For decades, the narrow wooden walkways of Makoko have carried the hopes, struggles, and livelihoods of thousands of residents living along the Lagos waterfront. But after recent demolitions in Makoko, Oko-Agbon, and Sogunro communities, many now face a difficult choice. They must either abandon the fishing settlements where their families have lived and worked for …
Investors on the Nigerian Exchange Limited (NGX) are set for another dividend season in July, with six listed companies scheduled to reward shareholders. Dangote Cement Plc led the July dividend season with a record N753.8 billion payout that signals strong corporate earnings despite a challenging business environment. The cement giant kicked off the dividend payments …
The Nigeria National Petroleum Company Limited (NNPC) revenue fell by 12.8 per cent in May 2026, dropping from ₦4.971 trillion in April to ₦4.335 trillion despite a rise in crude oil and condensate production to a one-year high. According to the NNPC Limited Monthly Report Summary for May 2026 released on Wednesday, the profit after …
Dangote Petroleum Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, cutting it by N50 per litre to N1,075, marking the fourth price cut by the refinery within a single month. The company confirmed the price cut in a statement released on Thursday, July 2. The …
Global crude oil prices have continued to decline, with Brent, the international benchmark, briefly selling at $70 before rising slightly to $71.57 per barrel on Wednesday, July 2, 2026. The U.S. West Texas Intermediate (WTI) fell to $68.44 per barrel, according to Oilprice.com. This is considered the lowest level in months. The primary driver …
The government says renewable energy is now central to Nigeria's power strategy as new solar mini-grids energize homes, businesses, schools, and farms, with the promise of improved national electricity supply before year-end. The Federal Government has completed 23 solar-powered mini-grid projects that are now delivering electricity to about 50,000 Nigerians in a major push …
A member of the Imo State House of Assembly representing Okigwe Constituency, Samuel Chidiebere Ogbunikpa, has called on Governor Hope Uzodimma to urgently strengthen the state's emergency response system by establishing functional fire service stations and rehabilitating the dilapidated Okigwe Fire Station following the recent fire outbreak at Eke Okigwe Market. Ogbunikpa made the appeal …
Nigeria has been removed from the European Union's list of high-risk third countries for money laundering and terrorism financing, with the Nigeria Financial Intelligence Unit (NFIU) attributing the development to sustained government reforms, stronger law enforcement, and improved inter-agency collaboration. The Head of Strategic Communications at the NFIU, Aishatu Bantam, disclosed this on Thursday during …
The Central Bank of Nigeria's (CBN) revocation of operating licenses for 46 microfinance banks (MFBs), effective July 1, 2026, is the latest chapter in a decade-long effort to clean up a sub-sector that has long struggled to reconcile its social mandate, extending credit to Nigeria's unbanked and underbanked, with the discipline of prudential banking. Acting …
Dr. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), took questions from Pinnacle Daily and other reporters at a mid-year media roundtable at the Afreximbank African Trade Centre (AATC) in Abuja, which centered on rating agencies and the focus of the bank going forward. Except: Standard & …
