Nigeria’s private sector showed signs of recovery in February 2026, but key obstacles are still slowing growth, according to the Nigerian Economic Summit Group (NESG). The group revealed this in its latest Business Confidence Monitor (BCM) report released on Wednesday, March 4. The report shows the Business Performance Index hit 117.2 points, its highest in …
Nigeria’s Value Added Tax (VAT) collections surged to ₦2.28 trillion in the third quarter of 2025, marking a 10.66 per cent increase from the previous quarter and a 28.10 per cent rise from the same period in 2024. According to a review of the National Bureau of Statistics (NBS) data released on Tuesday, the bulk …
Foreign company income tax payments outperformed domestic collections in the third quarter of 2025, driving total Company Income Tax (CIT) revenue to ₦2.96 trillion. A review of the Company Income Tax (Q3 2025) report released on Wednesday, March 4, by the National Bureau of Statistics (NBS) has shown. According to the data, of the ₦2.96 …
The Nigerian stock market has gained over ₦24 trillion from January 2, 2026, when the market opened for the year, to February 27, 2026, in the first two months of the year. In this report, Pinnacle Daily chronicles the 30 top-performing stocks that powered the strong rally on the Nigerian Exchange Limited (NGX). In the …
Nigeria’s historic $6.1 billion non-oil export performance in 2025 is under pressure as the sharp correction in global cocoa prices in 2026 exposes the risks of relying heavily on raw commodity exports, according to Dele Oye. Oye, Chairman of the Alliance for Economic Research and Ethics, said while the 2025 milestone marked a significant achievement, …
Nigeria’s net foreign exchange reserves surged by 772 per cent to $34.80 billion at the end of 2025, up from $3.99 billion recorded at the end of 2023, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said. The sharp rise signals what the apex bank described as a major strengthening of the …
Champion Breweries Plc took on ₦59.03 billion in new borrowings in 2025 to finance the ₦60.3 billion acquisition of the Bullet brand assets and other capital projects. This borrowing sharply increased its debt profile and pushed its gearing ratio to 89 per cent, Pinnacle Daily analysis of the company’s audited 2025 financial statement released on …
MTN Nigeria Communications Plc grew its revenue to ₦5.20 trillion in 2025, driven largely by the 50 per cent tariff adjustment approved by the Nigerian Communications Commission (NCC), Pinnacle Daily can report. A review of MTN Nigeria’s 2025 audited financial report shows that the tariff increase implemented across its service offerings was a primary driver …
Nigeria’s stock market delivered one of its strongest monthly performances in recent history in February 2026, with investors gaining ₦17.61 trillion in February. Energy and industrial stocks drove the broad-based rally despite intermittent profit-taking. Pinnacle Daily review of data from the Nigerian Exchange Limited (NGX) showed that the benchmark All-Share Index (ASI) advanced by 16.60 …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that while the escalating conflict involving Iran, the United States and Israel could boost Nigeria’s oil revenues, it also poses serious inflation, exchange rate and capital flow risks for the economy. In a policy brief released on Sunday, March 1, the CPPE Chief Executive …
