President Bola Tinubu and state governors have agreed to work together to reduce transport fares from Oct. 1 through cheaper CNG and electric vehicles.
More than 120,000 vehicles have been converted to CNG, while another 100,000 conversion kits are being processed.
The Federal Government plans to increase the number of CNG refuelling stations nationwide to 1,000.
Main story
President Bola Tinubu and state governors have agreed to work together to reduce transport fares from Oct. 1 by expanding the use of cheaper Compressed Natural Gas (CNG) and electric vehicles.
Tinubu disclosed this on Thursday after meeting with the governors at the State House in Abuja on the sidelines of the National Economic Council (NEC) meeting, saying the agreement was intended to ensure that Nigerians benefit directly from savings generated by the Federal Government’s energy transition programme.
He said the governors had resolved to take immediate measures to reduce transportation costs in their respective states, with cheaper fuel expected to translate into lower fares.
The agreement comes as the Federal Government expands CNG infrastructure and vehicle conversions as part of efforts to reduce transportation costs and ease economic pressure on Nigerians.
Tinubu said more than 120,000 vehicles had so far been converted to CNG nationwide, while more than 100,000 additional conversion kits were being processed.
To support the growing number of CNG-powered vehicles, the Federal Government is also investing in conversion centres and refuelling infrastructure across the country.
Through the Midstream and Downstream Gas Infrastructure Fund, the government is financing more than 100 gas projects, including 15 CNG mother stations and 86 daughter stations.
Tinubu said four of the projects had already been commissioned in Lagos, Abuja and Owerri, while the government had directed the rollout of another 500 CNG refuelling stations.
The additional stations will bring the planned national total to 1,000, when combined with the 500 previously ordered.
According to Tinubu, vehicles operating on CNG can spend significantly less on fuel than petrol-powered vehicles, creating an opportunity for lower transportation costs if the savings are passed on to commuters.
He said intra-state transportation was where Nigerians experienced transport costs most directly and therefore required greater involvement from state governments.
The President said a joint Federal and State committee would be established to begin implementing the measures agreed at the meeting.
Beyond transportation, Tinubu urged state governments to intensify efforts to reduce poverty and improve living conditions, stressing the need for closer collaboration between the Federal Government and subnational governments.
He also urged governors to encourage farmers to participate in the Federal Government’s agricultural mechanisation programme, which is supported by six maintenance centres across the country.
The meeting also included political discussions, during which the governors pledged support for Tinubu’s bid for another term in the 2027 general elections.
The issues
The agreement seeks to connect the expansion of CNG infrastructure with lower transportation costs for Nigerians.
The immediate challenge will be ensuring that savings from cheaper fuel are actually reflected in transport fares, while the expansion of conversion centres, refuelling stations and CNG-powered vehicles continues.
The planned joint Federal and State committee is expected to coordinate the implementation of the measures.
What’s being said
“ We have agreed that cheaper fuel should result in cheaper fares. From October 1, our goal is that Nigerians begin to partake in those savings through lower transport fares.” — President Bola Tinubu
“A vehicle running on CNG spends 60 to 80 per cent less on fuel than one running on petrol.” — President Bola Tinubu
“Intra-state transport is where Nigerians feel the cost most directly, and it is where the states hold the levers.” — President Bola Tinubu
What’s next
A joint Federal and State committee will be established to implement the measures agreed by Tinubu and the governors.
The Federal Government will also continue the rollout of CNG conversion infrastructure and refuelling stations, while state governments are expected to take measures to reduce transport fares from Oct. 1.
Bottom line
The Federal Government and state governments are targeting lower transport fares from Oct. 1 by passing the savings from cheaper CNG and other energy-transition measures to commuters.
The success of the plan will depend on the continued expansion of CNG infrastructure and whether the lower fuel costs translate into actual reductions in transport fares.
Only seven states and the Federal Capital Territory (FCT) are fully implementing the CPS and CDBS, according to PenCom.
Thirteen states are at various stages of partial implementation.
Six states are still at the bill stage, while pension laws in 10 states are inactive.
Main story
Only seven states and the Federal Capital Territory (FCT) are fully implementing the Contributory Pension Scheme (CPS) and Contributory Defined Benefits Scheme (CDBS), according to the National Pension Commission (PenCom).
PenCom disclosed this in its first-quarter report on pension implementation, based on an update by its States Operations Department, which assessed implementation across the 36 states of the federation and the FCT.
The report identified Lagos, Kaduna, Edo, Osun, Ekiti, Ondo and Jigawa as the states that had fully implemented the CPS/CDBS, alongside the FCT.
However, 13 states were at various stages of partial implementation of the schemes. They are Abia, Anambra, Bauchi, Bayelsa, Benue, Delta, Kano, Katsina, Kogi, Niger, Ogun, Oyo and Rivers.
The commission also reported that pension laws in 10 states were inactive, limiting the implementation of the schemes in those states.
According to the report, Ebonyi, Enugu, Imo, Nasarawa, Sokoto and Taraba had inactive CPS laws, while Adamawa, Gombe, Kebbi and Zamfara had inactive CDBS laws.
Meanwhile, six states remained at the bill stage in their efforts to implement the CPS. They are Akwa Ibom, Borno, Cross River, Kwara, Plateau and Yobe.
The report further showed that 18 states and the FCT had established dedicated Pension Bureaux to administer the scheme.
The CPS was introduced by the Pension Reform Act, 2004 and retained under the Pension Reform Act, 2014, to provide a framework for regular pension contributions by employers and employees towards retirement benefits.
PenCom has continued to encourage states to adopt and effectively implement the CPS as part of efforts to establish sustainable pension arrangements for state workers.
The issues
The PenCom update shows that implementation of contributory pension arrangements remains uneven across the country.
While eight jurisdictions, comprising seven states and the FCT, have fully implemented the CPS/CDBS, other states remain at different stages, ranging from partial implementation to inactive pension laws and the bill stage.
The existence of dedicated Pension Bureaux in 18 states and the FCT indicates that administrative structures have also been established in some jurisdictions, although the report does not state that the establishment of such bureaux automatically means full implementation.
What’s next
PenCom is expected to continue encouraging states to adopt and effectively implement the CPS to strengthen pension arrangements for their workers.
For states where pension laws are inactive or legislation remains at the bill stage, progress towards activating or establishing the necessary legal framework will be required before full implementation can be achieved.
Bottom line
Only seven states and the FCT have fully implemented the CPS/CDBS, while the remaining states are either partially implementing the schemes, operating under inactive pension laws or still working towards legislation.
The figures highlight the uneven adoption of contributory pension arrangements across Nigeria’s 36 states.
Sunday Dare says reliable telecommunications and data services are critical to Nigeria’s economic growth, productivity and social inclusion.
NCC says Nigeria had 192 million active telecommunications users and 56.7 per cent broadband penetration as of June.
Stakeholders called for improved service quality, affordable connectivity, infrastructure sharing and stronger protection of telecommunications infrastructure.
Main story
Reliable telecommunications and data services are critical to Nigeria’s economic growth, productivity and social inclusion, the Special Adviser to the President on Media and Public Communication, Sunday Dare, has said.
Dare made the statement on Thursday in Abuja at the National Civil Society Dialogue on Telecommunication and Data Service Provisions in Nigeria, themed: “Upscaling Telecommunication and Data Services for Enhanced Microeconomic and GDP Growth.”
He said telecommunications had evolved from a supporting utility into critical national infrastructure as farmers, businesses, students, hospitals and government increasingly depended on digital connectivity.
According to him, farmers use mobile devices to access market information, while small businesses rely on digital platforms for transactions and marketing. He added that students learn and earn degrees online, hospitals depend on digital communication and government services are increasingly moving to digital channels.
Dare said the growing dependence on connectivity made telecommunications an issue of economic opportunity, national productivity, social inclusion and Nigeria’s future competitiveness.
He said increased broadband connectivity would expand economic participation, innovation, productivity and job creation, but stressed that the expansion of subscriber numbers and infrastructure must be matched by improvements in quality of service.
The presidential adviser said consumers deserved clearer explanations about data usage, while telecommunications operators needed to increase investment in network optimisation, fibre deployment and rural coverage.
He also called for more responsive and efficient customer service, as well as greater corporate investment in digital literacy, youth innovation and local content.
Beyond service delivery, Dare called for infrastructure sharing among telecommunications operators and stronger protection of telecommunications infrastructure against vandalism and theft.
He said the rollout of 5G would create opportunities in areas including smart agriculture, industrial automation, telemedicine, smart cities and advanced logistics.
Dare therefore urged the government, regulators, operators, development partners and civil society organisations to work together to expand affordable connectivity to underserved communities.
He said the focus should shift from assigning blame to developing solutions, while ensuring that consumers were heard, operators were supported and held accountable, regulators remained vigilant and civil society maintained constructive engagement.
The call came as the Nigerian Communications Commission (NCC) disclosed that Nigeria had 192 million active telecommunications users as of June, with broadband penetration standing at 56.7 per cent.
Odoyemi Ogohi, Director, Technical Standards and Network Integrity at the NCC, said the commission welcomed public scrutiny and constructive dialogue on telecommunications services.
He said the NCC was committed to using evidence to assess network performance and address consumer complaints, adding that the commission worked with data when complaints were received or performance data became available.
Ogohi said Nigerians consumed 8.51 million terabytes of data between January and June, with monthly usage continuing to increase.
He said the growing volume of data consumption made quality, affordability, security and inclusion priorities for the telecommunications sector and the wider economy.
According to him, better quality of service encourages increased usage, which is reflected in the volume of data consumed across telecommunications networks.
Ogohi also acknowledged the difference between network experiences in rural and urban areas, saying the NCC had shifted towards measuring service quality at the local level.
The concerns over service quality and consumer experience were also raised by civil society organisations. Executive Director of the National Civil Society Council of Nigeria, Amb. Blessing Akinsolotu, said CSOs had raised concerns over poor telecommunications services, arbitrary deductions and other consumer-related issues.
Akinsolotu said the issues had generated agitation and protests among consumers, particularly over arbitrary deductions and messages, while expressing confidence that the NCC would address the concerns and improve communication with consumers.
He said the resolutions reached at the dialogue would be communicated to relevant stakeholders for further action.
The issues
Nigeria’s growing dependence on digital connectivity has increased the economic importance of telecommunications services, but stakeholders say expansion in subscriber numbers and data consumption must be matched by reliable and affordable service.
The discussion also highlighted the gap between rural and urban network experiences, concerns over consumer deductions and the need for greater investment in network infrastructure, fibre deployment and rural coverage.
At the same time, vandalism and theft of telecommunications infrastructure remain concerns, while infrastructure sharing and the expansion of 5G could help improve connectivity and support new economic activities.
What’s being said
“The quality of services experienced by citizens must improve at the same pace as investment and expansion.” — Sunday Dare, Special Adviser to the President on Media and Public Communication
“Let us move beyond assigning blames. Let us move on to building solutions. Let the consumers in their millions be heard.” — Sunday Dare, Special Adviser to the President on Media and Public Communication
“We are not afraid of public scrutiny; we actually welcome it because it is part of our DNA.” — Odoyemi Ogohi, Director, Technical Standards and Network Integrity, NCC
“At the NCC, we are led by evidence, if anyone complains or we see the data sets, we work based on data.” — Odoyemi Ogohi, Director, Technical Standards and Network Integrity, NCC
“There have been a whole lot of issues around telecommunication and data service provision in Nigeria, there have been a lot of agitation from CSOs and there have been protests over some of these issues.” — Amb. Blessing Akinsolotu, Executive Director, National Civil Society Council of Nigeria
What’s next
The resolutions from the dialogue are expected to be communicated to relevant stakeholders for further action, with continued engagement among government, regulators, telecommunications operators, civil society organisations and other stakeholders.
The NCC is also expected to continue using network performance data and consumer complaints to assess service quality, while efforts to address the rural-urban connectivity gap remain part of the sector’s challenges.
Bottom line
Nigeria’s rising dependence on telecommunications and increasing data consumption have made network quality, affordability and accessibility important to economic activity.
Stakeholders are calling for stronger investment, better consumer protection and closer collaboration across the sector to ensure that the expansion of digital connectivity translates into broader economic participation and productivity.
The Personal Pension Plan recorded 219,316 registrations from inception to the first quarter of 2026, but only 18,811 accounts were funded.
Unfunded accounts accounted for 91.4 per cent of total PPP registrations.
PPP contributions increased by 42.46 per cent to N147.16 million in the first quarter of 2026.
Main story
Only 18,811 of the 219,316 registrations recorded under the Personal Pension Plan (PPP) from inception to the first quarter of 2026 had been funded, according to pension industry data released by the National Pension Commission (PenCom).
The figure means that 200,505 registered accounts, representing 91.4 per cent of total PPP registrations, remained unfunded as of the end of the first quarter.
Funded Retirement Savings Accounts (RSAs) accounted for only 8.6 per cent of the total registrations, highlighting the gap between registration under the plan and actual participation through pension contributions.
The data also showed that total contributions under the PPP stood at N1.66 billion from inception to the first quarter of 2026.
Despite the low proportion of funded accounts, quarterly contributions increased during the period, rising from N103.30 million in the fourth quarter of 2025 to N147.16 million in the first quarter of 2026.
The increase amounted to N43.86 million, representing a 42.46 per cent rise between the two quarters.
The PPP is designed to enable self-employed persons and workers in the informal sector to participate in the Contributory Pension Scheme and build retirement savings.
The latest figures therefore point to the challenge of converting the large number of registrations under the plan into active accounts with sustained pension contributions.
The issues
The major issue highlighted by the data is the wide gap between PPP registrations and funded accounts.
While 219,316 people had registered for the plan by the first quarter of 2026, only 8.6 per cent had funded their accounts, leaving more than 200,000 registrations without contributions.
At the same time, the 42.46 per cent quarterly increase in contributions indicates that funding activity is growing, although the data show that sustained participation remains a significant challenge.
What’s being said
The supplied report does not contain direct quotations from PenCom or any other official.
What’s next
The key challenge for the PPP will be converting existing registrations into funded accounts and sustaining regular contributions, particularly among self-employed people and workers in the informal sector.
Bottom line
The PPP has attracted more than 219,000 registrations since inception, but only 18,811 accounts had been funded by the first quarter of 2026.
Although quarterly contributions increased by 42.46 per cent, the large number of unfunded registrations remains a significant hurdle to expanding pension coverage among informal-sector workers.
The Manufacturers Association of Nigeria (MAN) wants a joint task force involving the association, police and LASTMA to tackle illegal levies imposed on manufacturers.
MAN says multiple taxes, regulatory burdens, port charges and illegal collections along industrial corridors are increasing manufacturers’ operating costs.
The association says the new tax regime could improve manufacturing competitiveness if effectively implemented and supported by transparent compliance and dispute-resolution mechanisms.
Main story
The Manufacturers Association of Nigeria (MAN) has called for the establishment of a joint task force involving the association, police and the Lagos State Traffic Management Authority (LASTMA) to tackle illegal levies imposed on manufacturers operating in Lagos.
MAN President, Francis Meshioye, made the call at the 55th Annual General Meeting of the association’s Apapa Branch in Lagos, where he said manufacturers in the area continued to face multiple taxes and levies from government agencies and non-state actors.
Meshioye said the problem was particularly severe along industrial and port access roads, where illegal collections were adding to the cost of moving raw materials and goods between the ports and factories.
He said a truck transporting raw materials from the port to a factory in Amuwo could be stopped by several agencies before reaching its destination, in addition to the corporate tax, Value Added Tax (VAT) and state levies already paid by manufacturers.
According to him, the Lagos State Government should therefore enforce a “No-Tout Zone” policy across industrial areas and introduce safeguards against illegal collections in Amuwo, Kirikiri and other major port access roads.
Meshioye also called for a single bill covering port-related charges to eliminate multiple fees imposed on container movement, urging the Lagos State Government to work with the Nigerian Ports Authority and Nigerian Shippers’ Council to achieve the arrangement.
He said the success of such reforms should ultimately be measured by their ability to encourage business expansion, investment and employment in the manufacturing sector.
To improve coordination across the industrial corridor, Meshioye proposed the establishment of an Apapa Trade Corridor Authority to oversee roads, drainage, security and regulation across Apapa, Amuwo and Kirikiri.
The proposal comes as manufacturers in the Apapa industrial area continue to contend with several other operating challenges. Chairman of the MAN Apapa Branch, Raphael Danilola, identified multiple taxation, regulatory burdens, insecurity, high energy costs, expensive credit and port charges as major pressures on businesses.
Danilola specifically urged the Lagos State Government to rehabilitate the Amuwo-Odofin drainage and road networks, curb extortion by non-state actors and review the mandates of its agencies to eliminate duplication.
He said the focus should be on ensuring that tax reforms improve manufacturing competitiveness rather than create additional pressure for businesses already operating in a difficult environment.
The concerns raised by MAN came as the Executive Secretary of the Joint Revenue Board, Olusegun Adesokan, outlined changes under the new tax administration framework.
Adesokan said the framework had reduced more than 100 taxes to nine unified revenue heads at the sub-national level, covering income tax, stamp duty, property tax, road tax, haulage levy, economic development levy, harmonised levy, user charge and daily tickets.
He said the framework also abolished revenue roadblocks along transportation corridors and prohibited cash payments for taxes, while associations, unions and other non-state actors were barred from collecting taxes on behalf of government.
According to Adesokan, offenders who mount revenue roadblocks could face penalties of up to N5 million or three years’ imprisonment, or both, while unauthorised cash tax collection could attract penalties of up to N2 million or three years’ imprisonment, or both.
The MAN Director-General, Segun Ajayi-Kadir, said the four new tax laws that came into effect on Jan. 1, 2026, could reposition the tax system to support productivity if properly implemented.
Ajayi-Kadir said manufacturers had previously faced between 120 and 160 taxes and levies, resulting in high compliance costs and uncertainty for businesses.
He said limiting the number of taxes and levies to nine under the new regime should simplify compliance and give manufacturers greater certainty in their operations.
However, he urged authorities to ensure that compliance remained simple and transparent, with effective mechanisms for resolving disputes between taxpayers and revenue authorities.
Ajayi-Kadir also called for an effective tax ombudsman system to provide manufacturers and other taxpayers with an impartial avenue for resolving disputes with revenue authorities.
The issues
The central concern for manufacturers is the cumulative cost of taxation, regulation and informal collections across the industrial and port corridors.
While the new tax framework seeks to simplify the number of taxes and levies, MAN says manufacturers still face illegal collections, duplicated regulatory functions, poor infrastructure, insecurity, high energy costs and expensive credit.
The challenge is therefore not only the number of taxes payable but also how revenue collection and regulation are enforced along major manufacturing and trade routes.
What’s being said
MAN says illegal levies and multiple collections are increasing manufacturers’ operating costs and undermining competitiveness.
The Joint Revenue Board says the new framework has reduced more than 100 taxes to nine unified revenue heads and introduced measures against revenue roadblocks and unauthorised cash collections.
MAN says effective implementation, transparency and an impartial dispute-resolution mechanism will be necessary for the reforms to deliver the intended benefits.
What’s next
MAN is seeking collaboration among the Lagos State Government, police, LASTMA, the Nigerian Ports Authority and Nigerian Shippers’ Council to address illegal collections and duplicated charges along industrial and port corridors.
The association is also pushing for an Apapa Trade Corridor Authority and a tax ombudsman system to improve coordination and resolve disputes between manufacturers and revenue authorities.
Bottom line
MAN wants tax reform to reduce, rather than add to, the cost of doing business for manufacturers.
While the new framework limits the number of taxes and levies, the association says tackling illegal collections, duplicated regulation, infrastructure deficiencies and other operating costs will be critical to improving manufacturing competitiveness.
Hublot unveils the Big Bang Reloaded UEFA Champions League Titanium Ceramic for the 2026/27 season
The limited-edition watch features a 44 mm titanium case, blue ceramic bezel and 72-hour power reserve
Hublot produces only 100 pieces, available through its boutiques worldwide and Hublot.com
Main Story
Hublot has unveiled the Big Bang Reloaded UEFA Champions League Titanium Ceramic in Nyon, Switzerland, marking the start of the 2026/27 UEFA Champions League season and the brand’s eighth timepiece from the partnership.
The limited-edition watch features a 44 mm case made from satin-finished and polished titanium, with a bezel combining polished titanium and blue ceramic. Its matte blue skeleton dial exposes the movement, while a sapphire crystal on the blue ceramic case back displays the UEFA Champions League logo.
Hublot said the timepiece is powered by its HUB1280 Unico Manufacture calibre, an automatic column-wheel chronograph movement comprising 354 components and offering approximately 72 hours of power reserve. The watch is water-resistant to 100 metres and comes with a blue rubber and white calf-leather strap featuring star motifs and blue stitching.
The package also includes a miniature replica of the UEFA Champions League trophy and a hologram. Hublot is limiting production to 100 pieces, with the watch available from August 27 through its boutiques worldwide and Hublot.com.
Hublot has served as the Official Watch of the UEFA Champions League since 2015. The 2026/27 competition enters its third season under the league-phase format, with the league phase beginning on September 8, 2026. UEFA said the 36-team league-phase draw is taking place on August 27, while the fixture list and kick-off times will be communicated by August 29.
What’s Being Said
“A new UEFA Champions League season begins, bringing with it the enduring desire to tell the story of those nights when anything can change.” Julien Tornare, CEO, Hublot.
Hublot said the new model reflects the 11-season relationship between the Swiss watchmaker and European club football’s leading competition, using the tournament’s blue colour and star motif as key design elements.
What’s Next
Hublot’s 100-piece limited edition is available from August 27 through Hublot boutiques worldwide and Hublot.com
UEFA is expected to publish the complete 2026/27 Champions League fixture list and kick-off times no later than August 29
The league phase begins on September 8, with the final scheduled for June 5, 2027, at Madrid’s Estadio Metropolitano
The Bottom Line:
Hublot is using the launch to reinforce its position at the intersection of luxury watchmaking and elite football, turning its long-running UEFA partnership into a limited-edition commercial product. The 100-piece production run also positions the watch as a collector-focused extension of the 2026/27 Champions League campaign.
The global logistics sector records a combined brand value of USD216.8 billion in 2026, according to Brand Finance’s Logistics 50 2026 report, as the industry recovers from geopolitical and financial headwinds
UPS retains the crown as the world’s most valuable logistics brand for the 12th consecutive year, while CEVA emerges as the fastest-growing brand with a 129% brand value surge
48% of the 50 featured brands recorded double-digit brand value growth in 2026, signalling resilient momentum across the sector despite ongoing disruptions
MAIN STORY
The global logistics industry is fighting back.
After more than a year of battling US-imposed tariffs, Middle East geopolitical tensions, and fractured supply chains since February 2025, the world’s top logistics brands have collectively posted a brand value of USD216.8 billion in 2026 — a figure that signals recovery, not retreat.
According to Brand Finance’s Logistics 50 2026 report, the world’s leading brand valuation consultancy, 48% of the 50 featured brands recorded double-digit growth this year. The United States remains the dominant force, contributing 42% of total brand value at USD90.8 billion. China follows with a 14% share (USD30.6 billion), and Germany holds third position with a 9% share (USD20.5 billion).
What the numbers reveal is a sector in transition — from volume-first strategies to value-first ones. The brands climbing the rankings are not simply the largest by shipment count; they are the most reliable, the most strategically focused, and the most profitable per unit of cargo moved.
Here are the 10 top-ranked global logistics brands in 2026, and what sets each apart:
THE ISSUES
Before diving into the rankings, it is important to understand the landscape in which these brands are operating. The logistics sector faces a complicated mix of structural and short-term challenges. US tariff policy continues to inject uncertainty into cross-border trade flows, with ripple effects felt across air freight, ocean shipping, and road haulage. Tensions in the Middle East — including disruptions in the Strait of Hormuz — have forced major shipping operators to reroute vessels around Africa, inflating costs and delivery timelines.
At the same time, brands are navigating a rebalancing of global trade patterns. China’s dominance as a manufacturing export hub is being partially redistributed to Southeast Asia and other emerging markets. This is creating new opportunities for logistics brands that have invested in flexible, multi-corridor networks. The brands that are gaining brand value in 2026 are not simply riding the tide — they are building infrastructure for the next decade of trade.
THE LIST
1. UPS — Brand Value: USD30 Billion (Down 8%)
The American delivery giant retains the title of the world’s most valuable logistics brand for the 12th consecutive year — a record that speaks to the depth of its brand equity even in a difficult year.
UPS’s 8% brand value dip in 2026 is not a crisis; it is the cost of a calculated strategic transformation. In January 2025, the company reached an agreement in principle to cut Amazon’s shipment volume by more than 50% by the second half of 2026. Amazon has been UPS’s largest customer for nearly 30 years, contributing close to 11% of its consolidated revenue — but UPS CEO Carol Tomé has been direct about the math: “Amazon is our largest customer, but it’s not our most profitable customer. Its margin is very dilutive to the U.S. domestic business,” she noted in an earnings call.
UPS is repositioning itself toward higher-margin sectors, with healthcare logistics as the flagship bet. The healthcare segment generated more than USD11 billion in 2025 revenue, and analysts expect the segment to double its revenue run rate to approximately USD20 billion by late 2026. The company is also executing its “Efficiency Reimagined” initiative, targeting USD1 billion in process-led savings, and has undertaken the largest network reconfiguration in its history, closing facilities and rightsizing operations to reflect its new, higher-margin customer mix.
The short-term pain is real — domestic package volume fell 10.8% in Q4 2025 — but the long-term architecture is being rebuilt for a more profitable UPS.
2. FedEx — Brand Value: USD25.1 Billion (Up 10%)
FedEx’s 10% brand value growth in 2026 is a story of cost discipline meeting strategic boldness.
The Memphis-headquartered company achieved its USD5 billion cost-reduction target in June 2025 — a milestone under its DRIVE programme — and added another USD1 billion cost reduction target in May 2026. The result: operating margins have been expanding consistently, even as the external environment remains choppy. In Q2 of fiscal 2026, FedEx reported an adjusted operating margin of 6.9%, up from 6.3% a year earlier, with revenue climbing to USD23.5 billion.
The headline structural move came on June 1, 2026, when FedEx completed the spin-off of FedEx Freight into a new, independent publicly traded company listed on the New York Stock Exchange under the ticker “FDXF.” The separation — announced in December 2024 — creates two more focused businesses: a leaner FedEx Corporation, and an independent LTL (less-than-truckload) freight company with its own capital allocation strategy.
FedEx CEO Raj Subramaniam framed the company’s position clearly: “Our strategic initiatives, paired with our unique operational data platform from moving 17 million packages through our network daily, position us well to serve our customers in any environment and to create long-term value for our stockholders.”
3. JR (Japan Railways) — Brand Value: USD13.1 Billion (Stable)
Japan Railways maintains its position as the third most valuable logistics brand globally — a remarkable achievement for a rail-based operator in an era dominated by air and road freight.
The brand’s consistency is driven by three revenue engines operating in parallel. JR East raised its fares for the first time in 37 years in 2025, improving its revenue forecast by JPY82 billion (approximately USD535 million). JR West recorded revenue growth for the fifth consecutive year, buoyed by the World Expo 2025 held in Osaka and Kansai — an event that drew millions of visitors and generated significant transportation demand across western Japan. And JR Central reported year-on-year growth in transportation revenue to JPY785.4 billion (approximately USD5.1 billion) across its Shinkansen bullet train and conventional rail services.
Japan’s rail network is one of the most reliable in the world, and that dependability is increasingly being recognised as a brand asset — not just an operational characteristic.
4. DHL — Brand Value: USD11.4 Billion (Up 2%)
DHL ranks fourth on the Brand Finance Logistics 50 2026 list, recording modest brand value growth of 2% to USD11.4 billion. Operating under the Deutsche Post DHL Group umbrella, DHL is a truly global logistics player, present in more than 220 countries and territories worldwide.
Despite the challenging operating environment — including Middle East disruptions that pressured the group’s freight forwarding business (whose earnings slumped 36% in Q4 2025) — DHL’s CEO Tobias Meyer signalled confidence in the company’s ability to deliver higher operating profit in 2026. The group’s broader strategy targets 20 high-growth markets globally for accelerated commercial focus, with eight of those markets in Asia Pacific — a region the company’s own Global Connectedness Report identifies as a major and deepening anchor of global trade.
DHL’s brand strength lies in its unmatched global network. For businesses moving goods across continents, DHL’s breadth — spanning express delivery, global forwarding, supply chain services, and e-commerce fulfilment — makes it a near-indispensable logistics partner.
5. Union Pacific — Brand Value: USD6.4 Billion (Up 6%)
Union Pacific ranks fifth with a 6% brand value increase to USD6.4 billion. The American freight railroad is one of the largest rail networks in the United States, operating approximately 32,000 route miles across 23 states in the western two-thirds of the country.
Union Pacific’s brand value growth reflects its position as a critical artery of US domestic freight — particularly as tariff-driven trade policy has encouraged more domestic production and shorter supply chains. Rail remains one of the most cost-efficient and emissions-effective modes of freight transport for bulk goods over long distances, and Union Pacific’s network is well-positioned to benefit from continued near-shoring trends in the US economy.
6. SF Express — Brand Value: USD6.3 Billion (Stable)
China’s SF Express holds sixth position with a brand value of USD6.3 billion. SF Express is China’s largest private express delivery company and one of the fastest-growing logistics brands in Asia. The brand has invested heavily in cold chain logistics, cross-border e-commerce fulfilment, and last-mile delivery capabilities — areas that are generating increasing demand as China’s consumer market matures and its export base diversifies.
SF Express represents China’s ambition to build world-class logistics brands that can compete beyond domestic borders. Its steady brand value in 2026, against a complex trade backdrop, reflects the durability of its domestic market leadership.
7. USPS (United States Postal Service) — Brand Value: USD6.3 Billion (Up 6%)
USPS records a 6% brand value increase to USD6.3 billion, moving into seventh position. For a public-sector institution facing ongoing structural questions about its long-term business model in a digital-first world, the brand value growth is meaningful.
The USPS has been a beneficiary of the US e-commerce boom, which continues to drive parcel volume even as letter mail declines. The brand’s ubiquity — reaching every address in the United States, six days a week — gives it a last-mile advantage that no private carrier can fully replicate. Additionally, UPS’s strategic decision to in-source 100% of its SurePost last-mile volume (previously handed off to USPS for final delivery) has changed the competitive dynamics at the parcel level, but USPS retains a resilient base of small parcel, government, and rural delivery business.
8. Maersk — Brand Value: USD5.9 Billion (Up 27%)
Maersk’s 27% brand value surge to USD5.9 billion is the most impressive growth story among the top 10 brands in 2026 — outside of CEVA’s extraordinary 129% jump (see below).
The Danish shipping giant has been executing a clear transformation: from ocean carrier to integrated logistics partner. The strategy is gaining commercial traction. In Q2 2025, Maersk reported underlying earnings of USD2.3 billion — 7% ahead of year-on-year — with its Logistics & Services segment’s EBIT jumping 39% to USD175 million, pushing margins from 3.5% to 4.8%.
Maersk also completed the acquisition of the Panama Canal Railway Company in April 2025, strengthening its end-to-end logistics capabilities and linking Atlantic and Pacific trade flows. The Gemini cooperation launched with Hapag-Lloyd in 2025 delivered schedule reliability that outpaced the broader market by approximately 10% — a meaningful differentiator in an era when supply chain predictability commands a premium.
CEO Vincent Clerc captured the brand’s strategic posture: “The year highlighted the need to strengthen, and modernise global supply chains and critical infrastructure, further emphasising the relevance of our strategy.”
9. BNSF — Brand Value: USD5.9 Billion (Down 12%)
BNSF Railway, owned by Berkshire Hathaway, holds ninth position with a brand value of USD5.9 billion — though its 12% decline reflects a more difficult year. BNSF operates one of the largest freight railroad networks in North America, spanning approximately 32,500 route miles across 28 states and three Canadian provinces.
The brand’s value dip is linked to broader pressures on freight rail volumes in 2025-2026, as shifting trade patterns and weaker industrial output affected rail cargo loads. BNSF’s network is particularly exposed to agricultural and energy commodity flows, sectors that have faced their own pricing and demand headwinds. However, BNSF’s infrastructure scale and the backing of Berkshire Hathaway’s balance sheet mean it is well-positioned to absorb cyclical downturns and invest in the long term.
10. China Post — Brand Value: USD5.8 Billion (Up 6%)
China Post rounds out the top 10 with a 6% brand value increase to USD5.8 billion. As China’s state-owned postal and logistics operator, China Post has one of the most extensive domestic delivery networks in the world — reaching into rural and remote areas that private logistics providers do not cover.
China Post’s brand value growth in 2026 reflects the ongoing modernisation of its services, including investments in e-commerce logistics and cross-border delivery capabilities. As Chinese e-commerce platforms continue to expand their international footprint, China Post’s role as a critical last-mile delivery partner in international corridors is growing in strategic importance.
WHAT’S BEING SAID
Industry observers say the 2026 rankings mark a genuine inflection point in how logistics brand value is created.
Alex Haigh, Global Sector Head of Logistics at Brand Finance, framed the shift clearly: “This year’s logistics ranking marks a shift in where value is created in logistics. UPS’s decision to shed margin-dilutive projects in favour of healthcare logistics shows that scale alone no longer commands a premium — but the quality of the network does. FedEx’s cost discipline and CEVA’s brand value surge point in the same direction: brands are being rewarded for what they carry and how reliably, instead of simply relying on shipment volume. SBB’s arrival as the strongest brand in the sector signals that dependability has become the asset customers pay for.”
The commentary from Haigh aligns with what logistics professionals and supply chain executives have been observing on the ground: that post-pandemic disruptions, tariff volatility, and geopolitical risk have permanently elevated the value of reliability. Shippers are no longer choosing logistics partners solely on price — they are choosing them on the confidence that goods will arrive on time, every time, regardless of external conditions.
WHAT’S NEXT
UPS’s healthcare bet comes to a head: Analysts expect UPS’s healthcare logistics segment to reach approximately USD20 billion in annualised revenue by late 2026. Whether the segment can offset the revenue loss from Amazon’s volume reduction will be the defining financial test of the company’s strategic pivot.
FedEx Freight’s independent trajectory: Now trading as “FDXF” on the NYSE, FedEx Freight will report its first full set of results as an independent company in the coming months. Its performance will reveal whether the spin-off unlocks value for shareholders — or introduces new execution risk.
Maersk’s logistics margin ambition: Maersk has raised its full-year 2026 earnings guidance to USD8 billion–USD9.5 billion. Whether its Logistics & Services segment can sustain the margin momentum it posted in Q2 2025 will determine whether the brand holds or extends its 27% brand value gain.
Geopolitical wildcard: The closure of the Strait of Hormuz and continued Middle East tensions remain the sector’s most unpredictable variable. Any further escalation could reroute additional shipping lanes, inflating costs and testing the resilience of even the best-capitalised logistics brands.
BOTTOM LINE
The Bottom Line: The 2026 logistics brand rankings tell a story that goes far beyond delivery trucks and shipping containers. The brands ascending the rankings are those that have made a deliberate trade — volume for value, scale for specificity, tonnage for trust. In an era defined by geopolitical unpredictability and margin compression, the logistics companies that will define the next decade are not the ones moving the most packages; they are the ones their customers trust to move the right packages, on time, every time — regardless of what is happening in the world.
More than 2,700 people have died from Ebola in the Democratic Republic of the Congo (DRC), with about 500 new cases emerging weekly.
UN Secretary-General António Guterres warned that the response is only 48 per cent funded and could run out of resources within weeks.
Insecurity, displacement and attacks on health workers are complicating efforts to contain the outbreak and prevent cross-border spread.
Main story
More than 2,700 people have died from Ebola in the Democratic Republic of the Congo (DRC), with about 500 new cases emerging weekly as the United Nations appeals for urgent funding to contain the outbreak.
UN Secretary-General António Guterres raised the alarm at the UN Headquarters in New York, warning that the worsening outbreak could claim more lives if the international community fails to expand funding and containment efforts.
Guterres said the humanitarian response was only 48 per cent funded, with existing resources expected to last only a few weeks at a time when operations need to be expanded.
He appealed for an additional $1.1 billion to sustain critical operations and prevent the outbreak from spreading further.
The UN chief said the world already had the knowledge and tools required to contain Ebola, interrupt transmission and save lives, but warned that insufficient international attention could undermine the response.
The World Health Organisation (WHO) said interventions had slowed transmission but had not yet reversed the overall trend, as insecurity, displacement and weak health systems continued to hamper containment efforts.
The outbreak is spreading through areas affected by decades of conflict, where more than 12 million people require humanitarian assistance and protection.
In Ituri Province alone, about one million people have been displaced, making surveillance, contact tracing, treatment and prevention more difficult.
The security situation has also directly affected the health response, with more than 40 healthcare workers killed and treatment centres and ambulances attacked during containment operations.
UN humanitarian agencies said responders were therefore dealing with both the disease and insecurity, which has continued to restrict access to some affected communities.
Despite the challenges, health and humanitarian agencies have expanded their response. The UN Office for the Coordination of Humanitarian Affairs (OCHA) said partners had deployed 35 additional safe and dignified burial teams and 286 community-based teams involving more than 2,500 volunteers and civil protection personnel.
WHO has deployed more than 260 experts and delivered over 330 tonnes of medical and logistical supplies to support treatment, surveillance and other containment activities.
The World Food Programme is supporting frontline operations and medical evacuations through the UN Humanitarian Air Service, while the International Organization for Migration (IOM) has screened more than one million people across the region.
Concern about the outbreak spreading beyond the DRC has also prompted additional preparedness measures in neighbouring countries.
IOM has launched a preparedness plan covering 11 countries, while WHO said Burundi, which borders affected areas of the DRC, was strengthening its laboratory capacity, response guidelines and public awareness.
Burundi has not recorded a confirmed case of the disease, according to WHO.
Meanwhile, Uganda has been declared free of its separate Bundibugyo Ebola outbreak after recording no new confirmed case for 42 consecutive days.
The Ugandan outbreak recorded 20 infections and two deaths before the country reached the internationally recognised benchmark for declaring an outbreak over.
The 42-day period represents twice the upper limit of Ebola’s incubation period and is the established criterion for determining that transmission has been interrupted.
The issues
The Ebola response in the DRC is being complicated by a combination of inadequate funding, insecurity, displacement and weak health systems.
The funding shortfall is particularly concerning because response operations need to expand while existing resources could run out within weeks. At the same time, attacks on healthcare workers and medical facilities are limiting access to affected communities and disrupting containment activities.
The displacement of about one million people in Ituri also makes it harder to trace contacts, monitor transmission and provide treatment, while the proximity of affected areas to neighbouring countries increases the risk of cross-border transmission.
What’s being said
Guterres warned that the international community must provide additional funding before critical Ebola operations are forced to scale back.
WHO said its interventions had slowed transmission but had not yet reversed the overall trend, with insecurity and displacement continuing to complicate the response.
Health agencies said the situation required sustained international support because the outbreak was occurring in communities already affected by prolonged conflict and humanitarian needs.
What’s next
The UN is seeking an additional $1.1 billion to sustain and expand humanitarian and Ebola response operations in the DRC.
WHO, IOM and other agencies will continue surveillance, contact tracing, treatment, vaccination and preparedness activities while neighbouring countries strengthen their capacity to detect and respond to possible imported cases.
Bottom line
The Ebola outbreak in the DRC is becoming increasingly difficult to contain as high transmission, insecurity, displacement and inadequate funding converge.
The UN says the tools to control the disease already exist, but without an additional $1.1 billion, the response risks losing momentum at a critical point.
The Federal Government says it will work with Taraba to develop opportunities in agriculture, energy, tourism, infrastructure and mineral resources.
The government says federal infrastructure projects and new investments are intended to improve connectivity and support economic activity in the state.
The Information Minister says subsidy reforms generated N15.8 trillion in additional Federation resources between June 2023 and December 2025.
Main story
The Federal Government has reaffirmed its commitment to partnering with the Taraba State Government to develop the state’s potential in agriculture, energy, tourism, infrastructure and mineral resources.
The Minister of Information and National Orientation, Mohammed Idris, stated this on Thursday in Jalingo during a gala night marking Taraba’s 35th anniversary and the unveiling of the Taraba Regional Development Master Plan.
Idris described the master plan as a framework for guiding the state’s long-term development, but said its value would ultimately depend on how effectively it was implemented and translated into improvements in the lives of residents.
He said Taraba had significant opportunities in agriculture and agro-processing, livestock, hydropower, tourism, manufacturing and mineral development, which could generate jobs and expand economic activity if properly developed.
The minister commended Gov. Agbu Kefas for adopting the long-term development framework and highlighted investments by the state government in education, healthcare, infrastructure, security and economic development.
Among the initiatives, he cited the provision of more than N1.8 billion in 2026 for the National Examinations Council (NECO), Basic Education Certificate Examination (BECE) and National Business and Technical Examinations Board (NABTEB) registration for students in public schools.
He also pointed to about $268 million in financing agreements between Taraba and the ECOWAS Bank for Investment and Development for an integrated industrial park, 10,000 hectares of irrigated rice production and processing, and a 50-megawatt solar power plant in Jalingo.
According to Idris, such investments would help move the state beyond the extraction of its natural resources towards production, processing, job creation and broader economic development.
The Federal Government, he said, was complementing the state’s efforts through infrastructure projects covering several parts of Taraba.
These include the Gembu-Mbamnga-Yang (Lip) Road, Bali-Serti-Gashaka-Gembu Road, interventions on the Jalingo-Mutum Biyu-Tella-Wukari corridor, and further work on the Mayo Selbe-Gembu, Mutum Biyu-Garba Chede and Jalingo-Numan roads.
Idris said the projects would improve movement between communities while supporting trade, agriculture, tourism, security and the transportation of goods and people.
He also reaffirmed the Federal Government’s interest in developing Taraba’s agricultural, energy and mineral resources, including the Mambilla Hydroelectric Power Project.
The minister linked infrastructure development to security, saying investment, farming, tourism and business activity would be difficult to sustain where communities remained unsafe.
He said the Federal Government was pursuing reforms towards the establishment of State Police, which could strengthen local intelligence gathering and response, particularly in Taraba because of its large terrain and dispersed border communities.
Idris also cited the establishment of the Nigerian Army’s 10 Division in Jalingo, with responsibility for Taraba and Adamawa, as part of efforts to strengthen security in the region.
The minister further defended the Federal Government’s economic reforms, saying the removal of petrol subsidy had generated N15.8 trillion in additional resources for the Federation between June 2023 and December 2025.
He said about N5.4 trillion accrued to the Federal Government, while approximately N10.4 trillion went to states and local governments for development priorities.
Idris said the Federal Government would not return to the previous subsidy regime, arguing that the focus should instead be on consolidating the gains of the reforms, protecting vulnerable Nigerians and ensuring that additional public resources produce visible improvements.
He said the development agenda should prioritise young people, women, farmers, small businesses and communities by expanding access to markets, jobs and public services.
The minister also pledged closer cooperation between the Federal Ministry of Information and National Orientation and the Taraba State Ministry of Information and Re-Orientation to ensure that residents understood and participated in the implementation of the master plan.
He said the plan should extend beyond government offices and become a development framework embraced by farmers, entrepreneurs, students, traders and communities across the state.
Kefas, in his remarks, called for continuity in governance and acknowledged the contributions of former military administrators and elected governors to Taraba’s development.
He said his administration would build on previous achievements, correct shortcomings, complete viable projects and create new opportunities for future generations.
The governor said development should remain larger than any administration, political party, ethnic group or individual, urging former leaders to continue contributing their experience to the state’s development.
The issues
The unveiling of the master plan comes as Taraba seeks to convert its agricultural, energy, tourism and mineral resources into sustained economic activity.
The key challenge will be implementation. The state has identified major investment opportunities and secured financing for projects including an industrial park, irrigated agriculture and solar power, while the Federal Government is supporting connectivity through road and other infrastructure projects.
Security will also remain important because the state’s large territory and border communities can affect the movement of people, agricultural produce, tourists and investment.
What’s being said
Mohammed Idris said the success of the master plan would ultimately be determined by the roads built, businesses created, jobs generated, communities connected and lives improved.
He said the Federal Government remained committed to supporting Taraba’s development and would continue working with the state to unlock its economic potential.
Agbu Kefas said governance and development must be continuous, with each administration building on the work of those before it.
What’s next
The Taraba Regional Development Master Plan is expected to guide the state’s development priorities and provide a framework for investment in key sectors.
The Federal Government and Taraba State Government are also expected to continue collaboration on infrastructure, security and projects aimed at developing agriculture, energy, tourism and other productive sectors.
Bottom line
Taraba is seeking to turn its natural and economic advantages into long-term development through a new regional master plan, while the Federal Government says it will support the state through infrastructure, investment and policy collaboration.
The immediate test will be whether the projects and financing already identified can translate the plan into jobs, stronger connectivity, increased production and improved living conditions for residents.
Hardware wallets generally suit long-term storage, while software wallets provide easier access for regular transactions. Custodial wallets can be simpler for beginners because a company manages the private keys, whereas non-custodial wallets give users direct control—and direct responsibility—over their assets.
CryptoVantage approaches wallet selection as a practical comparison rather than attempting to identify one product that is right for everyone. Its wallet resources explain how security, recovery, supported networks, and ease of use should influence the decision.
The right choice ultimately depends on how much cryptocurrency a person holds, which assets they use, how frequently they transact, and whether they are comfortable protecting their own private keys.
Crypto Wallet Types Compared
A cryptocurrency wallet does not store coins in the way a physical wallet holds cash. Digital assets remain recorded on a blockchain. The wallet manages the private keys that allow the owner to access and transfer them.
Different wallet types provide different levels of convenience, control, and exposure to online threats.
Wallet type
Company examples
Best suited to
Main tradeoff
Custodial wallet
Coinbase, Kraken and Gemini
Beginners and exchange users
The provider controls the private keys
Mobile or software wallet
MetaMask, Trust Wallet, Exodus and Zengo
Payments, DeFi and regular transactions
Greater exposure to online threats
Browser wallet
MetaMask and Rabby
Connecting to decentralized applications
Malicious sites and approvals can create risks
Hardware wallet
Ledger, Trezor and ELLIPAL
Long-term storage and larger holdings
Requires an upfront purchase and careful setup
Specialized ecosystem wallet
Phantom and Argent
Solana, Ethereum, NFTs and DeFi
Network support may be more limited
No category is automatically superior. A beginner holding a small amount on Coinbase has different requirements from an investor storing Bitcoin for several years or a user regularly accessing decentralized finance.
Custodial vs Non-Custodial Wallets
One of the first questions to answer when choosing a crypto wallet is who should control the private keys.
A custodial wallet places that responsibility with a third party. Cryptocurrency exchanges such as Coinbase, Kraken, and Gemini provide custodial accounts in which the company manages the keys associated with customer assets.
This structure can feel familiar to beginners. Customers access their accounts using an email address, password, and identity-verification process, and the company may provide conventional account-recovery assistance.
The tradeoff is dependence on the provider. The customer must trust the company to protect the assets, process withdrawals, and maintain access to its platform. Withdrawals could be delayed during technical problems, security reviews, or periods of unusually high demand.
A non-custodial wallet gives the user direct control of the private keys. Examples include MetaMask, Trust Wallet, Exodus, and hardware devices produced by Ledger, Trezor, and ELLIPAL.
Self-custody reduces reliance on an exchange, but it also transfers greater responsibility to the individual. The wallet provider normally cannot restore access if the user loses the required recovery credentials.
The choice is therefore not simply between “safe” and “unsafe.” It is between different forms of control, convenience, and responsibility.
Hot Wallet vs Cold Wallet: Which Is Better?
Hot wallets are connected to the internet. They include mobile applications, desktop software, and browser extensions.
MetaMask is commonly used as a browser extension and mobile wallet for Ethereum-compatible applications. Trust Wallet provides mobile access to multiple blockchain networks, while Exodus offers desktop and mobile applications with portfolio-management features.
These wallets can be practical for people who regularly send cryptocurrency, use decentralized applications, or interact with NFTs. Their main advantage is convenient access from a phone or computer.
That connectivity creates greater exposure to phishing, compromised devices, fraudulent applications, and malicious browser extensions. A hot wallet may therefore be more appropriate for money intended for regular use than for an entire long-term portfolio.
Cold wallets keep private keys offline, most commonly through a hardware device. Ledger offers devices such as the Ledger Nano S Plus and Ledger Nano X, while Trezor’s current range includes models in its Trezor Safe series. ELLIPAL produces devices such as the ELLIPAL Titan, which uses an air-gapped design and QR codes for transaction signing.
Hardware wallets can reduce exposure to remote attacks, but they do not eliminate user error. Owners must still protect their backups, verify transaction details, and keep wallet software or firmware updated.
For many users, the practical answer is not choosing between hot and cold storage. It is using both for different purposes.
How to Choose a Crypto Wallet
Wallet rankings are useful only when readers understand the criteria behind them. A product with the longest list of supported tokens is not necessarily the most secure or easiest for a beginner to manage.
These criteria help explain why different products may be appropriate for different people.
Ledger and Trezor hardware wallets, for example, may appeal to users who prioritize offline key storage. MetaMask and Rabby are designed for interacting with decentralized applications, while Zengo uses a multi-party computation security model instead of depending on a traditional seed phrase for its standard recovery process.
Argent concentrates on Ethereum-related applications and smart-wallet functionality. Phantom is commonly associated with Solana but has expanded its support beyond a single network. Coinbase, Kraken, and Gemini provide custodial accounts for users who prefer an exchange to manage wallet infrastructure.
These products should not be treated as interchangeable. Their differences matter more than their overall popularity.
Best Crypto Wallet Types for Different Users
The most suitable wallet often becomes clearer when the user starts with a specific purpose.
Beginners
A custodial account with an established exchange such as Coinbase, Kraken, or Gemini may be easier for someone purchasing cryptocurrency for the first time. These companies provide familiar sign-in systems and customer-support channels.
Beginners interested in self-custody might consider mobile products such as Trust Wallet, Exodus, or Zengo, but they should learn how backup and recovery work before transferring significant funds.
Ease of use should not be the only consideration. A simple interface can still leave users responsible for irreversible transactions.
Long-Term Bitcoin Holders
Someone storing Bitcoin for several years may prioritize offline key protection over rapid access.
Hardware products from Ledger, Trezor, and ELLIPAL are examples of devices designed for this purpose. Bitcoin-focused users may also consider software such as Sparrow Wallet when they require greater control over transaction management, although advanced features can create a steeper learning curve.
The value being protected should be considered when deciding whether the cost and additional setup of a hardware wallet are justified.
Active Traders
People who frequently buy and sell crypto may find an exchange account more convenient because their assets are already available for trading.
Coinbase, Kraken, and Gemini are recognizable US-focused examples. International users may have access to different companies depending on local rules and service availability.
Keeping every asset on an exchange increases dependence on that platform. Active traders may choose to transfer longer-term holdings into a separate non-custodial wallet.
Stablecoin Users
People using USDC, USDT, or other stablecoins should verify both asset and network support.
A wallet may support USDC on Ethereum but not on Solana, Base, Polygon, or another network. The same issue applies to USDT, which circulates across several blockchains.
The differences between how stablecoins and Bitcoin serve different purposes can influence wallet selection. Someone using stablecoins for payments may prioritize mobile access and affordable networks, while a long-term Bitcoin holder may care more about offline security.
DeFi Users
MetaMask and Rabby are examples of wallets built for connecting to Ethereum-compatible decentralized applications. Phantom provides access to the Solana ecosystem and other supported networks, while Argent focuses on Ethereum and Layer 2 services.
Hardware wallets from Ledger and Trezor can also connect to compatible software wallets. This allows users to access decentralized applications while requiring transactions to be confirmed through the physical device.
Hardware confirmation does not make every decentralized application safe. Users must still examine permissions and verify that they are interacting with the correct website.
NFT Collectors
NFT collectors need a wallet supporting the blockchain on which their assets exist.
MetaMask may suit Ethereum-based collections, while Phantom is commonly used for Solana NFTs. Users should verify marketplace compatibility and network support before transferring an NFT.
A dedicated wallet for interacting with NFT marketplaces can also limit the number of assets exposed if a malicious transaction is approved.
Mobile-First Users
Trust Wallet, Exodus, Zengo, MetaMask, and Phantom all provide mobile applications, but they use different custody, recovery, and network models.
A mobile-first user should compare biometric access, backup procedures, supported assets, application permissions, and integration with decentralized services. The application should be downloaded only through the provider’s official website or a verified app-store listing.
Asset and Network Support Can Be Overlooked
A wallet advertised as supporting thousands of assets may not support every blockchain or every version of a token.
Bitcoin operates on its own network, while Ethereum-based tokens follow different technical standards. Assets such as USDC and USDT are issued across several networks. Selecting the wrong network can result in lost funds or a complicated recovery process.
Users should verify:
The exact cryptocurrency
The blockchain network
Whether the wallet can display and send the asset
Whether the receiving platform supports the same network
Applicable network fees
Whether a destination tag or memo is required
Supported networks and integrated services may also vary by country. A wallet application available in the United States may offer different purchasing, staking, or exchange features in Canada, the United Kingdom, Australia, or Nigeria.
Compatibility should always be confirmed through the wallet provider’s current documentation before sending funds.
How to Keep a Cryptocurrency Wallet Secure
A technically strong wallet cannot protect someone who shares a recovery phrase, approves a malicious transaction, or installs fraudulent software.
Hardware wallets should be purchased directly from manufacturers such as Ledger, Trezor or ELLIPAL, or through sellers officially authorized by those companies. A device from an unknown marketplace could have been opened or altered before delivery.
Wallet applications such as MetaMask, Trust Wallet, Exodus, Ledger Live and Trezor Suite should be downloaded through verified sources. Search advertisements, imitation websites and unsolicited social media links should be treated cautiously.
Do not store a recovery phrase in email or ordinary cloud storage
Verify the full destination address
Confirm the blockchain network
Test new addresses with a small transaction
Review smart-contract permissions before approval
Keep wallet software and device firmware updated
Ignore unsolicited support messages
Separate long-term holdings from regularly used funds
MetaMask, Coinbase, Ledger, Trezor, and other legitimate providers should not need a recovery phrase to verify an account or provide customer support. Anyone requesting that information should be treated as a potential scammer.
Using More Than One Wallet
Many users divide their assets between several products.
A person might keep long-term holdings on a Ledger or Trezor device, maintain a smaller balance in MetaMask for DeFi, and use Coinbase or Kraken when buying or selling cryptocurrency.
This separation can reduce the value exposed through any single service. If a browser wallet is compromised, assets held offline on a separate hardware wallet are not necessarily affected.
The strategy still requires organization. Each additional wallet can introduce another recovery process, address, and set of supported networks. Maintaining more wallets than a person can confidently manage may increase the likelihood of mistakes.
A simple two-wallet structure—a hardware wallet for savings and a software wallet for regular activity—may provide enough separation for many users.
Why Independent Wallet Research Matters
Wallet companies naturally emphasize the benefits of their own services. Exchanges highlight accessibility and account recovery, mobile wallet developers focus on convenience, and hardware manufacturers emphasize offline protection.
Readers benefit from research that explains the limitations as clearly as the features. They should be able to determine which user a wallet is intended for, how recovery works, and why a particular product appears in a comparison.
Commercial relationships should also be disclosed. Readers need to know when a publication may receive compensation through a product link, and affiliate relationships should not replace consistent evaluation standards.
Named authors, clear criteria, and accessible explanations allow readers to evaluate the research rather than accepting a ranking solely on trust.
Questions to Ask Before Selecting a Wallet
Before transferring cryptocurrency, users should be able to answer these questions:
Which cryptocurrencies and networks must the wallet support?
Will the assets be stored long-term or used frequently?
Who will control the private keys?
How does backup and recovery work?
What happens if the device is lost or damaged?
Does the wallet support the required phone or computer?
Is access to DeFi or NFTs necessary?
What fees apply to integrated services?
Is the provider transparent about its security model?
Can the user manage the wallet without taking unnecessary risks?
The right answer may be a Coinbase custodial account for one beginner, a Zengo mobile wallet for another, or a Ledger, Trezor, or ELLIPAL device for someone prioritizing offline storage.
Frequently Asked Questions
What is the best crypto wallet for beginners?
There is no single best wallet for every beginner. Coinbase, Kraken, and Gemini provide custodial accounts with familiar access and recovery processes. Trust Wallet, Exodus, and Zengo are examples of software wallets for beginners who want greater control. The user should understand custody and recovery before choosing.
Is a hardware wallet safer than a software wallet?
Hardware wallets from companies such as Ledger, Trezor, and ELLIPAL keep private keys offline, reducing exposure to some remote attacks. They can still be compromised through phishing, insecure backups, malicious transactions, or user error. A hardware wallet improves one part of security but does not remove the need for careful behavior.
What is the difference between custodial and non-custodial wallets?
A custodial service such as Coinbase or Kraken controls the private keys on the customer’s behalf. A non-custodial wallet such as MetaMask, Trust Wallet, Ledger, or Trezor gives the user control and responsibility for the keys and recovery credentials.
Can one wallet hold every cryptocurrency?
No wallet supports every asset and blockchain network. Users should confirm compatibility for each cryptocurrency and network before transferring funds. Particular care is needed with assets such as USDC and USDT that exist on multiple networks.
What happens if a hardware wallet is lost?
The cryptocurrency remains recorded on the blockchain. If the owner has securely retained the correct recovery backup, access can generally be restored using a compatible replacement device. Losing both the device and its recovery information may make the assets permanently inaccessible.
Should cryptocurrency be kept on an exchange?
Exchange custody can be convenient for buying and trading, but the exchange controls the private keys. Some users keep active trading funds on services such as Coinbase, Kraken, or Gemini while transferring long-term holdings to a non-custodial wallet.
Can a cryptocurrency wallet be hacked?
Wallets and their users can be targeted through malware, phishing, fraudulent applications, compromised devices, and malicious smart contracts. Offline hardware wallets reduce certain online risks, but no wallet provides complete protection against every threat.
Choosing a Wallet Based on Purpose
There is no single wallet that is right for every cryptocurrency user. The most suitable choice supports the required assets, provides an understandable recovery process, and matches how frequently the owner needs access.
A hardware device may make sense for long-term storage, a software wallet may be more convenient for regular activity, and a custodial account may provide an easier starting point for a beginner. Some users will benefit from combining these approaches.
The important decision is not which wallet has the most features. It is which security, custody, and recovery model the user understands well enough to manage responsibly.
About the Author
CryptoVantage is a cryptocurrency publication providing educational guides, news, analysis, and reviews covering Bitcoin, blockchain, exchanges, wallets, fintech, and digital assets. Its team of writers, researchers, and cryptocurrency specialists creates accessible content for both newcomers and experienced crypto users, helping readers better understand the rapidly evolving digital-asset industry.
CBN allotted N1.9 trillion in OMO bills at spot rates of 19.85% and 19.32%
Investors submitted about N4.4 trillion in bids against the N1 trillion initially offered
The auction marks the second OMO sale since retail investors regained direct access to the market
Main Story
The Central Bank of Nigeria (CBN) has raised about N1.9 trillion through its latest Open Market Operation (OMO) auction, cutting rates as investors continued to show strong demand for naira-denominated securities.
The CBN offered N1 trillion across 96-day and 152-day OMO bills at Thursday’s auction, but aggregate demand reached about N4.4 trillion, more than four times the amount initially offered.
The 152-day instrument attracted the stronger demand, reflecting investors’ continued appetite for longer-duration naira assets. The CBN ultimately allotted N1.9 trillion across both tenors at spot rates of 19.85% and 19.32%.
The auction was the second OMO operation since the CBN lifted restrictions on retail investors’ direct participation in OMO securities. The expanded investor base has increased access to the instruments beyond banks and foreign portfolio investors.
MarketForces Africa reported that the latest pricing represents a reduction from the elevated yields previously associated with OMO securities when retail investors were excluded from direct participation.
The increased participation comes as the CBN continues to use OMO bills and other government securities to manage excess liquidity and influence short-term money-market conditions.
What’s Being Said
“With an influx of additional funds from the retail segment, Apex Bank has begun to relax elevated yields on OMO papers, as seen in its Treasury bill pricing.” MarketForces Africa.
What’s Next
The CBN is expected to continue using OMO auctions alongside Treasury bills and other liquidity-management tools as it manages excess funds in the banking system.
Investor demand and the rates accepted at subsequent auctions will provide a clearer indication of whether the recent decline in OMO yields is becoming an established market trend.
Bottom Line
The Bottom Line: The latest auction shows that reopening OMO participation to retail investors has expanded demand for CBN securities while giving the central bank room to accept lower yields. For investors, the shift points to a changing return profile for short- and medium-term naira instruments.
Nigeria’s real GDP growth reached 3.89% in Q1 2026, up from 3.13% a year earlier
Inflation fell to 15.43% in July from 24.94% a year earlier, according to the finance minister
Government identifies agriculture, energy, manufacturing, mining and the digital economy as priority growth sectors
Main Story
Nigeria’s economy has stabilised and could grow by more than 4% in 2026, Finance and Coordinating Minister of the Economy Taiwo Oyedele said on Thursday in Abuja.
Speaking after the 158th meeting of the National Economic Council (NEC), Oyedele said real Gross Domestic Product (GDP) growth increased to 3.89% in the first quarter of 2026 from 3.13% in the corresponding period of 2025.
He said headline inflation had also declined to 15.43% at the end of July from 24.94% a year earlier, while Nigeria’s trade surplus nearly doubled to N34.7 trillion in the first quarter of 2026 from N17.7 trillion recorded in 2025.
Oyedele put public debt at N159.28 trillion, equivalent to 13.7% of GDP, and said debt service as a share of revenue had fallen to below 60% in 2025 from almost 100% in 2022.
“Our real Gross Domestic Product growth rate was 3.89 per cent for Q1 of 2026, up from 3.13 per cent one year ago,” Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy.
The minister also pointed to improved sovereign credit assessments, saying Fitch Ratings, Moody’s and S&P had upgraded Nigeria’s sovereign credit rating between April 2025 and May 2026. S&P upgraded Nigeria from B- to B with a stable outlook in May 2026.
He said Nigeria’s exit from the Financial Action Task Force (FATF) grey list in October 2025 and the European Union’s anti-money laundering and counter-terrorist financing deficiency list in January 2026 should reduce friction around cross-border capital flows.
What’s Being Said
“Nigeria’s economy has stabilised, and the task ahead of us now is to convert stability to shared prosperity.” Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy.
Oyedele said the government’s focus must now shift from stabilisation towards stronger, job-rich growth that improves living standards and reduces inequality.
What’s Next
NEC has identified agriculture, energy, manufacturing, mining and the digital economy as priority sectors for accelerated development.
The government will also need to manage food inflation, geopolitical and commodity-price shocks, foreign-exchange vulnerabilities and fiscal pressures associated with the election cycle, according to Oyedele.
Bottom Line
The Bottom Line: Nigeria’s latest macroeconomic indicators point to improved stability, but the government’s bigger test is converting that stability into stronger employment, lower poverty and broader household prosperity. The next phase of the reform programme will therefore be judged less by headline indicators and more by how widely the gains are felt.
Dangote Refinery raises its petrol gantry price by ₦15 to ₦1,200 per litre
Marketers report pump prices ranging from about ₦1,250 to ₦1,300 in some locations
IPMAN says repeated price changes are making business planning increasingly difficult for marketers
Main Story
Petrol marketers have raised concerns over rising Premium Motor Spirit (PMS) prices after Dangote Petroleum Refinery increased its gantry price to ₦1,200 per litre, with pump prices approaching ₦1,300 in some locations.
The latest ₦15 increase took effect on August 26, 2026, moving Dangote’s gantry price from ₦1,185 to ₦1,200 per litre. It followed a ₦20 increase from ₦1,165 to ₦1,185 five days earlier, bringing the refinery’s cumulative increase to ₦35 per litre within five days.
The refinery also increased its coastal PMS price from ₦1,562,265 to ₦1,582,380 per metric tonne and instructed customers to return existing Authorisation to Collect documents for repricing before new volume contracts could be issued.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said the frequent changes were creating uncertainty for marketers, who have to account for replacement costs, transportation and other downstream expenses.
“Every time Dangote increases his price, our price will also rise,” said Chinedu Ukadike, National Publicity Secretary, Independent Petroleum Marketers Association of Nigeria.
Checks reported in Abuja showed some major retail outlets had already adjusted pump prices, with NNPC Retail moving from ₦1,250 to ₦1,270 per litre and TotalEnergies from ₦1,250 to ₦1,275.
The price increase has occurred despite a decline in international crude prices. Brent crude was reported around $88.42 per barrel on August 27, while the broader oil market remained volatile amid geopolitical risks surrounding the Middle East.
What’s Being Said
“The price is expected to go down slowly because marketers are trying to recover their losses. Marketers have recorded very significant losses over the last 18 months due to the price fluctuations,” an operator with the Major Energies Marketers Association of Nigeria said in comments reported on the downstream market.
IPMAN has maintained that petrol prices are affected by several factors, including crude oil prices, foreign exchange movements, refinery pricing and geopolitical developments.
What’s Next
Marketers are expected to continue adjusting retail prices as the new ₦1,200 Dangote gantry price feeds through the supply chain
Further changes in crude prices and foreign exchange conditions will influence replacement costs and pump prices
The downstream market will be watched for wider price adjustments across filling stations and depots
Bottom Line:
The latest Dangote increase shows that lower international crude prices do not automatically translate into cheaper petrol in Nigeria. For consumers and marketers, domestic refinery pricing, replacement costs, logistics and exchange-rate conditions remain critical determinants of pump prices.
President Bola Tinubu orders comprehensive reforms to address Nigeria’s repeated football qualification failures
National Sports Commission Chairman Shehu Dikko is directed to work with the NFF Secretariat and stakeholders
Reform process will cover governance, administration, development pathways, domestic competitions and accountability
Main Story
President Bola Tinubu has directed a comprehensive reform of Nigerian football, citing repeated failures to qualify for major regional, continental and world tournaments.
The directive, announced on August 27 by Presidential Special Adviser on Information and Strategy Bayo Onanuga, targets structural weaknesses in the administration and development of the sport.
Tinubu said the reform would strengthen governance, administration, stakeholder representation, player development pathways, domestic competitions and accountability across Nigerian football.
“The reform must respond to a longstanding need to strengthen governance, administration, stakeholder representation, development pathways, domestic competitions and accountability across Nigerian football,” President Bola Tinubu said.
The President said football had continued to struggle despite significant public support, investment and national attention, while other sports had recorded progress following the reset of the sector under the re-established National Sports Commission.
“Football, Nigeria’s most popular sport and the greatest beneficiary of public support, investment and national attention, has continued to struggle basically due to structural deficits within the system,” Tinubu said.
Tinubu directed the Chairman of the National Sports Commission, Shehu Dikko, to work with the Nigeria Football Federation (NFF) Secretariat and relevant stakeholders to maintain essential football administration while facilitating a broad and consultative reform process.
The process is expected to include engagement with FIFA and the Confederation of African Football (CAF), while preserving Nigeria’s obligations under the international football framework.
The directive came hours after NFF President Ibrahim Musa Gusau, General Secretary Mohammed Sanusi and members of the federation’s executive committee resigned, according to Reuters. The resignations followed mounting criticism after Nigeria’s failure to qualify for the 2026 men’s World Cup and the Super Falcons’ failure to reach the 2027 Women’s World Cup.
The Issues
The presidential directive places governance and institutional administration at the centre of Nigeria’s football problems. The State House said the reform is intended to address weaknesses extending from stakeholder representation and development pathways to domestic competitions and accountability.
The timing also links the reform to a significant leadership transition within the NFF. Reuters reported that the federation’s leadership resigned about one month before its elective congress scheduled for September 27 in Lafia, creating an immediate need for administrative continuity during the transition.
What’s Being Said
“Nigerian football must begin to match the country’s exceptional talent, passion and resources with stronger institutions and sustained performance.” President Bola Tinubu.
NFF President Ibrahim Gusau, announcing his resignation on August 27, said his decision was intended to give other Nigerians an opportunity to contribute to the development of football. Channels Television reported that Gusau also maintained that he was leaving the federation in a better position than he found it.
What’s Next
Shehu Dikko and the NFF Secretariat are expected to work with football stakeholders to maintain essential administration during the transition
The National Sports Commission is expected to facilitate broader consultations on reforms across Nigerian football
The reform process will involve appropriate engagement with FIFA and CAF while maintaining Nigeria’s international football obligations
The Bottom Line:
Tinubu’s directive moves Nigeria’s football crisis beyond questions of team performance and places institutional governance, accountability and development systems at the centre of the response. Its effectiveness will depend on whether the proposed consultation produces durable administrative reforms rather than another short-term leadership change.
By BizWatch Nigeria Markets Desk | August 28, 2026
Key Points
Nigerian equities rebound as market capitalisation rises by about ₦305.56 billion
The NGX All-Share Index gains 473.17 points to close at 239,156.09
Banking stocks lead the recovery as the market ends an 11-session losing streak
Main Story
Nigerian equities rebounded on Thursday, August 27, as the Nigerian Exchange (NGX) All-Share Index gained 0.20% and market capitalisation increased by about ₦305.56 billion.
The All-Share Index rose 473.17 points to close at 239,156.09, while market capitalisation increased to ₦154.44 trillion, according to NGX data cited in market reports. The rebound followed an extended period of selling pressure that had pushed the market through an 11-session losing streak.
Buying interest was concentrated in selected banking, insurance and other large-cap stocks. First HoldCo, Access Holdings and United Bank for Africa were among the stocks recording notable gains during the session.
Trading activity remained mixed. About 499.96 million shares valued at ₦35.15 billion changed hands in 40,323 deals, with trading volume declining while the total value of transactions increased compared with the previous session.
Zenith Bank accounted for 14.06% of traded volume and 23.37% of transaction value, making it the most actively traded stock by both measures.
Market breadth, however, remained weak. Omatek led the gainers with a 9.60% increase, followed by Cornerstone Insurance, Mansard Insurance and Abbey Mortgage Bank. Fidson Healthcare led the decliners after falling 9.98%.
The rebound also came as FTSE Russell confirmed that Nigeria’s reclassification from Unclassified to Frontier Market status will proceed from September 21, 2026, following a review of concerns surrounding the country’s transition to a T+1 settlement cycle.
What’s Being Said
“This is an important moment for Nigeria’s capital market. But the real significance of returning to Frontier Market status is the opportunity it creates for the next phase of our market’s development,” Temi Popoola, Group Managing Director/Chief Executive Officer, NGX Group, said.
FTSE Russell said its review found that “no material settlement, operational or funding issues had been observed since the implementation of the T+1 settlement cycle,” clearing the major concern that had placed the reclassification under review.
What’s Next
FTSE Russell is scheduled to begin publishing its September 2026 Frontier Index Series indicative review files on September 2
Nigeria’s reclassification to Frontier Market status takes effect from the market open on September 21
Investors will watch whether the latest rebound develops into a broader recovery after the market’s extended losing streak
The Bottom Line:
The NGX rebound provides a welcome break from sustained selling pressure, but the weak market breadth shows that investor confidence has not yet recovered across the wider market. FTSE Russell’s confirmation provides an additional positive catalyst, but sustained gains will depend on broader participation rather than selective buying in a few heavyweight stocks.
Bitcoin trades around $80,000 as U.S. spot Bitcoin ETFs record an eighth consecutive day of net inflows
Spot Bitcoin ETFs attract about $2.8 billion across the eight-session buying streak
BlackRock’s IBIT accounts for the largest share of recent institutional demand, while Bitcoin faces resistance around $81,100
Main Story
Bitcoin has reclaimed the $80,000 level as sustained institutional demand through U.S. spot Bitcoin exchange-traded funds (ETFs) supports the latest cryptocurrency rally.
U.S. spot Bitcoin ETFs recorded about $232 million in net inflows on August 26, extending their positive streak to eight consecutive trading sessions and taking cumulative inflows during the run to about $2.8 billion, according to SoSoValue data cited by CoinDesk.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) accounted for the largest share of recent buying, reinforcing evidence of continued institutional participation in the market. Bitcoin traded around $80,300 on Thursday, while Reuters reported that the cryptocurrency gained about 2.88% to $80,699.22 during the session.
The rally has also coincided with broader gains in risk assets. Bitcoin’s move tracked gains in U.S. equities, while concerns about U.S. fiscal policy and the dollar have increased interest in alternative assets.
However, the pace of ETF purchases has moderated from the recent daily peak of about $606 million. Decrypt reported that the eight-day inflow streak remained significant but that the decline in daily inflows could indicate weakening buying pressure.
Technical levels are now central to the outlook. Bitcoin needs to sustain the $80,000 area to strengthen the case for a move towards the $81,100–$81,250 resistance zone identified in the supplied market analysis.
What’s Being Said
“The streak matters more than any single day, though its shrinking size points to weakening buying pressure,” Tim Sun, senior researcher at HashKey, said in comments reported by Decrypt.
Market reporting also shows that the broader investment environment remains supportive but sensitive to macroeconomic developments, particularly U.S. Treasury yields, fiscal policy and Federal Reserve expectations.
What’s Next
Investors will watch whether Bitcoin can hold above $80,000 and challenge the $81,100–$81,250 resistance area
ETF flows will remain a key indicator of whether institutional demand can maintain the current rally
Federal Reserve Chair Kevin Warsh’s scheduled Jackson Hole appearance on August 28 will be closely monitored for signals on U.S. monetary policy and broader risk sentiment
The Bottom Line:
Bitcoin’s latest advance has a stronger foundation than a purely leverage-driven rally because institutional money is continuing to enter through spot ETFs. However, slowing daily inflows and resistance above $80,000 mean the market still needs confirmation that the buying momentum can translate into a sustained breakout.
Naira appreciates to ₦1,338.58 per dollar at the Nigerian Foreign Exchange Market on Thursday
FX turnover falls 19% to about $191.6 million as deal count declines to 176
Gross external reserves rise by about $185.25 million to $53.30 billion
Main Story
The naira strengthened at the Nigerian Foreign Exchange Market (NFEM) on Thursday, closing at ₦1,338.58 per dollar as improved foreign exchange liquidity supported the local currency.
The naira appreciated by 0.37% from ₦1,343.59/$ recorded in the previous trading session, according to market data reported from the Central Bank of Nigeria (CBN). Transactions were conducted between ₦1,335 and ₦1,345 per dollar during the session.
Market activity, however, weakened as NFEM turnover fell 19% from about $235.99 million to $191.59 million, while the number of deals declined from 213 to 176.
The improvement in the official exchange rate comes amid stronger dollar liquidity, with foreign portfolio investors, exporters and non-bank corporates identified as important sources of foreign exchange supply. The CBN and other market participants have also continued to provide intermittent support to market liquidity.
The naira also strengthened against other major currencies. It appreciated by 0.41% against the pound to about ₦1,819.66 and gained 0.38% against the euro to approximately ₦1,559.53.
In the parallel market, however, pressure remained, with the dollar quoted around ₦1,405 and the euro around ₦1,600, according to market reports.
Nigeria’s external reserves also continued to build, rising by about $185.25 million to $53.30 billion. The stronger reserve position provides additional support for the country’s external liquidity buffer.
What’s Being Said
AIICO Capital said the naira’s recent stability has been supported by improving foreign exchange liquidity, although persistent demand and the gap between official and parallel-market rates remain factors that could limit further gains.
Market data also indicate that the official-parallel market gap remains significant, despite the recent appreciation at the NFEM window.
What’s Next
Continued FX supply from exporters, foreign portfolio investors and other market participants will remain important to the naira’s near-term direction
The CBN’s daily FX market operations and reserve position will be closely watched for signals on liquidity conditions
The official-parallel market spread remains a key indicator of underlying dollar demand
Bottom Line:
The naira’s latest appreciation points to improving conditions in the official FX market, but the weaker turnover and continued parallel-market premium show that liquidity improvement has not eliminated underlying demand pressure.
Something rather interesting is happening to Nigerian music on the Billboard charts, and it is probably worth looking at without reaching for the usual “Nigerian music is falling off” narrative.
So far in 2026, no Nigerian album has entered the Billboard 200. The last was Burna Boy’s No Sign of Weakness, which debuted at No. 200 in July 2025 and gave him a fifth entry on the chart. The most by any Nigerian artist.
At first glance, that might look like bad news.
Except there is a problem with that conclusion: Nigerian music hasn’t stopped showing up on Billboard.
In fact, some of the biggest Nigerian releases of 2026 have been doing quite well on other Billboard charts.
Take Asake’s M$NEY. The album reached No. 2 on Billboard’s World Albums chart. Davido’s Oriadé, released later in the year, followed with a No. 8 debut on the same chart.
Then things get even more interesting with Davido.
Oriadé generated 5,000 equivalent album units in the United States during its opening tracking week. Twelve of its 13 songs also appeared on Billboard’s U.S. Afrobeats Songs chart.
Read that again.
Twelve out of 13 songs were charting in the United States, yet the album itself did not make the Billboard 200.
That doesn’t exactly sound like an artist who has been ignored by American listeners.
It sounds more like something else is happening.
And this is where the Billboard 200 needs a little explaining.
The Billboard 200 isn’t a global popularity contest. It is, fundamentally, a measurement of album consumption in the United States. Billboard calculates its rankings using album sales, track-equivalent albums and streaming-equivalent albums, with U.S. consumption forming the basis of the chart.
In other words, an album can be absolutely massive in Nigeria and still struggle to enter the Billboard 200 if its consumption in the United States isn’t sufficiently high.
This is an easy distinction to miss.
Imagine an album dominating Apple Music and Spotify in Nigeria. Millions of people are listening. Social media is buzzing. The songs are everywhere. Everybody seems to know them.
That album can quite legitimately be one of the biggest releases in Nigeria and still not have enough U.S. consumption to enter the Billboard 200.
The two things aren’t contradictory.
And when you look at the recent history of Nigerian albums on the chart, the 2026 situation becomes even more intriguing.
Tems’ Born in the Wild debuted at No. 56 on the Billboard 200 in 2024 after generating about 16,000 U.S. equivalent album units in its first tracking week. Burna Boy’s No Sign of Weakness followed in 2025 with roughly 8,800 U.S. units, enough to squeeze into the chart at No. 200.
So we know Nigerian albums can get onto the Billboard 200 without generating blockbuster American numbers.
The question is whether the U.S. consumption generated by the major Nigerian releases of 2026 has simply not been high enough, or whether the way Nigerian audiences consume music makes the Billboard 200 a particularly difficult mountain to climb.
There is a clue in Davido’s Oriadé.
Its performance on the U.S. Afrobeats Songs chart suggests that American listeners are consuming individual songs from the project. But listening to several songs from an album is not necessarily the same thing as consuming the album at the volume required to generate a strong album-equivalent figure.
This distinction becomes particularly important in an era where streaming has made individual songs the primary currency of music discovery.
An American listener might hear a Davido song on a playlist, save it, stream it repeatedly and never listen to Oriadé from beginning to end.
That listener counts.
But the album doesn’t necessarily benefit in the same way it would if that person were consuming the project as a whole.
And there is another thing Nigerian music’s Billboard story tells us: the Billboard 200 is not the only scoreboard that matters.
Burna Boy and Shakira’s “Dai Dai” recently reached No. 1 on the Billboard Global 200, a chart that measures song activity across more than 200 territories.
That’s a fairly important detail.
If Nigerian music were genuinely disappearing from the international conversation, a Nigerian artist sitting at No. 1 on a global Billboard chart would be a rather awkward piece of evidence.
It therefore makes little sense to look at the absence of Nigerian albums from the Billboard 200 and conclude that Nigerian music has somehow lost its global appeal.
What we may actually be looking at is a conversion problem.
Nigeria has an enormous home market. Nigerian artists have audiences across Africa, the United Kingdom, Europe and the United States. Their songs can travel extraordinarily far.
But turning that international attention into the specific kind of U.S. album consumption measured by the Billboard 200 is a different exercise.
And that distinction matters for artists, labels and the people building careers around Nigerian music.
Perhaps the bigger question isn’t “Why aren’t Nigerian albums on the Billboard 200?”
Perhaps it is:
“What does it take to turn Nigerian music’s enormous global audience into sustained U.S. album consumption?”
Because the ingredients aren’t entirely missing.
Davido’s Oriadé found enough U.S. traction for 12 of its 13 songs to chart on the U.S. Afrobeats Songs chart. Asake’s M$NEY reached No. 2 on World Albums. Burna Boy can still reach the top of a global Billboard chart.
The audience is there.
The attention is there.
The question is whether Nigerian music’s next phase of international growth will be able to convert that attention into the kind of U.S. album activity that puts more Nigerian projects on the Billboard 200.
And perhaps that’s a more useful conversation than declaring that Nigerian music has “gone missing.”
Because, frankly, it hasn’t.
It is still making noise.
We’re simply looking at a scoreboard where the noise isn’t being reflected in quite the way we expected.
AFC Capital Partners has launched the Infrastructure Climate-Resilient Fund Nigeria (ICRF Nigeria) to mobilise domestic institutional capital for infrastructure projects.
The SEC-registered closed-end fund will target pension funds, insurers, asset managers and other Nigerian institutional investors.
ICRF is a $750 million pan-African fund targeting 10 to 12 infrastructure projects and up to $3.7 billion in total financing.
Main story
AFC Capital Partners (ACP), the asset management arm of Africa Finance Corporation (AFC), has launched a new investment vehicle aimed at directing Nigerian institutional capital into climate-resilient infrastructure projects across Nigeria and other African markets.
The Infrastructure Climate-Resilient Fund Nigeria (ICRF Nigeria), registered with the Securities and Exchange Commission (SEC) as a closed-end fund, will target investment from pension fund administrators, insurers, asset managers and other institutional investors with long-term capital.
The fund is the Nigerian platform of ACP’s broader $750 million Infrastructure Climate-Resilient Fund, which seeks to finance infrastructure capable of withstanding the physical and economic effects of climate change while generating commercial returns for investors.
Its launch is intended to address two challenges facing Africa at the same time: the shortage of financing for infrastructure and the difficulty of attracting private investment into projects that require significant spending on climate adaptation and resilience.
ICRF will use a combination of concessional and commercial funding to reduce investment risks and make projects more attractive to institutional investors. Rather than treating climate resilience as an additional consideration after a project has been designed, the fund will assess climate risks from the planning stage through construction and operation.
The wider fund has already secured commitments from a number of development and institutional investors, including a $253 million first-loss commitment from the Green Climate Fund (GCF). Other participants include the European Investment Bank, Development Bank of Southern Africa, Cassa Depositi e Prestiti, Nigeria Sovereign Investment Authority and African pension funds.
With these commitments, ACP expects the fund to mobilise as much as $3.7 billion in total financing and build a portfolio of between 10 and 12 infrastructure projects across Africa.
AFC President and Chief Executive Officer, Samaila Zubairu, said the initiative was designed to address the disconnect between Africa’s substantial domestic savings and its infrastructure financing needs.
He said Africa had more than $4 trillion in domestic resources, including pension, insurance and sovereign wealth funds, but much of this capital remained invested in low-risk and short-term instruments instead of productive sectors such as infrastructure, industry and innovation.
According to Zubairu, creating investment vehicles that match Africa’s long-term savings with its long-term development needs would allow domestic capital to play a greater role in financing the continent’s growth.
The Chief Executive Officer of ACP, Ayaan Adam, said ICRF Nigeria would give local institutional investors access to a diversified pool of infrastructure opportunities while helping to address the growing risks posed by climate change.
She said combining institutional funding with AFC’s infrastructure experience and blended finance would allow the fund to support projects that might otherwise struggle to secure sufficient private financing.
The fund will focus on renewable energy, transport and logistics, digital infrastructure and industrial development, sectors that ACP considers important to Africa’s economic transformation.
Investment decisions will also take into account physical climate risks, transition risks, emissions pathways and climate governance, with proposed projects undergoing climate-risk assessments before investment.
The Green Climate Fund will further support the initiative through first-loss financing and technical assistance for climate-risk assessment and monitoring, with the aim of reducing risks for investors and attracting additional private capital.
The issues
Africa faces a significant infrastructure financing gap while climate change is increasing the risks to existing and new infrastructure.
ICRF Nigeria is designed to address both challenges by creating a dedicated investment vehicle through which Nigerian institutional investors can deploy long-term capital into infrastructure while incorporating climate resilience into projects.
The approach also seeks to reduce the reliance of institutional investors on short-term and low-risk instruments by creating access to diversified infrastructure investments with commercial potential.
What’s being said
AFC President and CEO Samaila Zubairu said Africa’s substantial domestic resources needed to be connected more effectively to its long-term development requirements.
ACP CEO Ayaan Adam said ICRF Nigeria would provide Nigerian institutional investors with a dedicated route into climate-resilient infrastructure investments across Nigeria and Africa.
The Green Climate Fund is providing first-loss capital and technical assistance to help de-risk investments and attract additional institutional funding.
What’s next
ACP expects the wider ICRF to mobilise up to $3.7 billion in total financing and develop a portfolio of 10 to 12 infrastructure projects across Africa.
ICRF Nigeria will seek to attract investment from Nigerian pension funds, insurers, asset managers and other institutional investors for projects in sectors including renewable energy, transport, logistics, digital infrastructure and industrial development.
Bottom line
The launch of ICRF Nigeria creates a dedicated platform for Nigerian institutional capital to participate in climate-resilient infrastructure investment while supporting projects considered critical to the country’s and Africa’s economic development.
Stanbic IBTC Holdings, a member of Standard Bank Group, successfully hosted the 2026 edition of its Together4ALimb Walk recently. This year’s event attracted a significant turnout, with employees, beneficiaries, families, partners, and members of the public coming together for a commemorative awareness walk in the heart of Victoria Island, Lagos.
Now in its 12th year, Together4ALimb continues to make impactful changes in the lives of children living with limb loss. This year, the initiative welcomed 50 additional children – each receiving a custom-designed prosthetic limb along with a Stanbic IBTC Education Trust fund each valued at ₦1.5 million. In total, Stanbic IBTC has increased the total number of children supported since the programme’s inception to an impressive 250 beneficiaries.
Under the theme ‘Be Un’limb’ited’, the walk celebrated the achievements of beneficiaries while raising awareness. It underscored the message that losing a limb does not equate losing one’s future – a sentiment echoed by many attendees who participated wholeheartedly.
Speaking during her keynote address, Dr. Ibijoke Claudiana Sanwo-Olu, the First Lady of Lagos State, represented by Mrs. Ola Ibitoye, emphasised the importance of this initiative. She stated that every child deserves the opportunity to live, learn, dream, and succeed, regardless of their physical condition.
According to the First Lady of Lagos State, as delivered by Mrs Ibitoye, “As a mother and as a woman who cares deeply about the well-being of children, I understand how much support can mean to a child and to the entire family. A prosthetic limb can help a child move more freely, return to school, play with friends, and take part in everyday activities with greater confidence. Educational support also gives these children a chance to build a better future for themselves.
“This is why initiatives like this are so important. They remind us that inclusion is not simply about giving people support. It is about creating an environment where everyone has the opportunity to reach their full potential. I therefore commend Stanbic IBTC for using its Corporate Social Investment programme to address a real need in society.”
Speaking at the event, Chuma Nwokocha, Chief Executive of Stanbic IBTC Holdings, highlighted the importance of investing in youth and children as a crucial driver of economic progress. “Supporting the education and development of our younger generations is not just an ethical imperative, but an essential activity for economic growth,” he stated. “Through Together4ALimb, we are removing barriers to mobility and education; demonstrating that collaborative efforts are vital for fostering sustainable growth and securing a brighter future for the next generation.”
Similarly, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, emphasised the significance of unity in community efforts. “Together4ALimb embodies the power of collaboration in our communities. It is through unwavering engagement and shared efforts that we can create meaningful advancements. As we unite our voices and resources, we uplift one another and foster transformative changes that improve the quality of life for all,” he remarked.
Since its inception in 2015, Together4ALimb has made significant strides, providing prosthetic limbs and more than ₦300 million in scholarship funding to beneficiaries. The total benefits offered through this initiative now exceed ₦800 million. The programme has a broad reach across educational levels, as illustrated by its scholars: one child in creche, 23 in nursery, 97 in primary school, 55 in junior secondary school, and 38 in senior secondary. Notably, seven students have successfully completed secondary school education; eight are in universities; and two beneficiaries are receiving specialised support in special schools.
Together4ALimb remains a cornerstone of Stanbic IBTC’s wider commitment to economic development and financial inclusion. Through sustained investments in the health, mobility, and education of vulnerable children, Stanbic IBTC is making strides to create a more equitable society. As the initiative continues to grow, its impact reverberates throughout the community, reaffirming the message that every child deserves a chance to thrive, regardless of their circumstances.
As Stanbic IBTC reflects on this year’s achievements, the organisation looks forward to building on this foundation; creating more opportunities for empowered futures for children affected by limb loss; and enhancing their trajectory towards success.
