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 …
The Centre for the Promotion of Private Enterprise (CPPE) has said that the recent announcement of the prerogative of mercy to certain beneficiaries, if not reviewed and rationalised, could have far-reaching implications on investments and the Nigerian economy. It expressed its concerns in a statement on Sunday, October 19, by its Managing Director/Chief Executive Officer, …
The Securities and Exchange Commission (SEC) has urged stockbrokers to uphold the highest level of professionalism and ethical conduct at all times to ensure a fair and transparent market. Director General of SEC, Emomotimi Agama, made the call at the weekend during the 29th annual conference of the Chartered Institute of Stockbrokers in Abuja. He …
With a bag of cement selling for about N10,000, blamed on the high cost of production, consumers are left to bear the ultimate burden, findings by Pinnacle Daily have revealed. Although the three giant cement companies in Nigeria, Dangote Cement, BUA Cement, and Lafarge Africa, generate their own electricity, energy costs significantly impact their operations …
Federation allocation to the federal government, states and local council areas (LCAs) declined to N2.103 trillion in September, compared to N2.22 trillion shared in August. The Federation Account Allocation Committee (FAAC) disclosed this on Friday, October 17. It said the allocation was shared at its October meeting, chaired by the Accountant General of the Federation, …
The National Association of Aircraft Pilots and Engineers (NAAPE) has denied the alleged claim by Orji Uzor Kalu that some pilots operate under the influence of illicit drugs, describing it as a "baseless claim" and demanding a public apology from the senator. It denied the accusation in a statement seen by Pinnacle Daily on Friday, …
The United Bank for Africa (UBA) Plc has unveiled a new white paper focused on driving sustainable growth and economic transformation across the continent with a target to unlock $4 trillion of domestic capital, among others. The document, 'Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth,' was unveiled on the sidelines of …
