CardinalStone Research has downgraded Presco Plc from BUY to HOLD, setting a 12-month target price of N2,140.25. The revision reflects near-term earnings pressure driven by stagnant revenue growth, rising operating costs, and share dilution from a recent rights issue. Despite stable global crude palm oil prices, growth was constrained by lower yields in Ghana and increased local competition from imports and smuggling in Nigeria. Operating expenses surged by 11.4 percent, with significant spikes in transportation and diesel costs. However, the company has significantly reduced its debt levels and continues to advance its expansion projects, including the Saro Oil Palm acquisition and a new milling facility, which are expected to support long-term recovery and revenue growth by 2027.

Private investors have committed $2.72 billion to address Nigeria’s $4 billion steel deficit, marking the most significant private-sector movement in the industry in over a decade. The capital is primarily allocated to the Delta Steel mill revival and a new Chinese-backed plant in Ogun State. While these projects aim to reduce reliance on foreign imports and benefit from government tax and gas incentives, the sector continues to face headwinds from cheap imports, power shortages, and infrastructure challenges. Analysts note that while the investment is a positive development, long-term success will depend on government transparency and regulatory consistency.

Nine of Nigeria’s 11 electricity distribution companies (DisCos) are heavily dependent on federal government subsidies, with reliance levels reaching as high as 82.6 percent. Analysis reveals that the subsidy mechanism, originally designed to facilitate cross-subsidization between customer bands, has effectively become a permanent fiscal burden tied to currency volatility rather than operational efficiency. Between June 2023 and December 2025, the government spent over N3 trillion on electricity subsidies to bridge the gap between generation costs and collection shortfalls. With the House of Representatives recently summoning the 11 DisCos to address a combined debt of N2.6 trillion owed to the federation, analysts warn that further regulatory interventions, similar to the recent board dissolution at Kaduna DisCo, may be necessary for struggling operators.

Chioma Afe, Director of External Affairs and Social Performance at Seplat Energy, has advocated for a paradigm shift in how Nigerian businesses approach sustainability. Speaking at the 2026 Sustainability Conference organized by the Sustainability Professionals Institute of Nigeria (SPIN), Afe argued that sustainability should no longer be treated as a standalone corporate social responsibility function but as a core risk management tool integrated into business strategy. She emphasized that professionals must move beyond viewing sustainability as a cost center, instead developing commercial awareness and data-driven approaches to demonstrate tangible business value and operational resilience.

AFC Capital Partners (ACP) has launched the Infrastructure Climate-Resilient Fund Nigeria (ICRF Nigeria), a SEC-registered closed-end fund targeting $150 million to channel domestic institutional capital into critical infrastructure. The fund focuses on transport, renewable energy, digital infrastructure, and industrial development, aiming to bridge the gap between Nigeria’s long-term savings—particularly in pension funds—and infrastructure financing needs. This vehicle is part of a broader $750 million pan-African fund designed to leverage blended finance to de-risk projects and attract private capital. The first investment is anticipated before the end of 2026.

AFC Capital Partners, a subsidiary of the Africa Finance Corporation, has launched the Infrastructure Climate-Resilient Fund Nigeria (ICRF Nigeria). Registered with the Securities and Exchange Commission, the closed-end fund aims to mobilise domestic institutional capital from pension funds, insurers, and asset managers for climate-resilient infrastructure projects. The initiative is part of a broader $750 million pan-African vehicle designed to integrate climate risk management into infrastructure development across energy, transport, digital, and industrial sectors.

Nigeria’s money market fund segment reached a net asset value of N6.27 trillion by the end of July 2026, marking a 4.96% increase from June. The sector now comprises 48 funds and accounts for over 66% of total mutual fund assets in the country. With strong demand for liquidity and stable returns, unitholder numbers grew by 5.86% to over 846,000. The DLM Money Market Fund currently leads the top ten rankings with a year-to-date yield of 20.69%, followed by Coronation Money Market Fund and RT Briscoe Savings and Investment Fund.

The African Export-Import Bank (Afreximbank) has reported a 30% surge in net income to $534.7 million for the first half of 2026, up from $412.7 million in the same period last year. The growth was driven by a 22% increase in net interest income and an expansion in lending, with net loans and advances rising to $35.4 billion. Asset quality improved, with the non-performing loan ratio dropping to 2.20%. Concurrently, China Chengxin International Credit Rating (CCXI) has reaffirmed the bank’s AAA credit rating with a stable outlook, citing its strategic positioning and sound liquidity management.

Public debate is intensifying over the Federal Government’s $5 billion Total Return Swap financing facility with First Abu Dhabi Bank. Former Vice President Atiku Abubakar has demanded full transparency regarding the loan’s usage, costs, and collateral, challenging the administration’s refusal to disclose detailed spending plans. Economic analysts have echoed these concerns, arguing that the derivative nature of this facility, which reportedly requires 133 percent collateralization, warrants a higher level of public accountability than standard government borrowing. While Finance Minister Taiwo Oyedele maintains that the facility underwent proper legislative approval and requires no special disclosure, critics warn that the lack of clarity risks eroding public trust in the government’s debt management strategy.

Nigeria’s external reserves have climbed to $52.66 billion as of August 19, marking a $7.09 billion increase year-to-date. This 15.6% growth, driven by higher oil earnings and increased investment inflows, strengthens the Central Bank of Nigeria’s capacity to manage FX volatility. The strengthening reserve position, combined with a weakening global US dollar, continues to support the Naira’s stability in the foreign exchange market.

Fidelity Bank Plc has received approval from the Nigerian Exchange Limited (NGX) to extend the deadline for filing its audited half-year 2026 financial statements. The new deadline is September 30, 2026. The bank stated that the extension, which remains subject to final regulatory approval from the Central Bank of Nigeria, is necessary to complete the audit process. During this period, the closed trading window for insiders remains in effect. Fidelity Bank joins other major lenders, including GTCO and Access Holdings, who have also secured extensions for their half-year filings.

Accion Microfinance Bank Limited has successfully raised N5 billion through its Series 2 Commercial Paper issuance. The 364-day instrument, fully subscribed by investors, carries a discount rate of 19.03 percent and an implied yield of 23.50 percent. Quest Merchant Bank served as the sole issuing house for the transaction. The bank intends to deploy the proceeds to expand lending capacity for micro, small, and medium-sized enterprises (MSMEs), support working capital, and accelerate investments in technology-enabled financial services.

MTN Group has received conditional approval from the Federal Competition and Consumer Protection Commission (FCCPC) for its $6.2 billion acquisition of IHS Holding Limited. The regulator requires MTN to gradually sell down 30% of its stake in the Nigerian component of the business. Additionally, MTN Group announced a R6 billion ($375 million) share repurchase program following a strong first-half performance for 2026, which saw a 24.4% increase in EBITDA to R56 billion and a 6.7% rise in total subscribers. The company expects continued momentum in the second half of the year, driven by digital adoption and network infrastructure growth.

Oil prices declined by over 1% on Monday as investors engaged in profit-taking following two weeks of gains. Brent crude fell to $93.38 per barrel, while US West Texas Intermediate dropped to $85.64. The market remains sensitive to geopolitical risks, specifically awaiting details on impending, stricter US sanctions against Iran. Despite ongoing concerns over potential disruptions at the Strait of Hormuz, analysts note that sufficient oil supplies are still reaching global markets, preventing a more significant price surge. Market forecasts from Morgan Stanley suggest Brent could hit $100 per barrel in the fourth quarter if supply risks escalate.

Foreign investor participation in the Nigerian stock market dropped to a 2026 low of 5.6% in July, as the market experiences a correction following a strong year-to-date rally. Despite the benchmark All-Share Index maintaining a 53.81% gain for the year, it has recorded a ten-session losing streak, shedding approximately N5.6 trillion in market capitalization since August 11. Analysts attribute the foreign retreat to pre-election uncertainties, high fixed-income yields, and concerns over the new T+1 settlement cycle. Domestic institutional investors remain the market’s primary drivers, accounting for the vast majority of trading activity. Market experts view the current pullback as a natural phase of price discovery and consolidation, allowing investors to shift focus toward company fundamentals rather than broad market momentum.

Nigeria recorded 143,248 new Retirement Savings Accounts (RSAs) in the first quarter of 2026, marking a 24.7% increase from the previous quarter. The National Pension Commission (PenCom) reported that cumulative registrations reached 11.18 million by March 2026. While digital onboarding and public awareness efforts drove this growth, the figure covers only 12.1% of Nigeria’s 92 million-strong workforce, underscoring a significant coverage gap. Notably, 75.3% of new contributors are under 40 years old, providing a long-term runway for capital accumulation. Currently, Nigeria’s total pension assets have grown to 31.32 trillion Naira as of May 2026.

FirstBank has integrated the Pan-African Payment and Settlement System (PAPSS) into its digital platforms, including its mobile app and online banking, to facilitate seamless cross-border transactions across Africa. This integration follows the Central Bank of Nigeria’s (CBN) shift to the SSA-3 settlement model in 2024, which allows commercial banks to manage their own USD settlement accounts directly with Afreximbank.

The PAPSS framework enables instant cross-border payments in local currencies, bypassing the need for third-party currencies like the US dollar and eliminating traditional correspondent banking bottlenecks. Currently, FirstBank customers can transact up to the equivalent of $2,000 for individuals and $5,000 for corporates monthly via digital channels, with higher volumes accessible through branch services. The initiative aims to significantly reduce transaction costs and settlement times for intra-African trade.

President Bola Tinubu has ordered the arrest of George Nwabueze, the promoter of the National Brands Development and Made-in-Nigeria Special Project Office, following its classification as a fictitious agency by the Independent Corrupt Practices and Other Related Offences Commission. The ICPC investigation also led to the suspension of three permanent secretaries accused of enabling the organisation to operate within the Office of the Secretary to the Government of the Federation. This follows a similar recent controversy involving the non-existent Presidential Foreign Intervention Promotion Council, raising significant concerns about lapses in Nigeria’s public sector verification and bureaucratic controls.

The National Insurance Commission (NAICOM) revoked the operating licence of Universal Insurance Plc on August 14, 2026, following the company’s failure to meet the mandatory N15 billion recapitalisation requirement under the Nigerian Insurance Industry Reform Act. Despite reporting a profit after tax of N4.90 billion in the first half of 2026, the insurer could not secure the necessary capital, as a last-minute rescue deal with FPNG Co-Nvest Limited arrived on the day of the revocation. The collapse has drawn criticism regarding the inaction of the five South-East state governments, which held legacy interests in the firm, contrasting with the proactive recapitalisation efforts seen in other states. Ogbonna Chukwumerije of Pinheiro LP has been appointed as the receiver and liquidator to secure assets and manage outstanding policyholder claims.