The Housing Development Advocacy Network (HDAN) reports a 1.7 million-unit housing deficit in Abuja, driven by rapid population growth, rising rents, and a disconnect between luxury supply and consumer purchasing power. In a new market report, the network warns that low- to middle-income workers are increasingly pushed to city peripheries, creating significant socio-economic strain. HDAN is calling on the Federal Capital Territory Administration and financial stakeholders to implement an affordable housing strategy that prioritizes income-matched residential supply and rent-to-own programs over high-end developments.

Air Peace Limited has issued a formal apology to passengers following a series of significant flight delays and cancellations across its network. The airline’s Chief Operating Officer, Oluwatoyin Olajide, stated that the disruptions were caused by a combination of uncontrollable factors, including false fire alarms, bird strikes, adverse weather conditions, and intermittent Jet A-1 fuel supply bottlenecks. Despite the operational strain, the carrier maintained that it remains committed to its zero-tolerance safety policy, noting that aircraft are only cleared for service after rigorous technical inspections are completed. To stabilize operations, Air Peace is currently implementing measures to reinforce redundancy and improve passenger communication protocols.

Brent crude is nearing the 100-dollar-per-barrel mark as geopolitical tensions in the Middle East escalate. Renewed friction between the United States and Iran, combined with an attack on Saudi Arabia’s Jizan refinery, has heightened concerns over global energy supply disruptions. Iran has threatened to restrict tanker movements through the Strait of Hormuz in response to economic pressure, leading analysts to forecast that security challenges impacting oil flows could persist well into 2027.

ValueJet has entered a strategic partnership with the Ogun State-owned Gateway Air to launch a new daily flight service connecting the Nnamdi Azikiwe International Airport in Abuja to the Gateway International Airport in Iperu. This route, which also transits through Lagos, is designed to serve the increasing demand from investors and business travelers moving between Nigeria’s political capital and Ogun State’s industrial corridors. The service aims to streamline logistics for the state’s manufacturing and agricultural sectors, reducing travel time compared to traditional road transport. ValueJet will provide the operational expertise, leveraging its fleet to ensure consistent, efficient connectivity for the region.

Uyo, the capital of Akwa Ibom State, is set to host the inaugural Global Knowledge Festival from September 17 to 20. The event, convened by The Discovery Centre under the leadership of Mfon Ekpo, will also mark the official commissioning of the Global Knowledge Centre. Designed as a permanent hub for leadership, innovation, and human capital development, the new facility aims to foster institutional collaboration and enterprise across Nigeria and Africa, moving beyond the temporary scope of annual conferences to provide a continuous space for professional networking and idea development.

Alitheia Capital is hosting the third edition of its W.O.M.A.N. (Women in Manufacturing, Agribusiness, and Nutrition) conference in Lagos on September 10–11, 2026. The event aims to bridge the capital and capability gap for over 300 screened women-led MSMEs by connecting them with investors, policymakers, and technical specialists. Focused on scaling enterprises through improved access to finance, energy solutions, and AI, the conference provides practical workshops and investment-readiness support. Participants will receive ongoing tracking via the Nzinga platform to measure progress in capital raising and revenue growth over the next year. Partners include FCMB, Airtel, and the Bank of Industry.

Tourism stakeholders in Akwa Ibom State have called for a dedicated government grant or institution to accelerate the development of the local tourism and hospitality sector. At the 2026 Tourism Roundtable in Uyo, industry leaders, including former Minister Edem Duke, emphasized the need for synergy between the state government and private players to unlock the state’s economic potential. The event highlighted infrastructure and technology as critical drivers for positioning Akwa Ibom as a top national destination.

South Africa’s economy experienced its first contraction in nearly two years during the second quarter, shrinking by 0.2 percent. The downturn, which was deeper than the 0.1 percent economists projected, was primarily driven by declines in the mining, manufacturing, and trade sectors. Statistics South Africa attributed the weak performance to the impact of the ongoing conflict involving Iran, which disrupted global energy markets, pushed up input costs, and dampened business sentiment. Additionally, increased imports and a decline in capital formation further weighed on economic output. While some sectors like construction and agriculture saw growth, it was insufficient to offset the broader contraction. The data presents a challenging backdrop for the South African Reserve Bank ahead of its upcoming monetary policy decision.

Uber has officially discontinued its ride-hailing operations in Nigeria as of September 2, 2026, ending a 12-year tenure in the market. The exit creates significant uncertainty for thousands of drivers relying on the platform for income and vehicle financing, as well as riders seeking reliable mobility alternatives. Bolt, having operated in Nigeria since 2016, is positioned as the primary competitor to absorb the displaced user base, emphasizing its long-term commitment to the market and existing local operational infrastructure. The shift marks a new phase for Nigeria’s ride-hailing sector, where competition will increasingly focus on driver earnings sustainability, safety standards, and local market adaptability.

London-based fintech TranzyPay has launched a B2B payment platform designed to facilitate same-day cross-border transactions between Nigeria and the UK. Regulated by the UK’s Financial Conduct Authority, the firm aims to address inefficiencies in the Nigeria-UK corridor, where traditional banking often imposes multi-day settlement delays for businesses. TranzyPay offers named GBP business accounts, multi-currency capabilities, and integrated compliance infrastructure specifically tailored for Nigerian firms managing recurrent trade and capital flows with the UK.

Nigeria’s expenditure on petrol imports experienced a significant quarterly surge of 989.4% in Q2 2026, climbing to N952.15 billion from N87.40 billion in Q1 2026. Data from the National Bureau of Statistics shows that petrol imports accounted for 6.6% of Nigeria’s total imports during the quarter. Despite this quarterly increase, the figure remains 59.9% lower compared to the N2.38 trillion recorded in the same period last year, reflecting a broader trend of reduced import reliance as domestic refining capacity scales up.

The Debt Management Office has launched the September 2026 Federal Government of Nigeria Savings Bond offer, providing retail investors with annual interest rates of up to 15.12%.

The offer includes a two-year bond maturing in 2028 at 14.12% and a three-year bond maturing in 2029 at 15.12%. Subscriptions are open until September 11, with settlement set for September 16. Interest payments will be made quarterly, and the bonds are listed on the Nigerian Exchange, available at a minimum subscription of 5,000 naira.

Nigeria’s manufacturing sector is showing signs of recovery, with the Nigerian Economic Summit Group (NESG) reporting that the sector recorded the strongest business performance among major industries in August 2026. The Current Business Performance Index for manufacturing rose to 120.4 points, up from 110.5 in July. This growth is supported by increased optimism from manufacturers, driven by recent policy reforms and government initiatives. However, despite this positive sentiment and expanded output, structural challenges such as high production costs, electricity shortages, and limited financing continue to weigh on the sector.

Fortren and Company has released its 2026 ranking of Nigeria’s top 10 property developers, evaluating firms based on completed project portfolios, scale of delivery, and market maturity. Mixta Nigeria secured the top position, reporting 23,000 completed residential and retail units, followed by Brains and Hammers Limited with 11,000 units and Palton Morgan Holdings with 7,000. The assessment highlights a market evolution toward large-scale urban developments and mixed-use estates, primarily concentrated in Lagos and Abuja. UPDC Plc is the only NGX-listed entity featured in the top 10, ranking eighth with 1,000 completed units.

CrusaderSterling Pensions has been appointed as the fund manager for the Nestle Nigeria Staff Gratuity Fund. The firm emerged as the preferred Pension Fund Administrator following a competitive bidding process facilitated by KPMG. This mandate allows CrusaderSterling Pensions to expand its institutional fund management portfolio, leveraging its track record in investment performance and service delivery.

The Nigerian Foreign Exchange Market (NFEM) recorded its lowest trading turnover since April 2, with volume plunging 78.4% to $107.07 million on Monday, September 7. Despite the thin liquidity, the naira appreciated marginally by 0.19%, closing at N1,320 per dollar. This decline in market activity follows a period of high volatility, even as external reserves reached $54.08 billion as of September 3.

Morison Industries Plc reported a loss after tax of N10.28 million for the half-year ended June 30, 2026, deepening from a loss of N4.33 million in the same period of 2025. Although revenue grew by 21.42 percent to N274 million, rising operating and distribution costs weighed heavily on profitability. The firm transitioned from an operating profit of N5.42 million last year to an operating loss of N3.52 million in 2026. Despite the financial performance, the company’s stock has seen significant momentum, posting a year-to-date gain of over 100 percent.

James Agada, the newly inaugurated President of the Institute of Software Practitioners of Nigeria (ISPON), has questioned the accuracy of official data regarding the local software industry’s contribution to Nigeria’s GDP. Although the sector reportedly employs over one million people across more than 100,000 companies, it is officially credited with contributing less than 0.2% to national GDP. Agada suggested this figure likely reflects significant undercounting by the National Bureau of Statistics and highlighted that high expenditure on foreign software licenses continues to drain potential domestic revenue. To address industry visibility and documentation challenges, ISPON plans to launch a National Software Industry Registry within six months to track local innovations and achievements.

A report by BudgIT reveals that Nigerian states’ combined infrastructure spending surged to N6.17 trillion in 2025, up from N1.489 trillion in 2022. This represents a 314 percent nominal increase and a compound annual growth rate of 60.57 percent. Lagos State led the spending, which was fueled by increased Federation Account allocations and improved fiscal capacity. Capital expenditure on infrastructure as a share of total state spending rose from 23.95 percent to 34.49 percent, with road construction and public works accounting for nearly 69 percent of the total investment.