1. Tinubu Approves Up to 80% Salary Increase for Armed Forces Personnel
President Bola Tinubu has approved a salary increase of between 30 and 80 per cent for about 250,000 personnel of the Nigerian Armed Forces, with the new pay structure taking effect from September 1, 2026. Junior personnel from private to staff sergeant will receive the highest increase of 80 per cent, while officers above the rank of colonel will receive a 30 per cent adjustment.
The Federal Government said the review recognises the sacrifices of troops battling terrorism, banditry and kidnapping across the country. Defence Minister General Christopher Musa (retd.) described the package as a major boost to the welfare and morale of military personnel as security operations continue nationwide.
2. Presidential Panel Sets September 3 Deadline for State Police Bill
The Presidential Working Group on the National Policing Bill has fixed September 3, 2026, to present the executive bill on state policing to President Bola Tinubu. The committee, chaired by Chief of Staff Femi Gbajabiamila, is developing the legal and operational framework for state police.
Officials said the proposed legislation will address recruitment, funding, command structure and cooperation between security agencies. Although both chambers of the National Assembly have passed constitutional proposals, approval by at least two-thirds of state Houses of Assembly is still required before state police can become operational.
3. Resident Doctors Suspend Planned Nationwide Strike
The Nigerian Association of Resident Doctors (NARD) has suspended its planned nationwide strike after reaching agreements with the Federal Government over outstanding welfare issues. The decision followed negotiations involving senior government officials at the Presidential Villa.
The agreements cover salary arrears, promotion benefits, professional allowances and implementation of the Collective Bargaining Agreement. NARD said it would closely monitor the government’s commitments while allowing healthcare services to continue uninterrupted.
4. Tinubu Commissions Africa’s First Barefoot Renewable Energy College
President Bola Tinubu, represented by Vice President Kashim Shettima, has inaugurated Africa’s first Barefoot Renewable Energy College in Osara, Kogi State. The institution is designed to train young Nigerians in solar energy installation, renewable technology and green energy solutions.
The facility also houses a Green Hydrogen Research and Demonstration Pilot Plant, smart classrooms and energy laboratories. The Federal Government said the project will help address Africa’s renewable energy skills gap while creating employment opportunities for young people.
5. Team Nigeria Finishes Seventh at Commonwealth Games with 24 Medals
Team Nigeria ended the 2026 Commonwealth Games in Glasgow with 24 medals comprising 10 gold, seven silver and seven bronze medals. The performance placed Nigeria seventh overall and the highest-ranked African nation at the competition.
Athletes including Samuel Ogazi, Ezekiel Nathaniel and Chukwuebuka Enekwechi delivered historic victories, while para-powerlifters also recorded impressive performances. President Tinubu congratulated the athletes and pledged greater investment in sports development.
6. Naira Records Fresh Gains at Official Foreign Exchange Market
The naira strengthened further against the United States dollar at the official foreign exchange market, closing at about ₦1,362.55 per dollar. The improvement comes as external reserves remain above $51 billion and dollar liquidity improves.
Analysts attributed the appreciation to Central Bank interventions, stronger oil inflows and increased foreign exchange supply. The development offers cautious optimism for businesses and investors monitoring Nigeria’s economic reforms.
7. Senate Gives CBN, NUPRC and NDDC Final 72-Hour Ultimatum
The Senate Committee on Public Accounts has issued a final 72-hour ultimatum to the Central Bank of Nigeria, the Nigerian Upstream Petroleum Regulatory Commission, the Niger Delta Development Commission and other agencies over unresolved audit queries.
Lawmakers warned that continued failure to appear before the committee could attract constitutional sanctions. The hearing is part of the National Assembly’s oversight of financial accountability in the oil and gas sector.
8. Atiku Rejects Presidency’s Claims on Economic Recovery
Former Vice President Atiku Abubakar has dismissed the Presidency’s claims that current economic reforms are improving living conditions, insisting that Nigerians continue to face severe hardship.
Government officials, including Vice President Kashim Shettima, defended the reforms, citing improvements in foreign reserves and investment opportunities. The exchange adds to the growing political debate ahead of the 2027 general election.
9. NEC Approves Refinancing of NNPC’s Project Gazelle
The National Economic Council has approved the refinancing of NNPC Limited’s Project Gazelle, valued between $3.3 billion and $4.5 billion. The initiative is expected to improve liquidity, reduce financing costs and strengthen Nigeria’s external reserves.
Officials said the refinancing forms part of broader efforts to improve the financial position of the national oil company while supporting macroeconomic stability.
10. Otedola Moves to Increase First HoldCo Stake Above 51%
Businessman Femi Otedola has disclosed plans to increase his ownership in First HoldCo to more than 51 per cent after investing about ₦600 billion in the financial institution.
The planned acquisition reflects growing confidence in Nigeria’s banking sector and comes amid ongoing recapitalisation reforms. Market analysts are awaiting regulatory filings and further disclosures on the proposed increase.
