Nigeria’s export of unprocessed raw materials surged to ₦2.9 trillion in the first nine months of 2025, despite the Federal Government’s intensified push for value-added exports and local processing. Latest data from the National Bureau of Statistics (NBS) showed that raw material exports rose by 147.4 per cent from ₦1.174 trillion recorded in the corresponding …
Recently, key economic data have revealed stronger foreign exchange (FX) inflows, tighter Central Bank controls, cooling inflation, and a shift in investor positioning, all of which are reinforcing the naira’s recent gains, although oil revenue and global risk remain key threats. Analysts are beginning to say that the naira’s recent strength is starting to look …
Nigeria’s capital market contribution to Gross Domestic Product (GDP) has increased to 33 per cent from 13 per cent in April 2024, reflecting its expanding role in the economy. The growth follows a 125 per cent increase in market capitalisation, which rose to N123.93 trillion from about N55 trillion. The Director-General of the Securities and …
The US Supreme Court has ruled against President Donald Trump’s imposition of tariffs in a long-awaited ruling that will be seen as a blow for the president’s economic agenda. By 6-3 the court found that President Trump exceeded his authority by using a law reserved for national emergencies to impose tariffs. Here are 10 key takeaways from the …
Top associations of American businesses are demanding to be repaid for Donald Trump’s tariffs following Friday’s supreme court ruling. The US National Retail Federation, which represents a number of US retailers, from Walmart to small brands and manufacturers, called for “a seamless process to refund the tariffs to US importers". “The refunds will serve as an economic boost …
A Lagos-based business with 20 staff on its payroll recently lost a staff member after a brief illness. The family of the deceased staff member approached the company and asked for the payment of life assurance by the company. The company had no active policy in place and simply replied that they have no insurance …
Nigeria’s insurance sector recorded mixed fortunes in 2025 as rising claims and fluctuating loss ratios reshaped profitability across leading firms. A Pinnacle Daily review of the 2025 financial statements of 10 major insurers shows a market driven by large premium volumes, underwriting discipline, and strong investment income. While some firms successfully balanced claims obligations with …
The Federal Government has introduced a new Investment Budgeting framework to stop funding non-performing projects and boost accountability as Nigeria targets a $1 trillion economy. The Minister of State for Finance, Doris Uzoka-Anite, announced the reform during a meeting with Tayo Aduloju, Chief Executive Officer of the Nigerian Economic Summit Group. Uzoka-Anite said the government …
Niger State has taken a major step toward Nigeria’s sugar self-sufficiency drive. Following a high-level meeting at the Government House in Minna, the National Sugar Development Council (NSDC) and the Lee Group announced plans to establish a large-scale sugar production project in the state. During the meeting, Governor Umar Bago assured the delegation of full …
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has warned that slow, costly, and fragmented cross-border payment systems are limiting economic opportunities for millions, especially in developing countries. Speaking on Thursday at the G-24 Technical Group Meetings held in Abuja, Cardoso said these inefficiencies block individuals and small businesses from fully participating in …
