TWN: Sunday, 23rd August 2026
Lagos, Nigeria
News Roundup
NGX Sheds N5 Trillion in Longest Losing Streak of 2026 — Pre-Election Anxiety Blamed
The Nigerian Exchange recorded its longest losing run of 2026 this week — eight consecutive sessions of losses, the longest losing run so far in 2026 — as pre-election anxiety and profit-taking wiped N5 trillion from the market since the August 10 record high of ₦160.42 trillion. The ASI fell 0.30% on Thursday, August 20 to close at 240,037.80 as Aradel (-5.40%), Oando (-3.68%), UBA (-2.17%), Access Holdings (-0.74%), Zenith Bank (-0.48%) and GTCO (-0.23%) dragged. By Friday, August 21, the market was attempting a slim recovery, with the ASI nudging up 0.05% to 240,169.69. The week closed lower as sell-offs in BUA Foods, Unilever and Dangote Sugar weighed heavily, with OMO and T-bill yields remaining elevated, pulling capital away from equities. Analysts maintain the medium-term outlook stays positive, with H1 2026 bank results expected to signal strong interim dividends. The NGX also postponed the rollout of its revised three-tier pricing methodology, originally scheduled for Monday August 17.
BoI's Maiden Development Bond Oversubscribed; 2027 Campaign Begins as Billboard Fees Spark Controversy; Kano Sets Hajj Fare at ₦7m
The Bank of Industry's maiden development bond was oversubscribed — a major confidence signal for Nigeria's development finance market and a testament to deepening investor appetite for impact-driven debt instruments. With presidential and National Assembly political campaigns officially commencing on August 19, there are fears that excessive billboard campaign fees across states will hamper the electoral process, with opposition members calling the arbitrary increases in campaign permit costs anti-democratic. In the north, the Kano State Pilgrims Welfare Board announced ₦7 million as the final Hajj fare for 2027 intending pilgrims. Agro-industrial zones are being championed as key to Nigeria's AfCFTA project by economists, urging the government to prioritise value-added agricultural processing in its trade strategy.
Adeleke Wins Osun Election — Tinubu Calls to Congratulate at 2AM; Osogbo Erupts in Jubilation
Governor Adeleke won the Osun governorship election on Saturday, August 15, with President Tinubu calling him at 2:00am to congratulate him — a remarkable gesture of goodwill from a political opponent. Governors, party chiefs, Atiku, Peter Obi, and other political leaders all congratulated Adeleke, while Osogbo erupted in jubilation following the result. The APC said it was studying the result and mulling heading to tribunal. Amnesty International said it would use the election's alleged irregularities to name and shame Nigeria across 150 countries globally. Across Nigeria, political analysis this week largely praised the conduct of security agencies, with stakeholders reaffirming support for Tinubu and Governor Oborevwori. The election outcome shifts the 2027 political calculus significantly.
Lagos to Expand Specialist Healthcare Capacity; Hamzat Declares Lagos 2027 Ambition; Otti Warns Against Divisive Politics
Lagos State government announced plans to expand specialist healthcare capacity at Ojo and Somolu hospitals — a significant investment in secondary healthcare infrastructure across the state's most densely populated corridors. In Lagos politics, Deputy Governor Hamzat outlined his governance plans for the 2027 Lagos governorship election, saying there is no agreement that he would spend only one term — signalling his ambition to build a long-term legacy. Abia State Governor Alex Otti warned Nigerians against divisive politics, emphasising the need for issue-based discourse ahead of 2027. Kwara APC elders also hailed the establishment of new military battalions in the state as a major security boost for the North Central region.
Benue Approves ₦294m for Malaria Prevention; Nigeria's Women's Beach Volleyball Team Qualifies for Olympics; Birth Registration Milestone
The Benue State government approved N294.53 million as counterpart funding for the 2026 Seasonal Malaria Chemoprevention Campaign, aimed at protecting children across the state from malaria — one of Nigeria's most persistent child killers. The initiative, backed by international health partners, is part of a broader push to reduce malaria mortality in high-burden states. Nigeria's digital health transformation continues to gather pace following last month's establishment of the National Health Technology and Data Analytics Office (NHTDAO) under Dr. Obi Adigwe, which is now beginning to set national standards for health data interoperability.
In a remarkable sporting health crossover, Nigeria's women's beach volleyball team qualified for the Olympic Games for the first time, defeating Morocco 2-0 in the 2026 CAVB Women's Beach Volleyball Championship final in Alexandria, Egypt — one of the most exciting breakthrough stories in Nigerian sport this year. 🏐🇳🇬
Iron & Aluminium Scavengers Destroy Infrastructure; Airtime Credit Changes Loom; Lagos Expands Healthcare — Infrastructure Under Siege
Iron and aluminium scavengers are increasingly operating under cover of darkness to destroy critical infrastructure across Nigeria — stripping power lines, railway tracks, and public facilities for scrap metal value, costing the economy billions of naira annually and threatening power supply and transportation networks. Security agencies have been urged to treat infrastructure vandalism as an economic terrorism threat. In telecoms infrastructure, regulatory changes to airtime credit services are expected to affect costs for millions of mobile users — a development analysts say could disproportionately affect low-income Nigerians who rely on airtime credit for communication. Lagos State is also expanding Ojo and Somolu hospital facilities, reflecting the government's drive to ease pressure on infrastructure in Africa's largest city.
🇨🇲 Cameroon Win WAFCON 2026 — Defeat Malawi 3-0 in Final; Nigeria's Super Falcons Reflect After Quarter-Final Exit
Cameroon's Indomitable Lionesses won the 2026 Women's Africa Cup of Nations (WAFCON) trophy, defeating Malawi 3-0 in the final in Rabat, Morocco — claiming their first-ever WAFCON title in a remarkable upset tournament. For Nigeria, the Super Falcons' quarter-final exit to Cameroon (0-1) remains a painful wound, with stakeholders expressing displeasure over Nigeria's first-ever WAFCON quarter-final elimination. Coach Justine Madugu's future is under scrutiny. Despite the pain, Nigeria's women's football community can still celebrate: the Flamingos (U-17) are headed to the FIFA Women's World Cup, and the Beach Volleyball team has just qualified for the Olympics. Nigerian women's sport is alive and growing. 🦅
Premier League 2026/27 Season Kicks Off; Tottenham Splash £200m+; Nigerian Football Brouhaha Continues
The Opta Supercomputer has released its predictions for the 2026/27 Premier League season as England's top flight prepares to kick off another thrilling campaign. Tottenham Hotspur splashed out over £200 million ($272 million) to overhaul a squad that narrowly avoided relegation to the Championship last season — one of the biggest spending sprees in recent Premier League history. Victor Osimhen's future also remains in the spotlight, with reports he is willing to take a major pay cut for an Atletico Madrid transfer. Amid all the ongoing brouhaha holding Nigerian football by the jugular, there are some cheering news — with analysts hopeful the NFF's governance reforms will begin bearing fruit ahead of 2030 World Cup qualification efforts.
⚽ JS Darinho Sports Academy — Excellence in Grassroots Football
As the Premier League season kicks off and Nigeria's sporting community reflects on a season of highs and lows, JS Darinho Sports Academy — founded by Dare Osunsanya — continues its vital mission in Ijebu-Ode. JSDSA develops young Nigerian footballers through the Ijebu Premier League, structured coaching, and character formation. The next generation of Nigerian football is being built today. Learn more about JSDSA →
Nigerian-American Poet Named US Youth Laureate; Davido Appeals to Trump on Nigeria's Behalf; Peller's Marriage Decision
Daniel Umemezie was officially installed as the 2026-2027 US National Youth Poet Laureate this week, the second Nigerian-American to hold the title — a source of immense pride for the Nigerian diaspora community. Afrobeats superstar Davido made a public appeal to US President Donald Trump to pay attention to concerns affecting Nigerians ahead of what analysts describe as a critical moment in US-Nigeria diplomatic relations. In social media news, Nigerian TikToker Peller addressed critics questioning his decision to marry, generating significant online discussion. In West Africa, armed men killed 15 police officers in southwest Niger near the border with Nigeria and Benin — a stark reminder of the regional security pressures spilling across borders.
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