Billionaire businessman and philanthropist Tony Elumelu has reiterated his concern about building a new African economy, driven not by aid but by private sector leadership. He expressed this in a keynote speech at the Abuja Business and Investment Summit and Expo 2025 in Abuja. The event brought together policymakers, business leaders, investors, and entrepreneurs to …
Foreign investors' transactions on the Nigerian Exchange Limited (NGX) rose to N387.62 billion, hitting a six-month high in September 2025. Pinnacle Daily's review of the latest monthly NGX Domestic and Foreign Portfolio Investment Report has shown. Analysis of the report revealed that transactions executed by foreign investors were highest at N699.89 billion in March but …
Jaiz Bank Plc has received an upgraded credit rating to A- (long-term) and A1 (short-term), both with a stable outlook. Agusto & Co. Limited, Nigeria’s foremost credit rating agency, upgraded Jaiz Bank’s rating, the bank announced in a statement seen by Pinnacle Daily on Friday, October 24. Jaiz Bank, a pioneer non-interest bank, similarly received …
Vice President Kashim Shettima said the federal government has finalised plans to invest $220 million in creating employment opportunities for young Nigerians. He hinted at this plan in Abuja on Wednesday, October 22, during the formal launch of the second phase of the Nigeria Jubilee Fellows Programme (NJFP) 2.0. The NJFP 2.0 is focused on …
The Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has asked stockbrokers to do more to promote the Nigerian capital market's sustainability. He gave the charge at the 2025 Annual Conference of the Chartered Institute of Stockbrokers (CIS) in Abuja. He pointed out that stockbrokers and other market operators have a critical …
Financial Services Innovators (FSI), in partnership with Mentors Without Borders (MWB), has announced the launch of a six-month Tech Mentorship Programme at Thomas Adewunmi University (TAU) in Kwara State. The initiative aims to upskill 50 students in high-demand technology fields and enhance their global employability, FSI said in a statement on Wednesday, October 22. "Building …
The Dangote Refinery and Petrochemicals has revealed plans to sell five to 10 per cent of its stake on the Nigerian Exchange (NGX) Limited within the next year. Aliko Dangote, the founder of Dangote Group, reportedly hinted at this in an interview with S&P Global on October 20. He said the move will mirror the approach …
The Nigerian National Petroleum Company (NNPC) Limited has reported a 59.93 per cent decline in profit after tax (PAT) to N216 billion in September from N539 billion in August. The state-owned oil company disclosed this in its monthly report summary for September, released on Tuesday, October 21. According to NNPC, the PAT recorded in September …
Transcorp Hotels Plc has reported a 36 per cent rise in profit before tax (pre-tax profit) to ₦22.4 billion for the third quarter (Q3) of the year. The company revealed this in its unaudited financial statements for the third quarter ended September 30, 2025, released on Monday, October 20 to the investing public. The report …
Nigeria has been faced with the most complicated form of inflation, where all the possible types are evident at the same time, said a development economist, Ken Ife. Ife, who appeared on Channels Television’s The Morning Brief on Monday, October 20, described the current inflation pressure as a complex case of stagflation, a rare economic …
