The Alliance for Economic Research and Ethics Ltd/Gte has faulted the Federal Government’s ₦1 billion Micro, Small, and Medium Enterprises (MSME) awards scheme, describing it as a “lottery dressed as policy” that will do little to solve the real problems facing small businesses in Nigeria. In a statement released on Monday, April 27, the group …
The Federal Government has unveiled a set of financing and procurement reforms aimed at breaking long-standing barriers limiting the growth of women-owned businesses in Nigeria, particularly access to credit, markets, and long-term capital. Speaking at the grand finale of the “Give to Gain” Summit in Abuja to mark the 2026 International Women’s Month, the Minister …
The Nigerian stock market is currently heavily controlled by a small group of companies, with just 26 firms, including MTN Nigeria Communications and Dangote Cement, accounting for over 90 per cent of the total value of the Nigerian Exchange (NGX) market capitalisation. Pinnacle Daily analysis of market data from the NGX price list for April …
The Centre for the Promotion of Private Enterprise (CPPE) has welcomed President Bola Ahmed Tinubu’s approval of a 30 per cent discount on airlines’ outstanding debts but warned that the move falls short of addressing the deeper crisis in Nigeria’s aviation sector. In a statement issued on April 26, 2026, CPPE Chief Executive Officer, Dr …
The Federal Government has renewed its push to reposition Nigeria’s sugar industry, with the Minister of State for Industry, Senator John Owan Enoh, calling for the full operational take-off of the Nigeria Sugar Institute (NSI) in Ilorin, Kwara State, as a key driver of industrialisation and local sugar production. Senator Enoh made the appeal during …
The Sea Empowerment & Research Center (SEREC) has warned that Nigeria’s maritime sector risks losing a significant share of cargo to neighbouring countries due to persistent inefficiencies at its ports. In a policy advisory titled “Maritime Reform at a Crossroads: Data Signals, Export Concerns, and the Urgent Need for Execution Discipline,” SEREC reviewed trends from …
Nigeria’s top business leaders are set for an unprecedented surge in dividend income as stronger corporate earnings and higher payout ratios lift returns to shareholders, with Aliko Dangote and Abdul Samad Rabiu dominating the rankings by a wide margin. A review of audited financial statements across major listed companies shows that Dangote and Rabiu alone …
Foreign-owned fast-moving consumer goods (FMCGs) companies in Nigeria are facing growing financial pressure as rising finance costs, heavy dollar debt, and dependence on parent company funding continue to weigh on their operations and shareholder value, a review of their 2025 audited accounts shows. While some companies recorded a return to profitability, the underlying numbers reveal …
The Nigerian National Petroleum Company Limited (NNPC) saw its profit after tax drop by 64.67 per cent to ₦136 billion in February 2026, down from ₦385 billion in January, despite a 4.2 revenue increase to ₦2.68 trillion. The sharp profit decline came as crude oil and condensate production fell to 1.51 million barrels per day …
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the final phase of winding down 89 defunct Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) across the country, following their acquisition by new operators under its resolution framework. The move comes after the Central Bank of Nigeria (CBN) revoked the licences of 179 microfinance banks and …
