The Nigeria Customs Service has concluded its nationwide recruitment exercise, hiring 3,852 candidates out of 573,680 applicants. This represents an acceptance rate of approximately 0.7 percent. The recruitment, which spanned the Superintendent, Inspector, and Customs Assistant cadres, follows a selection process that included computer-based testing and final screenings. While the federal government had approved 3,927 vacancies, the Service did not provide details regarding the 75 remaining unfilled positions.

The West African Examinations Council (WAEC) has released the 2026 computer-based West African Senior School Certificate Examination (CB-WASSCE) results for school candidates. Out of over 1.95 million candidates who sat the exam, 61.54% achieved credit passes in at least five subjects, including English Language and Mathematics. Additionally, WAEC withheld the results of 167,486 candidates, or 8.59% of participants, due to reported examination malpractice. This reflects a 1.11% improvement in integrity compared to the 9.7% malpractice rate recorded in 2025. Investigations into these cases are ongoing. Candidates can now access their results via the official WAEC result portal.

IHS Holding Limited shareholders have voted to approve MTN Group’s proposed acquisition of the company, marking a significant milestone in the transaction. The resolution passed at an Extraordinary General Meeting on August 4, 2026, fulfills a key condition for the deal. While the acquisition moves closer to completion, it remains subject to ongoing regulatory approvals, including scrutiny in Nigeria, where authorities are evaluating the impact on national telecoms infrastructure. The deal represents a strategic shift for MTN, aiming to bring tower assets back under direct control to support its Ambition 2030 growth strategy.

The World Food Programme (WFP) and the Food and Agriculture Organisation (FAO) have warned that the current El Niño weather pattern could drive nearly 6 million more people into acute food insecurity across West and Central Africa. Driven by erratic rainfall, floods, and extreme heat, the humanitarian impact is expected to peak between September and December 2026, with effects likely lingering throughout 2027. The agencies warn that vulnerable communities, particularly those already battling conflict and economic instability, are at the highest risk. The WFP is calling for urgent early funding to expand anticipatory action plans, aiming to protect livelihoods and mitigate the potential for widespread crop failure across the region.

Nigerian fintech startup OneDosh has integrated Stripe to launch an instant wallet funding feature. This development allows eligible users to fund their USD wallets directly via debit cards, significantly reducing transaction friction and eliminating the delays previously associated with cross-border digital finance. The platform aims to streamline access to global financial services, including international transfers and virtual card payments, for freelancers and businesses.

Nigeria faces a massive infrastructure challenge to meet its 2030 digital economy goals through the 1.6 billion dollar Project BRIDGE initiative. To achieve its target of deploying 90,000 kilometres of new fibre-optic cable, the project requires an unprecedented construction pace of up to 90 kilometres daily. While financing is secured from international development partners, the government faces significant execution risks, including the protection of infrastructure against rampant vandalism, regulatory hurdles, and potential macroeconomic instability. The project aims to reduce wholesale bandwidth costs by 17 percent and expand broadband access to 150 million users by 2030.

Nigeria’s telecommunications sector is undergoing a significant transformation as operators shift focus beyond standard connectivity toward digital infrastructure. With active mobile subscriptions exceeding 189 million, firms are increasingly adopting emerging technologies to overcome challenges like poor rural coverage and high operational costs. Key trends include the integration of satellite-to-phone connectivity to bridge remote gaps, the adoption of Open RAN to reduce hardware expenses, and the use of AI for network management and predictive maintenance. These shifts are expected to redefine the industry, as providers transition into broader digital service providers to sustain growth.

YourDietBoy Ltd., through its CWR Academy, is launching the ‘Consulting With Results’ initiative to address the professional skills gap among Nigerian nutritionists. On August 15, the firm will host the maiden ‘Consulting With Results Experience 1.0’ in Ikeja, Lagos, to equip over 300 practitioners with practical business, leadership, and consulting skills. The event also marks the release of a new book aimed at helping nutrition professionals transition from academic theory to sustainable career practice.

Microsoft warns that Nigeria’s digital economy faces a critical trust crisis, with one in five internet users having lost money or personal data to scams. Data from the Global Anti-Scam Alliance indicates that 84 percent of Nigerian adults encountered a scam in the past year. While digital fraud incidents and total losses have decreased recently due to improved authentication measures like the Bank Verification Number, experts warn that evolving AI-driven threats and identity-based attacks necessitate a shift toward treating cybersecurity as a strategic business priority rather than a mere IT obligation. Failure to bolster consumer confidence threatens the growth of Nigeria’s broader digital ecosystem.

Cooking gas prices in Nigeria have dropped by approximately 39 percent, with a kilogram now retailing for about N1,400, down from highs of N2,000 in June. This decline follows the Federal Government’s decision to accelerate the issuance of import permits to LPG marketers, effectively bridging a critical domestic supply gap. According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, daily LPG imports surged from 0.1 kilotonnes in May to 1.5 kilotonnes in June, compensating for a 10 percent decline in local production. The regulator aims to address a projected third-quarter supply deficit of 165,000 metric tonnes through continued monitoring and expedited approvals.

The Central Bank of Nigeria has released its 2025 audited financial statements, revealing a significant shift toward orthodox monetary policy under Governor Olayemi Cardoso. Total assets grew 18.1 percent to N138.66 trillion, while the bank reduced its direct financing of the federal government. Gross external reserves improved significantly to $45.75 billion, providing nearly nine months of import cover. Despite a decline in the bank’s net foreign asset position due to rising external liabilities, the report highlights progress in curbing inflation to 15.15 percent and improving foreign exchange market stability. The CBN recorded a group profit of N136.44 billion for the year.

The Nigeria Revenue Service (NRS) has introduced new tax guidelines for virtual assets, mandating that all users of regulated cryptocurrency platforms provide a Tax Identification Number (TIN) for account activation. This policy aims to eliminate anonymous peer-to-peer trading and bring the nation’s robust digital asset market under formal tax oversight. Under the framework, exchanges are required to collect TINs, maintain transaction records, and remit a 1.5 percent stamp duty on fiat-to-token transactions. The regulations apply to a wide range of blockchain activities, including trading, mining, and staking, with gains subject to various tax obligations. This move represents the first major implementation of the July executive order on virtual asset regulation and the Nigeria Tax Act 2025.

Nigeria is facing intensifying competition in the European oil market as increased output from Brazil and Guyana puts pressure on its crude exports. While Nigerian crude, such as Forcados, continues to command a higher refinery gate value due to its superior quality and yield, European buyers are increasingly opting for cheaper Latin American alternatives to manage tight profit margins. Analysts suggest that Nigeria’s crude may transition from being a reliable base-load supply to an arbitrage barrel, forced to compete primarily on price. Industry experts are now advocating for a more strategic approach, suggesting that Nigeria should consider redirecting more crude to domestic refineries to capture greater value by exporting refined products rather than just raw crude.

The newly appointed Chief Medical Director of the Federal Teaching Hospital, Lokoja, Abdulrahman Shehu, has launched a comprehensive reform agenda to improve service delivery at the facility. His administration is prioritising staff welfare, infrastructure upgrades, and patient-centered care to reposition the hospital as a center of excellence. Shehu emphasized that a motivated workforce and transparent communication through regular staff engagements are central to his strategy for enhancing operational efficiency.

Emirates NBD has entered into an agreement to acquire HSBC’s retail banking operations in Egypt. The deal includes the transfer of branches, ATM networks, retail customer accounts, and associated employees to the Dubai-based lender’s subsidiary, Emirates NBD Egypt. While the acquisition price remains undisclosed, HSBC anticipates a pre-tax gain of approximately $300 million from the divestment. HSBC will retain its wholesale banking business in the country as it continues a broader global restructuring strategy. The transaction is expected to close in the second half of 2027, pending regulatory approvals.

Stakeholders in Ebonyi State have pledged their support for the proposed Abakaliki cement factory, welcoming the project as a catalyst for industrialization and job creation. Leaders from the four host communities—Umuhuali, Nkalaha, Nkalagu, and Amezu—committed to ensuring a secure and investment-friendly environment for the development. The project, facilitated by Governor Francis Nwifuru in partnership with Chinese contractors, is expected to enhance local manufacturing capacity and boost state revenue.

The Federal Capital Territory Administration has announced plans to redevelop the abandoned Life Camp recreational garden in Abuja into a modern leisure and sporting facility. Minister Nyesom Wike has directed the Federal Capital Development Administration to treat the project as an emergency, citing the need to expand green spaces and enhance social amenities across the capital. This initiative follows the successful remodelling of the Abuja City Gate and is part of a broader urban renewal programme for the Federal Capital Territory.

Zimbabwe has overtaken Nigeria as Africa’s top-performing stock market, recording a year-to-date return of 68.5% in US dollar terms as of July 31, compared to Nigeria’s 66.9%. This shift reflects improved macroeconomic stabilization in Zimbabwe. Meanwhile, the broader African banking sector is seeing increased activity as Bank of America appoints Simbah Mutasa to lead its African franchise and Emirates NBD expands in Egypt by acquiring HSBC’s local retail business. In other regional developments, mining billionaire Patrice Motsepe has seen his net worth drop by nearly $1 billion due to falling South African mining shares, while Kenya and Zambia both reported 6.5% inflation for July.

Banking stocks on the Nigerian Exchange are recording significant gains, with the Banking Index posting a 68 percent year-to-date return as of August 3, 2026. Heavyweight lenders including First HoldCo, Zenith Bank, GTCO, and Jaiz Bank are leading the rally, driven by investor confidence in strong earnings, the banking recapitalisation programme, and attractive dividend policies. First HoldCo, in particular, has seen a 180 percent surge this year, supported by high trading liquidity and a new commitment to distribute at least 60 percent of profits as dividends. While tier-one banks dominate, mid-tier lenders such as Wema Bank and Fidelity Bank are also seeing increased investor interest.