Nairametrics Live Updates

U.S. Mission Nigeria opens applications for chef, procurement roles and others The United States Mission Nigeria has opened applications for new job vacancies, including positions for a Vegetarian Chef, Procurement Agent, Surveillance Detection Coordinator and Emerging Voices Exchanges Coordinator. The announcement was made through its official channels, including its X account, with interested candidates directed to its Job Opportunities page and Electronic Recruitment Application (ERA) portal for details and application submissions. Read more https://nairametrics.com/2026/07/25/u-s-mission-nigeria-opens-applications-for-chef-procurement-roles-and-others/

Abuja Declaration: African countries adopt technology-neutral regulatory framework Member States of the African Telecommunications Union (ATU) have adopted the 2026 Abuja Declaration on Meaningful Connectivity for Africa, aimed at promoting technology-neutral regulation across the continent. The declaration was adopted at the 7th Ordinary Session of the ATU Conference of Plenipotentiaries (CPL-26), which concluded in Abuja on Friday and was attended by Nairametrics. Read more https://nairametrics.com/2026/07/25/abuja-declaration-african-countries-adopt-technology-neutral-regulatory-framework/

Israel announces funding for iFAIR 5 to empower Nigerian innovators Israel has announced secured funding for the fifth edition of the Innovation Fellowship for Aspiring Inventors and Researchers, with the programme set to launch in October to empower and support Nigerian innovators. Israeli Ambassador to Nigeria Michael Freeman made the announcement on Saturday in Abuja at the closing ceremony and innovation showcase of the fourth iFAIR cohort. The nine-month programme, jointly implemented by the Embassy of Israel in Nigeria, the Tertiary Education Trust Fund and Innov8 Hub, provides mentorship, technical support and investment opportunities to help Nigerian researchers and early-stage entrepreneurs turn innovative ideas into sustainable businesses. Read more https://nairametrics.com/2026/07/25/israel-announces-funding-for-ifair-5-to-empower-nigerian-innovators/

Lassa fever death toll rises to 229 as NCDC records fresh increase in cases The Nigeria Centre for Disease Control and Prevention (NCDC) has reported a renewed increase in confirmed Lassa fever infections after a brief decline, with cumulative cases rising to 963 and deaths reaching 229 in 2026. This is according to the agency’s latest Lassa Fever Situation Report released on Friday. Confirmed cases fell from 31 in epidemiological week 26 to 14 in week 27 before climbing to 25 in week 28, signalling continued transmission across affected states. Read more https://nairametrics.com/2026/07/25/lassa-fever-death-toll-rises-to-229-as-ncdc-records-fresh-increase-in-cases/

NAICOM pushes for transparent, competitive Lagos building insurance scheme The National Insurance Commission (NAICOM) has called for the implementation of a transparent, competitive and inclusive framework for the Lagos State Building Insurance Scheme, as part of efforts to strengthen risk management, consumer protection and insurance penetration in Nigeria. The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Olusegun Omosehin, made the call on Friday at the official launch of the scheme in Lagos. Read more https://nairametrics.com/2026/07/25/naicom-pushes-for-transparent-competitive-lagos-building-insurance-scheme/

LAMATA begins AfDB appraisal process for Lagos Green Line funding The Lagos Metropolitan Area Transport Authority (LAMATA) has commenced the African Development Bank (AfDB) appraisal process for the proposed financing of the Lagos Rail Mass Transit (LRMT) Green Line project. The process follows a high-level stakeholder engagement convened by LAMATA in collaboration with the Ministry of Finance Incorporated (MOFI) as part of the AfDB’s appraisal mission to assess the project’s readiness for financing, according to a statement issued by the authority on Friday. Read more https://nairametrics.com/2026/07/25/lamata-begins-afdb-appraisal-process-for-lagos-green-line-funding/

Tinubu calls on Nigerian doctors abroad, other medical professionals to return home President Bola Tinubu has called on Nigerian medical doctors and healthcare professionals in the diaspora to return home and contribute their expertise to the transformation of Nigeria’s healthcare sector. The President pledged sustained government investment in medical education, digital health infrastructure, and improved welfare conditions to make the return worthwhile. Read more https://nairametrics.com/2026/07/25/tinubu-calls-on-nigerian-doctors-abroad-other-medical-professionals-to-return-home/

NPF Microfinance Bank’s H1 2026 pre-tax profit rises 7.7% to N3.20 billion NPF Microfinance Bank Plc has reported a profit before tax of N3.20 billion for the six months ended June 30, 2026, representing an increase of 7.70% from N2.97 billion in the corresponding period of 2025. According to the unaudited financial statements filed with the NGX on July 24, 2026, NPF Microfinance Bank’s profit after tax rose by 5.68% to N2.04 billion in H1 2026, from N1.93 billion in H1 2025. Read more https://nairametrics.com/2026/07/25/npf-microfinance-banks-h1-2026-pre-tax-profit-rises-7-7-to-n3-20-billion/

Nigeria’s digital payment fraud losses plunge 50% to N25.8 billion, but AI threats intensify Nigeria’s reported digital payment fraud losses declined by more than 50% to N25.85 billion in 2025 from N52.26 billion in 2024, but fraud attacks are becoming more targeted, sophisticated and costly. This is according to a new industry report unveiled by compliance technology firm Adhere on Friday, July 24, 2026. The report, The Compliance Reckoning: Regulating Financial Services in the Age of AI, released in partnership with TechCabal at the Adhere Compliance Frontline Forum 2026 in Lagos, revealed that the decline in reported losses masks a more concerning trend, with fraud losses rising by about 350% since 2020 even as the number of reported cases fell by approximately 31%. Read more https://nairametrics.com/2026/07/25/nigerias-digital-payment-fraud-losses-plunge-50-to-n25-8-billion-but-ai-threats-intensify/

Taiwo Oyedele inaugurates committee to draft new VAT Modification Order within 6 weeks The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has inaugurated an Inter-Ministerial Committee to develop a new Value Added Tax (VAT) Modification Order 2026 to support the implementation of Nigeria’s recently enacted Tax Reform Acts. According to a statement from the Finance Ministry, the committee, inaugurated on Friday in Abuja, has been given six weeks to produce a modern VAT framework that aligns with the country’s new tax laws, which took effect on January 1, 2026. Read more https://nairametrics.com/2026/07/24/taiwo-oyedele-inaugurates-committee-to-draft-new-vat-modification-order-within-6-weeks/

Nigerian equities slip 0.19% as Presco, Banking heavyweights weigh on stocks The Nigerian equities market closed lower on Friday, July 24, 2026, reversing the previous session’s gains as profit-taking in Presco Plc, Banking and other large-cap stocks outweighed broad-based buying interest across the market. The benchmark NGX All-Share Index (ASI) declined 0.19% to close at 247,357.40 points, down from 247,831.40 points at Thursday’s close. Read more https://nairametrics.com/2026/07/24/nigerian-equities-slip-0-19-as-presco-banking-heavyweights-weigh-on-stocks/

Yinka Ogunbiyi: Meet 27 year old Nigerian-American engineer behind the world’s first braid-assist robot Yinka Ogunbiyi is a Nigerian-American entrepreneur, biomedical engineer and Harvard-trained innovator whose invention, HaloBraid, is poised to transform the global hair-braiding industry. She is the founder and CEO of Halo, a hair technology startup developing intelligent tools for textured hair care. The company’s flagship product, HaloBraid, is billed as the world’s first braid-assist robot designed to help professional stylists complete braids significantly faster while reducing the physical strain associated with long braiding sessions. Read more https://nairametrics.com/2026/07/24/yinka-ogunbiyi-meet-27-year-old-nigerian-american-engineer-behind-the-worlds-first-braid-assist-robot/

Cross River signs 25-year concession to redevelop Obudu Ranch Resort The Cross River State Government has signed a 25-year concession agreement with Living Curation Real Estate Limited to redevelop the Obudu Ranch Resort and other tourism assets through a public-private partnership. The agreement was signed in Calabar on Friday, according to the News Agency of Nigeria (NAN). According to the state government, the concession will support the comprehensive rehabilitation of Obudu Ranch Resort, Utanga Safari Lodge and the Bebi Airstrip to reposition them as world-class tourism destinations capable of attracting local and international visitors. Read more https://nairametrics.com/2026/07/24/cross-river-signs-25-year-concession-to-redevelop-obudu-ranch-resort/

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ICYMI. LUNCH STORIES CBN: Currency in circulation falls to N5.52 trillion in June 2026 https://nairametrics.com/2026/07/24/cbn-currency-in-circulation-falls-to-n5-52-trillion-in-june-2026/ Champion Breweries’ H1 2026 pre-tax profit falls 34.1% to N2.28 billion https://nairametrics.com/2026/07/24/champion-breweries-h1-2026-pre-tax-profit-falls-34-1-to-n2-28-billion/ Budget Office says N1.3 billion PEAC/PFIPC appropriation never reached cash release https://nairametrics.com/2026/07/24/budget-office-says-n1-3-billion-peac-pfipc-appropriation-never-reached-cash-release/ FMDQ: Outstanding corporate bonds hit N2.30 trillion in June 2026 https://nairametrics.com/2026/07/24/fmdq-outstanding-corporate-bonds-hit-n2-30-trillion-in-june-2026/

Range Rover dispute: Court clears Coscharis to appeal business premises closure judgment The Federal High Court in Abuja on Friday granted leave to Coscharis Motors Limited to appeal its judgment, which ordered the Federal Competition and Consumer Protection Commission (FCCPC) to “close its premises” pending compliance with its order regarding a defective Range Rover purchased in 2024. Justice Emeka Nwite cleared the company to appeal against a suit marked FHC/ABJ/2722/2025, filed by Florence Ozor against the FCCPC, holding that Coscharis has established sufficient “legal interest” to appeal. Read more https://nairametrics.com/2026/07/24/range-rover-dispute-court-clears-coscharis-to-appeal-business-premises-closure-judgment/

Saadia Zahidi: Meet Harvard Kennedy alumni named IATA’s first female Director General Saadia Zahidi is a global economist and policy expert who has spent more than two decades shaping international conversations on the future of work, economic growth and workforce transformation. On Thursday, she added another milestone to her career after being named the first woman to lead the International Air Transport Association (IATA) in the organization’s more than 80-year history. Read more https://nairametrics.com/2026/07/24/saadia-zahidi-meet-harvard-kennedy-alumni-named-iatas-first-female-director-general/

Elon Musk says AI could surpass all human intelligence within five years Elon Musk has predicted that artificial intelligence could exceed the sum of all human intelligence within approximately five years, describing the development as inevitable and saying he sees no meaningful way to stop it. Musk made the remarks in an interview with The Economist published on Thursday, offering one of his most direct public statements yet on the timeline for AI surpassing human capability across every domain. Read more https://nairametrics.com/2026/07/24/elon-musk-says-ai-could-surpass-all-human-intelligence-within-five-years/

JRB: 16 states adopt harmonised tax framework to curb multiple taxation The Joint Revenue Board (JRB) has said that 16 out of the 36 Nigerian states have now adopted a harmonised Taxes and Levies framework aimed at eliminating multiple taxation and creating a more predictable business environment. Executive Secretary of the Board, Olusegun Adesokan, disclosed this on Thursday during a stakeholder engagement organised by the Office of the Tax Ombud in Lagos, where policymakers, regulators, tax professionals and legal experts discussed strategies for strengthening taxpayer protection, improving voluntary compliance and enhancing trust in Nigeria’s tax system. Read more https://nairametrics.com/2026/07/24/jrb-16-states-adopt-harmonised-tax-framework-to-curb-multiple-taxation/

FG proposes developer licensing, escrow accounts for homebuyers The Federal Government has proposed mandatory licensing for property developers and regulated escrow accounts for homebuyers as part of plans to reform Nigeria’s housing sector and strengthen consumer protection. The Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma, announced the proposal while delivering a keynote address at the BusinessDay Abuja Real Estate Conference 2026 in Abuja on Thursday, according to a statement by the Ministry. Read more https://nairametrics.com/2026/07/24/fg-proposes-developer-licensing-escrow-accounts-for-homebuyers/