The Nigerian Federal Ministry of Education is set to launch the Digital National Education Management Information System (DNEMIS) on July 1. This initiative aims to standardize education data management, replacing historically fragmented systems with a unified digital platform. DNEMIS will capture real-time data on learners, teachers, and school investments to improve policymaking, budgeting, and accountability. Additionally, the platform will digitize the Annual School Census and introduce a public portal for accessing official education data. Long-term goals include integrating teacher management and individual learner records—including unique identifiers to track student enrollment and dropout rates—into a single national system by the end of next year. The rollout coincides with the government’s inaugural nationwide learning assessment.

Access Bank has launched a new vehicle financing initiative in Nigeria, allowing individuals and businesses to purchase new or certified pre-owned vehicles with a minimum deposit of 10 percent. The bank will provide financing for the remaining 90 percent, with repayment tenures exceeding four years. The program, which features a digital application process, partners with major manufacturers such as CIG, Mikano, Kewalram, and Stallion Motors. Designed to ease vehicle ownership amid rising costs, the initiative offers flexible loan restructuring options for borrowers facing financial challenges and is open to individual consumers, corporate organizations, and small businesses.

The National Bureau of Statistics (NBS) reports that the average cost of a healthy diet in Nigeria climbed to N1,589 per adult per day in April 2026. This figure represents a 3.12% increase from March 2026 and a 4.74% rise compared to April 2025.

Regional disparities remain significant: Ekiti, Imo, and Bayelsa recorded the highest daily costs, exceeding N1,900, while Adamawa, the Federal Capital Territory, and Akwa Ibom reported the lowest. By zone, the South-East is currently the most expensive region for healthy eating. Animal source foods remain the primary cost driver, accounting for 40% of the total expense despite providing only 13% of daily caloric needs. The NBS notes that while some staples like grains and oils have seen price declines, rising costs across most other food groups continue to strain household food budgets.

Kuwait has updated its labour regulations to allow foreign workers to change employers before completing one year of service, provided specific conditions are met. Under the new policy, employees can transfer if their employer fails to pay wages, neglects residency permit procedures, or commits legal violations that justify contract termination. Additionally, workers can switch if their employer’s labour file is suspended or if an absconding complaint against them is proven false. This reform aims to improve worker protections and increase employer accountability, marking a significant shift from previous rules that mandated a minimum one-year tenure for expatriate staff.

The Federal Competition and Consumer Protection Commission (FCCPC) has formally dismissed reports claiming it recently licensed 48 new digital loan applications. The commission clarified that no new licenses have been issued under the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025.

The FCCPC stated that it is strictly complying with a Federal High Court ex parte order that suspended the implementation of these regulations. Consequently, the agency has urged the public to disregard misleading information and rely exclusively on official channels for regulatory updates. This is the latest in a series of disclaimers issued by the commission to address false claims regarding its activities in the fintech sector.

Providus Bank and Unity Bank have officially merged to form a new entity, ProvidusUnity Bank, following final regulatory and judicial approvals. The merger combines Providus Bank’s digital technology with Unity Bank’s extensive national branch network to create a stronger financial institution. The bank aims to improve capital strength, increase lending capacity, and support Nigeria’s economic growth. While management has promised uninterrupted service for customers, the consolidation has faced scrutiny, including reports of recent staff layoffs at Unity Bank. The new institution plans to integrate operations to provide expanded retail, corporate, and SME banking services.

The Nigerian Education Loan Fund (NELFUND) has issued a stern warning to tertiary institutions delaying or refusing to refund tuition fees to students who had already paid before receiving NELFUND loan disbursements. NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, also raised alarms regarding reports of institutions arbitrarily increasing tuition and charges. The agency emphasized that the loan scheme, introduced by President Bola Tinubu, is intended to remove financial barriers to education, not create further burdens for students. NELFUND is currently engaging with the affected institutions and relevant authorities to ensure prompt refunds and to promote fair, transparent fee structures.

Eko Electricity Distribution Plc (EKEDP) reported a total blackout across its Lagos franchise area following a national grid failure on Sunday, June 28, 2026. The outage, which began at 1:49 p.m., is attributed to a transmission-level fault outside the company’s direct control. EKEDP has apologized for the disruption and is currently working with relevant authorities to restore power, though no specific timeline for restoration has been provided. This incident highlights ongoing vulnerabilities within Nigeria’s national electricity transmission system.

The landing cost of imported petrol in Nigeria has dropped to N1,003 per litre, driven by a global decline in crude oil prices following the easing of geopolitical tensions in the Middle East. This reduction also extends to diesel and cooking gas.

The decline highlights a growing price gap between imported fuel and the N1,125 ex-depot price currently offered by the Dangote Refinery. Consequently, industry stakeholders are calling on the refinery to implement further price cuts to reflect current global market trends. While retail pump prices remain high for consumers, the reduced import costs are fueling expectations for potential relief at the pump in the coming weeks.

Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has ordered petroleum marketers to reduce pump prices for Premium Motor Spirit (PMS) to align with falling global oil prices. Lokpobiri emphasized that while the downstream sector is deregulated, marketers must not exploit the market for excessive profit. The directive follows concerns from the Federal Competition and Consumer Protection Commission (FCCPC) that local retail prices have failed to reflect international crude price declines. The Minister stressed that regulators must ensure price fairness and accurate product measurement for consumers, while fostering a predictable environment for long-term investment.

The Nigerian government has launched an initiative to provide free Corporate Affairs Commission (CAC) registration for 250,000 Micro, Small and Medium Enterprises (MSMEs). Announced by President Bola Tinubu, the program aims to formalize small businesses, improve financial inclusion, and remove financial barriers to legal registration. Beyond the fee waivers, beneficiaries will receive business development training and support to improve enterprise sustainability. Interested business owners can apply by submitting their details through the official SMEDAN portal. The project is a collaboration between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the CAC to bolster the country’s MSME sector.

United Bank for Africa (UBA) has engaged thousands of employees across 20 African nations in its quarterly “Jogging to Bond” initiative. This year’s event, themed “The Power Within U,” combined fitness activities with a coordinated environmental clean-up campaign across the bank’s operating markets. The initiative coincided with the 60th birthday of Group CEO Oliver Alawuba and serves as part of the bank’s broader Environmental, Social, and Governance (ESG) strategy to foster employee wellness while contributing to community sustainability.

Ikeja Electric has named Ogochukwu Onyelucheya as its new Acting Chief Executive Officer, effective July 1, 2026. She succeeds Folake Soetan, who has held the position since 2020. The company stated the leadership change is intended to drive innovation and operational efficiency. Onyelucheya brings over two decades of experience in the banking and energy sectors to the role. The board praised the outgoing CEO, Soetan, for her transformative tenure at the firm. This transition follows a recent period of regulatory scrutiny involving the Federal Competition and Consumer Protection Commission.

Following a volatile first half of 2026, global markets are bracing for a complex second half defined by macroeconomic shifts and policy adjustments.

In Nigeria, the equities market remains a key focus. Despite recent pullbacks, the banking sector—including major players like Zenith Bank, UBA, and Access Holdings—is viewed as attractively priced for long-term investors. Cement producers, such as Dangote and BUA, maintain strong pricing power, while telecommunications leader MTN Nigeria continues to benefit from data and payment growth. For conservative investors, fixed-income assets remain strong, with Treasury Bills offering tax-free yields between 18% and 22%. Other growing domestic opportunities include agro-processing, real estate in emerging hubs like Epe, and green infrastructure projects.

In the United States, the investment landscape is shifting toward the AI infrastructure “supercycle.” Tech giants are expected to pour $800 billion into hardware, data centers, and power generation. Defense and supply chain resilience also offer stability amid rising geopolitical tensions.

Meanwhile, the cryptocurrency sector has faced a sharp correction, with Bitcoin and Ethereum shedding significant value. While the asset class remains risky, some analysts believe deep value may emerge toward the fourth quarter, with investors currently favoring stablecoins to mitigate volatility.

Nigeria’s new vehicle market is projected to grow by 7.6% in 2026, building on a 20% increase in 2025, according to a report by BMI. Key drivers include the full operational capacity of the Dangote Refinery, which is boosting fuel supply and supporting the naira, alongside cooling inflation and government incentives for electric vehicles. While the outlook is positive, challenges remain, including the dominance of the used-vehicle market, currency pressures, and potential geopolitical instability. Additionally, the broader Sub-Saharan Africa region faces a downgraded growth forecast for 2026 due to global economic risks and reliance on imports.

The Canadian government has announced a $5.6 million investment in Alberta to support Black-owned businesses under its Black Entrepreneurship Program. The funding, managed by PrairiesCan, aims to remove systemic barriers to growth such as limited access to capital, mentorship, and professional networks. The investment will be distributed among three organizations: $2.6 million to the Council for the Advancement of African Canadians (Africa Centre) and partners for the ACT project; $1.5 million to the BIPOC Foundation to expand its Founders Hub; and $1.5 million to the Black Canadian Women in Action Society for services tailored to Black female entrepreneurs. The government anticipates that these initiatives will support 950 businesses, train 720 entrepreneurs, and create approximately 280 jobs by March 2030.

The Central Bank of Nigeria (CBN) has launched the “Naira Ambassadors Club,” a nationwide initiative aimed at educating youths on the proper handling and preservation of the national currency. CBN Governor Olayemi Cardoso emphasized that the naira is a vital symbol of Nigeria’s identity and sovereignty, rather than just a medium of exchange. The program, which debuted with secondary school students in the Federal Capital Territory, seeks to curb common abuses such as stapling, tearing, defacing, and spraying money at events. According to the CBN, these practices shorten the lifespan of banknotes and force the bank to incur significant, unnecessary costs for replacements. The initiative is part of a broader strategy to instill a sense of national responsibility toward protecting the integrity of the currency.

Bharti Airtel Limited has completed an internal corporate restructuring by acquiring a 16.35% stake in Airtel Africa from its subsidiary, Indian Continent Investment Limited (ICIL). The transaction, finalized on June 22, 2026, involved a share-for-share swap where ICIL transferred approximately 595.2 million shares of Airtel Africa to Bharti Airtel in exchange for roughly 146.8 million newly issued shares in Bharti Airtel.

This move simplifies the Bharti Group’s ownership chain by consolidating direct control of Airtel Africa under its main operating company, Bharti Airtel. As a result, Bharti Airtel’s direct interest in the Africa-focused telecoms provider has increased from 62.32% to 79.22%. The transaction was purely internal, involved no cash, and does not change the group’s overall economic interest in Airtel Africa. Furthermore, it has no impact on public shareholders, operations, or the company’s listings on the London and Nigerian stock exchanges.

Access Holdings has announced the retirement of Bolaji Agbede, Executive Director of Business Support, effective June 30, 2026. Having served the group since 2003, Agbede held various leadership positions, including Group Head of Human Resources. Notably, she served as Acting Group Chief Executive Officer from February 2024 to August 2025, providing essential leadership and stability following the death of former CEO Herbert Wigwe. The Board of Directors has publicly commended Agbede for her professionalism and significant contributions to the firm’s growth and continuity.