The Nigerian Education Loan Fund (NELFUND) has secured new funding streams following a directive from President Bola Ahmed Tinubu. Under the initiative, the agency will receive recovered liquid assets from the Economic and Financial Crimes Commission (EFCC), as well as unclaimed dividends from the Capital Market Trust Fund and Dormant Account Trust Fund. NELFUND reports it has already disbursed over 322 billion naira to more than 1.6 million applicants as of August 2026, and this capital injection aims to ensure the long-term sustainability of the student financing scheme.

The Jigawa State Government has initiated talks with the Egyptian firm EFC Plants to adopt advanced tissue culture technology for date palm and Irish potato production. Governor Umar Namadi, leading a delegation to Cairo, stated the goal is to secure a long-term partnership involving technology transfer, local capacity building, and private investment. By producing certified, disease-free plantlets locally, the state aims to boost agricultural productivity and establish itself as a national biotechnology hub.

The Federal Government has commenced the construction of 250 housing units for civil servants in Dukpa, Gwagwalada, Abuja. The project, which consists of two- and three-bedroom bungalows, is a collaboration between the Federal Ministry of Housing and Urban Development and the Office of the Head of the Civil Service of the Federation. This initiative aims to increase affordable housing stock, bringing the total provided under this specific programme to 600 units. The government further announced plans to deliver additional housing projects across Lagos and Abuja by year-end. Separately, the ministry has set a verification exercise for September 2026 for beneficiaries affected by land reallocations in the Dukpa area.

The Federal Government has reported N15.8 trillion in savings from petrol subsidy removal between June 2023 and December 2025. Finance Minister Taiwo Oyedele stated that these funds, alongside other revenue gains, were utilized to support infrastructure, debt servicing, and wage adjustments for workers. Despite these reported fiscal improvements, households continue to face severe inflationary pressure on food, energy, and transportation. Critics, including Atiku Abubakar, are demanding greater transparency, questioning the tangible impact of these savings on the welfare and purchasing power of Nigerians.

The Federal Government of Nigeria is calling on banks and fintech operators to bridge the nation’s $14.8 billion annual gender financing gap by redesigning financial models to better serve women. Speaking at the National Gender Inclusion Conference in Abuja, Minister of Women Affairs Imaan Sulaiman-Ibrahim noted that existing systems often fail to account for women’s limited access to traditional collateral. The Securities and Exchange Commission (SEC) also signaled plans to lower entry barriers to the capital market, citing current participation rates for women in corporate leadership and executive roles at below 15% and 7% respectively. Government officials emphasized that closing this gap is a significant commercial opportunity that could boost national output by up to 23%.

Keystone Bank has inducted 62 young professionals into its workforce following the completion of its 29th Banking School Programme. The four-month intensive training covered essential areas including financial analysis, risk management, and regulatory compliance. Managing Director Hassan Imam stated that this investment in talent is vital for the bank’s continued growth, digital innovation, and future service delivery standards. The program is aligned with the Chartered Institute of Bankers of Nigeria curriculum.

United States President Donald Trump has declared a campaign of economic warfare against Iran, promising severe consequences for any nation, business, or financial institution that provides economic support to Tehran. The announcement, which Trump described as an economic D-Day, aims to isolate Iran through aggressive sanctions targeting oil smuggling, cash transfers, and front companies. While crude oil prices remained relatively stable following the announcement, the prolonged conflict continues to impact global markets and exert upward pressure on transportation and food costs in Nigeria.

The House of Representatives Committee on Delegated Legislation has urged the Nigerian Civil Aviation Authority (NCAA) to enforce the immediate collection of outstanding statutory remittances from local airlines. During a recent oversight visit to the agency’s Abuja headquarters, lawmakers demanded stronger regulatory mechanisms to ensure compliance, citing concerns over recurring flight disruptions. In response, NCAA officials noted that ongoing efforts to improve industry capacity include new aircraft lease arrangements and a forthcoming system to automatically rebook passengers during cancellations. The regulator is also finalizing amendments to the Civil Aviation Act to further strengthen its oversight mandate.

Nigeria’s energy inflation rate declined to 4.37% in July 2026, marking its lowest level in four months. This represents a significant drop from the 9.83% recorded in June. Despite this moderation, energy costs—spanning fuel and electricity—remain the primary driver of inflationary pressure for both businesses and households, according to recent Central Bank of Nigeria surveys. While the decline offers some relief, high living costs and elevated borrowing rates continue to weigh heavily on consumer spending and corporate expenditure.

Nigeria’s electricity distribution companies face a deepening financial crisis as major industrial players and households increasingly abandon the national grid for self-generation. Driven by persistent grid instability, entities including Dangote Group, NNPC Limited, and Total have joined roughly 250 other firms in generating their own power. This industrial exodus, mirroring a trend led by residential solar adoption, has resulted in an estimated 6,500 megawatts of captive power—significantly outpacing the national grid’s supply. Analysts warn this trend creates a ‘death spiral’ for utility firms, which are already struggling with over N6 trillion in sector debt, as the loss of reliable, high-paying customers leaves them with a shrinking, less-profitable base. Nigeria added 803 megawatts of solar capacity in 2025, with projections suggesting a potential reach of 87 gigawatts by 2035.

A new report from Comercio Partners analyzing Nigeria’s economic performance over the last decade highlights persistent structural fiscal and security challenges. While tax revenue has increased due to reforms and inflation, the country faces a critical debt-servicing burden, with the IMF projecting that over half of federal revenue could be consumed by debt payments by 2026. Furthermore, insecurity remains a significant economic drag, contributing to food inflation, logistics bottlenecks, and reduced foreign investment. The report warns that the upcoming 2027 election cycle may complicate the government’s ability to maintain the pace and credibility of necessary economic reforms.

The Nigeria Revenue Service is implementing a new regulatory framework aimed at taxing cryptocurrency transactions, as the government seeks to broaden its tax base to meet its 2026 revenue target of N40.7 trillion. While Nigeria recorded approximately $92.1 billion in crypto transaction value between mid-2024 and mid-2025, officials caution that this figure does not equate to taxable income. The core challenge for authorities lies in linking digital wallet activities to identifiable taxpayers, particularly as users increasingly move assets into peer-to-peer markets and self-custodied wallets beyond regulated exchanges. Under the new guidelines, virtual-asset service providers are now required to collect Tax IDs and maintain detailed transaction records to help the government identify taxable income within the sector.

eTranzact International Plc reported a 22.6% revenue growth to N16.28 billion for the first half of 2026, driven by expansion in its agent banking and POS networks. However, profitability declined, with profit after tax falling as rising costs outpaced revenue gains. Operating profit dropped 23.2% to N1.59 billion due to increased administrative expenses and costs of sales. The company also faces structural headwinds from the reduction in NIBSS payment switching fees and negative operating cash flow, alongside an ongoing legal case involving alleged fraudulent platform transactions. Additionally, Trademarks Global Concepts Limited has emerged as the company’s majority shareholder with a 56.18% stake.

AXA Mansard Health has launched the iMED International Healthcare Plan, providing Nigerians with access to specialized medical treatment globally. The plan covers critical conditions including cancer, organ transplants, and bone marrow transplants, with care available at accredited facilities in Nigeria, the United States, the United Kingdom, and Dubai. Designed for individuals and corporate clients, the initiative aims to bridge gaps in local healthcare access by offering comprehensive coverage for complex medical procedures and chronic conditions.

The Nigerian stock market has recorded seven consecutive days of decline, with market valuation closing at approximately N156 trillion. Analysts describe this as a healthy market correction driven by sector rotation, as institutional investors and fund managers shift capital from equities into higher-yielding, risk-free government debt.

The banking sector, which previously saw sharp rallies, is currently experiencing localized profit-taking. Meanwhile, heavyweight stocks in the oil and gas sector are consolidating. Despite the broad market pullback, institutional interest remains present in blue-chip banking and consumer goods counters, with market indicators suggesting a period of accumulation rather than a major selloff. Factors influencing this cautious investor sentiment include ongoing bank recapitalization requirements and shifting macroeconomic policies.

Minister of Finance Taiwo Oyedele has released a performance scorecard for the Tinubu administration’s economic reforms, highlighting improvements in fiscal sustainability and macroeconomic indicators. According to the report, the government generated N20.4 trillion in incremental revenue against N30.64 trillion in expenses, with the latter driven largely by wage adjustments, debt servicing, and infrastructure investments. While the report notes gains in foreign reserves (up to $52.5 billion), capital importation, and GDP growth, it acknowledges persistent household economic pressure. The government remains committed to its reform agenda, aiming to further reduce inflation and improve fiscal efficiency.

The Economic and Financial Crimes Commission (EFCC) has arraigned Gideon Bakpa Aghogho and Oscar Ebere Chukwuebuka before the Federal High Court in Lagos for the alleged unlawful sale of First City Monument Bank (FCMB) access credentials. The suspects reportedly conspired to supply local administrative credentials to a bank virtual platform in exchange for $15,000. One defendant pleaded not guilty while the other pleaded guilty. Justice F.N. Ogazi has adjourned the case to August 27, 2026, and remanded both defendants in custody.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has pledged to enhance regulatory certainty and market transparency to boost investment in Nigeria’s petroleum sector. Speaking at the PENGASSAN Energy and Labour Summit, authority representatives highlighted that predictable, efficient regulation is essential for attracting long-term capital into refineries, pipelines, and gas processing infrastructure. Industry stakeholders also emphasized the importance of human capital development, urging operators to prioritize workforce upskilling to support energy transition goals and operational stability.

The Nigeria Economic Summit Group (NESG) projects that Nigeria’s crude oil production will exceed 1.7 million barrels per day (mbpd) in the second half of 2026. This anticipated growth is driven by improved pipeline security, reduced oil theft, and increased upstream investment. The NESG also forecasts oil prices to range between $70 and $80 per barrel, providing fiscal relief as this exceeds the national budget benchmark of $64.85. While progress continues, the output remains below the government’s 1.84 mbpd target.