The President and Chief Executive Officer of MTN Group, Ralph Mupita, has warned that growing Afrophobic sentiments across Africa pose a serious threat to youth empowerment, economic integration and the continent’s long-term development goals. Mupita issued the warning ahead of the Kgalema Motlanthe Foundation dialogues, amid growing social media campaigns targeting multinational companies following recent …
Dangote Petroleum Refinery has further reduced its ex-depot price for Premium Motor Spirit (PMS), also known as petrol, from ₦1,250 to ₦1,175 per litre. The latest reduction, which reflects a ₦75 per litre cut, takes effect from June 16, 2026. This comes on the heels of the recent decline in crude oil prices …
The planned listing of Dangote Petroleum Refinery on the Nigerian Exchange Limited (NGX) has been touted as one of the most significant developments in the history of Nigeria's capital market. The refinery, valued at between $39 billion and $50 billion by various estimates, is expected to add tens of trillions of naira to the market …
The first quarter (Q1) of 2026 offered the first major test of the Nigeria Tax Act 2025, and the results show a clear pattern across many sectors of the economy, Pinnacle Daily can report. An analysis of financial statements of banks, insurers, agribusiness firms, cement manufacturers, and telecommunications companies shows that companies paid significantly more …
The Alliance for Economic Research and Ethics has called on President Bola Tinubu to withhold assent to the recently passed Factoring, Assignments and Receivables Financing Bill, 2026. In a statement on Thursday, June 11, the group warned that the legislation could create regulatory confusion, increase compliance costs and complicate financing arrangements already covered by existing laws. …
Mortgage and financial stocks led gains on the Nigerian Exchange (NGX) in the week ended June 11, 2026. The performance helped to lift market capitalisation to nearly ₦157 trillion despite losses in several heavyweight consumer and industrial stocks. As a result, the NGX All-Share Index (ASI) rose by 0.88 per cent to close at 244,738.74 …
The Nigeria Revenue Service (NRS) has launched a new digital tax administration platform, Rev360, as part of efforts to identify tax evaders. It is also to enable it to strengthen compliance and modernise revenue collection across the country. Speaking at the unveiling in Abuja on Wednesday, the Executive Chairman of the NRS, Zacch Adedeji, described …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the House of Representatives to reject the Sugar-Sweetened Beverage (SSB) Tax Bill recently passed by the Senate. The group said the proposed legislation could hurt manufacturing, discourage investment, and put jobs at risk. The call comes as pressure mounts on the lower chamber …
The Group Chief Executive of FCMB Group, Mr. Ladi Balogun, has described the Ojude Oba Festival as more than a cultural celebration, saying it has evolved into a major platform for economic activity, tourism promotion and community development in Ijebuland. Balogun stated this in a goodwill message at the 2026 Ojude Oba Festival held in …
DataPro has identified credit ratings as a critical tool for restoring investors' confidence and unlocking long-term financing in Nigeria’s struggling power sector. The Nigerian technology-driven Credit Rating Agency stated this in its latest Monthly Rating Brief for June, warning that persistent liquidity shortages, mounting debts and weak cash flows continue to undermine the industry’s sustainability. …
