BudgIT Nigeria has raised fresh concerns over transparency and accountability in the proposed 2026 federal budget, warning that vague project descriptions and structural weaknesses could undermine legislative oversight and fiscal credibility. In a memo submitted to the National Assembly, the civic technology organisation said the lack of detailed explanations for several major budget line items …
Nigeria’s economy faces a mix of gains and pressures from the ongoing conflict between the United States, Israel and Iran, with higher global energy prices expected to strengthen government finances even as inflation risks intensify. In a report released on Thursday, March 5, CardinalStone Research said the war, which began on February 28, 2026, has …
MultiChoice has announced plans to shut down its streaming platform. Showmax after eleven years of operation. It revealed the decision in an email sent to subscribers on Thursday, hinting that the service is to be discontinued following a strategic review. “We’re writing to inform you of an important update regarding Showmax,” the streaming platform said …
The Central Bank of Nigeria (CBN) said it has taken delivery of responsibly sourced London Bullion Market Association (LBMA) Good Delivery-standard gold into its foreign reserves. The move, which is aimed at strengthening reserve diversification and macroeconomic stability, has raised its total gold holdings to $3.5 billion. According to the apex bank in a statement …
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 …
