Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called for massive investments in the oil and gas sector to reduce Africa’s spending on hydrocarbon imports. The minister made the call during his keynote speech at the opening ceremony of the 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in …
Global stock markets climbed on Monday, buoyed by renewed optimism over progress in U.S.–China trade talks, while gold and bonds fell as investors shifted toward riskier assets. Top economic officials from both countries reached a preliminary trade deal framework ahead of a meeting between Presidents Donald Trump and Xi Jinping in South Korea later this …
The U.S. Federal Reserve is expected to announce another quarter-point interest rate cut this week, its second this year as policymakers move to cushion a slowing labour market and maintain economic stability. Analysts predict the rate reduction will bring the federal funds rate to between 3.75% and 4.00%, with more cuts likely in December or …
The Malian government has shut down all schools and universities across the country following a severe fuel crisis caused by a militant blockade. Education Minister Amadou Sy Savane announced on state television Sunday that classes would be suspended for two weeks. He explained that the fuel shortage has disrupted the movement of teachers and school …
Peter Obi and others highlight benefits of decentralised ports to the Nigerian economy. The recent approval of a $1 billion investment aimed at modernising the Apapa and Tin-Can Island ports in Lagos by the Federal Government has reignited calls for decentralisation of seaport infrastructure across Nigeria. Analysts believe that developing seaports in other maritime …
The Central Bank of Nigeria (CBN) has hailed the country’s removal from the list of jurisdictions under increased monitoring, known as the "grey list”, following a successful on-site evaluation of reforms implemented across the financial system. The Financial Action Task Force’s (FATF) formally announced Nigeria’s removal from its watchlist on Friday, October 24, Pinnacle Daily …
Billionaire businessman and philanthropist Tony Elumelu has reiterated his concern about building a new African economy, driven not by aid but by private sector leadership. He expressed this in a keynote speech at the Abuja Business and Investment Summit and Expo 2025 in Abuja. The event brought together policymakers, business leaders, investors, and entrepreneurs to …
Foreign investors' transactions on the Nigerian Exchange Limited (NGX) rose to N387.62 billion, hitting a six-month high in September 2025. Pinnacle Daily's review of the latest monthly NGX Domestic and Foreign Portfolio Investment Report has shown. Analysis of the report revealed that transactions executed by foreign investors were highest at N699.89 billion in March but …
The National Social Investment Programme Agency (NSIPA) has disbursed ₦22.48 billion to low-income households in Katsina State under the Renewed Hope Conditional Cash Transfer (CCT) scheme. The payment is part of a national initiative that has already reached over 5.4 million households, delivering ₦344 billion in 2025 alone. According to the agency, the goal is …
Coca-Cola’s third-quarter results topped Wall Street expectations on Tuesday. The strong performance was driven by steady global demand for its sodas and growing sales of zero-sugar and energy drinks. The company reported revenue of $12.46 billion, above analysts’ estimates of $12.39 billion, according to LSEG data. Shares rose 2.5% in premarket trading after Coca-Cola reaffirmed …
