Rental prices for two-bedroom apartments across Lagos Island have experienced a sharp upward trajectory between 2022 and 2026, according to the Lagos Island Residential Market Report by Lagos Realty.

Data shows that average annual rents in Ikate have surged by 183% to N8.5 million, while Lekki Phase 1 saw a 150% increase to N10 million. Victoria Island and Ikoyi remain the most expensive submarkets, with average rents reaching N15 million and N17.25 million, respectively. Rising costs are attributed to sustained demand from corporate occupiers and high-income households, compounded by limited housing supply and land scarcity.

The Federal Mortgage Bank of Nigeria (FMBN) has launched the National Housing Fund Diaspora Mortgage Loan, allowing Nigerians living abroad to access up to N100 million in mortgage financing. The product, unveiled in London, features a 9% annual interest rate and a repayment tenor of up to 10 years. Eligible Nigerians can complete registration and KYC requirements digitally, facilitating remote contributions and home acquisition to boost housing investment and FX inflows. The initiative aligns with the Federal Government’s Renewed Hope Housing Agenda.

The Kwara State Government has held a pre-bid conference for the construction of its Special Agro-Industrial Processing Zones (SAPZ) Agricultural Transformation Centres. The initiative aims to enhance agricultural productivity, improve post-harvest handling, and strengthen value chains across four local government areas. State project officials reaffirmed their commitment to a transparent procurement process, noting that the centres will serve as critical raw material hubs to support the broader agro-hub in Malete. Bidding for the infrastructure projects closes on August 18, 2026.

The Nigerian Ambassador to the United States, Lateef Kayode Are, has launched a new platform to facilitate high-level dialogues on trade, investment, and foreign policy. This initiative aims to bridge the gap between the US government, the private sector, and global stakeholders. Key discussions will take place during major gatherings, including the United Nations General Assembly, as well as the IMF and World Bank meetings in Washington D.C. The platform will focus on themes such as economic diplomacy, energy, technology, and emerging markets.

Former presidential candidate Atiku Abubakar has criticized the current administration’s economic policies, citing the latest Central Bank of Nigeria Household Expectations Survey as evidence of plummeting purchasing power. The survey shows a significant decline in willingness and ability among Nigerians to purchase consumer durables, vehicles, and real estate. Abubakar argued that rising costs for essentials like food and transport are effectively pricing citizens out of basic needs, warning that deteriorating household consumption will stifle business growth and employment.

Bright Anyanwu, the Chief Compliance Officer at YellowCard Financial Nigeria, has been shortlisted for the 2026 PICCASO Awards Europe in the Compliance Champion of the Year category. This nomination recognizes his efforts in strengthening compliance standards and financial crime prevention within the digital finance sector. Anyanwu, who previously served with the EFCC and KPMG, is noted for his work in navigating complex regulatory environments across African markets. The PICCASO Awards highlight excellence in privacy, security, and governance, marking a notable recognition for an African professional on a global stage.

The Sasakawa Africa Association (SAA) has called for a strategic shift from merely generating agricultural technologies to building integrated ecosystems that allow proven innovations to reach smallholder farmers at scale. During the 9th Africa Agricultural Science Week in Abuja, industry experts and policymakers highlighted the need for coordinated investments in agricultural extension, market access, and sustainable financing to drive food security across the continent. Citing successful models like the Kano State Agropastoral Development Project, SAA emphasized that transforming African agriculture requires moving beyond pilot projects to creating profitable, farmer-centered value chains.

The Nigeria Conversation, a trade and investment forum, is scheduled for September 3, 2026, in London. The event aims to foster strategic partnerships between Nigerian government officials, business leaders, and international investors to drive industrial development and economic growth. Organisers describe the forum as an action-oriented platform designed to move beyond policy discussions into tangible investment commitments across sectors including manufacturing, agriculture, and infrastructure.

Two years after the #EndBadGovernance protests, observers note a decline in public demonstrations despite worsening economic conditions and security challenges. Critics attribute the current apathy to a perceived lack of government responsiveness, fear of state-sponsored intimidation, and the perception that previous protests were politically motivated rather than citizen-led. Experts suggest that the focus is shifting toward digital advocacy and the use of crowd-sourced fact-checking tools to improve the quality of political discourse ahead of the 2027 general elections.

The Federal Government of Nigeria has approved a significant pay increase for military personnel, effective September 1, 2026. This adjustment aims to bolster morale and enhance the fight against escalating insecurity across the country. The new structure grants an 80 percent raise to junior ranks, 50 percent to middle ranks, and 30 percent to senior officers. This move will increase the annual military wage bill by N264 billion, bringing the total to N924 billion. While stakeholders welcome the gesture as a necessary welfare boost, economists warn of potential inflationary pressure and the fiscal challenge of funding the increase.

Minister of Power Joseph Tegbe has officially inaugurated the new Governing Board of the Rural Electrification Agency (REA), chaired by Ayodele Fayose. Tasked with steering the agency’s strategic direction, the board is mandated to prioritize people-centered leadership to expand electricity access across rural schools, markets, and farms. Minister Tegbe emphasized the need for strict governance and accountability while distinguishing between the board’s oversight role and the management’s daily operational duties. Chairman Fayose pledged the board’s commitment to supporting the Ministry’s efforts to resolve Nigeria’s power sector challenges.

Nigeria’s current system for funding its major revenue-generating agencies is raising significant concerns over efficiency and fiscal responsibility. The Nigerian Revenue Service, the Nigerian Customs Service, and the Nigerian Upstream Petroleum Regulatory Commission are permitted to retain between 4% and 7% of the revenues they collect to fund their operations. This model, which ties operating budgets directly to collection volume, is significantly higher than the global average of roughly 1%, and has resulted in the agencies retaining vast sums—reaching N78.3 billion in January 2024 alone. Experts are urging the National Assembly to review these statutory ratios, suggesting that cutting them by half would release substantial funds for national development while still ensuring agencies remain well-funded. The proposed reform advocates for moving toward a needs-based, rather than volume-based, budgeting approach to improve accountability and reduce administrative costs.

Seplat Energy CEO, Effiong Okon, has identified asset integrity, operational modernization, and life extension as critical pillars for Nigerian independent oil and gas firms to sustain value. Speaking at the 49th Nigeria Annual International Conference and Exhibition, Okon emphasized that operators must maintain equipment at a 95 percent performance rate and monetize gas production to reduce costs and deferments. He further highlighted Seplat’s strategic focus on domestic gas development, noting that the firm is actively working to unlock 12 trillion cubic feet of gas reserves to boost shareholder returns and enhance energy resilience.

Enugu State has entered into a long-term operational lease with the Nigerian Communications Commission (NCC) to transform the NCC Digital Industrial Park and the Digital Bridge Institute into major tech hubs. The Industrial Park will become the Enugu Talent City, featuring a 2,000-seat Knowledge-Based Outsourcing Centre developed with Terragon to provide global services in AI, software engineering, and data analytics. Meanwhile, the Digital Bridge Institute will be repurposed as the Enugu AI Institute. This private-sector-led initiative aims to foster a knowledge-driven economy and attract investment into the region.

The University of Lagos Business School Executive MBA class recently hosted a symposium focused on sustainable wealth creation and institutional growth amidst Nigeria’s macroeconomic volatility. Industry leaders, including Johnson Chukwu of Cowrie Asset Management and Kola Adesina of Sahara Group, emphasized that lasting success requires moving beyond founder-dependent models toward robust corporate governance and institutionalized intellectual property. The speakers warned against accidental entrepreneurship, advising professionals to focus on core competencies and long-term strategic planning rather than short-term gains. Additionally, the event highlighted the necessity of technological adaptability and integrity, noting that digital literacy and character are critical for navigating the evolving economic landscape.

The Chartered Institute of Personnel Management of Nigeria (CIPM) has advised business leaders to shift focus from macroeconomic challenges to internal structural improvements to drive productivity. During the 2026 Corporate Members Forum, CIPM President Ahmed Ladan Gobir emphasized that uninspired leadership, rather than inflation or exchange rate volatility, poses the greatest threat to organizational performance. Speakers, including keynote presenter Bisi Aina, argued that productivity is a system design issue. Organizations were urged to simplify work processes, embrace digitalization, and transition from traditional attendance-based performance metrics to outcome-oriented frameworks that prioritize value creation and employee wellbeing.

Women in Successful Careers (WISCAR) has graduated 71 mentees from its flagship WIN-with-WISCAR Mentoring Programme. The cohort includes 20 early-career and 51 mid-career professionals from various sectors, including banking, technology, and oil and gas. Since its inception in 2008, the non-profit has trained over 1,400 women to strengthen female leadership capacity and foster professional development across Nigeria.

Neveah Limited, a commodities export and recycling firm, has attained three international certifications: ISO 9001 for Quality Management, ISO 14001 for Environmental Management, and ISO 45001 for Occupational Health and Safety. These certifications aim to validate the company’s commitment to operational excellence, sustainable manufacturing, and global safety standards as it scales its recycling and metals processing operations.

US President Donald Trump has issued new executive orders aimed at restricting birthright citizenship and curbing birth tourism. The latest directives define specific categories of children—including those of foreign government officials and those involved in fraudulent birth arrangements—who will be excluded from automatic citizenship. This move follows a June 30 Supreme Court ruling that upheld birthright citizenship for most children born on US soil. The administration claims these measures align with existing legal exceptions, though they are expected to face significant legal challenges. The order also directs federal agencies to intensify enforcement against foreign nationals traveling to the US primarily to secure citizenship for their children.