Wema Bank Plc may emerge as the best-performing banking stock in 2025 on the Nigerian Exchange Limited (NGX). A review of the NGX stock market data by Pinnacle Daily, from the beginning of the year to the end of November, points in this direction. It shows Wema Bank as the only bank that has crossed the …
The $5 billion Africa Energy Bank building is ready for use once the APPO and Afreximbank complete the administrative and regulatory processes, the Federal Government of Nigeria has said. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said during a recent inspection visit to the facility in Abuja. The bank has missed two …
Stakeholders in the Nigerian petroleum sector have charted a clearer roadmap for enhancing legislative oversight in the upstream. At a one-day workshop held on Monday, December 1, in Abuja, themed 'Legislative–Stakeholders Synergy for a Transparent and Accountable Upstream Petroleum Sector', stakeholders highlighted ways to ensure transparency and accountability in the Nigerian petroleum sector. It was …
Nigeria's Gross Domestic Product (GDP) grew by 3.98 per cent year-on-year in real terms in the third quarter (Q3) of 2025. The National Bureau of Statistics (NBS) revealed this in its latest data released on Monday, December 1. The report shows that GDP grew slightly relative to the 3.86 per cent recorded in the same …
Stakeholders in the Nigerian manufacturing sector have expressed concern about the move by the Senate Committee on Finance to amend the Customs and Excise Act to increase excise duty on non-alcoholic beverages. The Centre for the Promotion of Private Enterprise (CPPE) said the move is economically disruptive and inconsistent with Nigeria’s broader development and industrial policy …
The Central Bank of Nigeria (CBN) has reported that seven subsectors recorded mild contractions in economic activities in November. It revealed this in its Purchasing Managers’ Index (PMI) report for November. It stated that the composite PMI expanded to 56.4 index points in November, compared to 55.4 index points in October. A reading of the …
President Bola Ahmed Tinubu has approved the establishment of the National Tax Policy Implementation Committee (NTPIC). The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a statement on Friday, November 28. The committee will be chaired by Joseph Tegbe and overseen by the Minister of Finance and Coordinating …
The Nigerian stock market capitalisation is expected to surge to over N260 trillion in 2026, from the overall N91 trillion the market is currently valued. The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, said this on Thursday, November 27. He projected this while speaking broadly on Nigeria’s economic outlook for 2026 …
The Central Bank of Nigeria (CBN) has directed banks, payment service banks (PSBs) and other financial institutions (OFIs) to immediately withdraw all advertisements and promotional materials which do not comply with existing consumer-protection regulations and, within 30 days, submit a compliance attestation. It issued the instruction in a circular on Thursday, November 27, signed by …
Access Holdings Plc has revealed plans to raise its paid-up share capital to N27.65 billion from N26.659 billion to meet regulatory compliance before the year-end. The bank is also seeking shareholders' approval to raise an additional N40 billion, or its equivalent in foreign currency, through a private placement. The tier-1 bank announced this in a …
