WEEKEND BRIEF 

By Adeyemi Oke | Friday, 24 July 2026

Three things from this week worth carrying into the weekend.

1. The naira held. The question is why it feels like it hasn't.

The CBN kept its benchmark interest rate at 26.50 per cent this week. The naira strengthened slightly to close near ₦1,375 to the dollar, and reserves climbed past $52 billion. On paper, that's stability. The gap between what the CBN reports and what a household actually feels is the same gap this edition keeps returning to. It's the same gap that shows up when a billion-dollar remittance target lands in a press release instead of a lower transfer fee.

2. The 2027 endorsement machine is already running.

Six North East governors and elder statesmen visited the Villa this week to publicly back Tinubu's re-election bid, following five South East governors who did the same last week. None of this changes an election still 18 months away. It tells you where the political weather is currently blowing, and who's making sure they're standing in the right spot when it does.

3. A number that outranks pipeline vandalism.

A House committee chair told a policy dialogue in Uyo this week that malnutrition costs Nigeria more than oil pipeline vandalism and power outages combined. He cited World Bank figures of $2.5 billion a year in lost productivity and healthcare costs. Nobody can film a child not getting enough to eat the way they can film a burning tanker.

Research Assistants: Tobi Lawal, Mustafa Ahmed, Stephen Akpan, Gbeminiyi Olumide, Tosin Akinlade

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