Nigeria, often called the Giant of Africa, is a nation of extraordinary cultural diversity. With over 250 ethnic groups, the country’s festivals are vivid windows into its history, traditions, and communal life. From age-old spiritual rites to contemporary cultural extravaganzas, Nigerian festivals celebrate identity, community, and heritage. Here is an exclusive guide to 31 of …
Post-election protests have brought Douala, Cameroon's economic capital, to a near standstill. Shops remain shuttered, markets are empty, transport services are disrupted, and the rising cost of basic goods is squeezing households already struggling with high inflation. Economists estimate the city is losing over 10 billion CFA francs (about €15 million) daily due to business …
The International Monetary Fund (IMF) has concluded its latest mission to Senegal without finalizing a new lending programme, though discussions are still ongoing. Mission Chief Edward Gemayel confirmed that negotiations would continue in the coming weeks, noting that Senegal’s government was committed to restoring fiscal discipline after uncovering billions of dollars in unreported debt left …
For the first time in history, the U.S. Labor Department will miss releasing its key employment report for a second consecutive month, as the ongoing government shutdown stretches into its second month, the longest ever recorded. The data blackout has left economists, investors, and policymakers struggling to gauge the true state of the American economy. …
Despite a dramatic threat from US President Donald Trump to launch military action against Nigeria over alleged Christian persecution, the country’s economy remains remarkably stable, reflecting resilience amid geopolitical tensions. Data from key economic activities as monitored by Pinnacle daily highlight a robust economic outlook, showcasing the Nigerian economy’s ability to weather external challenges. Trump's …
With the successful subscription of the $2.35 billion Eurobond issuance, which was oversubscribed by $10.65 billion, Nigeria's public debt is expected to rise by $34.63 billion on average, Pinnacle Daily can report. The nation’s Debt Management Office (DMO) on Wednesday, November 5, disclosed that Nigeria had returned to the international capital market to raise a …
Bank of America (BofA) has raised its return target as part of a new strategy to close the gap with Wall Street leaders. CEO Brian Moynihan announced the plan at the bank’s first investor day since 2011, signalling a renewed push to improve performance and capture more market share. BofA now aims to deliver a …
The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have introduced tough new measures to force employers into complying with pension and insurance laws. Both regulators now require insurance companies to only work with employers that comply with pension deductions and employee life insurance contributions. In a joint circular issued on Wednesday, PenCom …
Nigeria's headline inflation is expected to decline further to 16.4 per cent owing to falling prices of foodstuffs and naira appreciation, according to research by United Capital. The pan-African financial services institution made the forecast in a report it released on Wednesday, November 5. "Nigeria’s headline inflation rate will drop to 16.30% in October 2025, …
The Nigeria National Petroleum Company Limited (NNPCL) says Nigeria’s oil output has been raised to 1.7 million barrels per day (bpd), with targets of hitting two million bpd by 2027 and three million in the long term. The company said this growth projection is driven by reforms in the oil and gas sector, which has …
