Dangote Refinery has finally concluded plans to start its free fuel distribution scheme on Monday, 15 September 2025. This comes one month after the August 15 date, which was earlier planned to commence the scheme. Pinnacle Daily gathered that the inability of the company to commence in August was due to logistical challenges, which affected …
The BUA Foods Plc N13 per share proposed dividend has been approved by shareholders. It represents a 136 per cent increase from the N5.50 paid in 2023. The approval was given at its 4th Annual General Meeting on Thursday, September 11, in Abuja. In a statement by its Director of Marketing and Corporate Communications, Adewunmi …
Nigeria's crude oil production fell to 1.434 million barrels per day (bpd) in August 2025, down by approximately 73,000 bpd from 1.507 million bpd in July. This represents a decline of 4.84 per cent and marks the lowest production level in six months. The August production figure fell below Nigeria's allocation of 1.5 million bpd by the Organisation of Petroleum Exporting Countries (OPEC), …
Dangote Cement Plc has said that shareholders of the company received about N3.3 trillion in dividends over the past 15 years. This benefit besides the significant capital gains from the appreciation of the company’s stock. The Dangote Cement Chairman, Emmanuel Ikazoboh, hinted at this during the company’s ‘Facts Behind the Figures’ presentation at the Nigerian …
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that 80 per cent of the capital component of Nigeria’s 2024 budget has so far been released. Edun disclosed this after a closed-door session with the House of Representatives Committee on Appropriation in Abuja on Wednesday. The session, also attended by the …
Africa’s economic sovereignty is again under the spotlight following former President Olusegun Obasanjo’s warning against over-reliance on the International Monetary Fund (IMF) and World Bank. The ex-president’s comments, made at the Intra-Africa Trade Fair in Algeria, have sparked widespread debate, drawing reactions from economists, civil society actors, and ordinary Nigerians. “The World Bank is not …
The Pension Transitional Arrangement Directorate (PTAD) has received Presidential approval to include key pension initiatives in the 2026 budget proposal, aiming to improve welfare for Defined Benefit Scheme (DBS) pensioners. The approved items include: Full implementation of the N32,000 pension increment Settlement of unfunded pension liabilities Proposed pension harmonisation policy Health insurance coverage for DBS …
Ethiopia on Tuesday inaugurated the Grand Renaissance Dam, Africa’s largest hydroelectric project, aimed at boosting its economy, ending frequent blackouts, and supporting the growth of electric vehicles. The country has already banned the importation of gasoline-powered vehicles. As waters from the reservoir powered the turbines, Ethiopians dressed in colourful regalia gathered in Addis Ababa to …
The Debt Management Office (DMO) has corrected reports that claimed the Federal Government spent N611.71 billion in March 2025 servicing its domestic U.S. dollar bond. The agency said the actual figure for the bond was N67.99 billion. In a statement, the DMO explained that the N611.71 billion represented debt service for all outstanding Federal Government …
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 …
