Nigerian paint manufacturers are urging the Standards Organisation of Nigeria (SON) to localise international coating standards to help local players compete in the nation’s $2.6 billion industry. During the Paint Manufacturers Association of Nigeria (PMA) 33rd Annual General Meeting, industry leaders highlighted that the current market is dominated by imports, particularly from oil and gas firms, while local manufacturers struggle with high production costs, reliance on imported raw materials, and poor power infrastructure. In response, SON announced that all manufacturers must adopt a new, digitized Mandatory Conformity Assessment Programme (MANCAP) logo by October 1, 2026, to ensure product quality and consumer trust.

Olam Agric executive Ade Adefeko has warned that Nigeria’s agricultural sector remains hampered by fragmented policies and severe infrastructure deficits. Speaking on the need for a long-term strategic approach, Adefeko highlighted that while the country excels in primary production, a lack of investment in storage, processing, and logistics prevents the sector from achieving its full industrial potential. He argued that the nation’s core challenge lies in moving products from farms to consumption hubs, urging the government to prioritize consistent, multi-year development plans and private sector collaboration to drive food sovereignty.

Sterling Financial Holdings Company Plc reported a strong performance for the first half of 2026, with gross earnings rising 31.5 percent to N279.6 billion. The growth was primarily driven by a 33.7 percent increase in interest income, reaching N223.6 billion, and a 23.3 percent rise in non-interest income to N56 billion. Net profit after tax grew by 20.4 percent to N50.3 billion, supported by expanded lending activities and a 19.3 percent growth in total assets to N4.67 trillion. Shareholders’ funds rose significantly by 27.8 percent to N547.7 billion, bolstered by the company’s recent N96.6 billion public share offer. Management attributed the results to ongoing technology upgrades and a diversified earnings mix across its commercial, non-interest, and wealth management divisions.

The Central Bank of Nigeria (CBN) has identified foreign exchange (FX) infractions among authorised dealers following a comprehensive review of 34 financial institutions. The examination, covering the period from April 2024 to March 2025, sought to ensure compliance with FX regulations and assess the utilisation of funds. While the CBN reported broad compliance, it recommended penalties for specific identified infractions. The apex bank also conducted joint risk-based asset assessments with the NDIC throughout 2025 to bolster supervisory oversight and system stability.

S&P Global Ratings has indicated that the looming threat of a super El Niño is unlikely to trigger widespread sovereign credit rating downgrades across Africa. Lead analyst Joydeep Mukherji stated that while weather-related disruptions are a risk, ratings are designed to absorb temporary shocks. The primary threat to sovereign creditworthiness remains how governments choose to respond; analysts warned that excessive fiscal spending on subsidies or bailouts to mitigate weather impacts could weaken public finances and negatively affect ratings. Countries with flexible exchange rate regimes are viewed as better positioned to manage these climate-driven economic pressures.

Presidential aide Tope Fasua has urged a reassessment of Nigeria’s monetary policy framework, cautioning that persistent high interest rates may be stifling economic growth without effectively curbing inflation. Speaking at the Africa Emerging Markets Forum in Abuja, Fasua argued that Nigeria’s unique economic structure—characterized by a large informal sector and limited reliance on credit—renders conventional monetary tightening less effective. He highlighted that inflation in the country is primarily driven by supply-side constraints rather than excessive consumer demand, suggesting that policymakers should move beyond traditional rate-focused strategies to better support the domestic economy.

The Association of Securities Dealing Houses of Nigeria (ASHON) is backing the African Exchanges Linkage Project (AELP) to boost cross-border trading and regional market integration. ASHON Chairman, Sehinde Adenagbe, noted that the Nigerian capital market now contributes 33 percent to GDP, supported by the efficient T+1 settlement cycle and the Investment and Securities Act 2025. Adenagbe highlighted that the market remains attractive with undervalued equities and anticipates future strategic listings, such as Dangote Refinery and Petrochemicals, to further broaden investment options.

The Nigerian equities market faced a mid-week downturn on Wednesday as profit-taking across the banking, consumer goods, and industrial sectors wiped 648 billion naira from total market capitalization. The NGX All-Share Index fell 0.41% to 246,980.17 points, reflecting a broad-based decline with 45 losers outpacing 23 gainers. Despite the overall negative sentiment, the insurance sector remained resilient, with stocks like Lasaco Assurance, NEM Insurance, and SUNU Assurances posting significant gains. Notable laggards included NREIT, which hit a 52-week low, alongside declines in Dangote Sugar, Oando, and major banking names. Trading activity remained high, with total volume rising by 12.11%.

The Central Bank of Nigeria saw massive demand at its final Treasury bill auction for July 2026, with investors bidding N3.38 trillion for the 364-day bill, nearly seven times the N500 billion offered. Despite this heavy oversubscription, the CBN lowered the stop rate for the one-year instrument by 31 basis points to 17.35%. In total, the apex bank allotted N1.25 trillion across all three tenors, signaling improved system liquidity and a slight easing of government short-term borrowing costs.

The Federal Government is developing a new framework to reduce the cost of capital for businesses without introducing new subsidies. Finance Minister Taiwo Oyedele announced that this initiative aims to complement the Central Bank of Nigeria’s efforts to curb inflation and stimulate economic growth. High borrowing costs have been identified as a major barrier to the administration’s goal of achieving a one trillion dollar economy by 2030. Additionally, the government plans to release a report detailing savings from the removal of fuel and foreign exchange subsidies and how those funds have been allocated to social programs and debt servicing.

The Federal Government is developing a new framework to lower the cost of capital for businesses without resorting to fresh subsidies. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated that the initiative aims to complement Central Bank policies in curbing inflation and boosting private sector investment. Additionally, the government plans to release a detailed report soon on the utilization of savings from the removal of fuel and foreign exchange subsidies. Oyedele defended the administration’s reform path, citing improved macroeconomic indicators such as increased capital inflows and recent bank recapitalization successes as evidence of progress toward a one trillion dollar economy by 2030.

Real Madrid has achieved a historic financial milestone, becoming the first sports organization to surpass €1.2 billion in annual operating revenue. For the 2025/2026 financial year, the club reported record revenues of €1.221 billion and a net profit of €26.3 million, marking 26 consecutive years of profitability. This growth was largely driven by commercial income and the redeveloped Santiago Bernabéu stadium, which generated €363 million, effectively reducing the club’s financial dependence on winning major trophies.

Nigerian grocery delivery startup GoLemon has officially ceased operations after failing to secure essential follow-on funding. The shutdown, which affects 33 employees, marks the end of a two-year operational period in Lagos. The company stated that it explored various capital-raising options but could not find a sustainable path forward. While the startup is currently winding down, it confirmed that all customer refunds have been processed and limited support will remain available until August 2. GoLemon joins a growing number of Nigerian startups facing closure due to the ongoing venture capital funding winter.

Femi Otedola has increased his stake in First HoldCo Plc to 25.87% following the acquisition of an additional 1.779 billion shares for N222.2 billion. This latest purchase, executed at N124.90 per share, brings his total holding to 11.76 billion shares, valued at approximately N1.47 trillion. This transaction marks his second major accumulation in just over a week, totaling nearly N300 billion in new investment. Otedola remains the company’s largest shareholder, now nearing the 30% threshold that would trigger a mandatory takeover offer under regulatory rules. The aggressive accumulation follows a period of record-breaking financial performance for the bank, which recently surpassed a N5 trillion market capitalization milestone.

UAC of Nigeria Plc has reported a pre-tax profit of N34.45 billion for the first half of 2026, a 210.3% increase from N11.10 billion in the same period last year. Revenue rose by 230.6% to N364.97 billion, largely driven by the consolidation of C.H.I. Limited into the group’s Packaged Food and Beverages segment. While administrative and finance costs climbed significantly, the company’s profit after tax grew by 176.6% to N19.26 billion. Earnings per share climbed to 658 kobo, compared to 238 kobo in 2025.

Prestige Assurance Plc has reported a 102% increase in its half-year profit after tax, reaching N1.05 billion for the period ending June 30, 2026, compared to N519.6 million in the same period last year.

This growth was driven by a significant improvement in underwriting performance, with the insurance service result jumping to N1.09 billion from N18.28 million, despite a 16% decline in gross premium written to N12.83 billion. Although total investment income fell by 24% to N1.25 billion and operating expenses rose due to administrative costs and penalties, the company’s strong underwriting margins effectively doubled its pre-tax profit to N1.14 billion. The firm’s net assets grew by 5% to N21.32 billion, supported by retained earnings.

Seplat Energy Plc has entered into a binding agreement to sell a 10% working interest in its joint venture assets with NNPC Limited for $281.6 million. The transaction, effective April 1, 2026, will reduce Seplat’s stake in the joint venture from 40% to 30%, while the state oil company’s stake increases to 70%. Despite the divestment, Seplat will retain operational control. The firm plans to allocate half of the proceeds to debt reduction and distribute the remaining $140 million—approximately 23.3 US cents per share—as a special dividend to shareholders. Completion of the deal is expected in the second half of 2026.

United Capital Plc’s Group Chief Executive Officer, Peter Ashade, has stated that the National Pension Commission’s (PenCom) revised investment guidelines for Retirement Savings Accounts (RSA) could unlock over N2 trillion in new institutional inflows into the Nigerian equities market. Speaking at the firm’s investor relations roundtable, Ashade noted that increased equity allocation limits for pension funds will significantly enhance liquidity and provide long-term funding for listed companies. Alongside this regulatory tailwind, United Capital reported strong H1 2026 performance, with gross earnings rising 58% to N37.49 billion and profit after tax up 77% to N21.10 billion. The firm plans to leverage this liquidity by expanding its asset management, investment banking, and digital wealth offerings across Nigeria and the West African region.

Leadway Assurance, CubeCover, and Vitse Technologies have been named official partners for the fifth edition of the Insurance Meets Tech (IMT 5.0) conference. Scheduled for September 18, 2026, in Lagos, the event focuses on the theme Building Insurance That Connects, highlighting the integration of traditional underwriting, digital innovation, and infrastructure technology within the Nigerian insurance sector. The partnerships underscore a collective push to improve accessibility and operational efficiency across the industry.