The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has finally suspended its nationwide strike after signing a Memorandum of Understanding (MoU) with the management of Dangote Refinery and Petrochemicals on the contentious issue of workers’ unionisation. Pinnacle Daily reports that NUPENG embarked on a nationwide strike on Monday, 8 September, over an alleged attempt by …
The Nigerian naira has risen to a six-month high at the official foreign exchange (FX) market. According to data published on the Central Bank of Nigeria (CBN) website, the naira appreciated to ₦1,514.86 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Thursday, 04 September 2025, the last trading day last week before the public …
In its quest to invest in human capital development, Dream Rite, a non-profit organisation, has empowered over 3,000 young Nigerians through the provision of scholarship opportunities in tertiary institutions across the country and mentorship programmes aimed at helping them transform their lives and secure their future. Registered in both the United States and Nigeria, the …
The Petroleum Tanker Drivers (PTD) have dismissed the nationwide strike notice issued by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) over claims that the management of Dangote Refinery is preventing newly recruited drivers of its Compressed Natural Gas (CNG) powered trucks from joining labour unions. NUPENG had on Friday issued a statement announcing …
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has threatened to commence a nationwide strike from Monday, September 8, 2025, due to a dispute with the management of Dangote Refinery over its Compressed Natural Gas (CNG) truck distribution scheme. The Dangote nationwide fuel distribution scheme, which was billed to commence in August has …
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 …
