Late last year, a Klimt sold for the highest price ever paid for modern art at auction.

An outlier sure, but it wasn't a fluke. U.S. auction sales grew 23.1% in 2025. The $1-5mm segment even grew 40.8% YoY.

Meanwhile, Apollo’s chief economist Torsten Slok said to expect ‘zero in return in the S&P 500 over the coming decade.’

So, that's where it gets interesting.

Each environment is unique, but after dot-com, post war and contemporary art grew about 24% annually for a decade. After 2008, about 11% for 12 years.

It’s also had near-zero correlation with the S&P 500 since ‘95.*

Now, Masterworks lets you invest in shares of artworks featuring legends like Banksy, Basquiat, and Picasso.

Shares can sell quickly, but my subscribers can skip the waitlist:

Skip the waitlist

^{*Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.}

President Bola Ahmed Tinubu has announced that the Federal Government is executing infrastructure projects on an unprecedented scale, with more than 2,700 kilometres of highways and major roads currently under construction, reconstruction or rehabilitation across Nigeria. The President also highlighted progress in housing, energy and rail development, describing infrastructure investment as a central pillar of the administration’s economic transformation agenda.

Lagos State generated approximately ₦80 billion from building approval applications in 2025, according to the Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide. The figure highlights the scale of construction activity taking place across Nigeria’s commercial capital and reflects growing compliance with development regulations as authorities strengthen urban planning oversight.

The Federal Capital Territory Administration (FCTA) has issued a warning to hotels, event centres and other commercial property operators in Abuja against hosting illegal or unregistered organisations, stating that violations could result in severe sanctions, including the revocation of land titles. The directive forms part of a broader effort to strengthen security oversight, regulatory compliance and responsible property management within Nigeria’s capital city

President Bola Ahmed Tinubu has defended the Federal Government’s decision to remove fuel subsidies, stating that the policy shift prevented Nigeria from sliding into bankruptcy and created fiscal space for critical investments in infrastructure, social services and economic development. The President made the remarks while reflecting on the administration’s economic reforms, arguing that subsidy payments had become unsustainable and posed a significant threat to the country’s financial stability. According to Tinubu, the removal of fuel subsidies was a necessary step toward restoring fiscal discipline and strengthening Nigeria’s long-term economic outlook

Nigerian banks increased their lending to the Federal Government by ₦15.66 trillion over a 12-month period, highlighting a significant shift in credit allocation within the financial system. According to the latest money and credit statistics released by the Central Bank of Nigeria (CBN), credit to government rose from ₦23.93 trillion in April 2025 to ₦39.60 trillion in April 2026, representing a year-on-year increase of 65.44%.