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Family Homes Funds Limited and the Nigeria Police Trust Fund have broken ground on a 257-unit affordable housing estate in Nasarawa State, kickstarting construction of units aimed at police personnel and other eligible buyers.

Nigerian banks increased lending to traders in the first half of 2026 while manufacturing saw a sharp drop in outstanding credit, according to a Nairametrics Research analysis of Central Bank sectoral data.

Rural Electrification Agency CEO Dr. Abba Aliyu has warned that creating a new NARE structure risks derailing Nigeria's electricity momentum, arguing public intervention is still needed to bridge commercial viability gaps.

FG hails Aliko Dangote Foundation plan to give eligible tertiary students 10 Dangote Refinery IPO shares each, potentially reaching four million students.

Nigeria's portfolio investment rose 45 per cent to $6.51 billion in the second quarter of 2026, Central Bank data show, with debt securities driving most of the increase as the government courts more foreign capital.

The US dollar retreated from multi-month highs as concerns about artificial intelligence capital expenditure and credit stress in technology infrastructure pushed Treasury yields lower and softened the Dollar Index toward 101.80.

Nigeria has commissioned a batch of mini-grids with roughly 16MW of combined capacity and a 1MW solar power installation in Gombe State, extending electricity to communities outside the national grid's reliable reach.

The Lagos Commodities and Futures Exchange has obtained a licence from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, positioning itself to bring greater price transparency to petroleum product trading.

Sunbeth Capital is mobilising about N150 billion through commercial paper issuances to fund operations across Nigeria's cocoa value chain, targeting aggregation, processing support and export readiness.

Nigeria's Debt Management Office on Monday launched a N1.75 trillion bond auction, the first of three fourth-quarter offers, after federal allotments more than doubled to N7.15 trillion in the first nine months of 2026.

Nigeria's main stock index fell for a third consecutive week, with banking shares driving an roughly N535 billion loss in market value as investors locked in profits and reassessed valuations.

The Financial Times' Big Read on the world's fastest-growing cities reports that Africa's urban centres are set to expand by 19 million people a year, nearly two Londons annually, with growth concentrating in a handful of hubs and spreading in unfamiliar patterns.

The Major Energies Marketers Association of Nigeria has rejected the federal government's proposed N1,350 per litre ceiling on petrol ex-gantry and landing costs, arguing that arbitrary price caps distort competition without fixing supply bottlenecks.

Wisdom Kwati Group has unveiled Vision 2036, a plan to grow consolidated revenue to $100 billion by 2036 and pursue listings on the NGX and London Stock Exchange in 2027, with its smart city subsidiary leading the capital raise.

Pan-African conglomerate Amsons Group has agreed to buy Geneva-based Oryx Energies' Tanzanian downstream oil business for more than $230 million, taking on retail stations, storage terminals and a stake in TIPER operations.

Nigeria's 30-day petrol discount has failed to reach most motorists, with NNPCL stations back at N1,405 a litre and the N66 reduction available only through the company's app at self-service pumps, while transport fares keep rising.

At Carbon Markets Africa Summit 2026 in Kigali, policymakers and financiers from 45 countries called for high-integrity, investable carbon projects as Africa shifts from readiness rhetoric to issuance and offtake.

Ecobank Nigeria has cut interest rates on its SuperSavers product effective October 16, with reductions of up to 3.18 percentage points across four deposit tiers after the CBN's MPR reset to 23%.

Nigerian equities fell 0.33% for the week to 247,539.73 points as the banking index shed 3.15%, while oil and gas stocks rose 3.13% and market breadth stayed positive.

Mainstack chief Ayobami Oyaleke is urging Nigeria's startup ecosystem to judge success by revenue, retention and risk management rather than funding volumes, warning against over-reliance on debt.

The Federal Government has begun construction of a 17.7MW interconnected solar mini-grid in Ibadan under the DARES programme, targeting 20 hours of daily supply and 22,597 connections across five communities.

The World Bank Group plans to increase its metals and minerals support fivefold to $19 billion over FY26-FY30, with eight countries signing partnership compacts.

Aliko Dangote said 10% of the group's Ethiopian fertiliser business will list on the Ethiopian Securities Exchange, where it is building a $2.5 billion urea complex.

Investors bid up to 18.18 per cent on the one-year bill but the Debt Management Office allotted only N269.06 billion against N450 billion offered, rejecting about 78 per cent of 364-day bids to keep a lid on borrowing costs after the rate cut.

The official NFEM rate firmed to N1,331.61 to the dollar while street quotes sat around N1,375 to N1,390, leaving a spread that has compressed sharply as reserves climb and central bank FX sales stay low.

The dollar index held near 102.07 and headed for its first weekly decline since mid-September as the 10-year Treasury yield fell about 15 basis points and the euro recovered from a 17-month low.

Spot gold rose about 0.4 per cent to near $4,187 an ounce, helped by a softer dollar and a sharp fall in Treasury yields, even as hot US producer prices kept Fed rate-hike bets alive and capped the metal near $4,235.

The three-year yield dropped 23 basis points to 6.45 per cent and the ten-year fell four basis points to 7.93 per cent as a record one-day rally in US Treasuries and a softer dollar lifted Nigerian dollar debt, with a $1.5 billion bond due in November 2027 in focus.

Nigeria's film industry contributed about N2.7 trillion to GDP in 2025, but the absence of auditable records on production costs, revenue and rights ownership makes it hard for investors to judge the returns on individual films, a BusinessDay investigation found.

Nigeria's electricity metering coverage reached 63.10% in August 2026 as distribution companies installed more than 141,000 meters, but about 4.7 million active customers still lack meters, leaving them exposed to estimated billing.

The Central Bank and Debt Management Office plan N5.40 trillion in Treasury bill offers between October and December 2026, with nearly 76% in 364-day instruments, a structure that largely rolls over maturing obligations rather than raising new money.

The Debt Management Office reported that the Federal Government spent N5.28 trillion servicing domestic debt between January and June 2026, with interest and rentals accounting for N4.95 trillion, spotlighting the cost of a borrowing strategy weighted towards short-dated securities.

Headline inflation eased to 14.63% in September 2026 from 15.39% in August as food prices retreated, but the National Bureau of Statistics reported that core and urban price pressures picked up, complicating the outlook for further rate cuts.

Guinea Insurance shares have risen 42.86 per cent in October 2026, breaking eight months of declines, as the company's recapitalisation and fresh capital raise investor interest despite a wider H1 loss.

Minister of Power Joseph Tegbe says there is no plan to raise electricity tariffs, insisting the focus is round-the-clock supply as the FG flags off 17.7MW of mini-grids in Oyo State.

Kenya's National Assembly has extended the reduced 8 per cent VAT rate on petroleum products for three months, forgoing about KSh81 billion in revenue to cushion consumers as crude prices rise.

The country ships raw ore while importing processed products, ceding the industrial and jobs gains that processing would create, industry observers warn.

The IMF used its fiscal monitor briefing to warn against restoring broad fuel subsidies. This analysis examines the fiscal arithmetic, the politics and the realistic path for Nigeria.

The Debt Management Office raised N450 billion at its treasury bills auction on Wednesday, leaning on the 364-day tenor as the market's primary pipeline climbed above N3 trillion.

Gross external reserves rose to an all-time high of $55.07 billion in early October while net reserves climbed to a record $46 billion, CBN Governor Olayemi Cardoso said.

South Africa's Allan Gray is favouring Nigerian equities over South Korea's Kospi, arguing Nigeria's rally is broad-based while the Kospi is narrowly concentrated.

Brent crude rose to about $107 a barrel as Middle East attacks threatened supply through the Strait of Hormuz, a windfall and a cost for Nigeria.

OPay's US listing filing shows lending generated 50.6% of revenue in the first half of 2026, overtaking payments, as profit reached $90.9 million.

PenCom has automated penalties for employers that delay pension remittances, after cumulative recoveries from defaulters reached N36.6 billion.

Nigeria's upstream regulator has recovered about 50 dormant oil fields from non-performing operators as it enforces drill-or-drop rules to lift output.

NNPC Limited has cut petrol pump prices at its retail stations, joining a downstream price war that is easing costs for motorists but squeezing marketers.

Fitch Ratings has revised Nigeria's credit outlook to Positive from Stable, citing sustained reforms, disinflation and improved foreign reserves of $54.9 billion.

The National Sugar Development Council has unveiled a $7.1 billion, ten-year investment plan to lift annual sugar production above two million tonnes and cut reliance on imports.

Independent marketers are pressing for an extension of the 30-day petrol discount, warning of fresh price increases when the window lapses.

The IMF has warned that Nigeria's improving economic indicators are not reaching the poorest households, questioning whether the country's reforms are creating shared prosperity.

The development lender says its 2026 interventions combine credit, guarantees and investment to draw commercial funding into agriculture, finance and job creation.

The All-Share Index fell 0.97% in the week ended 9 October, while trading value increased despite a drop in share volume.

The reported figure covers procurement for a six-satellite programme; a contract for communications satellite NigComSat-2A has already been signed.

The latest decline puts OANDO on course for a fifth consecutive losing session , extending a run that has taken the stock from ₦36.15 at...

Up to $25 billion could become available for India's deep-tech sector, covering areas such as artificial intelligence, semiconductors...

Its battery-electric vehicle sales in China increased 36% in August, suggesting that parts of the transition are beginning to gain...

At the same time, liquidity in the banking system has increased sharply, with estimates pointing to a potential rise toward ₦8.57tn this...

TRANSCOHOT Breaks Into New High as 4% Open Surge Draws Heavy Volume TRANSCOHOT pushed into fresh territory at the NGX open on Tuesday...

A Sharp Move From a Large-Cap Stock GTCO's early decline stands out because the stock had recently moved higher from ₦130, reaching ₦137...

A Big Move From a Heavyweight A 4% move is significant when it comes from a stock of BUACEMENT's size. The Stock Has Room Below Its...

UPL and CMFC Lead the Price Movers University Press led the gainers with a 9.89% increase to ₦5, narrowly ahead of CMFC, which rose...

The Nigerian Upstream Petroleum Regulatory Commission has given affected operators until October 31, 2026, to disclose their ...

More Money Was Collected, But the Gap Remains The ₦205.53 billion collected in July represents a 7.12 per cent increase from ...

ECOWAS says the region has 28 shared river basins covering about 71% of its land area, with nearly every country sharing at ...

The central bank described the 350-basis-point change as an operational realignment, not a shift in the underlying monetary-policy stance.

The group paired a 16.2 percent profit increase with faster deposit growth and a lower cost-to-income ratio in its 2025 accounts.

Gross premium written rose 47.3 percent in 2025, while low retention in specialist risks showed why the industry's new capital rules matter.