Zenith Bank hosted the 10th edition of its International Trade Seminar on Non-Oil Export on August 25, 2026, focusing on strategies to scale Nigeria’s export value chain. The event emphasized shifting from raw material exports to processed, high-value finished products to drive sustainable economic growth. Key speakers, including government officials and trade experts, highlighted the importance of AfCFTA integration, infrastructure improvement, and increased financing for Nigerian exporters to compete in global markets. Nigerian non-oil exports reached $6.1 billion in 2025.

The Nigeria Premier Football League (NPFL) has secured a three-year, $7.5 million title sponsorship deal with Warsaw-based investment and gaming firm, EuroMatch Group. Starting with the 2026/27 season, the competition will be branded as the EuroMatch NPFL. The agreement provides $2.5 million annually, with 60%—approximately 1.5 million dollars—earmarked for direct distribution to the 20 participating clubs. This partnership marks the league’s first title sponsorship since 2016.

Nigerian electricity distribution companies failed to collect N669.49 billion in billed charges during 2025, according to the Nigerian Electricity Regulatory Commission. The industry reported a 77.6% collection efficiency, with total billings reaching N2.99 trillion against N3.68 trillion in energy supplied. Following these financial challenges, the Association of Nigerian Electricity Distributors is now urging the Federal Government to classify electricity debts owed by Ministries, Departments, and Agencies as a first-line charge on national budgets to ensure prompt settlement and improve sector liquidity.

VFD Microfinance Bank has appointed Nonso Kenneth Okoye as its new Managing Director. Okoye joins the bank after a two-decade career at Standard Chartered Bank, where he held various leadership roles in operations, strategy, and corporate finance. This strategic leadership change follows a period of strong financial performance for the parent company, VFD Group, which recently reported a 100.8% surge in profit after tax for the first half of 2026.

Nigeria’s pension industry recorded 143,248 new Retirement Savings Accounts (RSAs) in Q1 2026, bringing total membership to 11.18 million. Stanbic IBTC Pension Managers led the market with 25,024 new registrations, accounting for 17.47% of the total, followed by AccessARM and FCMB Pensions. While the five largest operators captured 54.41% of new accounts—down from 62.11%—the industry remains concentrated. Total pension assets grew by 7.53% to N29.52 trillion, bolstered by a significant rise in domestic equity valuations. Despite this growth, participation covers only 12.1% of the national labor force.

Meta Platforms has reached an agreement to settle a landmark lawsuit involving 52 US attorneys general over allegations that its platforms, Facebook and Instagram, harmed teenagers. The deal requires Meta to implement strict youth-safety measures, including daily usage limits, nighttime access restrictions, and enhanced parental controls. Meta will record a $10 billion legal expense in the third quarter. The settlement structure incentivizes industry-wide adoption, as a portion of the payment is conditional on competitors like TikTok and YouTube adopting similar safety protocols. Meta denies any wrongdoing as part of the settlement.

Money market rates have softened as Nigerian banks continue to avoid borrowing from the Central Bank of Nigeria, despite the recent removal of restrictions on accessing the Standing Lending Facility. Data shows that instead of borrowing, banks deposited a cumulative 33 trillion naira into the CBN Standing Deposit Facility between August 12 and 21. This trend indicates significant liquidity in the banking system, with banks acting primarily as net providers of funds to the regulator. Consequently, overnight rates have remained stable, hovering near 22 percent.

Nigeria’s push to tax cryptocurrency faces significant operational challenges despite the sector’s massive transaction volumes. While the Nigeria Revenue Service (NRS) is mandating virtual-asset service providers to collect Tax IDs and maintain transaction records, experts warn that identifying taxable income—rather than just total transaction turnover—remains difficult. With assets often moving into self-custodied wallets or offshore platforms, the core issue is not visibility, but the ability to accurately link digital activity to specific, taxable profits. The government’s success hinges on its capacity to integrate taxpayer data with blockchain intelligence to effectively monitor economic activity outside the traditional financial system.

Nigeria’s broadband expansion is facing significant headwinds as various state governments impose exorbitant application fees and hidden levies on telecom operators. Despite a 2020 national directive capping Right-of-Way (RoW) charges at N145 per linear metre, many states are bypassing this by introducing high administrative and developmental levies. Ekiti, for instance, charges a N700,000 application fee, while states like Ogun continue to levy rates as high as N6,600 per metre. Industry leaders warn that these inconsistent and inflated costs discourage infrastructure investment and threaten the national goal of uniform digital connectivity.

Nigerian insurance industry leaders and stakeholders are calling for a strategic shift from the recent mandatory recapitalization exercise toward sustainable business growth and institutional capacity building. Speaking at separate industry forums, executives from Consolidated Hallmark Insurance and the Nigeria Insurers Association emphasized that a stronger capital base must be leveraged to deepen market penetration, enhance service delivery, and adopt AI-driven governance and operational efficiency. The consensus is that the industry’s next phase of development requires robust broker partnerships, technological innovation, and a stronger focus on the retail market to restore public confidence and deliver long-term value.

Fortis Global Insurance has announced a shift in focus from balance-sheet restructuring to aggressive growth following a successful recapitalization exercise. Group Managing Director, Bode Akinboye, confirmed that the company has settled legacy obligations, including over N2 billion in payments to retail customers and pensioners, and has effectively cleaned up its books. The insurer is now prioritizing technology-driven distribution, product innovation, and efficient claims settlement to expand its market share and deepen insurance penetration in Nigeria.

The Nigerian equity market is poised for further gains in the second half of 2026, though investors should anticipate a more selective environment as the NGX All-Share Index approaches its optimistic growth targets. According to VNL Capital, the first-half rally, which saw the index surge over 60 percent, was underpinned by banking sector recapitalization, strong corporate earnings, and improved external liquidity. While oil and gas stocks significantly outperformed, the outlook remains cautious due to potential profit-taking, elevated interest rates, and pre-election uncertainty. Despite these risks, improved macroeconomic indicators, including rising foreign reserves and a potential reclassification of Nigeria to frontier market status by S&P Dow Jones Indices, continue to support investor sentiment.

Despite improvements in macroeconomic stability, Nigeria’s poverty rate is projected to remain unchanged at 63 percent for 2026. According to the Strategy& H2 2026 Nigeria Economic Outlook, the economy is expected to grow by 4.2 percent in the second half of the year, supported by higher oil production and moderate inflation. However, the report highlights that this growth is concentrated in specific sectors and has yet to improve household welfare, as food insecurity rises and energy costs remain high. While foreign capital inflows have increased, they remain dominated by short-term portfolio investments rather than long-term productive capital. Improving living standards will require more than macroeconomic stability, necessitating targeted support for households and better access to credit for the private sector.

A new report from GTI Research highlights a severe mismatch in the Lagos housing market, where the majority of new construction targets the luxury segment despite overwhelming demand for lower-income housing. Lagos requires approximately N6 trillion in annual capital to bridge its housing deficit. The report argues that the crisis is driven by a lack of accessible financing and capital allocation failures rather than a simple shortage of buildings. It identifies a 19.2 price-to-income ratio and proposes new mechanisms, including rental-equity schemes and infrastructure-linked bonds, to mobilize up to N3.85 trillion annually. Investor caution is advised, as property yields currently lag behind high-interest government securities.

Nigeria’s listed airport ground handlers, SAHCO and NAHCO, are facing profitability headwinds despite significant revenue growth over the past five years. While combined revenue reached N58.36 billion in 2026, rising operational costs, particularly the cost of sales, have squeezed margins. SAHCO reported a sharp decline in profit after tax—dropping by more than half—as its cost of sales surged 63%. In contrast, NAHCO demonstrated better operational efficiency, growing its profit after tax by 22.2% to N10.85 billion. Industry challenges remain, with high trade receivables and heavy capital investment straining cash flow across both firms.

Nigeria’s leading listed manufacturers recorded improved cost efficiency in H1 2026, as inflationary pressures softened and exchange rate volatility stabilized. An analysis of 12 major firms in the consumer goods, food, beverage, and cement sectors revealed that their aggregate input-cost ratio fell to 47.07 percent, down from 53.62 percent in H1 2025. Dangote Sugar, BUA Foods, and cement giants Dangote Cement and BUA Cement led these gains, successfully converting more revenue into gross profit. While this trend signals a broader margin recovery, manufacturers continue to face high energy, logistics, and borrowing costs. Furthermore, smaller players like Unilever Nigeria and Champion Breweries faced deterioration in their cost ratios, highlighting the competitive advantage of scale in the current economic environment. Aggregate profit after tax for the surveyed group rose to N1.74 trillion from N1.29 trillion in the previous year.

VIYA Health has partnered with the Oyo State Primary Healthcare Board to increase the availability of Medogen SubQ, a World Health Organization-prequalified family planning contraceptive. The initiative aims to enhance access to affordable reproductive healthcare across Oyo State primary health centers. Officials from the state board and VIYA Health emphasized that the collaboration is intended to improve maternal and child health outcomes through strengthened public-private partnerships.

Nigeria’s Tax Act 2025, effective January 1, 2026, has significantly altered the tax implications for mergers, acquisitions, and corporate restructuring. The Act increased the capital gains tax (CGT) on taxable disposals and asset sales from 10 percent to 30 percent, aligning it with the corporate income tax rate.

However, qualifying mergers are treated as business continuations rather than cessations, allowing for the transfer of assets at tax written-down values and the retention of unutilized tax credits and losses. Conversely, outright sales or transactions resulting in business cessation may trigger immediate tax liabilities and the loss of accumulated tax attributes. The new regime also extends to cross-border transactions, potentially taxing offshore share transfers that derive value from Nigerian assets. Consequently, companies must now prioritize tax-efficient structuring to manage transaction costs effectively.

Rising transportation costs in Nigeria are forcing businesses to rethink logistics, with National Bureau of Statistics data showing bus fares jumped 39 percent and motorcycle fares surged 52 percent in May 2026. To combat these rising expenses, ChamsAccess has launched MarketRide, a delivery platform designed to optimize last-mile logistics through a multi-order model. By consolidating shipments in a single trip, the platform aims to reduce fuel consumption and mileage, helping merchants lower delivery costs amidst inflationary pressure. The company, led by Olayemi Odufeso, is targeting urban centers across Nigeria to improve digital commerce efficiency. However, the platform’s success hinges on achieving sufficient order density to maintain a sustainable and cost-effective network.