The Nigerian Breweries-Felix Ohiwerei Education Trust Fund has awarded a secondary school scholarship to Ayomide Avose. Avose, who gained national attention as a keynote speaker at the 2025 Maltina Teacher of the Year event, will receive full funding for his secondary education. The initiative, implemented in partnership with the Slum2School Africa foundation, aims to support talented students from underserved backgrounds.

MeCure Industries Plc has announced a transition to a single-CEO leadership structure, appointing Anderline Ndidi Dukor as the new chief executive officer, effective August 1, 2026. This strategic move replaces the company’s previous co-CEO model, aiming to streamline decision-making and accelerate operational growth. Additionally, Arjun Udani has been appointed as Executive Director of Operations and Finance to support the company’s expansion and financial discipline. The pharmaceutical manufacturer, currently valued at approximately N224.8 billion on the Nigerian Exchange, believes these changes will enhance governance and long-term shareholder value.

EHA Impact Ventures (EIV) has announced a $1.25 million reinvestment in EHA Clinics, a Nigerian primary healthcare provider. This marks the third investment by the non-profit impact firm into the women-led clinic network. The capital is designated for expanding access to healthcare services in underserved regions, boosting job creation, and strengthening maternal and antenatal care programs. EHA Clinics aims to use these funds to deepen its community outreach and build upon its existing network, which currently reaches over 20,000 additional people annually.

Sterling Financial Holdings Company Plc outperformed the broader Nigerian Exchange (NGX) on Thursday, with its shares climbing 7 percent despite a wider market downturn. Investors responded positively to the group’s half-year financial results, which showed a profit after tax of N50.3 billion for the period ended June 30, 2026. Gross earnings rose 31.5 percent to N279.6 billion, fueled by robust performance in both interest and non-interest income streams. The strong showing follows the company’s recent N96.6 billion capital raise, which bolstered its balance sheet ahead of the Central Bank of Nigeria’s recapitalization deadline. Despite a 0.7 percent decline in the NGX All-Share Index, Sterling Financial saw significant accumulation, with 36.01 million shares traded.

UK Home Office data for 2025 reveals that African applicants faced the highest visitor visa refusal rate globally, with 33.4 percent of applications denied. Out of 521,431 decisions, 173,611 were rejected, resulting in an estimated 21.6 million pounds lost in non-refundable fees. This continues a long-term trend where Africa has recorded the lowest likelihood of securing UK visitor visas in 18 of the past 21 years. While specific reasons for refusals remain undisclosed, the disparity underscores significant administrative and financial challenges for travelers from the region.

Accion Microfinance Bank held its South-South Regional Customer Forum in Port Harcourt, Rivers State, as part of its 20th-anniversary celebrations. The event served as a platform for management and the board to engage directly with customers regarding service delivery, digital banking, and loan accessibility. The bank emphasized that customer feedback gathered during the session will directly influence its service improvements and strategic decision-making to boost financial inclusion across Nigeria.

Surging vehicle prices in Nigeria, driven by inflation and foreign exchange volatility, are forcing automotive dealers to abandon physical showrooms in favor of digital marketplaces. According to Jiji, the average price of imported used vehicles has climbed to N45 million, nearly doubling over the past two years, while entry-level Tokunbo cars now average N30 million. This shift allows dealers to mitigate high inventory and overhead costs while enabling consumers to access more competitive pricing through direct negotiation. As the cost of maintaining physical car lots becomes unsustainable, digital platforms are increasingly becoming the country’s primary vehicle trading hubs.

May & Baker Nigeria reported a 51 percent increase in its profit before tax for the first half of 2026, reaching N4.85 billion compared to N3.21 billion in the same period last year. The pharmaceutical firm’s growth was primarily driven by effective cost management, notably a 16 percent reduction in sales and distribution expenses, and a 101 percent surge in interest income. The company also significantly strengthened its balance sheet by reducing total liabilities by 22 percent and improving its cash position to N8.19 billion.

Minister of Power Joseph Tegbe has dismissed market speculation, confirming that the Federal Government has no current plans to increase electricity tariffs. Instead, the administration is prioritizing service improvements, grid stability, and the Presidential Metering Initiative to address sector financial sustainability. Tegbe emphasized that the government aims to ensure consumers only pay for metered consumption, effectively sidelining tariff hikes as a primary strategy for balancing the power sector’s finances.

Leadway Assurance has issued an urgent advisory to Nigerian pig farmers, urging them to bolster biosecurity protocols following recent outbreaks of the highly contagious African Swine Fever. As the viral disease currently lacks an approved vaccine or treatment, the insurer emphasizes that proactive risk management—such as restricting farm access, quarantine measures, and rigorous disinfection—is vital to prevent total herd loss and sustain business continuity. The company is backing this initiative with educational campaigns to mitigate agricultural sector risks.

Microsoft shares surged by over 15% on Thursday, adding nearly $450 billion to its market capitalization—the largest single-day gain for any company in history. The rally followed robust quarterly results that surpassed analyst expectations, driven primarily by strong performance in its Azure cloud and AI divisions. Investors reacted positively to projections of 45% growth in Azure, signaling that the company’s massive infrastructure investments are finally yielding tangible revenue. This rebound eases prior market concerns regarding the sustainability of the firm’s AI spending strategy.

MTN Nigeria reported strong financial results for the first half of 2026, with profit before tax surging 75.4% to N1.09 trillion. Driven by robust data demand and improved operational efficiency, revenue grew 25.9% to N2.99 trillion. Profit after tax rose 70.6% to N707.5 billion, while the Board of Directors approved an interim dividend of N26 per share. The company’s subscriber base reached 92.2 million, supported by ongoing infrastructure investments and effective cost management.

Despite the Nigerian Exchange (NGX) delivering the world’s highest equity returns with a 66 percent year-to-date surge, foreign investor participation has dropped to 12 percent of total trading, down from 27 percent last year. International investors are prioritizing high-yield government securities, which offer nearly 20 percent returns, over equities. This shift is driven by concerns regarding the new T+1 settlement cycle, which requires naira pre-funding, and Nigeria’s failed market classification upgrade by FTSE Russell. Consequently, domestic investors now account for 88 percent of market activity, sustaining the rally through demand for banking and telecommunications stocks. Analysts warn that long-term market depth requires improved settlement infrastructure and regulatory certainty to attract foreign portfolio flows back.

The Coalition for Epidemic Preparedness Innovations (CEPI) has committed $8.5 million to accelerate the production of a vaccine candidate for the Bundibugyo strain of Ebola. This funding supports a collaboration with Hilleman Laboratories to manufacture doses for clinical trials. The initiative addresses the current outbreak in the Democratic Republic of the Congo, now the second-deadliest in history, as there are currently no approved vaccines or treatments for this specific strain.

The 2026 African Youth Survey reveals that 43 percent of young Nigerians identify the rising cost of living as their primary concern over the last five years. The study, conducted by the Ichikowitz Family Foundation, highlights a strong demand among Nigerian youth for job creation, democratic accountability, and increased political representation. While economic pressure persists, respondents show a preference for African-style democratic models focused on stability and tangible development.

A new report by Bridgforte titled ‘Trust Architecture in Platform-Led Finance’ highlights a critical confidence gap in Nigeria’s maturing digital financial ecosystem. Despite processing over N1.07 quadrillion in annual electronic transactions, the sector faces systemic challenges including frequent transaction failures, inadequate dispute resolution, and fragmented identity systems. The report argues that trust should now be viewed as essential infrastructure rather than an abstract concept, necessitating a shift toward ecosystem-wide regulation, collaborative fraud intelligence, and robust governance for AI implementation to sustain long-term consumer confidence.

Nigeria’s domestic gas supply performance reached 65 percent of target levels by June 2026, with an average daily delivery of 2.05 billion cubic feet against a 3.16 billion allocation. To bridge this gap, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is introducing a Gas Swap Framework. This mechanism allows operators with stranded gas to meet their supply obligations by leveraging the infrastructure of other producers, aiming to bolster energy security and improve gas-to-power delivery.

The British Pound is trading at N1,834 against the Naira, reflecting sustained volatility in Nigeria’s foreign exchange market. The currency pair has fluctuated between N1,813 and N1,862 throughout July, driven by consistent demand for Pounds to cover education costs and medical tourism. While the Central Bank of Nigeria maintains high benchmark rates to curb inflation, currency traders are monitoring month-end liquidity and interventions from authorized dealers to gauge future price direction. Globally, the Pound remains under pressure against the US Dollar as rising crude oil prices and Middle Eastern geopolitical tensions bolster the greenback.

Nigeria’s foreign exchange reserves have dipped by $114 million over the past week, falling from a recent peak of $52.04 billion on July 22 to $51.92 billion as of July 29. Despite this brief decline, the reserves remain well above the $51.46 billion recorded at the end of June. The external buffer continues to show resilience following months of steady growth driven by improved oil receipts and increased diaspora remittances, providing a stronger cushion for international obligations.