Nigeria’s inflation rate may be slowing, but the latest figures show that households and businesses in the country’s major commercial centres are facing very different levels of price pressure. While Lagos records the highest yearly inflation, Rivers posts the fastest monthly price increase, and Kano shows the lowest yearly rate among the three despite a …
Nigeria’s headline inflation rate fell marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, as slower increases in food and other consumer prices continued to ease pressure on households. The latest National Bureau of Statistics (NBS) released on Tuesday shows that the rate also dropped sharply from 23.14 per cent …
Nigerians living abroad and eligible foreign investors may also participate in the Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise public offer, but access depends largely on meeting Nigeria’s identification and banking requirements. Pinnacle Daily reports that the refinery is offering 4.1 billion new shares at an indicative price of ₦525 each, with a minimum …
Nigeria’s return to a J.P. Morgan global bond index after 11 years could become more than a reputational boost for the country if the renewed access to international investors helps reduce the cost of government borrowing and ease its growing debt-service burden. J.P. Morgan, a leading global financial services firm, has announced the inclusion of …
Dangote Group will begin work on its proposed $17 billion oil refinery in Kenya by the end of September, as Africa’s biggest oil-refining business expands its operations from West Africa into East Africa. Aliko Dangote, President of Dangote Group, disclosed this on Monday during the opening of the initial public offering of Dangote Petroleum Refinery …
President Bola Ahmed Tinubu has urged BRICS to overhaul global governance and international financial institutions, saying emerging economies need a more representative system that reflects today’s economic and demographic realities. Tinubu made the call at the 2026 BRICS Summit in New Delhi, India, in an address delivered on his behalf by Vice President Kashim Shettima, …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that restoring universal petrol subsidy could cost the Nigerian government nearly ₦20 trillion annually, creating a bigger fiscal, debt, foreign-exchange, and investment problem for the economy. In a policy brief issued on Sunday, September 13, 2026, CPPE Chief Executive Officer Dr. Muda Yusuf said …
The African Union Commission (AUC) and the African Tax Administration Forum (ATAF) are moving to deepen cooperation on tax policy and administration This comes as African countries seek to strengthen domestic revenue mobilisation and reduce leakages from cross-border tax activities. The two institutions reaffirmed their commitment during a meeting between an ATAF delegation led by …
The Dangote Refinery’s planned initial public offering (IPO) will widen its shareholder base without significantly altering its ownership structure. As existing major shareholders will retain their holdings, the new public investors will take up a small stake in the enlarged company, Pinnacle Daily analysis shows. According to the Dangote Petroleum Refinery and Petrochemicals Free Zone …
The National Insurance Commission (NAICOM) has rejected allegations of a ₦100 billion fraudulent insurance recapitalisation exercise, saying neither its Commissioner for Insurance nor any of its directors has been indicted, charged or found culpable of fraud. The commission, in a rejoinder issued on Thursday, described a publication alleging that a NAICOM director and the Commissioner …
