United Capital Research (UCR) has predicted that Nigeria’s headline inflation rate will drop to 20.83 per cent in August 2025, down from 21.88 per cent in July 2025. The pan-African financial services institution said its forecast is based on a combination of factors, including decreasing prices of major food items, relatively stable energy prices, especially …
Nigeria’s non-interest banks – Jaiz, TAJ and The Alternative Banks – recorded significant growth in assets in the 2024 financial year. Analysis of the banks’ full-year 2024 financial results revealed that the non-interest financial institutions recorded strong financial performance during the period. Pinnacle Daily’s analysis of the three banks’ 2024 financial reports revealed a combined …
The Lagos Chamber of Commerce and Industry (LCCI) has called on the Nigerian government to take concrete actions towards ensuring the implementation of all international partnership agreements for development of the domestic economy. The chamber made the call while reacting to recent international engagements of the Nigerian government, including the diplomatic overtures with Brazil and …
Experts have called for structural reforms to improve the lives of Nigerians and also boost the growth of Micro, Small and Medium Enterprises (MSMEs). At a pre-summit dialogue on “Driving State-led Reforms for MSME Growth”, convened recently by the Nigerian Economic Summit Group (NESG), in partnership with the Federal Ministry of Budget and Economic Planning, …
Nigeria's electricity crisis remains one of the most significant constraints on its economic development. Despite being Africa's largest economy, Nigeria struggles with chronic power shortages, with operational output hovering around 5,000 megawatts (MW) for a population of over 200 million people. The centralised model of electricity generation, transmission, and distribution has, according to experts, proven …
Group Managing Director/Chief Executive Officer of Access Holdings Plc, Innocent Ike, has assumed office today, 29 August 2025, promising to build on the legacies of late Herbert Wigwe and acting CEO, Bolaji Agbede, in the financial institution. Access Holdings had announced Ike’s appointment on Wednesday, following regulatory approval, with effect from 29 August 2025. Ike …
Guaranty Trust Holding Company Plc (GTCO) has injected ₦365.9 billion into its banking subsidiary, Guaranty Trust Bank Limited (GTBank), to comply with the Central Bank of Nigeria's (CBN) new minimum capital requirement for commercial banks with international authorization. This strategic move has pushed GTBank's share capital from ₦138.19 billion to ₦504.04 billion, surpassing the CBN's …
Agusto & Co., a pan-African credit rating agency, has projected that Nigerian banks' profit before tax (PBT) for 2025 will drop by 19.2 per cent, primarily due to higher impairment charges, reduced foreign exchange (FX) revaluation gains, and regulatory changes. The pan-African rating agency made this known in its latest banking industry report for 2025. …
By Victor Ezeja The proposed return of Petrobras to Nigeria, as discussed during President Bola Tinubu's state visit to Brazil earlier this week, is seen as a significant development with far-reaching implications for Nigeria’s oil and gas industry. This comes five years after it exited joint venture activities in the country. The deal is part of broader …
PwC Nigeria has projected Nigeria's Gross Domestic Product (GDP) to grow by 3.4 per cent in 2025, building on the 2.7 per cent growth recorded in 2024. This growth is primarily supported by higher crude oil production and strengthened performance in key sectors, including finance & insurance, ICT, construction, and real estate. Nigeria's recent GDP …
