The Federal High Court (FHC) in Abuja has reportedly appointed a liquidator for Dantata & Sawoe Construction Company Limited over its repeated failure to pay $1.4 million, following a settlement agreement. Justice Mohammed Umar granted the petitioner, Zutari Consulting, the request for the appointment of a liquidator in an order on Wednesday, December 3. The …
The Federal Executive Council (FEC) has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF) with a ₦34.33 trillion revenue target. The council approved the MTEF during its meeting on Wednesday, December 3, at the State House, Abuja, presided over by President Bola Tinubu. The Minister of Budget and Economic Planning, Atiku Bagudu, made this known to journalists. He …
Nigeria’s headline inflation is expected to drop to 15.48 per cent in November but to spike over 30 per cent in December. United Capital Research forecasts this in its ‘Inflation Watch’ report released on Wednesday, November 3. The anticipated moderation will be driven by a slight reduction in the prices of selected food items and …
The Central Bank of Nigeria (CBN) has limited weekly cash withdrawals for individuals to ₦500,000 and corporates to ₦5 million. It gave the directive to banks in a new revised set of rules, stating that the order will take effect from January 2026. This ends the previous special authorisation permitting individuals to withdraw ₦5 million …
Wema Bank Plc may emerge as the best-performing banking stock in 2025 on the Nigerian Exchange Limited (NGX). A review of the NGX stock market data by Pinnacle Daily, from the beginning of the year to the end of November, points in this direction. It shows Wema Bank as the only bank that has crossed the …
The $5 billion Africa Energy Bank building is ready for use once the APPO and Afreximbank complete the administrative and regulatory processes, the Federal Government of Nigeria has said. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said during a recent inspection visit to the facility in Abuja. The bank has missed two …
Stakeholders in the Nigerian petroleum sector have charted a clearer roadmap for enhancing legislative oversight in the upstream. At a one-day workshop held on Monday, December 1, in Abuja, themed 'Legislative–Stakeholders Synergy for a Transparent and Accountable Upstream Petroleum Sector', stakeholders highlighted ways to ensure transparency and accountability in the Nigerian petroleum sector. It was …
Nigeria's Gross Domestic Product (GDP) grew by 3.98 per cent year-on-year in real terms in the third quarter (Q3) of 2025. The National Bureau of Statistics (NBS) revealed this in its latest data released on Monday, December 1. The report shows that GDP grew slightly relative to the 3.86 per cent recorded in the same …
Stakeholders in the Nigerian manufacturing sector have expressed concern about the move by the Senate Committee on Finance to amend the Customs and Excise Act to increase excise duty on non-alcoholic beverages. The Centre for the Promotion of Private Enterprise (CPPE) said the move is economically disruptive and inconsistent with Nigeria’s broader development and industrial policy …
The Central Bank of Nigeria (CBN) has reported that seven subsectors recorded mild contractions in economic activities in November. It revealed this in its Purchasing Managers’ Index (PMI) report for November. It stated that the composite PMI expanded to 56.4 index points in November, compared to 55.4 index points in October. A reading of the …
