Nigeria must reduce its reliance on borrowing and strengthen its domestic revenue base to stabilise public finances and fund sustainable development, Finance Minister and Coordinating Minister of the Economy, Wale Edun, said on Tuesday. Speaking at the Nigerian Revenue Service (NRS) management retreat in Abuja, Edun warned that the global financial environment had grown increasingly …
Nigeria’s long-running struggle with corruption has once again come under global scrutiny, as the 2025 Corruption Perceptions Index (CPI) revealed persistent stagnation and deep-rooted governance failures that continue to undermine public trust, democratic accountability and economic progress. The latest CPI, released by Transparency International and localised in Nigeria by the Civil Society Legislative Advocacy Centre …
The Nigerian Senate on Tuesday approved the use of both electronic and manual methods for transmitting election results, following weeks of public anger and protests over moves to limit electronic transmission in the ongoing amendment of the Electoral Act. The resolution was reached during plenary after lawmakers reviewed recommendations intended to address concerns raised by …
The Nigeria Revenue Service (NRS) said it collected ₦28.3 trillion in revenue by the end of December 2025, marking a significant performance milestone for the agency. The figure was disclosed on Tuesday by the Executive Director in charge of Government and Large Taxpayers, Amina Kurawa, during a staff retreat organised by the service. She said …
A new report by the National Bureau of Statistics (NBS) has exposed the scale of gender inequality embedded in how time is spent across Nigerian households. The report reveals that women devote five times more hours than men to unpaid domestic and care work, a burden analysts say is constraining economic growth and distorting national income …
Nigeria’s headline inflation is projected to rise to 16.73 per cent in January 2026, marking what analysts expect to be the highest level this year before a steady decline toward single digits. The forecast, released by United Capital Research on Monday, represents an increase from 15.15 per cent recorded in December 2025 by the National …
The 2025 financial year was marked by cautious lending across the banking sector, despite the Central Bank of Nigeria’s (CBN) decision to reduce the Loan-to-Deposit Ratio (LDR) requirement to 50 per cent. A Pinnacle Daily review of the financial results of major banks shows that while some lenders maintained loans slightly above the regulatory minimum, …
The Bank of Industry (BoI) has secured regulatory approval from the Central Bank of Nigeria (CBN) to operate a Non-Interest Banking (NIB) Window, a move that marks a major milestone in the bank’s growth and long-term development strategy. In a statement, the BOI said the approval allows it to formally commence non-interest banking operations. The …
The Nigerian naira remained stable against the United States dollar on Monday, February 9, 2026. This stability marked the start of the second week of trading in the foreign exchange market. Overall, the currency continued to benefit from consistent policy support and improved market confidence. In the Nigerian Foreign Exchange Market (NFEM), the naira opened …
Competition in Nigeria’s downstream petroleum sector has intensified once more following a drop in the landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, below the ex-depot price offered by the Dangote Petroleum Refinery. The Widening Price Gap According to the Major Energies Marketers Association of Nigeria (MEMAN) Competency Centre Energy Bulletin, …
