Unitrust Insurance Company Limited is marking its 40th anniversary, reflecting on four decades of operations in the Nigerian insurance market. Incorporated on August 13, 1986, the firm highlighted its commitment to financial strength and customer-centric service. Managing Director Adedayo Arowojolu stated that the company plans to focus on digital innovation, simplified processes, and enhanced service delivery to meet evolving customer needs as it enters its next phase of growth.

African airlines recorded significant efficiency gains in June 2026 by optimizing limited capacity amidst rising demand. While global air cargo capacity grew, African carriers reduced cargo capacity by 7.1 percent year-on-year. This strategic adjustment, coupled with a 4.7 percent increase in demand—largely driven by the Africa-Asia trade corridor—pushed the region’s cargo load factor up by 5.4 percentage points to 48.1 percent. This performance underscores a growing ability within the continent’s aviation sector to maximize yield despite limited fleet availability. Globally, the air freight sector saw an 8.5 percent demand increase, supported by lower jet fuel prices, though IATA warns that geopolitical tensions and trade policy uncertainties remain key challenges for the remainder of the year.

IHS Nigeria has launched the second edition of its teacher capacity-building initiative, the Osun Teacher-Shift 2.0 programme. The training aims to equip 209 technical and vocational teachers in Osun State with modern pedagogical skills and industry-relevant practices to improve classroom learning outcomes. The project, held in partnership with the Osun State Board of Technical and Vocational Education, is part of the company’s commitment to supporting economic development through quality education.

Jumia Technologies AG saw its shares rise by over 10% following a robust second-quarter performance, characterized by a 14% revenue increase to $52 million and a 36% reduction in adjusted EBITDA losses to $8.7 million. The company’s focus on profitable growth over aggressive discounting yielded a 20% rise in Gross Merchandise Value (GMV), with Nigeria serving as a primary growth engine, recording a 36% year-on-year increase in physical-goods GMV. Simultaneously, Jumia announced a $50 million equity capital raise, anchored by a $25 million investment from the International Finance Corporation, to support its path toward breakeven by Q4 2026.

Significant infrastructure expansion in Abuja, including new road networks and landmark projects like the African Medical Centre of Excellence, is driving a sharp appreciation in property values across the Federal Capital Territory. While these developments have boosted connectivity and attracted real estate investment, they have also triggered speculative land pricing and steep rent hikes, forcing many residents and small businesses to relocate. Industry experts note that the current housing supply is heavily skewed toward the luxury segment, further straining affordability for low- and middle-income earners and highlighting an urgent need for policies to support affordable rental accommodation.

Libya’s economy presents a significant investment paradox, marked by vast oil wealth and reconstruction potential, yet hindered by profound structural and political instability. A critical issue is the 20 percent parallel market exchange rate premium, with the official rate at 6.37 Libyan dinars to the dollar and the black market at 7.65. This distortion acts as a scarcity tax, severely stifling private sector growth, which currently accounts for only 5 percent of GDP. While international efforts and oil capacity expansion projects are underway, investors face severe risks regarding foreign currency access, pricing volatility, and physical security. Achieving economic stability remains contingent on central bank exchange rate unification and the insulation of the energy sector from political interference.

President Bola Tinubu has signed the Deep Offshore Oil and Gas Projects Incentives Order, 2026, to unlock approximately $50 billion in dormant deepwater investments. The framework replaces years of project-by-project negotiations with a fixed, transparent tax credit and profit-sharing regime. Qualifying projects, such as the Bonga South West field, can receive tax credits of up to $11.50 per barrel, provided a Final Investment Decision is reached by 2029. To qualify, operators must maximize local content in project execution. This shift aims to improve Nigeria’s competitiveness against regional rivals by providing the fiscal certainty investors require.

Kelvin Efosa Obasuyi, founder of Vector, has urged African fintech founders to integrate regulatory compliance into product development from the start rather than treating it as an afterthought. Highlighting his experience in cross-border finance, Obasuyi noted that ignoring regulatory requirements during the design phase often leads to costly architectural rebuilds, delayed market entry, and strained banking relationships. He argued that treating compliance as a core design discipline strengthens institutional trust and is essential for scaling across jurisdictions.

Africa’s private sector recorded its strongest performance in seven months this July, with the average Purchasing Managers’ Index rising to 51.0 from 50.5 in June. This expansion was driven by increased demand, easing inflation, and improved business confidence across most tracked economies, including Nigeria, Kenya, and Uganda. However, analysts warn that the recovery remains fragile. Renewed tensions in the Middle East and the resulting surge in oil prices towards the end of the month threaten to raise transportation and shipping costs, potentially dampening growth and complicating monetary policy for central banks across the continent.

The 650,000-barrel-per-day Dangote Refinery is acting as a catalyst for West African regulators to develop an independent regional fuel pricing benchmark and trading hub. Regulators aim to transition the continent from a price-taker to a credible center for price discovery and value creation. However, success depends on bridging significant infrastructure, logistics, and regulatory gaps, including the harmonization of fuel standards and increased investment in storage and pipelines.

Mid-tier Nigerian banks outperformed the broader sector in the first half of 2026, with FCMB Group, Wema Bank, and Sterling Financial Holdings posting double-digit profit growth. Combined after-tax profit for these four banks, including Ecobank Transnational Incorporated, rose 14.7 percent to 730.2 billion naira. FCMB led the growth with a 90.5 percent profit surge, while Wema Bank grew by 50 percent and Sterling by 20.6 percent. Conversely, Ecobank Transnational Incorporated saw a 5.8 percent profit decline, driven by pressure on non-interest income and higher impairment charges. Analysts note a widening performance gap in the sector, where smaller lenders are successfully leveraging balance sheet expansion, while regional players struggle with earnings volatility.

The Securities and Exchange Commission (SEC) has mandated a 5:00 p.m. deadline for the T+1 settlement cycle for all equities and commodities transactions. This directive ensures that trades are fully settled within the Trade plus One day timeframe, aligning with Delivery versus Payment (DvP) standards. While capital market operators must ensure sufficient funding to meet these obligations, the SEC clarified that foreign portfolio investors are exempt from mandatory pre-funding requirements. The transition aims to improve market liquidity and reduce counterparty risk.

The Federal Government is launching 41 university-based innovation hubs, branded as UniPods, to transition Nigeria toward a knowledge and technology-driven economy. Minister of Education, Tunji Alausa, stated that the initiative aims to convert academic research into commercial businesses and job opportunities, supporting President Bola Tinubu’s objective of achieving a one trillion dollar economy. The hubs will focus on regional economic strengths, including agriculture, blue economy, and industrial technology. Currently, three hubs are operational, with eight total slated for initial deployment.

The Economic Community of West African States (ECOWAS) is developing a regional carbon market platform to address a $294 billion climate finance deficit. By establishing a harmonized regulatory framework, ECOWAS aims to leverage the region’s vast agricultural, forest, and mangrove assets to generate high-quality carbon credits. This initiative seeks to mitigate the displacement risk for approximately 32 million West Africans, aligning with regional strategies to improve participation in international carbon markets.

The Manufacturers Association of Nigeria (MAN) has officially endorsed the Arridex 3D manufacturing hub in Lagos, highlighting the potential for additive manufacturing to reduce industry dependence on foreign industrial components. MAN Director-General Segun Ajayi-Kadir emphasized that the association will collaborate with its members to integrate this technology to boost operational resilience. Arridex Group CEO Kayode Adeleke stated that the hub, which opened earlier this year, aims to provide on-demand local manufacturing to lower FX exposure and working capital requirements. A larger Mega Omnifactory is planned for 2027.

The Nigerian naira strengthened to N1,360.15 against the US dollar at the Nigerian Foreign Exchange Market on Wednesday, marking its strongest closing position since June 16. This 0.36% appreciation reflects a broader recovery trend in August, supported by the Central Bank of Nigeria’s aggressive monetary tightening, including significant liquidity absorption through OMO and Treasury Bills auctions. The currency has now appreciated by 1.55% since mid-July.

Standard Bank Group, Africa’s largest lender by assets, reported a 10 percent increase in headline earnings to 26.1 billion Rand for the first half of 2026. This growth was driven by robust fee and trading income alongside lower credit impairment charges, which successfully offset pressure on net interest margins. Reflecting strong performance, the bank declared a record interim dividend of 902 cents per share. While net interest margins narrowed to 472 basis points due to competitive pricing and interest rate shifts, the group’s diversified revenue streams sustained profitability.

The Central Bank of Nigeria hiked the stop rate on its 364-day Treasury Bill to 17.59% at the August 12 auction, surprising the market despite overwhelming investor demand. Investors submitted bids totaling N4.4 trillion against a N700 billion offer, yet the apex bank raised the one-year rate by 24 basis points from 17.35%. This move, which saw N1.26 trillion allotted for the one-year tenor, suggests the CBN is utilizing auctions to mop up excess system liquidity rather than signaling a shift toward rate easing. Short-term rates for the 91-day and 182-day bills remained unchanged at 16.30% and 16.50% respectively. The outcome challenges expectations for immediate yield compression ahead of the September Monetary Policy Committee meeting.

Airtel Nigeria has surpassed 17,000 cell sites across the country, as the telecommunications operator continues an aggressive expansion strategy to reach underserved rural communities. According to the company’s latest data, over 1,000 sites are being added annually, with 99 percent of the network now 4G-enabled. This infrastructure push aims to bolster mobile data capacity, enhance network resilience, and support Nigeria’s broader digital economy, including mobile financial and commercial services. Airtel intends to maintain this investment pace throughout the 2026 financial year.