NECA describes Nigeria’s Q2 2026 economic growth as encouraging but fragile.
Employers remain concerned about industrial slowdown, high costs and weak purchasing power.
Association calls for growth to translate into jobs, productivity and stronger household incomes.
Main Story
The Nigeria Employers’ Consultative Association (NECA) has welcomed Nigeria’s 4.43 per cent economic growth in the second quarter of 2026 but warned that the expansion has yet to translate into broad improvements for businesses and households.
NECA Director-General, Mr Adewale-Smatt Oyerinde, said in a statement on Tuesday in Lagos that the latest GDP figures pointed to gradual economic recovery rather than a full turnaround.
The National Bureau of Statistics (NBS) reported that the economy grew by 4.43 per cent year-on-year in Q2 2026, representing the strongest quarterly growth since the third quarter of 2024.
Oyerinde said the improvement in the headline figure and the economy’s second consecutive quarter of stronger growth were positive signs. However, he said conditions facing businesses remained difficult despite the broader expansion.
He pointed to a growing gap between GDP performance and the experience of businesses operating across the economy, questioning whether the reported growth was producing better operating conditions and improved living standards.
According to him, the slowdown in industrial growth remains a concern, particularly amid high energy costs, inadequate infrastructure and limited access to affordable credit.
Businesses are also dealing with weak consumer purchasing power and rising production costs, which continue to affect their ability to operate and expand.
Oyerinde said the composition of economic growth was equally important, arguing that Nigeria needed to strengthen productive sectors rather than rely heavily on consumption and services.
He called for greater investment in manufacturing, agro-processing and other productive activities capable of increasing the country’s productive capacity and competitiveness.
The NECA chief said the success of the ongoing economic reforms should ultimately be measured by their impact on businesses, employment and household incomes rather than GDP growth alone.
He said stronger productivity, decent job creation and improved incomes would provide clearer evidence that economic recovery was reaching Nigerians.
The Issues
The latest GDP figure shows stronger economic activity, but NECA is drawing attention to the quality and distribution of that growth.
For employers, persistent energy and infrastructure costs, expensive credit and weak consumer demand can limit the ability of businesses to benefit from an expanding economy. The industrial sector’s slower growth also points to continued constraints on productive activity.
The central question is therefore whether Nigeria can move from headline economic expansion to growth that increases productive capacity, supports businesses and improves household incomes.
What’s Being Said
“It is, however, not a sign of full recovery but gradual recovery,” — Mr Adewale-Smatt Oyerinde, Director-General, NECA.
“A major concern remains the distortion between the GDP figures and the real conditions of businesses across sectors,” — Mr Adewale-Smatt Oyerinde, Director-General, NECA.
“For employers, the message is a mixed bag of optimism,” — Mr Adewale-Smatt Oyerinde, Director-General, NECA.
“The nation needs a definitive shift from consumption and services-led expansion towards manufacturing, real investment, agro-processing and productive enterprise growth,” — Mr Adewale-Smatt Oyerinde, Director-General, NECA.
“The Q2 2026 GDP figure is a positive signal of a recovering economy. However, the slowdown in industrial growth points to the fact that recovery is still fragile.” — Mr Adewale-Smatt Oyerinde, Director-General, NECA.
“The priority should now be to convert GDP growth into productive, visible and inclusive impact,” — Mr Adewale-Smatt Oyerinde, Director-General, NECA.
What’s Next
NECA is urging policymakers to focus on measures that reduce the cost of doing business, strengthen productive sectors and improve access to infrastructure and affordable finance.
The coming quarters will also provide a clearer test of whether economic growth can translate into stronger industrial activity, employment, business competitiveness and household incomes.
Bottom Line
Nigeria’s 4.43 per cent Q2 GDP growth signals continued economic expansion, but NECA says the recovery remains fragile. For employers, the more important test is whether growth begins to produce stronger businesses, more jobs, higher productivity and better incomes.
Nutrition expert Prof. Kola Anigo says Nigeria needs a broader strategy to reduce anaemia among pregnant women.
He recommends combining MMS with dietary improvement, food fortification and community engagement.
He calls for stronger state and local government ownership of nutrition programmes.
Main Story
Nigeria needs a coordinated approach that combines micronutrient supplementation, improved diets, food fortification and community participation to reduce anaemia among pregnant women, a nutrition expert has said.
Prof. Kola Anigo, National Coordinator, Academic and Research Network, Scaling Up Nutrition in Nigeria (ARN-SUNN), made the recommendation in Abuja at a media roundtable organised by Civil Society-Scaling Up Nutrition in Nigeria (CS-SUNN).
Speaking on the technical considerations involved in introducing Multiple Micronutrient Supplements (MMS) through routine antenatal care, Anigo said anaemia had several nutritional and health-related causes and should not be addressed solely as an iron deficiency problem.
He identified poor diets, food insecurity and infections among factors that could contribute to anaemia, making a broader intervention necessary.
MMS, he said, could provide a wider range of nutrients than conventional iron-folic acid supplementation because it contains 15 micronutrients compared with the two nutrients provided by the traditional approach.
Anigo said the Federal Ministry of Health and Social Welfare had developed a roadmap for incorporating MMS into routine antenatal care. However, he stressed that implementation would depend largely on state-level planning.
States, he said, would need clear arrangements covering procurement, distribution and delivery through health facilities.
He also warned that supplying MMS would not automatically translate into consistent use by pregnant women. Public awareness, community mobilisation and effective counselling by healthcare workers would therefore be necessary to ensure uptake.
According to Anigo, communities should play a direct role in generating awareness, particularly among women in underserved areas, while health workers should receive adequate training to explain the benefits and correct use of the supplements.
He described successful MMS implementation as a package requiring more than procurement, including service readiness, trained personnel, community participation and demand generation.
The nutrition expert also called for greater ownership of nutrition interventions by states and local governments, arguing that federal policies would have limited impact without effective implementation at the local level.
Anigo said food fortification should remain part of Nigeria’s medium-term response to micronutrient deficiencies, while improving dietary diversity would provide a longer-term solution.
He, however, cautioned that conventional fortification programmes might fail to reach some rural households, particularly communities where subsistence farmers consume a significant proportion of food produced locally.
Fortified products may be available in markets, he said, without reaching households that cannot afford to buy them.
He therefore proposed exploring local solutions, including fortification at community milling points, to reach populations that process their own staple foods.
Anigo said nutrition interventions should be designed around Nigeria’s food systems and economic realities rather than adopting approaches from other countries without adapting them to local conditions.
He said improving dietary diversity remained essential but would require sustained efforts to make nutritious foods both available and affordable.
The Issues
The challenge extends beyond providing pregnant women with supplements. Anigo’s argument is that anaemia has multiple determinants, meaning supplementation alone may not address the full problem.
Implementation is another major concern. The success of MMS will depend on procurement and distribution, but also on whether health facilities are prepared, health workers are trained and women receive enough information and support to use the supplements consistently.
The limits of conventional food fortification also raise questions about how nutrition programmes can reach rural households that depend heavily on food produced outside formal commercial markets.
What’s Being Said
“It’s not all anaemia that is a result of iron deficiency,” — Prof. Kola Anigo, National Coordinator, Academic and Research Network, Scaling Up Nutrition in Nigeria.
“The issue of demand generation is a key activity, a key component of the implementation plan,” — Prof. Kola Anigo, National Coordinator, Academic and Research Network, Scaling Up Nutrition in Nigeria.
“It’s not just because when it comes to the issue of policy and plan, Nigeria, we can stand at number one. But the critical issue is implementation,” — Prof. Kola Anigo, National Coordinator, Academic and Research Network, Scaling Up Nutrition in Nigeria.
“Every country must look at its own problem and be intentional in trying to solve that problem,” — Prof. Kola Anigo, National Coordinator, Academic and Research Network, Scaling Up Nutrition in Nigeria.
What’s Next
States and local governments will need to translate the national MMS roadmap into practical implementation plans covering procurement, distribution, health facility readiness and community mobilisation.
Policymakers and programme implementers will also need to strengthen dietary and food fortification interventions while developing approaches capable of reaching underserved and rural populations.
Bottom Line
Nigeria’s response to anaemia among pregnant women will require more than micronutrient supplementation. An integrated strategy combining MMS, better diets, appropriate food fortification and community-level implementation is needed to address both the immediate and underlying causes of the problem.
President Bola Tinubu has congratulated Vice-President Kashim Shettima on his 60th birthday.
Tinubu praised Shettima’s record in banking, public service and economic coordination.
The President said Shettima’s loyalty and support remained important to the administration.
Main Story
President Bola Tinubu has marked Vice-President Kashim Shettima’s 60th birthday by praising his contribution to the administration and describing him as a trusted partner in governance.
Shettima turns 60 on September 2. In a statement issued personally on Tuesday in Abuja, Tinubu commended the Vice-President’s career in banking and public service, including his tenure as governor of Borno State and his service as Vice-President.
The President said Shettima had demonstrated courage, diligence and compassion throughout his public career, while maintaining a commitment to improving the lives of Nigerians.
Tinubu also highlighted Shettima’s responsibilities as Chairman of the National Economic Council, saying he had provided purposeful leadership in coordinating economic policies and supporting effective economic management.
According to the President, Shettima has also helped strengthen cooperation between the Federal Government and state governments in addressing national challenges and pursuing development priorities.
Tinubu further praised the Vice-President’s commitment to constitutional governance and democratic institutions, as well as his preference for dialogue and consultation.
The President said Shettima’s support for the All Progressives Congress (APC) and the administration’s Renewed Hope Agenda had remained important to the government.
Tinubu also extended his congratulations to Shettima’s wife, Nana, his children, other family members and political associates as the Vice-President reached the milestone.
He expressed confidence that their partnership would continue to contribute to the government’s efforts to deliver its programmes and advance national development.
The Issues
Shettima’s birthday tribute also provides an assessment from the President of the Vice-President’s role in the administration. Tinubu particularly pointed to his responsibilities in economic coordination, relations between federal and sub-national governments, and support for the Renewed Hope Agenda.
What’s Being Said
“Today, I warmly congratulate Vice-President Kashim Shettima, my brother and partner in steering the ship of our state, on his 60th birthday on September 2.” — President Bola Tinubu.
“Kashim is not just a trusted ally or a valued colleague, but also a patriot whose life has been defined by service, commitment and sacrifice for worthy causes.” — President Bola Tinubu.
“In both capacities, Kashim has demonstrated courage, diligence, compassion and an abiding commitment to improving the lives of the people.” — President Bola Tinubu.
“As a trusted partner, his loyalty, wisdom and sense of duty have remained invaluable to the administration.” — President Bola Tinubu.
“I must thank Vice-President Shettima for his steadfast support and partnership as we continue to join hands in delivering the promises of Renewed Hope to Nigerians.” — President Bola Tinubu.
What’s Next
Shettima will continue in his role as Vice-President and Chairman of the National Economic Council, with responsibility for supporting the administration’s economic coordination and broader governance agenda.
Bottom Line
President Tinubu used Shettima’s 60th birthday to publicly recognise his contribution to the administration, particularly his role in economic coordination and intergovernmental relations. He also reaffirmed the importance of their partnership in pursuing the government’s development agenda.
Alimosho General Hospital targets ₦250 million to procure critical medical equipment.
Hospital reports expanded diagnostic services and other upgrades under new management.
Fundraising will support specialist services, including mammography and dialysis expansion.
Main Story
Alimosho General Hospital, Igando, has appealed to individuals and organisations for ₦250 million to fund new equipment and expand specialist healthcare services at the facility.
The appeal was made at the hospital’s 2026 Donors’ Appreciation Day, where management outlined areas requiring additional investment as patient numbers continue to increase.
Medical Director, Dr Akinyele Akinlade, said the hospital had already begun upgrading its clinical services since he assumed office in May.
One of the changes has been the introduction of bedside cardiac diagnostics. The hospital acquired an electrocardiogram machine and assigned a technician to operate it, enabling patients who are unable to leave their wards to receive the service.
The hospital has also increased its capacity for echocardiography following the acquisition of a new echocardiogram machine. According to Akinlade, the number of monthly echo examinations has risen from about 20 to roughly 100.
Laboratory services have equally been expanded, with tests such as HbA1c now available 24 hours a day. The medical director said this would help patients avoid having to pay private facilities for tests that can now be carried out within the hospital.
Other improvements include additional physiotherapy equipment, three automated delivery beds and a fast-track clinic. More than 90 per cent of the facility’s suspended ceilings have also been renovated.
Despite these upgrades, the hospital is seeking further funding for equipment and infrastructure needed to broaden its specialist services.
Dr Rukayat Bakare, Chairman of the Alimosho and Friends Committee, said the growing healthcare needs of Lagos residents made support from private individuals and organisations necessary.
She said previous donations had helped finance emergency operations, purchase medicines and settle medical expenses for patients who could not afford treatment.
The committee said part of the new ₦250 million target would go towards a ₦60 million automated tissue processor, as well as mammography and upgraded X-ray equipment.
Expansion of the dialysis centre to 20 beds is also included among the projects to be funded.
Chairman of the event, Dr Olushola Odunuga, Commissioner II at the Lagos State Health Service Commission, said previous contributions had made a difference to patients struggling to meet their medical expenses.
He called for continued support from individuals and organisations to complement government funding and improve access to healthcare.
The hospital also recognised donors whose contributions have supported medical treatment and humanitarian interventions at the facility.
Among those recognised were Supreme Centre of God, Muslim Volunteer Foundation, Sisters of Grace, Deep Living Saints, Treasure Peace and The Wisha Foundation.
The Issues
The fundraising campaign highlights the hospital’s need for additional equipment and infrastructure to keep pace with patient demand. The proposed investments target diagnostic capacity, specialist services and dialysis care, while existing donations have helped offset treatment costs for patients unable to pay.
What’s Being Said
“Government alone cannot shoulder the health needs of our teeming population.” — Dr Rukayat Bakare, Chairman, Alimosho and Friends Committee.
“We have procured a modern electrocardiogram machine with a dedicated technician.” — Dr Akinyele Akinlade, Medical Director, Alimosho General Hospital.
“We also acquired a new echocardiogram machine, increasing monthly echo tests from 20 to approximately 100.” — Dr Akinyele Akinlade, Medical Director, Alimosho General Hospital.
“This prevents out-of-pocket costs for patients who would otherwise seek such services at private centres.” — Dr Akinyele Akinlade, Medical Director, Alimosho General Hospital.
What’s Next
The hospital will seek contributions from individuals, organisations and other stakeholders towards the ₦250 million target. The funds are expected to support the acquisition of priority diagnostic equipment, upgrades to existing services and expansion of the dialysis centre.
Bottom Line
Alimosho General Hospital is seeking ₦250 million to expand its medical equipment and specialist services as patient demand rises. The campaign builds on recent investments in diagnostics, laboratory services and other clinical facilities.
Afreximbank has announced five senior leadership appointments across Africa and the Caribbean.
The appointments cover client relations, regional operations and the Bank’s Caribbean office.
The Bank says the changes will strengthen market coverage, client engagement and transaction execution.
Main story
The African Export-Import Bank (Afreximbank) has announced senior leadership appointments and confirmations aimed at strengthening its regional operations and deepening engagement with clients across Africa and the Caribbean.
The Bank said the appointments were part of efforts to support its growth ambitions and accelerate intra-African trade, industrialisation and regional integration.
Eric Intong Monchu has been appointed Group Managing Director, Client Relations and Regional Operations, based in Cairo, Egypt, after serving in the position in an acting capacity.
In his new role, he will oversee client relations and regional operations, with responsibility for improving coordination among business development, client coverage and transaction execution.
Kudakwashe Matereke has been appointed Director, Regional Operations, Anglophone West Africa, based in Abuja, Nigeria.
Matereke previously served as Director, Regional Operations, East Africa. He brings experience in trade finance, business development and client relationship management and will oversee regional business development, client coverage and stakeholder engagement.
Humphrey Nwugo has been appointed Director, Regional Operations, Eastern Africa, based in Kampala, Uganda.
Nwugo previously held a similar regional operations role in Southern Africa. He will oversee regional operations, market coverage and client engagement in Eastern Africa.
Peter Adeshola Olowononi has been appointed Director, Regional Operations, Southern Africa, based in Harare, Zimbabwe.
Olowononi previously served as Director, Client Relations, Anglophone West Africa. He will lead the Bank’s operations and strategic engagement across Southern Africa, drawing on his experience in client coverage, transaction origination and regional business development.
Roy Reid has been appointed Chief Operating Officer of the Caribbean Office in Bridgetown, Barbados, effective July 15, 2026.
Reid previously served as Senior Advisor at the Office of the Prime Minister of Jamaica. He brings more than 20 years of experience spanning government advisory, financial services, investment management, fintech and business development.
Afreximbank said the appointments would strengthen the links between client coverage, regional operations and transaction execution.
It said most of the appointees had progressed from within the Bank, giving them institutional knowledge, established client relationships and an understanding of its strategic priorities.
The issues
The appointments come as Afreximbank seeks to expand its market coverage and strengthen its operations across Africa and the Caribbean.
The Bank said stronger coordination between regional operations, client relations and transaction execution would help improve its responsiveness to market needs and support its trade and development objectives.
The appointments also place senior executives in key regional markets, including Anglophone West Africa, Eastern Africa, Southern Africa and the Caribbean.
What’s being said
“These appointments highlight the depth of leadership and professional talent within Afreximbank, as well as our commitment to placing experienced executives at the centre of executing the Bank’s development mandate: a mandate to change the structure of African trade.” – Dr George Elombi, President and Chairman of the Board of Directors, Afreximbank.
“Each appointee brings valuable experience and deep knowledge of African and Caribbean markets.” – Dr George Elombi, President and Chairman of the Board of Directors, Afreximbank.
What’s next
The newly appointed executives are expected to take forward Afreximbank’s regional business development, client engagement and transaction execution activities in their respective markets.
The Bank said the strengthened leadership structure would support its growth, trade and development targets across Africa and the Caribbean.
Bottom line
Afreximbank has strengthened its senior leadership across key African regions and its Caribbean operations as it seeks to expand market coverage and deepen client engagement.
The appointments bring experienced executives into strategic regional roles, with the Bank expecting the changes to support faster execution of its trade and development mandate.
NUPRC says the $300 Helicopter Levy for Air Navigational Services remains payable to NAMA.
The commission says Terminal Navigational Charge does not apply to offshore helicopter operations supporting upstream petroleum activities.
The clarification follows concerns raised by industry stakeholders over aviation-related charges.
Main story
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified that the $300 Helicopter Levy for Air Navigational Services remains payable to the Nigerian Airspace Management Agency (NAMA), while the Terminal Navigational Charge (TNC) does not apply to offshore petroleum operations.
The commission disclosed this in a circular signed by its Chief Executive, Mrs Oritsemeyiwa Eyesan, following concerns raised by stakeholders in the upstream petroleum sector over the introduction and implementation of the levy and other aviation-related charges.
The concerns prompted the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, to constitute a Ministerial Review Committee on March 9 to examine the charges affecting petroleum operations.
Following the review, NUPRC said the TNC did not apply to helicopter landings at private offshore facilities and platforms where the operations were in support of upstream petroleum activities.
The commission, however, said the TNC remained applicable to helicopter operations that were not related to upstream petroleum activities.
Such operations include medical evacuation, private charter services and agricultural activities, according to the commission.
NUPRC said the clarification was intended to distinguish helicopter operations supporting upstream petroleum activities from other commercial and private operations.
The commission said the $300 Helicopter Levy for Air Navigational Services remained payable to NAMA.
The clarification provides greater certainty for upstream petroleum operators over the aviation charges applicable to their offshore activities.
The issues
The clarification addresses concerns over the scope of aviation-related charges imposed on helicopter operations in the upstream petroleum sector.
While the $300 Helicopter Levy remains payable, NUPRC has distinguished it from the TNC, which it said does not apply to helicopter landings at private offshore facilities when the flights support upstream petroleum operations.
The distinction is significant for operators because the TNC continues to apply to helicopter operations outside upstream petroleum activities.
What’s being said
“The TNC did not apply to helicopter landings at private offshore facilities and platforms when such operations support upstream petroleum activities.” – Oritsemeyiwa Eyesan, NUPRC Chief Executive
“The $300 Helicopter Levy for Air Navigational Services remains payable to NAMA.” – NUPRC
What’s next
Upstream petroleum operators are expected to apply the clarified distinction when determining the aviation charges applicable to their helicopter operations.
The clarification should also guide stakeholders and relevant agencies in implementing the charges following the review of aviation-related fees affecting offshore petroleum activities.
Bottom line
NUPRC has maintained that upstream operators must continue to pay the $300 Helicopter Levy, but clarified that the TNC does not apply to offshore helicopter operations supporting petroleum activities.
The decision draws a clearer line between petroleum-support operations and other helicopter activities subject to the terminal charge.
Russia says it will expand scholarship opportunities for Tunisian students.
The scholarships will cover tuition, accommodation, healthcare, travel and living expenses.
Moscow plans to increase government-funded scholarships for foreign students from 2,000 to 5,000.
Main story
Russia says it will expand its scholarship programme for Tunisian students as part of efforts to strengthen higher education cooperation between the two countries.
Russian Minister of Science and Higher Education, Valery Falkov, disclosed this on Tuesday, according to local media reports.
Falkov said the scholarships would fully cover tuition, accommodation, healthcare, travel and living expenses, making Russian higher education more accessible to Tunisian students.
He said Moscow was also prepared to consider proposals from Tunisia, particularly initiatives aimed at supporting outstanding students.
The minister announced plans to gradually increase the quota of government-funded scholarships for foreign students from 2,000 to 5,000 in the coming years.
He urged Tunisia to submit additional proposals to deepen cooperation in higher education, including the establishment of branches of Russian universities in the country.
Falkov cited the Cairo branch of Kazan Federal University as an example of successful international academic cooperation, saying the model could be replicated in other countries.
According to the minister, about 200,000 foreign students are currently enrolled in Russian universities.
He added that 35 branches of Russian universities had been established abroad, with programmes covering areas including digitalisation, scientific research, medicine, pharmaceuticals and physics.
The initiative followed the conclusion of the fifth World Youth Summit in Kazan, which attracted about 250 delegates and 1,000 participants from 50 countries.
The issues
The proposed expansion reflects Russia’s efforts to increase access to its higher education system for international students and strengthen academic cooperation with other countries.
For Tunisia, the programme could provide students with access to fully funded university education, while the proposed establishment of Russian university branches could expand opportunities for students within the country.
Russia’s plan to increase government-funded scholarships for foreign students from 2,000 to 5,000 also indicates a broader effort to expand its international education programmes.
What’s being said
“Russia was ready to consider proposals from Tunisia, particularly initiatives aimed at supporting outstanding students.” – Russian Minister of Science and Higher Education, Valery Falkov.
What’s next
Tunisia is expected to submit proposals on areas for deeper higher education cooperation, including possible Russian university branches in the country.
Russia also plans to gradually increase its quota of government-funded scholarships for foreign students to 5,000 in the coming years.
Bottom line
Russia is expanding its scholarship programme for Tunisian students while seeking broader cooperation with Tunisia in higher education.
The initiative combines fully funded study opportunities with plans for greater academic mobility and the possible establishment of Russian university branches abroad.
PDP National Vice-Chairman, South South, Chief Daniel Orbih, has died.
His family confirmed that the former Edo PDP chairman died on Monday.
Former Governor Godwin Obaseki described his death as a significant loss to Edo and Nigeria.
Main story
The family of the Peoples Democratic Party (PDP) National Vice-Chairman, South South, Chief Daniel Orbih, has confirmed his death.
Orbih died on Monday, according to a statement issued by his family on Tuesday in Benin.
The statement, signed by Mr Francis Orbih on behalf of the family, described the deceased as a beloved brother, husband, father and uncle.
The family said his death was received with “profound sadness and a heavy heart”.
Orbih is survived by his wife, Mrs Florence Orbih, and his children, Ms Winifred Orbih and Dr Mildred Orbih, as well as his brothers, sisters and other members of his extended family.
The family appealed to relatives, friends and well-wishers to remember them in their prayers as they mourn the loss.
It said details of the burial and other arrangements would be announced in due course.
The News Agency of Nigeria (NAN) reports that Orbih was a former chairman of the PDP in Edo before becoming the party’s National Vice-Chairman, South South.
His death marks the loss of a longstanding figure in Edo and South South politics, following his years of involvement in the PDP and public affairs.
Former Edo Governor, Godwin Obaseki, had earlier described Orbih’s death as a significant loss to the state and Nigeria.
Obaseki said Orbih’s long years of engagement in public affairs had earned him a place in the political history of Edo.
He extended his condolences to Orbih’s wife, children, family members, political associates, colleagues and well-wishers.
The issues
Orbih’s death comes after decades of involvement in Edo and national politics, including his tenure as Edo PDP chairman and later as National Vice-Chairman of the party in the South South.
His political career made him a prominent figure within the PDP and the wider political landscape of the region.
What’s being said
“Profound sadness and a heavy heart” – The Orbih family.
“His long years of engagement in public affairs earned him a place in the political history of the state.” – Former Edo Governor, Godwin Obaseki.
What’s next
The Orbih family said further details concerning the burial and other arrangements would be announced in due course.
Family members, friends, political associates and well-wishers are expected to continue mourning and paying tribute to the late politician.
Bottom line
Chief Daniel Orbih, a former Edo PDP chairman and serving National Vice-Chairman, South South, has died.
His family has confirmed the death and called for prayers, while former Governor Godwin Obaseki described his passing as a significant loss to Edo and Nigeria.
Brent crude rose 3.7 per cent to $91.68 per barrel amid renewed US-Iran hostilities.
Concerns over shipping security in the Strait of Hormuz are raising the risk of supply disruptions.
A tanker was reportedly struck by three projectiles while leaving the strait off Oman.
Main story
Oil prices rose sharply on Tuesday as renewed hostilities between the United States and Iran heightened concerns over possible disruptions to crude shipments through the Strait of Hormuz.
Brent crude futures for December delivery rose 3.7 per cent to $91.68 per barrel, from $88.37 at the previous close.
US benchmark West Texas Intermediate (WTI) crude futures for October delivery also increased, trading at $86.90 per barrel compared with $85.76 previously.
The gains came as renewed US-Iran clashes increased security risks around the Strait of Hormuz, a major transit route for global oil supplies.
The latest escalation has raised concerns that attacks on shipping could disrupt the movement of crude and fuel through the waterway, potentially tightening physical oil markets.
US President Donald Trump said on Monday that the Strait of Hormuz remained in “extremely good shape”, claiming that US naval assistance had enabled an average of 30 ships to pass through the waterway each night.
However, the UK Maritime Trade Operations (UKMTO) reported early Tuesday that a tanker was struck by three unknown projectiles while exiting the Strait of Hormuz off Oman.
The incident has heightened concerns about the security of commercial shipping in the area, even if the waterway remains operational.
Higher security risks could increase shipping costs, delay tanker movements and encourage some operators to avoid the route.
Any prolonged disruption to shipping through the strait could place additional upward pressure on international oil prices because of its importance to global energy trade.
The latest developments followed weekend US strikes on Iran’s Larak Island, located near the Strait of Hormuz.
Iran subsequently launched retaliatory attacks on sites used by US forces in Jordan and the United Arab Emirates.
Trump said the United States would respond to the Iranian attacks on American forces.
Iran, meanwhile, warned that any location used to launch US attacks against its territory would be targeted.
The country accused Washington of continuing to use the territory, airspace and facilities of regional countries to conduct attacks against Iran.
The issues
The immediate concern for oil markets is whether the renewed US-Iran confrontation will result in sustained disruption to shipping through the Strait of Hormuz.
The waterway is critical to global energy trade, meaning prolonged disruption could restrict the movement of crude and fuel and push prices higher.
Even without a complete closure, increased security risks could raise insurance and transportation costs and cause delays for oil tankers.
The reported tanker attack has therefore increased the risk premium being priced into crude markets.
What’s being said
“We’re going to hit them hard. There will be a response.” — Donald Trump, US President
“The Strait of Hormuz is in extremely good shape.” — Donald Trump, US President
What’s next
Oil markets will continue to monitor developments around the Strait of Hormuz and assess whether the latest hostilities result in sustained disruptions to crude and fuel shipments.
Further attacks on commercial vessels or restrictions on tanker movements could place additional upward pressure on oil prices.
A reduction in tensions and continued passage of vessels through the waterway, however, could ease some of the supply concerns currently supporting prices.
Bottom line
Oil prices are rising as renewed US-Iran hostilities increase fears of disruption to shipping through the Strait of Hormuz.
The reported attack on a tanker has added to those concerns, with the direction of crude prices likely to depend on whether the security situation develops into sustained disruption of global oil flows.
Nigeria Customs Service schedules physical screening and documentation for successful recruitment candidates
Shortlisted candidates must present original and photocopies of specified identification, educational and other supporting documents
Candidates must report on their assigned dates and comply with the prescribed dress code to avoid disqualification
Main Story
The Nigeria Customs Service (NCS) has scheduled physical screening and documentation for successful candidates enlisted into the Service at the Nigeria Customs Command and Staff College (NCCSC), Gwagwalada, Abuja.
The NCS announced the exercise in a press release issued on September 1, 2026, directing all shortlisted candidates to appear with the original and photocopies of required documents.
The documents include the National Identification Number (NIN), original birth certificate or declaration of age, and educational certificates covering O’Level, National Diploma (ND), Higher National Diploma (HND), degree or other applicable qualifications.
Candidates are also required to present a certificate of state of origin, two recent passport photographs, a completed guarantor’s form and an NYSC certificate, where applicable.
The Service directed candidates to wear a white T-shirt, shorts and canvas shoes for the physical screening exercise.
According to the NCS, candidates must report only on the date allocated to their respective states and cadres. Attendance is compulsory, and failure to appear as scheduled may result in disqualification from the recruitment process.
The Service said candidates who successfully complete the physical screening and documentation exercise will receive further instructions on subsequent stages of the recruitment process.
The recruitment exercise is being conducted under the leadership of Comptroller-General of Customs Bashir Adewale Adeniyi, MFR, and his management team. The NCS said it remains committed to conducting a transparent, fair and merit-based recruitment process.
What’s Being Said
“The Nigeria Customs Service, under the leadership of the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR and his management team, assures all candidates and the general public of a transparent, fair and merit-based recruitment process.” — Abdullahi Maiwada, Deputy Comptroller of Customs and National Public Relations Officer for the Comptroller-General of Customs.
The NCS also advised candidates to rely solely on its official communication channels for authentic information concerning the screening and documentation exercise.
What’s Next
Shortlisted candidates are expected to report to the Nigeria Customs Command and Staff College, Gwagwalada, Abuja, on the dates assigned to their respective states and cadres
Candidates who complete the screening and documentation successfully will receive further instructions from the NCS on the next stages of the recruitment process
Bottom Line:
The screening exercise is a mandatory stage of the Nigeria Customs Service recruitment process, making compliance with assigned dates, documentation requirements and dress-code instructions critical for shortlisted candidates. Candidates who fail to appear as scheduled risk losing their place in the recruitment process.
The Ekiti State Government is seeking to use cultural festivals to expand tourism and generate economic opportunities across the state.
Communities have been urged to formally register their cultural festivals with the Ekiti State Bureau of Tourism Development.
The government says registration will improve visibility, coordination, branding, legal recognition and preservation of cultural heritage.
The Epa Festival in Omuo-Ekiti has formally registered with the state government as part of the initiative.
Officials say well-promoted festivals can benefit hotels, transport operators, food vendors, event centres, fashion designers and other businesses.
Organisers of the Epa Festival want to transform Omuo-Ekiti into a tourism hub and attract visitors from Nigeria and abroad.
MAIN STORY
The Ekiti State Government has begun efforts to harness the economic potential of cultural festivals as part of its broader strategy to develop tourism in the state, The Director-General of the Ekiti State Bureau of Tourism Development, Wale Ojo-Lanre, said communities across the state had been encouraged to formally register their cultural festivals with the bureau.
Ojo-Lanre spoke in Ado-Ekiti on Tuesday during the formal registration of the Epa Festival in Omuo-Ekiti, According to him, registering festivals will help the government work with communities to improve their organisation, branding and visibility while also preserving Ekiti’s cultural heritage.
He said official registration would provide festivals with better coordination, consultancy and legal recognition while helping organisers maintain peace and order during major events, The government also believes that successful festivals can attract tourists and create business opportunities for people across different sectors of the local economy, Ojo-Lanre pointed to a recent cultural event in Ado-Ekiti that attracted more than 3,000 visitors as an example of the economic possibilities that could come from properly promoted festivals.
THE ISSUES
The major issue is how Ekiti can transform its cultural heritage into sustainable tourism and economic activity, The state government believes that increased tourist traffic could generate more business for hotels, transport operators, filling stations, event centres, food vendors, fashion designers and other service providers.
Ojo-Lanre also highlighted government investments and policies aimed at supporting tourism, including the completion of the Ekiti State International Cargo Airport, tourism policies, a tourism development master plan, improved security and infrastructure, and the establishment of the Bureau of Tourism Development.
The airport, he said, has helped improve access to the state and could encourage more visitors to travel to Ekiti, Another issue is the need for private-sector participation. The government says it can provide legislation, infrastructure, security and policy direction, but private investors will be essential in turning tourism opportunities into commercially successful ventures.
WHAT’S BEING SAID
Ojo-Lanre said the registration of cultural festivals would enable the government and communities to work together to develop festivals into major tourism events, He said the administration of Governor Biodun Oyebanji understands the economic value of tourism and has increasingly focused on festivals, carnivals and cultural events capable of attracting visitors.
The Chairman of Ekiti East Local Government, Oluwasegun Ojo, said the revival of the Epa Festival was driven partly by the desire of residents and young people to reconnect with their cultural heritage, The festival was last celebrated in 1982 before being revived in 2022, Ojo said organisers now want to move beyond simply celebrating the culture and develop the seven-day festival into a major tourism attraction capable of generating economic activity in Omuo-Ekiti.
He said hotels were fully booked during the previous edition and that organisers were working to attract Omuo-Ekiti indigenes living abroad. A committee has reportedly been established in the Americas to coordinate diaspora participation, Traditional chiefs in Omuo-Ekiti also welcomed the festival’s formal registration, saying state recognition could give it greater visibility and institutional support.
WHAT’S NEXT
The Ekiti State Bureau of Tourism Development is expected to continue working with communities to register and develop their cultural festivals, For the Epa Festival, organisers plan to expand the seven-day programme, increase publicity and attract visitors from other parts of Nigeria and the international community.
The success of the initiative will depend on how effectively the government and communities can combine cultural preservation with tourism promotion, infrastructure, security and private-sector investment, If properly developed, festivals could become recurring economic events that generate income for businesses and communities while promoting Ekiti’s cultural identity.
BOTTOM LINE
Ekiti State is positioning its cultural festivals as potential drivers of tourism and economic growth, By formally registering festivals and improving their organisation, visibility and infrastructure, the government hopes to attract more visitors and create opportunities for local businesses, The revival and registration of the Epa Festival could serve as an example of how community traditions can be transformed into recognised tourism attractions while preserving cultural heritage.
Big Brother initially set the BBNaija Season 11 cash prize at ₦100 million.
Housemates were warned that the prize could be reduced by ₦5 million whenever they failed to meet Big Brother’s expectations.
The full ₦100 million remained intact after Week 3.
A ₦5 million deduction in Week 4 reduced the prize to ₦95 million.
Another ₦5 million was deducted in Week 6 following underperformance and repeated rule violations.
The current cash prize now stands at ₦90 million.
The latest ₦5 million deduction has been added to the Most Influential Player Prize Pot.
MAIN STORY
The BBNaija Season 11 housemates are seeing their potential cash prize shrink after another ₦5 million was deducted from the season’s ₦100 million prize pool, At the beginning of Week 2, Big Brother informed the housemates that the ₦100 million cash prize was not guaranteed. Throughout the season, the house would be given opportunities to protect the prize through tasks, challenges and other activities.
Big Brother explained that the housemates’ performance, teamwork, commitment and ability to entertain would determine whether the prize remained intact, The first week brought good news, as the housemates successfully protected the entire ₦100 million, However, their fortunes changed in Week 4 when Big Brother deducted ₦5 million over what he described as transgressions and repeated violations of the House rules, That brought the prize money down to ₦95 million.
In Week 6, the housemates suffered another setback. Following a week of underperformance and further rule violations, Big Brother deducted an additional ₦5 million, The season’s available cash prize now stands at ₦90 million.
THE ISSUES
The fluctuating prize money has introduced another layer of pressure into the BBNaija competition, Housemates are not only competing for individual recognition and survival in the House but must also work collectively to protect the overall cash prize, The deductions are tied to the House’s collective performance, meaning individual misconduct or poor teamwork can potentially affect the amount everyone is competing for.
The introduction of BB Bucks has also added another form of currency to the game. Housemates earned BB Bucks through achievements, Heads of House tenures, Arena Games and Wager wins, The currency can be saved, spent or traded ahead of the opening of the BB Marketplace.
WHAT’S BEING SAID
Big Brother has repeatedly reminded the housemates that the ₦100 million prize was never guaranteed, The message has remained consistent, success protects the money, while failure comes with a financial consequence, After the first week, the housemates were praised for their commitment and contribution to the entertainment inside the House.
But subsequent deductions have shown that the warning was not merely theoretical, The latest deduction also gives the Most Influential Player Prize Pot an additional ₦5 million, making the individual prize pool another point of interest as the season continues.
WHAT’S NEXT
The housemates now have another opportunity to protect the remaining ₦90 million, With the possibility of further ₦5 million deductions, every task, wager, challenge and rule violation could have financial consequences, The opening of the BB Marketplace will also give the housemates an opportunity to use their accumulated BB Bucks through spending and trading, The biggest question going forward is whether the housemates can regain their momentum and prevent the prize from falling further.
BOTTOM LINE
The BBNaija Season 11 cash prize has dropped from its original ₦100 million to ₦90 million after two separate ₦5 million deductions, The housemates successfully protected the full prize early in the season, but underperformance and repeated rule violations have since cost them ₦10 million, With more weeks ahead, the remaining ₦90 million is still at risk.
Former Ijaw Youth Council President Udengs Eradiri has urged President Bola Tinubu to use savings from fuel subsidy removal to rehabilitate Nigeria’s government-owned refineries.
Eradiri rejected former Vice President Atiku Abubakar’s proposal to restore fuel subsidy, saying the policy failed to deliver meaningful relief to Nigerians.
He called for all government-owned refineries to operate at full capacity to increase domestic fuel supply and reduce petrol prices.
Eradiri also urged the Federal Government to strengthen local government autonomy and ensure council allocations go directly to local governments.
He proposed that the Independent National Electoral Commission conduct local government elections to reduce governors’ control over councils.
MAIN STORY
Former President of the Ijaw Youth Council, Udengs Eradiri, has called on President Bola Tinubu to redirect resources saved from the removal of fuel subsidy into rehabilitating Nigeria’s refineries and improving basic infrastructure at the grassroots, Eradiri made the call in a statement he personally signed and made available to journalists on Tuesday. He also rejected former Vice President Atiku Abubakar’s proposal to return to fuel subsidy, arguing that the policy failed to achieve its intended purpose of providing relief to Nigerians.
According to Eradiri, rather than restoring subsidy, the Federal Government should invest the resources saved from its removal in areas that can directly reduce the cost of living and improve citizens’ welfare, He identified the rehabilitation and full operation of government-owned refineries as an immediate priority, arguing that increased domestic fuel production could create excess supply, lower petrol prices and eventually reduce the cost of goods and services, Eradiri also suggested that the President could establish a separate Ministry of Refineries to give greater attention to the challenges affecting the country’s refineries.
THE ISSUES
A major issue raised by Eradiri is how the Federal Government is using the resources saved from fuel subsidy removal, While acknowledging the need for economic reforms, he argued that the benefits of those reforms must become more visible to ordinary Nigerians. He believes functioning domestic refineries could help reduce dependence on imported petroleum products and put downward pressure on petrol prices.
Another major concern is local government autonomy, Eradiri accused many state governors of frustrating the implementation of local government autonomy and preventing council funds from reaching local governments directly, He argued that allowing local governments to control their allocations would enable them to invest in community roads, farm roads and other infrastructure that could improve living conditions at the grassroots.
WHAT’S BEING SAID
Eradiri said he disagreed with Atiku Abubakar’s proposal to return to fuel subsidy, maintaining that the previous subsidy system did not provide the relief Nigerians were supposed to receive, He said the focus should instead be on creating enough domestic fuel supply to bring down prices and generate a wider reduction in the cost of goods and services.
On local governments, Eradiri argued that councils should operate as an independent tier of government and receive their allocations directly, He also proposed that local government elections be conducted by INEC, rather than state electoral bodies, as a way of reducing governors’ influence over council chairmen.
WHAT’S NEXT
The key question is whether the Federal Government will adopt Eradiri’s proposals as it continues implementing its economic reforms, Attention will remain on the performance of Nigeria’s government-owned refineries and whether increased domestic production can translate into lower petrol prices.
The implementation of local government autonomy will also remain an important issue, particularly regarding the direct disbursement and management of council allocations, If Eradiri’s proposals are adopted, local governments could potentially have greater resources to invest in roads and other basic infrastructure at the community level.
BOTTOM LINE
Udengs Eradiri is urging President Bola Tinubu to resist calls for a return to fuel subsidy and instead use the savings from its removal to strengthen domestic fuel production and improve grassroots infrastructure, His proposal combines refinery rehabilitation with stronger local government autonomy, arguing that both measures could help make the benefits of economic reforms more visible to ordinary Nigerians.
A Las Vegas jury has found Duane “Keffe D” Davis, 63, guilty of first-degree murder in the 1996 killing of Tupac Shakur.
The jury reached its verdict after less than three hours of deliberation.
Prosecutors argued that Davis orchestrated the shooting as retaliation after Tupac and his associates assaulted Davis’ nephew, Orlando Anderson.
Davis was not accused of personally pulling the trigger.
Davis faces a potential life sentence and has indicated that he plans to appeal.
MAIN STORY
Nearly three decades after Tupac Shakur was fatally shot in Las Vegas, the long-running murder case has reached its first major courtroom conclusion, A Nevada jury convicted Duane “Keffe D” Davis of first-degree murder with a deadly weapon for his role in the September 1996 killing of the legendary rapper.
Tupac was 25 when he was shot while riding in a BMW with Death Row Records founder Marion “Suge” Knight. He died six days later from his injuries, Prosecutors portrayed Davis, a former South Side Compton Crips gang leader, as the person who helped organize the attack. Their case relied heavily on statements Davis had made publicly over the years, including material from interviews and his memoir, The prosecution said the shooting was retaliation for an earlier confrontation involving Tupac, Knight and Davis’ nephew, Orlando Anderson, at the MGM Grand.
THE ISSUES
One of the central questions at trial was whether Davis’ repeated statements about his involvement were reliable, Davis had publicly discussed being inside the white Cadillac involved in the shooting and described his role in obtaining the weapon. Prosecutors argued that these statements supported their case against him.
The defense argued that Davis had exaggerated or fabricated aspects of his story over the years for attention and financial benefit, Another important issue is that the person who actually fired the fatal shots was not prosecuted in this case. Prosecutors argued that Davis could nevertheless be held legally responsible because of his role in organizing and facilitating the attack.
WHAT’S BEING SAID
The verdict has been described as a significant moment for Tupac’s family, fans and the wider hip-hop community, Tupac’s sister, Sekyiwa “Set” Shakur, became emotional after the verdict and embraced members of the prosecution team.
Davis has maintained that he plans to challenge the conviction. His defense is expected to pursue an appeal, The verdict has also renewed public discussion about one of the most enduring mysteries in hip-hop history: who actually fired the shots that killed Tupac.
WHAT’S NEXT
Davis is expected to remain in custody while the case moves toward sentencing, His sentencing is scheduled for October 13, 2026, where he could receive a life sentence, His defense is also expected to pursue an appeal, The conviction does not necessarily answer every question surrounding Tupac’s death, particularly the identity of the actual shooter and the complete circumstances surrounding the attack.
BOTTOM LINE
After nearly 30 years, Tupac Shakur’s murder has finally produced a criminal conviction, Duane “Keffe D” Davis has been found guilty of first-degree murder for his role in the attack. The verdict represents the biggest legal development in the case since Tupac’s death, but questions surrounding the actual gunman and the full chain of events remain.
Abi has won the Head of House title for the second time this season.
She becomes the first female housemate in the Show Ya Sef house to win HoH twice.
Abi chose Temi Nkem to join her in the HoH Loft.
Bells has become Benchwarmer again after rolling the lowest number.
Flora and Aikou have officially been released from their Gambit roles.
Only Abi and Sheba are safe from possible eviction; everyone else is up.
Main Story
Abi has reclaimed power in the Show Ya Sef house after winning the latest Head of House challenge, The competition went through several elimination rounds before narrowing down to Abi and Gerard. Despite another strong showing from Gerard, Abi held her nerve in the final round to secure the crown for the second time this season.
Her victory makes her the first female housemate to win the Head of House title twice in the house, Abi will also enjoy a new HoH privilege this week. For the first time this season, there was no Lucky Dip determining who would use the Loft. The Loft now belongs directly to the Head of House, Abi selected Temi Nkem to accompany her, Another major change means Abi will be allowed to compete in next week’s HoH challenge, despite winning this week.
The Issues
The biggest talking point is the sudden change to the HoH privileges and nomination structure, With the Loft now directly attached to the HoH position, Abi has gained both power and comfort at a particularly important stage of the competition, The decision to nullify the usual saves has also dramatically increased the stakes. With only Abi and Sheba protected, virtually the entire house is vulnerable to the public vote.
Gerard’s continued near-misses could also become a storyline to watch. He once again came close to becoming HoH but fell short at the final hurdle, Meanwhile, Bells’ return as Benchwarmer puts him in the position for the second time, adding another layer to his journey in the house.
What’s Being Said
Abi’s victory is shaping the conversation around the balance of power in the house, Her second HoH win strengthens her position and gives her another week at the centre of strategic conversations, The decision to choose Temi Nkem for the Loft will also attract attention as housemates assess what the pairing could mean for alliances and strategy.
The end of the Gambit chapter is another major development. Flora and Aikou are no longer operating under Biggie’s secret Gambit arrangement and can now compete fully for the grand prize, Most importantly, the house is facing a wide-open eviction battle, with almost every housemate now depending on the voting public.
What’s Next
Attention now turns to the nomination and eviction process, With Abi and Sheba as the only safe housemates, the remaining housemates will have to navigate a potentially dangerous week, The public vote could have a major impact on the dynamics inside the house, particularly for housemates who have been less visible or who have found themselves on the wrong side of alliances, Abi, meanwhile, will have the advantage of watching the house from the HoH position while preparing for another possible run at the crown next week.
Bottom Line
Abi is back on top, but her victory comes with more responsibility and greater influence than ever, With the usual saves cancelled and almost the entire house exposed to eviction, Day 36 has transformed the competition into a high-stakes battle for survival, The Gambit era is also officially over for Flora and Aikou, while Bells finds himself back in the Benchwarmer role.
The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1343 per $1 on Tuesday, Septermber 1st 2026. The naira traded as high as 1320 to the dollar at the investors and exporters (I&E) window on Monday. This is brought to you by Bizwatch Nigeria.
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1405 and buy at ₦1390 on Monday 31st August, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
₦1405
Buying Rate
₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN)
CBN Rate Today
Highest Rate
₦1343
Lowest Rate
₦1320
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
NGX All-Share Index gained 1.20% to close at 244,199.39 points
Market capitalisation increased by ₦1.91 trillion to ₦157.74 trillion as 43 stocks gained against 16 decliners
Sterling Financial Holdings and Coronation Insurance listed additional shares from private placements while Sunu Assurance and Sovereign Trust Insurance listed rights-issue shares
Main Story
The Nigerian Exchange (NGX) All-Share Index rose 1.20% on Monday to 244,199.39 points, while market capitalisation increased by ₦1.91 trillion to ₦157.74 trillion as investors returned to major banking, consumer goods and oil stocks.
The index gained 2,900.92 points from Friday’s 241,298.47 points, while the market’s year-to-date return strengthened to 56.93%. Trading activity also increased, with 606.19 million shares valued at ₦38.70 billion exchanged in 53,471 deals.
The market breadth was positive, with 43 stocks advancing against 16 decliners. Banking stocks led sectoral gains, rising 3.11%, followed by consumer goods at 1.72%, oil and gas at 1.35% and insurance at 0.88%. Industrial goods was the only major sector to decline, falling 0.65%.
The session also featured additional share listings from four financial institutions. Sunu Assurance listed 2.075 billion ordinary shares from its rights issue, while Sovereign Trust Insurance listed 2.511 billion shares from its rights issue.
Sterling Financial Holdings listed 2.573 billion ordinary shares from a private placement at ₦4.00 per share, while Coronation Insurance listed 4.534 billion ordinary shares from a private placement at ₦2.16 per share.
Accesscorp accounted for 20.90% of total trading volume, followed by GTCO, UBA, NB and Veritaskap. MTNN accounted for 14.80% of total traded value.
What’s Being Said
Proshare Research said the session reflected “a broader recovery in investor sentiment and reduced selling pressure across the market,” following the improvement in market breadth.
Market analysts are also watching whether the recovery can extend into September after the NGX experienced a three-week sell-off during August. Tribune reported that the August rally was not sufficient to prevent the index from recording a 0.44% monthly decline.
What’s Next
Investors will monitor whether the NGX can sustain the renewed buying interest during the opening sessions of September.
Market participants will also assess the effect of the newly listed shares on trading liquidity, valuations and sector performance.
Bottom Line
The Bottom Line: Monday’s rally restored momentum to the NGX at the close of August, but the broader monthly performance shows that investor confidence remains uneven. Sustained gains will depend on whether the renewed demand for large-cap stocks continues into September.
Oil refining growth accelerated to 43.94% year-on-year in Q2 2026, according to the National Bureau of Statistics
Dangote Refinery increased crude distillation capacity from 650,000 barrels per day to 700,000 barrels per day in February
Nigeria’s petroleum product exports rose sharply as domestic refining capacity expanded, with 350,000 barrels per day exported in Q2 2026
Main Story
Nigeria’s oil refining sector expanded by 43.94% year-on-year in the second quarter of 2026, its strongest growth under the rebased Gross Domestic Product series, as higher output from the Dangote Petroleum Refinery boosted domestic refining activity.
The National Bureau of Statistics (NBS) disclosed the growth in its Q2 2026 GDP report released on Monday, August 31, covering the rebased quarterly GDP estimates for 2025 and the first two quarters of 2026.
The performance followed the completion of maintenance and expansion work at the Dangote Refinery in February, which increased its crude oil distillation capacity from 650,000 barrels per day (b/d) to 700,000 b/d. The U.S. Energy Information Administration (EIA) said the expansion coincided with a significant increase in Nigeria’s petroleum product shipments.
NUPRC data also showed that 53.7 million barrels of crude oil and condensate were supplied to local refiners between April and June, representing 97.4% performance under the Domestic Crude Supply Obligation (DCSO). Dangote Refinery accepted 52.6 million barrels after producers offered 68.1 million barrels against its requirement of 63 million barrels.
The expansion in refining activity is increasingly affecting Nigeria’s petroleum trade. EIA data showed that seaborne petroleum product shipments averaged 561,000 b/d in Q2 2026, while exports accounted for 350,000 b/d. Exports to Europe averaged 130,000 b/d, while shipments to other African markets reached nearly 120,000 b/d.
What’s Being Said
“The Commission reaffirms its commitment to achieving the government’s objective of energy sufficiency.” Eniola Akinkuotu, Head, Media and Corporate Communications, Nigerian Upstream Petroleum Regulatory Commission.
The EIA said Nigeria’s higher petroleum product supply has reduced its reliance on imports while increasing exports, with the expansion at Dangote playing a central role in the change.
What’s Next
Dangote Group plans to add a second 750,000-b/d crude oil distillation unit by 2028, potentially doubling the refinery’s crude-processing capacity.
NUPRC is expected to continue enforcing the Domestic Crude Supply Obligation as domestic refining capacity and crude requirements increase.
Bottom Line
The Bottom Line: Nigeria’s refining growth is moving beyond import substitution into a more export-oriented petroleum trade model. The key test will be whether crude supply, refinery utilisation and regulatory enforcement can sustain the higher output as domestic capacity expands.
Nigeria’s economy is growing faster, but for many households, the improvement is difficult to see in their bank accounts, shopping baskets or monthly budgets. The economy expanded by 4.43 per cent in real terms in the second quarter of 2026, according to the National Bureau of Statistics (NBS), up from 3.89 per cent in the first quarter and 4.23 per cent in the same quarter of 2025. It was also the strongest quarterly growth since the third quarter of 2024.
On paper, that is encouraging news.
But for a Nigerian paying rent, buying food, commuting to work or trying to keep a small business running, a natural question follows:
If the economy is growing, why doesn’t life feel easier?
The answer is that economic growth and household financial wellbeing are related, but they are not the same thing.
GDP measures how much the economy produces. It does not tell us how much money an individual worker earns, how many Nigerians have good jobs, how much food costs or how much a household can buy with its income.
That distinction is crucial to understanding Nigeria’s latest GDP figures.
GDP growth does not mean everyone’s income has increased
Gross domestic product measures the value of goods and services produced within an economy over a given period.
When Nigeria’s real GDP grows by 4.43 per cent, it means economic output increased after accounting for price changes. It does not mean that salaries increased by 4.43 per cent, that businesses made 4.43 per cent more profit or that every Nigerian became 4.43 per cent richer.
This is one reason a country can report strong GDP growth while households continue to complain about the cost of living.
Consider a simple example.
If a country’s factories produce more, banks process more transactions, telecommunications companies provide more services and oil production increases, GDP can rise. But if the benefits of that additional economic activity do not translate into higher household incomes or better employment, the average person may experience little immediate improvement.
That appears particularly relevant to Nigeria’s current recovery.
The World Bank said in its April 2026 Nigeria Development Update that although macroeconomic stability had improved and economic growth remained robust, household incomes had yet to fully recover and poverty remained high.
In other words, the economy can improve before households do.
Prices are still shaping what Nigerians feel
The second reason is inflation.
Nigeria’s headline inflation rate fell to 15.43 per cent in July 2026, down from 15.91 per cent in June. At first glance, that looks like another positive development.
But a fall in the inflation rate does not mean prices have returned to where they were before.
It means prices are increasing more slowly.
That distinction matters.
If a product that cost ₦1,000 several years ago now costs ₦2,000, a reduction in the inflation rate does not automatically bring the price back to ₦1,000. The price level remains elevated even when the rate at which it is increasing begins to slow.
Food provides an even clearer example.
While headline inflation eased in July, food inflation rose to 20.31 per cent year-on-year, according to the NBS. On a month-on-month basis, food inflation jumped to 5.56 per cent from 3.75 per cent in June.
For households, this matters because food is not an optional expense.
A family can postpone buying a new television when money is tight. It cannot simply stop buying food.
So even when some macroeconomic indicators are improving, households can continue to feel pressure if the prices of essential goods remain high.
The real question is purchasing power
What matters to an individual is not simply how much money they earn but what that money can buy.
That is purchasing power. Suppose someone’s salary rises from ₦200,000 to ₦250,000. On paper, the person is earning more.
But if rent, food, transport, electricity, school fees and other expenses have increased by more than the salary, the person’s financial position may actually feel worse. This is why nominal income and real income tell different stories.
Nominal income is the amount of money a person receives.
Real income takes into account what that money can actually purchase.
For ordinary Nigerians, the second one is usually what matters.
Population growth makes the GDP figure less impressive per person
There is another factor that often gets lost when GDP figures are reported: Nigeria’s population is growing too.
The World Bank estimates Nigeria’s population at about 237.5 million in 2025, with annual population growth of about 2.1 per cent.
That means the economy needs to grow significantly faster than the population if the average Nigerian is to experience a substantial increase in economic output per person.
A 4.43 per cent increase in total economic output is therefore not equivalent to a 4.43 per cent increase in what each Nigerian has available.
This is where GDP per capita becomes important.
GDP per capita divides economic output by population. It is not a perfect measure of living standards, because it still does not show how income is distributed, but it gives a better indication of the amount of economic output associated with the average person.
Nigeria’s population growth therefore creates a higher bar for economic growth.
The economy must not only grow. It must grow fast enough, and inclusively enough, to produce meaningful gains per person.
And then there is the jobs question
Economic growth becomes more meaningful to households when it creates productive employment and raises incomes.
A country can experience growth in sectors that do not generate enough additional jobs or sufficiently high wages for the size of its population.
This is a particularly important issue for Nigeria because millions of people enter the labour market every year.
The World Bank says Nigeria needs to absorb about 3.5 million people entering the labour force annually, while weak job creation and limited entrepreneurial opportunities remain challenges.
That creates a gap between economic growth and the experience of workers.
If an economy grows by 4.43 per cent but a young person entering the labour market cannot find a productive job, the headline GDP figure offers little immediate comfort.
The same applies to someone who is employed but whose earnings have not kept pace with the cost of living.
Where is the current growth actually coming from?
This is another reason Nigerians should look beyond the headline number.
Nigeria’s Q2 growth was not evenly distributed across the economy.
The services sector remained the largest contributor, accounting for 56.62 per cent of real GDP, while growing by 4.60 per cent.
Agriculture accounted for 26.15 per cent and grew by 4.39 per cent.
The industrial sector, however, grew by only 3.96 per cent, sharply below the 7.46 per cent recorded in the corresponding quarter of 2025.
The oil sector also improved significantly, growing by 7.31 per cent as average crude oil production increased to 1.72 million barrels per day from 1.55 million barrels per day in the first quarter.
Yet oil accounted for only 4.16 per cent of real GDP, while the non-oil economy accounted for 95.84 per cent.
This tells a more complicated story than simply saying “Nigeria’s economy is growing.”
Some sectors are expanding faster than others. Some are creating more economic activity than others. And the sectors generating growth do not necessarily translate that growth directly into higher household incomes.
Economic growth can be real and still feel far away
This is perhaps the most important point.
The fact that Nigerians do not feel richer does not mean the GDP numbers are necessarily wrong.
Both things can be true.
Nigeria can genuinely be producing more goods and services while households remain under pressure.
Businesses may be expanding, oil production may be rising, agricultural output may be improving and the services sector may be growing. At the same time, a household can still be struggling with food prices, rent, transportation and other essential expenses.
The World Bank’s assessment captures this tension. It describes Nigeria’s recent progress in macroeconomic stabilisation as meaningful while also warning that household incomes have not fully recovered and poverty remains high.
The issue, therefore, is not simply whether Nigeria is growing.
It is what kind of growth Nigeria is achieving and who benefits from it.
What would make Nigerians actually feel the recovery?
For GDP growth to become more visible in household finances, several things need to happen together.
Economic expansion needs to generate more productive jobs. Workers’ incomes need to rise in real terms. Food and other essential costs need to become more manageable. Businesses need lower production costs so that growth can translate into investment and employment rather than simply higher prices.
Productivity also matters.
If Nigerian businesses can produce more with the same or fewer resources, they become more competitive and can potentially expand, invest and hire. Improvements in electricity, transport, logistics, access to finance and infrastructure can therefore matter to household welfare even though they may not appear on a person’s monthly payslip.
The quality of growth matters as much as the headline rate.
So, is Nigeria’s economy actually improving?
Yes, the latest figures show a genuine improvement in economic activity.
Real GDP growth has risen from 3.38 per cent in 2024 to 3.87 per cent in 2025, before reaching 4.43 per cent year-on-year in Q2 2026.
But that does not mean the average Nigerian is automatically richer.
The stronger test is whether economic growth eventually produces higher real incomes, better jobs, stronger purchasing power and lower financial pressure on households.
That process can take longer than the improvement in GDP itself.
For now, Nigeria appears to be moving in the right direction at the macroeconomic level, but the recovery has not yet translated fully into household prosperity.
The bottom line
Nigeria’s 4.43 per cent GDP growth is evidence that economic activity is improving, not proof that Nigerians are becoming richer.
GDP tells us that the economy produced more. It does not tell us whether salaries rose faster than prices, whether more Nigerians found productive jobs or whether families could afford more with their incomes.
That is why Nigerians can hear that the economy is growing and still feel poorer.
The real test of Nigeria’s recovery will come when stronger GDP growth is accompanied by rising real incomes, productive employment, improved purchasing power and a sustained reduction in the cost pressures facing households.
Until then, the economy may be growing on paper while the recovery remains difficult to feel at home.
A Las Vegas jury has found Duane Keith Davis guilty of murdering rapper Tupac Shakur in 1996.
Prosecutors relied heavily on Davis’ own accounts of the shooting, including statements in his 2019 memoir.
Davis is due to be sentenced on Oct. 13 and has said he plans to appeal the verdict.
Main story
A Las Vegas jury has convicted former South Side Compton Crips gang leader Duane Keith Davis over the 1996 murder of American rapper Tupac Shakur.
The jury reached the guilty verdict after about three hours of deliberation, bringing an end to a case that remained unresolved for nearly three decades.
Davis, 63, was accused of organising the shooting but not personally firing the weapon.
The prosecution’s case relied substantially on statements Davis made over several years in interviews and other recordings, as well as his 2019 memoir, Compton Street Legend.
Prosecutors played about eight hours of recordings from four separate events in which Davis described his involvement in the events surrounding Shakur’s killing.
According to the prosecution’s account, the shooting was motivated by an earlier confrontation at the MGM Grand in Las Vegas.
Shakur and Marion “Suge” Knight had attended a Mike Tyson boxing match at the casino when members of Shakur’s entourage became involved in an altercation with Orlando “Baby Lane” Anderson, Davis’ nephew and a member of a rival Compton gang.
Later that night, Shakur and Knight were travelling towards an after-party when a white Cadillac pulled alongside their vehicle at a red light.
A person inside the Cadillac opened fire, striking Shakur four times.
Shakur was taken to hospital but died several days later at the age of 25.
Davis had previously acknowledged being in the vehicle used in the shooting. In his memoir, he also described bringing a .40-calibre Glock with him.
The defence, led by attorney Michael Sanft, argued that Davis had exaggerated his involvement to profit from the enormous public interest surrounding Shakur’s unsolved murder.
Prosecutors, however, presented Davis’ repeated accounts as evidence of his direct involvement in the planning of the killing.
The trial featured 25 prosecution witnesses, including some who were ordered by the court to testify after initially being reluctant to participate.
The case has attracted intense public interest for years, generating numerous theories about Shakur’s death and criticism over the length of the investigation.
Shakur, born in 1971 in East Harlem, New York, became one of the most influential rappers of the 1990s. His music frequently addressed racism, police brutality, social inequality and the experiences of marginalised communities.
His death continued to generate global interest long after his career was cut short.
The issues
The conviction brings a major development to a murder investigation that remained open for almost 30 years.
A central feature of the case was the lack of physical evidence and the difficulty investigators faced in securing cooperation from potential witnesses.
Some witnesses were reluctant to participate, while another potential witness who claimed to be able to identify the shooters died in a separate shooting weeks later.
A 2015 review by the Los Angeles Times also highlighted alleged investigative failures, including authorities’ handling of information about the earlier confrontation between Anderson and members of Shakur’s entourage.
The case consequently became part of wider discussions about racial inequality and confidence in the criminal justice system.
For Shakur’s family, the conviction also represents an opportunity to gain greater clarity about the circumstances surrounding his death.
What’s Being Said
“It was kinda hard for me to feel so happy at the same time knowing someone is going to jail for so long.” — Jessica Martin, Tupac Shakur fan
“We’ve been waiting 30 years to grieve properly.” — Zayd Akinyela, Shakur’s cousin
“Had he decided to never write the book, he would not, probably, have ever been prosecuted for the crime.” — Marc DiGiacomo, Clark County District Attorney
“Them jumping on my nephew gave us the green light to want to do something to their ass.” — Duane Keith Davis, from his 2019 memoir
“Pac chose the wrong game to play.” — Duane Keith Davis, from his 2019 memoir
What’s next
Davis is scheduled to appear for sentencing on Oct. 13.
First-degree murder in Nevada carries a sentence ranging from 20 years to life imprisonment.
Prosecutors did not seek the death penalty and dropped their efforts to add a gang enhancement to Davis’ conviction after the verdict.
Davis has indicated that he plans to appeal the conviction.
Bottom line
The conviction of Duane Davis closes the trial phase of one of the most closely followed unsolved celebrity murder cases in the United States.
Nearly 30 years after Tupac Shakur was shot in Las Vegas, the jury has accepted the prosecution’s case that Davis was responsible for orchestrating the killing.
The next stage will be Davis’ sentencing and any appeal against the conviction.
