-pressure-uncertainty-intensifies/

According to Brandspur Banking News Desk, the Federal Inland Revenue Service (FIRS), acting on behalf of the Federal Government, is seeking prosecution over what authorities described as deliberate tax evasion and financial misrepresentation involving billions of naira in unpaid obligations.

At the latest court sitting, counsel representing the defendants challenged the competence of the charges and filed a preliminary objection seeking to halt proceedings.

The trial judge subsequently adjourned the matter until June 29 for hearing of the objection and further proceedings in the case.

The development adds to growing regulatory scrutiny on corporate tax compliance in Nigeria, particularly involving multinational firms operating in the country’s oil and gas sector.

Americans Tap Hidden Household Wealth As Economic Pressure, Uncertainty Intensifies

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Americans Tap Hidden Household Wealth As Economic Pressure, Uncertainty Intensifies

With persistent inflation, elevated borrowing costs, market volatility,
and mounting economic uncertainty, a growing wave of artificial
intelligence technology is helping consumers identify overlooked sources
of wealth already sitting inside their homes. One emerging category
involves AI-powered tools that can instantly analyze and value physical
assets such as personal gold jewelry, transforming what was once
considered purely sentimental property into trackable, data-driven
financial intelligence at a time when many households are searching for
greater liquidity and financial flexibility without taking on additional
debt.

As gold prices continue hovering near historic highs and with an
estimated $750 billion worth of gold jewelry sitting in US households
per reports [1], experts say millions of Americans may be unknowingly
sitting on thousands of dollars in dormant household value with respect
to jewelry often forgotten in drawers, safes, or inherited collections
… or just generally unworn.

AI is now emerging as a practical consumer finance tool capable of
modernizing historically opaque valuation categories. AI-powered
valuation systems can analyze smartphone photos, identify metals and
gemstones, compare authenticated market data, and apply live commodity
pricing within minutes.

Unvault [2] co-founder Nidhi Singhvi is available to discuss broader
consumer finance, economic, and technology implications, including:

  • How AI is democratizing valuation intelligence previously limited to experts
  • Why soaring gold prices are changing consumer financial behavior
  • The rise of AI-powered personal asset management tools
  • Why jewelry remains one of the most overlooked assets on the household balance sheet
  • How consumers are reassessing unused jewelry amid inflation fatigue
  • Why some households are exploring existing assets before taking on additional debt
  • The growing shift toward treating jewelry as a trackable financial asset
  • How distrust in traditional resale channels is reshaping consumer behavior
  • Why transparency and real-time pricing are becoming increasingly important
  • How AI-powered valuation tools are changing financial awareness

Potential Story Angles

Also read: https://brandspurng.com/2026/05/19/mark-your-calendar-akada-childrens-book-festival-returns-may-23-2026/

  • Your Old Jewelry May Be Worth Far More Than You Think Right Now
  • Americans Are Sitting on Billions in Unused Gold Jewelry
  • How AI Is Helping Consumers Unlock Hidden Household Wealth
  • Before Taking on More Debt, Some Consumers Are Reassessing What They Already Own
  • Gold Prices Are Soaring. Here’s Why Consumers Are Checking Their Jewelry Boxes
  • AI-Powered Valuation Tools Are Changing Personal Asset Management

 [1]Technology and Market Shift

  • How AI and real-time market data are transforming jewelry valuation
  • The emergence of digital jewelry portfolios as a new category of personal finance
  • Why instant, photo-based valuations are changing consumer expectations
  • The role of transparency in rebuilding trust in resale markets
  • How standardization in pricing and authentication can expand the resale economy

Consumer Behavior and Financial Strategy

  • Why consumers should audit unused jewelry as part of financial planning
  • The importance of comparing valuation ranges instead of relying on single buyer quotes
  • How understanding intrinsic value changes selling decisions
  • The risks of leaving valuable assets untracked or uninsured
  • When it makes sense to hold, insure, or liquidate jewelry

Industry and Macro Trends

  • The influence of record gold prices on resale market activity
  • How retail markups distort consumer perception of value
  • The role of the Great Wealth Transfer in driving jewelry reassessment
  • Why transparency is becoming a requirement across historically
    opaque categories
  • The long-term shift toward recognizing jewelry as a formal asset
    class

Data Pegs:

  • Gold prices near record highs fueling resale interest (World Gold
    Council)
  • Retail jewelry markups can reach up to 5X intrinsic value
  • 25,000+ users already tracking assets digitally

Mark Your Calendar: Akada Children’s Book Festival Returns May 23, 2026

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Mark Your Calendar: Akada Children’s Book Festival Returns May 23, 2026

A lineup of activities including meet-and-greets, author-led readings from Pelumi Nubi, Namse Udosen, Ayo Oyeku, and others

As Children’s Day approaches, many families begin to ask the question: what kind of experience truly stays with a child? Beyond the usual outings and engagements, what if the celebration could also spark imagination, build confidence, and open-up new ways of thinking?

On Saturday, May 23, 2026, the Akada Children’s Book Festival, Nigeria’s first and largest children’s book festival returns for its 8th edition at Rugby School Nigeria, Eko Atlantic, Lagos, offering exactly that kind of experience. Timed ahead of Children’s Day, this year’s festival is designed not just as a day of fun, but as a space where stories, creativity, and discovery come together in meaningful ways.

This year’s theme, “Big Dreams, Brave Stories,” aims to celebrate the idea that bravery is not only about-facing challenges, but also about following one’s heart, dreaming boldly, and believing in oneself. The theme highlights the power of storytelling to inspire young readers to imagine possibilities, embrace creativity, and see themselves as active participants in their own journeys.

Mark Your Calendar: Akada Children’s Book Festival Returns May 23, 2026

What’s Planned for 2026

The festival features a full lineup of activities designed to immerse children, parents, and educators in an interactive literary experience, including:

  • Author-led book readings
  • Author meet-and-greet sessions
  • Storytime sessions
  • Book chats
  • Puppet Show
  • Book exhibitions and signings
  • Workshops for children
  • Workshops for parents and educators
  • Writing and illustration competition announcements

Also read: https://brandspurng.com/2026/05/19/nigeria-revenue-service-approves-upperlink-as-system-integrator-for-national-e-invoicing-platform/

  • Scrabble and chess tournaments
  • Theme song competition
  • Sip and paint sessions
  • STEM activities
  • Sensory play experiences
  • Drama, music, and dance performances
  • Prizes and book giveaways

Each activity is designed to move beyond passive participation, giving children the opportunity to engage actively with stories, explore their creativity, and connect with books in ways that feel natural and exciting.

Celebrating Nigerian Children’s Literature 

Mark Your Calendar: Akada Children’s Book Festival Returns May 23, 2026

The festival will also showcase a curated selection of Nigerian children’s titles, including Lumi Drives from London to Lagos by Pelumi Nubi, Sim Sim Goes to the Salon by Tonye Faloughi-Ekezie, Amang Goes to the Village by Namse Udosen, and What Happened on Thursday?: A Nigerian Civil War Story by Ayo Oyeku, stories that reflect familiar realities while opening children up to new perspectives.

Registration Closes May 16, 2026

The best part is that attendance is completely free. With registration set to close on May 16, this is the final window for families and schools planning to attend the 8th Akada Children’s Book Festival to sign up.  Taking place on May 23 at Rugby School Nigeria, Eko Atlantic, Lagos, the festival promises a full day of storytelling, creativity, books, games, performances, and engaging activities for children.

Register at akadafestival.org/register and follow @akadafestival for updates and festival highlights.

Nigeria Revenue Service Approves Upperlink As System Integrator For National E-Invoicing Platform

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Nigeria Revenue Service Approves Upperlink As System Integrator For National E-Invoicing Platform

The Nigeria Revenue Service (NRS) has officially approved Upperlink Limited as a System Integrator for Nigeria’s national e-invoicing ecosystem, strengthening efforts to digitise tax administration and improve real-time compliance across businesses operating in the country.

Under the approval, Upperlink will be responsible for connecting businesses and institutions to the NRS Merchant Buyer Solution (MBS) framework, enabling secure invoice validation, real-time transaction transmission, and compliant digital tax reporting as Nigeria rolls out its mandatory e-invoicing system in phases.

The development is part of the federal government’s broader push to modernise tax processes through technology-driven solutions, with the e-invoicing programme expected to cover large, medium, and smaller taxpayers based on defined turnover thresholds.

Brandspur Banking News Desk reports that Upperlink’s role as System Integrator places the company at the centre of Nigeria’s expanding digital tax infrastructure, where it will support both enterprise systems and organisations requiring middleware or portal-based integration to meet compliance requirements.

According to Upperlink Managing Director, Olusegun Akano, the authorisation reflects the company’s capabilities in enterprise technology, regulated payment systems, and large-scale digital infrastructure deployment. He noted that the firm already operates within key financial technology frameworks, including licensing under the Central Bank of Nigeria and integration within national payment systems.

Also read: https://brandspurng.com/2026/05/19/playstation-raises-ps-plus-prices-for-new-users-in-australia-as-subscription-costs-climb/

The company also highlighted its experience in delivering payment and enterprise solutions such as its Paygate platform, which aggregates multiple payment channels and supports reconciliation and treasury management for corporations and government institutions.

As part of the implementation structure, businesses will be required to integrate their invoicing systems with the NRS-approved platform to enable real-time issuance and submission of invoices once their respective onboarding phases commence. The rollout will apply across different revenue bands, with compliance timelines tied to annual turnover categories.

Upperlink further stated that its infrastructure will support secure onboarding, system integration, and ongoing technical support for organisations transitioning into the new digital tax environment, positioning it as a key technology partner in Nigeria’s evolving e-invoicing regime.

Playstation Raises Ps Plus Prices For New Users In Australia As Subscription Costs Climb

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Playstation Raises Ps Plus Prices For New Users In Australia As Subscription Costs Climb

PlayStation has confirmed a major shift in its PC and subscription strategy, with reports indicating that its single-player PlayStation titles will no longer be released on PC going forward. The move marks a notable change in how Sony is distributing its first-party games beyond its console ecosystem.

In a separate announcement, the company also revealed that PlayStation Plus pricing will increase for new subscribers in Australia starting May 20. Existing members will not be affected unless they allow their subscription to lapse or make changes to their current plan.

The updated pricing structure for new Australian subscribers is set as follows: a one-month plan will cost $14.95 AUD, a three-month subscription will be $43.95 AUD, while the 12-month plan is priced at $112.95 AUD. Sony stated that the adjustment reflects ongoing global market pressures impacting its services pricing across selected regions.

Also read: https://brandspurng.com/2026/05/19/female-entrepreneur-wins-%e2%82%a610-million-at-fmn-prize-for-innovation-with-cassava-based-food-solution/

Brandspur Brand News Desk reports that the new pricing model will only apply to fresh subscribers, with current users temporarily protected from any immediate increases unless their subscription status changes. The company emphasized that the revision is part of broader operational adjustments in response to shifting economic conditions worldwide.

PlayStation reiterated that the revised charges are specific to new customers in Australia, reinforcing that existing subscribers will retain their current rates as long as their membership remains active.

Female Entrepreneur Wins ₦10 Million At FMN Prize For Innovation With Cassava-Based Food Solution

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Female Entrepreneur Wins ₦10 Million At FMN Prize For Innovation With Cassava-Based Food Solution

Flour Mills of Nigeria Plc has crowned a female entrepreneur as the overall winner of the fifth edition of its FMN Prize for Innovation, marking a historic milestone in the competition’s five-year run and reinforcing efforts to deepen value addition in Nigeria’s cassava sector.

The winner, Victoria Ogwanighie, founder of Kiyoko Foods Limited, emerged top among five finalists selected from more than 2,700 applications nationwide. Her innovation focuses on transforming cassava into nutrient-rich cheese balls designed to improve child nutrition, reduce post-harvest losses, and promote sustainable food systems.

Brandspur Brand News reports that the grand finale, held on May 15, 2026, also featured an upward review of the competition’s prize structure. The winning prize was doubled to ₦10 million, while the first and second runners-up received ₦6 million and ₦4 million respectively, reflecting FMN’s growing investment in agribusiness innovation.

Speaking at the event, FMN Chairman John Coumantaros said the Prize for Innovation aligns with the company’s long-term strategy to support scalable solutions across Nigeria’s food and agro-allied value chains. He noted that empowering innovators working on cassava transformation would deliver economic impact while strengthening food security.

Ogwanighie said the recognition and financial support would accelerate the expansion of Kiyoko Foods, enabling wider distribution of affordable and nutritious cassava-based products while creating opportunities for local farmers and reducing food waste.

Also read: https://brandspurng.com/2026/05/19/nigeria-toothbrush-market-valued-at-50m-as-eco-friendly-products-gain-ground/

Joshua Attat, founder of Pneedles Limited, emerged as first runner-up for his innovation that converts cassava peels into plant-based leather, offering an eco-friendly alternative to conventional materials and supporting circular economy practices. He received ₦6 million.

The second runner-up, Valentine Okoli of Bach and Moen Limited, won ₦4 million for establishing cassava processing hubs that enable rapid conversion of fresh cassava into instant Abacha and shelf-stable snacks, helping farmers minimise spoilage and access higher-value markets.

Other finalists, including Sadiq Muhammad of Amsadaf Ventures and Rashidat Ayoola Oluwafemi of Farmavi Agro, each received ₦1 million for innovations in mechanised farming solutions and cassava-based bio-fertiliser production.

The FMN Prize for Innovation continues to position cassava as a strategic crop for industrial development, entrepreneurship, and food security, highlighting the growing role of innovation-led agribusiness in Nigeria’s economic transformation.

Nigeria Toothbrush Market Valued At $50m As Eco-Friendly Products Gain Ground

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Nigeria Toothbrush Market Valued At $50m As Eco-Friendly Products Gain Ground

Nigeria’s toothbrush market is emerging as a modest but steadily expanding segment of the fast-moving consumer goods industry, with recent market data valuing the sector at approximately $50 million amid rising consumer demand and evolving product preferences.

Industry insights indicate that the domestic toothbrush market is largely controlled by multinational FMCG companies, local manufacturers, and specialised oral care brands. Imported products, particularly from Asia, continue to account for a significant share of supply, reinforcing Nigeria’s reliance on external manufacturing sources for everyday consumer goods.

Market projections suggest that the Nigerian toothbrush sector could grow to about $88 million in the coming years, supported by an estimated compound annual growth rate of 6.5 per cent. Conventional manual plastic toothbrushes remain the most widely used products across the country, driven by affordability and mass availability.

Brandspur Brand News reports that changing consumer awareness around sustainability is beginning to influence purchasing behaviour. Biodegradable bamboo toothbrushes and other eco-friendly alternatives are recording increased adoption, reflecting broader global and regional shifts toward environmentally responsible consumer products.

Also read: https://brandspurng.com/2026/05/19/moniepoint-dreamdevs-bootcamp-second-cohort-to-showcase-innovations-at-demo-day/

Across Africa and the Middle East, the bamboo toothbrush market has shown notable expansion between 2025 and 2026, rising from $40.6 million to $46.24 million. The segment is projected to maintain steady momentum, with forecasts pointing to continued growth over the next decade as sustainability trends strengthen.

Retail distribution data from Nigeria’s open markets and last-mile channels highlight strong sales volumes in major commercial hubs, including Onitsha, Port Harcourt, and Kano. These cities have emerged as key demand centres, supported by dense populations, active informal retail networks, and high consumer turnover.

Analysts note that Africa’s broader toothbrush market continues to benefit from urbanisation, population growth, and rising emphasis on personal hygiene. As retail consumption expands and product innovation accelerates, Nigeria is expected to remain a critical market shaping oral care trends across the continent.

Moniepoint DreamDevs Bootcamp Second Cohort To Showcase Innovations At Demo Day

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Moniepoint DreamDevs Bootcamp Second Cohort To Showcase Innovations At Demo Day

Moniepoint has announced that the second cohort of its flagship DreamDevs Bootcamp will conclude with a Demo Day event scheduled for May 26, 2026, at the company’s Ikeja facility in Lagos.

The Demo Day, themed “Training Done! Demo Up!”, will feature live presentations of capstone projects developed by participants after completing nine weeks of intensive, industry-focused software engineering training. The showcase is expected to highlight practical solutions built to real-world engineering standards.

The DreamDevs Bootcamp is a core part of Moniepoint’s long-term talent development strategy, aimed at identifying and nurturing high-potential software engineers across Africa. Participants undergo a rigorous curriculum covering Java Object-Oriented Programming, Data Structures and Algorithms, Software Testing, MySQL and JDBC, Spring Boot APIs, System Design, Docker, Messaging Queues, Frontend Development, Cloud Infrastructure, and applied software engineering principles. Participants also receive monthly stipends throughout the programme.

Brandspur Banking News Desk reports that the curriculum was designed by Moniepoint’s Engineering Unit and delivered in collaboration with Semicolon, a leading technology training institution. Entry into the programme is highly competitive, with candidates required to pass multiple screening stages, including technical assessments and in-person coding challenges.

Also read: https://brandspurng.com/2026/05/19/synthetic-consumers-are-not-fake-humans/

Speaking on the impact of the initiative, Felix Ike, Co-Founder and Chief Technology Officer of Moniepoint, said the programme was intentionally structured to produce engineers capable of operating at global standards. He noted that graduates from the first cohort are already contributing actively within Moniepoint’s engineering teams, reinforcing the programme’s role as a direct talent pipeline.

The company confirmed that several participants from the inaugural cohort have since been absorbed into its engineering workforce, underscoring the practical value and employment outcomes of the bootcamp.

Beyond the Demo Day, the DreamDevs Bootcamp reflects Moniepoint’s broader mission to strengthen Nigeria’s digital economy by investing in local talent and building engineering capacity that can compete internationally. The company stated that it looks forward to engaging with the second cohort’s innovations and expanding opportunities for emerging software engineers across the continent.

Moniepoint operates as a leading business payments and banking platform in Africa, offering payment solutions, banking services, credit, and business management tools to enterprises across Nigeria and other markets.

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