NESG forum, MSME summit… business updates to track this week

Here are the top business stories and events to track this week — August 17 to August 22.

NESG TO HOLD INDUSTRIALISATION, COMPETITIVENESS FORUM 

The Nigerian Economic Summit Group (NESG) is set to hold an industrialisation and competitiveness forum aimed at examining strategies to strengthen Nigeria’s manufacturing sector and improve the country’s economic competitiveness.

According to NESG, the forum is scheduled to take place virtually on Wednesday, August 19, bringing together policymakers, business leaders, economists and other stakeholders to discuss industrial policy, investment and measures to improve productivity.

The event is expected to focus on challenges affecting industrial growth and explore policy and private-sector solutions for improving Nigeria’s competitiveness, attracting investment and supporting sustainable economic growth.

MSME SUMMIT TO EXPLORE DIGITALISATION 

Stakeholders in Nigeria’s micro, small and medium enterprises (MSMEs) and startup ecosystem will on Thursday discuss how digitalisation can help unlock non-oil revenue and accelerate economic growth.

The discussion will take place at the 6th annual MSME & Startup Economic Summit 2026, scheduled for August 20 at the Civic Centre, Victoria Island, Lagos.

The summit, themed ‘Digitising MSMEs for Unlocking Nigeria’s Non-oil Revenue and Economic Growth,’ will bring together industry leaders, policymakers, investors, innovators and entrepreneurs.

Stakeholders will examine how digital tools can strengthen MSMEs, support youth-led innovation, advance structural reforms and create new sources of revenue outside the oil sector.

DMO TO AUCTION N425BN FGN BONDS ON AUGUST 17

The Debt Management Office (DMO) has offered N425 billion worth of Federal Government of Nigeria (FGN) bonds for subscription through auction.

DMO said the offering, comprising three re-openings, are scheduled for August 17, while settlement is expected on August 19.

The offer comprises N250 billion of the 22.60 percent FGN January 2035 bond, N100 billion of the 16.2499 percent FGN April 2037 bond and N75 billion of the 15.45 percent FGN June 2038 bond.

CBN LIFTS DISCOUNT WINDOW RESTRICTIONS TIED TO FX, GOVERNMENT SECURITIES TRANSACTIONS 

The Central Bank of Nigeria (CBN) says it has removed the discount window restrictions arising from participation in primary auctions of government securities for banks.

In a circular signed by Okey Umeano, acting director, financial markets department, the CBN lifted the suspension of tenored repurchase (repo) operations, allowing it to conduct repo transactions with maturities of between four and 90 days.

Under the revised framework, restrictions on access to the discount window arising from participation in the Nigerian foreign exchange market (NFEM) have been removed.

TINUBU APPROVES FRAMEWORK TO UNLOCK $50BN DEEP OFFSHORE INVESTMENT 

President Bola Tinubu has approved a reform that replaces project-by-project negotiations with a transparent investment framework designed to unlock up to $50 billion in deep offshore investment.

Bayo Onanuga, presidential spokesperson, said the reform is expected to restart Nigeria’s large, capital-intensive offshore developments that have remained stalled for decades.

Onanuga said the approval also enables the Nigerian National Petroleum Company (NNPC) Limited, the government’s nominated counterparty under the production sharing contracts (PSCs), to proceed with the necessary amendments to eligible PSCs required to implement the framework.