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Good Morning,
Nigeria's drive to expand affordable housing supply has received a potential boost following a proposal by China Hyway Group to develop 10,000 housing units within 30 months. The Federal Ministry of Housing and Urban Development has commenced a review of the proposal, which could bring significant private-sector investment into the housing sector and support efforts to address the country's housing deficit.
Chinese Firm Proposes 10,000 Homes in 30 Months as Housing Ministry Begins Review
Nigeria's Federal Ministry of Housing and Urban Development has begun reviewing a proposal from China Hyway Group Limited to develop 10,000 resettlement housing units across the country within 30 months, as the government explores new partnerships to accelerate affordable housing delivery and reduce the nation's housing deficit. The proposal, presented to the ministry on July 14, 2026, will undergo a technical assessment before any decision is taken on implementation.
Court Orders Final Forfeiture of 48 Properties Linked to Ex-AGF Malami
A Federal High Court in Abuja has ordered the final forfeiture of 48 properties linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, in a ruling that marks a significant development in the Economic and Financial Crimes Commission's (EFCC) asset recovery efforts. The judgment grants the anti-graft agency's application to permanently transfer the affected assets to the Federal Government after finding that the properties were liable to forfeiture under applicable laws.
₦600 Billion Treasury Bills Auction Signals Continued Liquidity Tightening
The Central Bank of Nigeria (CBN) is seeking to raise ₦600 billion through a Nigerian Treasury Bills (NTB) auction scheduled for Wednesday, July 15, 2026, as part of its third-quarter domestic borrowing programme. Conducted on behalf of the Debt Management Office (DMO), the auction forms part of the government's strategy to manage liquidity, finance budgetary needs and maintain stability in the financial system.
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Marketers Reject Dollar-Denominated Fuel Pricing, Warn of Forex Pressure
Independent petroleum marketers and energy stakeholders have opposed Dangote Petroleum Refinery's decision to price petroleum products in U.S. dollars for domestic buyers, warning that the move could intensify pressure on Nigeria's foreign exchange market, increase fuel distribution costs and create fresh challenges across the downstream petroleum sector. The concerns follow the refinery's introduction of a dollar-based pricing template for petrol, diesel and aviation fuel, citing rising costs of crude procurement and constraints in accessing crude under the government's naira-for-crude arrangement.
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Africa's Economic Growth Hinges on Value Addition to Raw Materials, RMRDC Says
Africa's long-term economic prosperity depends on moving beyond the export of raw materials to local processing, manufacturing and value addition, according to the Director-General of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Ike-Muonso. He made the remarks during a courtesy visit by the Managing Director of the News Agency of Nigeria (NAN) to the council's headquarters in Abuja, stressing that industrialisation remains essential to unlocking the continent's economic potential.
New Advisory Committee Set to Strengthen Nigeria’s Economic Reform Agenda
Nigeria has inaugurated a Ministerial Advisory Committee to provide expert guidance on the implementation of ongoing economic reforms, marking another step in the government's efforts to strengthen policy coordination and improve economic outcomes. The committee, inaugurated on July 14, 2026, is expected to support the Federal Ministry of Finance and the broader economic management team by providing independent advice on key policy issues. According to the Federal Government, the initiative aims to enhance decision-making, improve the effectiveness of reform programmes, and strengthen coordination across government institutions responsible for economic policy.
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