Seplat Energy has officially ended routine gas flaring across its onshore operations in Nigeria, marking a significant environmental milestone. Chief Operating Officer Samson Ezugworie confirmed that the goal was achieved by the end of 2025. In addition to eliminating flaring, the company has launched a Liquefied Petroleum Gas plant in Sapele, Delta State, to increase the domestic supply and affordability of cooking gas for Nigerian consumers.

The African Export-Import Bank (Afreximbank) is reducing reliance on overseas medical travel through its African Medical Centre of Excellence (AMCE) in Abuja, Nigeria. In its first year, the facility treated over 5,000 patients from 20 countries, successfully performing complex procedures such as the region’s first Stereotactic Body Radiation Therapy and triple coronary artery bypass grafts. Developed in partnership with King’s College Hospital, London, the center aims to establish Africa’s healthcare sovereignty by providing world-class specialist services domestically. Currently employing over 600 staff, the hospital is part of a broader Afreximbank strategy to strengthen the continent’s medical infrastructure, retain healthcare spending, and foster high-skilled employment.

Busha and the community group Women in DeFi (WiD) have launched a strategic partnership to improve women’s participation in Africa’s technology and Web3 sectors. Announced at the Women in DeFi Summit 2026 in Lagos, the initiative aims to bridge the gap between the high number of female STEM graduates in Africa and their lower representation in actual tech roles. The collaboration debuted with laptop scholarships for five young women and will include upcoming programmes such as school outreach initiatives, a financial savings challenge, and educational training on blockchain and decentralized finance.

Former Vice President Atiku Abubakar has accused the Bola Tinubu administration of fiscal impropriety following an International Monetary Fund (IMF) report that identified N8.8 trillion in unrecorded public expenditures.

Atiku alleges this figure, representing roughly 2 percent of Nigeria’s GDP, is being utilized as an off-budget “war chest” for the 2027 general elections. He further claimed that an additional N800 billion has been unlawfully deducted from state government allocations. Drawing comparisons to revenue management practices during Tinubu’s tenure as Governor of Lagos State, Atiku characterized the federal government’s actions as a “parallel fiscal universe” shielded from legislative and public oversight.

The former Vice President has demanded emergency investigative hearings by the National Assembly, a full audit by the Auditor-General, and formal investigations by anti-corruption agencies into the source and deployment of these funds. He maintains that these fiscal practices have directly contributed to the current economic hardships faced by Nigerians, including high interest rates and the devaluation of the Naira.

International Energy Insurance Plc (IEI) has been named the winner of the Pension and Insurance category at the 2026 Nigerian Risk Awards. The recognition highlights the company’s commitment to corporate governance and enterprise risk management as it continues its ongoing recapitalisation efforts. IEI, a subsidiary of the Norrenberger Financial Group, stated that the award validates its strategic direction and efforts to strengthen its financial position within the evolving Nigerian insurance market.

The Malaysian Palm Oil Council (MPOC) has offered to assist Nigeria in developing its palm oil sector, but industry leaders warn that the proposal may prioritize Malaysian exports over Nigerian growth. While the offer promises technical cooperation and sustainability training, Nigeria remains a significant export market for Malaysia. Experts argue that Nigeria’s sector struggles—such as poor infrastructure, inconsistent policy, and smuggling—must be addressed through domestic investment rather than reliance on a competitor. The Vegetable/Edible Oil Producers Association of Nigeria (VEOPAN) cautions that any partnership must include measurable commitments, such as local manufacturing of equipment and investment in local refineries, to ensure Nigeria becomes a global producer rather than a perpetual importer.

Nigeria’s Securities and Exchange Commission (SEC) has granted Approval-in-Principle to GIGX Technologies and KuCoin Nigeria Limited under its Accelerated Regulatory Incubation Programme (ARIP). This initiative allows these virtual asset service providers to operate under regulatory supervision while working toward full registration. The move is part of the SEC’s ongoing efforts to formalize the digital asset sector under the Investments and Securities Act of 2025, aiming to enhance market transparency and investor protection.

The Nigeria Customs Service (NCS) and Afreximbank have strengthened their partnership to accelerate the African Continental Free Trade Area (AfCFTA) implementation. During a meeting in Abuja, NCS Comptroller-General Adewale Adeniyi and Afreximbank leadership reaffirmed their commitment to modernizing customs, improving border efficiency, and establishing one-stop border posts. The collaboration aims to harmonize trade procedures across the continent, reduce bottlenecks, and foster regional economic integration by boosting intra-African trade.

Petralon Energy has appointed Augustine Ekeigwe as Chief Operating Officer to lead its operational strategy as the company looks to ramp up production. Ekeigwe brings over 25 years of industry experience, having previously held senior roles at companies including Shell and Seplat. The move supports Petralon’s goal of reaching 15,000 barrels of oil per day by 2030, following recent production milestones at its Dawes Island Field.

The Office of the Accountant-General of the Federation (OAGF) has refuted claims by the Presidency that a fake government agency, the Presidential Foreign Intervention Promotion Council, successfully opened an account with the Central Bank of Nigeria (CBN). While the Presidency previously stated that the council’s self-styled director-general, Adeniyi Adeyemi, used forged documents to open an account, the OAGF clarified that the process was never finalized. According to Bawa Mokwa, the OAGF’s director of press and public relations, the account was never activated because signatories were not submitted and authorization from the Accountant-General was not completed. Consequently, the office maintains that no government funds were received, no salaries were paid, and no operational account exists. Adeyemi is currently facing prosecution for allegedly forging a presidential appointment letter and falsely presenting himself as the agency’s director.

The Nigerian Shippers’ Council (NSC) reports it has protected over N90.6 billion and $1.348 million for Nigerian shippers through regulatory interventions since November 2023. CEO Akutah Pius Ukeyima stated that the Council successfully resolved hundreds of commercial disputes, reduced unjustified demurrage charges, and secured statutory funding for the first time since its 1978 inception. Key reforms include the passage of the Nigerian Port Economic Regulatory Agency Bill, which aims to formalize the Council’s role as an independent regulator, and efforts to improve port efficiency through digital initiatives and infrastructure development.

On July 8, government officials and technology leaders will gather in Abuja for a high-level roundtable titled ‘The Foundation Behind AI, Cloud & Connectivity.’ The closed-door event, hosted by Africa Hyperscalers and Vertiv, aims to address whether Nigeria possesses the necessary digital infrastructure—including reliable power, data centers, and connectivity—to support large-scale artificial intelligence deployment. Key industry figures, including representatives from Open Access Data Centres and NITDA, will discuss the regulatory frameworks, cybersecurity needs, and investment required to modernize Nigeria’s digital ecosystem and compete in the global AI economy.

The United Nations has launched the inaugural Global Dialogue on AI Governance in Geneva, aiming to end the dominance of a few tech superpowers in setting global standards for artificial intelligence. By bringing together governments, industry leaders, and civil society, the UN seeks to ensure that developing nations have an equal voice in shaping regulations. Secretary-General António Guterres emphasized that AI is advancing faster than current governance, making international cooperation critical to ensuring the technology remains safe, ethical, and accessible to all. The initiative intends to narrow the global AI divide and address concerns regarding transparency, safety, and human rights.

The Nigerian Council of Registered Insurance Brokers (NCRIB) is intensifying efforts to increase national insurance penetration, which currently sits below one percent. During a recent meeting of the Abuja Area Committee, industry leaders emphasized that grassroots sensitization, prompt claims payment, and strategic government partnerships are essential to expanding market reach. The NCRIB has initiated awareness campaigns targeting small business owners and is advocating for payroll-deduction schemes to make insurance more accessible to the general public. Stakeholders noted that while economic challenges remain a barrier, consistent advocacy and improved service delivery are key to building public trust and boosting sector growth.

Bristow Group has officially launched the Airbus H160 helicopter in Nigeria, marking the aircraft’s debut in the African energy sector. Unveiled in Lagos, the medium-twin helicopter is designed for offshore logistics, search and rescue, and emergency medical services. The H160 features advanced Helionix avionics and Blue Edge rotor blades, offering improved safety, reduced pilot workload, and an 18% increase in fuel efficiency compared to previous models. Bristow stated that the deployment serves as a commitment to safety and local capacity building, providing Nigerian pilots and engineers with training on one of the world’s most advanced commercial aircraft.

A new report from SiMODISA warns that South Africa is losing its standing as a leading African startup hub due to restrictive policies and inadequate funding. While ecosystems in Egypt and Kenya are growing rapidly, South Africa’s progress is hindered by regulatory complexity, high compliance costs, and limited early-stage capital. Although cities like Cape Town and Johannesburg remain prominent, experts argue that without a dedicated “Startup Act” and comprehensive policy reforms—such as eased exchange controls and better access to international investment—the country risks falling further behind regional competitors. Analysts emphasize that South Africa has abundant entrepreneurial talent, but current administrative barriers are stifling the ability of these businesses to scale and compete globally.

At the AI Summit 2026 in Lagos, CarbonAI CEO Debola Ibiyode urged Nigeria to adopt “AI Diplomacy” to effectively govern the country’s technological landscape. Ibiyode argued that Nigeria must strike a critical balance between fostering innovation and implementing robust regulations. She warned that without established safeguards to ensure transparency, accountability, and protection against risks like deepfakes, businesses and citizens will remain hesitant to adopt AI systems. By integrating innovation, regulation, and national sovereignty, Ibiyode believes Nigeria can build a secure and profitable AI ecosystem.

The Nigerian Exchange (NGX) All-Share Index recorded a 46.8 percent return in the first half of 2026, driven by strong performance across key sectors. The oil and gas sector led the market with a 90.2 percent gain, bolstered by Seplat Energies and Aradel Holdings. Industrial goods followed with a 79 percent increase, while banking stocks posted a 36.6 percent gain. Conversely, the insurance sector was the only major index to decline, falling by 7.7 percent due to low investor demand and structural challenges.

Flutterwave co-founder Iyinoluwa Aboyeji has criticized the leadership style of Nigeria’s president, arguing that isolation from the daily realities of citizens hinders effective governance. Speaking on a podcast, Aboyeji claimed the president operates within a “constructed reality” shaped by curated briefings rather than direct public engagement, making it difficult to grasp the severity of issues like inflation and economic hardship. Beyond political critique, Aboyeji weighed in on Nigeria’s economic strategy, asserting that the country currently lacks the reliable power, infrastructure, and automation required to compete as a global manufacturing hub. He advised that Nigeria should instead focus on its established competitive strengths in technology and digital services, citing the growth of firms like Flutterwave as evidence of the sector’s potential despite challenging conditions.