When the Nigerian Bureau of Statistics (NBS) announced that inflation had declined for the seventh consecutive month, falling from 34.6% last year to 16.05% in October 2025, policymakers celebrated. On paper, the trajectory suggested a successful year of monetary policy tightening, stable exchange rates, and improved food supply. Yet for households in Abuja’s Nyanya, Lagos’ …
The naira recorded a significant drop on Wednesday, November 19, at the official foreign exchange market despite a surge in Nigeria’s foreign reserves in recent times. The Central Bank of Nigeria’s exchange rate data indicated that the naira depreciated to ₦1,454.19 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, against the ₦1,447.43 …
Amid Nigeria’s troubling macroeconomic environment, a renowned economist, Muda Yusuf, has said that the country could harness and maximise the opportunities that come with the recent positive ratings for its economy if the government shows commitment to addressing structural issues as well as concerns over the welfare of average Nigerians. Dr Yusuf expressed his thoughts …
The National Sugar Development Council (NSDC) has launched the Sugarcane Outgrower Development Programme (SODP) to increase local sugar production and reduce Nigeria’s dependence on imports. The initiative, which supports the Nigeria Sugar Master Plan II (NSMP II), aims to bring farmers into the national sugar value chain while boosting rural jobs and income. Announcing the …
The Federal Government has inaugurated a Government-Private Sector (GPS) Dialogue Series aimed at strengthening collaboration with the private sector to accelerate economic growth and expand financing opportunities for Small and Medium-sized Enterprises (SMEs). The initiative, launched on Saturday at the Radisson Blu Hotel in Ikeja, Lagos, forms part of the Renewed Hope Agenda and seeks …
The Securities and Exchange Commission (SEC) has disclosed that Nigerians have lost an estimated N300.2 billion to Ponzi and illegal investment schemes in recent years, sparking intensified enforcement and heightened investor-protection efforts. AbdulRasheed Dan-Abu, Head of Fintech and Innovation at the SEC, revealed the figure during the Commission’s 2025 Journalists Academy in Abuja on Thursday. …
In a sweeping structural reform, Nigeria has effectively abolished its standalone 10% Capital Gains Tax (CGT) and integrated the gains into its new income tax regime, a move that has triggered widespread debate over its potential to stifle investment or modernize tax fairness. Under the newly signed Nigeria Tax Act, 2025, capital gains for individuals …
Abuja residents are reeling under the weight of yet another energy crisis, this time, a sharp hike in both fuel and cooking gas prices that has left filling stations deserted, homes dark, and businesses struggling to survive. Over the past week, the cost of cooking gas in the FCT has surged from around ₦1,020 per …
The Nigeria Export Processing Zones Authority (NEPZA) has reaffirmed that all enterprises operating within the nation’s Free Trade Zones, including the Dangote Refinery are legally barred from industrial strikes and lockouts for a period of 10 years from the start of their operations. The Authority’s Managing Director, Dr. Olufemi Ogunyemi, made this clear in Abuja …
The Nigeria Deposit Insurance Corporation (NDIC) and the Chartered Institute of Bankers of Nigeria (CIBN) have strengthened their collaboration to address emerging risks and challenges within Nigeria’s banking sector. This was made known in a press statement made available to Pinnacle Daily and signed by the Head of Communication and Public Affairs, NDIC, Hawwau Gambo, …
