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Critical Minerals Financing Corp leads NGX gainers in September with 55.96% surge

KEY POINTS

  • Critical Minerals Financing Corporation (CMFC) Plc emerged as the top gainer on the Nigerian Exchange (NGX) for September 2026, appreciating by 55.96 per cent.
  • The broader equities market experienced robust growth as total market capitalization rose by N5.37 trillion to close the month at N163.105 trillion, while the All-Share Index gained 2.87 per cent to reclaim the 250,000-point threshold.
  • CMFC’s stellar market performance coincided with the recognition of its President and Co-Chief Executive Officer, Dr. Israel Ovirih, among Nigeria’s Top 25 CEOs by BusinessDay in collaboration with the NGX.

MAIN STORY

The Nigerian equities market wrapped up September 2026 on a bullish note, propelled by strong value stock accumulation, portfolio rebalancing, and corporate restructuring.

Data from the NGX revealed that the All-Share Index advanced by 2.87 per cent during the month, climbing from 244,199.39 points to 251,211.67 points and successfully reclaiming the 250,000-point level, while total market capitalization expanded by N5.37 trillion to close at N163.105 trillion.

Leading the performance chart was Critical Minerals Financing Corp (CMFC) Plc, which surged 55.96 per cent after recording 4,895 deals involving 253.25 million shares valued at N700.12 million.

The rally pushed CMFC’s market valuation past N11.10 billion and generated approximately N3.98 billion in shareholder capital gains. Other notable gainers included UPDC REIT (45.42 per cent), Zichis Agro Allied Industry (36.77 per cent), and NGX Group (35.68 per cent). Conversely, International Energy Insurance led the losers’ chart with a 20.21 per cent decline, followed by Chams Plc and Austin Laz.

Market analysts attributed CMFC’s exceptional run to investor enthusiasm surrounding its specialized focus on Africa’s critical minerals and metals sector, alongside strong corporate governance.

The company’s momentum was further amplified when its President and Co-Chief Executive Officer, Dr. Israel Ovirih, was honored among Nigeria’s Top 25 CEOs by BusinessDay Media in partnership with the NGX. NGX CEO Jude Chiemeka and BusinessDay CEO Frank Aigbogun praised Ovirih’s strategic leadership and CMFC’s pivotal role in bridging global mineral demand with African value chains through structured financing and regulatory compliance.

THE ISSUES

  1. Expanding capital market access for specialized sectors like critical minerals requires robust institutional financing frameworks and strong corporate governance standards.
  2. Managing primary market listings and capital additions is essential for sustaining long-term market capitalization growth alongside index fluctuations.

WHAT’S BEING SAID

“CMFC remains committed to unlocking value in Nigeria and Africa’s critical minerals and metals sector through structured financing… helping African countries formalise their mining sectors through governance structures, financing and technical expertise.”

  • Dr. Israel Ovirih, President and Co-CEO, CMFC

“The Top 25 CEOs were selected using measurable corporate governance and performance parameters… highlighting CMFC’s role in opening the capital market to Nigeria’s minerals sector.”

  • Jude Chiemeka, CEO, NGX

WHAT’S NEXT

CMFC will advance its strategic financing initiatives to formalize Africa’s mining value chain, while market participants monitor early-fourth-quarter trading patterns for sustained liquidity.

BOTTOM LINE

Critical Minerals Financing Corporation led September gains on the NGX with a 55.96 per cent rally, capping a strong month that saw market capitalization expand by N5.37 trillion.

Iran-US conflict widens to Yemen and Hormuz amid diplomatic spat

KEY POINTS

  • The Iran-U.S. conflict has expanded into Yemen as government-aligned forces strike Houthi targets in Sanaa and Saada, while President Rashad al-Alimi vows to reclaim remaining territory.
  • Tensions at the Strait of Hormuz escalated after an unknown projectile struck a commercial tanker, raising fears of supply disruptions at a critical global oil chokepoint.
  • Iranian Foreign Minister Abbas Araghchi dismissed reports that Tehran’s UN delegation was expelled by Washington, insisting diplomats departed on schedule following the General Assembly.

MAIN STORY

The geopolitical fallout from the Iran-U.S. conflict deepened over the weekend as hostilities spilled further into Yemen, regional shipping lanes, and international diplomacy.

Yemeni government-aligned forces confirmed ongoing military strikes against Houthi targets in Sanaa and Saada, supported by President Rashad al-Alimi’s vow to liberate remaining territory from insurgent control.

Meanwhile, Tehran rejected U.S. preconditions regarding the Strait of Hormuz, demanding concessions while warning it is fully prepared for military escalation. The vital oil chokepoint remains a high-risk flashpoint following an attack on a commercial tanker by an unidentified projectile.

Concurrently, security operations and diplomatic friction added to international tensions. The U.S. Department of War confirmed on Sunday that Air Force bombers were relocated from RAF Fairford in England amid an ongoing investigation into a suspected terror plot targeting the installation.

In the Middle East, the Israel Defense Forces reported eliminating a Hamas Nukhba operative who allegedly exploited humanitarian cover to fund anti-Israel terror operations.

Diplomatic relations between Washington and Tehran also remained strained following reports that U.S. Secretary of State Marco Rubio demanded the immediate departure of Iran’s UN delegation on September 28 amid stalled bilateral talks.

Iranian Foreign Minister Abbas Araghchi forcefully pushed back against claims of an expulsion, stating on social media that all diplomats departed as scheduled after the UN General Assembly and criticizing Washington’s handling of host-nation obligations as a sign of diplomatic desperation.

THE ISSUES

  1. Securing critical maritime trade corridors like the Strait of Hormuz is vital for preventing severe global energy supply shocks amid expanding Middle Eastern hostilities.
  2. Managing diplomatic channels during active geopolitical conflicts remains critical to preventing miscalculations and unwarranted escalations between nuclear-capable adversaries.

WHAT’S BEING SAID

“All Iranian diplomats who attended the U.N. General Assembly, except one who departed earlier, left as scheduled. Taking pride in fake diplomat ‘expulsion’ is inappropriate… It oozes of desperation and defeat.” – Abbas Araghchi, Iranian Foreign Minister

WHAT’S NEXT

International monitors and naval coalitions will maintain heightened security patrols across the Strait of Hormuz while tracking military developments in Yemen and ongoing diplomatic maneuvers between Washington and Tehran.

BOTTOM LINE

The Iran-U.S. conflict widened into Yemeni combat zones and strained maritime chokepoints over the weekend, accompanied by sharp diplomatic rebuttals between Tehran and Washington over UN delegation travel timelines.

Why intelligent operations require complete visibility in AI era

Bryan Hamman

By Bryan Hamman, Area Vice President, Africa at NETSCOUT

Enterprises are moving quickly from using AI to analyse operations, to applying it to make operational decisions. What began as advisory analytics has rapidly evolved into closed-loop control systems, with automated remediation, policy enforcement and real-time routing decisions executing in seconds, often without human intervention. As a result, before expanding AI-driven operations, executives should pressure-test readiness with some key questions.

The shift of AI making recommendations for operational decisions to making those operational decisions, changes the stakes significantly. Once AI enters the operational control loop, it is more than an analytical tool, becoming instead an authoritative decision-maker that is directly involved in shaping system behaviour, availability and risk exposure. Its reliability therefore depends on the completeness of what it can observe.

Full-fidelity visibility and data captures interactions across services, dependencies and environments, including internal and encrypted traffic, so cause and impact can be validated in real time rather than inferred after the fact.

Organisations that get this right can use AI with confidence as an operational force multiplier, reducing incidents, shortening outages and ensuring automated actions remain defensible under executive, regulatory and audit scrutiny.

Successful Automation Requires Complete Evidence

Many executive conversations about AI risk focus on models, governance or ethics. But these discussions assume that the environment feeding the model is observable enough to support defensible decisions. Yet, AI initiatives still rely on observability foundations designed for a simpler era, before encryption, dynamic architectures and complex dependencies became the norm.

Consider an AI system that detects rising latency and automatically scales application capacity. User metrics briefly improve, reinforcing confidence in the decision. What the system cannot see, however, is an encrypted service-to-service dependency hitting a cloud-provider limit. The real constraint sits in east-west traffic outside the model’s visibility. Scaling increases load, accelerates failure and widens the blast radius.

The AI did not malfunction. It acted correctly on incomplete evidence that did not accurately reflect reality. This is where the distinction between AI that can act, and AI that can act with sufficient proof, becomes important.

Smarter Decisions are not Born from More Data

More data does not automatically improve decision confidence. Businesses can instead end up with fragmented ownership, selective retention and missing context, leaving AI systems detecting anomalies without defensible proof of cause and impact.

When ownership of data is fragmented, evidence becomes disjointed as well. During incidents, this forces leaders to choose between acting quickly on incomplete information or slowing decisions until proof emerges.

In boardrooms and regulatory reviews, this hesitation can show up as delayed approvals, overridden automated actions or reduced confidence in AI-driven initiatives. Over time, AI systems may technically exist in the environment, but their authority can become constrained because the enterprise cannot defend their decisions with substantiation when it matters most.

When AI is trained and tuned on partial telemetry, three outcomes are particularly likely:

·       False confidence – the model confirms stability because missing signals never appear.

·       Noisy alerts – uncertainty drives elevated sensitivity, flooding teams with warnings that do not resolve to the root cause.

·       Wrong actions – automation executes with high certainty in the wrong direction, accelerating impact instead of containing it.

Critically, these failure modes can initially appear successful, reinforcing trust in the system while quietly accumulating risk beneath the surface. For leaders, this creates a serious governance problem in that decision-making gets faster, but the proof supporting those decisions grows weaker.

Closing the Gap

Blind spots emerge where complexity outpaces visibility. These gaps rarely stem simply from missing tools, and they persist because transparency, ownership and control break down at the boundaries between teams, platforms and operating models.

Several areas deserve particular attention:

·       East-west traffic and service-to-service behaviour: Critical interactions increasingly occur between microservices and workloads that scale and relocate dynamically. AI cannot reason about behaviour it cannot observe.

·       Encrypted flows: Encryption reshapes visibility in distributed architectures. If observation stops where encryption begins, AI decisions are biased towards whatever remains observable.

·       Hybrid boundaries and cloud-provider dependencies: In hybrid environments, the root cause may sit in the network path, a cloud service limit, a third-party API or an identity policy change. Without cross-boundary dependency awareness, AI is forced to make decisions without access to the full chain of evidence.

·       Edge environments and remote sites: Edge locations are often operationally critical but unevenly governed. When telemetry quality varies by site, AI performs best where controls are strongest, rather than where business risk is highest.

Companies that close these gaps gain a durable operational advantage, namely AI systems that can reason across boundaries rather than guess at them.

The Role of Full-Fidelity Data as Operational Ground Truth

As environments grow more complex, organisations need at least one source of truth that reflects what actually happened, rather than what was inferred after the fact. That ground truth comes from reliable telemetry capturing real interactions across dependencies in real time.

For AI-driven operations, this ground truth matters in three ways. Firstly, it improves detection quality: AI can flag anomalies earlier when it moves beyond sampled indicators to richer behavioural baselines. This reduces both missed issues and noisy alerts because the model is less dependent on guesswork.

Next, it shortens the path to root cause. When evidence captures actual relationships between services, environments and flows, teams spend less time debating where to look. AI outputs become explainable because they are anchored to observable behaviour.

Finally, it makes automation safer. Automated actions are only safe when the system can validate assumptions before acting. Ground truth makes it easier to establish guardrails – confirm impact and scope, identify the correct containment step and then execute.

This shift is crucial. AI becomes less of a prediction engine and more one that supports decision-making under scrutiny.

A Practical Executive Test for AI Readiness

Before expanding AI-driven operations, executives should pressure-test readiness with the following four questions. 

Where do we knowingly accept blindness today? Not just at the perimeter, but inside service-to-service behaviour, hybrid boundaries, encrypted flows and edge environments is where failures often originate.

What was the last incident we could not prove in real time? If cause and impact are reconstructed after the fact, AI-driven decisions will inherit that uncertainty.

What data would hold up under pressure? Is there at least one source of truth that can support incident response, compliance scrutiny, and automated action without debate?

Who is accountable when automation acts? As AI shifts from decision support to decision execution, governance must become explicit. Speed does not eliminate responsibility but instead amplifies it.

The most important AI investments are not just in better models but utilise evidence that withstands scrutiny because the facts they ingest are the whole truth and nothing but the truth. Automation should move only as fast as the enterprise’s ability to prove cause, confirm impact and explain outcomes.

AI without blind spots is a governance requirement. Organisations that treat it as such will be better positioned to demonstrate that their systems acted wisely, defensibly and under control when it mattered most.

The objective is not to slow AI down. It is to give intelligent operations the clarity they need to act on concrete information rather than inference.

This is an opinion piece. The views expressed are the author’s own and do not necessarily reflect the editorial position of BizWatch Nigeria.

Trump announces $90 Medicare Part B relief checks for 20m seniors ahead of midterms

KEY POINTS

  • President Donald Trump announced that his administration will distribute direct payments of $90 to more than 20 million older Americans to assist with Medicare Part B premium costs.
  • The funds will be drawn from the Medicare Improvement Fund, with payments scheduled for distribution in early October via direct deposit or physical check.
  • The initiative coincides with intensive campaigning ahead of upcoming midterm elections as Republicans face competitive challenges amid voter concerns over living costs and foreign policy.

MAIN STORY

President Donald Trump announced that his administration will issue financial relief checks of nearly $100 to over 20 million older Americans to help offset their Medicare Part B premiums.

Revealed via a post on Truth Social late Friday and corroborated by a White House fact sheet, the initiative will utilize funds from the Medicare Improvement Fund, which was originally established in 2008 to enhance traditional Medicare coverage.

According to the White House release, most eligible seniors will receive a $90 direct deposit in early October, while those without direct deposit registered with Medicare will receive a physical check at their mailing address. Medicare Part B provides vital coverage for outpatient care, doctor visits, and preventive screenings.

This rollout follows a separate administration proposal to distribute approximately $500 in refund checks to individuals enrolled in Affordable Care Act plans. Furthermore, Trump reiterated a conditional campaign pledge to award $5,000 to every adult US citizen “if and when the Republicans win the Midterm Elections!”

The announcement comes as Trump returned to Washington from a midterm campaign rally in Mobile, Alabama, with elections barely a month away.

The Republican Party is defending narrow majorities in both the House and Senate against robust Democratic challenges, navigating difficult political headwinds driven by voter anxieties over the cost of living and the ongoing Iran conflict.

Political analysts view these targeted financial distributions as part of a broader strategy to alleviate economic pressures on households ahead of the closely contested polls.

THE ISSUES

  1. Utilizing statutory health funds for direct consumer payments during election cycles underscores the intersection of executive policy announcements and partisan electoral strategy.
  2. Addressing voter dissatisfaction over cost-of-living pressures and healthcare expenses remains a central challenge for legislative majorities defending seats in midterm elections.

WHAT’S BEING SAID

“Most eligible seniors will receive the payment in the form a direct deposit of $90 in early October. Those without direct deposit will receive a check, also sent in early October, to the mailing address they have registered with Medicare.”

  • White House Fact Sheet

“…if and when the Republicans win the Midterm Elections!”

  • Donald Trump, US President

WHAT’S NEXT

The administration will disburse the Medicare Part B relief payments throughout early October while political campaigns intensify their outreach ahead of the midterm elections.

BOTTOM LINE

President Donald Trump announced $90 Medicare Part B relief checks funded by the Medicare Improvement Fund for over 20 million seniors, arriving amid fierce midterm election campaigning.

Biodun Coker Foundation gifts N5.25m to Lagos APC members for Dangote IPO shares

KEY POINTS

  • The Biodun Coker Foundation disbursed N5.25 million to All Progressives Congress (APC) members in Lagos Island on Saturday to acquire shares in the Dangote Refinery Initial Public Offer.
  • Titled “From APC Membership to Dangote Refinery Share Ownership,” the initiative ensures each beneficiary receives a minimum of 10 shares alongside financial literacy training conducted by CFG Africa.
  • Foundation founder Biodun Coker emphasized that the program aims to foster grassroots wealth creation and long-term asset ownership rather than temporary cash handouts.

MAIN STORY

The Biodun Coker Foundation has launched an innovative grassroots empowerment initiative, distributing N5.25 million to members of the All Progressives Congress (APC) in Lagos Island on Saturday, October 3, 2026.

Designed to foster sustainable economic mobility, the funds are earmarked for purchasing shares in the highly anticipated Dangote Refinery Initial Public Offer (IPO), ensuring that each participant secures a minimum of 10 shares alongside professional financial literacy and investment training administered by CFG Africa.

Speaking at the event, foundation founder Biodun Coker explained that the program—aptly themed “From APC Membership to Dangote Refinery Share Ownership”—stemmed from a desire to reward party loyalty while extending tangible ownership stakes in national industrial landmarks to everyday citizens.

Coker noted that traditional empowerment models often rely on short-term consumables, stating that sustainable upliftment must focus on helping individuals acquire appreciating assets for the future. Foundation Director Lekan Adeleke added that the scheme is designed to transition grassroots members from conventional political participation into long-term asset building and disciplined saving habits.

Local leaders rallied behind the initiative, praising its visionary structure. Suraj Alli-Balogun, the APC chairman in Lagos Island Local Government Area, lauded Coker for adopting a transformative approach to community development, describing the share distribution as a permanent and futuristic investment that beneficiaries can retain and pass down to their children. The event drew prominent regional figures, including federal lawmaker Dolapo Badru, who represents the Lagos Island I Federal Constituency in the House of Representatives, alongside other key party stakeholders.

THE ISSUES

  1. Transitioning grassroots empowerment frameworks from cash-based handouts to structured equity investments is critical for building enduring household wealth and financial inclusion.
  2. Expanding retail participation in major industrial Initial Public Offers requires targeted financial literacy training to ensure long-term investor retention and asset management.

WHAT’S BEING SAID

“Empowerment should not always mean giving somebody something that they spend the same day. Sometimes, empowerment should mean helping somebody own something that can have value tomorrow.”

  • Biodun Coker, Founder, Biodun Coker Foundation

“This is permanent and futuristic. The beneficiaries are not only taking something home today. They can gain from it in the coming years and even pass it on to their children.”

  • Suraj Alli-Balogun, APC Chairman, Lagos Island Local Government Area

WHAT’S NEXT

Beneficiaries will complete the CFG Africa financial literacy program while foundation coordinators finalize the share allocation and portfolio record-keeping procedures for the Dangote Refinery IPO.

BOTTOM LINE

The Biodun Coker Foundation has distributed N5.25 million to Lagos Island APC members to purchase Dangote Refinery IPO shares, pioneering a futuristic model of grassroots wealth creation.

BBNaija Season 11 reaches grand finale as 10 finalists battle for N160m crown

KEY POINTS

  • Big Brother Naija Season 11, themed “Show Ya Sef,” has reached its grand finale with 10 finalists competing for the ₦160 million grand prize.
  • The 24-housemate edition featured dramatic moments, including early evictions, a disqualification, and Tram’s strategic Immunity For All decision using Ultimate Veto Power.
  • Fan bases remain deeply divided among top contenders such as Nkem, Aikou, and Oyin, making the ultimate winner difficult to predict.

MAIN STORY

Big Brother Naija Season 11 has reached its climactic grand finale, with 10 remaining housemates fiercely competing for the ₦160 million grand prize and the coveted crown.

The “Show Ya Sef” edition, which premiered on July 26, 2026, with an initial lineup of 24 contestants, has delivered intense drama, strategic alliances, and unexpected twists throughout its run. Unlike previous seasons, viewer sentiment remains sharply divided, leaving the race for the title wide open as supporters mobilize across digital platforms.

The journey to the finale saw numerous dramatic departures and tactical shifts. Mercedes and Martins exited as the season’s first evictees, followed by later departures including Yusuf, Bells, and Chimsom Chuka. The tension peaked with a fake eviction and the disqualification of Victor Ikpe (Keivo) following a physical altercation with Tram.

In a game-changing twist, Barry and Tram exercised their Ultimate Veto Power, with Tram selecting Immunity For All to secure guaranteed grand finale spots for all remaining contenders. Finalists such as Temi Nkem, Joshua Alekewumu (Tram), Faith Gamde (Sheba), Keren Bantai (Bluethopia), Patrick Jumbo (Ricky), Muudumbari Pop-Yornwin (Barry), Amyr Yousufzai (Aikou), Oyindamola Oshikoya (Oyin), and Flora Egbedi now stand on the brink of victory.

Industry watchers note that strong fan engagement behind frontrunners like Nkem, Aikou, and Oyin has created one of the most unpredictable finishes in reality television history. With no consensus favorite, the ultimate victor will depend entirely on final voting power and last-minute grassroots mobilization by dedicated supporters.

THE ISSUES

  1. Managing high-stakes competition and housemate dynamics requires strict regulatory enforcement of disciplinary rules regarding physical conduct within the reality format.
  2. Harnessing fragmented fan bases through targeted digital mobilization campaigns is decisive for securing victory in highly competitive reality television finales.

WHAT’S BEING SAID

“Unlike previous editions, fans of the reality show appear divided over who deserves to emerge victorious, making this year’s finale one of the most unpredictable in the show’s history.” – Entertainment Analysts

WHAT’S NEXT

Viewers will cast final votes ahead of the live grand finale broadcast to determine which of the 10 finalists will claim the ₦160 million prize and the Season 11 crown.

BOTTOM LINE

Big Brother Naija Season 11 has entered its grand finale with 10 finalists vying for the ₦160 million prize, culminating an unpredictable season defined by intense rivalries and strategic twists.

NDLEA intercepts 4.8kg of cocaine concealed in shoes and bags at Lagos airport

KEY POINTS

  • The National Drug Law Enforcement Agency (NDLEA) arrested a 38-year-old businessman at the Murtala Muhammed International Airport in Lagos with 4.80kg of cocaine.
  • Operatives intercepted the suspect on September 27 at Terminal 2 prior to a Royal Air Maroc flight to Milan, Italy.
  • The illicit drugs were ingeniously concealed across 16 parcels hidden in eight pairs of footwear and 195 wraps tucked within the railings of four travelling bags.

MAIN STORY

Operatives of the National Drug Law Enforcement Agency (NDLEA) have apprehended a 38-year-old businessman attempting to traffic 4.80kg of cocaine through the Murtala Muhammed International Airport (MMIA) in Lagos.

The suspect was intercepted on September 27 during routine screening at the joint checkpoint of Terminal 2 as he prepared to board a Royal Air Maroc flight bound for Milan, Italy.

The arrest underscores the sophisticated concealment methods increasingly encountered by narcotics officers at international transit hubs. Upon conducting a meticulous physical inspection, NDLEA operatives discovered 16 parcels of white powdery substances concealed inside eight pairs of trainers and canvas shoes, alongside another 195 wraps hidden securely within the structural railings of four travelling bags.

Subsequent laboratory tests confirmed that the recovered materials tested positive for cocaine, scaling a combined weight of 4.80kg.

During preliminary interrogations, the suspect reportedly confessed to investigators that he paid N16 million in cash for the portion of cocaine secreted within his footwear, claiming the funds originated from workplace compensation received after losing the tips of two fingers at a plastic manufacturing firm in Italy. He further alleged that the narcotics packed inside the luggage railings were intended for delivery to an associate in Italy.

Meanwhile, NDLEA Director of Media and Advocacy Femi Babafemi emphasized that the agency’s nationwide War Against Drug Abuse (WADA) sensitisation campaigns remain ongoing across schools, workplaces, and religious institutions.

THE ISSUES

  1. Detecting sophisticated concealment techniques in footwear and luggage railings requires continuous tactical training and advanced screening technology at international border control points.
  2. Balancing aggressive interdiction operations with widespread community sensitisation initiatives remains essential to dismantling transnational drug trafficking syndicates.

WHAT’S BEING SAID

“The suspect was arrested on Sept. 27 at the joint screening point at Terminal 2 of the Lagos airport… All the recovered substances tested positive for cocaine.” – Femi Babafemi, Director of Media and Advocacy, NDLEA

WHAT’S NEXT

The NDLEA will conclude its preliminary investigations and arraign the suspect in court while intensifying anti-narcotics patrols across Nigeria’s air and land borders.

BOTTOM LINE

The NDLEA intercepted 4.80kg of cocaine concealed in shoes and luggage at the Lagos international airport, resulting in the arrest of an Italy-bound businessman.

Bitcoin hovers near $85,000 as strong seasonal trends and weak jobs report fuel crypto rally

KEY POINTS

  • Bitcoin hovered near $85,000 on Friday, largely erasing its year-to-date losses following a robust 43% gain during the third quarter—its strongest quarterly performance since 2024.
  • According to Yahoo Finance reporting, strategists point to historical October seasonality, easing bond yields, and a softer-than-expected jobs report as key bullish tailwinds for digital assets.
  • Citi analyst Alex Saunders raised his base-case bitcoin price target to $113,000, up from $82,000, as more than 75% of market participants expect the Federal Reserve to hold interest rates steady in October.

MAIN STORY

Cryptocurrencies staged a powerful rebound, with Bitcoin (BTC-USD) hovering near $85,000 on Friday as easing Treasury yields and favorable seasonal trends breathed new life into digital asset markets.

As detailed by Yahoo Finance, the world’s leading cryptocurrency erased most of its year-to-date losses following a turbulent first half of 2026, capping off its strongest quarterly performance since 2024 with a 43% surge over the preceding three months. Ether (ETH-USD) also joined the broader market advance.

Market analysts attribute the renewed bullish momentum to a convergence of macroeconomic and seasonal catalysts. Fundstrat head of digital assets Sean Farrell noted that October historically ranks as crypto’s strongest month, boasting an average win rate of roughly 80%.

Compounding this seasonal tailwind, a cooling September jobs report and shifting Federal Reserve rhetoric have tempered expectations for aggressive monetary tightening. Yahoo Finance data shows that over 75% of market participants now anticipate policymakers will maintain steady interest rates at the upcoming October meeting, bolstering demand for risk-on assets.

Furthermore, falling 2-year real yields are reducing the relative appeal of short-term government debt, providing additional structural support for bitcoin.

Despite lingering risks surrounding sovereign bond volatility and credit market stress, institutional sentiment remains highly optimistic.

Citi analyst Alex Saunders substantially upgraded his base-case bitcoin price forecast on Thursday, lifting the target to $113,000 from $82,000. While strategists warn of potential short-term pullbacks if macro bond pressures flare up, the resilient performance has reinforced confidence across the digital asset ecosystem.

THE ISSUES

  1. Navigating macroeconomic headwinds such as sovereign bond market stress requires digital assets to maintain resilience against broader fixed-income volatility.
  2. Aligning monetary policy expectations with shifting inflation metrics remains crucial for sustaining institutional capital inflows into cryptocurrency markets.

WHAT’S BEING SAID

“Seasonality is also becoming a tailwind. The setup shifted in a bullish direction the past couple of days.” – Sean Farrell, Head of Digital Assets, Fundstrat (via Yahoo Finance)

“The ‘glass half full’ perspective is that the more stress that gets priced in without breaking BTC, the better the forward risk/reward becomes.” – Sean Farrell, Head of Digital Assets, Fundstrat (via Yahoo Finance)

WHAT’S NEXT

Investors will monitor upcoming macroeconomic data releases and Federal Reserve policy communications to assess whether falling real yields and historical October seasonality will propel bitcoin toward new record highs.

BOTTOM LINE

According to Yahoo Finance reporting, Bitcoin has surged near $85,000 on the back of a robust jobs report, easing yields, and bullish October seasonal trends, prompting analysts like Citi’s Alex Saunders to raise price targets significantly.

Apple tells AT&T iPhone 18 Pro Max users to replace devices over bug

KEY POINTS

  • Apple Inc. has confirmed that a small number of AT&T Inc. customers who recently purchased the $1,299 iPhone 18 Pro Max must replace their devices due to a severe cellular service bug.
  • According to Bloomberg News reporting, the glitch prevents affected users from making calls, sending texts, or accessing mobile data unless connected to Wi-Fi.
  • While Apple has released iOS 27.0.1 and carrier updates to halt the spread, already affected devices require a physical hardware swap through Apple or AT&T.

MAIN STORY

Apple Inc. announced that a limited group of AT&T Inc. customers who upgraded to the newly released iPhone 18 Pro Max will need to swap their handsets for replacement units after a software and modem glitch caused complete losses of cellular service.

The flagship $1,299 device, which debuted two weeks ago, is Apple’s highest-end traditional handset, positioned just below its upcoming foldable iPhone Duo. Affected users have found their devices restricted to Wi-Fi connectivity, unable to place calls, send text messages, or access cellular data networks.

In a statement provided to Bloomberg News, an Apple spokesperson acknowledged the issue, stating, “We have identified an issue affecting a small number of iPhone 18 Pro Max users on the AT&T network that may cause a device to lose service and be unable to make calls.”

To prevent the bug from spreading to other users, Apple swiftly deployed a carrier-settings update and launched a new iOS software version, 27.0.1. While the carrier fix will automatically download for AT&T subscribers over the next two weeks, the tech giant advised consumers to manually check for software updates under the phone’s settings menu. However, for customers whose devices have already suffered a complete service drop, the only viable remedy is exchanging the handset for a new unit directly through Apple or AT&T.

Industry analysts noted that the vulnerability appears isolated to a specific hardware configuration. Unlike other models in the lineup, including the smaller iPhone 18 Pro, which utilizes Apple’s in-house C2 modem the US variant of the iPhone 18 Pro Max integrates a cellular modem manufactured by Qualcomm Inc. Customer reports confirm that only the 18 Pro Max running on AT&T’s network has been impacted by the bug.

THE ISSUES

  1. Managing hardware and software integration across complex mobile networks requires rigorous pre-release testing to prevent critical cellular connectivity failures in flagship devices.
  2. Executing large-scale device replacement programs for premium hardware presents significant logistical and customer service challenges for both manufacturers and telecom carriers.

WHAT’S BEING SAID

“We have identified an issue affecting a small number of iPhone 18 Pro Max users on the AT&T network that may cause a device to lose service and be unable to make calls.” – Apple Spokesperson (via Bloomberg News)

WHAT’S NEXT

AT&T and Apple will manage device replacement requests for affected consumers while monitoring the automated rollout of iOS 27.0.1 and carrier updates to ensure network stability.

BOTTOM LINE

According to Bloomberg News reporting, Apple has advised AT&T customers affected by a cellular connectivity bug on the iPhone 18 Pro Max to obtain device replacements, even as software patches are deployed to protect unaffected handsets.

Anthropic invests $100m to train AI engineers ahead of IPO

KEY POINTS

  • According to CNBC reporting, Anthropic is investing $100 million to launch the Claude Frontier Academy, aiming to train 10,000 frontier deployed engineers by the end of 2027.
  • The program will incorporate engineers from partner firms such as Accenture, Morgan Stanley, and Novo Nordisk to address a widening global shortage of specialized artificial intelligence talent.
  • The initiative coincides with preparations for Anthropic’s anticipated public market debut later this year, which could target a $2 trillion valuation following $4.6 billion in revenue last year.

MAIN STORY

Artificial intelligence developer Anthropic has announced a $100 million investment to establish an advanced training academy designed to cultivate specialized engineering talent for enterprise integration.

As reported by CNBC, the initiative, dubbed the Claude Frontier Academy aims to train 10,000 “frontier deployed engineers” sourced from the Claude Partner Network by the end of 2027. Initial cohorts will feature technical professionals from major global institutions, including Accenture, Morgan Stanley, and Novo Nordisk.

The program was developed to bridge the critical talent gap experienced by businesses attempting to deploy sophisticated artificial intelligence systems at scale. Shambhavi Shambhavi, Anthropic’s head of strategy and operations for partnerships, told CNBC that clients consistently emphasize the need for personnel who combine deep business context with advanced AI fluency.

The curriculum features an intensive simulated enterprise deployment model, followed by a medical-style residency where engineers undergo rigorous casework, assessments, and credentialing, with the first certifications expected in early 2027.

The major capital injection arrives as Anthropic undergoes rapid corporate expansion and prepares for a highly anticipated initial public offering later this year.

According to a leaked IPO prospectus cited by Reuters, the company generated nearly $4.6 billion in revenue over the past year alongside an operating loss exceeding $8 billion, with market analysts projecting a potential valuation of up to $2 trillion. Industry data underscores the urgency of the training initiative, as job postings for forward-deployed engineers and specialized AI roles have surged dramatically across financial and corporate sectors.

THE ISSUES

  1. Addressing the global shortage of enterprise-ready artificial intelligence talent requires structured, immersive training pipelines integrated directly with commercial partners.
  2. Balancing rapid operational expansion and heavy operating losses with large-scale strategic investments is a central challenge for high-growth generative AI firms approaching public markets.

WHAT’S BEING SAID

“We hear our customers and partner organizations say, we need more people who can bring together familiarity and — with the enterprise tech and business context — and combine that with the highest level of AI fluency.” – Shambhavi Shambhavi, Head of Strategy and Operations for Partnerships, Anthropic (via CNBC)

“Claude Frontier Academy trains people the way our own engineers learn, and we want those who graduate to set the standard for how AI gets built inside a business.” – Steve Corfield, Global Head of Business Development and Partnerships, Anthropic

WHAT’S NEXT

Anthropic will roll out the initial training modules for partner engineers ahead of the first cohort certifications scheduled for early 2027, while progressing toward its public market debut.

BOTTOM LINE

According to CNBC reporting, Anthropic has launched a $100 million training initiative to certify 10,000 enterprise AI engineers as the company prepares for a major public stock offering.

NGX weekly review: Investors lose N812bn as market closes lower amid shortened trading week

KEY POINTS

  • The Nigerian Exchange Ltd. (NGX) All-Share Index and market capitalization declined by 0.52 per cent and 0.50 per cent respectively, closing the shortened four-day trading week at 250,808.27 points and N162.843 trillion.
  • Investors recorded a total capital loss of N812 billion for the week, which included a public holiday declared for Nigeria’s Independence Day celebrations.
  • Total turnover dropped to 3.166 billion shares valued at N155.023 billion across 206,662 transactions, with the Financial Services industry leading activity charts.

MAIN STORY

The Nigerian equities market concluded the week on a bearish trajectory, with key performance indicators retreating due to profit-taking and cautious investor sentiment during a shortened four-day trading week.

The Federal Government declared Thursday a public holiday to commemorate Nigeria’s Independence Day, reducing active trading sessions. Consequently, the NGX All-Share Index dipped 0.52 per cent to close at 250,808.27 points, while market capitalization shed 0.50 per cent to settle at N162.843 trillion, down from the previous week’s close of 252,113.41 points and N163.655 trillion. Overall, investors lost N812 billion in market value over the review period.

Sectoral performance was largely negative, though select segments managed positive closures. The NGX Main Board, Insurance, Oil & Gas, and Growth indices bucked the broader downward trend, appreciating by 0.08 per cent, 0.61 per cent, 0.05 per cent, and 1.85 per cent respectively, while the NGX Commodity index remained flat.

Market breadth reflected growing caution as 44 equities appreciated in price, down from 61 the previous week, while 37 equities depreciated and 65 remained unchanged. Sovereign Trust, Etranzact, Learn Africa, PZ Cussons, and Fortis Global Insurance led the losers’ chart, whereas ABC Transport, Critical Minerals Financing Corp, Livingtrust Mortgage Bank, VFD Group, and Computer Warehouse Group emerged as the top weekly gainers.

Trading activity slowed relative to the preceding week, recording a total turnover of 3.166 billion shares worth N155.023 billion in 206,662 deals, compared to 4.689 billion shares valued at N240.824 billion across 261,198 transactions previously.

The Financial Services Industry dominated activity, accounting for 1.944 billion shares valued at N77.733 billion in 92,035 deals, representing 61.41 per cent of total volume and 50.14 per cent of total value. Transactions in the top three equities: Fidelity Bank Plc, VFD Group Plc, and Access Holdings Plc—contributed 42.42 per cent to total equity volume.

Meanwhile, the exchange noted new equity and bond listings during the week, including additional ordinary shares for Guinea Insurance, Regency Alliance Insurance, and The Initiates Plc, alongside September Federal Government bond issues.

THE ISSUES

  1. Managing portfolio volatility during shortened holiday weeks requires careful liquidity management and strategic sector rotation among institutional investors.
  2. Sustaining primary market activities through new share listings and federal bond issuances helps deepen capital market liquidity despite short-term index pullbacks.

WHAT’S NEXT

Market participants will monitor early-week trading volumes and corporate developments to assess whether bargain-hunting will emerge following the recent N812 billion market capitalization loss.

BOTTOM LINE

Nigerian equities suffered a weekly decline resulting in an N812 billion loss for investors, as a shortened trading week driven by Independence Day holidays weighed on broader index performance.

Elon Musk’s net worth surges by $61bn as SpaceX and Tesla shares rally toward trillion-dollar milestone

Elon Musk To Step Down As Twitter CEO, Here's Why

KEY POINTS

  • Elon Musk’s net worth increased by $61 billion on Friday, reaching $979.7 billion and pushing his fortune back toward the $1 trillion mark.
  • The surge was driven by strong market rallies across his key enterprises, with SpaceX shares rising over 7% following a series of successful launches and Tesla stock climbing roughly 5% after beating third-quarter delivery expectations.
  • Musk maintains a commanding lead on the Forbes Real-Time Billionaires list, sitting $600.5 billion ahead of second-place Jeff Bezos, whose net worth stands at $370.7 billion.

MAIN STORY

Billionaire entrepreneur Elon Musk experienced a massive financial rebound on Friday, adding $61 billion to his fortune in a single day as shares in both SpaceX and Tesla rallied significantly.

According to the Forbes Real-Time Billionaires list, Musk’s estimated net worth climbed to $979.7 billion, representing a 6.64% increase from Thursday and bringing him within striking distance of reclaiming a permanent trillion-dollar valuation.

The surge was anchored by strong operational and market momentum across Musk’s corporate portfolio. SpaceX shares advanced over 7% to trade at $158.84 following an intensive 24-hour window of successful missions, including human spaceflight deployments to the International Space Station and experimental orbital artificial intelligence tests.

Simultaneously, Tesla stock gained around 5% to trade at $371.32 after the electric vehicle manufacturer announced robust third-quarter deliveries totaling 486,532 vehicles. The delivery figures comfortably surpassed analyst projections, bolstering investor sentiment and alleviating concerns over consecutive annual declines.

Musk continues to dominate the global wealth rankings, holding the No. 1 spot comfortably ahead of Amazon founder Jeff Bezos, who occupies second place with an estimated net worth of $370.7 billion. Market analysts note that while Musk previously crossed the $1 trillion threshold following SpaceX’s public debut earlier in the year, subsequent market volatility has caused his net worth to fluctuate around the milestone.

THE ISSUES

  1. Managing extreme equity volatility in high-valuation technology and aerospace ventures creates rapid fluctuations in executive net worth metrics.
  2. Aligning production milestones and quarterly delivery targets remains vital for sustaining investor confidence in high-growth electric vehicle and space infrastructure markets.

WHAT’S BEING SAID

“Elon Musk’s net worth was at $979.7 billion as of 2:15 p.m. on Friday, a 6.64% hike from Thursday, according to the Forbes Real-Time Billionaires list.” – Forbes Real-Time Billionaires List

WHAT’S NEXT

Market observers will monitor upcoming quarterly earnings reports and further launch schedules for SpaceX and Tesla to determine whether Musk’s fortune will permanently surpass the $1 trillion mark.

BOTTOM LINE

Elon Musk’s net worth jumped by $61 billion on Friday to $979.7 billion, fueled by a powerful stock rally across SpaceX and Tesla that brought the world’s richest individual back to the doorstep of a trillion-dollar fortune.

SpaceX stock rises following successful ISS crew launch and Google satellite deployment

KEY POINTS

  • SpaceX shares rose 7.35 per cent to close at $158.96 on Friday following a series of milestone space missions, including a successful human spaceflight to the International Space Station.
  • The company launched NASA’s Crew-13 mission from Florida and successfully deployed Google’s Project Suncatcher satellite prototype to test orbital artificial intelligence computing.
  • SpaceX also achieved a major technical milestone earlier in the week by placing its Starship rocket into Earth orbit for the first time and deploying 26 Starlink V3 satellites.

MAIN STORY

SpaceX shares surged on Friday, climbing 7.35 per cent to close at $158.96 following an extraordinary week of successful rocket launches and orbital deployments.

Elon Musk’s aerospace company successfully transported four astronauts to the International Space Station on Thursday, lifting NASA’s Crew-13 mission aloft from the Cape Canaveral Space Force Station in Florida aboard a Falcon 9 rocket and Dragon spacecraft.

Concurrently, Thursday’s SpaceX Transporter-18 rideshare mission delivered Google’s Project Suncatcher into orbit. The experimental moonshot satellite prototype is designed to evaluate how Google’s tensor processing units (TPUs) handle the physical rigors of spaceflight, radiation, and thermal extremes to determine the feasibility of large-scale artificial intelligence computing in orbit.

These achievements followed another historic milestone earlier in the week when SpaceX successfully placed its massive Starship rocket into Earth orbit for the first time, deploying 26 Starlink V3 satellites despite losing a single engine during ascent.

Reflecting on the busy operational window, SpaceX Senior Vice President of Falcon and Dragon Jon Edwards highlighted the company’s full-spectrum vehicle deployment.

With active flights across Starship, Dragon, Falcon 9, and Falcon Heavy, executives emphasized that the week demonstrated the immense commercial value of rocket reusability and disciplined execution in expanding satellite network capacity.

THE ISSUES

  1. Scaling orbital infrastructure and frequent launch cadences require rigorous technical reliability across diverse heavy-lift and crewed vehicle platforms.
  2. Integrating advanced artificial intelligence hardware into orbital spacecraft opens new avenues for in-space data processing but demands extensive stress testing against space radiation and thermal extremes.

WHAT’S BEING SAID

“What an extraordinary week for SpaceX! We launched our quiver of space vehicles: Starship, Dragon, Falcon 9, and Falcon Heavy. This week is a powerful reminder of what rocket reusability unlocks.”

  • Jon Edwards, Senior Vice President of Falcon and Dragon, SpaceX

“The test is designed to gather in-orbit data on how our TPUs handle the physical stress of spaceflight and the radiation and thermal extremes of space.”

  • Google, Corporate Blog Post

WHAT’S NEXT

Google will analyze telemetry and performance data from Project Suncatcher in orbit, while SpaceX continues scaling its Starlink network capacity and preparing future flight schedules.

BOTTOM LINE

SpaceX stock climbed following a successful week featuring a crewed NASA flight to the International Space Station, the orbital deployment of Google’s artificial intelligence satellite, and the first successful Earth orbit of its Starship rocket.

Nollywood actress Chioma Chukwuka-Akpotha announces death of beloved father

KEY POINTS

  • Renowned Nollywood actress Chioma Chukwuka-Akpotha has announced the passing of her father, Mr Leonard Chukwuka.
  • The loss leaves the acclaimed filmmaker an orphan, having previously lost her mother, Mrs Grace Chukwuka, 13 years ago.
  • Funeral arrangements will be announced by the family at a later date as they request privacy and prayers during this period of grief.

MAIN STORY

Veteran Nollywood actress, director, and producer Chioma Chukwuka-Akpotha is mourning the loss of her beloved father, Mr Leonard Ndukaife Chukwuka.

The celebrated screen icon shared the emotional news across her official social media platforms, expressing deep grief and noting the profound heartbreak of losing her remaining parent thirteen years after the passing of her mother, Mrs Grace Chukwuka.

In an emotional tribute, Chukwuka-Akpotha reflected on the cherished moments shared with her father, stating that no matter how many years individuals are granted with their parents, the desire for one more conversation or embrace always remains.

She explained that she initially kept the news private while attempting to process the immense personal loss, while appealing to fans, colleagues, and the public to keep her siblings and the entire Chukwuka family in their thoughts and prayers.

With a career spanning over two decades and hundreds of film credits, Chukwuka-Akpotha stands as one of Nollywood’s most respected talents and mentors. The family has indicated that formal funeral arrangements and celebratory memorial schedules will be communicated to the public once final family consultations are concluded.

THE ISSUES

  1. Coping with the loss of both parents presents a profound emotional challenge for public figures navigating personal grief while maintaining active professional careers.
  2. Managing public announcements and privacy boundaries during familial bereavements requires sensitive media handling by entertainment industry figures.

WHAT’S BEING SAID

“My beloved father, Leonard Ndukaife Chukwuka, has gone to be with the Lord. I lost my mother 13 years ago and now that my father is gone, the thought that I have neither parent here anymore breaks my heart in a way I cannot fully explain.”

  • Chioma Chukwuka-Akpotha, Actress and Filmmaker

WHAT’S NEXT

The Chukwuka family will release further details regarding the funeral rites and memorial service arrangements for the late Mr Leonard Chukwuka in due course.

BOTTOM LINE

Celebrated Nollywood actress Chioma Chukwuka-Akpotha has announced the passing of her father, Mr Leonard Chukwuka, drawing heartfelt condolences from fans and colleagues across the entertainment industry.

Faith-based remake “Agbara Nla: The Return” makes N71m at cinema debut

KEY POINTS

  • Faith-based feature film “Agbara Nla: The Return,” a collaborative remake of the 1993 classic, grossed over ₦71 million to secure the number one spot at the Nigerian box office.
  • Co-directed by Damilola Bamiloye and Joshua Bamiloye, the production by Mount Zion Film Productions, Sozo Films, and Circuits achieved the biggest first-day gross for a Nollywood title in history.
  • The release shattered multiple regional records, including the largest single-day preview gross in West Africa and the highest preview admissions for 2026.

MAIN STORY

The highly anticipated faith-based film “Agbara Nla: The Return” a modern remake of the 1993 classic “Agbara Nla” (also known as “The Ultimate Power”) has shattered Nigerian box office records by grossing over ₦71 million and emerging as the top-performing film of the week.

Released across cinemas on October 1, the collaborative project from Mount Zion Film Productions, Sozo Films, and Circuits has captured massive public attention and redefined commercial benchmarks for faith-based cinema in West Africa.

Co-director Damilola Mike-Bamiloye shared the milestone on social media, expressing profound gratitude for the journey from pre-production to distribution.

The film’s historic box office run achieved numerous milestones, including the biggest single-day preview gross in West African history, the biggest first-day gross for any Nollywood title, the largest single-day gross for October, the biggest faith-based opener of all time, and record-breaking preview admissions exceeding 12,100 ticket sales for 2026.

Powered by intense community mobilization and strong digital engagement, the project has stunned industry analysts and resonated deeply with audiences across the region.

The remake revisits the iconic spiritual warfare storyline of the original 1993 hit, which famously explored the eternal battle between good and evil, occult practices, and the triumph of faith, prayer, and obedience.

Directed by Damilola Bamiloye and Joshua Bamiloye, the feature boasts a stellar cast featuring Philip Olubakin as Olaboye, Damilola Bamiloye as Kola, Aanu Kolade-Abiodun as Bose, and veteran evangelist Mike Bamiloye reprising his famous role as Isawuru. Industry observers are closely tracking the film’s trajectory as it maintains strong momentum in its opening week.

THE ISSUES

  1. Demonstrating robust commercial viability for faith-based cinema highlights the immense untapped market potential for values-driven storytelling within the African entertainment sector.
  2. Managing large-scale theatrical distributions across major West African cinema circuits requires synchronized marketing and community engagement strategies to maximize box office returns.

WHAT’S BEING SAID

“LORD! WE GIVE YOU THE GLORY!!! What began as a vision has become a reality, and we know that God alone made it possible… THANK YOU NIGERIA. NUMBER 1 MOVIE OF THE WEEK.” – Damilola Mike-Bamiloye, Co-Director

WHAT’S NEXT

The production team will monitor ongoing theatrical distributions across major cinema chains as the film looks to extend its record-breaking box office run into subsequent weeks.

BOTTOM LINE

“Agbara Nla: The Return” has shattered West African box office records with a staggering ₦71 million debut, establishing a historic milestone for faith-based Nollywood releases.

WHO reports global life expectancy rebounds to 73.3 years as noncommunicable diseases dominate mortality

KEY POINTS

  • The World Health Organisation’s latest Global Health Estimates show global life expectancy rebounded to 73.3 years in 2023, nearing pre-pandemic levels.
  • Noncommunicable diseases accounted for 74 per cent of all global deaths in 2023, up from 58 per cent in 2000, with dementia deaths tripling over the period.
  • Cardiovascular conditions and chronic respiratory diseases remain leading drivers of global mortality, with the top 10 causes accounting for 33 million of the 61 million deaths recorded in 2023.

MAIN STORY

Global life expectancy rebounded to 73.3 years in 2023, recovering closer to pre-pandemic benchmarks, according to the latest Global Health Estimates released by the World Health Organisation (WHO) on Friday.

Despite the overall recovery in longevity, the health agency noted that healthy life expectancy still lags behind 2019 levels, reflecting enduring post-pandemic health challenges.

The comprehensive data tracking trends between 2000 and 2023 reveals a profound shift in global disease burdens. Noncommunicable diseases (NCDs) drove 74 per cent of all deaths worldwide in 2023, a significant increase from 58 per cent in 2000.

Among specific conditions, dementia-related deaths tripled, while health loss linked to anxiety and depression surged significantly in the wake of the COVID-19 pandemic. Out of 61 million total deaths recorded globally in 2023, the top 10 causes accounted for 33 million fatalities, with NCDs occupying eight of those top positions.

Cardiovascular complications including ischaemic heart disease and stroke, alongside chronic obstructive pulmonary disease and lower respiratory infections remain the primary contributors to global mortality.

The WHO stated that the newly released estimates are accessible via interactive visual summaries and the Global Health Observatory, allowing researchers and policymakers to analyze trends broken down by country, year, age, sex, and national income groups. Complete datasets have also been published for deeper epidemiological research and public health planning.

THE ISSUES

  1. Managing the escalating burden of noncommunicable diseases requires robust healthcare systems equipped for long-term chronic care and mental health intervention.
  2. Aligning overall life expectancy gains with improvements in healthy life expectancy remains a critical challenge for global health policymakers.

WHAT’S BEING SAID

“The estimates show noncommunicable diseases accounted for 74 per cent of all deaths globally in 2023, rising from 58 per cent in 2000.”

  • World Health Organisation (WHO)

WHAT’S NEXT

Public health institutions and researchers will utilize the updated WHO datasets to evaluate regional health trajectories and refine targeted disease prevention strategies.

BOTTOM LINE

The World Health Organisation reports that global life expectancy recovered to 73.3 years in 2023, even as noncommunicable diseases and mental health challenges increasingly dominate worldwide mortality and disease burdens.

Dangote Group urges stronger domestic production and export expansion to build economic resilience

KEY POINTS

  • Dangote Group has called on Nigeria to prioritize domestic production, curb import dependence, and expand exports to fortify economic resilience and competitiveness.
  • Speaking at the 21st Abuja International Trade Fair, Regional Director Hajia Fatima Wali-Abdurrahman highlighted the group’s strategic vision to scale its enterprise value to $100 billion by 2030.
  • Abuja Chamber of Commerce and Industry leaders commended Dangote’s massive industrial footprint across cement, agriculture, refining, and petrochemical sectors.

MAIN STORY

The Dangote Group has emphasized the critical need for Nigeria to strengthen domestic manufacturing, diminish reliance on foreign imports, and scale up export capacities to navigate current macroeconomic challenges.

Speaking on Friday during the group’s special day at the 21st Abuja International Trade Fair, Regional Director Hajia Fatima Wali-Abdurrahman noted that achieving true economic resilience requires expanding productive capacity and robust local supply chains.

Represented by Group General Manager Mr Abdullahi Dan-Musa, Wali-Abdurrahman acknowledged that businesses continue to grapple with inflationary pressures, foreign exchange adjustments, shifting tax frameworks, and global trade disruptions.

Despite these hurdles, she underscored the group’s commitment to job creation and industrial development through multi-sector investments spanning cement, sugar, salt, fertilizers, and petrochemicals. She pointed to Dangote Cement’s success in turning Nigeria from a net importer into a major exporter, alongside the ongoing Pan-African industrial expansion exemplified by refinery projects in Kenya.

Addressing the macro-environment, Wali-Abdurrahman noted that while taxation remains essential for financing public infrastructure and social services, regulatory bodies must foster a predictable, transparent, and efficient tax climate that encourages compliance without stifling capital investment.

Highlighting the flagship Dangote Petroleum Refinery, she reiterated that its current 700,000 barrels per day capacity with future expansions targeting 1.4 million barrels will secure domestic energy needs, preserve foreign exchange, and build localized technical expertise. Looking ahead, she outlined the group’s Vision 2030 to evolve into a $100 billion enterprise through aggressive industrial scaling across the continent.

Responding to the address, Prof. Adesoji Adesugba, First Deputy President of the Abuja Chamber of Commerce and Industry (ACCI)—representing ACCI President Chief Emeka Obegolu—praised Dangote’s enduring partnership with the chamber.

He remarked that the annual trade fair serves as a vital marketplace connecting investors and entrepreneurs, while commending Dangote’s sprawling industrial investments for demonstrating the tangible power of domestic production in reducing import dependency and driving employment.

THE ISSUES

  1. Overcoming macroeconomic headwinds such as inflation and foreign exchange volatility requires targeted industrial policies that support local manufacturing and supply chain integration.
  2. Balancing state revenue mobilization through taxation with a predictable and business-friendly regulatory framework is vital for sustaining long-term private sector investment.

WHAT’S BEING SAID

“Economic resilience goes beyond withstanding difficulties to include adapting, innovating and continuing to invest in the future. Dangote Group remains committed to building productive capacity across Nigeria and Africa.” – Hajia Fatima Wali-Abdurrahman, Regional Director, Dangote Group

“Dangote’s investments in cement, fertiliser, agriculture, refining and petrochemicals demonstrated the importance of domestic productive capacity and supported employment creation.” – Prof. Adesoji Adesugba, First Deputy President, ACCI

WHAT’S NEXT

Industrial stakeholders and policymakers will evaluate framework adjustments to improve the ease of doing business and support large-scale manufacturing expansion across Nigeria.

BOTTOM LINE

Dangote Group has advocated for deeper industrial self-reliance and export-driven growth at the Abuja International Trade Fair, outlining its path toward a $100 billion valuation by 2030.

NEC approves N185bn to clear legacy gas debts as OB3 pipeline reaches completion

KEY POINTS

  • The National Economic Council has approved N185 billion to clear validated legacy debts owed to upstream gas producers, aiming to improve supply reliability to power plants.
  • Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, announced that the OB3 Gas Pipeline is fully completed with a daily capacity of two billion cubic feet.
  • Federal initiatives have expanded Compressed Natural Gas conversions to over 120,000 vehicles, supporting broader targets to achieve one million conversions nationwide.

MAIN STORY

The Federal Government has announced that the National Economic Council (NEC) has approved N185 billion to settle validated legacy debts owed to upstream gas producers.

Speaking at a press conference in Abuja on Friday, the Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, stated that clearing the outstanding liabilities is designed to restore commercial discipline, enhance gas supply reliability to power generation plants, and bolster investor confidence across the energy sector.

Detailing key infrastructure milestones, Dr Ekperikpe Ekpo reported that the OB3 Gas Pipeline is 100 per cent complete with pre-commissioning concluded, boasting a capacity to transport two billion cubic feet of gas daily and unlock over 500 million standard cubic feet of domestic supply per day.

Additionally, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline has reached approximately 95 per cent completion. The minister noted that the Midstream and Downstream Gas Infrastructure Fund, backed by N671 billion in public funding, has successfully catalyzed N1.6 trillion in private investments across 31 projects and 205 assets.

The administration has maintained its broader strategic roadmap targeting $30 billion in gas investments by 2030, alongside sweeping clean-energy transitions. Compressed Natural Gas (CNG) vehicle conversions have surged from roughly 11,000 in 2023 to more than 120,000, with an ultimate target of one million converted vehicles and 1,000 refuelling stations.

Furthermore, government initiatives to expand Liquefied Petroleum Gas (LPG) access to five million households by 2030 are underway, supported by the ongoing distribution of 27,000 free gas cylinders per state and the extension of the National Grassroots LPG Penetration Programme to 2060.

To curb environmental degradation, 42 companies have been awarded contracts to harness flare gas, reinforcing Nigeria’s commitment to ending routine gas flaring by 2030.

THE ISSUES

  1. Clearing legacy debts within the gas-to-power value chain is vital for resolving persistent electricity generation bottlenecks and securing long-term investor participation.
  2. Expanding domestic gas infrastructure requires synchronizing large-scale pipeline completions with localized distribution frameworks for clean cooking and transport fuel.

WHAT’S BEING SAID

“This is not merely about settling debt. It is about restoring commercial discipline, improving supply reliability and rebuilding investor confidence.”

  • Dr Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas)

WHAT’S NEXT

The Federal Government will oversee the disbursement of the approved funds to upstream producers while advancing final integration work on major domestic gas pipeline corridors.

BOTTOM LINE

The National Economic Council has greenlit N185 billion to resolve legacy gas sector debts, complementing major infrastructure milestones like the completion of the OB3 pipeline to boost domestic energy supply.

Nigerian equities market closes bearish as investors lose N262bn

NGX Records N60bn Trading

KEY POINTS

  • The Nigerian equities market closed Friday’s trading session on a bearish note, with market capitalization declining by 0.16 per cent to settle at N162.842 trillion.
  • Investors lost N262 billion as profit-taking across 26 equities pulled the All-Share Index down by 403.40 points to close at 250,808.27.
  • Access Holdings Plc dominated trading activity, accounting for 32.95 per cent of total volume and 20.01 per cent of total value exchanged.

MAIN STORY

The Nigerian exchange concluded Friday’s trading session in negative territory as widespread profit-taking eroded N262 billion from investor wealth.

The market capitalization dropped from N163.104 trillion to N162.842 trillion, marking a 0.16 per cent decline. Concurrently, the All-Share Index (ASI) retreated by 0.16 per cent, falling 403.40 points from 251,211.67 to close at 250,808.27. The downturn trimmed the market’s Year-To-Date (YTD) return to 61.17 per cent.

Market breadth remained balanced as 26 equities appreciated while an equal number of 26 stocks registered price depreciation. PZ led the losers’ cohort with a 9.91 per cent drop to close at N66.40 per share, followed by Etranzact, which declined by 9.84 per cent to N11. Zichis Agro Allied Industries shed 8.29 per cent to settle at N18.25, FTN Cocoa Processors fell 8.19 per cent to N7.62, and Royal Exchange lost 7.83 per cent to close at N1.06.

On the other hand, AIICO Insurance and Trans-Nationwide Express topped the gainers’ chart, each appreciating by 10 per cent to close at N4.18 and N2.97 respectively. Livestock Feeds added 9.88 per cent to reach N8.90, Livingtrust Mortgage Bank gained 9.87 per cent to finish at N3.45, and ABC Transport advanced 9.63 per cent to N7.40 per share.

Trading activity softened slightly during the session, with total volume decreasing by 0.16 per cent as investors exchanged 557.15 million shares valued at N27.57 billion across 53,450 deals.

Access Holdings Plc emerged as the most active stock by both volume and value, trading 183.56 million shares worth N5.52 billion, which accounted for roughly 32.95 per cent of total volume and 20.01 per cent of total traded value.

THE ISSUES

  1. Sustained profit-taking phases in high-cap and mid-cap equities can introduce short-term volatility following extended periods of strong market rallies.
  2. Maintaining balanced market breadth amidst declining index points reflects selective sector rotation by investors navigating portfolio rebalancing.

WHAT’S NEXT

Market participants will monitor early-week trading volumes and institutional positioning to determine whether the bearish momentum will persist or give way to bargain hunting.

BOTTOM LINE

The Nigerian equities market recorded a N262 billion loss on Friday as profit-taking activities pushed major indices downward, offsetting gains across select banking and insurance counters.

WAEC appoints Nigerian National Office head Dr Amos Dangut as new Registrar and CEO

KEY POINTS

  • The West African Examinations Council has appointed Dr Amos Dangut as its new Registrar and Chief Executive Officer for a five-year term spanning October 2026 to September 2031.
  • Dr Dangut, who previously served as the Head of WAEC’s Nigerian National Office, succeeds Alhaji Pateh Bah of The Gambia.
  • During his tenure in Nigeria, he championed major digital innovations, including the rollout of Computer-Based WASSCE tests, question paper serialization, and digital marking systems.

MAIN STORY

The West African Examinations Council (WAEC) has announced the appointment of Dr Amos Dangut as its new Registrar and Chief Executive Officer.

Damianus Ojijeogu, Head of Public Affairs at WAEC Headquarters in Accra, Ghana, confirmed in a statement on Friday that Dr Dangut will serve a five-year term running from October 2026 through September 2031, succeeding outgoing Registrar Alhaji Pateh Bah from The Gambia.

Dr Dangut brings extensive administrative and academic experience to the regional role. Born on October 2, 1967, his academic credentials include a Bachelor of Agriculture in Animal Production, a Master of Science and a Doctor of Philosophy in Animal Science, alongside a Master of Education in Administration and Planning. After beginning his career in education in 1994, he joined WAEC in 1998, serving in various senior administrative capacities before assuming the role of Head of the Nigerian National Office on October 2, 2023. His appointment as regional Registrar was ratified by WAEC’s International Governing Board during its 74th Annual Meeting in Accra.

While leading the Nigerian office, Dr Dangut introduced several critical technology-driven reforms aimed at enhancing examination security, integrity, and operational efficiency. His notable initiatives included implementing the Computer-Based West African Senior School Certificate Examination (WASSCE), introducing question paper serialization, launching a Digital Electronic Marking System, and establishing the Digital Certificate Portal alongside electronic study platforms and records archives. He has also represented the council on national educational bodies including JAMB, NERDC, and JUPEB, and currently serves as the West African Sub-region’s Regional Representative on the Executive Board of the Association for Educational Assessment in Africa.

THE ISSUES

  1. Transitioning large-scale regional examinations toward computerized delivery and digital security frameworks requires sustained institutional investment and robust infrastructural backing.
  2. Managing educational assessment standards across diverse member states demands experienced leadership capable of harmonizing regional policy and technological adoption.

WHAT’S BEING SAID

“As Head of the National Office, Dangut championed innovations aimed at strengthening examination delivery, security, integrity and efficiency.”

  • Damianus Ojijeogu, Head of Public Affairs, WAEC Headquarters

WHAT’S NEXT

Dr Dangut will assume his responsibilities as Registrar and CEO, overseeing regional examination bodies, digital testing transitions, and council operations across WAEC member countries.

BOTTOM LINE

WAEC has appointed Dr Amos Dangut as its new Registrar and CEO, elevating the former Nigerian National Office head to lead regional examination management following a tenure marked by extensive digital reforms.