Shell’s fourth-quarter net profit fell by 11% to $3.3 billion, missing analyst expectations of $3.5 billion, the lowest since early 2021, as weaker oil prices weighed on earnings. Losses in its chemicals and products unit were larger than expected, while integrated gas and marketing profits also lagged forecasts. Despite the shortfall, the company maintained its …
Nigeria’s leading agro-industrial companies, Presco Plc and Okomu Oil Palm Company Plc, ended the 2025 financial year with record earnings. This underscores the resilience of the oil palm sector despite a challenging operating environment. A review of the companies’ unaudited financial statements shows that both producers delivered strong revenue and profit growth in 2025, supported …
The Pension Fund Operators Association of Nigeria (PenOp) has urged Retirement Savings Account (RSA) holders to update their records following the launch of the data recapture portal. The association made the call in a statement seen by Pinnacle Daily on Wednesday. It stated, "Pension Fund Administrators (PFAs) have commenced the rollout of PENCAP, the Data …
Nigerian stock market closed January 2026 on a strong note, as gains in 20 key stocks, spanning heavyweight blue chips and smaller, high-volatility names, combined to lift overall market performance on the Nigerian Exchange Limited (NGX). A review of stock market data for January shows price appreciation in 10 high-cap and 10 cherry-picking stocks that …
Africa Finance Corporation (AFC) said it acted as co-financial adviser on the successful issuance of the inaugural tranche of bonds under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The corporation disclosed this in a statement issued on Tuesday, February 3. According to AFC, the first tranche of the bond, valued …
Conoil Plc posted a steep drop in profit in 2025 as rising borrowing costs, liquidity pressure, and mounting debt erased gains from a larger asset base. A review of its unaudited financial statement for the year ended December 31, 2025 revealed that the company’s profit before tax plunged by 77 per cent to ₦2.53 billion …
For years, Nigeria’s economic debates have revolved around oil prices, exchange rates and inflation. Yet beneath these top issues lies a quieter system that determines whether food reaches markets, medicines reach hospitals, and factories remain open- the supply chain. A new report by Rome Business School Nigeria (RBSN) argues that Nigeria’s weak and fragmented supply …
The Nigeria Governors’ Forum (NGF) has agreed to prioritise sugar as a key product for industrial growth in states across the country. The Forum also resolved to include sugar projects as key beneficiaries in its engagements with development partners within and outside Nigeria. The move aims to boost agro-industrial development and reduce the country’s reliance …
The National Pension Commission (PenCom) has launched a self-service online data recapture application known as the Data Recapture Self-Service Platform (PENCAP). It unveiled the platform on Sunday, February 1, according to a statement from the Commission. The platform will enable Retirement Savings Account (RSA) holders to remotely update their personal records (recapture) without necessarily visiting …
Oando Plc posted a significantly higher income tax credit of ₦226.1 billion in 2025 from ₦163.7 billion the previous year, amid concerns over the company's weaker operations and financial position. A review of its 2025 audited financial statement released on Sunday, February 1, shows that the tax credit boosted Oando’s profit for the year, despite …
