Nigeria’s federal government is facing higher borrowing costs as aggressive domestic debt issuance pushes bond yields upward. Average yields on FGN bonds climbed 148 basis points to 17.79 percent in June. Investors are demanding higher returns in anticipation of a significant increase in sovereign debt supply.

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) concluded its 66th Annual General Meeting and Conference in Port Harcourt, Rivers State. The three-day event brought together business leaders and policymakers to discuss economic growth and private sector development. A key highlight was the conferment of the Honorary Life Vice President title on Barizaage Adoage Norteh for his contributions to the chamber movement. Additionally, former Port Harcourt Chamber of Commerce presidents Emeka Unachukwu and Vincent Furo received Distinguished Service Awards. The event’s success has been cited by analysts as a positive indicator of Port Harcourt’s enduring status as a major national business and investment hub.

Maritime traffic through the Strait of Hormuz has effectively stalled following two consecutive days of US airstrikes on Iran, marking the collapse of a mid-June ceasefire. Ship-tracking data shows transit volumes have plummeted to levels not seen since the height of the recent conflict, with only 14 vessels recorded on Wednesday. The disruption is compounded by reported electronic interference, which is causing navigational anomalies for commercial shipping. While global energy logistics face significant strain, some vessels are reportedly continuing to transit with transponders disabled to avoid detection. President Donald Trump has officially declared the truce over, heightening concerns over regional stability and energy supply chains.

Oil prices climbed over 1% on Thursday following fresh U.S. airstrikes against Iranian military targets. Brent crude rose to $78.88 a barrel, while U.S. West Texas Intermediate reached $74.37. The military action, which targeted infrastructure along Iran’s coastline, follows President Donald Trump’s declaration that an interim peace agreement is effectively over. Analysts warn that renewed tensions near the Strait of Hormuz—a vital global oil chokepoint—will likely keep oil prices volatile as markets fear potential disruptions to supply routes.

MTN Group and Telecel Group are preparing to bid for 5G licenses in Ghana following the government’s decision to revoke an exclusive concession previously held by a state-backed provider. The government aims to end the monopoly of Next Gen Infraco, which struggled to meet infrastructure rollout targets after partnering with India’s Radisys Corp. Officials hope a competitive auction will accelerate 5G deployment to reach 70% of the population by 2027, helping Ghana catch up with regional peers. The move comes as the nation seeks to address slow connectivity and improve market competition.

Amplify Conference 2026, Nigeria’s premier event for live production professionals, will take place in Lagos on August 6, 2026. The event aims to bring together over 1,000 professionals—including engineers, lighting designers, and event producers—to focus on the theme "The Business of Live." This year’s conference specifically addresses the challenge of bridging the gap between creative talent and business sustainability in the industry. The free event features a full day of keynote addresses, fireside chats, and panel discussions covering topics from financial management to building long-term wealth in the live production sector. Registration is currently open at register.amplifylive.io.

The 8th African Tourism Leadership Forum (ATLF) will be held in Polokwane, Limpopo Province, South Africa. Organized by Africa Tourism Partners (ATP), the event aims to drive intra-Africa travel and business investment, building on a network that has connected over 3,500 industry professionals since 2018.

This year’s forum will feature new focuses, including an investor roundtable, masterclasses in tourism quality assurance, and discussions on the impact of artificial intelligence on African tourism. Additionally, the event will host the African Continental Free Trade Area (AfCFTA) Tourism, Creative and Cultural Industries Forum, which will explore the intersection of tourism and the creative sector. Attendees can expect business-to-business networking sessions, tourism leadership awards, and opportunities to explore Limpopo’s wildlife and ecotourism offerings. Partner airlines, including South African Airways and Kenya Airways, are offering discounted fares for participants.

Nigeria is launching a new initiative to boost local smartphone manufacturing, aiming to make devices more affordable for its citizens. The government is incentivizing global manufacturers to establish local factories by November 2026 through tax waivers, holidays, and streamlined customs procedures, hoping to avoid the failures of past domestic production efforts.

The Corporate Affairs Commission (CAC) has announced that, starting August 1, 2026, it will begin sanctioning companies that fail to include mandatory director information on their official business letters. Under the Companies and Allied Matters Act (CAMA) 2020, companies are required to disclose the full names, former names, and nationalities of all directors—if they are not Nigerian—alongside the company’s registered name, number, and office address. The commission stated that this enforcement is part of its ongoing efforts to enhance corporate transparency and accountability across the Nigerian business environment. Businesses are urged to update their stationery to comply with these legal requirements before the enforcement deadline.

Afreximbank, through its investment arm the Fund for Export Development in Africa (FEDA), has announced a major initiative to mobilize up to $1 billion for Africa’s film and audiovisual industry. The Pan-African Film Fund aims to transform the continent’s storytelling sector into a globally competitive export by financing content production, distribution infrastructure, and digital streaming platforms. FEDA has partnered with One Street Studios to serve as co-general partners, combining financial expertise with industry experience to build a sustainable, scalable ecosystem for African creators. The project is a key component of Afreximbank’s Creative Africa Nexus (CANEX) program, designed to drive economic growth and job creation by positioning African film as a major international export.

Investors continue to show strong demand for Nigeria’s one-year Treasury Bills, despite rising government borrowing costs. At the latest primary market auction, the 364-day bill closed at a stop rate of 17.70 percent, resulting in a true yield of approximately 21.51 percent.

The auction saw significant interest, with N1.86 trillion in subscriptions against an offer of N500 billion, of which N935.32 billion was allotted. While the one-year instrument remains a major attraction, demand for shorter-dated bills was mixed, with the 182-day tenor remaining undersubscribed. Analysts suggest that the rising yields reflect an aggressive push by the government to fund fiscal deficits and manage system liquidity amid persistent inflation.

Elektron Renewables has expanded the rooftop solar installation at Jabi Lake Mall in Abuja, Nigeria, to approximately 1.5 MWp. This project is now the largest rooftop solar installation on a shopping mall in West Africa.

According to Sianny Ayodele, head of Elektron Renewables, the system is designed to meet about 70 percent of the mall’s power demand. The project highlights a growing shift in business strategy, where companies are increasingly treating renewable energy as critical infrastructure for operational reliability, cost management, and long-term competitiveness rather than just a sustainability initiative. Ayodele noted that shopping malls are ideal for such installations due to their large rooftop space and high daytime energy demand, which aligns with peak solar generation.

Abia State Governor Alex Otti has inaugurated the Ogbo Central Smart School in Umuahia, the first of three smart schools scheduled to open this July. The project is part of a broader administration initiative to dedicate 20% of the state budget to education, aiming to replace traditional certificate-focused schooling with a curriculum designed to foster innovation and global competitiveness. Governor Otti announced plans to eventually roll out 17 additional smart schools—one for each local government area—and warned that his administration will strictly enforce a zero-tolerance policy against school vandalism and illegal student levies.

Benue State Governor Hyacinth Alia has credited President Bola Tinubu’s economic reforms and the implementation of local government financial autonomy for improving governance and reducing tension in his state. Speaking in Abuja, Alia stated that granting councils financial independence has strengthened grassroots development and accountability. Regarding security, the Governor reported a reduction in incidents, with displaced farmers returning to their lands. He also reaffirmed his support for the creation of state police, arguing that local knowledge is essential to effectively tackling insecurity.

Public affairs analyst Chima Okoro has praised EFCC Chairman Ola Olukoyede for transforming the agency into a proactive institution focused on corruption prevention, intelligence-led operations, and asset recovery. Under Olukoyede’s leadership, the EFCC has dismantled transnational cybercrime networks, resulting in the arrest of nearly 200 foreign nationals, and gained international recognition from the FBI. The commission also facilitated Nigeria’s removal from the Financial Action Task Force grey list through improved money laundering controls and has redirected recovered assets, such as furniture for public schools, back into public utility. Further reforms, including the mandatory registration of Point of Sale operators, aim to curb illicit financial flows and improve institutional compliance.

Kogi and Cross River state officials are calling on the Nigerian Communications Commission (NCC) to establish a transparent, cost-based pricing framework for shared fibre duct infrastructure. The initiative aims to support the federal government’s "Dig-Once" policy, which seeks to minimize road excavations and lower broadband deployment costs for a nationwide 90,000-kilometre fibre project. Industry consultants are currently developing a model that includes price ceilings and floors to incentivize private investment, reduce infrastructure duplication, and improve digital connectivity across Nigeria.

The Nigerian government has evacuated 859 citizens from South Africa following a recent surge in xenophobic violence and anti-foreigner protests. Foreign Ministry spokesperson Kimiebi Ebienfa confirmed that additional flights are being arranged for those wishing to return home.

To support the returnees, the government is planning a comprehensive reintegration package that includes vocational training, educational placement for displaced students, and potential financial aid. While diplomatic channels remain the primary focus for resolving tensions and seeking compensation for lost property, officials emphasized that they are documenting losses and pressing South African authorities to ensure the safety of those remaining. The government has also appealed to Nigerians to avoid retaliatory attacks against South African businesses, prioritizing peaceful diplomatic engagement over severed relations.

Borno State Governor Babagana Zulum has officially launched the 2026 wet farming season with a major intervention package for 120,000 smallholder farmers. The initiative includes the distribution of 200 truckloads of NPK fertiliser at a 50% subsidy, alongside free agricultural inputs such as water pumps, seeds, agrochemicals, and 10,000 bicycles to assist with rural mobility. Additionally, the Governor announced a 500 million naira cash support package for vulnerable populations in Borno South to boost local livelihoods. Zulum warned beneficiaries against selling or diverting the subsidised fertiliser, emphasizing that the support is strictly intended to enhance food security and agricultural productivity across the state.

President Bola Ahmed Tinubu has officially approved the reconstruction of the Ado-Ijan-Ilumoba-Ikole road in Ekiti State. The project, which will be funded through the federal government’s Renewed Hope Infrastructure Project Fund, aims to rehabilitate a vital route that connects the South West to the Federal Capital Territory and serves key educational and transport institutions. Ekiti State Governor Biodun Oyebanji praised the move, noting that the road had suffered from years of neglect prior to this federal intervention.