Business

Inflation is slowing, external reserves have climbed, and several major companies are reporting stronger profits. At the same time, borrowing remains expensive, food prices are still putting pressure on household budgets, and investors can now earn relatively high returns from fixed-income instruments.

The funds were raised through eight Federal Government of Nigeria bond auctions conducted by the Debt Management Office during the period, as investors continued to show strong appetite for government securities despite the government’s cautious approach to borrowing costs.

The initiative is designed to address one of Nigeria’s long-standing infrastructure gaps: the difficulty of accurately identifying and locating people, businesses and properties, particularly in areas where formal street addresses are limited or unreliable.

The latest balance represents a 15.6 percent increase from the $45.57 billion recorded on January 2, strengthening Nigeria’s external liquidity position and providing the Central Bank of Nigeria (CBN) with a larger buffer to manage foreign exchange pressures and meet international obligations.

Latest data on Nigeria’s midstream and downstream petroleum operations showed that domestic Premium Motor Spirit (PMS) supply declined by 21 percent in July, while petrol imports increased by 9 percent. Total daily petrol receipts also fell 10 percent, from 50.6 million litres in June to 45.5 million litres in July.

The All-Share Index (ASI) fell by 265.99 points from its opening level of 239,351.16 to close at 239,085.17. Similarly, market capitalisation declined by N137 billion, from N154.533 trillion at the opening to N154.396 trillion at the close.

The agreements comprise an addendum to the OML 118 Production Sharing Contract (PSC) and an addendum to the Dispute Settlement Agreement (DSA), executed by NNPC, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Esso Exploration and Production Nigeria (Deepwater) Limited and Nigerian Agip Exploration Limited (NAE).

MTN Group has secured conditional approval from the Federal Competition and Consumer Protection Commission (FCCPC) for its proposed $6.2bn acquisition of IHS Holding Limited, moving the deal closer to completion. MTN disclosed the development in its half-year 2026 financial results released on Monday, saying the transaction remained a strategic priority for the second half of the year.

The National Institute of Credit Administration (NICA) has urged the Federal Government to inject ₦2 trillion into the National Credit Guarantee Company (NCGC) to expand access to credit for businesses and productive sectors of the economy.

Nigeria's financial markets head into the final week of August with investors weighing a potentially transformative refinery IPO, a relatively stable naira, high oil prices and the government's claim that its economic reforms have restored investor confidence.