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Oyedele Welcomes the Reclassification of Nigeria to Frontier Market Status by FTSE Russell

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Taiwo Oyedele

Oyedele Welcomes the Reclassification of Nigeria to Frontier Market Status by FTSE Russell

The Federal Ministry of Finance welcomes the confirmation by global index provider FTSE Russell that Nigeria’s capital market will be reclassified from “Unclassified” to “Frontier Market” status, effective from the open of trading on Monday, 21 September 2026.
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The decision marks Nigeria’s return to the global Frontier Market universe, nearly three years after its exclusion in September 2023, when persistent difficulties in capital repatriation and foreign exchange execution made the market inaccessible to international investors.

The reclassification follows sustained improvements in foreign exchange liquidity, capital repatriation and market accessibility, and reflects the cumulative impact of the Federal Government’s macroeconomic and structural reform programme.

The reclassification is an important validation of Nigeria’s reform trajectory and a foundation for the next phase of the country’s capital market development. It is a meaningful signal to global capital that our market is open, orderly and improving.

It reflects years of disciplined work across government and the private sector to restore confidence in our economy. We see this as a milestone, not a destination. Our ambition remains to build a capital market that is deep, liquid and competitive enough to earn Emerging Market status in the near term.

The Ministry commends the Securities and Exchange Commission, the Central Bank of Nigeria, the Nigerian Exchange Group, the Central Securities Clearing System, and all capital market operators and stakeholders for their sustained collaboration in achieving this outcome. Their coordinated efforts spanning regulatory reform, market infrastructure modernisation and investor engagement have been central to restoring Nigeria’s standing among global index providers.

Taiwo Oyedele

Taiwo Oyedele

Looking ahead, the Federal Government reaffirms its commitment to working with market regulators and institutions to deepen liquidity, broaden participation and strengthen investor protections, with the medium-term goal of positioning Nigeria for progression to Emerging Market status.

The Ministry will continue to support policies that enhance the depth, transparency and global competitiveness of Nigeria’s capital market as a key pillar of the nation’s economic transformation agenda.

Signed:
𝐓𝐚𝐢𝐰𝐨 𝐎𝐲𝐞𝐝𝐞𝐥e
Hon. Minister of Finance and Coordinating Minister of the Economy
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Economy

NAF Boost Air Power, Mission Readiness with Reconstructed Runway, Military Apron in Rivers

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NAF

NAF Boost Air Power, Mission Readiness with Reconstructed Runway, Military Apron in Rivers

The Nigerian Air Force (NAF) has further strengthened its operational capability and mission readiness with the commissioning of a reconstructed runway and military apron on 27 August 2026 in Rivers State.
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Commissioned by the Chief of the Air Staff (CAS), Air Marshal Sunday Kelvin Aneke, the upgraded facilities will enhance aircraft deployment, turnaround times, maintenance and operational efficiency, particularly in support of security operations across the South-South region.

Air Marshal Aneke commended the Rivers State Government, led by Governor Siminalayi Fubara, for its funding and support towards the reconstruction, describing the intervention as a commendable contribution to national defence.

He noted that the facilities will enhance operational readiness, surveillance and reconnaissance, while enabling faster aircraft deployment against evolving security threats, including terrorism, insurgency, banditry, piracy, organised crime and illegal bunkering.

NAF

NAF, Fubara

Beyond security operations, the upgraded facilities will strengthen the NAF’s capacity for humanitarian assistance, medical evacuation, search-and-rescue and disaster response. The CAS also acknowledged the leadership and support of President Bola Ahmed Tinubu, Commander-in-Chief of the Armed Forces, and commended all stakeholders whose contributions made the project possible.

The development reflects the NAF’s continued commitment to building a stronger, more agile and capable force in service to Nigerians and to advancing peace, security and prosperity in Rivers State and Nigeria.
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Economy

Tinubu Government Unveils 100 Electric Buses for Civil Servants

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Civil Servants

Tinubu Government Unveils 100 Electric Buses for Civil Servants

The Federal Government has commissioned 100 electric buses under the Renewed Hope Mass Transit Programme to ease transportation challenges for federal civil servants and improve workers’ welfare.
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The buses were launched on Wednesday at Eagle Square, Abuja, with the Head of the Civil Service of the Federation, Mrs Didi Walson-Jack, describing the initiative as a major milestone in efforts to improve the welfare of civil servants.

The first phase of the programme comprises 37 of the 100 buses approved under the Renewed Hope Mass Transit Programme, as reported by Vanguard.

Walson-Jack described the commissioning as her “parting gift” to federal civil servants, coming less than 24 hours before the end of her tenure as Head of the Civil Service.

“What we have here is 37 buses, being the first instalment of the 100 Electric Buses,” she said.

She said transportation had a significant impact on workers’ finances, safety, punctuality and productivity, adding that affordable and reliable transportation would help reduce the burden on civil servants.

“For many Civil Servants, the daily commute shapes their finances, their safety, their punctuality, and ultimately their productivity,” she said.

FG unveils 100 electric buses for civil servants

According to her, the intervention would enable workers to save money, reduce commuting risks and arrive at work with more energy to deliver quality public service.

“A Special Purpose Vehicle has been established to ensure their proper management, maintenance and long-term sustainability,” she said.

Meanwhile, the Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, described the project as more than a transportation intervention, saying it combined workers’ welfare, productivity, industrialisation and technology.

He said each of the 100 electric buses could accommodate up to 200 passengers and travel a minimum of 200 kilometres on a full charge.

Also, Director General of the National Automotive Design and Development Council, Olu Osanipin, in a statement on his X handle, said the “first deployment marks the beginning of a phased rollout, with the full complement of 100 electric buses expected to be deployed by December 2026.”

FG unveils 100 electric buses for civil servants

Civil Servants

Transportation

Enoh commended NADDC and other stakeholders involved in the project, urging local manufacturers to invest in factories, deepen local content and produce globally competitive products.

He said the Federal Government remained committed to ensuring that its economic reforms translated into industries, jobs, infrastructure and improved living standards for Nigerians.
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Crime

Brazil Fines TikTok $30m Over Failure to Implement Child Safety

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TikTok Not A Social Media Platform, Official Reveals

Brazil Fines TikTok $30m Over Failure to Implement Child Safety

Brazil’s data protection agency on Tuesday fined TikTok nearly $30 million for failing to implement child safety measures in what it said was a “powerful signal” to social media companies.
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Brazil has taken a tough stance on the regulation of social media platforms, cracking down on disinformation and requiring users under 16 years to have their accounts linked to those of their parents.

An enforcement director with the ANPD data protection agency, Fabricio Lopes, told a press conference that TikTok “was not taking the necessary measures to prevent adolescents from accessing the platform and from having the data of these children and adolescents processed.”

This data was “being used to offer advertising to adolescents.”

He said the fine of 153.7m reais ($29.9 million) was a “powerful signal to other platforms regarding how seriously the ANPD takes this work” and that the agency hoped they “get the message.”

TikTok agreed last week to pay $400m to settle a lawsuit with the US Department of Justice over claims that the video-sharing platform collected children’s personal data without parental permission.

– Tougher enforcement –
This month, the ANPD also ordered popular streaming platform Discord to suspend livestreams and video calls after a teenage girl was allegedly encouraged to take her own life during a broadcast.

The agency told AFP that an appeal filed by Discord on Monday against the suspension is under review.

ANPD director Lorena Coutinho said the agency had, last week, initiated proceedings to verify the compliance of 22 social media networks and platforms with a law passed this year to protect children and teens online.

In addition to the fine, the ANPD ordered TikTok parent company ByteDance to delete data collected in violation of regulations.

Coutinho said TikTok had committed to suspend all adverts for users who are not logged in.

TikTok has committed to “implementing a compliance plan to improve the protection of children and adolescents,” the ANPD said.

Brazil Fines TikTok

Brazil Fines TikTok

The platform will be required to automatically apply stricter privacy settings to accounts belonging to children under the age of 16, strengthen parental supervision systems, and implement stricter content filters.

TikTok did not immediately respond to requests for comment from AFP.

In 2024, the platform X was blocked for 40 days in Brazil, until the social media network owned by the world’s richest person, Elon Musk, complied with the Supreme Court’s orders to remove accounts spreading disinformation.
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