The Federal Government has announced a November 2026 completion target for the final 164-kilometer stretch of the Abuja-Kaduna-Zaria-Kano highway. Minister of Works, Dave Umahi, confirmed that over 200 billion Naira has been invested in the project, with more than 80 percent of payments made. To combat infrastructure vandalism, the government plans to deploy a dedicated highway guard and install solar streetlights along the corridor. Additionally, the dualization of the 250-kilometer Makurdi-9th Mile-Enugu road is progressing, with an expected completion date of February 2028.

The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Plc (KAEDC) and removed all its directors following persistent financial and operational underperformance. An interim board has been appointed, with Abubakar Umar Hashidu serving as administrator for the next six months. The regulator cited severe issues, including a 71.88 percent aggregate technical and commercial loss rate, low metering, and a market debt burden that reached 456.5 billion naira by May 2026. NERC has tasked the African Export-Import Bank with leading a competitive process to identify a new core investor for the DisCo within the next 12 months.

Mastercard has appointed Yasemin Bedir as the new President for its Eastern Europe, Middle East, and Africa (EEMEA) region, effective September 1. Bedir, a 20-year company veteran, succeeds Dimitrios Dosis, who is transitioning to the role of Chief Commercial Payments Officer. In this new capacity, Bedir will join the Mastercard Management Committee and oversee operations across 81 countries, focusing on partnerships with retailers, fintechs, and financial institutions.

Nigerian crypto exchange Roqqu has launched a tokenized stock investment feature, enabling users to access and trade global equities directly on its platform. The new product is designed to lower barriers to entry by allowing fractional investments, eliminating traditional brokerage friction, and providing round-the-clock access to global financial assets. Roqqu frames this move as part of its transition into a comprehensive trading ecosystem focused on tokenized real-world assets.

United Bank for Africa (UBA) has launched an auto financing scheme in partnership with Mikano Motors titled Drive Your Dream Today. The initiative allows customers to acquire new vehicles with a 30 percent down payment, while UBA provides 70 percent financing. The facility is available to both salaried employees and self-employed individuals, featuring a 36-month repayment period at a 23 percent interest rate. Interested customers can complete an eligibility check at any UBA branch.

Romat Group has launched an integrated shopping and procurement platform, marking a strategic shift from a service-oriented business model to a technology-enabled retail operation. The platform consolidates the group’s transport, energy, and technology subsidiaries, allowing customers to purchase products ranging from solar systems and IT equipment to office furniture, while simultaneously accessing necessary installation and technical support services. CEO Matthew Aroh stated that the initiative aims to simplify procurement for businesses and individuals by acting as a single point of access for essential infrastructure, thereby driving new product sales and recurring revenue.

Heirs Life Assurance, a member of Heirs Insurance Group, has appointed Jerry Eze as an Independent Non-Executive Director, effective August 10, 2026. The appointment aims to leverage Eze’s leadership and community influence to boost financial inclusion and build public trust in the Nigerian insurance sector. Eze is the founder of Streams of Joy International Ministry and has a background in development communications, having previously worked with the World Bank and the United Nations Population Fund. Heirs Life Assurance, led by Chairman Tony Elumelu, is currently one of Nigeria’s fastest-growing insurance providers.

Omatek Ventures Plc reported a 148.9 percent increase in its half-year 2026 loss, which rose to N31.43 million compared to N12.63 million in the same period last year. Revenue remained minimal at N1 million, generated solely from its engineering unit, while manufacturing and trading operations saw no sales. The firm continues to grapple with a negative equity position of N2.73 billion. Despite these deteriorating fundamentals and an absence of recent capital injection, Omatek shares have rallied 40 percent year-to-date, reflecting investor speculation surrounding potential turnaround strategies.

The domestic price of gold in Nigeria has reached approximately N220,000 per gram, as local traders integrate a 5% to 10% markup over global spot rates. Market participants are currently cautious, awaiting upcoming US Consumer Price Index data to gauge the metal’s next move. Gold’s performance remains supported by its role as a hedge against inflation and ongoing geopolitical tensions, bolstered by the Central Bank of Nigeria’s National Gold Purchase Program, which provides a price floor for domestic miners and dealers.

Caverton Offshore Support Group Plc reported a narrowed quarterly loss for the second quarter of 2026, signaling a potential shift toward recovery. While H1 revenue declined to N14.68 billion, the firm saw a 41.2% quarter-on-quarter revenue increase, driven by significant growth in its marine operations. Despite this improved operating momentum, the company remains loss-making with an H1 loss of N8.69 billion, heavily pressured by N8.37 billion in net finance costs and negative equity.

The Nigeria Civil Aviation Authority (NCAA) is set to mandate Radio Frequency Identification (RFID) baggage tracking technology across all Nigerian airports to combat frequent luggage delays and loss. This automated system will replace traditional barcode scanning, providing real-time visibility for both airlines and passengers via a dedicated mobile application. The initiative, developed in collaboration with the Federal Airports Authority of Nigeria (FAAN), aims to launch by year-end, with regulatory updates underway to enforce compliance across all domestic and international carriers.

Stateside Microfinance Bank Limited CEO, Ehizojie Ohiowele, has advocated for increased collaboration between regulators, financial institutions, and gaming operators to harness Nigeria’s $2 billion iGaming market. Speaking at the Enugu Gaming Conference 2026, Ohiowele emphasized that the industry is a key component of the digital economy, bridging technology, payments, and financial services. He urged banks to evolve their offerings to provide necessary infrastructure, such as settlement solutions and liquidity, while maintaining strict regulatory compliance and governance standards.

The Nigerian naira emerged as one of the top ten best-performing African currencies in July 2026, recording a 0.58% appreciation against the U.S. dollar. Data from Nairametrics Research indicates the naira moved from 1,376 per dollar at the end of June to 1,368 per dollar by the end of July. The Botswana pula led the continent’s gains with a 3.18% increase, followed by the Seychellois rupee and the Comorian franc. Conversely, the South Sudanese pound, Egyptian pound, and Ghanaian cedi faced the sharpest declines during the month.

The United Nations Children’s Fund (UNICEF) has identified 3.5 million unregistered children across seven states in Nigeria, including Lagos, Ogun, Oyo, Osun, Ondo, Ekiti, and Edo. The lack of formal birth registration hampers the government’s ability to plan for essential services such as schools, hospitals, and vaccination programs. UNICEF and the National Population Commission (NPC) noted that many parents are unaware that registration is free. The government is now pivoting toward digital registration tools to bridge this gap and integrate birth records with the National Identification Number (NIN) system.

South Africa’s official unemployment rate surged to 33.6% in the second quarter of 2026, reaching its highest level in four years. According to Statistics South Africa, the number of unemployed individuals rose to 8.5 million as total employment declined by 16,000. The worsening labor market occurs amidst a backdrop of rising interest rates and increasing tension surrounding foreign-owned businesses, which analysts suggest may further stifle investment and local job creation.

UNICEF has warned that 3.5 million children across Nigeria’s South-West region and Edo State currently lack birth certificates, leaving them invisible to government systems. Celine Lafoucriere, Chief of the UNICEF Lagos field office, noted that this lack of legal identity denies children access to essential social services, healthcare, education, and property inheritance rights. The disclosure was made during a media dialogue organized with the National Population Commission to advocate for improved birth registration processes.

Tony Elumelu will step down as Group Chairman of United Bank for Africa (UBA) on August 21, 2026, following the completion of his 12-year tenure. Emmanuel N. Nnorom, a long-serving industry veteran, will succeed him as Group Chairman.

Elumelu is transitioning his primary focus toward the industrial and energy sectors. He is set to assume the role of Chairman at Seplat Energy on January 1, 2027, while continuing to lead the Transcorp Group and his investment firm, Heirs Holdings, with a strategic emphasis on bridging Africa’s energy and power infrastructure gaps.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a warning regarding fraudulent, AI-generated employment letters being circulated in its name. The regulator clarified that it is not currently conducting any recruitment exercises and advised the public to be cautious of criminal elements soliciting money under the guise of job placements. The commission emphasized that all future recruitment will be conducted transparently in accordance with government regulations.

Aviation unions have disrupted flight operations across Nigeria, including at Lagos and Abuja airports, as part of an industrial action over the non-remittance of the 5% Ticket Sales Charge (TSC) by some airlines. The strike, led by unions including the NLC, ATSSSAN, and TUC, resulted in the picketing of airline terminals, most notably affecting Air Peace. While some terminals have begun reopening to passengers, the strike has caused widespread flight cancellations and travel delays. The Nigeria Civil Aviation Authority (NCAA) and the Federal Airports Authority of Nigeria (FAAN) are coordinating with stakeholders to minimize disruptions and maintain security. The NCAA has appealed to the unions to suspend the action pending the return of the Minister of Aviation and Aerospace Development, Festus Keyamo, to continue mediation.