Fresh concerns have emerged following a new increase in the retail price of cooking gas, adding further strain on households already grappling with high living costs. Latest report released by the National Bureau of Statistics (NBS) show that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG), commonly known as cooking …
Seplat Energy’s revenue and operations expanded sharply following its acquisition of Mobil Producing Nigeria Unlimited (MPNU), Pinnacle Daily can report. A review of the company’s audited results for the year ended December 31, 2025, shows that with the addition of the offshore assets bought from ExxonMobil, Seplat’s revenue rose by 144 per cent to $2.73 …
Lafarge Africa Plc has cleared all its debts and ended 2025 with more cash than liabilities, marking a major turnaround in its financial position. A review of the cement maker's audited financial statement for the year ended December 31, 2025, by Pinnacle Daily shows that Lafarge Africa reduced its total loans and borrowings from ₦210.7 …
President Bola Ahmed Tinubu has approved a one-year extension of the ban on the export of raw shea nuts, reinforcing the Federal Government’s push to deepen local processing and strengthen value addition in the agricultural sector. The extension, which takes effect from February 26, 2026, to February 25, 2027, was announced on Wednesday by the …
The National Pension Commission (PenCom) has directed all Licensed Pension Fund Administrators (PFAs) to immediately categorise contributions under the Personal Pension Plan (PPP), warning that failure to comply will attract regulatory sanctions. It made this known in a circular dated February 24 and signed by the Commission’s Director of the Surveillance Department, A. M. Saleem. …
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 …
