1. Tinubu Approves Landmark Deep Offshore Framework to Unlock $50 Billion Investment

President Bola Tinubu has approved a new investment framework for deep offshore oil and gas projects aimed at attracting up to $50 billion in fresh capital and reviving developments that have remained stalled for years. The Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order 2026 introduces clearer rules for investors, beginning with the approximately $10 billion Bonga South West project.

The framework provides production tax credits and allows existing leases to reach final investment decisions by the end of 2029 to qualify for the full incentives. The Presidency said the policy is expected to increase oil production, create jobs and strengthen local participation in engineering, fabrication and other oilfield services, while NNPC Limited has been given authority to amend eligible production-sharing contracts.

2. Lagos Court Declares “Wanted” Notice Against Akanbi Unlawful

The Lagos High Court has declared a “wanted” notice issued against businessman Hammed Tajudeen Akanbi unlawful and ordered the Nigeria Police Force to retract it and issue a public apology. Justice Lawal Alebiosu, in a judgment delivered on August 7, ruled that the notice was issued without prior court approval and violated due process under the Administration of Criminal Justice framework.

The court also restrained the police from further portraying Akanbi as a criminal suspect in connection with the Ajiran killings. Separately, the police have invited social media activist Martins Vincent Otse, popularly known as VeryDarkMan, to answer allegations he made against AIG Moshood Jimoh over corruption and claims of framing Akanbi. Jimoh has also been invited as part of an internal administrative review, while the substantive murder case remains before the court.

3. NERC Dissolves Kaduna DisCo Board Over N456.5 Billion Debt

The Nigerian Electricity Regulatory Commission has dissolved the board of Kaduna Electricity Distribution Plc and appointed an interim board after the company accumulated about N456.5 billion in market obligations. NERC cited prolonged financial problems, poor remittances, high losses and the failure of core investor ASI Engineering Limited to reverse the company’s worsening debt position.

An administrator will remain in place for an initial six months while NERC begins the process of selecting a new core investor within 12 months. The regulator said the intervention is aimed at protecting electricity supply in Kaduna and other areas covered by the DisCo while restoring its financial and operational stability.

4. Osun Election Tensions Rise as Adeleke Alleges Plot to Arrest Accord Leaders

Osun State Governor Ademola Adeleke has raised concerns over an alleged plan by the police to arrest leaders of his Accord Party ahead of the August 15 governorship election. Adeleke also called for action against APC Senator Francis Fadahunsi over comments in a viral video that appeared to call for violence against opposition supporters, although the senator later clarified his remarks.

The election features Adeleke, APC candidate Bola Oyebamiji and ADC candidate Najeem Salaam among 14 contestants. INEC has said it is ready for the poll involving more than 2.3 million registered voters, while security agencies have been directed to step up operations amid reports of political and cult-related violence.

5. EU Confirms Electoral Expert Mission for Nigeria’s 2027 Elections

The European Union has confirmed plans to deploy an Electoral Expert Mission of two to four independent experts for Nigeria’s 2027 general elections. EU Ambassador Gautier Mignot said the delegation received INEC’s invitation in April and responded in July, dismissing reports that the bloc had rejected the invitation because of insecurity or previous disagreements.

The mission will assess Nigeria’s electoral process against democratic standards and make recommendations. The deployment comes as discussions continue over electoral reforms, following previous EU observation missions and concerns about the implementation of recommendations from the 2023 elections.

6. Colonel Ma’aji Gives Fresh Details on Alleged Coup Plot Against Tinubu

Fresh court documents and statements from Colonel Mohammed Ma’aji have provided further details about the alleged plot to overthrow President Bola Tinubu’s administration, which security agencies said was disrupted in 2025. Ma’aji said discussions began during the previous administration over concerns about insecurity, corruption, economic hardship, fuel subsidy removal, exchange-rate reforms and military welfare.

He maintained that the alleged effort was motivated by patriotism rather than personal ambition, although he acknowledged that a failed promotion contributed to the revival of the planning. Investigators have compiled financial records and communications linked to the case, while the Defence Headquarters has avoided detailed comments as the matter remains before the courts.

7. Nigeria Records 1,000 Confirmed Lassa Fever Cases and 237 Deaths

Nigeria has recorded 1,000 confirmed Lassa fever cases and 237 deaths across 23 states and 116 local government areas during the first 30 epidemiological weeks of 2026. The Nigeria Centre for Disease Control and Prevention put the case fatality rate at 23.7 per cent, with 53 healthcare workers among those infected.

Ondo, Bauchi, Taraba, Edo and Benue account for a large share of the reported cases. Although the number of new confirmed infections has declined in recent weeks, the NCDC has urged Nigerians to remain vigilant, control rodents, maintain good hygiene and seek medical attention early when symptoms appear.

8. Naira Weakens to N1,364.89 as Foreign Reserves Hold Above $52 Billion

The naira weakened against the US dollar on the official foreign exchange market on August 11, closing at about N1,364.89 compared with the previous session. Foreign exchange reserves stood at approximately $52.14 billion as of August 10, while activity in the parallel market showed a slight improvement.

The latest movement comes as the Central Bank of Nigeria continues to operate a flexible exchange-rate framework aimed at improving market liquidity and transparency. The exchange rate remains a major concern for businesses and households because of its effect on import costs, prices and the wider economy.

9. Sixteen BBNaija Season 11 Housemates Face Eviction in Week Three

Sixteen housemates in Big Brother Naija Season 11 have been placed on the eviction list for the third week of the reality show following decisions made during the latest Head of House challenge. Neche emerged as Head of House and used her veto power, while Chimsom Chuka secured Most Influential Player immunity for the second consecutive week.

Other immunity advantages have also reduced the number of housemates protected from eviction, leaving a large group dependent on viewers’ votes. The latest nominations have generated fresh reactions among fans as contestants continue to compete for the ₦160 million grand prize.

10. Nigeria Withdraws from Flag Football World Championships Over Visa Delays

Nigeria has withdrawn its men’s and women’s flag football teams from the International Federation of American Football World Championships in Germany after the athletes and officials were unable to secure visas in time. Both teams had qualified for the tournament after winning their respective African championships.

The withdrawal is a setback for Nigeria’s flag football programme, but the country still has a route to the 2028 Olympic Games through the 2027 continental championships. A top-two finish at that competition would secure qualification for the final Olympic qualifier, keeping Nigeria’s hopes of reaching the Games alive.