Ogochukwu Onwaeze, THEWILL

The Rural Electrification Agency (REA) has called for stronger coordination among government agencies, state governments, development partners, private operators and other stakeholders to prevent duplication and accelerate electricity access across Nigeria.

The Federal Government has said Nigeria must progressively move away from an economy centred on crude oil exports and capture more value through domestic refining, petrochemicals and related industrial activities.

The Office of the Auditor-General for the Federation has flagged at least N3.62bn in financial irregularities at the National Power Training Institute of Nigeria (NAPTIN), Abuja, including unremitted tender fees, questionable contract payments and expenditure without adequate supporting documents.

OPay has won two major fintech categories at the 2026 Consumers Value Awards (CVA), emerging as the Most Trusted Brand (FinTech) and Most Consumer Friendly/Innovative FinTech Brand.

The Nigerian Exchange Limited (NGX) opened the week on a positive note on Monday, as market capitalisation rose by ₦344 billion from ₦163.655 trillion at the open to ₦163.999 trillion at the close.

The Central Bank of Nigeria’s decision to cut the Monetary Policy Rate (MPR) from 26.5 percent to 23 percent is one of the biggest monetary-policy shifts in recent years.

The Federal High Court in Abuja has ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue granting petroleum products import licences to Matrix Energy, A.A. Rano and AYM Shafa, provided the companies meet all statutory and regulatory conditions.

Brent crude futures rose $3.98, or 3.82 percent, to $108.30 a barrel by 0959 GMT, while US West Texas Intermediate (WTI) gained $3.52, or 3.81 percent, to $95.93 a barrel.

AXA Mansard Insurance Plc is seeking shareholders’ approval to raise up to N18.3bn through a rights issue as the insurer moves to strengthen its capital base.

The nine states, Abia, Akwa Ibom, Anambra, Bayelsa, Delta, Edo, Imo, Ondo and Rivers received a combined N1.51 trillion from the 13 percent derivation fund in 2025, up from N671.92 billion in 2024.