Nigerian equities market gained N3.16 trillion in one trading session.
Market capitalisation rose above N160 trillion for the first time.
Banking and industrial stocks drove strong investor demand.
The NGX All-Share Index advanced by over 5,700 points.
Main Story
The Nigerian equities market extended its bullish momentum on Monday as investors gained N3.162 trillion, pushing the Nigerian Exchange market capitalisation above N160 trillion.
Market capitalisation increased by 2.01 per cent to close at N160.256 trillion, compared with N157.094 trillion recorded in the previous trading session.
The NGX All-Share Index also climbed by 5,709.71 basis points to settle at 250,485.54, reflecting broad-based buying interest across major sectors of the market.
Investor sentiment remained firmly positive, with 59 stocks advancing against 21 decliners during the trading session.
Banking and industrial goods stocks led the rally as investors reacted positively to corporate earnings releases and improving market liquidity.
Major gainers included CHAMS, FTN Cocoa Processors, International Energy Insurance, Livestock Feeds and RT Briscoe, all of which recorded the maximum daily gain of 10 per cent.
Sectoral performance was largely positive. The Banking Index rose by 4.67 per cent, while the Industrial Goods Index advanced by 4.32 per cent.
The Consumer Goods, Insurance and Oil & Gas indices also closed in positive territory, supported by gains in GTCO, Dangote Cement, Nigerian Breweries, AIICO Insurance and Eterna.
On the downside, Prestige Assurance, Sovereign Trust Insurance, University Press, Ellah Lakes and Tantalizers recorded losses.
Trading activity strengthened considerably, with investors exchanging 1.49 billion shares valued at N68.45 billion across 94,834 deals.
Veritas Kapital emerged as the most traded stock by volume after accounting for over 194 million shares traded, while MTN Nigeria led the market by value with transactions worth N12.39 billion.
Analysts attributed the sustained rally to improving investor confidence, stronger liquidity conditions and expectations of better macroeconomic performance.
What’s Being Said
Vice President of Highcap Securities, David Adonri, said improved liquidity and stronger confidence in the economy were supporting demand for equities.
“Renewed confidence, better macroeconomic conditions and stronger liquidity supported demand across major sectors,” Adonri said.
He added that investors were increasingly recognising MTN Nigeria as a strong local investment despite previous negative sentiment surrounding the company.
“Elevated crude prices, improved energy supply and stable conditions are supporting market sentiment,” he added.
What’s Next
Market analysts expect investor attention to remain focused on corporate earnings releases, inflation data and monetary policy developments.
Banking stocks are likely to continue attracting interest as investors assess earnings performance and dividend prospects.
Analysts also believe sustained liquidity in the financial system could continue driving funds into equities if macroeconomic conditions remain relatively stable.
Bottom Line
The Nigerian stock market’s climb above N160 trillion highlights renewed investor optimism and strong liquidity conditions. With banking and industrial stocks leading gains, market momentum could remain positive if earnings performance and economic indicators continue improving.
Nigerian musicians are increasingly adopting artificial intelligence tools to produce music, reduce studio costs, and simplify creative processes.
AI-powered platforms such as Suno AI, AIVA, and Boomy are reshaping music production workflows.
Industry stakeholders are calling for clearer regulations on AI-generated music, ownership rights, and royalty structures in Nigeria.
MAIN STORY
Nigerian musicians are increasingly embracing artificial intelligence technologies to produce music and lower production costs, as AI tools continue to transform creative workflows across the country’s entertainment industry.
Industry experts say artistes are now using AI-powered platforms such as Suno AI, AIVA, and Boomy to generate beats, compose melodies, and develop song structures — tasks that traditionally required expensive studio sessions, producers, and large technical teams.
The growing adoption of AI is also creating opportunities for emerging artistes who previously struggled with the high costs associated with music production and studio access.
Among the platforms entering the African market is Korin AI, a Nigerian-founded platform designed to generate music in Nigerian and other African languages.
Founder of Korin AI, Olajide-Philips, said the platform was developed to address accessibility challenges facing many upcoming artistes across Africa.
“About 75 per cent of upcoming artists in Africa simply can’t afford top studios,” he said.
“You can be very talented, but if your production quality is low, people won’t listen. Why can’t we have a virtual African studio that anyone can access?” he added.
Olajide-Philips explained that AI technology was not intended to replace human creativity but rather to lower entry barriers for talented artistes with limited financial resources.
“AI has come to stay, and there is nothing that is going to change that. AI is not taking anybody’s job, but the job of those who are afraid of AI will be taken by those trained to use these tools,” he said.
Nigerian artiste Ayo Jay has also reportedly experimented with AI software to blend traditional African sounds with contemporary music styles, highlighting the technology’s potential for preserving cultural identity while encouraging innovation.
Beyond music production, AI tools are increasingly being used by Nigerian content creators for video editing, graphics design, scheduling, and digital content management as internet penetration continues to rise across the country.
According to reports, more than 107 million Nigerians are currently connected online, further expanding the digital ecosystem supporting entertainment and content creation industries.
A Lagos-based music technology consultant, Emeka Okafor, said the industry was approaching a major technological turning point.
“The artistes who will dominate the next decade are those learning to work with AI now, not against it.
“In Nigeria, where studio access has always been a bottleneck, AI is the most democratising force the music industry has ever seen,” Okafor said.
Meanwhile, stakeholders are urging the Nigerian Copyright Commission to develop comprehensive guidelines governing AI-generated music, ownership rights, copyright protection, and royalty distribution frameworks.
THE ISSUES
The increasing use of AI in music production is reshaping Nigeria’s entertainment industry by reducing production costs and improving access to creative tools for independent artistes.
However, experts warn that the rapid growth of AI-generated content raises concerns over copyright ownership, originality, intellectual property rights, and fair compensation for human creators.
There are also fears that overreliance on AI-generated music could affect artistic authenticity and reduce demand for traditional studio professionals if regulatory frameworks are not properly developed.
At the same time, advocates argue that AI can democratise music production, particularly in developing countries where access to expensive equipment and professional studios remains limited.
WHAT’S BEING SAID
Industry players say AI technology is helping to level the playing field for emerging Nigerian artistes by providing affordable access to music production tools.
Technology experts also believe AI could accelerate the global reach of Afrobeat and African music by enabling faster content production and experimentation with diverse sounds and languages.
Stakeholders, however, stress the need for clear legal frameworks to protect creators and define ownership rights for AI-assisted works.
WHAT’S NEXT
The Nigerian entertainment industry is expected to witness wider adoption of AI-powered creative tools as digital technology becomes more integrated into music production and content creation.
Regulatory agencies, including the Nigerian Copyright Commission, may also face increasing pressure to establish policies guiding AI-generated works and royalty systems.
Industry observers predict that future success in music production will increasingly depend on how effectively artistes combine human creativity with emerging AI technologies.
BOTTOM LINE
Artificial intelligence is rapidly transforming Nigeria’s music industry by making production more accessible, affordable, and technologically driven. While the technology presents new opportunities for creativity and global expansion, stakeholders say balancing innovation with copyright protection and artistic authenticity will be critical to the industry’s future growth.
The Federal Government says the National Regional Development Policy (NRDP) 2026–2030 is aimed at addressing regional disparities and developmental imbalances across Nigeria.
The policy focuses on inclusive growth, infrastructure development, climate adaptation, and improved coordination among regions and institutions.
Stakeholders, including the United Nations Development Programme and South East Development Commission, have expressed support for the initiative.
MAIN STORY
The Federal Government has reaffirmed its commitment to tackling persistent regional inequalities and developmental gaps through the proposed National Regional Development Policy (NRDP) 2026–2030 framework.
The Permanent Secretary of the Federal Ministry of Regional Development, Mary Ogbe, disclosed this on Monday during the Regional Technical Validation Workshop for the NRDP 2026–2030 held in Enugu.
Ogbe described the workshop as an important platform for stakeholders to reflect on and validate the draft policy document, which she said represents the aspirations of millions of Nigerians across the country’s geopolitical zones.
According to her, Nigeria’s development landscape has long been characterised by structural disparities in infrastructure, access to economic opportunities, human capital development, and quality public services across different states and regions.
“These disparities are not merely statistical observations; they are realities that affect the dignity, livelihoods, and futures of our citizens,” she said.
Ogbe explained that the National Regional Development Policy 2026–2030 was designed as a strategic response to these long-standing challenges.
“The policy is a blueprint designed to promote balanced, inclusive, and sustainable development across all regions of our federation.
“It sets out clear pillars, enabling frameworks, financing mechanisms, and institutional coordination structures that, if faithfully implemented, will transform the trajectory of development across Nigeria,” she stated.
The permanent secretary added that the draft policy document was developed through extensive consultations involving state governments, technical agencies, regional development institutions, civil society organisations, development partners, and subject matter experts.
She particularly acknowledged the contributions of the United Nations Development Programme (UNDP), noting that the process was highly inclusive and evidence-based.
Ogbe expressed optimism that the policy would be fully validated and operationalised before the end of the year.
Speaking at the event, the Resident Representative of the United Nations Development Programme, Elsie Attafuah, said the organisation provided technical expertise in drafting the policy.
Represented by UNDP Technical Adviser Matthew Alao, Attafuah reaffirmed the agency’s commitment to supporting Nigeria’s development aspirations.
“UNDP will continue to support government ministries, departments, and agencies to ensure the upliftment of human capital, infrastructure, and coordinated sustainable development,” she said.
Also speaking, the Managing Director of the South East Development Commission (SEDC), Mark Okoye, commended the ministry and technical team for producing what he described as an evidence-based and forward-looking policy document.
Represented by the Executive Director of Finance and Administration at SEDC, Stanley Ohajuruka, Okoye identified key aspects of the policy that align with the South-East region’s development priorities.
He highlighted the emphasis on regional growth corridors, particularly the commercial and industrial axis linking Aba, Onitsha, and Enugu.
“We must ensure that transport, energy, and digital infrastructure investments are sequenced to reinforce this corridor,” he said.
Okoye also stressed the importance of climate adaptation measures within the policy framework, especially regarding erosion control and watershed management in the South-East region.
“Erosion control and watershed management are not environmental niceties for the South East; they are existential,” he said.
He further praised the policy’s emphasis on data-driven implementation and measurable outcomes.
THE ISSUES
Nigeria continues to face significant regional disparities in infrastructure development, access to quality education and healthcare, economic opportunities, and public services.
Many regions, particularly rural and underserved communities, struggle with inadequate transportation networks, poor electricity supply, unemployment, environmental degradation, and weak institutional coordination.
Experts say climate-related challenges such as erosion, flooding, desertification, and environmental pollution have also deepened developmental inequalities in several parts of the country.
Stakeholders have repeatedly stressed the need for coordinated regional planning, evidence-based policymaking, and sustainable financing mechanisms to bridge these gaps.
WHAT’S BEING SAID
Government officials say the NRDP 2026–2030 is intended to serve as a comprehensive framework for achieving balanced and inclusive development nationwide.
Development partners and regional institutions have also welcomed the initiative, describing it as a critical step toward improving infrastructure, human capital development, and economic integration across Nigeria’s regions.
Stakeholders further emphasised the importance of effective implementation, transparency, and intergovernmental collaboration to ensure the policy delivers measurable results.
WHAT’S NEXT
The Federal Government is expected to complete the validation process for the NRDP 2026–2030 before moving toward full implementation.
Regional development agencies, state governments, and international development partners are also likely to intensify collaboration on infrastructure financing, climate adaptation, and economic development initiatives.
Experts say successful implementation of the policy could shape Nigeria’s long-term development planning and strengthen efforts to reduce regional inequalities.
BOTTOM LINE
The Federal Government’s proposed National Regional Development Policy 2026–2030 represents a renewed effort to address longstanding developmental imbalances across Nigeria. Stakeholders say the success of the initiative will depend largely on sustained political commitment, effective implementation, and strong collaboration among government institutions, development partners, and regional stakeholders.
The Joint Admissions and Matriculation Board (JAMB) says UTME candidates will be allowed to use personal computers for examinations from 2027.
JAMB Registrar, Prof. Ishaq Oloyede, said the initiative would reduce operational challenges and improve examination efficiency.
The board plans to deploy flash-drive-based security measures to prevent examination malpractice.
JAMB also announced the top-performing candidates in the 2026 UTME, with Jesudunsin Owoeye emerging highest scorer with 372 marks.
The board says additional digital innovations will be introduced to strengthen examination integrity and candidate experience.
Main Story
The Joint Admissions and Matriculation Board (JAMB) has announced plans to allow candidates sitting for the Unified Tertiary Matriculation Examination (UTME) to use personal computers for the examination beginning from 2027.
JAMB Registrar, Prof. Ishaq Oloyede, disclosed the development on Monday during the 2026 Policy Meeting on Admissions into Tertiary Institutions held in Abuja.
According to Oloyede, the initiative, tagged “Bring Your Own Device” (BYOD), is aimed at reducing technical disruptions experienced during examinations while lowering operational costs for the examination body.
He explained that candidates would be permitted to use their personal devices under strict security supervision, adding that special flash drives would be inserted into the systems to restrict unauthorised access and curb examination malpractice.
Oloyede said the move would address one of the recurring complaints raised by candidates during UTME exercises, particularly incidents involving sudden system shutdowns or technical failures at Computer-Based Test (CBT) centres.
“It will be cheaper and easier to manage. Candidates have often complained that their computer went off during examinations, and this innovation is expected to address such issues while preserving examination integrity,” Oloyede said.
The JAMB Registrar added that the board was already developing additional technological innovations ahead of the 2027 examination cycle to improve efficiency and strengthen public confidence in the conduct of UTME examinations.
The UTME remains Nigeria’s primary entrance examination for admission into universities, polytechnics and colleges of education. Over the years, JAMB has gradually transitioned fully into computer-based testing in a bid to reduce malpractice, improve speed and enhance result processing.
During the policy meeting, the board also announced the top-performing candidates in the 2026 UTME. Jesudunsin Owoeye from Ekiti State emerged as the highest scorer with 372 out of the obtainable 400 marks. Owoeye sat for the examination in Ogun State and selected the University of Lagos as first choice to study Medicine and Surgery.
The score falls slightly below the highest score recorded in 2025, when Chinedu Okeke from Anambra State scored 375. Ikenna Enwere from Imo State emerged second with 370 marks after writing the examination in Lagos State. He selected Nile University as his preferred institution to study Computer Science.
Ayomide Bamisile from Ondo State secured third position with 369 marks and chose the Federal University of Technology, Akure to study Software Engineering.
What’s Being Said
“This measure is designed to make the process more convenient while maintaining the integrity of the test,” Oloyede said during the policy meeting.
Education stakeholders say the planned BYOD model could significantly reduce pressure on CBT infrastructure if successfully implemented.
However, some analysts believe the initiative may also raise concerns around device compatibility, internet access, cybersecurity and equal access for candidates from low-income backgrounds.
Technology experts say JAMB will need to establish strict technical standards and security protocols before implementation.
What’s Next
JAMB is expected to begin pilot planning, infrastructure testing and stakeholder consultations ahead of the proposed 2027 rollout. The board may also issue detailed technical guidelines covering approved devices, security requirements and examination procedures before implementation.
Education stakeholders are expected to monitor how the policy could affect examination accessibility, operational costs and examination security across the country.
Bottom Line
JAMB’s planned introduction of personal-device-based UTME examinations marks another major shift in Nigeria’s digital examination system. While the initiative could improve efficiency and reduce technical disruptions, its success will depend heavily on security safeguards, infrastructure readiness and equal access for candidates nationwide.
The Central Bank of Nigeria (CBN) sold approximately N3.3 trillion worth of Open Market Operation (OMO) bills across two major auctions last week.
The auctions were significantly oversubscribed, reflecting strong demand from banks and foreign portfolio investors seeking high-yield fixed-income instruments.
Despite the aggressive liquidity mop-up, banking system liquidity increased to N5.67 trillion due to inflows from matured OMO bills.
Overnight lending rates declined marginally as liquidity conditions remained relatively robust.
Analysts say the CBN’s sustained tightening stance signals continued efforts to contain inflationary pressures and stabilise the foreign exchange market.
Main Story
The Central Bank of Nigeria (CBN) intensified its liquidity tightening measures last week after selling Open Market Operation (OMO) bills valued at about N3.3 trillion across two major auctions, as the apex bank continues efforts to manage excess liquidity and curb inflationary pressure in the economy.
The auctions attracted strong participation from banks and foreign portfolio investors, underscoring sustained appetite for Nigeria’s high-yield fixed-income securities amid elevated interest rates.
According to auction results and market data reviewed by BizWatch Nigeria, the apex bank offered N600 billion worth of OMO bills during the first auction across 8-day and 134-day tenors. However, investor demand surged to N1.71 trillion, representing a bid-to-offer ratio of 2.9 times.
The CBN eventually allotted N1.70 trillion, with stop rates clearing at 21.90 percent for the 8-day tenor and 19.97 percent for the 134-day tenor. Demand was particularly concentrated on the shorter tenor, where the apex bank fully allotted over N1 trillion.
At a second auction conducted later in the week, the CBN again offered N600 billion across 33-day, 75-day and 96-day maturities. Total subscriptions climbed to N1.64 trillion, while allotments settled at N1.60 trillion.
Stop rates closed at 21.57 percent, 20.63 percent and 20.45 percent respectively across the three maturities.
The aggressive OMO sales came as the apex bank continues deploying monetary tightening tools to rein in inflation, stabilise the naira and reduce excess liquidity within the financial system.
However, despite the sizeable liquidity mop-up operations, system liquidity improved during the review period following inflows from matured instruments.
Data from Coronation Merchant Bank showed that banking system liquidity rose to N5.67 trillion from N4.96 trillion recorded in the previous week, largely driven by N2.71 trillion inflow from matured OMO bills.
Consequently, the Overnight Rate (OVN) declined by 11 basis points week-on-week to 22.19 percent, while the Open Repo Rate (OPR) remained unchanged at 22.00 percent.
Nigeria’s inflation rate has remained elevated in recent months, prompting the CBN to sustain an aggressive monetary tightening cycle through high benchmark interest rates and frequent OMO issuances targeted at institutional and foreign investors.
What’s Being Said
“The CBN sustained its aggressive liquidity management posture via two OMO auctions last week,” Coronation Merchant Bank stated in its market note.
“Cumulatively, the CBN sterilised about N3.30 trillion across both operations, underscoring the persistence of its liquidity tightening measures,” the firm added.
Market analysts say the continued oversubscription of OMO bills reflects growing investor confidence in Nigeria’s fixed-income market, particularly as yields remain attractive relative to other emerging markets.
Some analysts also note that strong foreign investor participation may help improve foreign exchange liquidity and support naira stability in the near term.
What’s Next
Market participants are expected to closely monitor the CBN’s next monetary policy decisions, particularly as inflationary pressures and exchange rate volatility remain key concerns for policymakers.
Analysts expect the apex bank to maintain its tight monetary stance in the short term, with additional OMO auctions likely if liquidity levels remain elevated.
Investors will also watch for upcoming inflation data and signals from the Monetary Policy Committee (MPC) regarding the future direction of interest rates.
Bottom Line
The CBN’s N3.3 trillion OMO sales highlight the apex bank’s determination to tighten liquidity conditions and manage inflationary risks. However, persistent liquidity inflows and strong investor demand suggest that excess cash within the banking system remains substantial, keeping pressure on the central bank to sustain aggressive monetary interventions.
TikTok has become a major force in determining hit songs in Nigeria’s music industry, particularly within the Afrobeat genre.
Industry stakeholders say artistes now structure music releases around dance challenges, catchy hooks, and viral sound trends to boost online engagement.
Experts warn that while the platform creates global exposure opportunities, excessive focus on virality may affect artistic originality and creativity.
MAIN STORY
TikTok has emerged as one of the most influential platforms shaping Nigeria’s music industry, with viral dance challenges and trending sounds increasingly determining which Afrobeat songs achieve mainstream success.
Industry analysts say the platform’s rapid growth in Nigeria has transformed the way artistes release, promote, and market music, making social media engagement a key factor in commercial success.
According to experts, Nigeria’s TikTok user base has now surpassed 37 million active accounts, more than double the figure recorded in 2025, positioning the country among the platform’s fastest-growing markets in Africa.
Artistes and their management teams are now reportedly tailoring music production strategies around TikTok’s challenge culture by designing choreography, catchy hooks, and short sound snippets capable of driving viral engagement.
One of the most notable examples remains CKay’s global hit song Love Nwantiti, which moved from moderate streaming success to international chart dominance largely through widespread TikTok dance challenges and user-generated content.
Music industry stakeholders say TikTok’s algorithm rewards content that generates rapid engagement, enabling songs attached to successful trends to reach millions of listeners within a short period, often surpassing the reach of traditional radio promotion and conventional marketing campaigns.
A Lagos-based music promoter and digital strategist, Biodun Adeyemi, said TikTok has become central to music release strategies across the Nigerian entertainment industry.
“Every serious artiste dropping a song now is asking one question — will this work on TikTok? If the answer is no, they go back and rework it. That is how much power the platform holds over the industry right now,” Adeyemi said.
Data from a 2026 survey conducted by GeoPoll showed that 66 per cent of young Nigerians use TikTok regularly, while 71 per cent access the platform daily, highlighting its growing influence among youth audiences.
Digital music analyst Temi Lawson, however, warned that the pursuit of virality could create creative pressures for artistes.
“When you start writing songs for a challenge instead of from the heart, you can lose what made your music special. The best Nigerian artistes are learning to make music that is authentic and TikTok-friendly. That balance is now a real industry skill,” Lawson said.
THE ISSUES
The growing influence of TikTok is reshaping Nigeria’s music promotion landscape, reducing reliance on traditional platforms such as radio, television, and physical marketing.
Industry observers say the trend has democratised music promotion by giving emerging artistes direct access to large audiences without requiring major label backing.
However, concerns are also growing that the demand for short, catchy, and trend-driven songs may encourage formulaic music production and reduce artistic depth.
Experts further warn that heavy dependence on social media algorithms creates uncertainty for artistes, as trends can change rapidly and success may become increasingly unpredictable.
WHAT’S BEING SAID
Music promoters and digital strategists say TikTok has become one of the most powerful marketing tools in Nigeria’s entertainment industry.
Analysts believe the platform has significantly contributed to the global expansion of Afrobeat music by exposing Nigerian songs to international audiences through viral content.
At the same time, industry professionals are encouraging artistes to balance commercial appeal with originality to sustain long-term careers beyond temporary online trends.
WHAT’S NEXT
Industry stakeholders expect TikTok-driven music promotion strategies to continue evolving as digital platforms gain greater influence over entertainment consumption patterns.
Record labels and artistes are also likely to invest more heavily in influencer marketing, choreography development, and short-form content creation to improve audience engagement.
Experts predict that future music success in Nigeria will increasingly depend on the ability of artistes to combine authenticity, creativity, and digital adaptability.
BOTTOM LINE
TikTok has become a powerful force in Nigeria’s music industry, influencing how songs are produced, promoted, and consumed. While the platform has created unprecedented opportunities for Afrobeat artistes to achieve global visibility, stakeholders say maintaining artistic originality amid the race for virality will remain a critical challenge for the industry.
JAMB has approved 150 as the minimum admissible score for universities and nursing colleges for the 2026 admission exercise.
Polytechnics and monotechnics will admit candidates with a minimum score of 100.
Public universities must conclude admissions by October 31, 2026.
Candidates must accept admission offers within four weeks or risk losing them.
Main Story
The Joint Admissions and Matriculation Board (JAMB) has approved 150 as the minimum cut-off mark for admission into universities and colleges of nursing for the 2026 academic session.
The board also fixed 100 as the minimum admissible score for polytechnics and monotechnics across the country. The decisions were reached during the 2026 Policy Meeting on Admissions into Tertiary Institutions held on Monday in Abuja.
The annual policy meeting, which brings together heads of tertiary institutions, education stakeholders, and regulatory agencies, is responsible for determining admission guidelines and timelines for the upcoming academic session.
Minister of Education, Dr Tunji Alausa, who chaired the meeting, said the approved cut-off marks represented the minimum benchmark for admissions and must be strictly adhered to by all institutions.
“Candidates seeking admission must meet the approved minimum standards set for the 2026 admission exercise,” Alausa stated.
Stakeholders at the meeting also agreed on timelines for the completion of admissions across tertiary institutions nationwide.
Under the approved schedule, public universities are expected to conclude admissions on or before October 31, 2026, while private universities have until November 30, 2026 to complete their admission processes. Polytechnics, monotechnics, and colleges of education are expected to finalise admissions by December 31, 2026.
JAMB Registrar, Prof. Ishaq Oloyede, directed all institutions to strictly comply with the approved timelines, warning that institutions that fail to conclude admissions within the stipulated period would lose access to candidates on the Central Admissions Processing System (CAPS).
“Once the deadline expires, any institution that fails to conclude its admission exercise will no longer have access to candidates for that session,” Oloyede warned.
The registrar also announced a new compliance measure requiring successful candidates to accept admission offers within four weeks.
According to him, candidates who fail to accept their admission within the specified period risk losing the offer and may become ineligible for further admission consideration during the session.
JAMB said the policy is designed to improve transparency, reduce delays, and ensure a more efficient admission process across tertiary institutions.
The development comes as Nigeria continues to record rising demand for university admissions amid limited institutional capacity and increasing competition for placement into federal and state-owned universities.
Education analysts say the enforcement of stricter admission timelines could help reduce prolonged admission delays that have affected academic calendars in recent years.
What’s Being Said
Education stakeholders have welcomed the decision to introduce clearer admission timelines, arguing that it could improve efficiency and reduce uncertainty for candidates.
However, some stakeholders continue to express concerns over admission capacity constraints, particularly in highly competitive courses such as medicine, law, nursing, and engineering.
What’s Next
Tertiary institutions are expected to commence admission processing in line with the approved guidelines and timelines. JAMB will continue monitoring compliance through its Central Admissions Processing System, while candidates are advised to regularly monitor their admission status and promptly accept offers when issued.
Further directives on post-UTME screenings and institutional admission procedures are expected from individual institutions in the coming months.
Bottom Line
JAMB’s latest admission guidelines aim to standardise the 2026 admission process, improve transparency, and ensure timely completion of admissions across Nigeria’s tertiary institutions. The enforcement of stricter timelines could help reduce administrative delays and improve coordination within the education sector.
Nigeria Mortgage Refinance Company (NMRC) has listed a ₦11.50 billion 10-year fixed rate bond on FMDQ Securities Exchange.
The bond carries a 17.25 per cent coupon rate under NMRC’s ₦440 billion Medium Term Note Programme.
Proceeds will be used to expand mortgage refinancing operations and improve housing finance access.
Market stakeholders say the issuance reflects growing investor confidence in Nigeria’s debt capital market.
Main Story
Nigeria Mortgage Refinance Company PLC (NMRC) has secured the listing of its ₦11.50 billion 10-Year 17.25 per cent Series 1 Fixed Rate Bond on FMDQ Securities Exchange Limited, in a move aimed at deepening long-term housing finance and strengthening Nigeria’s debt capital market.
The listing was approved under NMRC’s ₦440 billion Medium Term Note Programme, further reinforcing the growing role of the domestic debt market in supporting infrastructure and housing development across Nigeria.
NMRC, a mortgage refinancing institution licensed by the Central Bank of Nigeria (CBN), was established in 2013 to provide long-term liquidity to mortgage lenders and improve access to affordable housing finance nationwide.
The company said proceeds from the bond issuance will be channelled toward expanding refinancing operations, strengthening support for primary mortgage lenders, and advancing the Federal Government’s housing accessibility agenda.
The transaction was sponsored by Stanbic IBTC Capital Limited, which acted as Sole Issuing House and Bookrunner for the issuance.
Reacting to the successful listing, Managing Director of NMRC, Mr Kehinde Ogundimu, said investor confidence remained strong despite prevailing macroeconomic pressures.
“NMRC is pleased with the strong reception of our Series 1 Bond issuance, which reflects continued investor confidence in NMRC’s business model and the critical role we play in strengthening Nigeria’s housing finance ecosystem,” Ogundimu said.
“The successful execution of this transaction enables us to further support mortgage lenders with long-term funding and advance our objective of improving access to affordable housing finance,” he added.
Also commenting, Chief Executive of Stanbic IBTC Capital Limited, Mr Oladele Sotubo, described the transaction as evidence of sustained investor appetite for quality debt instruments in Nigeria.
“The strong level of oversubscription highlights the strength of investor appetite for well-structured, high-quality credit in the Nigerian debt capital markets,” Sotubo stated.
FMDQ Group Chief Operating Officer, Ms Tumi Sekoni, said the listing underscored the importance of long-tenor financing instruments in supporting sectors critical to economic development.
“Housing finance remains central to inclusive economic development, and NMRC’s presence on our platform further reinforces FMDQ Exchange’s commitment to providing a transparent, efficient, and credible marketplace,” Sekoni said.
The development comes amid Nigeria’s widening housing deficit, estimated by industry experts to exceed 20 million units, with affordability and access to long-term mortgage financing remaining major challenges for many Nigerians.
Analysts say deeper participation in the bond market could provide mortgage institutions with the liquidity required to offer longer repayment tenors and more affordable housing loans.
What’s Being Said
Market operators say the successful bond issuance reflects improving confidence in Nigeria’s fixed income market despite elevated interest rates and inflationary pressures.
Industry stakeholders also note that expanding access to long-term mortgage financing is critical to reducing Nigeria’s housing deficit and stimulating broader economic activity across the construction and real estate sectors.
What’s Next
NMRC is expected to deploy the proceeds toward refinancing eligible mortgage portfolios and supporting participating mortgage lenders across the country.
Analysts will also monitor whether additional issuances under the company’s ₦440 billion Medium Term Note Programme attract similar levels of investor participation.
The listing is expected to further deepen liquidity in Nigeria’s debt capital market while encouraging more corporate and infrastructure-related bond issuances.
Bottom Line
NMRC’s ₦11.50 billion bond listing highlights the growing importance of Nigeria’s debt capital market in financing long-term economic development. The transaction is expected to strengthen mortgage liquidity, support affordable housing, and expand investor participation in the fixed income market.
Oil prices surged after U.S. President Donald Trump rejected Iran’s response to a U.S.-backed peace proposal.
The standoff has heightened fears that the conflict could continue disrupting shipping through the Strait of Hormuz, a critical global energy route.
Iran has demanded an end to hostilities, sanctions relief, and guarantees over regional security, while the U.S. and its allies remain divided over the next steps.
MAIN STORY
Global oil prices climbed sharply on Monday after U.S. President Donald Trump swiftly rejected Iran’s response to a U.S.-brokered peace proposal, deepening concerns over the ongoing conflict and disruptions to global energy supplies.
The development intensified fears that the 10-week-old conflict could drag on, prolonging instability around the Strait of Hormuz, a strategic maritime corridor through which roughly one-fifth of the world’s oil and liquefied natural gas supplies previously passed before the outbreak of hostilities.
Days after Washington proposed a framework aimed at restarting negotiations, Iran released a response on Sunday calling for an end to the conflict across all fronts, including in Lebanon, where U.S. ally Israel continues military operations against the Iran-backed Hezbollah.
Tehran’s proposal also demanded compensation for war-related damages, recognition of its sovereignty over the Strait of Hormuz, an end to the U.S. naval blockade, guarantees against future attacks, the lifting of sanctions, and the removal of restrictions on Iranian oil exports.
However, Trump dismissed the proposal within hours through a post on Truth Social.
“I don’t like it. Totally unacceptable,” Trump wrote, without providing further details.
The United States had reportedly sought an immediate cessation of hostilities before entering broader negotiations covering contentious issues such as Iran’s nuclear programme.
Responding on Monday, Iranian Foreign Ministry spokesperson Esmaeil Baghaei defended Tehran’s conditions, describing them as legitimate demands.
“Our demand is legitimate: demanding an end to the war, lifting the U.S. blockade and piracy, and releasing Iranian assets that have been unjustly frozen in banks due to U.S. pressure,” Baghaei said.
He added that ensuring safe passage through the Strait of Hormuz and restoring regional security constituted “a generous and responsible offer.”
Oil prices reportedly surged by about four dollars per barrel before easing slightly later in the day as uncertainty surrounding the conflict continued to unsettle global energy markets.
Shipping through the strait has significantly declined since the conflict began on Feb. 28, with maritime data providers Kpler and LSEG reporting that only a handful of crude tankers exited the waterway last week, many reportedly switching off tracking systems to avoid potential attacks.
Although a ceasefire implemented in early April has reduced full-scale military confrontations, sporadic flare-ups near the strategic waterway have continued to threaten regional stability and global trade routes.
The conflict is also emerging as a domestic political challenge for Trump ahead of key U.S. elections, as rising fuel prices fuel public dissatisfaction and economic pressure.
Washington has reportedly struggled to secure broader international military backing, with NATO allies unwilling to deploy naval forces to reopen the waterway without a comprehensive peace agreement and an internationally mandated mission.
Meanwhile, Turkey’s Foreign Minister, Hakan Fidan, is expected to visit Qatar on Tuesday for talks involving the United States, Iran, and mediator Pakistan on de-escalation efforts and navigational safety in the Gulf.
Trump is also expected to arrive in Beijing on Wednesday for discussions with Chinese President Xi Jinping, where the Iran conflict and its impact on global energy supplies are expected to feature prominently.
Washington has been urging China to use its influence to pressure Tehran toward a diplomatic agreement.
However, Baghaei suggested Beijing could instead challenge U.S. actions in the Gulf region.
“Our Chinese friends know very well how to use these opportunities to warn about the consequences of the U.S.’s illegal and bullying actions on regional peace and security,” he said.
Addressing the conflict, Trump stated in remarks aired on Sunday that although Iran had suffered major setbacks, the confrontation was not necessarily over.
“They are defeated, but that doesn’t mean they’re done,” he said.
Israeli Prime Minister Benjamin Netanyahu also maintained that the conflict could not end until Iran’s enriched uranium stockpiles, nuclear facilities, proxy networks, and ballistic missile capabilities were addressed.
Speaking to CBS News’ “60 Minutes,” Netanyahu said diplomacy remained preferable but did not rule out further military action.
Iranian President Masoud Pezeshkian, meanwhile, insisted that Tehran would “never bow down to the enemy” and would continue defending its national interests.
Regional tensions remained high on Sunday, with the United Arab Emirates reporting the interception of two drones launched from Iran, while Qatar condemned a drone strike targeting a cargo vessel in its waters.
Kuwait also announced that its air defence systems had intercepted hostile drones entering its airspace.
THE ISSUES
The continued conflict threatens global energy stability, with disruptions in the Strait of Hormuz posing major risks to oil supplies, shipping operations, and international trade.
Analysts warn that prolonged instability in the Gulf could trigger sustained increases in oil prices, worsen inflation globally, and deepen geopolitical tensions involving major world powers.
The crisis also reflects broader concerns over nuclear diplomacy, regional proxy conflicts, and the growing militarisation of strategic waterways critical to global commerce.
WHAT’S BEING SAID
The United States insists that Iran must agree to broader negotiations and security guarantees before sanctions relief and diplomatic normalisation can proceed.
Iran, however, maintains that any peace agreement must include guarantees against future attacks, the lifting of sanctions, and recognition of its regional security concerns.
Global leaders and energy analysts are warning that failure to secure a diplomatic breakthrough could further destabilise the Middle East and international energy markets.
WHAT’S NEXT
Diplomatic engagements involving the United States, Iran, Turkey, China, and regional actors are expected to continue in the coming days as efforts to prevent further escalation intensify.
Global markets will also closely monitor developments surrounding the Strait of Hormuz and oil supply disruptions.
The outcome of Trump’s upcoming talks with Xi Jinping may also shape future diplomatic efforts and international pressure on Tehran.
BOTTOM LINE
Trump’s rejection of Iran’s peace proposal has heightened fears of a prolonged conflict in the Gulf, driving up oil prices and increasing uncertainty over global energy supplies. With tensions around the Strait of Hormuz remaining high, world powers are under growing pressure to secure a diplomatic resolution before the crisis further disrupts regional stability and the global economy.
Chinese President Xi Jinping and U.S. President Donald Trump are expected to hold extensive talks on China-U.S. relations and global development issues.
Trump’s scheduled May 13–15 state visit marks the first visit to China by a sitting U.S. president in nine years.
Beijing says the talks will focus on cooperation, managing disagreements, and promoting global stability.
Analysts say the meeting could shape trade, security, and diplomatic relations between the world’s two largest economies.
Main Story
Chinese President Xi Jinping and U.S. President Donald Trump are set to engage in high-level discussions focused on bilateral relations, global peace, and economic development during Trump’s upcoming state visit to China.
The announcement was made on Monday by Chinese Foreign Ministry spokesperson Guo Jiakun during a press briefing in Beijing.
According to Guo, Trump’s visit to China is scheduled to take place from May 13 to May 15, marking the first official visit to the Asian economic giant by a U.S. president in nearly a decade.
The meeting is expected to revisit several contentious and strategic issues affecting relations between both countries, including trade cooperation, technology restrictions, geopolitical tensions, global security, and economic coordination.
Xi and Trump last met in October 2025 in Busan, South Korea, during a regional diplomatic engagement where both leaders reportedly agreed on the need to maintain dialogue despite ongoing disagreements between Washington and Beijing.
Speaking during the briefing, Guo said head-of-state diplomacy remains critical to maintaining stable relations between both countries.
“Head-of-state diplomacy plays an irreplaceable strategic guiding role in China-U.S. relations,” Guo said.
He added that China remains willing to engage the United States on the basis of equality, mutual respect, and shared economic interests.
“China is willing to work with the United States in the spirit of equality, respect, and mutual benefit to expand cooperation, manage differences, and inject more stability into a turbulent and changing world,” Guo stated.
The planned visit comes at a time of heightened geopolitical uncertainty, ongoing global economic realignments, and growing concerns over trade protectionism, semiconductor restrictions, and regional security issues involving Taiwan and the South China Sea.
International observers believe the talks may also address broader global concerns such as climate cooperation, artificial intelligence regulation, supply chain resilience, and efforts to stabilise financial markets.
What’s Being Said
Chinese officials have continued to emphasise diplomacy and economic cooperation ahead of the visit, while analysts suggest the meeting represents a strategic attempt by both countries to prevent further deterioration in bilateral relations.
Foreign policy experts say sustained dialogue between Washington and Beijing remains crucial given the influence both nations exert on global trade, investment flows, and international security.
What’s Next
The outcome of the Xi-Trump meeting will likely be closely monitored by investors, global policymakers, and financial markets.
Any agreements reached during the visit could influence future trade negotiations, investment policies, and diplomatic engagements between both countries.
Further details regarding the agenda, bilateral agreements, and possible joint statements are expected to emerge during the three-day visit.
Bottom Line
The upcoming meeting between Xi Jinping and Donald Trump signals renewed diplomatic engagement between China and the United States at a critical moment for the global economy and international politics. The discussions are expected to shape the direction of bilateral relations and broader global stability in the months ahead.
The Senate Committee on Agricultural Colleges and Institutions has unveiled plans to reform Nigeria’s agricultural education and research system to address food insecurity and unemployment.
The committee says it is pursuing international partnerships with countries including China, Brazil, Germany, and the United Kingdom for technology transfer and training.
Stakeholders at the upcoming National Legislative Summit on Agricultural Colleges and Institutions are calling for stronger legislative support, investment, and collaboration in agricultural research.
MAIN STORY
The Senate Committee on Agricultural Colleges and Institutions has announced plans to modernise Nigeria’s agricultural education and research system as part of broader efforts to strengthen food security and create employment opportunities across the country.
Chairman of the committee, Sharafadeen Alli, disclosed this during a media parley held in Ibadan ahead of the maiden National Legislative Summit and Expo on Agricultural Colleges and Institutions.
The summit, scheduled to hold from Tuesday to Friday, is themed: “Unfolding the Potential of Agricultural Colleges and Institutions through Collaboration and Innovation to Enhance Food Security and Job Creation.”
According to Alli, the committee has initiated high-level diplomatic engagements with countries including Malaysia, Brazil, China, Germany, India, and the United Kingdom, as well as the European Union, to facilitate technology transfer, investment, and training aimed at overhauling Nigeria’s agricultural education sector.
He said the committee was committed to transforming agricultural institutions from largely theory-driven centres into practical, innovation-focused hubs capable of delivering measurable results in food production and agribusiness development.
“The era of treating agricultural education as purely academic is over. Our goal is to ensure that between 60 and 70 per cent of training focuses on practical areas such as crop production, livestock, and agribusiness,” Alli said.
The senator explained that the planned reforms informed the decision to organise the first National Legislative Summit and Expo on Agricultural Colleges and Research Institutions.
He further disclosed that the committee is currently reviewing laws guiding the Agricultural Research Council of Nigeria (ARCN), noting that more than 16 affiliated research institutes must improve operational efficiency and align their mandates with Nigeria’s food security objectives.
Alli added that the Senate supports the establishment of specialised institutions, including the proposed Federal College of Agriculture in Shani, Borno State, to strengthen agricultural development in underserved areas.
“Despite logistical challenges, the committee has continued to engage heads of agricultural agencies to ensure that over 35 research institutes contribute meaningfully to national food security goals. Our focus remains on producing skilled manpower capable of bridging the gap between agricultural research and practical farming,” he stated.
Also speaking, the Executive Director of the National Horticultural Research Institute (NIHORT), Muhammed Attanda, described the summit as timely, stressing that Nigeria urgently requires a stronger legislative framework to support agricultural development.
Attanda lamented that agricultural research institutions in Nigeria were not receiving adequate visibility despite possessing innovations and products capable of competing globally.
“We have outstanding products and innovations that can compete globally, but we lack the platform to effectively showcase them to Nigerians,” he said.
Similarly, the acting Executive Director of the Cocoa Research Institute of Nigeria (CRIN), Adedeji Abiodun, said government alone could not drive agricultural development without active collaboration from citizens and private stakeholders.
He called for stronger partnerships to revitalise research institutions across the country and improve their capacity to contribute to national development.
“We need support and collaboration, as research institutions require adequate resources to function effectively and contribute meaningfully to national development,” Abiodun said.
The acting Executive Director of the Institute of Agricultural Research and Training (IAR&T), Oluwatosin Gabriel, also stressed the importance of research in national development.
Gabriel noted that Nigeria possesses highly skilled researchers across different sectors but lamented that foreign countries often benefit more from Nigerian expertise than the country itself.
“What agriculture urgently needs is stronger legislative and executive support. While the Federal Government can provide policy frameworks, state governments also have critical roles to play, especially in land provision and implementation of development initiatives,” he said.
THE ISSUES
Nigeria continues to face major food security challenges driven by low agricultural productivity, weak mechanisation, inadequate funding for research institutions, and poor linkage between research findings and practical farming.
Stakeholders say many agricultural colleges and research institutes operate with outdated infrastructure, insufficient funding, and limited access to modern technology, affecting their ability to contribute effectively to national development.
Experts have also raised concerns about youth unemployment and declining interest in agriculture, stressing the need for practical training and innovation-driven education capable of creating sustainable jobs in agribusiness and food production.
WHAT’S BEING SAID
Lawmakers and agricultural experts say modernising agricultural education and strengthening research institutions are essential to addressing food insecurity and driving economic growth.
Stakeholders also believe international collaboration, technology transfer, and practical training will help reposition Nigeria’s agricultural sector for competitiveness and sustainability.
Researchers are calling for increased government funding, stronger policies, and improved public-private partnerships to revitalise agricultural research and innovation nationwide.
WHAT’S NEXT
The Senate Committee is expected to advance legislative reforms targeting agricultural colleges, research institutes, and the broader agricultural education framework.
Outcomes from the National Legislative Summit and Expo may also shape future policies aimed at strengthening food security, research innovation, and youth participation in agriculture.
Government agencies and research institutions are likely to intensify collaboration with international partners to improve training, technology adoption, and agricultural productivity across the country.
BOTTOM LINE
The Senate’s push to modernise Nigeria’s agricultural education and research system reflects growing efforts to tackle food insecurity, unemployment, and low agricultural productivity. Stakeholders say sustained investment, stronger legislation, and practical innovation will be critical to transforming agriculture into a major driver of economic growth and national development.
Interswitch, one of Africa’s leading integrated payments and digital commerce companies, has announced the launch of its Ticket Vending Platform (TVP), a comprehensive digital solution designed to transform ticketing, streamline operations, and enhance service delivery across Nigeria’s interstate transport sector.
Developed as both an operational management system and a digital marketplace, the platform enables transport operators, particularly small and medium-scale businesses, to digitise their end-to-end processes while connecting to a broader customer base through the Quickteller ecosystem. With TVP, operators can seamlessly create and manage routes, oversee terminal activities, track sales, and access real-time performance insights from a single, centralised platform.
At the core of the solution is a secure, token-based system that allows travellers to purchase digital tickets across multiple channels, including web, mobile, and dedicated point-of-sale (POS) devices deployed at transport terminals. These tokens serve as verifiable digital vouchers, which are validated and redeemed at boarding points, significantly reducing inefficiencies associated with manual ticketing, cash handling, and fragmented sales processes.
Commenting on the launch, Chinyere Don-Okhuofu, Managing Director, Industry Ecosystems, Interswitch, said:
“Transportation remains a critical backbone of Nigeria’s economy, yet much of the sector still operates with fragmented systems and manual processes that limit efficiency and growth. With the Ticket Vending Platform, we are introducing a scalable digital infrastructure that empowers transport operators to modernise their operations, expand their reach, and deliver a more seamless experience to travellers.
“Beyond ticketing, this is about creating a connected ecosystem, one that brings together operators, commuters, and regulators on a unified platform, while driving transparency, efficiency, and long-term value across the industry.”
Beyond its operational capabilities, TVP introduces a marketplace experience that enables travellers to search, compare, and select transport options across multiple operators based on routes, schedules, and pricing. This not only simplifies journey planning but also promotes transparency and choice for commuters.
For transport operators, the platform addresses long-standing challenges such as limited online visibility, disconnected sales channels, and manual reconciliation processes. By leveraging TVP and its integration with the Quickteller platform, operators can expand their market reach, improve settlement transparency, and unlock data-driven insights to optimise performance and revenue.
The platform also supports corporate and institutional users by enabling bulk token purchases, offering a flexible and efficient solution for organisations managing employee or group travel. In addition, TVP delivers value to regulators and stakeholders within the transport ecosystem by providing access to structured data and actionable insights that can support oversight, licensing, and consumer protection efforts.
The launch of the Ticket Vending Platform underscores Interswitch’s broader commitment to driving digital transformation across critical sectors of the economy. By bridging the gap between physical transport operations and digital infrastructure, the platform is set to unlock new efficiencies, enhance customer experience, and accelerate the modernisation of Nigeria’s transport industry.
To learn more about Interswitch’s Parking Management Platform (PMP) and how it is transforming Nigeria’s transport industry, visit www.interswitchgroup.com
The Jewel Environmental Initiative has called for increased investment in waste recycling to address environmental pollution and youth unemployment.
The organisation says inadequate recycling infrastructure, especially in Northern Nigeria, is worsening plastic and nylon pollution.
The NGO has trained residents in converting waste into reusable products, including interlock pavements and home gardening materials.
MAIN STORY
The Jewel Environmental Initiative (JEI), a non-governmental organisation, has called on government and relevant stakeholders to invest in waste recycling initiatives as part of efforts to tackle environmental pollution and create sustainable employment opportunities for youths.
The Chief Executive Officer of the organisation, Ismail Bima, made the appeal during an interview in Gombe.
Bima said the need for urgent investment in recycling infrastructure had become necessary due to the growing volume of waste generated across the country and the inability of existing systems to fully harness the economic value chain within the waste management sector.
According to him, establishing recycling facilities would help convert waste into reusable products, reduce environmental pollution, improve sanitation, and boost revenue generation for governments at various levels.
He specifically urged authorities to establish small-scale recycling plants capable of addressing the growing problem of plastic and nylon waste, particularly in Northern Nigeria where plastic pollution continues to pose serious environmental challenges.
“Waste recycling addresses critical environmental sanitation challenges by diverting waste from the streets and other sources, reducing pollution and turning potential environmental hazards into valuable resources,” Bima said.
He noted that Northern Nigeria currently has limited recycling infrastructure, adding that Gombe State has only one company involved in recycling sachet water plastics into reusable products.
“Establishing small-scale recycling plants will reduce environmental hazards, generate revenue for government, and curb unemployment. For women, it will also reduce their level of dependency on their male counterparts,” he added.
The environmental advocate, however, identified the high cost of transportation as a major challenge affecting waste collection and recycling activities.
According to him, the rising cost of transporting recyclable materials to processing centres in other parts of the country has discouraged many young people involved in waste collection and recycling businesses.
He explained that the situation has contributed to increasing volumes of plastic waste clogging drainage systems and littering public spaces.
Bima further disclosed that the organisation had trained 30 individuals in 2025 on how to convert sachet water plastics into interlock paving materials.
He added that women had also been trained on how to use garden waste for home gardening as well as techniques for recycling wastewater for domestic gardening activities.
The JEI chief stated that the organisation is currently collaborating with Gombe State University to train students on waste-to-wealth initiatives and entrepreneurial skills development before graduation.
THE ISSUES
Nigeria continues to grapple with growing waste management challenges driven by rapid urbanisation, population growth, poor sanitation systems, and inadequate recycling infrastructure.
Plastic and nylon pollution have become major environmental concerns in many urban centres, with clogged drainage channels contributing to flooding, health risks, and environmental degradation.
Experts say the country’s limited recycling capacity and weak waste collection systems have prevented effective utilisation of recyclable materials that could otherwise create jobs and generate economic value.
The high cost of transportation and limited investment in local recycling plants also remain significant barriers to developing a sustainable waste management industry, particularly in Northern Nigeria.
WHAT’S BEING SAID
Environmental advocates say waste recycling presents an opportunity to address both environmental and socio-economic challenges simultaneously.
Stakeholders believe increased investment in recycling infrastructure could help reduce pollution, improve sanitation, support climate action, and create employment opportunities for young people and women.
Experts have also stressed the need for stronger government policies, public awareness campaigns, and private sector participation to strengthen Nigeria’s waste management system.
WHAT’S NEXT
Stakeholders are expected to intensify calls for government support and private investment in recycling facilities across the country.
Environmental groups and educational institutions may also expand training programmes focused on waste-to-wealth initiatives and green entrepreneurship.
Authorities are likely to explore additional strategies for improving waste collection, reducing plastic pollution, and promoting sustainable environmental practices nationwide.
BOTTOM LINE
The call by The Jewel Environmental Initiative highlights the growing need for investment in Nigeria’s waste recycling sector. Stakeholders say improved recycling infrastructure could help tackle environmental pollution, generate revenue, and provide sustainable employment opportunities for youths and women across the country.
Schools will be required to conduct periodic and unannounced drug screenings for both new and returning students at least once every academic session.
Students who repeatedly test positive will undergo a three-stage intervention process involving counselling, professional treatment, rehabilitation, and possible temporary suspension.
The policy mandates pre-test and post-test counselling, while schools are also expected to establish disciplinary committees to oversee compliance and enforcement.
Main story
The Federal Government has unveiled far-reaching measures aimed at curbing drug and substance abuse in secondary schools, introducing compulsory drug testing for students alongside temporary suspension for individuals who repeatedly test positive despite undergoing treatment and rehabilitation programmes.
Under the revised policy framework, all newly admitted secondary school students will be subjected to mandatory drug integrity screening as part of the admission process.
The measures are encapsulated in the National Implementation Guidelines Against Drug and Substance Use in Schools in Nigeria for secondary schools, details of which were obtained by our correspondent.
The guideline delineates a comprehensive framework designed to mitigate the escalating prevalence of substance abuse among students while fostering safer and more conducive learning environments across schools nationwide.
The guideline further stipulates that all new students/learners shall be subjected to drug tests and other measures approved by the schools/learning centres at the point of entry, adding that the exercise must be conducted in collaboration with approved federal/state health facilities and procedures.
Beyond admission-level screening, schools are expected to administer periodic as well as unannounced drug tests for both newly admitted and returning students at least once every academic session.
The policy expressly prohibits students from using or possessing narcotic drugs, controlled substances, or other illicit substances without authorisation from school authorities.
However, it clarifies that students who require controlled medication for underlying medical conditions must duly declare such medications through their parents or guardians during the admission process.
The framework establishes a three-tiered testing and intervention mechanism for students who test positive.
Students who fail the initial test will undergo counselling and preliminary treatment as determined by school authorities.
Those who subsequently test positive a second time will be referred to qualified professionals for more extensive treatment and specialised care.
For students who continue to test positive after a third round of screening and intervention, the policy provides that they may be temporarily suspended from the school environment.
The policy also introduces compulsory pre-test and post-test counselling procedures for students undergoing screening. The document additionally directs that violent incidents associated with substance abuse, including fighting or inflicting injuries, shall be reported to the law enforcement agents.
It also cautions that students who aren’t compliant with prescribed treatment or rehabilitation procedures will be temporarily removed from the school environment until he/she is deemed stable.
The development comes amid mounting concerns over the rising incidence of drug and substance abuse among adolescents in Nigeria, with stakeholders in the education and health sectors warning about its far-reaching implications for academic performance, discipline, mental well-being, and security within schools.
While proponents argue that the measures could significantly curtail substance abuse among students, critics are expected to raise concerns regarding implementation capacity, student welfare safeguards, and the preparedness of schools and health institutions to effectively operationalise the policy nationwide.
What’s being said
Excerpts from the document include:
“the aim is to identify students who may need help and to promote a safe and healthy school environment.”
“post-test counselling happens after results are available, regardless of whether the test is positive or negative. The goal is to support the individual to accept the result and link them to the right help.”
“if found to be positive again, such a student shall be temporarily suspended from the school environment to take treatment from a professional and undergo rehabilitation that might be found appropriate by the professional.”
Bottom Line
The development comes amid mounting concerns over the rising incidence of drug and substance abuse among adolescents in Nigeria, with stakeholders in the education and health sectors warning about its far-reaching implications for academic performance, discipline, mental well-being, and security within schools.
Zimbabwe says its gold reserves have surpassed 4 metric tonnes as part of efforts to strengthen the Zimbabwe Gold (ZiG) currency.
President Emmerson Mnangagwa inspected the vaults of the Reserve Bank of Zimbabwe and described the reserves as critical to the country’s monetary sovereignty.
Authorities aim to increase gold reserves to 5 metric tonnes before the end of the year.
The ZiG currency, introduced in 2024, is backed by gold and foreign currency reserves to curb inflation and stabilise Zimbabwe’s financial system.
Main Story
Zimbabwean President Emmerson Mnangagwa has announced that the country’s gold-backed monetary strategy is gaining momentum after inspecting the vaults of the Reserve Bank of Zimbabwe (RBZ).
In a statement released after the inspection, Mnangagwa said Zimbabwe’s gold and foreign currency reserves have grown significantly following a government directive issued two years ago requiring mineral royalties to be accumulated in physical form.
According to the president, Zimbabwe now holds more than four metric tonnes of gold reserves, positioning the country among Africa’s leading holders of official gold reserves and one of the strongest reserve holders within the Southern African Development Community (SADC).
The reserves are being used to support the Zimbabwe Gold (ZiG) currency, which was introduced in April 2024 as the country’s latest attempt to establish a stable local currency after years of hyperinflation and currency instability.
Recent reports from Zimbabwean authorities indicated that the RBZ had already accumulated about 3.4 metric tonnes of gold by mid-2025, with officials targeting 5 metric tonnes before year-end.
RBZ Governor John Mushayavanhu has previously stated that the reserves exceed the amount of ZiG currently in circulation, helping to improve confidence in the local currency and support price stability.
The development comes as Zimbabwe continues broader economic reforms aimed at reducing dependence on the United States dollar, restoring investor confidence, and strengthening fiscal discipline.
What’s Being Said
“These reserves are tangible assets that underpin our monetary sovereignty, rather than mere numbers. With over 4 metric tonnes of gold and foreign currency reserves, our ZiG currency remains fully backed and resilient to global economic shocks,” Mnangagwa said following the vault inspection.
The president added that the government remains committed to building a “stable, transparent, and prosperous economy” anchored on mineral-backed reserves.
Economic analysts say the success of the ZiG will depend not only on gold reserves but also on policy consistency, inflation control, and public trust in the financial system.
What’s Next
Zimbabwe’s central bank is expected to continue accumulating gold reserves throughout the year while tightening monetary policy measures designed to support the ZiG.
Authorities are also expected to expand the circulation and acceptance of the ZiG currency across the economy as part of efforts to reduce dollarisation and strengthen local currency usage.
The government’s progress toward achieving its 5-metric-tonne reserve target will likely remain a key indicator for investors and financial markets monitoring Zimbabwe’s economic recovery efforts.
Bottom Line
Zimbabwe is intensifying its push to stabilise the ZiG currency through increased gold reserves and tighter monetary controls. While the strategy has shown early signs of improving currency stability, long-term success will depend on sustained fiscal discipline, reserve growth, and public confidence in the country’s economic reforms.
Nigeria’s equity mutual fund segment grew to N216.34 billion in Net Asset Value (NAV) as of April 2026, up sharply from N170.74 billion in March.
The segment now has 94,531 unitholders, showing rising investor participation despite stock market volatility.
Zedcrest Equity Fund emerged as the best-performing equity mutual fund with an 83.73% Year-to-Date (YTD) return.
Several funds crossed the 50% return threshold, significantly outperforming inflation and many traditional savings instruments.
Investor appetite for equity-based investments is rising as Nigerians search for higher-yield assets amid inflationary pressure and naira volatility.
MAIN STORY
Nigeria’s mutual fund industry is undergoing a quiet but significant transformation. For years, conservative investment instruments such as fixed deposits, treasury bills, and money market funds dominated the financial decisions of most Nigerian investors. Safety was the priority. Capital preservation mattered more than aggressive returns. But 2026 is beginning to reveal a different trend.
A growing number of Nigerians are now looking beyond low-risk investments and moving toward equity mutual funds in search of stronger long-term returns.
Data compiled from the Securities and Exchange Commission (SEC) and analysed by Nairametrics shows that Nigeria’s equity mutual fund segment recorded a major expansion in April 2026. The category now comprises 20 equity mutual funds with a combined Net Asset Value (NAV) of N216.34 billion, compared with N170.74 billion recorded in March. The jump reflects both market appreciation and increased investor participation.
Even more notable is the rise in the number of unitholders. As of April 2026, the equity mutual fund category had 94,531 unitholders, underscoring increasing interest from retail and institutional investors seeking exposure to Nigeria’s stock market.
Unlike money market funds, which prioritise capital preservation and steady income, equity mutual funds are designed primarily for long-term capital appreciation. Fund managers invest in listed companies across sectors such as banking, consumer goods, industrials, telecommunications, oil and gas, and energy.
While equity funds come with higher volatility, the rewards can be substantial during strong market cycles. That reality has become increasingly evident in 2026. Several equity mutual funds have delivered returns above 50% within just the first four months of the year, outperforming many traditional investment instruments and attracting fresh attention from investors trying to stay ahead of inflation.
The strong performance of Nigerian banking stocks, industrial companies, and select energy counters has played a major role in boosting the returns of these funds. Against that backdrop, the competition among fund managers has intensified.
1. Zedcrest Equity Fund – 83.73% YTD Return
At the top of the rankings is the Zedcrest Equity Fund, which posted an impressive 83.73% Year-to-Date return by the end of April 2026.
The fund significantly outperformed both the broader market and competing equity funds, cementing its position as the leading performer in Nigeria’s equity mutual fund landscape. Its strong return reflects aggressive positioning in high-performing Nigerian equities during a period when several listed companies experienced strong price appreciation.
The performance also highlights how active portfolio management continues to play a major role in Nigeria’s developing asset management industry. For many investors, the fund’s extraordinary return has become one of the clearest examples of the upside potential available in Nigerian equities despite persistent macroeconomic challenges.
2. ZroskMagna Equity Fund – 61.13% YTD Return
Coming in second is the ZroskMagna Equity Fund with a strong 61.13% return. The fund maintained steady momentum throughout the first quarter and successfully crossed the 60% return threshold.
Its performance reinforces the growing competitiveness within Nigeria’s equity fund segment, where smaller and mid-sized fund managers are increasingly challenging more established firms. The strong return also reflects growing investor confidence in professionally managed equity portfolios as an alternative to direct stock picking.
3. Paramount Equity Fund – 60.05% YTD Return
Managed by Chapel Hill Denham, the Paramount Equity Fund recorded a 60.05% Year-to-Date return.The fund has consistently remained one of the strongest performers in Nigeria’s equity mutual fund space.
Its investment strategy focuses on high-quality Nigerian companies with long-term growth potential, helping it benefit from the broader rally in the equities market. Chapel Hill Denham’s reputation in Nigeria’s financial services industry has also contributed to the fund’s growing investor base.
4. CardinalStone Equity Fund – 56.58% YTD Return
The CardinalStone Equity Fund delivered a 56.58% return, driven largely by a diversified portfolio of high-growth Nigerian stocks.
CardinalStone has built a reputation for detailed market research and institutional-grade investment management, and the fund’s performance reflects the benefits of broad diversification during a bullish market cycle. The fund’s strong showing also demonstrates how exposure across multiple sectors can reduce concentration risk while still capturing strong upside opportunities.
5. Halo Equity Fund – 54.00% YTD Return
The Halo Equity Fund secured fifth position after posting a 54% return. The fund benefited from the rally in mid-cap and large-cap equities, particularly within sectors that recorded strong earnings growth.
Its performance highlights how Nigeria’s equity market recovery has extended beyond only the largest companies, creating opportunities for funds with broader market exposure.
6. Futureview Equity Fund – 52.43% YTD Return
Futureview Equity Fund continued its steady growth trajectory with a 52.43% Year-to-Date return. The fund has remained a notable player in Nigeria’s investment landscape for years, and its latest performance reinforces its reputation for disciplined portfolio management. Crossing the 50% return mark in less than five months further strengthens its appeal among growth-focused investors.
7. Guaranty Trust Equity Income Fund – 50.36% YTD Return
The Guaranty Trust Equity Income Fund, managed by GT Asset Management, posted a 50.36% return. Unlike some funds focused purely on capital gains, this fund combines capital appreciation with dividend income strategies.
That structure makes it particularly attractive to investors seeking both portfolio growth and recurring income. Dividend-paying banking and industrial stocks have remained central to the strategy of several Nigerian equity funds in 2026.
Other Honorable Mentions
Cowry Equity Fund – 49.50% YTD Return
The Cowry Equity Fund narrowly missed the 50% threshold after delivering a 49.50% return. Managed by Cowry Asset Management, the fund continues to maintain strong appeal among retail investors looking for professionally managed exposure to Nigerian equities.
Its performance demonstrates that even funds outside the very top tier continue to deliver significant gains compared with conventional savings products.
Meristem Equity Market Fund – 49.18% YTD Return
Meristem’s flagship equity fund posted a 49.18% return, reflecting strategic positioning across key sectors of the Nigerian stock market.
Meristem Wealth Management has long maintained a strong presence in Nigeria’s investment management industry, and the fund’s performance further reinforces investor confidence in actively managed equity products.
PACAM Equity Fund – 48.99% YTD Return
Rounding out the top ten is the PACAM Equity Fund with a 48.99% return. Although it narrowly missed the 50% mark, the fund still delivered one of the strongest performances within the entire equity mutual fund category. Its inclusion among the top-performing funds underscores the broader strength of the sector in 2026.
THE ISSUES
The remarkable rise of equity mutual funds is occurring at a time when Nigeria’s economic environment remains deeply challenging. Inflation continues to pressure household purchasing power, while currency volatility and elevated living costs have forced many Nigerians to rethink how they preserve and grow wealth.
For years, money market funds dominated the mutual fund industry because of their relatively low risk and stable yields. According to market data, the money market segment still accounts for the largest portion of Nigeria’s mutual fund industry. Investors traditionally viewed these instruments as safer options during periods of economic uncertainty.
However, inflation has significantly altered investor behaviour. As prices continue rising, more investors are beginning to realise that conservative returns may no longer be sufficient to protect long-term wealth. This has increased interest in equity-based investments capable of generating stronger real returns. Still, the shift toward equity funds comes with important risks.
Unlike money market funds, equity funds are directly exposed to stock market fluctuations. Returns can swing sharply depending on corporate earnings, investor sentiment, monetary policy, foreign exchange developments, and broader economic conditions. Financial advisers continue to stress that equity mutual funds are generally better suited for long-term investors with higher risk tolerance.
Short-term market volatility remains an unavoidable reality. Another issue is investor education.
Many first-time investors are attracted by headline returns without fully understanding how mutual funds work, how portfolio allocation affects risk, or the difference between short-term performance and long-term consistency.
Investment analysts frequently caution that past performance does not guarantee future returns. A number of market participants and retail investors discussing mutual fund performance online have repeatedly highlighted the importance of patience, diversification, and long-term investing rather than chasing short-term gains.
Discussions across investment communities and financial forums also reflect growing awareness among younger investors that professionally managed funds may offer more structure and discipline compared with speculative trading or emotional stock picking.
Another important issue is concentration. The top 10 equity mutual funds collectively manage N88.31 billion, representing approximately 40.82% of the entire equity mutual fund segment.
That concentration suggests investor capital is increasingly flowing toward a relatively small number of high-performing funds. While this may reflect investor confidence in established fund managers, it also highlights the intense competition within Nigeria’s relatively small equity mutual fund industry.
WHAT’S BEING SAID
Analysts within Nigeria’s investment industry continue to describe 2026 as one of the strongest periods for equity-based investments in recent years. The rally across banking, industrial, and energy stocks has created favourable conditions for actively managed equity funds.
Several market observers have pointed to reforms within Nigeria’s foreign exchange market, stronger banking sector earnings, and renewed investor activity on the Nigerian Exchange as major drivers behind the performance surge. Industry discussions also increasingly focus on the role mutual funds can play in expanding financial inclusion and improving long-term wealth creation among retail investors.
Some analysts believe the rapid growth in unitholders demonstrates rising financial literacy and increasing awareness of investment products beyond traditional savings accounts. At the same time, experts continue to warn investors against making decisions solely based on short-term returns. Fund managers and investment advisers repeatedly emphasise the importance of understanding risk profiles, investment horizons, management fees, and portfolio composition before committing capital.
There is also growing conversation around the future structure of Nigeria’s investment market. As more young Nigerians embrace digital investment platforms and mobile financial services, analysts expect participation in mutual funds to continue rising over the next few years.
The expansion of fintech-driven investment access is making it easier for retail investors to enter markets that were previously dominated by institutional players and high-net-worth individuals.
WHAT’S NEXT
The outlook for Nigeria’s equity mutual fund industry will depend heavily on broader market conditions during the remainder of 2026. If Nigerian equities maintain their current momentum, investor participation in equity funds could continue expanding rapidly.
The banking sector is expected to remain one of the key drivers of market performance, particularly as investors continue monitoring earnings growth, recapitalisation activities, and dividend payouts. Industrial and energy companies are also likely to remain central to fund allocations.
At the same time, market volatility remains a major factor. Global oil prices, exchange-rate movements, inflation trends, and monetary policy decisions from the Central Bank of Nigeria will continue influencing investor sentiment. Potential regulatory developments from the Securities and Exchange Commission could also shape the future direction of the mutual fund industry.
Another major trend to watch is digital investment adoption. Fintech platforms and online wealth management services are increasingly simplifying access to investment products for younger Nigerians.
This could significantly expand the retail investor base over the next few years. Industry analysts also expect stronger competition among fund managers as firms attempt to attract new investors through performance, transparency, digital accessibility, and lower entry barriers. The race for investor confidence within Nigeria’s mutual fund industry is becoming more intense.
BOTTOM LINE
Nigeria’s equity mutual fund market is no longer operating quietly in the background of the financial industry. The extraordinary returns recorded by several funds in 2026 have pushed the segment into the spotlight and sparked renewed investor interest in equities. With the sector’s Net Asset Value climbing above N216 billion and unitholder participation approaching 100,000 investors, the industry is entering a new phase of visibility and growth.
The performance of funds such as Zedcrest Equity Fund, ZroskMagna Equity Fund, and Paramount Equity Fund reflects both the opportunities and risks that define equity investing.
For investors seeking stronger long-term wealth creation, equity mutual funds are increasingly becoming difficult to ignore. But the sector’s rapid growth also reinforces a critical reality: high returns come with higher risk.
As more Nigerians search for ways to stay ahead of inflation and build long-term financial security, the balance between opportunity and risk will remain central to the future of Nigeria’s evolving investment landscape.
Dr. Adebowale Adedokun, Director-General of the Bureau of Public Procurement (BPP), says the Nigeria First policy prioritizes local firms without excluding foreign investors.
The policy applies domestic preference to sectors including automobile, furniture, information technology, and apparel.
Local firms must still meet global quality standards and remain competitive to receive consideration.
Projects valued below N50 million will soon be reserved exclusively for SMEs within the local community where the project is located.
The BPP is enforcing stricter contractor classification to ensure firms grow progressively based on their verified capacity.
Main Story
The Bureau of Public Procurement (BPP) has clarified that the federal government’s Nigeria First policy is a strategic measure to bolster domestic industry rather than a move toward isolationism.
Speaking in Abuja on Sunday, May 10, 2026, Director-General Dr. Adebowale Adedokun explained that the policy grants qualified local firms the “first offer of refusal” for government projects.
He emphasized that while the law allows for domestic preference, Nigeria remains an active participant in the global economy, and foreign businesses are still permitted to compete where local capacity is unavailable or non-competitive.
Adedokun noted that the policy is being implemented through legal instruments rather than just executive orders, giving it stronger enforcement backing.
The bureau is currently sectorizing these preferences, with a strict mandate that government agencies must prioritize Nigerian-assembled vehicles and locally manufactured furniture and apparel.
Furthermore, a new community-based procurement initiative will reserve all projects valued under N50 million for small and medium enterprises (SMEs) situated within the immediate locality of the project, preventing outside contractors from taking smaller community jobs.
The Issues
Local firms often struggle to match the technical scale of international conglomerates, making “capacity building” a critical prerequisite for the policy’s success.
There is a risk that “domestic preference” could be misinterpreted as a guaranteed contract, potentially leading to a drop in quality if competitiveness is not strictly enforced.
Implementing community-based procurement for projects under N50 million requires robust local monitoring to ensure funds are used effectively by neighborhood SMEs.
What’s Being Said
“We are not shutting out foreign businesses. The law allows us to have what is called domestic preference,” stated Dr. Adebowale Adedokun.
“The option we are giving is to say, can we give Nigerians the first offer of refusal in partaking in those projects?” Adedokun added.
Regarding the N50 million cap, he noted: “A contractor from Abuja cannot go to another community and collect such jobs.”
What’s Next
The BPP will soon officially unveil the operational guidelines for community-based procurement across the country.
Increased collaboration with agencies like NASENI and the Bank of Industry will continue to support local production in the solar and electric vehicle sectors.
Stricter contractor classification will be enforced to ensure firms only bid for projects that match their documented experience level.
Bottom Line
The Nigeria First policy seeks to turn public procurement into a lever for local industrial growth, provided Nigerian firms can meet the high standards required to compete on the global stage.
Nigeria’s external reserves declined by approximately $855 million between April 1 and May 7, 2026.
Data from the Central Bank of Nigeria (CBN) showed reserves fell from $49.18 billion to $48.33 billion within the five-week period.
Despite the decline, reserve levels remain more than $10 billion higher than the same period in 2025.
Analysts say the reserves remain critical for naira stability, import financing, debt obligations, and investor confidence.
Main Story
Nigeria’s external reserves recorded a sustained decline over the past five weeks, shedding about $855 million amid renewed pressure in the foreign exchange market.
Latest figures released by the Central Bank of Nigeria showed that gross external reserves fell from $49.18 billion on April 1, 2026, to $48.33 billion as of May 7, 2026.
The decline represents a drop of about 1.74% over a 36-day period and signals mounting demand pressure on Nigeria’s foreign exchange buffers despite ongoing monetary and foreign exchange reforms.
According to the CBN data, reserves fell consistently throughout April. The balance declined from $49.133 billion on April 2 to $48.940 billion on April 7 before dropping further to $48.675 billion by April 15. External reserves later weakened to $48.541 billion on April 20 and closed the month at $48.364 billion before settling at $48.325 billion on May 7.
The latest depletion comes after months of relative improvement in Nigeria’s reserve position, driven largely by reforms introduced under the administration of Bola Ahmed Tinubu, and tighter monetary policy measures implemented by the apex bank.
Foreign portfolio inflows, improved oil export earnings, reduced import demand, and efforts to improve transparency in the foreign exchange market had previously supported reserve accretion. The reserves had earlier climbed above $50 billion in March 2026, marking one of the country’s strongest reserve positions in recent years before the latest reversal.
However, despite the recent decline, Nigeria’s reserve position remains significantly stronger on a year-on-year basis. CBN figures showed reserves stood at $38.17 billion in early April 2025 and declined to $37.93 billion by the end of that month. This means current reserve levels are still more than $10 billion higher compared to the same period last year.
What’s Being Said
Market analysts say the decline in reserves may reflect increased foreign exchange interventions, external debt servicing obligations, and sustained demand for dollars from importers and investors.
Economists also note that reserve movements are closely monitored by investors because they provide a measure of the country’s ability to defend the naira, finance imports, and meet international payment obligations.
“External reserves remain one of the strongest indicators of macroeconomic stability and investor confidence in emerging markets,” analysts at several Lagos-based investment firms have noted in recent market commentaries.
The CBN has not yet issued an official explanation for the latest depletion in reserves.
What’s Next
Attention will now shift to whether Nigeria can sustain foreign exchange inflows through stronger crude oil earnings, increased non-oil exports, diaspora remittances, and renewed foreign investor participation.
The CBN had previously projected that external reserves could rise to $51 billion by the end of 2026 as part of its medium-term macroeconomic stabilisation strategy.
Analysts expect the apex bank to continue balancing exchange-rate stability with liquidity management as authorities attempt to sustain confidence in the foreign exchange market.
Bottom Line
Although Nigeria’s external reserves have declined sharply over the past five weeks, the country’s reserve position remains considerably stronger than last year’s levels. The latest trend, however, highlights the continuing pressure on Nigeria’s foreign exchange market and the importance of sustained inflows to preserve naira stability and broader investor confidence.
The Federal Executive Council (FEC) approved three Public-Private Partnership (PPP) projects focused on transport data and port energy.
A Smart National Transport Data Bank will be developed under the Nigerian Institute of Transport Technology (NITT).
Two Independent Power Projects (IPPs) were approved for the Onne and Apapa Port Complexes.
The Onne Port project features a 50-megawatt power plant, while Apapa will receive a 36-megawatt hybrid energy system.
Dr. Jobson Ewalefoh, Director-General of the ICRC, stated the projects aim to unlock private capital and improve trade efficiency.
Main Story
The Federal Executive Council has granted approval for three strategic infrastructure projects to be executed through Public-Private Partnerships.
Announced by the Infrastructure Concession Regulatory Commission (ICRC) on Sunday, the projects are designed to modernize Nigeria’s transport intelligence and stabilize energy supply in major maritime hubs.
The ICRC conducted the required due diligence and certified the business cases before the FEC presentation, marking a push toward structured private sector involvement in national development.
The Smart National Transport Data Bank will serve as a digital intelligence platform, integrating data from road, rail, air, and marine systems.
It will utilize vehicle tagging and automated number plate recognition to aid traffic management and government planning. In the maritime sector, the new IPPs at Onne and Apapa are intended to eliminate operational bottlenecks caused by unreliable electricity.
By providing dedicated power to these ports and the surrounding free zones, the government aims to lower energy costs and strengthen Nigeria’s competitive edge as a regional trade hub.
The Issues
Reliable transport data is currently a major deficit in Nigeria, often leading to poorly planned infrastructure investments and weak enforcement.
Port operations at Apapa and Onne have long been hampered by high energy costs and frequent outages, which increase the overall cost of doing business.
The success of these PPPs depends on the ICRC’s ability to maintain regulatory oversight and ensure private partners deliver on the agreed-upon technical specifications.
What’s Being Said
“Nigeria’s biggest transport challenge is not just infrastructure; it is the lack of reliable, usable data,” stated Dr. Jobson Ewalefoh.
“These are not just power projects; they are productivity enablers,” Ewalefoh added regarding the port IPPs.
The ICRC noted that the approvals represent a “deliberate shift” toward unlocking private capital for measurable economic impact.
What’s Next
The NITT will begin the rollout of the digital data platform, including the installation of tracking and tagging technologies.
Construction on the 50MW Onne power plant and the 36MW Apapa hybrid system is expected to commence following final contractual signings.
The ICRC will monitor the implementation phases to ensure compliance with global best practices and value for money.
Bottom Line
By approving a national transport data bank and dedicated port power plants, the federal government is prioritizing data-driven planning and energy reliability to stimulate industrial growth.
Nigerian ports saw ocean-going vessel Gross Registered Tonnage (GRT) rise by 19.5% to 46.75 million in Q1 2026.
Total cargo throughput increased by 11.6% to 32.38 million metric tonnes, driven by Lekki Deep Sea Port and AfCFTA activities.
Outward laden containers grew by 67.6%, while transshipment containers surged by 83.1%.
A $1 billion overhaul of the Lagos Port Complex and Tin Can Island Port is currently underway.
Despite holding 60% of regional GDP, Nigeria currently handles only 25% of West Africa’s cargo.
Main Story
The Nigerian Ports Authority (NPA) has reported significant growth across key performance metrics for the first quarter of 2026. Managing Director Abubakar Dantsoho attributed the surge to port reforms, increased vessel sizes, and expanded regional trade.
Gross Registered Tonnage (GRT) for ocean-going vessels reached 46.75 million, a nearly 20% increase from the previous year.
This growth was particularly evident in container traffic, with outward laden containers jumping by 67.6% and transshipment volumes climbing by 83.1%, signaling Nigeria’s strengthening position as a regional transit hub.
To sustain this momentum, the federal government has initiated a $1 billion overhaul of the Lagos Port Complex and Tin Can Island Port. Minister of Marine and Blue Economy, Adegboyega Oyetola, confirmed that procurement is also ongoing for upgrades at the Warri, Port Harcourt, Onne, and Calabar ports.
The administration is banking on digitalization through the Port Community System and the National Single Window project to reduce delays and costs.
Dantsoho emphasized that while Nigeria dominates the region’s GDP, the goal is to close the gap in cargo handling, where the country still only manages a quarter of West Africa’s total volume.
The Issues
Bridging the “GDP-Cargo Gap” remains a priority; Nigeria’s economy is the largest in West Africa, yet port capacity has historically lagged behind regional competitors.
Integrating rail and inland dry ports is critical to solving the “last mile” problem of cargo evacuation and reducing congestion in port cities.
Sustaining the zero-piracy record under the Deep Blue Programme is essential for maintaining the confidence of international shipping lines and keeping insurance premiums low.
What’s Being Said
“Ports must evolve beyond old limits. Efficiency, speed and reliability will determine who leads African trade,” stated NPA Managing Director Abubakar Dantsoho.
“The time has come to fully utilise our marine resources. Ports can drive major economic growth if properly harnessed,” Dantsoho added.
Minister Adegboyega Oyetola noted that the National Single Window will help “reduce delays, lower costs and improve transparency in port operations.”
What’s Next
The $1 billion infrastructure overhaul in Lagos and Tin Can Island will move into more intensive construction phases following the signed MoU.
Implementation of the National Single Window is expected to go live in stages to begin digitizing port clearances.
Stakeholders will monitor whether the surge in transshipment containers leads to Nigeria becoming the primary hub for landlocked neighbors under AfCFTA.
Bottom Line
Record-breaking growth in Q1 2026 indicates that Nigeria’s maritime sector is rebounding, but the success of the $1 billion modernization plan will be the true test of its ability to lead West African trade.
Key points
NADF has commenced distribution of 100,800 bags of fertiliser to 25,200 smallholder farmers in five North-West states.
The intervention is being implemented under the...
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