The National Insurance Commission (NAICOM) has confirmed that 43 insurance and reinsurance companies have successfully met the new minimum capital requirements following the conclusion of the 12-month recapitalisation exercise on July 31, 2026. This mandatory exercise was initiated under the Nigerian Insurance Industry Reform Act of 2025. While 43 firms have been verified, NAICOM noted that an additional eight companies, which submitted compliance evidence near the deadline, are currently undergoing final regulatory review, with conclusions expected within 14 days. The commission stated that this development is a major milestone designed to bolster the financial resilience and underwriting capacity of the Nigerian insurance industry.

African startups raised $102 million in July 2026, the lowest monthly total since March 2025. Data from Africa: The Big Deal indicates that debt financing dominated the month, accounting for 74% or $75 million of the total raised. Equity investment reached a seven-year low of $25 million, highlighting a significant retreat by investors. Year-to-date funding across the continent reached $1.46 billion, a 27% decline compared to the same period in 2025. The number of active investors has also fallen by 22%, reflecting a more disciplined and selective investment environment.

Wema Bank reported a 53.65% increase in pretax profit to N154.56 billion for the first half of 2026, driven by higher asset yields and improved operating efficiency. Gross earnings rose 36.90% to N415.09 billion, while net interest income grew 51.26% to N195.45 billion. The bank successfully lowered its cost-to-income ratio to 42.13% and expanded its loan book by 21.73% to N2.12 trillion, even amidst a restrictive monetary policy environment. Equity grew to N700.45 billion, comfortably exceeding regulatory capital requirements.

BUA Foods Plc has reported a 12% increase in profit after tax to N292.27 billion for the half-year ended June 30, 2026. Despite a 16.15% decline in revenue to N765.12 billion, the firm achieved significant margin expansion, with net profit margins rising to 38.2% from 28.5%. Management attributed the performance to disciplined cost management and operational efficiency, even as it continues a major expansion programme aimed at scaling production capacity in wheat milling, edible oils, and noodles. The company’s total equity grew by 41% to N1.01 trillion, reflecting a strong balance sheet supporting its long-term growth strategy.

First HoldCo Plc has reached a historic valuation of over N6 trillion, becoming the first Nigerian banking group to achieve this milestone. This follows a significant rally in its share price, which has gained over 184% year-to-date. In an exclusive interview, Chairman Femi Otedola confirmed his intent to acquire a controlling stake of over 51% in the institution, citing his commitment to long-term restructuring and value creation. Otedola, who currently holds a 25.87% stake, revealed he has invested over N600 billion of his personal wealth into the bank, viewing his involvement as a generational commitment rather than a short-term turnaround play.

The Central Bank of Nigeria, acting for the Debt Management Office, has announced a N700 billion Treasury Bills auction scheduled for August 5, 2026. The issuance includes N100 billion in 91-day bills, N100 billion in 182-day bills, and N500 billion in 364-day bills. The auction will utilize the Dutch auction system via the S4 platform, with results expected the same day. This move follows a period of aggressive liquidity management by the CBN throughout July, as investors continue to show strong demand for longer-dated government securities.

The Debt Management Office has launched the August 2026 Federal Government of Nigeria Savings Bond offer, providing investors with annual returns of up to 14.96%. The offer features a two-year bond at 13.963% and a three-year bond at 14.963%. Subscriptions are open from August 3 to August 7, with a minimum investment requirement of N5,000. Interest payments will be made quarterly, with the principal repaid in full upon maturity. The bonds are listed on the Nigerian Exchange and offer tax-exempt benefits.

Beta Glass Plc has reported its unaudited financial results for the six months ended June 30, 2026. While the company saw a 13.8% revenue growth in the second quarter to N42.18 billion, half-year profit after tax declined by 13.6% to N16.16 billion compared to the same period in 2025.

Management attributed the mixed performance to a high comparative base from the previous year, alongside rising inbound logistics and input costs. Despite margin pressure, the firm maintains that it is trading ahead of internal targets and expects to recover margins in the second half through a dynamic pricing strategy. Earnings per share for the period stood at N26.93.

The Nigeria Revenue Service (NRS) has released comprehensive guidelines for the taxation of virtual assets, mandating that all Virtual Asset Service Providers (VASPs) and peer-to-peer (P2P) platforms require users to provide a Tax Identification Number (TIN) before account activation. The new framework subjects medium and large companies earning profits from digital assets to a 30% corporate income tax. Operators failing to comply face an initial penalty of N10 million, followed by monthly fines of N1 million. While trading and other disposals are taxable, mere holding and internal wallet transfers remain exempt. These measures align with the 2026 Presidential Executive Order on Virtual Assets, aiming to integrate digital asset activities into the formal tax net.

The Nigeria Revenue Service (NRS) has mandated that all Virtual Asset Service Providers (VASPs) and peer-to-peer (P2P) escrow operators require a valid Tax Identification Number (Tax ID) for new account activations. This directive is part of the newly released Guidelines on the Taxation of Virtual Assets, which seeks to formalize tax compliance within Nigeria’s digital asset sector. Additionally, the guidelines stipulate that medium and large companies will be subject to a 30% corporate income tax on profits derived from virtual asset transactions. The move aligns with the broader Presidential Executive Order on Virtual Assets Coordination issued earlier this year, aiming to bring crypto-related activities under a unified regulatory and tax framework.

Nigeria’s private sector continued to expand in July, marking six consecutive months of growth. The Stanbic IBTC Bank Purchasing Managers’ Index (PMI) registered 52.5, down from 53.4 in June, indicating solid but slightly moderated business conditions. Driven by strong customer demand, firms increased new orders and expanded employment. Crucially, inflationary pressures eased, with purchase cost inflation hitting a five-month low, offering a reprieve for businesses still grappling with elevated fuel and raw material costs. Despite logistical challenges, business confidence remains positive for the year ahead.

The Nigerian government is reviving its "Super Grid" electricity project, aiming to modernize transmission infrastructure and stabilize power supply. Despite the ambitious goal to link industrial corridors, the initiative faces significant hurdles, including a lack of clear funding and unresolved questions surrounding a previously announced $2 billion loan from China’s Export-Import Bank. New Minister of Power Joseph Tegbe has signaled a pivot toward a technical audit and a "Grid Stabilisation Programme" to identify network weaknesses before proceeding. Analysts and industry experts remain skeptical, noting that previous iterations of the grid design have stalled for years due to inconsistent policy and funding gaps. Currently, the power sector continues to struggle with chronic liquidity issues and legacy debts, despite government efforts to settle arrears. The grid’s fragility stands in contrast to localized success stories like Geometric Power’s independent network in Aba, which has maintained steady supply while the national system suffers frequent collapses.

Ghana’s cedi has become Africa’s weakest-performing currency in 2026, depreciating by 11.6 percent against the US dollar as of July 28. This marks a sharp reversal from 2025, when the cedi was the continent’s top performer. Analysts attribute the current decline to a confluence of factors, including elevated global oil prices, increased corporate demand for foreign exchange for early seasonal imports, and significant external debt repayments. Despite these pressures, experts suggest the depreciation is a market correction rather than a sign of structural economic failure, noting that Ghana’s macroeconomic fundamentals remain stronger than during previous crises. The Bank of Ghana has maintained a cautious intervention strategy to balance currency support with its goal of rebuilding international reserves.

Nigeria’s goal to achieve a 1 trillion dollar economy by 2030 faces significant structural hurdles, with analysis suggesting the milestone may not be reached until 2040 at the current 4 percent growth rate. To meet the ambitious target sooner, the nation requires sustained annual growth of 10 to 12 percent, bolstered by massive infrastructure investment, energy reform, and a shift toward high-productivity sectors like manufacturing and agriculture. While improved corporate governance is vital for investor confidence, experts emphasize that policy must also focus on removing structural barriers to ensure private capital drives long-term, scalable industrial expansion rather than short-term gains.

Nigeria’s insurance sector has concluded its year-long recapitalization exercise, with 43 insurance and reinsurance companies successfully meeting new minimum capital requirements under the Nigerian Insurance Industry Reform Act 2025. This process has injected over N300 billion into the sector, aiming to bolster financial resilience and underwriting capacity. The National Insurance Commission (NAICOM) confirmed that eight additional firms are currently undergoing final verification, with decisions expected within 14 days. This reform is a key component of the federal government’s broader strategy to support a US$1 trillion economy by 2030.

Rising climate risks and recurring building collapses in Lagos are increasingly threatening Nigeria’s real estate market, forcing a shift in how properties are valued and insured. Flooding and structural failures are no longer viewed as isolated seasonal events but as critical investment risks that disrupt businesses, diminish property values, and discourage institutional lending. Experts warn that for the property market to remain competitive, urban planning, strict regulatory enforcement, and climate-resilient construction must become standard, rather than reactive measures. Long-term sustainability now depends on integrating environmental risk assessments into investment decisions.

The Imo State government is implementing a multi-sectoral transformation strategy aimed at positioning the state as a logistics and technology hub in the South-East. Key projects include the expansion of the Sam Mbakwe International Cargo Airport to accommodate wide-bodied aircraft, the reconstruction of critical commercial road corridors, and the development of the Imo Digital City. The Digital City initiative focuses on human capital development, offering training in artificial intelligence, robotics, and drone technology, alongside a local assembly plant for digital devices. The state credits these developments to increased fiscal allocations and a focus on public-private partnerships.

Prince Abubakar Audu University (PAAU) in Anyigba has introduced a solar-powered tricycle shuttle service to enhance student and staff mobility. The initiative aims to provide affordable and environmentally friendly transportation within the campus while improving security. The project, inaugurated by Pro-Chancellor Muhammed Suleiman Audu and Vice-Chancellor Salisu Ogbo Usman, is supported by local stakeholders and the Tricycle Operators Association of Nigeria.

Industry stakeholders are calling on the Federal Government to prioritize housing reform, framing the sector as a critical engine for economic growth and poverty reduction rather than a mere social program. Ahead of the Africa International Housing Show, experts urged the administration to establish a presidential council on affordable housing and streamline land administration to tackle the nation’s massive housing deficit. The proposal emphasizes job creation, industrialization, and the integration of informal workers into the formal housing market.