Economy
Crowdfunding Will Unlock Untapped Capital in Economy—SEC
By Aduragbemi Omiyale
The Securities and Exchange Commission (SEC) has further thrown its weight behind crowdfunding, stressing that its operationalization will accelerate the financial inclusion agenda in Nigeria by increasing the quantum of investible funds in the financial system and unlocking the untapped capital in the economy.
The Executive Commissioner for Operations at SEC, Mr Dayo Obisan, described crowdfunding as a new phenomenon growing popular in Nigeria.
He further said the platform is an innovative source of finance which provides micro, small and medium enterprises (MSMEs) and start-ups the avenue to raise capital from the crowd (populace) by harnessing the power of the internet.
Speaking at a webinar with the theme Accelerating Financial Inclusion Through Crowdfunding, Mr Obisan said in “realization of the potentials of crowdfunding, the commission’s rules issued in January 2021 has taken concrete steps to improve the regulatory framework for crowdfunding by the introduction of the operational framework between the fundraisers and the investing public in Nigeria.”
“The framework amongst others makes it mandatory for any investment-based crowdfunding to be operated only by intermediaries through the issuance of investment instruments. This will no doubt provide an additional opportunity for MSMEs, startups and the general public to quicker fundraising options,” he added.
The senior official of SEC further stated that, “It is strongly believed that the capital market has a leading role to play in this regard by collaborating with relevant stakeholders to map out strategies for deepening the capital market through Financial Inclusion as well as continuous enlightenment programs with a focus on collective investment schemes.”
“Certainly, this roundtable discussion promises to be exciting. The faculty gathered here are experts in various fields and set to impact knowledge on Understanding crowdfunding, its regulatory framework in Nigeria and the potential of crowdfunding in accelerating retail participation in the capital market.
“I encourage every participant to take advantage of this educative forum as I have no doubt that this subject will lead to the birth of new ideas that will equip us with the requisites knowledge and skills to achieving financial inclusion through crowdfunding,” he added.
Mr Obisan said the event hosted by the SEC was the first in a series since the commission’s rules governing crowdfunding became effective in January 2021 with the main objective of “investor safety” and is aimed at providing a platform for knowledge and experience sharing among participants.
“It is also to raise awareness of participants, and indeed Nigerians, on crowdfunding as a funding mechanism for start-ups and MSMEs, to enlighten them on experiences and lessons on crowdfunding from other jurisdictions as it an alternative way of investment and financing of businesses,” he further disclosed.
He commended participants on their keen interest in the potential of achieving an all-inclusive capital market for advancement and the growth of the Nigerian economy.
In her remarks, the President of the African Crowd Funding Association, Mrs Elizabeth Howard, described crowdfunding as an umbrella term that explains the use of small amounts of money, obtained from a large number of individuals or organisations to fund a project, a business or personal loan and other needs through online web-based platforms, noting that it is like putting money in a wallet.
Also speaking the Chief Operating Officer of the National Association of Securities Dealers (NASD), Mr Eguarekhide Longe, stated that crowdfunding could aid capital mobilisation for economic growth and development.
By Adedapo Adesanya
About 143 companies that successfully passed the technical and prequalification stages of the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) 2025 Licensing Round will, today, compete for 50 oil and gas blocks at the commercial bid conference in Abuja, the final stage in the allocation process for the assets.
The commission said only the prequalified companies have been invited to attend the event, which will hold at the Conference Centre of the Transcorp Hilton Hotel, Abuja, stressing that participation is strictly by invitation.
The commercial bid conference will determine the successful bidders for oil and gas assets located across Nigeria’s producing and frontier basins.
The 50 blocks comprise 16 onshore blocks and 18 shallow water blocks in the Niger Delta, one deep offshore block, three onshore blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin, and four in the Benue Trough.
According to the commission, the winning bids will be determined through a transparent evaluation process based on clearly defined commercial parameters. These include the signature bonus offered by bidders, the proposed work programme commitment and the level of performance security provided. The final selection will be based on a weighted technical and commercial score.
The licensing round is being conducted under the provisions of the Petroleum Industry Act (PIA) 2021, which requires a transparent and competitive process for the award of petroleum assets.
NUPRC had announced the commencement of the 2025 Licensing Round on November 11, 2025, before opening the online bid portal on December 1, 2025, to enable interested companies to register and participate in the exercise.
To ensure prospective investors fully understood the requirements, the commission organised a pre-bid conference on January 14, 2026, at Eko Hotels and Suites, Lagos. The event provided detailed explanations on the licensing guidelines and bidding procedures to registered participants and other stakeholders.
Registration and submission of prequalification documents closed on February 27, 2026, while the prequalification evaluation was completed on March 16, 2026.
NUPRC disclosed that 286 companies initially submitted applications for prequalification.
Following the evaluation process, 196 companies were cleared to participate in the technical and commercial bid stages.
The prequalified 143 companies eventually submitted a total of 200 bids for the available oil and gas blocks. These companies are now set to compete at the commercial bid conference, where the financial offers will be opened and evaluated to determine the eventual winners.
The licensing round is expected to attract fresh investment into Nigeria’s upstream petroleum sector, boost exploration activities across both producing and frontier basins, increase crude oil and gas reserves, and support the country’s drive to grow production and government revenue.
It also underscores the regulator’s commitment to implementing a transparent, competitive and investor-friendly licensing regime under the Petroleum Industry Act.
By Adedapo Adesanya
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained all key monetary policy parameters following the conclusion of its two-day meeting on July 21, 2026, on Tuesday, maintaining its tight monetary policy stance to curb inflation and support macroeconomic stability.
According to the Governor of the apex bank, Mr Yemi Cardoso, who chaired the committee, the Monetary Policy Rate (MPR), which serves as the benchmark interest rate, remains at 26.50 per cent. The MPC also retained the asymmetric corridor around the MPR at +50 basis points and -450 basis points.
In addition, the Cash Reserve Ratio (CRR) for commercial banks was left unchanged at 45.00 per cent, while the CRR for merchant banks remains at 16.00 per cent. The committee also retained the CRR on non-Treasury Single Account (Non-TSA) public sector deposits at 75.00 per cent, with the liquidity ratio at 30.00 per cent.
The decision reflects the apex bank’s continued commitment to containing inflationary pressures through a restrictive monetary policy while safeguarding the resilience of Nigeria’s financial system amid ongoing macroeconomic adjustments.
By keeping all policy tools unchanged, the MPC signalled its intention to continue managing excess liquidity in the banking sector and maintain stability in financial markets.
The move is also expected to provide greater policy certainty for investors and businesses monitoring the country’s monetary policy direction.
The latest decision also means borrowing costs are likely to remain elevated in the near term as the central bank continues to prioritise price stability over monetary easing.
Analysts had expected the CBN committee to retain the rate after Nigeria’s headline inflation came in at 15.91 per cent as of June 2026, marking a slight decline from 15.93 per cent in May.
However, even as overall price growth has moderated significantly compared to previous periods, food inflation remains a persistent challenge, accelerating to 17.52 per cent in June.
By Aduragbemi Omiyale
Shareholders of Unilever Nigeria Plc will receive an interim dividend of N2 per share, the board of the organisation has said.
The cash reward was announced after the company released its financial statements for the first half of the year ended June 30, 2026.
The payment will be made on Friday, August 14, 2026, only to investors whose names appear on the Register of Members at the close of business on Friday, July 31, 2026.
A quick look at the financial performance of the firm in the first six months of this year showed that revenue improved by 22.22 per cent to N119.9 billion from the N98.1 billion achieved in the corresponding period of last year.
A rise in earnings also resulted in a 16.43 per cent surge in cost of sales, though this did not shrink the gross profit, which rose by 29.93 per cent to N54.7 billion from N42.1 billion. The operating profit stood at N24.4 billion in the period under review, higher than N18.8 billion in the same period of 2025, while the net finance income contracted by 9.43 per cent to N4.8 billion from N5.3 billion due to elevated borrowing costs.
Business Post reports that despite higher taxes paid in the first six months of 2026, the net profit grew by 8.33 per cent to N15.6 billion from N14.4 billion, enabling the board to pass on value to shareholders for their faith in the firm.
