Nigeria’s economy expanded at a faster pace in the second quarter of this year, with real gross domestic product (GDP) growing by 4.43 per cent year-on-year. However, the underlying performance of the economy’s major sectors points to a slowdown in industrial activity despite stronger growth in agriculture and services. Data released on Monday by the …
PZ Cussons Nigeria Plc staged a dramatic financial recovery in the year ended May 31, 2026, returning to positive equity and a net cash position through asset sales, foreign exchange gains, a major debt waiver from its UK parent, and strong growth in its core businesses. Pinnacle Daily's analysis of the company's audited financial statements …
The Securities and Exchange Commission (SEC) has said Nigeria’s new T+1 settlement regime is operating smoothly, with no settlement default recorded over funding constraints since its implementation on June 1, 2026. The Director-General of the SEC, Dr Emomotimi Agama, disclosed this in an interview with journalists in Abuja at the weekend. Agama, who was represented …
The Nigerian Exchange (NGX) reversed the previous week’s bearish trend, with the All-Share Index (ASI) rising 0.81 per cent to 241,298.47 points as gains in banking, oil and gas and commodity stocks lifted the market. The market capitalisation also increased by 0.84 per cent to ₦155.826 trillion during the four-day trading week ended Friday, August …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to tie petrol import approvals to independently verified domestic supply gaps, warning that rising imports could undermine Nigeria’s growing refining capacity. The group, in a policy brief issued on Sunday by its Chief Executive …
Nigeria’s improving economic indicators could come under pressure in the fourth quarter of the year as rising political spending ahead of the 2027 general elections tests the gains made in foreign exchange stability, inflation and liquidity management. According to economic policy analyst Dr Felix Ijeh, Nigeria is entering the final quarter of the year with …
Nigeria’s 50 per cent telecom tariff increase has delivered a sharp improvement in revenue and profitability for the telecommunications operators, but their spending patterns show a clear difference in how the additional earnings are being deployed. A review of available financial results shows Airtel Nigeria has accelerated network investment, while MTN Nigeria has taken a …
Universal Insurance Plc has approached the Federal High Court in Lagos to challenge the purported cancellation of its operating licence by the National Insurance Commission (NAICOM) and the appointment of a receiver/manager. The company disclosed this in a statement signed by its company secretary, Chinedu Onyilimba, on Tuesday, August 25, 2026, notifying shareholders and the …
MTN Group is exploring banking licences in some of its African markets as the telecommunications giant seeks to expand its lending business and use its balance sheet to provide loans directly to customers. MTN Group chief executive officer, Ralph Mupita, disclosed this on Tuesday while speaking with journalists. He said the proposed banking model would …
Corporate Accountability and Public Participation Africa (CAPPA) has filed a Freedom of Information request with the National Assembly seeking comprehensive legislative records on the National Tobacco Control Act (Amendment) Bill, 2025, amid concerns that proposed changes could weaken Nigeria’s tobacco-control safeguards. CAPPA, in a statement on Tuesday, said its request, dated August 13 and addressed …
