A new report from the Lagos Business School and the National Institute of Marketing of Nigeria (NIMN) reveals that brand loyalty among Nigerian consumers is rapidly declining. Contrary to popular belief, the primary driver of this disloyalty is poor customer experience—such as ignored feedback and slow service—rather than price alone. The study, which surveyed over 300 brands and consumers across the country, warns that businesses failing to adapt their engagement strategies and prioritize regional customer needs risk closure in the coming years. Experts advise marketers to move beyond traditional tactics and better leverage influencers and community leaders to maintain relevance in a tightening economy.

Rotary International District 9112 Governor Layi Abidoye has commended the Rotary Club of Ikoyi Metro for its significant contributions, highlighted by a $36,000 donation toward global polio eradication efforts. During an official visit, Governor Abidoye reviewed the club’s achievements, which include top rankings in seven out of ten performance categories during the previous Rotary year. Club leadership attributed the success to intentional, consistent effort rather than shortcuts, positioning the club as a leader in both district performance and charitable giving.

The New Pour Summit 2026, an initiative by Drinkabl Africa and Drinkable Media, is set to launch in Nairobi this month to provide a dedicated intelligence platform for Africa’s multi-billion-dollar beverage industry. Centered on the theme "Liquid Resilience: Future-Proofing Beverage Brands in Africa’s VUCA Markets," the hybrid event aims to address industry challenges including currency volatility, regulatory shifts, and distribution barriers. The summit will feature expert-led sessions on strategy, innovation, and consumer trends, providing practical tools for beverage practitioners to navigate complex African markets. Registration is currently open for both in-person and virtual participation.

MTN Nigeria has launched its ‘Live it 100 on Campus’ roadshow, an initiative visiting seven universities to bridge the gap between academic education and the practical skills required by the modern job market. As artificial intelligence and automation reshape industries, the program aims to equip over 20,000 students with essential soft skills, including problem-solving, leadership, and project management. In partnership with the Project Management Institute (PMI), the tour provides career empowerment sessions across various disciplines to prepare students for a rapidly evolving, project-driven economy. The roadshow, which began at Delta State University, will continue through the end of the year at institutions including Ekiti State University, Ahmadu Bello University, and the University of Calabar.

St. Ives Multi-Specialist Hospital is celebrating its 30th anniversary by launching a series of urgent care clinics across Nigeria. These new facilities are designed to provide rapid, walk-in medical treatment for non-life-threatening conditions, significantly reducing patient wait times.

Founder Dr. Babatunde Okewale highlighted the hospital’s long-standing impact, noting that their fertility unit has facilitated the birth of over 4,000 IVF babies since 1996. As part of its expansion strategy, the hospital plans to increase its total number of branches to eight by the end of 2026, with new urgent care locations planned for Eko Atlantic, Ikeja, and Abeokuta.

The Advertisers Association of Nigeria (ADVAN) will host its 2026 annual meeting in Lagos next week, focusing on governance, growth, and brand trust. Doyin Salami, former economic adviser to the Nigerian president, will deliver a keynote on navigating the country’s evolving economy. Additionally, tech entrepreneur and former Fox News executive Crystal I. Berger will lead a session on maintaining brand trust in an AI-driven marketplace. The event will also include governance discussions and the election of a new executive council.

Nigerian Minister of Education, Maruf Tunji Alausa, has officially commissioned the Ogbo Central Smart School in Ubakala, Abia State. The facility is the first of 20 technology-driven smart schools planned by Governor Alex Otti’s administration to modernize public education in the state.

These schools are equipped with interactive boards and tablets for students, aiming to provide a globally competitive curriculum that includes training in artificial intelligence. Governor Otti announced that education in these new smart schools will be free and compulsory, emphasizing a shift from traditional certificate-based learning to a skill-focused model designed to foster economic development. The state intends to complete one smart school in each of its 17 local government areas by the end of the year.

The Independent National Electoral Commission (INEC) has extended the deadline for political parties to submit candidate details for the 2027 presidential and National Assembly elections. Originally set for July 11, the deadline has been pushed to midnight on Tuesday, July 14, 2026. INEC granted the three-day extension following a formal appeal by the Inter-Party Advisory Council, which cited technical challenges parties faced while using the online nomination portal. The commission stated the decision aims to foster greater inclusivity in the electoral process.

Nigeria’s Independent National Electoral Commission (INEC) has extended the deadline for political parties to submit candidate lists for the 2027 Presidential and National Assembly elections. Originally set for July 11, 2026, the new deadline is midnight on July 14, 2026. INEC granted the extension following an appeal by the Inter-Party Advisory Council (IPAC), citing challenges parties faced in uploading candidate information. The commission has urged all political parties to utilize this additional time to finalize their submissions.

The 8th Hotel Managers Conference Africa (HMCA) brought together over 2,000 hospitality stakeholders at the Lagos Continental Hotel. Held under the theme "Raising the Bar; Sales, Service & Standards for a Competitive Africa," the two-day event focused on service delivery, digital transformation, and sustainable industry investment. Keynote speaker Professor Wasiu Babalola emphasized that the future of African hospitality lies in intelligence and innovation rather than room inventory alone. The conference featured masterclasses, panels, and input from regional leaders, including the Ghana Tourism Authority, with a strong call for cross-border collaboration to boost tourism standards and investment across the continent.

Sheraton Lagos Hotel has transitioned to cleaner energy by commissioning a new natural gas generator and boiler system. Owned by Ikeja Hotel PLC, the move is designed to reduce the hotel’s carbon footprint and noise pollution while aligning with Marriott International’s global sustainability goals. Management expects the shift away from diesel to significantly lower operational costs, projecting a full return on investment within 18 months. Additionally, the hotel has installed electric vehicle charging stations as part of its broader environmental, social, and governance (ESG) strategy.

Soaring inflation in Nigeria has significantly increased the startup capital required for informal businesses like selling akara. Setting up a modest roadside operation now exceeds 200,000 Naira, roughly triple the national minimum wage. Key drivers for this spike include the rising costs of cooking gas, beans, oil, and basic equipment such as frying pans and furniture. While vendors maintain that the business remains viable in high-traffic locations, the high barrier to entry is sidelining many young entrepreneurs and those without access to credit.

The Nigerian Navy has dismantled four illegal refining sites in Rivers State, seizing 43,000 litres of suspected stolen petroleum products. Acting on intelligence, personnel from NNS PATHFINDER located the facilities in the Egbema area, where they recovered 28,000 litres of diesel and 15,000 litres of kerosene stored in pits and reservoirs. The operation is part of the ongoing Operation DELTA SENTINEL campaign, aimed at curbing crude oil theft and protecting the nation’s maritime economic interests in the Niger Delta.

Global personal wealth experienced significant growth in 2025, rising by 10.8% across 56 economies tracked in the UBS Global Wealth Report 2026. This increase, driven by strong financial markets and rising property values, added approximately one million new millionaires to the global total of 57.5 million.

Switzerland leads the world in average wealth per adult at $910,382, followed by the United States at $696,277 and Luxembourg at $654,732. While the United States continues to hold the largest share of global personal wealth, the report notes that gains remain uneven across regions, with some nations experiencing real-terms wealth declines despite positive currency-adjusted figures.

The Federal Government of Nigeria has approved an 82 percent increase in the registration fees for the Senior School Certificate Examination (SSCE) conducted by WAEC and NECO. Starting in 2027, the fee per candidate will rise from N27,500 to N50,000. According to a circular from the Federal Ministry of Education, the adjustment follows requests from examination bodies to address rising operational costs, including logistics, printing, and technology. The government has mandated that both WAEC and NECO adopt this uniform fee structure, a move likely to raise concerns among parents facing ongoing inflationary pressures.

Fintech firm Novacrust reports that African remote workers are losing a significant portion of their foreign currency earnings due to high exchange rate spreads, intermediary charges, and withdrawal fees. The company states that both traditional banks and many legacy fintech platforms utilize opaque fee structures that disproportionately impact digital professionals living in local currencies. As the continent’s remote workforce continues to expand, there is a growing demand for improved financial infrastructure to bridge the gap between global earning opportunities and inefficient local payment systems. Government officials have also begun exploring alternative cross-border payment solutions to reduce transaction costs and dependency on intermediary currencies.

Lekki Phase 1 has emerged as the fastest-growing residential rental market in Lagos, according to the Lagos Island Residential Market Report 2026. The area recorded a compound annual growth rate of approximately 36 percent over the last five years, with two-bedroom apartment rents now averaging N10 million per year.

While Ikoyi remains the most expensive neighborhood in Lagos, Lekki Phase 1 is currently the most liquid market, driven by high demand and modern infrastructure. Market experts attribute the broader surge in Lagos residential rents—which have climbed by 50 to 200 percent over the past two years—to persistent inflation and the rising cost of construction materials like cement, which have spiked due to local supply factors and global logistics challenges.

Nigeria’s equity mutual fund segment saw its net asset value (NAV) fall by 11.98% in June 2026, dropping to N234.86 billion from N266.82 billion in May. The decline follows a broader market correction as investors took profits from the first-half rally. Despite the asset contraction, the segment grew its total number of unitholders by 5.17%, reaching 112,674, signaling continued investor interest. The top 10 performing equity mutual funds maintained strong year-to-date returns ranging from 42.91% to 91.11%, with the Zedcrest Equity Fund leading the pack for the second consecutive month.

A high-level delegation from the Nigerian Exchange Group (NGX) and the Central Securities Clearing System (CSCS), led by Chairman Umaru Kwairanga, recently met with FTSE Russell in London to address concerns regarding Nigeria’s capital market.

The discussions focused on Nigeria’s recent transition to a T+1 settlement cycle, a move that prompted FTSE Russell to pause its planned reclassification of the country from "Unclassified" to "Frontier Market" status. While local regulators argue that the T+1 transition promotes efficiency, international investors have raised concerns regarding potential operational bottlenecks, including foreign exchange liquidity and the compressed timelines for trade reconciliation. FTSE Russell is expected to provide a final update on Nigeria’s status by the end of August 2026. Despite the review, the NGX maintains that its reforms are aligned with international best practices and aim to bolster long-term investor confidence.