Nigeria has exported the first cargo of its newly introduced Cawthorne crude grade, with approximately 950,000 barrels en route to India's Sikka port. A report by Platts, part of S&P Global Energy, said a spokesperson for the Nigerian National Petroleum Company (NNPC) Limited confirmed the development, saying the shipping was done during the weekend following regulatory approvals …
The Nigeria Sovereign Investment Authority (NSIA) has announced a record-breaking financial performance for the 2025 fiscal year, posting a Core Total Comprehensive Income of ₦478.8 billion, the highest since its establishment. The figures were unveiled on Thursday, 2nd April 2026, during the Authority’s 2025 Earnings Presentation and Media Parley held in Abuja, where top management …
DEAP Capital Management & Trust Plc (DEAPCAP) has received an additional ₦2 billion in capital injection from Banklink Africa Private Equities Limited, bringing the total funds received under a ₦6 billion funding commitment to ₦3 billion. DEAPCAP announced this in a notice sent to the Nigerian Exchange Limited (NGX) on Thursday, April 2, 2026. This …
Commercial banks in Nigeria are tilting their lending portfolios in favour of the oil and gas sector, offering more competitive credit terms to energy firms while agriculture and manufacturing continue to face relatively higher borrowing costs. Data released by the Central Bank of Nigeria (CBN) as of March 20, 2026, show that although many lenders …
Despite expanding its balance sheet and growing customer deposits, Guaranty Trust Holding Company (GTCO) saw its bottom-line profits decline sharply in 2025 compared to the previous year. Pinnacle Daily analysis of the bank's 2025 audited financial statement reveals that GTCO suffered higher tax expenses and a plunge in non-interest income, declining its profit. The bank’s …
The African Democratic Congress (ADC) has rejected the decision of the Independent National Electoral Commission (INEC) to withdraw recognition of its leadership, alleging a coordinated attempt by the federal government to destabilise the party. In a statement issued by its spokesperson, Bolaji Abdullahi, the party accused the ruling All Progressives Congress (APC) of mounting pressure …
The Independent National Electoral Commission (INEC) has withdrawn its recognition of the leadership of David Mark as National Chairman of the ADC and Rauf Aregbesola as National Secretary of the party. The electoral umpire said the withdrawal is in obedience to a Court of Appeal judgment. Before this decision, INEC had, on September 9, 2025, …
President Bola Tinubu has appointed Professor Shu’aibu Shehu Aliyu as the Executive Secretary of the Petroleum Technology Development Fund (PTDF). Professor Aliyu replaces Ahmed Galadima Aminu, who recently resigned to participate in the 2027 governorship election in Adamawa State. President Tinubu has also renewed the appointment of Engineer Sule Ahmed Abdulaziz as the Managing Director/Chief …
CPI, MRA, CJID, others, urge Tinubu to improve on media freedom ahead of the 2027 election A coalition of Nigerian and international press freedom organisations have criticised comments attributed to Nigeria’s Vice President, Kashim Shettima, claiming that no journalist has been harassed in the past three years since President Bola Tinubu assumed office. The …
When former Kano State governor and leader of the Kwankwasiyya Movement, Senator Rabiu Musa Kwankwaso, formally registered with the African Democratic Congress (ADC) on Monday at Gidan Kwankwasiyya, Miller Road, Bompai, Kano, the scene appeared to many as just another political defection. But behind the crowded ceremony lies a complex web of political calculations, personal …
