Oil prices climbed on Wednesday after sliding to a one-month low in the previous session, though an expected supply glut and a potential Russia-Ukraine peace deal capped gains. Brent crude futures rose 27 cents, or 0.43%, to $62.75 a barrel at 0412 GMT, while U.S. West Texas Intermediate crude futures gained 24 cents, or 0.41%, …
NNPC Limited has announced its financial performance for the full year ended 2024, reporting a Profit After Tax of ₦5.4 trillion on revenue of ₦45.1 trillion. The results, shared during its earnings call with analysts, underscore a year of strong operational delivery. READ ALSO: Senate Rejects NNPCL’s Explanations on Missing N210trn Building on this performance, the Company unveiled …
The total assets of Nigeria deposit money banks (DMBs), comprising 29 commercial banks, six merchant banks, and four non-interest banks (NIBs), rose to N160 trillion ($106 billion) at the end of December 2024. The total assets of the DMBs grew by 41.31 per cent to N160.60 trillion at the end of December 2024, from …
MTN Nigeria has announced that it has paid over ₦6.9 Trillion in taxes, levies, and duty contributions. This figure solidifies the telecommunications giant's position as one of the largest corporate taxpayers and fiscal partners to the Federal and State Governments, directly funding critical sectors of the economy. The company’s role in nation-building extends beyond tax; …
By Osita Chidoka Any law enforcement officer, in uniform or plain clothes, represents the President and the sovereignty of the Nigerian state. To abuse such an officer is to diminish the authority of the Republic itself. Minister Nyesom Wike’s decision to personally enforce a directive at a disputed site was a fundamental misstep. In constitutional …
A former Chief of Army Staff, Lieutenant General Tukur Yusuf Buratai (retd.), has issued a stern warning regarding the confrontation between the Minister of the Federal Capital Territory, Nyesom Wike, and a Nigerian Navy officer in Abuja, describing it as a “clear and present danger to national security.” He called for immediate corrective measures to …
Nigeria's recent Eurobond issuance of US$2.25 billion has caught the attention of financial experts and investors alike. While the bond was oversubscribed, meaning there was strong investor demand, the coupon rate of 9.125% for the 10-year tranche and 9.625% for the 20-year tranche raises a few eyebrows. This rate appears to be on the higher …
The Nigeria Deposit Insurance Corporation (NDIC) is now better equipped to hold those responsible for bank failures accountable, thanks to stronger legal frameworks, according to its Managing Director/Chief Executive (MD/CE), Mr Thompson Oludare Sunday. In a recent meeting with the President/Chairman of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Mr Chimezie Victor …
The candidate of the All Progressives Grand Alliance and incumbent governor, Prof. Chukwuma Soludo, has been declared the winner of the Saturday, November 8, 2025, Anambra State governorship election by the Returning Officer of the Independent National Electoral Commission, Prof. Edoba Omoregie. Soludo, who polled a total of 422,664 votes, defeated his closest rival, the …
Despite a dramatic threat from US President Donald Trump to launch military action against Nigeria over alleged Christian persecution, the country’s economy remains remarkably stable, reflecting resilience amid geopolitical tensions. Data from key economic activities as monitored by Pinnacle daily highlight a robust economic outlook, showcasing the Nigerian economy’s ability to weather external challenges. Trump's …
