Gunmen launched attacks in Plateau State on Thursday night, resulting in the death of one man in Bassa Local Government Area and leaving a pastor and two others injured in Bokkos Local Government Area. Community leaders have condemned the recurring violence and called for urgent security interventions as residents express growing concern over persistent insecurity in the region.

Oil prices are trading near $90 per barrel as geopolitical tensions between the US and Iran continue to impact global energy markets. While Brent crude briefly retreated to $88 following signs of improved tanker traffic through the Strait of Hormuz, both Brent and WTI benchmarks remain on track for a near 20 percent monthly gain. Ongoing military strikes and security concerns in the Gulf have kept a significant risk premium embedded in prices, even as Saudi Arabia leads efforts to form a multinational coalition to secure key regional shipping lanes.

Nigerian Breweries Plc has reported strong first-half 2026 financial results, characterized by a return to a net cash position and the elimination of interest-bearing debt. The company recorded a profit after tax of N92.95 billion, a 5 percent increase from N88.42 billion in the same period last year. Profit before tax rose 18 percent to N156.33 billion, driven by revenue growth of 9 percent to N803.68 billion, supported by strategic brand investments and revenue management initiatives. Notably, the firm cleared its accumulated losses, with retained earnings moving into positive territory at N13.65 billion. While operating expenses rose due to higher distribution and marketing costs, the significant reduction in finance costs bolstered overall profitability.

The Edo State Command of the National Drug Law Enforcement Agency (NDLEA) has raised alarms over a surge in female involvement in drug trafficking. In July, the agency arrested 49 suspects in the state, 29 of whom were female. The crackdown also resulted in the seizure of over 2,500 kilograms of illicit substances, the raiding of three warehouses, and the destruction of a significant cannabis farm in the Orhionmwon area. NDLEA officials highlighted this shift as a concerning reflection of growing socio-economic vulnerability among women.

Access Bank has officially debunked viral social media reports claiming it is shutting down operations. The lender described the claims as misleading and confirmed that all services remain fully operational. The bank, which reassured stakeholders of its financial strength, is now working with regulatory and law enforcement agencies to identify and prosecute the perpetrators under the Cybercrimes Act. Customers are advised to ignore the rumors and rely solely on the bank’s verified communication channels.

The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of N535 billion for June 2026, marking a 15.8% increase from N462 billion in May. This performance, the highest in ten months, was supported by N4.39 trillion in monthly revenue and a sharp rebound in crude oil sales, which hit a 12-month high of 27.23 million barrels. Total statutory payments to the Federation for the first half of 2026 reached N6.29 trillion. Despite operational challenges affecting production, the company continues to advance key infrastructure projects, including the OB3 gas pipeline, expected to deliver first gas in August 2026.

Crest Proptech Limited, a division of Crestscape International Limited, has launched the Crest App, a digital marketplace designed to tackle fraud in Nigeria’s real estate sector. The platform offers verified listings for rentals, short-term stays, and property sales by mandating identity and title authentication for all participants. Transactions are supported by automated legal services and processed through a secure payment infrastructure. To incentivize adoption, the company is covering verification costs for the first 100 properties listed on the platform.

AXA Mansard Insurance Plc has reported a pre-tax profit of N8.41 billion for the six months ended June 30, 2026, marking a 9% increase from the N7.73 billion recorded in the same period last year. The growth was primarily driven by strong insurance operations, with insurance revenue rising 19% to N96.49 billion and insurance service results jumping 43% to N13.21 billion. While investment returns declined to N4.71 billion due to foreign exchange and fair-value losses, the company’s profit after tax grew by 14% to N7.77 billion, resulting in earnings per share of 87 kobo. Total assets rose to N269.87 billion, supported by cash and cash equivalents of N36.15 billion.

Tolaram Corporation’s 2024 acquisition of a majority stake in Guinness Nigeria has yielded significant returns, with the investment’s value increasing fivefold. Tolaram acquired Diageo’s 58.02 percent stake in June 2024 at N81.60 per share, totaling N103.71 billion. Following a successful operational overhaul and balance sheet recovery, Guinness Nigeria shares closed at N383 on July 29, 2026. Under Tolaram’s stewardship, the company has transitioned from heavy foreign exchange losses to profitability, reporting a H1 2026 net profit of N25.30 billion and resuming dividend payments, including a total of N9 per share for 2026. Tolaram has already recovered approximately N11.43 billion in dividends from its initial investment.

Femi Otedola has increased his stake in First HoldCo Plc to 25.87 percent, following the acquisition of 1.779 billion additional shares for N222.2 billion. This move, executed through Calvados Global Services Limited, follows a separate purchase on July 22, bringing his total investment in the bank to nearly N300 billion in just one week. His total holding is now valued at approximately N1.47 trillion. This accumulation places Otedola near the 30 percent mandatory takeover threshold. First HoldCo, which recently reported an 83.5 percent rise in H1 profit before tax to N653.54 billion, has become Nigeria’s most valuable bank with a market capitalization exceeding N5.5 trillion.

The year-long insurance recapitalisation program in Nigeria concluded today, with the industry now awaiting official verification from the National Insurance Commission (NAICOM). Despite market expectations for industry-wide mergers, operators primarily met the new capital thresholds—ranging from N10 billion to N35 billion—through rights issues, private placements, and internal restructuring. Collectively, insurers raised approximately N300 billion. The regulator will now publish a list of fully compliant firms; companies failing to meet the requirements may face further regulatory action or consolidation.

Abubakar Alhaji, Nigeria’s longest-serving Minister of Finance and the Sardaunan Sokoto, has passed away at 89. He died on Thursday in Abuja following a long illness, marking the end of a storied career in public service. Over three decades, he served in several key roles, including Permanent Secretary, Minister of State for Budget and Planning, and High Commissioner to the United Kingdom, significantly influencing Nigeria’s fiscal policy and international relations.

Samsung Electronics has launched its latest AI-powered foldable smartphones in Nigeria, aiming to solidify its lead in the competitive premium smartphone market. The new devices emphasize productivity, advanced multitasking capabilities, and enhanced device durability. By integrating deep AI functionality for communication and content creation, Samsung seeks to differentiate itself from rivals like Apple, TECNO, and Xiaomi, targeting professional users and content creators who demand high-performance hardware. The company is also bolstering consumer confidence through improved after-sales support to address durability concerns.

Nigeria’s Minister of Agriculture and Food Security, Abubakar Kyari, and the National Agricultural Development Fund (NADF) Executive Secretary, Mohammed Ibrahim, have advocated for a shift toward market-driven agricultural research financing. Speaking at the 9th Africa Agriculture Science Week, they argued that sustainable transformation requires connecting research outcomes directly to industry and private sector investment. NADF outlined its strategy of using debt, grants, and equity to bridge the gap between academic research and commercial agricultural productivity.

Caliphate Airlines, a new commercial carrier backed by the Sokoto State Government, is scheduled to be commissioned by President Bola Ahmed Tinubu on August 18, 2026. The airline plans to launch with a fleet of five Embraer jets, connecting Sokoto, Abuja, and Kano. Minister of Aviation and Aerospace Development, Festus Keyamo, has pledged federal support to ensure the carrier’s regulatory requirements are met to facilitate its timely market entry.

Global credit rating giants are acquiring established African agencies to bolster their local market presence, even as the continent prepares to launch its own independent credit rating institution. Firms including S&P Global and Moody’s have recently bought companies like Agusto and Co. and Global Credit Ratings, aiming to better understand regional dynamics. Simultaneously, the African Credit Rating Agency is set to launch in October, seeking to challenge global methodologies that critics argue inflate the cost of borrowing for African sovereigns and firms.

The Nigerian Ports Authority (NPA) has secured funding and completed site preparations for a $1 billion modernization program for Apapa and Tin Can Island ports. The four-year project, supported by a £746 million UK Export Finance agreement, aims to address aging infrastructure and increase capacity. In the interim, the NPA has deployed the Port Community System and National Single Window to streamline trade, alongside a multi-agency task force to mitigate ongoing congestion and extortion at Lagos port access points. Groundbreaking is expected within weeks.

Seplat Energy Plc reported a 498% year-on-year increase in profit after tax to $164 million for the half-year ended June 30, 2026. Revenue grew to $1.82 billion, supported by a favorable commodity price environment. The company declared a second-quarter dividend of 12 cents per share and announced plans for a total 2026 dividend of 68.3 cents per share, following an agreement to sell a 10% interest in the NNPCL-SEPNU joint venture to NNPC Limited. Effiong Okon will succeed Roger Brown as CEO on August 1, 2026, and Tony Elumelu will become Chairman of the Board on January 1, 2027.

BusinessDay Media Limited is hosting an industrial summit today in Awka, Anambra State, focused on globalizing local brands for economic sustainability. The event, held at the International Convention Centre, brings together government officials, industry leaders, and trade groups to discuss strategies for expanding Anambra-based businesses into regional and global markets. Key figures scheduled to speak include Ada Chukwudozie of Keystone Bank and Innocent Chukwuma of Innoson Manufacturing Vehicles. Pineleaf Real Estate Limited and the Anambra State Market Amalgamated Traders Association are key partners in the initiative.