1. Senate Threatens Sanctions as CBN, NUPRC, NDDC Skip NEITI Audit Hearing
The Senate Public Accounts Committee has given the Central Bank of Nigeria (CBN), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Niger Delta Development Commission (NDDC) and other agencies 72 hours to appear before it over the 2021 to 2023 NEITI oil and gas audit reports. The committee described their absence from the scheduled hearing as a violation of the National Assembly’s oversight responsibilities and warned that constitutional sanctions could follow.
Lawmakers said the hearing was convened to examine oil revenue remittances, royalty payments and compliance with statutory obligations involving more than 60 agencies and oil companies. The committee has fixed Thursday, August 6, as the final opportunity for the affected agencies to appear, warning that failure to comply could trigger further legislative action.
2. Adeleke Warns Tinubu Against Election Violence in Osun
Osun State Governor Ademola Adeleke has called on President Bola Tinubu to prevent political violence ahead of the August 15 governorship election, warning that the state must not experience a repeat of the 1983 political crisis. Speaking during an Accord Party campaign rally, Adeleke insisted that Osun people deserve a peaceful, free and fair election.
The governor alleged that political killings were already raising concerns despite his party’s endorsement of Tinubu for the 2027 presidential election. With 14 political parties participating in the governorship poll, stakeholders have continued to urge security agencies to remain neutral and ensure credible elections across the state.
3. Wike Declares End to Political Rift with Governor Fubara
Minister of the Federal Capital Territory, Nyesom Wike, has announced the end of his prolonged political dispute with Rivers State Governor Siminalayi Fubara, urging their supporters to embrace peace. Wike said Rivers State suffered greatly from the crisis and stressed that both leaders have now resolved their differences.
The reconciliation follows months of political tension that disrupted governance and divided the state’s political structure. Both leaders are now expected to work together, with observers saying the development could significantly reshape Rivers politics ahead of the 2027 general election.
4. Makinde, Fayemi and Oyinlola Meet Obasanjo Over National Issues
Oyo State Governor Seyi Makinde, former Ekiti State Governor Kayode Fayemi and former Osun State Governor Olagunsoye Oyinlola have held a closed-door meeting with former President Olusegun Obasanjo in Abeokuta. The discussions reportedly focused on national issues and political developments ahead of the 2027 elections.
Although no official statement was issued after the meeting, the gathering has generated fresh speculation about possible political consultations and future alliances. Obasanjo continues to play an influential role in national affairs, making such meetings closely watched across the political landscape.
5. Dangote Refinery, Marketers Slash Petrol Prices
Dangote Petroleum Refinery has reduced its ex-depot petrol price, leading MRS and several independent marketers to lower pump prices in different parts of the country. The reduction has seen motorists in some locations pay up to ₦40 less per litre compared to previous rates.
The latest adjustment comes as competition increases in the downstream petroleum sector following subsidy removal. While many Nigerians have welcomed the lower prices, transport fares and food costs are yet to reflect the reductions, with analysts saying sustained supply will determine whether the relief continues.
6. Nigerian Stock Market Begins August with ₦289 Billion Gain
The Nigerian Exchange started the month of August on a positive note after investors gained about ₦289 billion in market value. The All-Share Index rose by 446.85 points, driven by gains in major stocks including MTN Nigeria, Vitafoam, NASCON and First Holdco.
Analysts attributed the rebound to renewed bargain hunting after recent market corrections. Despite the gains, investors remain cautious as broader economic conditions continue to influence trading decisions across the equities market.
7. Team Nigeria Finishes 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, finishing seventh overall and emerging as Africa’s highest-ranked nation at the competition.
Nigeria’s success was driven by impressive performances in athletics and para-powerlifting, with athletes including Samuel Ogazi, Ezekiel Nathaniel, Chukwuebuka Enekwechi and Goodness Nwachukwu delivering gold medals and record-breaking performances. The achievement has been celebrated as another milestone for Nigerian sports.
8. Security Forces Kill Bandit Kingpin, Dozens of Suspects in Katsina
Security operatives, working with community vigilantes, have neutralised notorious bandit leader Idi Abasu Aiki and more than 60 suspected bandits during an intelligence-led operation in Bakori Local Government Area of Katsina State. The operation also led to the recovery of weapons and other items linked to criminal activities.
Authorities described the operation as part of ongoing efforts to dismantle kidnapping and banditry networks operating across the North-West. Residents have welcomed the development while calling for sustained security operations to prevent criminal groups from regrouping.
9. FG Issues Fresh Guidelines on Contract Awards
The Federal Government has directed ministries, departments and agencies to stop awarding contracts or making financial commitments without proper approval and compliance with established financial procedures. The directive is aimed at improving fiscal discipline and ensuring that government spending aligns with approved budgets.
Officials warned that violations of the new guidelines could attract sanctions. The move forms part of ongoing reforms to strengthen transparency, accountability and prudent management of public funds across government institutions.
10. Cooking Gas Prices Drop as Supply Improves
The price of cooking gas has declined in several parts of Nigeria following improved product supply and lower depot prices. Consumers in Lagos, Enugu and other states are now buying liquefied petroleum gas for less than ₦1,400 per kilogramme in many outlets.
Marketers attributed the reduction to increased imports and better product availability after previous shortages. Industry operators, however, cautioned that stable domestic production and consistent supply would be necessary to sustain the current price relief.
