Major Nigerian manufacturers are increasingly bypassing commercial bank loans for capital market instruments like commercial papers and bonds to reduce financing costs. An analysis of 12 top-listed companies revealed that combined loans and borrowings dropped by 48.7 percent to 2.03 trillion naira in the first half of 2026. This shift comes as manufacturers face high lending rates and systemic credit aversion from banks, forcing a reliance on alternative fixed-income funding to manage working capital and liquidity.

The Securities and Exchange Commission (SEC) has unveiled a comprehensive regulatory framework for Nigeria’s digital asset ecosystem, introducing significant entry costs and operational requirements. Under the proposed rules, digital asset exchanges and custodians must possess a minimum capital of N2 billion, while other operators face requirements ranging from N200 million to N500 million. All entities must pay a N30 million registration fee, hold fidelity insurance, and maintain a physical presence in Nigeria with key leadership residing in the country. The framework mandates that all applicants undergo the Accelerated Regulatory Incubation Programme (ARIP) and comply with ongoing supervisory fees based on annual turnover. This policy follows the Presidential Executive Order on Virtual Assets and recent tax guidelines, further cementing the regulatory oversight of crypto and tokenized assets in the country.

The Securities and Exchange Commission (SEC) has proposed new investment caps for retail participants in the digital asset market. Under the draft rules, retail investors are limited to a maximum of N1 million per issuer and N10 million in total aggregate investments over any 12-month period. Digital asset platforms will be mandated to enforce these limits, ensure proper investor categorization, and confirm that users understand the high-risk nature of these investments. These measures are designed to strengthen consumer protection in Nigeria’s rapidly growing crypto sector. Institutional and high-net-worth investors may be exempted from these specific thresholds.

Guinness Nigeria Plc has launched the Guinness Lounge at Magic Padel, located within the Federal Palace Hotel in Victoria Island, Lagos. This partnership integrates the brand into the growing sports and hospitality scene by offering a dedicated space for social interaction and relaxation alongside padel sporting facilities. The initiative is part of the company’s ongoing strategy to engage consumers through contemporary lifestyle experiences.

The Ajegunle Business School (ABS) recently hosted its 8th Economic Summit and Business Fair in Lagos, highlighting its ongoing efforts to drive grassroots entrepreneurship. Since its founding, the non-profit institution has trained over 900 entrepreneurs, offering tuition-free vocational and business management training. Founder Alfred Konaughe noted that the school facilitates access to growth capital, helping over 30 graduates secure loans between N1 million and N5 million from the Bank of Industry this year. The school plans to expand its training model to other communities, including Mowe and Ikorodu.

The Makeup Fair Series (TMUFS) celebrated its 140th overall edition with the 19th Lagos Makeup Fair, held from August 8 to 9, 2026, in Ikeja. The event featured over 60 vendors and served as a vital platform for indigenous beauty brands to gain market visibility, test products, and connect directly with consumers. Beyond retail, the fair provided professional training on industry standards, including skin-prep techniques and applications for diverse skin tones, reinforcing its role in the growth of Nigeria’s beauty and creative sector.

The Limitless Without Borders (LWB) conference recently held its inaugural Lagos edition, aiming to equip Nigerian professionals, founders, and creators with the skills needed to bridge the gap between local talent and global market opportunities. During the summit, LWB founder Rukayat Alabi emphasized that while Nigerian talent is abundant, international success requires strategic positioning and transferable skills. Scott Haughton, co-founder of UK-based Envestors, noted that many Nigerian visa applicants face rejection due to a lack of market research and innovation evidence. Experts at the event underscored that competing globally requires solving specific, real-world problems rather than relying on technical skills alone. The conference drew delegates from across Nigeria and the UK to address business and career mobility.

FrieslandCampina WAMCO Nigeria PLC, through its Three Crowns Milk brand, engaged thousands of mothers at the 2026 August Meeting in Owerri, Imo State. The event focused on promoting health and wellness, while providing empowerment sessions on finance and agriculture. The initiative included gifting business equipment to 30 underserved women, reinforcing the brand’s commitment to supporting economic resilience and community well-being among Nigerian mothers.

Folakemi Oloye, founder of Teal Harmony, is launching a masterclass to help interior design firms in Nigeria transition from high-risk trades into sustainable enterprises. The program focuses on implementing structured operational systems, corporate governance, and technical rigor to improve profitability and client trust. Oloye highlights that adapting business models to local economic realities, rather than importing foreign templates, is critical for long-term growth and sustainability in the Nigerian creative sector.

The Dangote Petroleum Refinery has increased its ex-gantry price for Premium Motor Spirit (PMS) by N20 to N1,185 per litre, effective August 21. This adjustment, which follows the refinery’s strategy of linking pricing to global crude costs and replacement values, keeps its price below prevailing Lagos depot rates and the current import-related landing cost of N1,218 per litre as estimated by the Major Energy Marketers Association of Nigeria.

The Nigerian equities market continued its bearish trend on Thursday, marking eight consecutive sessions of losses. The NGX All-Share Index fell 0.30% to close at 240,037.80 points, as investors continued aggressive profit-taking. Market capitalisation dropped by N440.33 billion to N154.98 trillion, bringing the total value lost over the eight-day period to approximately N5.44 trillion.

Heavyweight stocks, particularly in the Oil & Gas and banking sectors, led the decline. Aradel Holdings was a primary drag, falling 5.40%, while UBA, Access Holdings, Zenith Bank, and GTCO also closed in the red. The Oil & Gas sector remains the worst performer during this correction, down roughly 7% since August 14. Despite the sustained pullback, the market maintains a year-to-date gain of 54.3%.

Aliko Dangote has offered East African countries a combined 30 percent equity stake, valued at approximately $1.5 billion, in his proposed $17 billion oil refinery project in Lamu, Kenya. David Ndii, economic adviser to Kenyan President William Ruto, confirmed that Kenya is considering a 10 percent stake worth $500 million, while Ethiopia and Rwanda have also expressed interest. The project, which shifted from an initial plan in Tanzania, aims to reduce the region’s reliance on imported petroleum and serves as a major expansion of Dangote’s energy footprint across the continent. This follows the group’s ongoing capital raising efforts in Nigeria, where its refinery recently secured a $1 billion underwriting program ahead of a planned IPO.

Geregu Power Plc Chairman, Abdul’aziz Yari, has personally funded the company’s N6.03 billion outstanding bond obligation to protect investors and maintain market confidence. The payment, which covers the eighth coupon and a portion of the principal on the firm’s N40.08 billion Series 1 Fixed Rate Bond, was officially confirmed to the Nigerian Exchange. Yari stated the intervention addresses legacy obligations from previous management and that discussions regarding reimbursement and resolution are ongoing. This move follows a period of market uncertainty after a technical default, which had previously led to the withdrawal of the company’s credit rating by Agusto & Co.

The Nigerian Electricity Regulatory Commission has inaugurated a five-member interim board for the Kaduna Electricity Distribution Company to address severe financial and operational failures. This follows the August 10 dissolution of the previous board after the DisCo accumulated over N450 billion in market debt. In a separate development, the Federal Airports Authority of Nigeria has ejected a parking management company from Nnamdi Azikiwe International Airport in Abuja, following complaints of illegal fine collection. FAAN is currently seeking a replacement service provider.

The Federal Government has declared Tuesday, August 25, 2026, a public holiday to commemorate Eid ul Mawlid, marking the birth of Prophet Muhammad. The announcement, made by the Minister of Interior, Olubunmi Tunji-Ojo, encourages citizens to use the occasion to reflect on values of compassion, humility, and peaceful coexistence. The holiday is observed nationally as part of the country’s commitment to religious diversity and inclusiveness.

African Reinsurance Corporation (Africa Re) reported a net profit of $96.7 million for the first half of 2026, marking a 6.1% year-on-year decline. The performance was pressured by a $19.6 million foreign exchange loss and a 26.6% increase in incurred claims to $358.9 million. Despite these headwinds, the firm achieved an 8.5% rise in insurance service revenue to $664.8 million and maintained a strong combined ratio of 84.7%. Group Managing Director Corneille Karekezi attributed the results to resilient underwriting and effective retrocession management, noting that the profit dip was primarily driven by currency volatility rather than portfolio quality. The company ended the period with a solid balance sheet, including $1.44 billion in shareholders’ equity.

The Lagos State Government has launched its Industrial Policy 2025–2030, a strategic blueprint aimed at increasing the manufacturing sector’s contribution to the state’s real GDP to 10.2% by 2026. The policy centers on six pillars, including infrastructure development, regulatory reforms to streamline business operations, and the provision of low-interest credit for small businesses through the Lagos Industrial Development Fund and the Bank of Industry. While officials emphasized that successful implementation is key to transforming the sector, manufacturers expressed concerns regarding policy inconsistency, high energy costs, and multiple taxation that continue to hinder productivity.

Nigeria’s benchmark stock index hit a six-week low on Thursday, retreating from recent peaks as investors engaged in profit-taking. This market correction led to a combined $2.35 billion decline in the estimated net worth of four prominent Nigerian billionaires: Aliko Dangote, Abdul Samad Rabiu, Mike Adenuga, and Femi Otedola. Analysts characterize the downturn as a normal cyclical adjustment rather than a fundamental shift, citing third-quarter seasonality and investors rotating capital into fixed-income securities. Despite the pullback, the market maintains a 55.9 percent year-to-date return, supported by ongoing corporate earnings and regulatory reforms.

The National Pension Commission (PenCom) has raised concerns over the slow pace of the mandatory data recapture exercise for Retirement Savings Account (RSA) holders. As of the end of the first quarter of 2026, over 80% of legacy pension records remain uncaptured, potentially complicating future benefit access for millions of workers. PenCom reports that at the current rate, completing the process would take over 25 quarters. To accelerate progress, the commission is set to impose quarterly targets on Pension Fund Administrators (PFAs) and warned that underperforming operators will face regulatory sanctions. Meanwhile, industry-wide pension assets grew to N29.52 trillion in Q1 2026, driven largely by equity revaluation.