Nigeria’s Gross Domestic Product (GDP) grew by 4.07 per cent year-on-year in real terms in the fourth quarter (Q4) of 2025. This is according to the latest data released by the National Bureau of Statistics (NBS). The growth marked an improvement from the 3.76 per cent recorded in the same period of 2024 and the …
Seplat Energy’s revenue and operations expanded sharply following its acquisition of Mobil Producing Nigeria Unlimited (MPNU), Pinnacle Daily can report. A review of the company’s audited results for the year ended December 31, 2025, shows that with the addition of the offshore assets bought from ExxonMobil, Seplat’s revenue rose by 144 per cent to $2.73 …
Lafarge Africa Plc has cleared all its debts and ended 2025 with more cash than liabilities, marking a major turnaround in its financial position. A review of the cement maker's audited financial statement for the year ended December 31, 2025, by Pinnacle Daily shows that Lafarge Africa reduced its total loans and borrowings from ₦210.7 …
The Lagos Chamber of Commerce and Industry (LCCI) has called for sustained efforts to remove impediments in Nigeria’s business environment and attract foreign direct investment (FDI) into critical sectors of the economy. The demand came following the Central Bank of Nigeria's (CBN) recent reduction of the benchmark interest rate. In a statement, the Chamber’s Director …
President Bola Ahmed Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, reinforcing the Federal Government’s push to deepen local processing and strengthen value addition in the agricultural sector. The extension, which takes effect from February 26, 2026, to February 25, 2027, was announced on Wednesday by the …
The Lagos State Internal Revenue Service (LIRS) has advised all individual taxpayers in Lagos State to file their annual tax returns for the 2026 year of assessment on or before March 31, 2026. The tax authority appealed in a statement issued by its Head of Corporate Communications, Monsurat Amasa-Oyelude, on Wednesday, February 25. It stated …
The Alliance for Economic Research and Ethics (AERE) has warned that the naira’s rebound could falter if rising debt and weak fiscal discipline persist. It raised the concern in a statement issued on Wednesday, February 25 and signed by its chairman, Dele Kelvin Oye. The group said that while the naira’s recovery from over ₦1,600 to …
The National Pension Commission (PenCom) has directed all Licensed Pension Fund Administrators (PFAs) to immediately categorise contributions under the Personal Pension Plan (PPP), warning that failure to comply will attract regulatory sanctions. It made this known in a circular dated February 24 and signed by the Commission’s Director of the Surveillance Department, A. M. Saleem. …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Central Bank of Nigeria (CBN) to address structural bottlenecks in the financial system and push for stronger fiscal discipline to ensure that the benefits of its latest monetary easing are fully realised. The centre's position follows the decision of the CBN's Monetary …
The Central Bank of Nigeria (CBN) said 20 banks have fully met the new minimum capital requirements, with just one month to the March 2026 recapitalisation deadline. CBN Governor Olayemi Cardoso disclosed this on Tuesday during a briefing at the end of the two-day Monetary Policy Committee (MPC) meeting. He said the committee acknowledged the …
