Nigeria’s economy expanded at a faster pace in the second quarter of this year, with real gross domestic product (GDP) growing by 4.43 per cent year-on-year. However, the underlying performance of the economy’s major sectors points to a slowdown in industrial activity despite stronger growth in agriculture and services. Data released on Monday by the …
When former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, on August 19, 2026, pledged to restore the petrol subsidy if elected president in 2027, his declaration immediately reignited a national political and economic debate, with stakeholders divided over whether the policy would ease Nigerians’ economic hardship or reverse reforms already undertaken …
Nigeria’s improving economic indicators could come under pressure in the fourth quarter of the year as rising political spending ahead of the 2027 general elections tests the gains made in foreign exchange stability, inflation and liquidity management. According to economic policy analyst Dr Felix Ijeh, Nigeria is entering the final quarter of the year with …
President Bola Tinubu has endorsed the $3.1 billion African Continental Free Trade Area (AfCFTA), Customs Modernisation Project, describing it as a transformative initiative capable of accelerating economic growth and trade across Africa. Tinubu gave the endorsement during a meeting with Saleh Ahmadu, a trade, revenue and security strategist whose company, Bergmans Security Consultants and Supplies …
The United States has warned that disruptions to shipping through the Strait of Hormuz could worsen food insecurity in Nigeria and other parts of sub-Saharan Africa by triggering fertilizer shortages and higher energy costs. Speaking at a United Nations Security Council Open Debate on Food Insecurity in New York, Amb. Jennifer Locetta, Alternative Representative for …
The Centre for the Promotion of Private Enterprise (CPPE) and the Alliance for Economic Research and Ethics have broadly acknowledged the gains recorded by the Federal Government under its economic reform programme, but both groups said the scorecard presented by Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, should not be judged only …
The proposed return of Nigeria’s petrol subsidy regime could recreate the economic distortions that the policy was meant to eliminate, Dr Kazeem Bello, a global financial analyst and principal manager/CEO of Afrique Capital and Equity Funds Limited, has warned. He shared his thoughts with Pinnacle Daily in response to a pledge by the African Democratic …
The Nigerian Economic Summit Group (NESG) has projected that Nigeria’s inflation will remain elevated in the second half of 2026, averaging 15.5 percent for the period and the full year. The projection is contained in the NESG’s 2026 outlook report, titled “Turning Potential into Progress.” According to the group, persistent insecurity in major farming communities, …
President Bola Tinubu has approved seven road projects and a trailer park concession valued at more than N438 billion across several states. The Minister of State for Works, Bello Goronyo, disclosed this on Wednesday after the Federal Executive Council meeting presided over by Tinubu at the Presidential Villa, Abuja. The approved projects cover Ekiti, Ogun, …
The Federal Government’s three-year reform scorecard shows that more than half of the ₦20.4 trillion in incremental resources available to the government between June 2023 and December 2025 came from borrowing, raising questions about how much of the fiscal improvement was driven by reforms and how much depended on additional debt. The disclosure is one …
