The Nigerian Independent System Operator (NISO) has said Wednesday’s National grid collapse was caused by a system disturbance resulting from the tripping of a Generation company. Pinnacle Daily reported that the national grid collapsed on Wednesday, resulting in a significant loss of power supply from distribution companies across the country. From about 4,500 megawatts, data …
Nigerians have experienced another round of blackout in 2025 following the significant drop in power supply from the national grid. Pinnacle Daily reports that data published on the Nigerian System Operator’s portal (niggrid.org), revealed that power available for distribution has dropped to 120 megawatts (MW) as of 01:00 pm on Wednesday. This has affected electricity …
Nigerian banks are increasingly turning to non-interest income to diversify revenue streams, enhance profitability, and mitigate risks associated with traditional interest-based models. Analysts observed that this shift is mainly driven by economic volatility, regulatory changes, and the growing adoption of digital financial services. Pinnacle Daily’s analysis of the financial statements of eight Nigerian commercial banks …
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 …
