The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the Nigerian government against introducing compulsory value-addition policies without first ensuring adequate domestic processing capacity. CPPE raised the concern in a policy brief signed by its Chief Executive Officer, Muda Yusuf, dated February 8, 2026. It said that while domestic value addition is important …
The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, has said Nigeria's economic outlook shows consumer confidence is improving. This is expected to play a key role in driving the country's economic growth in 2026. He said this on Saturday at an economic discourse tagged ‘Building with Resilience in the Nigerian Economic Environment,’ organised …
Ecobank Transnational Incorporated posted a 30 per cent rise in profit before tax to ₦1.28 trillion, supported by growth in interest income, fees and customer deposits. The pan-African lender reported this in its 2025 unaudited financial statements for the year ended December 31, 2025, released on Friday. A review of the results by Pinnacle Daily …
Nigeria’s economic activity grew for the 14th straight month in January 2026, with entertainment and agriculture leading the expansion. This is contained in the latest Purchasing Managers’ Index (PMI) report released by the Central Bank of Nigeria (CBN). The report stated the composite PMI stood at 55.7 points in January. It remained well above the …
NIPCO Plc’s ownership stake in Savannah Energy Plc has increased above the key 30 per cent threshold. This follows the completion of Savannah’s on-market share buyback programme, despite NIPCO making no additional share purchases. In a statement on Thursday, Savannah Energy announced that it had repurchased 32.1 million ordinary shares at 6.8 pence per share, …
Nigeria’s leading agro-industrial companies, Presco Plc and Okomu Oil Palm Company Plc, ended the 2025 financial year with record earnings. This underscores the resilience of the oil palm sector despite a challenging operating environment. A review of the companies’ unaudited financial statements shows that both producers delivered strong revenue and profit growth in 2025, supported …
Private sector business activity in Nigeria deteriorated in January 2026, according to the latest Purchasing Managers’ Index (PMI) released by Stanbic IBTC Bank Nigeria. The report shows that the index fell sharply to 49.7 in January, down from 53.5 in December for the first time since 2014, ending a 13-month streak of expansion and signalling …
The World Bank has described Nigeria as a global example of steady and credible reform leadership, citing the country’s consistency in implementing economic changes despite ongoing challenges. The Bank’s Managing Director of Operations, Anna Bjerde, remarked during a meeting on Tuesday with President Bola Tinubu and Vice President Kashim Shettima at the State House in …
The Pension Fund Operators Association of Nigeria (PenOp) has urged Retirement Savings Account (RSA) holders to update their records following the launch of the data recapture portal. The association made the call in a statement seen by Pinnacle Daily on Wednesday. It stated, "Pension Fund Administrators (PFAs) have commenced the rollout of PENCAP, the Data …
Nigerian stock market closed January 2026 on a strong note, as gains in 20 key stocks, spanning heavyweight blue chips and smaller, high-volatility names, combined to lift overall market performance on the Nigerian Exchange Limited (NGX). A review of stock market data for January shows price appreciation in 10 high-cap and 10 cherry-picking stocks that …
