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.

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.

Nigeria is experiencing a massive shift toward off-grid solar power as households and major corporations abandon the unreliable national grid. Driven by frequent grid failures and high diesel costs, residential and commercial off-grid solar capacity hit 1.15 gigawatts early this year. Major entities, including the Dangote Group and the Presidential Villa, are increasingly opting for self-generation. This exodus threatens a utility death spiral for distribution companies, which continue to struggle with mounting debts and operational losses despite tariff hikes. Meanwhile, BloombergNEF projects Nigeria’s cumulative solar capacity could reach 87 gigawatts by 2035, positioning the nation as a key market for renewable energy investment.

South Africa is facing a mounting economic crisis as business insolvencies surged by 134 percent month-on-month in July 2026. This trend is compounded by a record unemployment rate of 33.6 percent, with formal job losses totaling 16,000 between April and June. Analysts warn that rising corporate liquidations and a shrinking labor market are eroding consumer confidence and macroeconomic stability, necessitating urgent policy reforms to stimulate private sector growth and curb the cycle of business failure.

ExxonMobil’s Nigerian subsidiary, Esso Exploration and Production Nigeria (Offshore East) Ltd., has commenced the Usan Infill Project at the Usan field in OML 138. The project involves utilizing the Noble Gerry de Souza drillship to execute a $1 billion investment strategy aimed at boosting production by 40,000 barrels per day within 18 months. By focusing on drilling additional wells within existing subsea infrastructure, the operator aims to extend the field’s lifespan and maximize recovery, reflecting renewed international interest in Nigeria’s improved fiscal and regulatory environment.

The British American Tobacco Nigeria (BATN) Foundation has launched a 22,000-tree afforestation project across Kano and Jigawa states. The initiative, in partnership with the Federal College of Agricultural Produce Technology and Ahalson General Enterprises, aims to combat desertification, restore degraded landscapes, and enhance rural climate resilience. The project involves planting a mix of fruit and forest-friendly seedlings, with local community ambassadors tasked with monitoring survival rates to ensure long-term environmental sustainability in the North-West region.

The Minister of the Federal Capital Territory, Nyesom Wike, has pledged to accelerate infrastructure development in Abuja, targeting the completion of 10 key projects before the 2027 general elections. During recent project inspections, Wike assured contractors that the administration would meet its financial obligations to prevent delays. Furthermore, the FCT is enforcing planning regulations, including the removal of structures built on waterways and the relocation of car dealerships currently occupying designated green areas.

The Solid Minerals Development Fund (SMDF) has scheduled two virtual information sessions to assist applicants for the Federal Government’s Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE) programme. The sessions, set for August 20 and 21, 2026, aim to provide clarity on eligibility, funding streams, and the application process for explorers, researchers, and innovators. Launched in June, the EMERGE initiative seeks to address financing gaps in Nigeria’s solid minerals sector and promote investment-ready mining projects.

African stock markets, including Nigeria, Ghana, Tunisia, and Tanzania, are currently among the world’s best-performing exchanges in dollar terms. This rally is primarily driven by domestic investor participation, which accounts for approximately 89 percent of transactions on the Nigerian Exchange. Key factors fueling this performance include improved currency stability, economic reforms, banking recapitalization, and strong corporate earnings. While the rally has drawn global attention, analysts emphasize that future growth depends on the sustainability of these reforms and the potential return of foreign capital to provide deeper liquidity. Investors are increasingly looking past commodity-driven cycles, focusing instead on structural growth areas like financial services, telecommunications, and consumer goods.