The Alliance for Economic Research and Ethics has criticised the Presidency's 'Nigeria's Energy Sector Reforms: A Three-Year Review (2023–2026)' report, describing the document as a political communication exercise that overstates progress while overlooking major challenges facing the country's energy sector. In a statement titled 'A House Built on Sand: The Illusion of Progress in Nigeria's …
Three years into President Bola Tinubu’s administration, Nigeria’s economy tells a story of sharp reforms, painful adjustments and an unfinished struggle to convert macroeconomic stability into broader prosperity. Since taking office in May 2023, Tinubu’s government has pursued two defining economic reforms — fuel subsidy removal and exchange rate unification — aimed at stabilising public …
Nigeria’s economy will grow by 3.93 per cent in the second quarter of 2026, CardinalStone Research has projected. The projection will be supported by stronger oil production and the resilience of the non-oil sector despite rising global geopolitical tensions. In its latest review of Nigeria’s Q1 2026 gross domestic product (GDP) report, the research firm …
European Central Bank President and former International Monetary Fund (IMF) chief Christine Lagarde on Thursday warned that central banks worldwide must protect their independence as political and economic pressures grow. Speaking at a conference in Phnom Penh, Cambodia, Lagarde said governments, economic shocks and declining public trust were increasingly testing central banks, according to an …
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, says Nigeria’s next phase of economic reform should focus on industrialisation, power sector reforms, productivity growth and export competitiveness despite signs of economic recovery in the first quarter of 2026. In a policy brief he released on Thursday …
The Russia-Ukraine war, changing political decisions in the United States and rising global tensions are reshaping how Nigerian banks manage risk. This global turmoil is pushing the banks to rethink everything from loan quality and collateral values to cybersecurity and liquidity planning, Pinnacle Daily can report. A review of 2025 audited financial reports of 11 …
Fidelity Bank Plc posted a sharp increase in impairment charges on financial assets in the first quarter (Q1) of 2026, as rising macroeconomic pressures and higher provisions for other assets weakened profitability despite strong growth in earnings and foreign exchange gains. An analysis of the bank’s financial results released on Monday shows that impairment charges …
Nigeria’s economic growth slowed in the first quarter of 2026 as gross domestic product (GDP) growth fell to 3.89 per cent from 4.07 per cent recorded in the fourth quarter of 2025. This is according to data released Monday by the National Bureau of Statistics (NBS). The latest figure, however, was higher than the 3.13 …
The National Information Technology Development Agency (NITDA) has distanced itself from CPM fund recovery claims, warning Nigerians against further payments tied to what it suggested could be fraudulent activity. In a public disclaimer issued on Monday, NITDA said it received reports that affected users of the platform were told the system had been “hacked” and …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that growing calls for unrestricted importation of petroleum products could push Nigeria towards deindustrialisation, weaken domestic industries and deepen the country’s economic dependence on imports. In a statement on Sunday signed by its Chief Executive Officer, Muda Yusuf, the group argued that Nigeria risks …
