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 …
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that 80 per cent of the capital component of Nigeria’s 2024 budget has so far been released. Edun disclosed this after a closed-door session with the House of Representatives Committee on Appropriation in Abuja on Wednesday. The session, also attended by the …
Africa’s economic sovereignty is again under the spotlight following former President Olusegun Obasanjo’s warning against over-reliance on the International Monetary Fund (IMF) and World Bank. The ex-president’s comments, made at the Intra-Africa Trade Fair in Algeria, have sparked widespread debate, drawing reactions from economists, civil society actors, and ordinary Nigerians. “The World Bank is not …
President Bola Tinubu has directed the Minister of Works, David Umahi, to reserve all Nigerian National Petroleum Company (NNPC) Limited tax credit road contracts below N20 billion exclusively for indigenous contractors. The order restricts the minister from awarding any of such projects to expatriate firms. Umahi made this known in a statement, hinting that the …
The Pension Transitional Arrangement Directorate (PTAD) has received Presidential approval to include key pension initiatives in the 2026 budget proposal, aiming to improve welfare for Defined Benefit Scheme (DBS) pensioners. The approved items include: Full implementation of the N32,000 pension increment Settlement of unfunded pension liabilities Proposed pension harmonisation policy Health insurance coverage for DBS …
Ethiopia on Tuesday inaugurated the Grand Renaissance Dam, Africa’s largest hydroelectric project, aimed at boosting its economy, ending frequent blackouts, and supporting the growth of electric vehicles. The country has already banned the importation of gasoline-powered vehicles. As waters from the reservoir powered the turbines, Ethiopians dressed in colourful regalia gathered in Addis Ababa to …
