1. High-purity gold refinery opens in Lagos as value-added mining drive gains pace
The Federal Ministry of Solid Minerals Development has inaugurated a high-purity gold refinery in Lagos, marking the first facility of its kind in Nigeria. The announcement was made by Minister Dele Alake during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources ahead of the Future Minerals Forum in Riyadh. The refinery is part of the federal government’s strategy to expand domestic mineral processing and reduce the export of raw resources.
The minister also disclosed that a $600 million lithium processing plant in Nasarawa State is ready for commissioning, while three additional gold refineries are under development in other parts of the country. According to the ministry, the projects are designed to strengthen local value chains, create employment opportunities, and increase government revenue from the solid minerals sector.
2. DMO opens January 2026 FGN Savings Bonds subscription
The Debt Management Office has opened subscriptions for the January 2026 Federal Government of Nigeria Savings Bonds, offering interest rates of up to 15.396 percent per annum on two- and three-year tenors. The bonds feature quarterly interest payments and are backed by the full faith of the federal government, with subscriptions closing on January 16 and settlement scheduled for January 21.
The DMO stated that the savings bonds remain exempt from taxes for eligible investors, including pension funds, and are targeted at retail investors seeking low-risk instruments. The programme forms part of efforts to deepen domestic borrowing and encourage broader participation in government securities.
3. Vice President Shettima urges discipline and integrity in public service
Vice President Kashim Shettima has called on public servants to prioritise discipline, consistency, and strong character in the execution of their duties. Speaking at a public service colloquium, he emphasised that long-term impact in governance is built on integrity, resilience, and commitment to national interest rather than short-term recognition.
Shettima noted that the public service plays a central role in implementing ongoing reforms and stressed the importance of professionalism in rebuilding public confidence. He urged officials across ministries, departments, and agencies to uphold ethical standards and improve service delivery.
4. CBN reiterates focus on financial literacy and consumer protection
The Central Bank of Nigeria has reaffirmed its commitment to strengthening financial literacy and consumer protection across the country. The apex bank said it is expanding public education campaigns to improve awareness of financial products, complaint resolution channels, and customer rights, particularly as digital banking adoption increases.
CBN officials explained that the initiative is aimed at building trust in the financial system and improving access to formal financial services. The bank noted that informed consumers are essential to sustaining financial inclusion and stability in both urban and rural communities.
5. PwC projects economic growth but warns poverty levels may rise
PricewaterhouseCoopers has projected Nigeria’s economic growth at approximately 4.5 percent in its 2026 Economic Outlook, while cautioning that poverty levels could increase. The report estimates that up to 141 million Nigerians, representing about 62 percent of the population, may remain affected due to rising living costs, stagnant wages, and limited social protection coverage.
PwC identified food inflation and employment constraints as key pressure points, urging targeted policy interventions to ensure economic growth translates into improved household welfare. The report recommends expanded job creation, skills development, and stronger safety-net programmes.
6. Federal government establishes Nigeria House Davos ahead of WEF 2026
The federal government has announced the establishment of “Nigeria House Davos” ahead of the 56th Annual Meeting of the World Economic Forum scheduled for January 19–23, 2026, in Switzerland. The platform will serve as a hub for ministerial engagements, investment meetings, and policy discussions during the global forum.
Officials said the initiative, structured as a public-private partnership, is intended to provide Nigeria with a dedicated space to engage international investors and policymakers. The platform will highlight reforms and investment opportunities across key sectors of the economy.
7. FG orders palliative repairs on Lagos–Ota–Abeokuta road
The Federal Ministry of Works has directed contractors to commence immediate night-time palliative repairs on damaged sections of the Lagos–Ota–Abeokuta Road. The intervention follows sustained complaints from commuters and businesses over traffic congestion and road deterioration along the corridor.
According to the ministry, the repairs are aimed at restoring traffic flow and reducing disruption to economic activities in the area. Officials added that the work will be carried out during night hours to minimise daytime inconvenience to road users.
