The Federal Inland Revenue Service (FIRS) has dismissed claims that Nigerians must present a separate Tax Identification Number (TIN) to open or operate bank accounts. Arabinrin Aderonke Atoyebi, technical assistant on broadcast media to the FIRS chairman, Zacch Adedeji, said Nigeria’s tax framework now integrates with existing national registries. This approach, she explained, makes individuals …
The Centre for the Promotion of Private Enterprise (CPPE) has called for a phased implementation of the shea nut ban to safeguard investors' confidence. Its managing director/chief executive officer, Muda Yusuf, made the call in a statement on Sunday, September 14. "This brief argues for a phased, consultative transition framework to safeguard investor confidence, preserve …
Nigeria spent ₦4.13 trillion on the importation of Premium Motor Spirit (PMS), commonly known as petrol, in the first half of 2025. This is according to data released by the National Bureau of Statistics (NBS). According to the NBS data, Nigeria spent ₦1.76 trillion on the importation of Motor Spirit Ordinary (fuel) in the first …
The Federal Competition and Consumer Protection Commission (FCCPC) recovered over N10 billion for consumers after complaints against banks, fintechs, and other sectors. Ondaje Ijagwu, Director of Corporate Affairs, disclosed this on Thursday. The data covers complaints lodged between March and August 2025 via FCCPC complaint platforms. The top ten sectors by complaint volume were: Banking: …
Nigeria recorded a ₦7.46 trillion trade surplus in the second quarter (Q2) of the year, according to the National Bureau of Statistics (NBS). It revealed this in its latest foreign trade report released on Friday, September 12. The report shows that Nigeria’s total export of ₦22.75 trillion was higher than its imports of ₦15.28 trillion, …
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 …
Nigeria’s rebased gross domestic product (GDP) will require 21.95 per cent growth at an N1,500 per dollar exchange rate to achieve a $1 trillion economy target by 2031. Afrinvest West Africa Limited predicted this in its 20th Nigeria Banking Sector Report 2025, entitled ‘ACT-BOLD: Beyond a Trillion Dollar Economy’, released recently in Lagos. In a …
Solana’s $SOL token has jumped to $237, beating Binance Coin (BNB) to claim the fifth-largest spot among cryptocurrencies, with its market value now standing at $126 billion. This impressive rise highlights Solana’s growing power, driven by big investors, fresh network upgrades, and its leadership in decentralised finance (DeFi) and real-world assets (RWAs). With Bitcoin soaring …
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), …
The National Union of Petroleum and Natural Gas Workers (NUPENG) has accused the Dangote Group of violating the agreement between the two parties brokered by the Federal Government on Tuesday. Pinnacle Daily had reported that NUPENG and Dangote Group signed a Memorandum of Understanding (MoU) allowing newly employed drivers of the Dangote refinery’s CNG trucks to …
