TWN NEWS – Weekly Roundup
Lagos, Nigeria
News Roundup
NGX Bounces Back Powerfully — ASI Surges 6.42% in One Week, YTD Gain Now 56.77%
After a bruising June correction, the Nigerian Exchange roared back this week with the All-Share Index gaining an impressive 6.42% to close Friday at 243,798.76 — pushing market capitalisation to ₦156.5 trillion (USD 114 billion). The NGX Premium Index led all sectors with a stunning 10.61% weekly gain and 73.33% year-to-date return. The Industrial Index added 10.46% for the week (88.73% YTD), while the Oil & Gas Index gained 8.85% (98.16% YTD) — now approaching a doubling of value in 2026 alone. Zenith Bank and GTCO probed new intraday highs as Q2 2026 earnings season approaches, with heavy institutional flows entering the banking sector. The recovery reflects renewed investor confidence following the Dangote Petroleum Refinery IPO excitement and Dangote Cement's approved secondary listing on the London Stock Exchange. Market breadth on Friday was positive: 34 stocks advanced versus 30 decliners.
Dangote Refinery Demand Booms as US-Iran Conflict De-escalates; APC Set to Confirm Shettima as 2027 Running Mate
The Dangote Petroleum Refinery this week saw a surge in demand for refined products driven by the de-escalation of the US-Iran conflict and the resulting global crude price dynamics. The boom is boosting Aliko Dangote's wealth and strengthening Nigeria's fuel supply chain independence. Meanwhile, in the biggest political development of the week, the APC is set to officially unveil Vice President Kashim Shettima as President Tinubu's running mate for the 2027 presidential election — ending months of internal speculation. VP Shettima this week also hosted a high-powered Jigawa State Investment Summit in Dutse, presenting Nigeria as open for business and citing bold structural and fiscal reforms as having set the country on a path of sustainable growth.
Peter Obi Fires at Tinubu: "He Is Tired — He Needs to Go Home and Rest" as 2027 Campaign Heats Up
NDC presidential candidate Peter Obi this week launched his most pointed attack yet on President Bola Tinubu, declaring in an interview with media personality Chude Jideonwo that the President is tired and should go home and rest after 2027. Obi alleged that the number of Nigerians in poverty has risen from 87 million when Tinubu took office to 140 million today, and that insecurity has worsened. The Presidency fired back, rejecting what it called "lies," and citing market capitalisation growth from ₦30 trillion to ₦160 trillion, infrastructure projects, and health sector improvements as evidence of progress. The 2027 race is well and truly under way, with the APC's City Boy Movement also declaring it will deliver maximum electoral victory for the President.
Tinubu Probes Google, Meta, X — FG Airlifts 39 Nigerians From South Africa Amid Xenophobic Attacks
President Tinubu directed the Federal Competition and Consumer Protection Commission to investigate global tech giants Google, Meta, and X over alleged anti-competitive practices and data privacy concerns affecting Nigerian consumers — a landmark regulatory move. In a separate but equally significant development, the Federal Government airlifted 39 more Nigerians from South Africa on an emergency Air Peace flight following ongoing xenophobic attacks targeting Nigerians and other African nationals in South Africa. The Army this week also graduated 2,989 additional recruits to boost counter-terrorism capacity, while Nigerian troops of Operation HADIN KAI successfully foiled multiple ISWAP attack attempts on Borno suburbs.
Edo LG Election Held; DJ Chicken Sent to Kirikiri; Oyo Abductees Still in Captivity After 50+ Days
Edo State held its Local Government election this weekend following a movement restriction order from Friday midnight to Saturday 3pm for peaceful conduct of the polls. In Lagos, a court remanded popular social media personality DJ Chicken in Kirikiri over an alleged death threat against Seyi Tinubu, son of the President. On a deeply troubling note, the schoolchildren abducted from Oyo State's Oriire Local Government Area remain in captivity more than 50 days after their abduction, with intelligence suggesting they may still be held inside the Old Oyo National Park. Presidential aide Daniel Bwala questioned why suspected locations have not been targeted, as families await news of their loved ones. Separately, Nigerian Law School best graduating student for 2026, Israel Adeniyi, was celebrated nationally this week.
Zamfara Grants Six-Month Maternity Leave; FG Begins PHC Rehabilitation Rollout; Adire Industry Tipped as $1bn Opportunity
In a progressive move welcomed by healthcare advocates, Zamfara State approved a six-month maternity leave policy for female civil servants to promote exclusive breastfeeding and improve maternal and child health outcomes — one of the longest maternity leave provisions in the country. The Federal Government this week also began rolling out a new phase of its Primary Healthcare Centre rehabilitation programme to boost community-level care delivery, building on the 3,158 PHCs already completed under the Nigeria Health Sector Renewal Investment Initiative.
A financial expert this week projected that the Adire textile industry — Nigeria's traditional indigo-dyed fabric sector — could become a $1 billion global business with the right government support and international marketing, calling on the Federal Government to strategically invest in the sector. First Lady Remi Tinubu also this week commissioned two new digital health facilities in Jigawa State — a primary healthcare centre and a digital training hub built by FutureMap Foundation and eHealth Africa in Hadejia — as part of the Renewed Hope digital health agenda. The facility, named the Senator Oluremi Tinubu Clinic, is designed to serve as both a primary healthcare provider and a practical digital training ground. TWN News also notes that this week marked a strong follow-up to last week's landmark establishment of the National Health Technology and Data Analytics Office (NHTDAO) under Dr. Obi Adigwe, as more digital health investments take shape across the country.
⚽ World Cup Reaches Semifinal Stage — Africa's Last Flag-Bearers Exit with Heads Held High
The 2026 World Cup entered its quarterfinal stage this week — and the last two African teams gave magnificent accounts of themselves before bowing out. France and Spain are through to the semifinals; the big picture from Africa is one of immense pride.
🇲🇦 MOROCCO — Quarterfinal Exit, but What a Journey!
🇪🇬 EGYPT — Incredible Run, Heartbreaking Exit
Round of 16 full Africa summary: Morocco beat Canada 3-0 · Egypt lost 2-3 to Argentina (led 2-0!)
TWN News says: Africa's 10-team World Cup adventure is over, but the legacy is enormous. Morocco in the last 8. Egypt leading world champions Argentina 2-0. Ghana holding England. Cabo Verde taking Argentina to extra time. Senegal, South Africa, DR Congo — all represented their continent brilliantly. African football has arrived. 🌍🏆
D'Tigers Beat Rwanda 106-62 in FIBA World Cup Qualifier — Nigeria Basketball Surges
Nigeria's men's national basketball team D'Tigers produced a dominant 106-62 victory over Rwanda in a FIBA Basketball World Cup qualifier this week, sending a statement of intent as they push for qualification to the 2027 World Cup. The performance highlighted Nigeria's depth in basketball talent, with several NBA-linked players featuring in the squad. Separately, Nigeria is intensifying preparations for the 2026 Commonwealth Games, with the 3x3 Basketball team camping in Amsterdam ahead of the event. President Tinubu has personally charged Team Nigeria to represent the country with honour and excellence at the Commonwealth Games.
World Cup Semifinal Preview: France vs Spain — England vs Norway/Argentina as the Dream Stage Is Set
The 2026 World Cup has reached a thrilling semifinal stage. France (who beat Morocco 2-0) face Spain (who edged Belgium 2-1 with Mikel Merino the hero once more) in what promises to be a classic. England — who dramatically beat Mexico 3-2 in the Round of 16 — now face the winner of Norway versus Argentina, with Erling Haaland and Lionel Messi potentially set to go head-to-head. Norway sensationally knocked out five-time champions Brazil 2-1 in the Round of 16, with Haaland the key figure. With Africa now on the sidelines, TWN News will be watching with the whole continent — and hoping for more beautiful football on the grandest stage! Ronaldo's World Cup era also officially ended this week as Spain beat Portugal 1-0.
⚽ JS Darinho Sports Academy — Ijebu Premier League & Beyond
As the World Cup reaches its semifinal stage, JS Darinho Sports Academy continues its vital grassroots mission right here in Nigeria. Founded by Dare Osunsanya, JSDSA is building the next generation of Nigerian champions through the Ijebu Premier League and structured coaching programs. The next Osimhen, the next Lookman, may be on one of JSDSA's pitches right now. Learn more about their programs →
Blind UNILAG Freshman Beats Brain Tumour to Top JAMB — Nigeria's Youngest Chartered Accountant Celebrates
Two extraordinary stories of Nigerian academic achievement dominated headlines this week. A blind UNILAG freshman who beat a brain tumour topped JAMB results — a story of incredible resilience and determination that captured the nation's heart and went viral. Separately, Nigeria's youngest chartered accountant this week shared the inspiring story of beginning his ICAN journey at just 13 years old, completing the professional qualification at a record age. Both stories were celebrated nationally as symbols of what Nigerian young people are capable of achieving. Also in education, Nigeria has opened registration for the 2027 International STEM Olympiad from August 15, 2026.
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