Nigeria’s banking sector will enter 2027 with stronger capital buffers but face a tougher test of how effectively banks deploy the funds raised during the 2026 recapitalisation exercise, according to DataPro. The rating agency, in its Monthly Rating Brief for October, said the recapitalisation had structurally strengthened the banking industry but warned that the next …
Former President Olusegun Obasanjo recounted how his administration pushed Aliko Dangote to shift from importing cement to local production, saying the policy helped drive the businessman’s expansion into cement manufacturing across Africa. Obasanjo recalled that the effort began in 2003, when Nigeria had been producing cement for decades but still relied heavily on imports. In …
The Federal Government has launched a National Digital Alphanumeric Postcode System aimed at improving how businesses and public services reach communities across the country. The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, announced the launch on X on Thursday. He said the system would provide a foundation for integrating postcodes into commerce, transport, …
Nigeria’s capital market has grown from a modest market dominated by government securities at independence into a multi-trillion-naira financial ecosystem with equities market capitalisation now exceeding N163 trillion, Prof Uche Uwaleke has said. Uwaleke, Director of the Nasarawa State University Institute of Capital Market Studies and President of the Capital Market Academics of Nigeria, gave …
Deobanks could mark the next stage of financial innovation by changing the underlying infrastructure that moves money and digital value, rather than simply offering another financial application. This is the view of Maksym Sakharov, chief executive officer (CEO) and Co-Founder at WeFi.co. Sakharov made the argument in an op-ed shared with Pinnacle Daily recently, saying …
Corporate Accountability and Public Participation Africa (CAPPA) has called on the Federal Government to measure the success of its economic reforms by their impact on household incomes, living standards and economic opportunities, rather than improvements in government revenues and macroeconomic indicators. The organisation made the call on Wednesday in a statement marking Nigeria’s 66th Independence …
Nigerian businessman Aliko Dangote has said Dangote Fertiliser Ltd, the fertiliser arm of the Dangote Group, could be listed on the Nigerian Exchange Group (NGX) next year as the conglomerate expands its plans to bring more of its businesses to the public market. Dangote disclosed the plan on Tuesday at an investor meeting at the …
As Nigeria marks 66 years of independence on October 1, the Centre for the Promotion of Private Enterprise (CPPE) has called for a shift from economic stabilisation to a stronger productivity agenda that can translate recent macroeconomic gains into higher incomes, jobs and improved living standards. In a statement issued on Tuesday, September 29, CPPE …
The distribution of Federation Account Allocation Committee (FAAC) revenue in the first half of 2026 exposed a wide gap in the funds available to Nigeria’s states and local governments, with Lagos receiving about 6.5 times more than Ekiti at the state level, and the highest-funded local government receiving 8.6 times more than the lowest. FAAC …
President Bola Tinubu has said the National Credit Guarantee Company (NCGC) has helped participating financial institutions extend ₦46.95 billion in loans to businesses and other borrowers in its first year of operations. Tinubu disclosed this in a statement posted on his X handle on Monday, saying the credit guarantees were designed to address one of …
