Naira Ranks Among Africa’s Strongest Currencies as World Bank Records Limited Q2 Decline

The naira has emerged among Africa’s more resilient currencies after weathering a period of significant pressure on the continent’s foreign exchange markets, with the World Bank recording a maximum depreciation of 2.6% between March and June 2026.

The finding is contained in the World Bank’s October 2026 Africa Economic Update, which examined currency movements across 22 African countries outside the CFA franc zone.

The period brought a combination of higher energy prices, geopolitical uncertainty, capital outflows and stronger demand for the US dollar. The escalation of conflict in the Middle East initially placed pressure on African currencies, although the impact varied considerably between economies.

Nigeria’s experience stood out. While the naira weakened to N1,425/$ on March 9, data from the Nigerian Foreign Exchange Market (NFEM) show that the currency began strengthening soon afterwards. It closed at N1,390.50/$ on March 10 and N1,387/$ by March 31.

The recovery gathered pace over the following months. The naira closed at N1,365/$ on August 3 and N1,360.15/$ on August 12. By August 24, it had reached N1,349.99/$ before ending the month at N1,335.50/$.

The currency closed at N1,329/$ on September 1 and reached N1,320/$ on September 7. It ended September at N1,329.50/$ and closed October 7 at N1,332.75/$.

The October 7 rate was N92.25 stronger than the March 9 level, representing an appreciation of approximately 6.5%. That longer-period comparison is separate from the World Bank’s March-to-June measurement, but illustrates the naira’s movement after its March low.

The bigger African picture was considerably more uneven.

Seven of the 22 currencies assessed by the World Bank recorded maximum depreciations of more than 5% during the period. Ghana’s cedi recorded the sharpest decline among the highlighted currencies, falling by as much as 10%.

South Africa, Lesotho, Namibia and Eswatini recorded maximum declines of up to 7.2%, while the currencies of the Democratic Republic of Congo and Uganda fell by 6% and 5%, respectively.

The World Bank linked the different outcomes partly to the structure of individual economies and their external positions.

Nigeria’s position as a major crude oil exporter provided some support as higher oil prices increased export earnings and foreign exchange inflows. Angola benefited from the same rise in crude prices, while South Africa gained from stronger demand for gold and platinum.

Energy-importing economies faced a different challenge. Rising oil and other energy prices increased import bills and demand for US dollars, while countries with limited foreign exchange buffers and high debt-service obligations faced additional strain.

Capital reallocation away from emerging and frontier markets also added to depreciation pressures as geopolitical uncertainty intensified. At the same time, higher fertilizer and other agricultural input costs contributed to imported inflation.

The World Bank further noted that depreciation can increase fiscal vulnerabilities in countries with significant dollar-denominated debt because the local-currency cost of servicing external obligations rises.

By August, the naira was among the currencies that had recovered from the pressure experienced earlier in the year. Only 10 of the 22 currencies monitored remained weaker than their end-February positions.

Ghana’s cedi remained 2.5% below its end-February level, Uganda’s currency was 3.1% weaker, while South Sudan recorded one of the largest remaining declines at 5.5%. Nigeria and Angola were among the economies where stronger crude oil receipts helped cushion exchange-rate pressures.

The currency performance also comes as the World Bank improves its outlook for Nigeria’s economy.

The bank has raised its 2026 growth forecast for Nigeria to 4.3%, compared with 4.0% in 2025, and projects growth of 4.4% in both 2027 and 2028.

The latest currency figures therefore place the naira in a notable position within the World Bank’s African assessment: it was exposed to the same global shocks affecting the continent, but its maximum second-quarter depreciation was limited to 2.6%, followed by a recovery that carried the currency substantially above its March weakness.

Lagos Airport Set for Rail Connection as Red Line Extension Plans Five Stops

Lagos’ international gateway is undergoing a major transformation, with plans to extend the Lagos Red Line into Murtala Muhammed International Airport and create about five stops within the airport complex.

The proposed stations will serve Terminal 1, Terminal 2, Hadron Cargo, airport offices and another location around Bisam, according to the Managing Director of the Federal Airports Authority of Nigeria, Olubunmi Onabanjo-Kuku.

The project is being initiated by the Federal Ministry of Aviation and Aerospace Development and will extend the Red Line from its current terminus around Ikeja into the airport, creating a direct rail connection between the aviation hub and the Lagos transport network.

The objective is to give passengers and airport users an alternative to road transportation when travelling between the airport and other parts of Lagos.

“The whole idea is to connect the city to the airport. So from the airport, you should be able to get into Marina almost immediately. You shouldn’t have to use cars,” Onabanjo-Kuku said.

The project is still in its preparatory phase as environmental impact assessments, design reviews and procurement procedures are being undertaken before construction can begin.

The proposed rail connection forms part of the transformation taking place at the airport, where Terminals 1 and 2 are undergoing extensive rehabilitation and expansion.

One of the major milestones is the overhead bridge connecting the two terminals. FAAN said the final concrete work has been completed, while the canopy and structural work are substantially finished and the rails have been installed.

The authority expects the bridge to be ready in earnest with the aim of opening it before the December travel rush.

“I’m extremely excited to see the level of progress. I’ve just engaged some of the consultants and the engineering team on the project, and I’ve been informed that in the next couple of months this will be ready for use,” Onabanjo-Kuku said.

Work is also progressing on Terminal 1, including its canopy structure and façade. The redevelopment covers baggage-handling systems, check-in technology, retail facilities and other systems designed to modernise passenger processing.

Accessibility is another component of the redevelopment. FAAN has provided two ambulifts, while a ground-handling company has supplied another for passengers who require mobility assistance.

The renovated facilities will also feature wheelchair-accessible ramps, elevators and improved passenger separation. Flight information systems are being developed to better accommodate travellers with hearing and visual impairments.

“We want to make sure that this is an inclusive project for all of our passengers,” Onabanjo-Kuku said.

When completed, the combination of terminal upgrades and the proposed Red Line extension will give Lagos airport a different transport and passenger environment. The rail project, in particular, could establish a direct public transport link between the airport and the city, reducing reliance on road journeys along one of Lagos’ most important travel corridors.

Fidson Takes Nigerian Pharmaceutical Manufacturing Into Global Influenza Supply Chain

A Nigerian pharmaceutical company is joining an international effort to expand access to influenza treatment, with Fidson Healthcare Plc selected to develop and manufacture a generic version of Roche’s antiviral drug, baloxavir marboxil, for supply across 129 countries.

Fidson is one of 11 manufacturers from nine countries selected under a voluntary licensing agreement between the Medicines Patent Pool (MPP) and Swiss pharmaceutical company Roche. Its selection places a Nigerian manufacturer among companies being positioned to produce an important influenza medicine closer to the populations that need it.

The programme covers nearly all low- and middle-income countries across Brazil, China, India, Indonesia, Malaysia, Nigeria, Uganda, Ukraine and Vietnam, subject to regulatory approval.

The development follows the Roche-MPP voluntary licence signed in May 2026 and moves the agreement into product development and manufacturing. Selected companies will work towards regulatory approval of quality-assured generic versions of baloxavir.

The manufacturers were announced during the United Nations General Assembly in New York at an MPP side event supported by Roche, titled “Advancing pandemic preparedness through voluntary licensing, technology transfer, and local production.” Government representatives, industry players, international organisations, manufacturers and civil society groups attended the event.

The manufacturing network combines companies with global reach and regional production capacity. Laurus Labs and MSN in India, and Desano and Guilin Pharma (Fosun) in China, are the four globally focused manufacturers, while seven regionally focused companies are based in Brazil, Indonesia, Malaysia, Nigeria, Uganda, Ukraine and Vietnam.

According to the MPP, the arrangement is intended to diversify influenza medicine supply chains and strengthen production capacity ahead of future health emergencies rather than waiting until an outbreak creates a crisis.

MPP Executive Director Charles Gore said the organisation would support the selected manufacturers through product development and regulatory approval, with the aim of making quality-assured generic baloxavir available as quickly as possible.

Roche Vice President and Head of Global Policy, Tamara Schudel, described the move from the original agreement to the selection of manufacturing partners as an important milestone, saying voluntary partnerships could support faster and more effective responses to future health emergencies.

The programme also has a strong African dimension. Aggrey Aluso, Director for Africa at Resilience Action Network International, said stronger regional manufacturing and diversified supply routes could prevent low- and middle-income countries from being left waiting for essential medical products during a crisis.

Fidson’s selection followed an open Expression of Interest process. Manufacturers were assessed on their technical and regulatory capabilities and their commitment to producing quality-assured baloxavir. They will receive technical data, reference products for bioequivalence studies and other support to aid development and regulatory approval.

Fidson Managing Director and Chief Executive Officer, Biola Adebayo, said the selection validates the company’s commitment to pharmaceutical manufacturing, innovation and improved healthcare outcomes.

“Being selected by the Medicines Patent Pool as a sublicensee under the Roche-MPP voluntary licensing programme for baloxavir marboxil is both an honour and a validation of Fidson’s longstanding commitment to quality-assured pharmaceutical manufacturing, innovation, and improving healthcare outcomes,” Adebayo said.

He added that Fidson was proud to contribute to regional health security and the growing role of African manufacturers in the global health ecosystem.

The next stage is development, regulatory approval and eventual production. If approved, Fidson’s generic baloxavir will form part of a supply network serving eligible markets across the 129 countries covered by the licence.

The development adds another significant chapter to Nigeria’s pharmaceutical manufacturing story, putting a homegrown company inside a global effort to make essential medicines more accessible and supply chains more resilient.

Lagos Life Crosses One Million Players as Nigerian Developer Turns Lagos Reality Into a Digital World

More than one million people have entered a digital Lagos created by Nigerian software developer Ijeoma Shalom Rayhamen, popularly known online as Shalom Rayhamen, turning her independent browser game, Lagos Life, into one of the most remarkable Nigerian digital entertainment stories of 2026.

Lagos Life crossed the one-million-player mark within days of its launch in early October, with more than 100,000 users reportedly online simultaneously at its peak.

The numbers, however, only tell part of the story. Rayhamen has taken familiar elements of Nigerian life and transformed them into the setting, mechanics and social fabric of a multiplayer game. Instead of creating a fictional city detached from everyday experience, she built around the Lagos that millions of people already know, its money culture, nightlife, food, music, work, social hierarchy, humour, pressures and ambitions.

Players create characters, find jobs, earn and spend money, manage their energy, buy food and work towards improving their circumstances. They can interact with other players and visit recognisable Lagos locations, including Amala Shitta and Quilox.

Even the game's economic system draws from realities familiar to Nigerians. Players are randomly assigned either “Nepo”, representing someone born into wealth and connections, or “Lapo”, representing someone beginning from a more difficult financial position and relying on micro-loans.

From there, players navigate a digital version of the choices and pressures associated with city life: earning money, managing limited resources, pursuing opportunities and attempting to improve their social position.

The game's day follows the real day, while Nigerian music plays in virtual clubs and references to money, work, status and everyday survival are woven into the experience.

The concept grew from Rayhamen's interest in simulation games. She played The Sims 3 while growing up and began imagining what a similar experience might look like if it were shaped around Nigerian culture. Another Nigerian-made browser game, Lagos Run, which allows players to drive a danfo through Lagos traffic, also influenced the project.

Rayhamen eventually took the idea beyond simulating one person's life. Lagos Life became a shared environment where players can see, communicate and compete with one another in real time.

Its browser-first design has helped remove another barrier to participation. Players do not need a console, a downloaded application or specialised gaming equipment. A phone or computer with internet access is enough.

That accessibility has coincided with extraordinary early demand. Lagos Life grew from more than 100,000 users to one million players within days, while millions of visits accumulated and peak simultaneous users rose above 100,000.

Nigeria's global creative presence has long been associated with music, film and fashion, while its technology story has been strongly linked to fintech, commerce and other digital services. Gaming and interactive entertainment offer another route through which Nigerian creators can develop original intellectual property from local experiences.

Lagos Life is an example of what that can look like.

Its appeal does not depend on making Lagos resemble somewhere else. The city itself provides the material. The places, language, humour, music, economic realities and social dynamics become part of the product.

That gives the game a cultural specificity that is difficult to reproduce without an intimate understanding of Nigerian life.

It also creates an interesting bridge beyond Nigeria. Nigerians living abroad can encounter references to familiar experiences, while people who have never visited the country can enter a digital interpretation of Lagos created by someone who understands it from within.

Lagos Life demonstrates that Nigerian experiences can be transformed into digital products capable of attracting mass participation. A local story can become a game. A city can become intellectual property. Everyday culture can become part of a commercially viable digital experience.

Rayhamen's work is still at an early stage, and sustaining the momentum will require continued investment in infrastructure, security, gameplay and community management.

The launch however has already established something important.

A Nigerian developer looked at the world around her, imagined how it could exist inside a game and built it for the web.

More than one million people have now walked into that idea.

Lagos Life has made Lagos more than a setting. It has made the city the story, the culture and the experience and shown just how far a Nigerian idea can travel when it is built for the digital world.

Dear Ajayi Carries Nigeria’s Film Story to the 2027 Oscars

A Nigerian family story set in the 1990s is now headed for one of the world’s biggest film stages, after Dear Ajayi was chosen as Nigeria’s official submission for the Best International Feature Film category at the 99th Academy Awards.

Directed, written and produced by Damilola Orimogunje, the film takes viewers into southwestern Nigeria, where the complicated relationship between two sisters becomes the centre of a story shaped by family, faith, grief and ambition.

Ade and Titi Ajayi have grown into women whose lives have taken different directions but when their ailing mother comes to live with them, the distance between the sisters is no longer something they can easily ignore. Old resentments return, and the choices that have shaped their individual lives come under scrutiny.

That intimate family conflict has now earned the film a place in Nigeria’s Oscar campaign.

The Nigerian Official Selection Committee, the body responsible for choosing the country’s entry for the Academy Awards, selected Dear Ajayi after reviewing eligible submissions. The announcement means the film will proceed to the Academy’s consideration stage, where it will compete for attention alongside submissions from film industries across the world.

NOSC Chairperson Stephanie Linus welcomed the selection and congratulated the filmmakers behind the production.

“We congratulate the filmmakers behind Dear Ajayi on their selection,” Linus said.

She added, “We look forward to presenting the film for the Academy’s consideration and wish the team every success in the next stage of the process.”

The film must first pass through the Academy’s consideration process before the final shortlist and nominees for Best International Feature Film are announced.

The 99th Academy Awards will therefore provide the next test for Dear Ajayi as the Academy weighs submissions from different countries and film industries.

For Nigerian cinema, the significance lies not only in the competition ahead but also in the story being taken to the international stage: a drama rooted in southwestern Nigeria, built around the emotional complexities of family and told through the lives of two sisters confronting the past while dealing with the realities of the present.

Etihad, Ibom Air Deal Expands International Air Links to Five Nigerian Cities

Five Nigerian cities are set to gain a stronger link to the international aviation network as Ibom Air enters an interline partnership with Etihad Airways ahead of the UAE carrier’s planned expansion into Lagos and Accra.

The agreement will bring Abuja, Uyo, Port Harcourt, Calabar and Enugu into Etihad’s booking network, allowing passengers travelling from the airline’s international destinations to reach the five cities through a single itinerary.

The arrangement will also create travel options between Accra and Abuja and between Accra and Uyo. Passengers will not need separate bookings for the connecting journeys, while their baggage can be checked through to the final destination.

The partnership comes as Etihad prepares to launch its new West African services in March 2027. The airline is scheduled to begin a daily service between Abu Dhabi and Lagos on March 23, followed by four weekly flights between Abu Dhabi and Accra from March 24.

The agreement extends the reach of a domestic network that has grown from its base in Uyo into a platform capable of supporting international passenger movements.

George Uriesi, managing director and chief executive officer of Ibom Air, described the agreement as a major milestones in the carrier’s development as a regional airline.

He said the partnership would make it possible for international passengers to access destinations served by Ibom Air through a single booking.

“Additionally, it positions Ibom Air as the key domestic and regional connection for Etihad Airways’ operations into Nigeria and Ghana from next year,” Uriesi said.

The deal also reflects Etihad’s strategy for expanding its African footprint through partnerships with airlines that already have established domestic networks.

Arik De, Etihad’s chief revenue and commercial officer, said Nigeria is central to the airline’s long-term strategy on the continent.

“Ibom Air has built a strong domestic network from its base in Uyo, and partnerships with airlines that know their own markets are how we grow on the continent,” De said.

According to De, putting the agreement in place before the Lagos and Accra services begin means Etihad will enter the region with onward connections already available to passengers.

The new arrangement gives Uyo and Calabar a place alongside Abuja, Port Harcourt and Enugu within Etihad’s single-ticket network. It also gives Ibom Air a larger role in linking Nigeria’s domestic aviation market with international traffic arriving through Lagos and, from next year, Accra.

Uriesi said the airline looks forward to welcoming Etihad passengers and delivering the service “that defines the Ibom Air experience”.

JAMB Takes UTME to Canada, Bringing Nigeria’s University Admission Closer to the Diaspora

For Nigerians living in Canada who look to Nigerian universities for their higher education, the distance between home and an important part of the admission process could soon become much smaller.

The Joint Admissions and Matriculation Board (JAMB) is planning to establish a Unified Tertiary Matriculation Examination (UTME) centre in Ottawa in 2027, creating an examination point in North America for eligible Nigerians seeking admission into Nigerian tertiary institutions.

The planned facility will be JAMB’s first UTME centre in Canada and is expected to serve candidates not only in Canada but also eligible Nigerians in other parts of North America. Its introduction means prospective students in the region would no longer have to travel to Nigeria solely to sit for the examination.

The announcement followed a visit by JAMB Registrar, Prof. Segun Aina, to the Nigerian High Commission in Ottawa. The examination board subsequently disclosed the development through its official social media platforms.

For Nigerians living abroad but maintaining educational and professional ties to the country, access to Nigeria’s tertiary education system can involve practical hurdles created simply by distance. JAMB says the Ottawa facility is intended to address part of that challenge by bringing the UTME closer to the communities it serves.

“The proposed centre will make it easier for Nigerians in the diaspora to sit for the UTME without travelling to Nigeria solely for the examination,” the board said.

JAMB also sees the initiative as part of a focused effort to extend the reach of Nigerian tertiary education internationally and strengthen the connection between Nigerians overseas and the country’s education system.

The planned centre could also provide a platform for greater awareness of Nigerian universities and other tertiary institutions among Nigerians living outside the country, reinforcing the possibility of pursuing higher education in Nigeria even while residing abroad.

Operations are expected to begin in 2027, with Ottawa serving as the base for eligible candidates across Canada and other parts of North America.

The development adds a new dimension to the relationship between Nigeria’s education system and its diaspora, making one of the country’s most important admission examinations accessible from considerably closer to where many prospective candidates now live.

JAMB summed up the change simply: “For Nigerians in Canada, the UTME is coming closer to home.”

Anambra Sets Sights on Modular Refinery and LPG Processing Plant

Anambra State is considering the establishment of a modular refinery that would pave the way for a Liquefied Petroleum Gas (LPG) processing plant as the government seeks to expand activity in the state’s petroleum and gas industry.

The Commissioner for Petroleum and Mineral Resources, Charles Ofoegbu, disclosed this on Friday in Awka while receiving members of the Anambra Chapter of the National Association of Liquefied Petroleum Gas Marketers (NALPGAM).

According to Ofoegbu, the proposed modular refinery would eventually lead to the establishment of an LPG processing plant. He said the administration of Governor Chukwuma Soludo was committed to sanitising the petroleum sector and creating conditions that would encourage investment.

The commissioner also invited Anambra residents and other investors interested in gas processing to consider opportunities in the state. He assured prospective investors that the government was prepared to support their plants with gas supply. 

The meeting also centred on LPG safety and the challenges confronting marketers and NALPGAM Anambra Chairman, Daniel Madueke, said the association was seeking Ofoegbu’s approval to organise a workshop on LPG safety and operations. 

The workshop, he said, would educate the public on the nature and composition of LPG, the different pressure levels at which it operates and measures for preventing domestic gas accidents.

The refinery and LPG project are still at the planning stage. If pursued, the proposal would give Anambra an opportunity to develop more activity around gas processing while providing investors with another area in which to establish businesses within the state’s petroleum sector.

Abia Students Win Nigeria’s Top Honour at International Debate Championship in Qatar

Five students from Abia State’s public schools have brought Nigeria the top team honour at the 2026 International Schools Debate Championship in Doha, Qatar, defeating competitors from several countries in a field of more than 84 groups.

Competing as Team Nigeria under the Presidential School Debate Nigeria platform, the students won the Best International School Debate Team award, the biggest prize of the championship. They also collected the Overall Best Team – Junior Category award, Best Leadership Award, Best Debater Award and 12 additional laurels for outstanding performances.

The Nigerian delegation comprised Simon Divine, Ifeanyichukwu Prisca, Akamnonu Franklin, Chikodi Maureen and Christian Chinweotitom Esther, all students from Abia public schools.

Their campaign took them through preliminary rounds against teams from the Philippines, Jordan, India and Qatar before they advanced to the finals. The championship brought together teams from eight countries, including Jordan, India, Qatar, the Philippines and Kenya.

The 2026 competition was coordinated by the Vocara Institute and hosted by the QatarDebate Centre at Georgetown University in Doha. Established in 2008 by the Qatar Foundation for Education, Science and Community Development, the QatarDebate Centre is Qatar’s national debating organisation.

The Abia delegation was led by the Executive Chairman of the Abia State Universal Basic Education Board, Amb. Lydia Onuoha, alongside representatives of the Presidency and Presidential School Debate Nigeria.

The result has been welcomed in Abia as evidence of the academic capacity developing within the state’s public-school system.

The Chief Press Secretary to Governor Alex Otti, Ukoha Ukoha, said the performance demonstrated the intellectual strength of Abia students and reflected what he described as the strength of the state’s new education model under Governor Alex Otti.

“This historic victory has once again demonstrated the strength of Abia’s new education model under Gov. Alex Otti and the intellectual capacity of students in Abia public schools. The Abia Debate Team has made Abia and Nigeria proud,” Ukoha said.

The Commissioner for Basic Education, Elder Goodluck Ubochi, said the achievement was consistent with the state’s efforts to transform its education sector.

“We feel elated now. What we are doing is that we are transforming the educational sector, and this outcome now is one of the expectations, and they are indicators that what we are doing is working,” he said.

Ubochi said the students would be hosted and celebrated when they return, alongside other Abia students who have distinguished themselves in competitions.

He disclosed that a student from the state had also won the national essay competition organised by the All Nigeria Confederation of Principals of Secondary Schools, ANCOPSS.

“We have a handful of them that we’re going to celebrate,” he said, adding that the state was waiting for the returning contingents before organising a celebration for students who have represented Abia successfully in different competitions.

The Doha performance adds an international distinction to the record of Abia’s public-school students and places their academic achievement alongside the growing number of Nigerian student accomplishments being recorded beyond the country’s borders.

Abia Positions Agriculture and Aba Manufacturing for a New Economic Push

Abia State is looking to turn more of its productive capacity into organised economic activity, with a proposed agricultural estate and renewed federal attention to Aba’s textile and garment industry emerging as two areas of potential expansion.

At the centre of the agricultural proposal is a planned Renewed Hope Mega Farm Estate, which the National Agricultural Land Development Authority (NALDA) wants to establish in the state. The agency has asked the Abia State Government to provide suitable land for the project, which is expected to bring farmers together while providing infrastructure, security, agricultural inputs and access to markets.

NALDA Executive Secretary and Chief Executive Officer, Cornelius Adebayo, made the request during a meeting with Governor Alex Otti at the Government House in Umuahia. Adebayo described the governor as a performer and reformer and said the proposed agricultural development fits into NALDA’s mandate of using agriculture as a vehicle for poverty alleviation.

The agency is also hoping that the Abia project can accommodate a processing facility, creating an opportunity to move agricultural activity beyond primary production and into value addition.

Governor Otti said the state was willing to collaborate with NALDA and other stakeholders to develop its agricultural potential. He described the proposed farm settlement as a practical means of increasing food production, generating employment and reducing Abia’s reliance on food imports.

Abia’s land area may be limited, Governor Otti noted, but the state still has fertile and arable land capable of supporting a range of crops, including cassava, yam, cocoyam, oil palm and cashew.

The governor pointed to the state’s own history for evidence of what organised production can achieve. He recalled the farm settlements established during the 1950s and 1960s, as well as the now-defunct Star Paper Mill, as examples of enterprises that demonstrated the potential for sustainable economic activity built around local resources.

For Governor Otti, increasing domestic production also has implications beyond agriculture. He said excessive dependence on imported food was putting additional pressure on the foreign exchange market and called for deliberate investment in local production to strengthen food security while reducing that pressure.

The state government has consequently moved to the implementation stage of the proposal. Governor Otti directed the Commissioners for Agriculture and Lands to identify suitable sites for the mega farm, including existing farm settlements. He also asked them to explore ways of strengthening the operations of NALDA’s office in Osisioma.

The agricultural proposal comes alongside a separate federal interest in one of Abia’s most recognisable centres of enterprise: Aba.

The Federal Government is examining measures to support businesses in the city’s textile and garment cluster, where infrastructure and access to finance have been identified as major constraints to business growth.

John Uwajimogu, Special Adviser to President Tinubu on Industry, Trade and Investment, disclosed the development after leading a federal delegation to meet with Governor Otti in Umuahia.

According to Uwajimogu, the delegation’s purpose was more than a single intervention. The federal team was in Abia to deepen engagement with the state government and identify areas where federal projects, investments and programmes could be directed to support economic development.

He specifically highlighted Aba’s industrial capacity, describing the textile and garment sector as one of the major strengths emerging from the state.

The Federal Government, he said, had been considering ways to help businesses operating within the sector overcome the constraints that frequently limit their operations, with infrastructure and finance emerging as two of the most significant challenges.

The federal delegation also indicated its interest in bringing more government projects and programmes to Abia as part of efforts to stimulate economic activity and create additional opportunities for businesses across the state.

The discussions therefore place two established parts of Abia’s economy, agriculture and manufacturing, within a larger conversation about production, investment and local enterprise.

A proposed mega farm could provide farmers with infrastructure, security, inputs, markets and eventually processing capacity, while targeted support for Aba’s textile and garment businesses could address the infrastructure and financing gaps confronting an already active industrial cluster.

For a state with a history of organised farming settlements, industrial production and a large network of entrepreneurs, the emerging focus is on converting that foundation into stronger production systems, ones capable of feeding local markets, supporting businesses, creating employment and keeping more economic value within the state.

How a Nigerian Startup Is Helping SMEs Break Free From Diesel

A Nigerian startup is turning sunlight into a business advantage for hundreds of small and medium-sized enterprises.

Earthbond, founded by Chidalu Onyenso in 2023, is helping businesses move away from costly diesel-powered generation by combining solar technology with financing, installation and maintenance. What began as an attempt to find a practical answer to one of the biggest costs facing Nigerian SMEs has grown into a company that has worked with more than 400 businesses and helped replace more than 300,000 litres of fossil fuel.

The company financed its first project in 2024. Two years later, Earthbond is financially self-sustaining, with 14 full-time employees and a network of 75 installers across the Lagos region.

One of its projects was a medical diagnostic laboratory in Lagos, where solar power cut monthly energy costs by as much as 40 percent. The savings did more than improve the laboratory’s finances as patients received test results without delays linked to power outages, while the business was able to use some of the money saved to hire more employees.

That project captures the idea behind Earthbond: giving businesses access to dependable and more affordable power can also create room for them to employ, invest and expand.

The idea grew from a question Onyenso had carried since childhood.

She grew up in the United States while her father ran health care businesses in both the US and Nigeria. Watching the businesses operate in two different markets made her wonder why expansion seemed easier in one than the other.

“I always wondered, ‘What makes it so easy for his businesses in the US to grow that doesn’t apply in Nigeria?’” she says.

Harvard Business School gave her an opportunity to investigate that question.

During a Rock Summer Fellowship between her MBA years, Onyenso travelled to Lagos and spoke with business owners about the costs affecting their companies. Diesel emerged as a major concern. At the time, the city’s power grid met less than 20 percent of energy demand, leaving many businesses dependent on generators.

The challenge was not simply the price of fuel. Many SMEs also struggled to obtain the financing needed to move to solar.

Onyenso found that solar providers had largely overlooked SMEs, while lenders had not fully embraced them as a viable market.

“No one wanted to fund SMEs as a charity case, and no one wanted to fund them as an economic contributor,” she says.

The market was beginning to change. Diesel costs were rising, solar panels were becoming less expensive, and Nigeria’s credit infrastructure had matured enough for lenders to better understand the creditworthiness of their customers.

Those changes created an opening for a business built around both energy and finance.

With support from a Navab Social Impact Fellowship from the Harvard Innovation Labs, Onyenso developed the idea that became Earthbond.

The company initially operated as a broker, connecting business owners with existing credit products and solar solutions. It soon took on a larger responsibility, helping businesses assess their energy requirements, secure financing, arrange installation and maintain their systems.

For Earthbond, the quality of the final installation matters as much as securing the loan. A business needs a solar system that can deliver the expected savings if it is going to repay its financing and gain from the investment.

The Lagos diagnostic laboratory offered a clear example of what that model could deliver. Lower energy costs strengthened the business, dependable power helped prevent delays in medical testing, and the resulting savings contributed to additional employment.

The company is now looking beyond individual installations. Onyenso describes Earthbond’s next stage as becoming “an ecosystem enabler”, with the aim of strengthening the solar energy sector and supporting the efforts of other players in the industry.

“We’re asking: How do we bolster everyone's efforts?” she says.

From an idea developed at Harvard to a company serving hundreds of Nigerian businesses, Earthbond is building around a straightforward proposition: when SMEs can spend less keeping their operations powered, they have more room to put their money and energy into the work that keeps their businesses moving.

Mary-Brenda Akoda Makes History With AI Innovation, Wins $100,000 Nigeria Science Prize

An artificial intelligence innovation developed to make magnetic resonance imaging faster and more accessible has earned Nigerian scientist and technology researcher Mary-Brenda Akoda the 2026 Nigeria Prize for Science and Innovation.

Akoda's GenScan AI (GenMRI/C-MORE) is an AI-powered MRI reconstruction technology designed to significantly reduce the time required to acquire medical images while maintaining or improving image quality. Its C-MORE algorithm uses a one-step consistency-model framework and has the potential to reduce MRI scan times by up to 90% without requiring new MRI hardware.

Faster examinations could enable existing MRI scanners to serve more patients, reduce waiting times and improve access to medical imaging, particularly in a resource-constrained healthcare system.

Akoda was declared the winner on Tuesday, September 8, 2026, at the 2026 Nigeria Prize for Science and Innovation press conference in Lagos. Her selection followed an independent evaluation of 237 entries, the highest number received since the prize began.

The Panel of Judges, chaired by Dr Omobola Johnson, unanimously recommended GenScan AI, with the decision subsequently endorsed by the NPSI Advisory Board. The innovation was selected from three shortlisted entries after being assessed for scientific innovation, technical soundness, developmental impact and commercial scalability potential.

The judges found that GenScan AI offered a strong combination of advanced artificial intelligence and practical healthcare application. Its potential to improve scanner utilisation, shorten patient waiting periods and expand access to MRI services was particularly relevant to healthcare systems operating with limited resources.

Professor Barth Nnaji, Chairman of the NPSI Advisory Board, said the unanimous decision reflected the quality of Akoda's work and its potential to address important healthcare challenges.

He said the assessment process was designed to go beyond scientific novelty by considering practical relevance, measurable impact and prospects for real-world application.

Akoda's achievement also marks two firsts in the history of the prize. She is the first millennial and the first woman to win the award as an individual recipient.

The 2026 competition produced a winner after the Nigeria Prize for Science and Innovation recorded a “no winner” verdict in 2025.

Dr Sophia Horsfall, General Manager, External Relations and Sustainable Development at NLNG, said the outcome demonstrated that the prize's standards remain uncompromising while reflecting the quality and potential of Nigerian science and innovation.

The competition retained the theme, “Innovations in Artificial Intelligence, ICT and Digital Technologies for Development”, and attracted the record 237 entries.

“If an entry is declared worthy of the Prize today, we can be confident that it has earned that distinction through a thorough and credible evaluation process,” Horsfall said.

She commended the NPSI Advisory Board and Panel of Judges for their professionalism, independence and integrity throughout the adjudication process.

Akoda's academic and professional background spans computer science and artificial intelligence. She is a First-Class graduate of Computer Science from Goldsmiths, University of London and holds a Master of Research with Distinction in Artificial Intelligence and Machine Learning from Imperial College London, where she was a Google DeepMind Scholar.

She has worked as a software engineer and AI research scientist at Microsoft, including with the Microsoft Mixed Reality and AI Research Lab in Cambridge.

The 2026 result is the 12th time a winning work has been recognised during the 22-year history of the prize, now rebranded as The Nigeria Prize for Science and Innovation.

Akoda will receive the US$100,000 prize at The Grand Award Night scheduled for October 9, 2026.

NLNG congratulated Akoda and all participants in the competition, noting that each submission contributes to strengthening Nigeria's scientific and innovation ecosystem. The company also acknowledged the Nigerian media for its continued role in amplifying scientific achievements and encouraging greater interest in solutions to national challenges.

The Nigeria Prize for Science and Innovation remains one of NLNG's flagship initiatives for promoting excellence in scientific research and innovation, with the ambition of supporting solutions capable of delivering meaningful and sustainable impact on society.

Nigerian Researcher Earns CAD $100,000 Award for Male Fertility Research

A Nigerian-trained pharmacist is investigating a question that conventional fertility testing does not always answer: whether sperm are not only present and properly formed, but functionally capable of fertilising an egg.

That research is now attracting international recognition.

Chika Onochie, a Nigerian pharmacist and doctoral researcher at McGill University in Canada, has received a research award valued at up to CAD $100,000 from Québec’s Fonds de recherche du Québec (FRQ) for his work on new ways of assessing male fertility.

Onochie’s doctoral research centres on molecular biomarkers that could reveal the functional capacity of sperm. The aim is to provide researchers and clinicians with information that may not be captured by routine semen analysis, which commonly examines factors such as sperm count and morphology.

The question emerged partly from Onochie’s experience in Nigeria.

He graduated from the University of Benin in 2021 with First-Class Honours, earning both Bachelor of Pharmacy and Doctor of Pharmacy degrees. After his studies, he worked as a clinical pharmacist before moving to Canada for doctoral training.

His academic and professional experience exposed him to differences in how infertility can be investigated among couples. While women may undergo extensive examinations when conception proves difficult, assessment of the man can sometimes end with a basic semen analysis.

“My training and practice as a pharmacist in Nigeria allowed me to see some of the inequalities surrounding reproductive healthcare firsthand,” Onochie said.

The experience prompted him to examine what conventional male fertility testing might leave unanswered.

“I came to understand that the problem was not simply that men were being overlooked, but that we still lack reliable biomarkers that can tell us whether sperm are functionally capable of fertilization,” he said.

Onochie joined McGill University in 2023 to pursue a PhD in Pharmacology. His work examines molecular changes in sperm and how those changes could help establish their fertilising potential.

“One of the problems we face is that routine semen analysis does not tell us everything about whether sperm are functionally capable of fertilization,” he said.

“My research aims to identify functional biomarkers that could provide a more complete assessment of male fertility, particularly in cases where conventional testing does not adequately explain why a couple is experiencing infertility.”

His research is being conducted under the supervision of Professor Cristian O’Flaherty, a reproductive health researcher whose laboratory studies the molecular mechanisms involved in sperm production, function and activation, as well as the development of diagnostic tools for male infertility.

The work has also produced a contribution to the scientific literature. In 2025, Onochie co-authored a peer-reviewed review examining redox-induced protein modifications in spermatozoa and how those molecular changes may influence sperm function and male infertility.

The latest recognition came through the FRQ Doctoral Research Scholarships programme following the Fall 2025 competition. An official award letter stated that Onochie’s application received a positive recommendation from the peer-review committee and was subsequently supported through the deliberations of the FRQ Board of Directors.

The CAD $100,000 award will support his doctoral research, although the funding remains conditional on the adoption by Québec’s National Assembly of the necessary budgetary appropriations under the Financial Administration Act (CQLR, c. A-6.001), as well as decisions by the FRQ Board of Directors relating to its strategic planning. The letter also states that the award may be modified at any time without prior notice.

Onochie sees the recognition as an acknowledgement of the education and scientific preparation that began in Nigeria.

“Receiving this award is particularly meaningful to me because much of the foundation for my career was built in Nigeria,” he said.

“To be recognised in a highly competitive process alongside other well-trained researchers is also a reflection of the quality of education and scientific training I received in Nigeria.”

“My training there gave me the foundation to compete internationally, and I am proud to carry that foundation forward in my research,” he added.

Onochie hopes the research will eventually contribute to improved tools for understanding male infertility and encourage a more balanced approach to reproductive healthcare.

“Infertility is a couple’s issue,” he said.

“Improving how we evaluate male fertility is important not only scientifically, but also for creating a more balanced approach to reproductive healthcare.”

From his pharmacy training at the University of Benin to molecular research at McGill, Onochie’s work is now focused on expanding what scientists can learn about male fertility beyond the measurements provided by conventional testing.

ProTaxi Puts 1,000 Electric Vehicles on Abuja’s Roads

Abuja has a new electric mobility service, with home-grown e-hailing company ProTaxi commencing operations in the capital and announcing plans to deploy 1,000 electric vehicles.

Developed by PromiseLand Innovation, the service was unveiled in Abuja on Thursday as the company began its programme to onboard 1,000 drivers and provide them with electric vehicles for commercial operations.

Amb. Emmanuel Lawrence Oloche, Chief Executive Officer of PromiseLand Innovation, said ProTaxi was created from the company’s ambition to use technology and innovation to help ordinary people build sustainable livelihoods.

He said circumstances should not determine a person’s future when people have access to the right tools, opportunities and environment.

Oloche said ProTaxi was designed to serve passengers while giving drivers a dependable means of earning an income.

“A completed trip can contribute towards a child’s school fees, a family’s rent or other basic needs,” he said, adding that creating opportunities for thousands of drivers could have an impact on the communities where they live.

“We believe that when we create opportunities for thousands of drivers, we are not watching families, but we are reshaping communities,” Oloche said.

The company also plans to develop ProTaxi into an African technology company capable of transforming everyday life and competing internationally.

“The future is not what you wait for. The future is what you work towards every day,” Oloche said.

The service will use electric vehicles to provide Nigerians with another option for moving around the city while reducing the cost pressures associated with conventional vehicle operations.

Oloche described ProTaxi as another fulfilled vision of PromiseLand Innovation, with plans to extend the service beyond Abuja.

Gift Emmanuel, Executive Director of PromiseLand Estate, said the project was established with the needs of ordinary people in mind.

She said ProTaxi had started in Abuja and would be extended to other states.

“The vision is to help the masses and at least, he’s here in Abuja now, and we are moving to other states to help other people too,” Emmanuel said.

The Abuja launch marks the beginning of ProTaxi’s 1,000-driver programme and the company’s planned expansion of electric mobility services across Nigeria.

Nigerian Tech Firm Launches AI Computing Platform to Power Africa’s Digital Future

A Nigerian technology company is expanding the continent’s access to one of the most important building blocks of the artificial intelligence economy: high-performance computing.

Udu Technologies has launched Africa GPU Hub (AGHCloud.ai), a GPU cloud platform designed to give developers, businesses and governments across Africa more affordable access to the computing power required to build, train and run AI systems.

The platform provides on-demand access to Graphics Processing Units (GPUs), specialised processors capable of handling the intensive workloads involved in training and operating AI models and other advanced computing applications.

At the centre of the offering is affordability. According to Alexander Tsado, Chief Executive Officer of Udu Technologies, users can access GPU computing through the platform for less than one dollar per hour, potentially lowering one of the major cost barriers facing organisations seeking to develop AI solutions.

AGHCloud.ai also removes part of the technical burden traditionally associated with establishing AI infrastructure. Tools including PyTorch, TensorFlow, vLLM and LoRA come pre-configured, allowing developers to begin developing, training and deploying AI applications without first purchasing and managing their own GPU infrastructure.

Tsado said the platform was created to address both the financial and technical obstacles that have limited access to high-performance computing in Africa. Instead of spending months building and managing dedicated infrastructure, users can access computing resources within hours.

The infrastructure behind the platform already stretches across several African markets. Udu Technologies has deployed NVIDIA H100 and Blackwell Pro 6000 GPU clusters in Kenya, Malawi, Rwanda, South Africa, Togo and Zambia, giving the initiative a physical presence across seven African countries. 

Although the company’s expansion is not being built around computing power alone. Tsado said Africa’s ability to benefit from AI will also depend on developing the people capable of turning computing capacity into practical solutions. Through a collaboration with Alliance4AI, Udu Technologies has supported AI education and skills development for professionals working in medicine, logistics and finance.

The initiative has so far served about 2,000 developers and supported more than 30 government AI use cases. Those applications span agriculture, customs, digital public infrastructure, mining and education, showing how AI computing is already being applied beyond the technology sector itself.

Bringing more computing capacity onto the continent could also address questions that extend beyond cost and performance. Oluwafunmilayo Olumoko, Head of Customer Success at the company, said infrastructure located within African markets can place computing resources closer to users and their data. She said this could support data residency and sovereign AI infrastructure requirements, particularly as discussions around data sovereignty become more prominent.

The company is also pointing to potential savings for organisations operating AI applications at scale. Its dedicated GPU virtual machines, paired with optimised open-source large language models, can deliver savings of up to 60 per cent in token costs, according to Olumoko.

AI development requires more than algorithms and applications; it requires the underlying computing infrastructure capable of powering them. By deploying that infrastructure across African markets while combining it with skills development and widely used AI tools, Udu Technologies is building another layer of the continent’s emerging digital capacity.

With a Nigerian company at the centre of the initiative, the development also adds to the growing evidence of African technology firms building infrastructure and services aimed at solving challenges within African markets rather than simply adapting systems created elsewhere.

29 Nigerian Universities Enter Times Higher Education’s 2027 Global Rankings

Nigeria’s presence in the global higher-education landscape has expanded, with 29 universities appearing in the 2027 Times Higher Education (THE) World University Rankings, up from 24 institutions in the previous edition.

Covenant University, the University of Ibadan (UI) and the University of Lagos (UNILAG) share the highest position among the Nigerian institutions, each placed within the 801–1000 band globally.

The latest ranking, published by Times Higher Education on Wednesday, covers 2,297 universities across 118 countries and territories. THE assessed the institutions using 17 performance indicators grouped into five broad areas: teaching, research environment, research quality, international outlook and industry.

Covenant University’s return to the top position among Nigerian universities marks a change from the 2026 edition released in October last year. UI had led the Nigerian table in that edition, with Covenant University in second place and UNILAG in third.

In the 2027 ranking, Ahmadu Bello University and Bayero University follow the three institutions in the 1001–1200 band, while Landmark University and the University of Ilorin are also placed within the same range.

The scores of the three leading Nigerian universities reveal different areas of strength. Their overall scores range from 36.4 to 40.1, but their performances across THE’s five assessment pillars vary considerably.

UI recorded 31.2 points in teaching, compared with 21.4 for Covenant University and 21.2 for UNILAG. In research environment, Covenant scored 32.5, while UI recorded 19.9 and UNILAG 20.8.

Research quality produced stronger figures for UI and UNILAG, which recorded 64.9 and 67.8 respectively. Covenant University scored 49.8 in the same category.

Covenant University, however, recorded the strongest figures among the three in the industry and international outlook categories, with scores of 61.0 and 48.6. UNILAG posted 31.3 and 45.6 respectively, while UI recorded 22.2 and 44.9.

The expansion of Nigeria’s representation also comes from five institutions appearing in the ranking for the first time in the latest edition: Osun State University, University of Maiduguri (UNIMAID), Olabisi Onabanjo University (OOU), Kwara State University and Michael Okpara University of Agriculture, Umudike.

The increase from 24 ranked Nigerian universities in 2026 to 29 in 2027 provides a picture of the country’s higher-education institutions within the global assessment.

At the top of the global table, the University of Oxford retained first place for an 11th consecutive year. In sub-Saharan Africa, the University of Cape Town remained the highest-ranked institution, climbing from joint 164th position in the previous edition to joint 147th.

The complete Nigerian representation in the 2027 Times Higher Education ranking is:

1. Covenant University — 801–1000
2. University of Ibadan — 801–1000
3. University of Lagos — 801–1000
4. Ahmadu Bello University — 1001–1200
5. Bayero University — 1001–1200
6. Landmark University — 1001–1200
7. University of Ilorin — 1001–1200
8. Babcock University — 1201–1400
9. Osun State University — 1201–1400
10. University of Nigeria, Nsukka — 1201–1400
11. Federal University of Technology, Minna — 1401–1600
12. Nnamdi Azikiwe University — 1401–1600
13. Obafemi Awolowo University — 1401–1600
14. University of Benin — 1401–1600
15. University of Jos — 1401–1600
16. University of Maiduguri — 1401–1600
17. Federal University of Technology, Akure — 1601–1800
18. Federal University of Technology, Owerri — 1801–2000
19. Ladoke Akintola University of Technology — 1801–2000
20. Lagos State University — 1801–2000
21. Olabisi Onabanjo University — 1801–2000
22. University of Calabar — 1801–2000
23. Delta State University, Abraka — 2001+
24. Ekiti State University — 2001+
25. Federal University of Agriculture, Abeokuta — 2001+
26. Federal University Oye-Ekiti — 2001+
27. Kwara State University — 2001+
28. Michael Okpara University of Agriculture, Umudike — 2001+
29. University of Port Harcourt — 2001+

The 2027 edition therefore places an expanded range of Nigerian universities within a global framework that measures not only classroom teaching, but also research capacity, research influence, international engagement and links with industry.

Dangote Projects Builds One of the World’s Largest Construction Equipment Fleets, Nears 7,000 Machines

Dangote Industries Limited has built a construction equipment fleet of nearly 7,000 machines, a scale its construction arm, Dangote Projects, says makes it the world's largest construction equipment holding.

The fleet grew out of the demands of building the Dangote Petroleum Refinery and the group's fertiliser projects, but its origins were rooted in a capacity gap within Nigeria's construction industry.

Edwin Devakumar, Group Vice President of Dangote Industries Limited, said the group approached leading Nigerian construction companies before the refinery project began, but they indicated they lacked the capacity to execute work of that scale. Bringing in foreign contractors would also have required shipping their equipment into Nigeria and removing it after completion.

Dangote instead built its own capacity, initially purchasing 2,563 pieces of equipment, including 320 cranes. That made the group the world's second-largest construction company by equipment holdings at the time. More than 4,000 additional machines have since been acquired, taking the fleet close to 7,000.

The refinery project required far more than machinery. More than 70% of the site was initially swamp, requiring swamp buggies to clear the terrain and offshore sand pumping to raise the land, while measures were taken to minimise disruption to local fishermen.

Dangote also had to create infrastructure that was unavailable at the required scale. The group developed its own concrete supply system, invested in a quarry with 10 million tonnes per annum capacity, secured mining and environmental approvals, and acquired 8,200 concrete pumps and 203 transit mixers.

It built its own port because existing facilities could not handle some of the refinery's heaviest equipment. The largest equipment brought to the project weighed about 3,000 tonnes, according to Devakumar.

The project also required accommodation for 50,000 people, while the workforce peaked at about 63,000. The facilities later helped Dangote isolate workers during the COVID-19 pandemic.

The industrial capacity developed in Lagos is now supporting Dangote's expansion across Africa. The group is scheduled to break ground on its planned Lamu refinery in Kenya on September 30, 2026.

The facility is expected to include a 1,000 MW power plant, twice the capacity planned for the Lagos facility, with half of the electricity expected to be supplied to the Kenyan government. Engineers India Limited has been appointed under a contract worth more than $450 million to provide project management consultancy and engineering, procurement and construction management services for the refinery and petrochemical complex.

In Lagos, Dangote plans to raise the refinery's crude-processing capacity from about 700,000 barrels per day to 1.4 million barrels per day, including a new 750,000-barrels-per-day crude distillation unit. The expansion is expected to be completed by 2028, while the refinery has separately indicated a target of reaching 1.4 million barrels per day by 2029.

Dangote Group reported about $17 billion in revenue in the first half of 2026 and is targeting $36 billion for the full year, compared with $18 billion in 2025.

The group plans to invest about $50 billion between 2026 and 2030, compared with $25 billion during the previous five-year period, under its Vision 2030 strategy to expand its industrial footprint across Africa and grow into a $100 billion company.

The nearly 7,000-machine fleet stands as one measure of how Dangote has built new industrial capacity around projects whose scale demanded infrastructure, equipment and capabilities beyond what was readily available.

NNPC Records N7.2tn Profit

Nigeria’s oil industry closed 2025 with a stronger financial showing from its national oil company, as the Nigerian National Petroleum Company Limited increased its profit after tax by 33 per cent to N7.2tn.

The result is a N1.8tn increase from the N5.4tn profit recorded in 2024, achieved despite lower international crude oil prices and a decline in product volumes during the year.

NNPC Limited also generated N34.5tn in revenue, while earnings per share stood at N35.9. Its financial contribution to government rose even more sharply, with taxes, royalties and other remittances increasing by 39 per cent to N22.3tn.

The figures were disclosed by NNPC Limited Group Chief Executive Officer, Bayo Ojulari, in Abuja on Tuesday during a presentation of the company’s audited 2025 financial results, operational achievements and strategic direction.

What makes the performance notable is the environment in which it was delivered. Falling crude prices put pressure on revenue, while changes in Nigeria’s domestic petroleum market following the removal of subsidy contributed to reduced product volumes.

Yet, the pressure on revenue did not translate into weaker profitability.

Ojulari said improvements in the way NNPC operated, combined with greater financial discipline across its businesses, helped the company expand its profit despite the challenging conditions.

The operational numbers also moved in a positive direction. Crude oil and condensate production peaked at 1.77 million barrels per day in 2025, marking the company’s highest level in five years. Gas supply reached 7.2 billion standard cubic feet per day, its strongest level in three years.

Higher profitability provides greater room for investment across its businesses, while the increase in government remittances strengthens its contribution to public finances. Improved oil and gas output also has implications for Nigeria’s energy security.

Ojulari said the gains reflected sustained attention to the company’s assets and infrastructure, alongside a focus on delivering measurable results.

The stronger performance also creates a higher benchmark for the national oil company. Management now faces the task of maintaining the gains and improving on them in subsequent financial years.

“As we deliver exceptional results, the following year we strive to even beat those records,” Ojulari said.

He acknowledged that achieving stronger results also raises expectations and requires NNPC to build the capacity necessary to sustain its performance.

“So having a good performance is not just easy. It means that the bar has been set one level higher. So we now need to focus on building the capacity to deliver,” he said.

The 2025 results show an NNPC that expanded profit and improved key production indicators while operating under revenue pressures. However, the company did not disclose a breakdown of the individual business segments responsible for the increase in profit.

The headline figures remain substantial: N7.2tn in profit after tax, N34.5tn in revenue, N22.3tn in taxes, royalties and other government remittances, crude oil and condensate production peaking at 1.77 million barrels per day, and Nigerian gas supply reaching 7.2 billion standard cubic feet per day.

Together, they mark a significant financial and operational year for Nigeria’s national oil company and establish a higher performance threshold for the years ahead.

Investors Commit N6.1tn as Demand for CBN Bills Surges

Investors placed bids worth N6.1tn for Central Bank of Nigeria open market operation bills last week, highlighting strong demand for naira-denominated fixed-income assets even as the country’s interest-rate environment begins to shift.

The scale of demand was particularly notable against the N1tn worth of OMO bills offered by the CBN across 68-day, 152-day and 180-day instruments. Subscriptions exceeded the amount on offer by more than six times, reflecting continued investor interest in securing prevailing yields before further adjustments filter through the financial markets.

The CBN ultimately allotted N2.3tn to successful bidders. The 68-day instrument received no allocation, while the 152-day and 180-day bills cleared at stop rates of 17.29 per cent and 16.99 per cent respectively.

The auction came only days after the apex bank reduced its benchmark interest rate by 350 basis points, taking it from 26.5 per cent to 23 per cent on September 22. The policy shift has already begun to influence financial-market pricing, with yields moving lower.

Against that backdrop, the heavy subscription for OMO bills suggests that investors are still seeking to secure relatively attractive returns available in the market before yields potentially move further down. Market participants said expectations of declining short-term rates are becoming an important factor in investment decisions as the impact of the monetary-policy adjustment spreads through the financial system.

The OMO transaction also served another important purpose: withdrawing liquidity from the banking system. Following the auction, money-market conditions became softer as the central bank absorbed funds through the sale of the securities.

That liquidity picture, however, is set to change again this week as about N2.43tn in OMO maturities is expected to return to the financial system, alongside another N164bn in bond coupon payments. The combined inflows could reshape short-term liquidity conditions and influence interest rates and trading activity across the fixed-income market.

The sharp decline in primary-market stop rates, coming alongside demand that substantially exceeded available supply, could create additional downward pressure on yields in the secondary market.

As the market adjusts to the new 23 per cent policy-rate environment, fixed-income securities are expected to continue undergoing repricing, with investors repositioning portfolios in response to changing returns.

The latest OMO auction therefore captures a financial market in transition: investors remain willing to commit substantial funds to government-backed naira instruments, while monetary conditions are moving toward a lower-rate environment that could reshape the returns available across the fixed-income space.

Danielle Adewusi: The Doctor Who Became Miss Universe Nigeria 2026

Danielle Adewusi has been crowned Miss Universe Nigeria 2026, emerging from a field of 20 contestants to take the national title at a grand finale in Lagos.

Representing Lagos State, Adewusi was crowned on Sunday at Balmoral Hall, Federal Palace Hotel, Victoria Island, following several weeks of competition featuring camp activities, advocacy projects, talent showcases and stage performances. President of the Silverbird Group and National Director of Miss Universe Nigeria, Guy Murray-Bruce, presented her with the crown at the conclusion of the ceremony.

According to Silverbird, Adewusi distinguished herself during the competition through her “confidence, intelligence, elegance and commitment to social impact,” ultimately securing the title after the final question-and-answer session.

She will represent Nigeria at the 75th Miss Universe Festival in San Juan, Puerto Rico, on November 24.

Adewusi brings a background that extends well beyond pageantry. She is a medical doctor who studied Medicine at King’s College London, earning an MBBS and a first-class BSc in Psychology. Her interest in women's healthcare deepened during an Obstetrics and Gynaecology rotation, where she became more aware of the barriers women face in accessing healthcare.

That experience contributed to the creation of Scrub The Stigma, the women’s health organisation she founded in Nigeria and the United Kingdom. Its programmes include Educate Lagos and Educate Edo, which provide young people with information about menstrual health and wellbeing.

Her interest in pageantry also has a strong family connection. Her mother, Tonia Okogbenin, won Miss Universe Nigeria in 1991, making Adewusi’s victory a continuation of a family pageant legacy 35 years later.

Despite growing up with that connection, Adewusi has said becoming a beauty queen was not initially her priority. Her focus was on education and medicine.

Her own pageant experience began before this year's victory. In 2023, she competed at Miss Universe Great Britain, finishing among the Top Five contestants. She had always wanted to compete at Miss Universe Nigeria but waited until she had reached important milestones in her medical career and advocacy work.

Adewusi has also gained international exposure through her work as a United Nations Women UK delegate to the Commission on the Status of Women, where she said she developed a good understanding of challenges affecting women across different countries.

Her professional and advocacy experiences have influenced the way she views pageantry. Rather than treating it as separate from medicine, she sees the platform as another means of advancing the causes that matter to her.

The other finalists at Miss Universe Nigeria 2026 included Anita Osikhena of Edo, who was named first runner-up; Myya Jones of Cross River, second runner-up; Oluwafunmibi Ajaja of Ekiti, third runner-up; and Melissa Toghanro of Delta, fourth runner-up.

With the national title secured, Adewusi now turns to the next chapter of her pageant journey as she steps onto the global stage in San Juan as Miss Universe Nigeria 2026 on November 24, bringing with her a story shaped by medicine, advocacy, public engagement and a family history in Nigerian pageantry.

Olugbile Holloway Named Among TIME100 Art’s Global Leaders

Olugbile Holloway, Director-General of Nigeria’s National Commission for Museums and Monuments (NCMM), has been named among the inaugural TIME100 Art, placing Nigeria’s long-running campaign for the recovery of its cultural heritage on one of the world’s most prominent international art platforms.

Holloway was selected in the Leaders category of TIME’s 2026 list, with his recognition linked to his work advocating for the repatriation of Nigerian cultural objects taken abroad, particularly artefacts connected to the historic Benin Kingdom.

The recognition comes at a crucial moment for Nigeria’s cultural heritage efforts, following a series of developments involving the return and transfer of Nigerian objects held by European institutions.

In February 2026, the Netherlands reached an agreement with Nigeria concerning the return of 119 Benin objects. The collection comprised 113 objects from the Dutch State Collection and six held by the Wereldmuseum Rotterdam. The agreement provided for their unconditional return, with the objects subsequently arriving in Nigeria in June.

Another important development came from the University of Cambridge, which announced in February 2026 that ownership of 116 objects in its collections would be transferred to Nigeria. The move followed a formal request submitted in January 2022 and marked a major step in addressing the status of Nigerian cultural materials held overseas. Some of the objects had previously been loaned to the university.

The developments have placed greater attention on the question of Nigerian artefacts in international collections. While some institutions have taken steps towards returning or transferring ownership of objects, others remain constrained by legal and institutional frameworks. The British Museum, for example, has continued to cite restrictions under UK law governing the disposal of objects from its collection.

Holloway’s role at the NCMM has placed him at the centre of Nigeria’s institutional efforts to strengthen its museums, safeguard cultural heritage and pursue the recovery of objects taken from the country. His work has increasingly connected domestic heritage management with international discussions about ownership, restitution and the future stewardship of African cultural collections.

His appointment as Director-General of the NCMM in March 2024 brought him into the leadership of an institution responsible for some of Nigeria’s most important museums, monuments and heritage collections. Since then, the question of how Nigerian heritage is preserved, presented and returned has remained an important part of the institution’s international engagement.

The TIME100 Art recognition therefore comes against the backdrop of tangible developments rather than a single cultural milestone. The return of the Dutch-held Benin objects and the Cambridge ownership transfer represent separate institutional actions, but both have contributed to renewed international attention around Nigeria’s cultural heritage.

TIME100 Art is TIME’s global recognition platform for influential figures shaping the art world. The 2026 edition brings together artists, collectors, curators, cultural leaders and other figures whose work is influencing the direction of the international art landscape.

Holloway is expected to join other honourees at the TIME100 Art celebration in New York on October 5, where this year’s recognised figures will be brought together.

The recognition places a prominent international spotlight on the people and institutions working to preserve the country’s cultural inheritance while strengthening its presence in global conversations about art, museums and heritage.

Dangote’s Lamu Refinery: A 700,000-Bpd Project Takes Shape In Kenya

Kenya will break ground on the proposed Lamu Refinery on September 30, 2026, bringing the Dangote Group’s planned East African refining project into its construction phase. The refinery is designed to process 700,000 barrels of crude oil per day.

Kenyan President William Ruto announced the date after visiting the Dangote Petroleum Refinery in Lagos, where he toured the Nigerian plant and received details of the company’s plans for Lamu.

The Kenyan project comes with a substantial power component. Its dedicated power plant is expected to generate about 1,000 megawatts (MW), while 500MW is expected to be available for sale to the Kenyan government. The arrangement is intended to supply the refinery and place excess electricity within Kenya’s power system.

Aliko Dangote, President and Chief Executive Officer of Dangote Group, told Ruto that the Lamu refinery will not be a replica of the Lagos facility. Some of the processing equipment planned for Kenya will be heavier than what is installed at the Nigerian refinery, and the Lamu plant will include a coker, a processing unit absent from the Lagos facility.

Dangote used the tour of the Nigerian refinery to give Ruto a sense of the scale of what is planned for Kenya.

“Here I will give you a sense of an idea of what we’re going to have in Kenya just that Kenya will be a little bit bigger than what you are going to see, Your Excellency, today,” he said.

The power plant will give the Lamu project a generation capacity twice that associated with the Nigerian refinery. Half of the projected output is intended for the Kenyan government, adding electricity supply to the range of infrastructure tied to the development.

Ruto said Kenya has already secured the land for the refinery. He added that the government is working on the other requirements needed to advance the project without administrative delays.

The Kenyan president also pointed to the skills and commercial activity that could arise around the refinery, citing engineering, chemical engineering, mechanical engineering, business and other fields as areas where the project could create opportunities.

For Dangote Group, Lamu extends its refining interests into East Africa while giving the company another large-scale project with characteristics distinct from its Nigerian operation. The inclusion of a coker, heavier processing equipment and a 1,000MW power plant gives the proposed Kenyan refinery a configuration of its own.

With the groundbreaking fixed for September 30, attention now shifts to the physical development of a refinery planned to combine large-scale crude processing with substantial power infrastructure on Kenyan soil.

Nigeria A Win Maiden NCF Quadrangular T20 Series

Nigeria A have won the maiden Nigeria Cricket Federation Quadrangular T20 Series after defeating Ghana by seven wickets at the Tafawa Balewa Square Oval on Sunday.

Ghana, batting first, were dismissed for 60 in 15.5 overs, with Jayant Gautam top-scoring with 21 runs from 24 balls. Nigeria A’s bowlers kept the Ghanaian batting line-up under sustained pressure, led by Kareem Gafar with three wickets and Sylvester Okpe with two.

Ndubududem David, Mustapha Yusuf and captain Taiwo Mohammed also took a wicket each as Nigeria A wrapped up the innings with 25 deliveries still remaining.

The response was swift. Bright Nyong struck an unbeaten 38 from just 17 balls, hitting four sixes and a four as Nigeria A raced to 61 for three in only eight overs to secure the championship.

The result completed a strong campaign for Nigeria A, who won five of their six matches. Their only defeat came against the senior national team, the Yellow Greens, on Friday. Earlier in the competition, Nigeria A had defeated the senior side by 19 runs on Tuesday.

The Yellow Greens finished their own campaign with a 71-run victory over Sierra Leone. They ended on nine points after the defeat to Nigeria A and a shared result with Sierra Leone following their opening match on Wednesday, which was abandoned because of rain.

The tournament brought together established national-team players and emerging prospects across the two Nigerian squads, providing head coach and high-performance manager Stephen Mangongo with an opportunity to assess the players ahead of Nigeria’s next major assignment.

Attention now turns to the T20 World Cup Africa Sub-Regional C Qualifier, scheduled to take place in Abuja from October 18 to 25.

For Nigeria A, the tournament provides another piece of silverware for the country’s cricket programme and a strong platform heading into the next phase of international competition.

Nigerian-Born Samson Dauda Finishes Second at Mr. Olympia 2026

From Lagos to the global stage of professional bodybuilding, Samson Dauda has added another major achievement to his international career, finishing second in the Men’s Open division at the 2026 Mr. Olympia in Las Vegas, United States.

Competing under the United Kingdom flag, the Nigerian-born bodybuilder finished behind American Nick Walker, who claimed his first Mr. Olympia championship. Walker collected the $600,000 first prize, while Dauda earned $200,000 for his runner-up finish. Derek Lunsford placed third, followed by Andrew Jacked in fourth and Tonio Burton in fifth.

The result comes after another strong year for Dauda, who won the Europa Pro on September 13 before returning to the Olympia stage. His second-place finish in Las Vegas improved on his fourth-place result from 2025, although it was not enough to reclaim the title he won in 2024.

Born in Lagos, Dauda moved to the United Kingdom as a teenager, where an introduction to bodybuilding through rugby eventually changed the direction of his sporting career. What began alongside his involvement in rugby developed into a serious pursuit, leading him to earn his IFBB Pro card in 2017.

He made his professional debut in 2018 and reached the Mr. Olympia stage for the first time in 2022, finishing sixth.

A year later, he climbed to third before completing his breakthrough in 2024 by winning the Men’s Open title and becoming Mr. Olympia champion.

The 2025 competition brought a different outcome. Dauda finished fourth as Derek Lunsford reclaimed the championship. Hadi Choopan was runner-up, while Andrew Jacked finished third.

His return to Las Vegas this year produced another podium finish, placing him among the leading competitors in the division once again.

Across his five Mr. Olympia appearances, Dauda's record now stands at sixth place in 2022, third in 2023, first in 2024, fourth in 2025 and second in 2026. He has therefore recorded one championship victory and three additional podium finishes at the competition.

The Lagos-born athlete has remained closely connected to his Nigerian roots despite competing internationally under the United Kingdom flag. His association with Nigeria is also reflected in the nickname by which he is widely known: the “Nigerian Lion.”

Dauda’s latest performance adds another international milestone to a career that began with an unexpected transition from rugby to bodybuilding. From his early years in Lagos and his move to Britain as a teenager to winning the world’s most prestigious bodybuilding title and returning to the podium two years later, his career continues to place a Nigerian-born athlete firmly in the global bodybuilding spotlight.