Stark Raven
The Central Bank of Nigeria's Monetary Policy Committee (MPC) retained the Monetary Policy Rate (MPR) at 26.5 percent following its 306th meeting held on 20 and 21 July 2026...
BANKING & FINANCE
CBN Retains Monetary Policy Rate at 26.5%
The Central Bank of Nigeria's Monetary Policy Committee (MPC) retained the Monetary Policy Rate (MPR) at 26.5 percent following its 306th meeting held on 20 and 21 July 2026.
The Committee also retained the asymmetric corridor around the MPR at +100/-300 basis points, the Cash Reserve Ratio (CRR) for Deposit Money Banks at 50 percent, and the Liquidity Ratio at 30 percent.
The decision maintains the prevailing monetary policy direction of the Central Bank as it continues to respond to developments affecting inflation, economic activity, liquidity and financial system stability.
The MPC's decision provides continued clarity for financial institutions, businesses and investors regarding the monetary policy environment. The MPR remains an important benchmark for borrowing and lending conditions within the financial system, while the CRR and liquidity requirements continue to influence the amount of funds financial institutions are required to hold and their capacity to extend credit.
The Committee's decision will therefore remain relevant to businesses assessing financing costs, investment decisions and broader financial planning as the Nigerian economy continues to adjust to prevailing macroeconomic conditions.
ENERGY
NERC Issues Guidelines for Technical Audit of Transmission System and Network Data Validation
The Nigerian Electricity Regulatory Commission (NERC) has issued the Guidelines on the Procedures for Technical Audit of the Transmission System and Network Data Validation, effective from 20 July 2026.
The Guidelines establish procedures for conducting technical audits of the transmission system and validating network data within the Nigerian Electricity Supply Industry (NESI). The framework is intended to provide a structured basis for assessing the condition and performance of transmission infrastructure and the accuracy and reliability of relevant network information.
The Guidelines are issued against the background of the continuing development of Nigeria's electricity market under the Electricity Act 2023, which provides the broader statutory framework for the regulation of the electricity supply industry.
Reliable transmission-system data is important to the planning, operation and regulation of the electricity market. A formalised technical audit and data-validation process therefore provides NERC with a framework for obtaining and assessing information relating to the transmission network as part of its regulatory oversight.
The introduction of the Guidelines represents another regulatory development in the ongoing effort to strengthen the technical and institutional framework governing Nigeria's electricity transmission system.
ENERGY, OIL & GAS
31 Companies Emerge Winners of 37 Oil and Gas Blocks in NUPRC's 2025 Licensing Round
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the successful companies emerging from Nigeria's 2025 Oil and Gas Licensing Round.
According to the Commission, 143 companies submitted 200 bids for 37 of the 50 blocks offered during the licensing exercise. Following the evaluation process, 31 companies emerged successful bidders for 37 oil and gas blocks.
The awarded blocks span different geographical and geological areas, including the Niger Delta Onshore, Niger Delta Shallow Water, Niger Delta Deep Offshore, Benin Basin, Anambra Basin, Chad Basin and Benue Trough.
The licensing round attracted participation from both Nigerian and international companies, reflecting continued interest in opportunities within Nigeria's upstream petroleum sector.
NUPRC stated that the successful bidders are required to complete the necessary post-award processes, including payment of applicable signature bonuses, while final awards remain subject to approval by the Minister of Petroleum Resources in accordance with the Petroleum Industry Act 2021.
The Commission also highlighted the development obligations attached to the awarded assets, including applicable drill-or-drop requirements. Successful awardees will therefore be required to comply with the relevant terms governing the development of their respective blocks.
The conclusion of the licensing round marks a significant development for Nigeria's upstream sector and is expected to provide a framework for further exploration and development activities across the awarded acreage.
AVIATION
NCAA Reviews Aviation Security Oversight Framework at 2026 Strategic Meeting
The Nigeria Civil Aviation Authority (NCAA), through its Directorate of Aviation Security Regulations (DAVSEC), held its 2026 Aviation Security Strategic Meeting from 20 to 23 July 2026 in Abuja.
The meeting brought together management and technical personnel within the Directorate to review aviation security oversight activities and assess regulatory priorities.
A key aspect of the meeting was a review of the implementation of corrective action plans arising from the International Civil Aviation Organization's (ICAO) Universal Security Audit Programme Continuous Monitoring Approach (USAP-CMA).
The Directorate also reviewed its performance across various areas of aviation security oversight and considered measures for strengthening its regulatory framework and operational effectiveness.
The meeting reflects the NCAA's continued focus on maintaining effective aviation security oversight and addressing areas identified through international monitoring and assessment processes.
The review is particularly relevant to Nigeria's continued alignment with international aviation security standards and the country's broader efforts to maintain a robust regulatory and oversight framework for aviation security.
TELECOMMUNICATIONS & TECHNOLOGY
NCC Advances Consultation on Zero-Rated Access to Educational Platforms and Content
The Nigerian Communications Commission (NCC) is advancing stakeholder consultation on a proposed framework for Zero-Rated Access to Educational Platforms and Content.
The initiative is aimed at improving access to digital educational resources by enabling users to access selected educational platforms and content without incurring the usual data charges associated with internet use.
The proposed framework involves considerations across the telecommunications and education sectors, particularly in relation to the participation of network operators, educational platforms, content providers and other relevant stakeholders.
The consultation forms part of broader efforts to address digital access and affordability while expanding the use of telecommunications infrastructure for educational purposes.
For telecommunications operators and businesses involved in digital education, the development is relevant to the evolving regulatory environment around digital connectivity, access and service provision.
As the consultation process progresses, stakeholders will need to monitor the NCC's subsequent decisions and any final framework that may establish the eligibility requirements, operational arrangements and responsibilities applicable to participating entities.