Before sunrise, tens of millions of Nigerians are already making financial decisions that will shape the rest of their day. A trader prepares for the business day, a ride-hailing driver calculates fuel expenses, and a young professional checks his account balance before leaving for work.

Different lives, different ambitions, but one shared goal: building financial security in uncertain times.

That challenge has become more pressing as rising living costs continue to reshape household spending and saving habits. While many Nigerians want to save more, staying consistent remains difficult.

It is against this backdrop that OPay has launched the 7 Savings Festival, powered by OWealth, a nationwide savings initiative designed to make disciplined saving simple, rewarding, and accessible.

Running from 10 August to 27 September 2026, the 49-day campaign encourages customers to create a Target Savings plan, save consistently towards their financial goals, and enjoy an interest rate of 27% per annum, along with daily interest and the opportunity to share in a ₦77 million additional interest pool.

More than a campaign, the initiative reflects a growing shift in Nigeria’s digital financial services industry, from helping people make payments to helping them build stronger financial habits.

The Festival allows customers to create a Target Savings plan ranging from ₦77,000 to ₦777,000. Participants who save consistently towards their goals and complete their Target without making an early withdrawal enjoy 27% interest per annum, qualify for daily interest, and become eligible for a share of the ₦77 million additional interest pool.

Beyond the financial rewards, the initiative is designed to encourage a culture of consistent saving. By rewarding discipline rather than one-off deposits, OPay aims to make saving a habit that delivers long-term financial value. The campaign also reflects the growing importance of trust in digital financial services. As more Nigerians embrace digital platforms, customers increasingly want products that not only help them transact but also enable them to save and grow their money with confidence.

Built on OWealth, OPay’s digital savings solution, the Festival gives customers clear visibility into their savings goals, progress, and rewards throughout the campaign, reinforcing transparency and accountability at every stage.

Commenting on the initiative, Elizabeth Wang, Chief Commercial Officer, OPay, said:

“The OPay 7 Savings Festival reflects our commitment to helping Nigerians build stronger financial habits. By saving consistently towards their goals, customers can enjoy rewarding benefits, including an interest rate of 27% per annum, while building financial confidence on a platform they can trust.”

The 7 Savings Festival is part of OPay’s broader commitment to supporting financial well-being by making saving easier, more rewarding, and more accessible. The company believes that stronger saving habits among individuals and small businesses will contribute to more financially resilient households and a stronger economy.

How to Join

Participating in the OPay 7 Savings Festival is simple: Open or log in to the OPay app, Go to the 7 Savings Festival page, Create a Target Savings plan between ₦77,000 and ₦777,000 and Save towards your goals and enjoy 27% interest per annum, daily interest, and a share of the ₦77 million additional interest pool.

The Festival opens on 10 August 2026, while new Target Savings plans can be created until 20 September 2026. Final interest earnings and distributions from the ₦77 million additional interest pool will be made on 27 September 2026.

At its core, the OPay 7 Savings Festival is about more than higher returns. It is about helping Nigerians build stronger financial habits through consistent saving while reinforcing OPay’s commitment to delivering trusted digital financial solutions that help customers not only move money, but also grow it.

About OPay

OPay was established in 2018 as a leading fintech company in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfers, bill payments, card services, airtime and data purchases, and merchant payments, among others. Renowned for its fast and reliable network and strong security features that protect customers’ funds, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as commercial banks.

By Tony Obiechina, Abuja

The Dangote Petroleum Refinery emerged as the dominant beneficiary of Nigeria’s improved domestic crude supply in the second quarter of 2026, taking 52.

6 million barrels as the Federal Government’s Domestic Crude Supply Obligation (DCSO) recorded a 97. 4 per cent performance.

Fresh data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that domestic refineries received 53.7 million barrels of crude oil and condensate between April and June, an increase of 25.2 million barrels, or 88.4 per cent, from the 28.

5 million barrels delivered in the first quarter.

The sharp rise marks a major improvement in the implementation of the DCSO, with the Dangote refinery accounting for virtually all of the crude volumes offered to local refiners during the quarter.

According to the NUPRC, producers offered 68.1 million barrels of crude to the Dangote refinery against its requirement of 63 million barrels for the three-month period.

The refinery, however, accepted 52.6 million barrels, equivalent to about 77 per cent of the volume offered and 83.5 per cent of its stated requirement.

The 68.1 million barrels offered to Dangote represented 98 per cent of the total crude volumes offered to all domestic refineries during the quarter, underscoring the refinery’s dominant position in Nigeria’s emerging domestic crude market.

Despite receiving more than 63 million barrels in offers, Dangote took 10.4 million barrels less than its quarterly requirement. It also left about 15.5 million barrels of the crude offered to it unaccepted.

The figures highlight the distinction between crude volumes allocated or offered by producers and the quantities ultimately delivered and accepted by refiners under the DCSO framework.

The NUPRC, in a statement issued by its Head of Media and Corporate Communications, Eniola Akinkuotu, said the Q2 figures demonstrated that the domestic crude supply obligation was being actively administered and enforced.

The commission explained that it holds monthly consultations with crude producers and licensed domestic refiners before allocating specific crude volumes to producers for supply to local refineries.

However, the framework operates on a “willing buyer, willing seller” basis under the Petroleum Industry Act, meaning regulatory allocations do not automatically translate into completed transactions.

The improved Q2 performance nevertheless represents a significant turnaround from the first quarter, when domestic refineries received only 28.5 million barrels despite producers offering 68.7 million barrels.

In Q1, the NUPRC had allocated 61.9 million barrels to domestic refineries, but only about 46 per cent of the allocation was eventually delivered.

By Q2, actual deliveries had risen to 53.7 million barrels against an allocation of 55.1 million barrels, translating to 97.4 per cent performance.

While the volume allocated in Q2 was 6.8 million barrels, or 11 per cent, lower than the 61.9 million barrels allocated in Q1, producers offered slightly more crude. Their offers increased from 68.7 million barrels in Q1 to 69.3 million barrels in Q2.

The major improvement therefore came from the conversion of crude offers into actual physical deliveries.

In Q1, only about 41.5 per cent of the 68.7 million barrels offered by producers reached domestic refineries. In Q2, approximately 77.5 per cent of the 69.3 million barrels offered were actually supplied.

The NUPRC linked the improvement to increased crude oil production and the emergence of longer-term supply arrangements backed by bankable sales and purchase agreements between producers and domestic refiners.

The monthly figures showed significant fluctuations.

In April, producers were allocated 18.13 million barrels but offered 19.31 million barrels. Actual deliveries rose to 20.88 million barrels, representing 114.9 per cent performance against the allocation.

May recorded a weaker outcome. Although producers were allocated 18.78 million barrels and offered 23.19 million barrels, only 14.23 million barrels were supplied to local refiners, representing 75.8 per cent compliance.

Performance rebounded in June, when producers were allocated 18.17 million barrels and offered 26.84 million barrels. Domestic refiners eventually took 18.61 million barrels, representing 102.4 per cent performance.

For Dangote, the improved crude supply environment is particularly significant.

The 700,000-barrels-per-day refinery requires substantial and consistent feedstock to operate at high utilisation as Nigeria seeks to expand domestic refining and reduce its dependence on imported petroleum products.

The Q2 figures show that producers were able to offer crude volumes significantly above Dangote’s requirement. However, the difference between the 68.1 million barrels offered and the 52.6 million barrels accepted also shows that supply commitments do not necessarily translate into equivalent refinery intake.

The development comes against the backdrop of challenges that affected domestic crude supply in the first quarter.

The NUPRC had previously attributed much of the Q1 shortfall to pricing differences between crude producers and domestic refiners, stressing that the DCSO operates within the commercial principles of a willing buyer and willing seller.

By Q2, the commission said, the situation had improved as higher crude production and longer-term agreements helped narrow the gap between supply offers and actual deliveries.

“The Commission observed that the improvement in DCSO coincided with an increase in local oil production and the signing of the long-term crude supply agreement supported by a bankable Sales and Purchase agreement between the Producers and Domestic refiners,” the NUPRC said.

The stronger domestic crude supply is crucial to the success of Nigeria’s refining ambitions, particularly with the Dangote refinery positioned as the country’s largest domestic crude consumer.

For the Federal Government, sustained improvement in crude deliveries will be essential if Nigeria is to match its growing refining capacity with adequate local feedstock and reduce its reliance on imported refined petroleum products.

For Dangote, the Q2 data point to a considerably improved crude supply environment, but they also highlight the continuing challenge of converting producer offers into sufficient and consistent refinery intake.

The NUPRC said it would continue enforcing the DCSO while working to sustain growth in crude oil production and support the government’s objective of achieving greater energy sufficiency.The second-quarter figures therefore represent a major improvement for Nigeria’s domestic refining sector, with Dangote taking 52.6 million barrels and accounting for the overwhelming majority of crude offered to local refineries.

From Ayinde Akintade, Osogbo

The race for the Osun State governorship has intensified ahead of Saturday’s election, as the African Democratic Congress (ADC) rallied voters behind its candidate, Najeem Salam, while organised labour called for a peaceful, free and credible poll devoid of intimidation.

Former Vice-President and ADC presidential candidate, Alhaji Atiku Abubakar, and the party’s National Chairman, Senator David Mark, led the ADC campaign grand rally in Osogbo on Monday, urging the electorate to turn out in large numbers and vote for the party.

Atiku, recalling his previous political engagements with the people of Osun, expressed confidence that the large turnout at the rally signalled growing support for the ADC.

He said the people of the state had supported him during his previous campaigns, including his presidential bid and his campaign for incumbent Governor Ademola Adeleke, stressing that he would not forget their loyalty.

Mark, who described the gathering as a prelude to the party’s victory, urged voters to protect their ballots and resist any attempt to manipulate the outcome of the election.

He declared that the party would return to Osun in November to celebrate the swearing-in of Salam as governor.

Former Osun governor and ADC National Secretary, Ogbeni Rauf Aregbesola, presented the party as the vehicle for restoring the state’s progressive tradition, promising renewed investment in education, healthcare, youth employment, agriculture and social welfare.

Aregbesola said an ADC government would revive the O’MEALS school-feeding programme and reintroduce O’YES, with a target of employing 20,000 youths. He also promised expanded mechanised agriculture, rural infrastructure and technology-driven development.

Salam, the ADC governorship candidate, reinforced the party’s campaign promises, pledging to create jobs for 20,000 youths within his first 100 days if elected.

He also promised stable electricity, free primary and secondary education and a review of tuition fees in the state’s higher institutions, while warning against any attempt to rig the election.

Meanwhile, organised labour in Osun has entered the electoral debate, with the Chairman of the Nigeria Labour Congress (NLC) in the state, Christopher Arapasopo, calling on civil servants and pensioners to exercise their franchise without fear.

At a joint congress of the NLC and Trade Union Congress at the entrance of the Osun Government Secretariat, Abere, Arapasopo said labour had been monitoring developments ahead of the election and would resist attempts to intimidate workers or other citizens.

He also defended the recent payment of N20,000 to civil servants, saying the payment followed a request by organised labour for palliatives to cushion the impact of economic hardship on workers and pensioners.

According to him, labour had initially requested N20,000 for each worker and pensioner, after which an agreement was reached with the state government for N10,000 payments, with June and July payments subsequently made.

Arapasopo dismissed allegations that the payment constituted vote-buying, saying the initiative originated from labour’s request for assistance to workers and pensioners.

He appealed to political parties, security agencies and the Federal Government to ensure that Saturday’s election does not degenerate into violence or intimidation.

“The governorship election should not be war,” he said, urging workers and citizens to vote for candidates of their choice without harassment.

He further called on the police to remain impartial and protect citizens, while appealing to the international community to closely monitor the election.

The Independent National Electoral Commission (INEC) has cleared 14 political parties to participate in the August 15 governorship election, setting the stage for a closely watched contest in the state.