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News Nigeria

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Economics: Disinflation Cycle Begins as 2026 Growth Targets 4%

Economists, including Afreximbank’s Dr. Yemi Kale, confirmed at the FirstBank Economic Outlook yesterday that Nigeria has officially entered a disinflation cycle. While structural weaknesses like high logistics costs remain, inflation is projected to drop below 15% this year. The government is targeting a GDP growth of 4.49% for 2026, betting on the "Great Calibration" of fiscal reforms to finally stabilize the Naira.

Osimhen and Lookman Power Super Eagles to AFCON Quarter-Finals

In a display of sheer dominance at the 2025/2026 AFCON in Morocco, Nigeria routed Mozambique 4-0 on Monday to secure a spot in the quarter-finals. Victor Osimhen netted a brace, while Ademola Lookman provided a goal and an assist, silencing rumors of a rift between the two stars. The Super Eagles are now the tournament favorites and will face either Algeria or DR Congo in the next round.

$2 Billion "Project " Fibre Rollout to Kick Off

The Federal Government is set to begin the first phase of Project BRIDGE in Q1 2026, an ambitious plan to deploy 90,000 kilometers of fibre-optic cable. Supported by a $500 million World Bank loan, the initiative aims to increase Nigeria’s broadband penetration from 50% to 70% by 2030. Industry leaders are urging the government to treat this as "critical national infrastructure" to prevent the vandalism that caused 40,000 disruptions last year.

Army Opens 2026 Recruitment for DSSC Officers

The Nigerian Army officially opened applications today for the Direct Short Service Commission (DSSC) Course 29/2026. Qualified civilians and serving personnel with professional backgrounds in engineering, medicine, and education are invited to apply. The portal will remain open until February 4, 2026, as part of a broader strategy to modernize the officer corps to better handle unconventional security threats.

Tinubu Seeks Senate Approval for New Oil & Gas Boards

President Bola Tinubu has submitted a formal request to the Senate for the confirmation of several new regulatory boards in the oil and gas sector. This move is designed to finalize the "fiscal reset" of the industry and resolve ongoing disputes over oil field ownership. The administration hopes these new boards will unlock stalled investments and boost national oil production to meet 2026 targets.

Notice of Election Expected in February

As 2026 is designated a "Year of Unlimited Politicking," the Independent National Electoral Commission (INEC) is expected to issue the formal notice for the next general elections next month. Political parties are already preparing for a flurry of congresses and conventions. Analysts warn that the rise of AI-generated misinformation will be a major challenge for the 2026 political cycle.

Entertainment: Edo Magazine Launched to Promote Local Talent

The Edo State Government has launched a new entertainment magazine, Eghe-Nova, dedicated to promoting the state's burgeoning music and cultural talents. This is part of a 2026 creative economy initiative to brand Benin City as a global hub for traditional-modern fusion arts. The government also reaffirmed its commitment to security following the recent tragic killing of a prominent doctor in Auchi.

Infrastructure: Ikpoba Hill Flyover Boosts New Year Trade

Residents and traders in Benin City are reporting a significant boost in commercial activity following the full operation of the Ikpoba Hill Flyover this week. The project has successfully eased the chronic traffic congestion that previously plagued the region's main trade route. Infrastructure experts cite this as a successful model for the "Renewed Hope" ward-level development projects planned for 2026.

Tinubu Stands Firm on New 2026 Tax Laws

President Bola Ahmed Tinubu addressed the nation this week, confirming there will be "no going back" on the implementation of the 2025 Tax Act, which became effective on January 1.⁵ The President emphasized that the reforms are necessary to boost government revenue and stimulate SMEs. Despite pushback from organized labor, the Presidency pledged to work with the National Assembly to resolve any "implementation hitches" while maintaining fiscal discipline through 2026.⁶

Inflation Projected to Drop to 12.9% by Year-End⁷

A landmark report from the Central Bank of Nigeria (CBN) released yesterday predicts that headline inflation will average 12.94% in 2026, down from its 2024 peaks.⁸ This "disinflation dividend" is attributed to tight monetary policy and a stabilizing Naira. CBN Governor Olayemi Cardoso noted that while prices remain high, the "Rubicon has been crossed," and the economy is projected to expand by 4.49% this year, led by the non-oil sector.

$2.6 Trillion Market Eyes 15% Returns in 2026¹⁰

Nigeria’s real estate sector is being hailed as a "destination for patient capital" this week, with analysts valuing the market at a staggering $2.61 trillion.¹¹ In Lagos, demand for land remains at an all-time high of 61.6%, particularly in Lekki and Epe. Experts predict that diaspora remittances, expected to hit $22 billion this year, will fuel luxury developments, while "green housing" and proptech adoption are projected to expand the sector by 10%.

Nigerian Firms Set for 2026 Expansion Hires

According to the latest Business Expectation Survey, Nigerian businesses are planning a massive recruitment drive this January.¹³ The agriculture and mining sectors have the highest prospect for new employment as firms move from "defensive" cost-cutting to expansion.¹⁴ The survey indicates rising confidence in the economy, though businesses still cite "multiple taxation" and "insecurity" as the top five constraints facing the labor market in the new year.

Super Eagles Chase AFCON Glory in Morocco

The Super Eagles have successfully advanced to the quarterfinals of the 2025/2026 AFCON in Morocco after a dominant 4-0 win over Mozambique. Head coach Eric Chelle has been praised for bringing stability to the attack, with Ademola Lookman and Victor Osimhen in top form. The team is now preparing for a high-stakes clash against either Algeria or DR Congo, with fans hoping for a fourth continental title.

Entertainment: "Supernowa" Set to Lead Nollywood’s January Slate

The Nigerian film industry is bracing for a busy January with the release of Supernowa on January 9. The film tells the story of a 12-year-old talent overcoming anxiety to compete on a global stage. Additionally, Netflix is set to launch "Skyscraper Live," a high-rise thrill special filmed in Lagos. Critics expect 2026 to be a record-breaking year for Nollywood as production budgets reach new heights to meet global streaming demand.

Homecoming 2026 to Merge Art in Lagos¹⁶

Organizers of the Homecoming Festival officially announced its return to Lagos from April 2 to April 6. The 2026 edition promises five days of cultural exchange, bringing together designers from the African diaspora.¹⁷ This year’s theme focuses on "Connection," with a special emphasis on how streetwear and traditional Nigerian textiles can intersect with athletic fashion, following the global success of Nigerian-inspired designs in 2025.

Infrastructure: Landmark Centre to Host Record Energy Expos

Lagos is cementing its status as a regional infrastructure hub, with the Landmark Centre fully booked for 2026. The year kicks off with Powerelec Nigeria in February, focusing on solar and EV storage.¹⁸ Government officials noted that these expos are critical for the "Development Road" initiative, which aims to modernize Nigeria’s power grid using decentralized renewable energy solutions to bypass the frequent national grid failures.

Lagos (Economic Powerhouse)

"Omotaku" Taskforce Crackdown: A specialized Lagos State taskforce arrested 32 miscreants across the city today. The "Clampdown on Omotaku" initiative is part of a 2026 urban renewal project aimed at securing transit hubs and reducing street-level harassment in busy districts like Oshodi and Obalende.

Mass Metering Surge: NERC released yesterday shows Lagos is leading the nation’s metering efforts. The Ibadan DisCo, which covers parts of the metro area, recorded the highest number of new meter installations this week, significantly reducing the reliance on estimated billing for thousands of households.

Nollywood Premiere Sets Record: The highly anticipated film Supernowa officially premiered in Lagos on January 5. Cinema owners reported record-breaking opening weekend ticket sales, signaling that 2026 will be a landmark year for high-budget, locally produced theatrical content.

Kano (Northern Commercial Hub)

Airstrikes Neutralize Fleeing Bandits: The Nigerian Air Force confirmed today that 23 bandits were neutralized in precision strikes after they fled failed attacks on Shanono and Tsanyawa. Ground forces tracked the group to the neighboring Katsina border, where the successful "Operation Fansan Yamma" was concluded.

Calm Returns to Markets: Despite the recent security operations on the city's outskirts, the military reiterated today that Kano's central markets remain calm and fully operational. Increased patrols have been deployed to ensure the safety of traders and international buyers from the Sahel region.

Solar Grid Expansion: Local authorities in Kano announced a new 2026 partnership to install decentralized solar grids in rural local government areas. The project aims to provide 24-hour power to irrigation pumps, boosting the state’s agricultural output for the upcoming harvest season.

Ibadan (Academic & Trade Center)

Planned Blackouts for Roadwork: The IBEDC announced that 22 communities in Ibadan will experience daily three-hour power outages from January 5 to January 9. The temporary blackouts are necessary for the relocation of electrical assets along the Foodco Road and Idi Isin axes due to major road construction.

Airport Resumes Full Operations: Commercial flights have officially resumed at Ibadan Airport following a temporary closure for runway upgrades. Air Peace launched its new 2026 schedule today, offering increased frequency for the Ibadan-Abuja route to meet rising business demand.

Cocoa House Renovation Phase 1: The iconic Cocoa House began its first structural preservation phase of 2026 this morning. The project is part of a state-led initiative to revitalize the city's heritage sites while modernizing office spaces for Ibadan's growing tech startup scene.

Abuja (Administrative Capital)

Senate Receives 21 Board Nominees: President Tinubu submitted 21 nominees for the boards of the NUPRC and NMDPRA to the Senate yesterday. The nominations, which include Senator Magnus Abe as NUPRC chair, are seen as the final step in stabilizing the oil and gas regulatory framework for 2026.

UN Calls for Civilian Protection: The UN Resident Coordinator in Abuja, Mohamed Malick Fall, issued a strong statement today calling for the protection of schools and markets. The plea follows the "Kasuwan Daji" attack in nearby Niger State, which claimed over 30 lives earlier this week.

Highway Robbery Foiled: Troops of the Guards Brigade successfully foiled an armed robbery attempt on the Abuja-Kaduna highway last night. The quick response has bolstered public confidence in the "Safe Corridor" initiative as civil servants return to the capital after the holidays.

Port H(Oil & Gas Hub)

Pastor Arrested in "Assassination Plot": Port Harcourt police have detained Dr. Tombari Joseph Gbeneol, a local pastor and doctor, over an alleged plot to assassinate FCT Minister Nyesom Wike. The arrest has intensified the ongoing political friction between Wike’s supporters and Governor Fubara’s administration.

Customs Revenue Hit N731bn: The Port Harcourt Area II Command announced today that its 2025 revenue collection reached a record N731 billion. Officials are targeting a 15% increase for 2026, citing improved automation and faster clearing times at the Onne Port.

Gas-to-Power Project Update: Construction crews at the new Port Harcourt industrial gas plant reached a major milestone today, finishing the primary pipeline connection. The project is expected to stabilize the city's independent power grid by the second quarter of 2026.

Benin City (Cultural Heartland)

Denies Assault Allegations: The Benin Traditional Council officially dissociated the Oba of Benin from a recent assault on filmmaker Pedro Obaseki. The Council condemned the violence, describing it as "not in the character of the revered monarch," and urged youths to avoid vigilantism.

Ransom Paid for Abducted Twins: A family in Okpella revealed today that they paid a ransom for the release of their abducted twins, contradicting police claims of a "rescue." The incident has sparked a local debate over the effectiveness of community vigilante groups in the new year.

Flyover Trade Boost: Traders at Ikpoba Hill reported a 20% increase in daily turnover today, attributing the surge to the seamless traffic flow provided by the newly completed flyover, which has eliminated the gridlock that previously deterred shoppers.

Onitsha (Commercial Giant)

Digitalization of Main Market: The Onitsha Main Market association launched its first 2026 "Digital Inventory" pilot today. The program aims to move 5,000 traders onto a central platform to help track goods and reduce the prevalence of counterfeit products in the regional trade hub.

Second Niger Bridge Toll Review: Federal officials in Onitsha are conducting a week-long traffic study to review the tolling structure for the Second Niger Bridge. The will be used to adjust 2026 rates to encourage more heavy-duty cargo transit away from the older bridge.

Waste-to-Energy Groundbreaking: The Anambra State Government broke ground today on a new waste-to-energy plant in Onitsha. Once operational in late 2026, the facility will process 500 tonnes of market waste daily to provide supplemental power to the surrounding industrial estates.

Kaduna (Liberal Northern Hub)

Improved Security Optimism: Residents of Kaduna expressed high optimism for 2026 during a TVC News survey today. Improved joint-taskforce patrols on the city's periphery have allowed farmers to return to their lands for the first time in three seasons.

Nomination for TUC Leader: Former TUC chairman Engineer Paul Yaro Jezhi was nominated today as a non-executive commissioner for the NUPRC. The news was celebrated in Kaduna as a significant win for local labor representation at the federal level.

Green Energy Training: A new vocational center in Kaduna welcomed its first batch of 200 students today for specialized training in solar panel maintenance and irrigation technology, part of the 2026 "Green North" initiative.

Enugu (Coal City State)

N870 Billion Revenue Target: Governor Peter Mbah directed all state agencies today to work toward an ambitious N870 billion IGR target for the 2026 fiscal year. Mbah noted that global geopolitical tensions make federal allocations unpredictable, necessitating state self-sufficiency.

Stolen Truck Syndicate Busted: Enugu State Police disrupted an interstate vehicle theft syndicate today, recovering two Mack trucks stolen from Aba. Two suspects were arrested in Emene while attempting to sell the vehicles to a local scrap dealer.

Smart Schools Launch: The state government confirmed that all 260 "Smart Schools" will be fully operational by February 2026. These schools feature digital learning labs and renewable power, aiming to transform Enugu into a regional education technology hub.

1Aba (Manufacturing Capital)

Aba DisCo Leads in Metering: NERC’s Q3 report confirmed today that the Aba Power DisCo saw a 173% increase in meter installations, the highest growth rate in Nigeria. The surge is being hailed by manufacturers as a critical step toward ending estimated billing in the "Japan of Africa."

Leather Works Export Drive: A group of Aba-based shoe manufacturers signed a new 2026 export agreement with a South African retail chain today. The deal is expected to move 50,000 pairs of "Aba-Made" footwear monthly, boosting the local foreign exchange inflow.

Ariaria Market Reconstruction: The final phase of the Ariaria International Market modernization project began this morning. The 2026 plan includes improved drainage systems to prevent the seasonal flooding that has historically disrupted trade in the manufacturing zone.