Ibom Air has formally denied allegations that it exercises a monopoly over the Victor Attah International Airport in Uyo. In a statement, the airline clarified that it lacks the legal authority to restrict or regulate the operations of other carriers, noting that such powers rest exclusively with the Nigeria Civil Aviation Authority under the Civil Aviation Act 2022. The airline further dismissed claims that its scheduling adjustments are intended to limit competition, citing mandatory aircraft maintenance and operational requirements as the primary drivers for changes in its service frequency.

The Federal Executive Council has approved the appointment of Thales Alenia Space and Israel Aerospace Industries (IAI) to construct two new satellites, NigComSat-2A and 2B. This project aims to replace the ageing NIGCOMSAT-1R, which is approaching the end of its operational life. Beyond expanding national broadband capacity and improving connectivity in remote areas, the satellites will support Nigeria’s security apparatus by providing surveillance capabilities and secure communication channels for the military. The deal is structured as a vendor-financed agreement, with final costs expected upon the closure of financing.

Kenya has overtaken Nigeria as Africa’s top Mergers and Acquisitions (M&A) market by value in the first half of 2026. According to DealMakers Africa, Kenya’s deal value surged by 670.5 percent to $1.44 billion, fueled by large strategic transactions in banking and fintech. Conversely, Nigeria’s M&A value plummeted by 88.9 percent to $105.8 million, its lowest level in a decade. While Nigeria still leads the continent in the total volume of transactions with 39 deals, investors are committing significantly less capital per deal compared to Kenya, amid concerns over foreign exchange volatility, inflation, and a new, more stringent capital gains tax regime.

At the 5th PENGASSAN Energy and Labour Summit in Abuja, leadership expert Lanre Olusola urged C-suite executives to move beyond titles and focus on measurable delivery. Presenting his VIBERS framework—Vision, Integrity, Belief, Execution, Results, and Standards—Olusola emphasized that professional authority is earned through rigorous self-leadership and disciplined execution. He challenged industry leaders to align personal standards with institutional benchmarks to drive sustainable growth in Nigeria’s energy sector.

Noor Takaful Insurance Limited and its subsidiary, Noor Health Limited, have distributed N427.96 million in surplus to participants and enrollees who made no claims during the 2024 financial year. The distribution ceremony, held in Lagos, saw over 1,000 participants receive payouts. Since its inception, the firm has paid N22 billion in cumulative claims. Additionally, the National Insurance Commission confirmed that Takaful operators remain exempt from current industry recapitalization requirements as they remain well-capitalized.

Kenya’s inflation rate reached a three-month high of 6.6% in August, up from 6.5% in July. The rise is primarily driven by increased fuel costs resulting from geopolitical tensions in the Middle East, which have inflated transport expenses and widened price pressures across the economy. Core inflation also rose to 3.4%, signaling that the impact of these external energy shocks is beginning to spread beyond transportation, potentially complicating the Central Bank of Kenya’s monetary policy strategy.

Nigeria’s finance and insurance sector recorded a real growth rate of 9.29% in the second quarter of 2026, a significant decline from the 16.13% reported in the same period last year. According to the National Bureau of Statistics, the slowdown follows the conclusion of major recapitalisation drives, where banks and insurance firms raised a combined N5.3 trillion in new capital. Despite the year-on-year deceleration, the sector saw a modest quarter-on-quarter improvement of 0.74 percentage points. Financial institutions continue to drive the sector, contributing 87.22% of total output, while the insurance subsector accounted for 12.78%. The sector’s contribution to nominal GDP stood at 4.32%, down from 4.57% in Q2 2025.

The Economic and Financial Crimes Commission (EFCC) has reported the recovery of N1.23 trillion and significant foreign currency holdings between October 2023 and June 2026. EFCC Chairman Ola Olukoyede stated that N661.32 billion and $492.37 million have been returned to federal and state institutions, corporate entities, and individual victims. Beyond asset recovery, the commission secured over 10,000 forfeitures, including real estate and various industrial assets, while contributing to Nigeria’s exit from the FATF grey list. The EFCC is increasingly shifting its focus toward digitalised processes and fraud prevention to combat rising cybercrime and advance-fee fraud.

Lagos-based Voltaa Mobility has launched an integrated application designed to streamline passenger and commercial transportation in Nigeria. The platform combines chauffeur-driven electric vehicle rides, parcel delivery, and interstate commercial truck rentals into a single interface. By leveraging electric vehicles and real-time tracking, Voltaa aims to provide a unified, technology-led ecosystem for both individual commuters and businesses requiring logistics support.

The Nigeria Tax Act 2025, effective January 2026, has fundamentally altered the investment landscape, necessitating a shift toward after-tax return analysis. Key exemptions include interest from federal and state government bonds and dividends from authorized collective investment schemes. Additionally, foreign-sourced income may qualify for exemptions if repatriated through approved channels. Notably, capital gains for individuals are now subject to progressive personal income tax rates rather than a flat 10 percent, with specific relief available for share disposals under defined thresholds. Investors are advised to integrate tax planning into their initial asset allocation strategy to optimize returns and ensure full compliance.

The National Pension Commission (PenCom) has entered discussions with the Lagos State Government and the Lagos State Pension Commission (LASPEC) to address grievances regarding the implementation of pension increases and wage awards. The intervention follows protests by retirees under the Contributory Pension Scheme (CPS) in Ikeja, who are demanding payment of outstanding arrears and benefits. PenCom stated it is working with relevant stakeholders to determine eligibility and funding requirements to ensure a sustainable resolution for CPS pensioners.

African airlines led global international capacity growth in July 2026, recording a 9.0% year-on-year increase. Despite this surge, passenger demand rose by a more modest 6.4%, causing the regional load factor to decline to 74.1%. In Nigeria, the aviation market saw significant expansion, with total scheduled capacity climbing 44.5% to 1.22 million seats, supported by a 54.8% increase in domestic capacity. Air Peace notably contributed to this growth, adding approximately 121,000 seats.

Keystone Bank has introduced a suite of financial solutions aimed at easing education-related expenses for families and institutions ahead of the new academic session. The offerings include the EduFinance facility for salary earners, the Keystone Future Account for long-term educational savings, and the Keystone Evolve Account for tertiary students. Additionally, the bank is providing School Support Loans to private educational institutions to assist with working capital, infrastructure, and operational requirements.

Nigeria’s effort to decentralise its electricity market is struggling to attract investment, as concerns over payment security, creditworthiness, and regulatory uncertainty persist. While 16 states have secured legal autonomy under the Electricity Act 2023, only seven have fully assumed regulatory control. Analysts note that state-level markets lack the robust payment assurance and scale seen at the federal level. Experts suggest that to unlock funding, states must improve financial transparency and consider regional pooling to increase their commercial viability.

The Electoral Act 2026 has raised the presidential campaign spending limit to N10 billion, double the previous threshold, while significantly increasing caps for other elective offices. Despite these adjustments, the Independent National Electoral Commission faces major hurdles in enforcing these limits due to complex campaign financing structures. Key challenges include monitoring third-party spending by support groups, influencers, and digital platforms, as well as tracking large donations which now face higher disclosure thresholds. Analysts warn that without robust real-time monitoring and investigative capacity, the new caps may remain largely symbolic, as regulators struggle to attribute hidden or indirect expenditure to candidates.

FTSE Russell has officially reinstated Nigeria to its Frontier Market status, effective September 21, 2026. The move, which follows the resolution of previous foreign exchange and capital repatriation bottlenecks, marks a significant endorsement of Nigeria’s recent economic and structural reforms. The announcement has already triggered a positive response on the Nigerian Exchange, with the All-Share Index rallying as domestic and foreign investors anticipate increased inflows from global index-tracking funds. Market analysts expect the upgrade to enhance market liquidity and deepen investor confidence, positioning the bourse for sustained growth. Government officials have welcomed the reclassification as a critical milestone in their broader agenda to improve market transparency and eventually achieve Emerging Market status.

The Oyo State government has reaffirmed its commitment to supporting industrial growth and enhancing worker welfare through ongoing site inspections. Professor Salihu Adelabu, Commissioner for Investment, Trade, Cooperatives, and Industry, led a delegation to firms including Sumal Foods, Seven-Up Bottling Company, Zartech, Polyfilm Packaging, and Nisalee Industries to assess operations and address private sector challenges. The administration is developing a State Trade Policy to better align government initiatives with business needs, while industrialists highlighted concerns regarding multiple taxation, infrastructure, and utility costs.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed its exclusive authority to oversee and monitor Host Community Development Trusts (HCDT) under the Petroleum Industry Act. Commission Chief Executive Oritsemeyiwa Eyesan clarified this mandate during a meeting with the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), emphasizing that NUPRC has already registered 172 trusts. The commission is currently leveraging its Alternative Dispute Resolution Center to manage legal challenges regarding board compositions, including an ongoing dispute involving Sterling Oil Exploration and Energy Production Company (SEEPCO).

Dangote Petroleum Refinery is reportedly considering restricting petrol supplies to domestic marketers who continue to import Premium Motor Spirit (PMS). The move follows concerns that some marketers are blending imported fuel of uncertain quality with Dangote-refined products, potentially damaging the brand’s reputation. The refinery has also cited a lack of adequate regulatory laboratory infrastructure to verify the quality of imported products, fueling the tension as Nigeria shifts toward domestic refining.