A new Atlantic Council report reveals that West Africa imposes the highest air travel tax burden in Africa, with passengers paying an average of $110 per departure. This cost, which significantly exceeds the $32 average for similar journeys in Europe, is driven by heavy government-imposed levies that constitute 35 to 40 percent of African ticket prices. These high charges, including Nigeria’s 5 percent Ticket Sales Charge, are cited as major barriers to regional connectivity and airline viability. The report suggests that aviation reforms across 12 African countries could reduce airfares by up to 35 percent and stimulate significant economic growth.

Fintech giant OPay is preparing for a potential listing on the Nigerian Exchange, marking a major milestone for the local capital market. The planned debut comes as the company simultaneously pursues an initial public offering in the United States, targeting a valuation of approximately 4 billion dollars. While the timing and structure of the Nigerian offering remain undisclosed, the move aligns with recent calls from NGX Group leadership to grant domestic investors exposure to high-growth technology companies that generate the bulk of their revenue within Nigeria. OPay reported strong financial performance in 2025, with revenue climbing 161 percent to 536.3 million dollars and achieving positive operating income.

The Federal Government has installed 668,000 electricity meters under the $500 million World Bank-funded Distribution Sector Recovery Programme, reaching 60% of the first phase’s delivery target. Bureau of Public Enterprises Director-General Ayodeji Gbeleyi announced the milestone during a meeting of the National Council on Privatisation. Additionally, 17 states have now established independent electricity regulatory commissions, furthering the decentralisation mandated by the 2024 Electricity Act. The government is also coordinating with stakeholders to refine the Act’s implementation.

SUNU Assurances Nigeria Plc has successfully met the Nigerian insurance industry’s new minimum capital requirements, strengthening its capital base for future expansion. Despite macroeconomic headwinds, including inflationary pressures and foreign exchange losses that impacted net profit—which fell to N1.53 billion from N3 billion in 2024—the company reported a 41.1% increase in gross insurance revenue to N21.6 billion. Management remains focused on operational efficiency, digital transformation, and market penetration for 2026.

Dangote Petroleum Refinery and Petrochemicals (DPRP) has expressed concern over the continued issuance of petroleum product import licences, despite the refinery’s capacity to meet Nigeria’s domestic fuel demand. The company reports that imported fuel accounted for 43 percent of the market in July, creating operational uncertainty and inventory management challenges. Consequently, the refinery stated that it must now increase exports of surplus stock to international markets to mitigate excessive carrying costs, noting that it is no longer commercially sustainable to hold indefinitely large reserves while imports continue unabated. The refinery emphasized that this shift is an operational response to market conditions and clarified that it remains committed to fulfilling local demand should supply gaps arise from market distortions.

Afri Invoice Nigeria Limited has launched a strategic fundraising round, targeting investors with experience in Nigeria’s financial infrastructure sector. The Lagos-based firm, which provides technology for electronic invoicing and automated tax compliance, is looking to leverage the expertise of backers who previously supported companies like Flutterwave, Interswitch, and Monnify. The funds will be used to scale engineering operations and expand the company’s regulatory compliance infrastructure across Nigeria and the broader African market.

Global index provider FTSE Russell has confirmed the reclassification of Nigeria from ‘Unclassified’ to ‘Frontier Market’ status, effective September 21, 2026. The move follows concerns regarding Nigeria’s transition to a T+1 settlement cycle, which had prompted a review of the country’s status. Following direct engagement with the Securities and Exchange Commission (SEC), which clarified that foreign portfolio investors are not subject to mandatory prefunding requirements, the index provider decided to proceed with the upgrade. The Central Securities Clearing System (CSCS) welcomed the development, noting that the status change reflects the resilience of Nigeria’s capital market infrastructure and the success of its recent reforms.

Michael Adesola, the Acting Managing Director and CEO of Belema Fintech, has urged industry stakeholders to prioritize infrastructure resilience over rapid user acquisition. Speaking at the Nigerian Fintech Forum, Adesola argued that the long-term sustainability of Africa’s fintech sector depends on building reliable payment systems that can withstand high transaction volumes. He highlighted that frequent transaction failures and system bottlenecks undermine consumer trust, urging firms to focus on redundancy, robust interoperability, and thorough stress-testing of backend infrastructure to ensure transactions are consistently completed.

Victoria Island remains a top-tier real estate market in Lagos, driven by sustained demand from corporate executives and high-income professionals. According to the 2026 Lagos Island Residential Market Report, the district has seen a 25.8 percent annualized growth in home prices, with average apartment costs reaching approximately 612.5 million naira. Amidst rising land and construction costs, Ace Real Estate has launched The Twist, a premium residential project aiming to leverage the district’s commercial prominence and limited supply of prime land. The project’s long-term investment viability will depend on the developer’s execution quality and the asset’s ability to maintain value in a competitive luxury segment.

Nigeria Football Federation President Ibrahim Musa Gusau and his entire executive board have resigned, effective Thursday, August 27. The mass resignation follows intense pressure stemming from the national teams’ failure to qualify for major global tournaments and ongoing scrutiny from anti-corruption agencies regarding the management of a 17 billion naira government intervention fund. The NFF Congress is expected to initiate a transition plan ahead of scheduled September elections.

The Lagos State Electricity Regulatory Commission (LASERC) plans to deploy artificial intelligence-enabled monitoring systems to improve oversight and reduce Aggregate Technical, Commercial, and Collection (ATC&C) losses to below 10%.

LASERC Chief Executive Officer, Temitope George, stated that the commission is focused on achieving universal metering and enforcing a 12-month limit on electricity charge recovery. Billing-related grievances currently account for nearly half of all consumer complaints, and the regulator is prioritizing stricter performance standards and licensee accountability to foster a more reliable and competitive electricity market.

Shareholders of Royal Exchange Plc have criticized MediPlan Healthcare Limited for failing to recapitalise Royal Exchange Prudential Life Assurance Company Limited (REPRU), an action that led to the revocation of REPRU’s operational license by the National Insurance Commission (NAICOM) on August 4, 2026. Royal Exchange Plc had divested the firm to MediPlan in 2022, but the latter allegedly defaulted on recapitalisation mandates and other contractual obligations. Royal Exchange Plc had sought shareholder approval in July 2026 to reacquire and rescue the entity prior to the regulatory intervention. NAICOM has since appointed a liquidator to oversee the firm’s winding-down process.

The MOFI Real Estate Investment Fund (MREIF) has disbursed over N140 billion in mortgage financing to more than 2,000 Nigerians since April 2025. Launched by the Ministry of Finance Incorporated to address Nigeria’s housing deficit, the fund provides mortgages of up to N100 million at a 9.75% interest rate with repayment tenors of up to 20 years. Beneficiaries currently span 27 states, with the first N250 billion tranche funded by a combination of Federal Government and private sector capital.

Kudiwave Technologies Limited is calling for the intervention of the Central Bank of Nigeria and the Inspector General of Police to recover 750.37 million naira allegedly withheld by police authorities. The fintech company claims that despite a July 22 Federal High Court order directing the release of its funds, the money was transferred to an Access Bank account held by the Police Special Fraud Unit on July 15. The firm maintains it was wrongly ensnared in a fraud investigation linked to UBA accounts and continues to demand the immediate return of its capital.

The Nigerian Electricity Regulatory Commission (NERC) reported that Nigeria maintained the lowest average electricity tariff among 14 surveyed African nations in 2025. With an average end-user tariff of N124.30 per kilowatt-hour, or $0.08, Nigeria’s rates stood significantly lower than the $0.19 average recorded across its peers. The report highlights that South Africa held the highest tariff at $0.27 per kilowatt-hour, while Nigeria’s rates represented roughly 42% of the average cost observed in the study. This data emerges as the Federal Government continues to navigate sector-wide financial reforms, including debt settlement frameworks and ongoing efforts to enhance power infrastructure and supply reliability.

MTN Group has announced the appointment of Ikenna Ikeme as the new Executive for Group Regulatory Affairs, effective September 7, 2026. Ikeme, currently the General Manager of Regulatory Affairs at MTN Nigeria, will lead the group’s regulatory agenda across all its markets. Additionally, Ashutosh Tiwary has been appointed as the Operations Executive for Francophone markets, starting September 1, 2026. These leadership changes are intended to strengthen the group’s strategic execution and governance amid an increasingly complex telecommunications landscape in Africa.

At the August 26, 2026, Treasury Bills primary market auction, the Central Bank of Nigeria (CBN) successfully lowered the stop rate for the 364-day bill by 44 basis points to 17.15%. This decline occurred despite overwhelming investor interest, with total subscriptions for the one-year instrument reaching N3.63 trillion against a N500 billion offer. While rates for the 91-day and 182-day tenors remained unchanged at 16.30% and 16.50% respectively, the strong demand for longer-dated securities allowed the government to secure borrowing at a reduced cost. The auction, which saw a total allotment of N762.89 billion, reflects sustained appetite for government debt, even as analysts debate the long-term impact of concurrent high-yield Open Market Operations on domestic borrowing strategies.

The family office of Aliko Dangote is preparing for a major expansion in 2027, serving as a strategic hub for wealth management, governance, and long-term succession. Led by his daughter, Halima Dangote, the Dubai-based office aims to secure the legacy of the conglomerate for up to 10 generations. Beyond preserving family wealth, the office will facilitate international investments across the Middle East, Asia, and Europe while supporting the Dangote Group’s Vision 2030 goal of increasing annual revenue fivefold to $100 billion. The development follows the recent elevation of Halima and her sisters, Mariya and Fatima, into senior leadership roles within the group.

Nigeria LNG Limited (NLNG) expects its ongoing Train 7 project to increase the nation’s cooking gas capacity by 50 percent upon completion. The 5 billion dollar expansion project is currently 90 percent complete, with pre-commissioning activities underway and an anticipated operational date in 2027. NLNG CEO Adeleye Falade confirmed that 16,000 workers are currently on-site, emphasizing the facility’s critical role in boosting domestic LPG supply and reducing reliance on imports.