Nigeria’s economic activity slipped into contraction in April 2026, as rising global tensions and weakening demand slowed business performance across key sectors, according to the Central Bank of Nigeria (CBN). The CBN's latest Purchasing Managers’ Index (PMI) report showed the composite index fell to 49.4 points, dropping below the 50-point mark that separates growth from …
As Nigeria marks International Workers’ Day 2026, Corporate Accountability and Public Participation Africa (CAPPA) has warned that worsening living conditions are pushing workers to the brink, calling on governments at all levels to take urgent and practical steps to address the crisis. In a statement issued Thursday, CAPPA said this year’s May Day comes at …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that increasing salaries alone will not improve the welfare of Nigerian workers, urging the government to focus on reducing the cost of living and fixing basic services. In a policy brief issued Thursday, CPPE Chief Executive Officer, Dr Muda Yusuf, said the current focus …
Shareholders of Guaranty Trust Holding Company Plc (GTCO) have praised the bank’s management for delivering what they described as the highest dividend payout in Nigeria’s banking sector for the 2025 financial year, as the group declared a total of ₦12.76 per share. At the company’s 5th Annual General Meeting (AGM) on Tuesday, investors commended the …
The Alliance for Economic Research and Ethics Ltd/Gte has faulted the Federal Government’s ₦1 billion Micro, Small, and Medium Enterprises (MSME) awards scheme, describing it as a “lottery dressed as policy” that will do little to solve the real problems facing small businesses in Nigeria. In a statement released on Monday, April 27, the group …
The Federal Government has unveiled a set of financing and procurement reforms aimed at breaking long-standing barriers limiting the growth of women-owned businesses in Nigeria, particularly access to credit, markets, and long-term capital. Speaking at the grand finale of the “Give to Gain” Summit in Abuja to mark the 2026 International Women’s Month, the Minister …
United Bank for Africa (UBA) Plc delivered a sharply weaker financial performance in 2025, as foreign exchange losses, rising loan impairments, and mounting legal risks combined to erode profit and force a steep cut in shareholder returns. Pinnacle Daily analysis of the bank’s audited results shows that profit before tax for the group fell by …
The Nigerian stock market is currently heavily controlled by a small group of companies, with just 26 firms, including MTN Nigeria Communications and Dangote Cement, accounting for over 90 per cent of the total value of the Nigerian Exchange (NGX) market capitalisation. Pinnacle Daily analysis of market data from the NGX price list for April …
The Centre for the Promotion of Private Enterprise (CPPE) has welcomed President Bola Ahmed Tinubu’s approval of a 30 per cent discount on airlines’ outstanding debts but warned that the move falls short of addressing the deeper crisis in Nigeria’s aviation sector. In a statement issued on April 26, 2026, CPPE Chief Executive Officer, Dr …
The Central Bank of Nigeria (CBN) has introduced a new banking policy framework that raises the cost of ATM card issuance while cutting a wide range of other charges, in a move aimed at making financial services cheaper, clearer, and more accessible. It made this known in a circular signed by the Director of Financial …
