Nigeria's ₦70,000 minimum wage may have represented a historic increase when it replaced the previous ₦30,000 wage floor, but a fresh comparison of minimum wages across three major African economies reveals a far more troubling reality. After adjusting for differences in the prices of goods and services, the purchasing power of Nigeria's minimum wage is …
The Central Securities Clearing System Plc (CSCS) has cut selected fees and scrapped others in a fresh move to reduce transaction costs, deepen retail investor participation and improve liquidity in Nigeria’s capital market. The revised pricing framework, announced on Wednesday, halves lien fees for retail investors, removes charges for qualifying securities transfers between immediate family …
Nigeria’s economy is gaining momentum and remains on track towards the Federal Government’s target of becoming a $1 trillion economy by 2030. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said in a statement on Tuesday, following the stronger growth recorded in Nigeria’s gross domestic product (GDP) in the second quarter …
Geregu Power Plc’s recent bond default has raised deeper questions about corporate cash availability, treasury management, and governance, with DataPro Limited arguing that the company’s reported ₦31.77 billion in short-term deposits did not necessarily translate into liquidity when its debt obligation fell due. In its Monthly Rating Brief for September 2026, titled “When Bonds Default: …
Nigeria’s improving economic indicators could come under pressure in the fourth quarter of the year as rising political spending ahead of the 2027 general elections tests the gains made in foreign exchange stability, inflation and liquidity management. According to economic policy analyst Dr Felix Ijeh, Nigeria is entering the final quarter of the year with …
Femi Otedola has further increased his stake in First HoldCo Plc after Calvados Global Services Limited, a company related to the significant shareholder, acquired 147.74 million shares of the financial services group for about ₦20.68 billion. The transaction, disclosed by First HoldCo to the Nigerian Exchange Limited (NGX) on Monday, August 17, was executed on …
Geregu Power Plc's bond default may have shocked investors, but a review of its share-price performance and half-year financial position suggests that some warning signs were already visible before the company failed to meet its latest debt obligations. Checks by Pinnacle Daily reveal that the company’s share price fell 19.6 per cent between January 2 …
How Nigeria’s latest inflation figures expose a painful gap between the economic numbers and what families pay at the market For a Nigerian household walking into a market this week, one question may matter more than the latest inflation headline. If inflation is falling, why is the food bill still rising? The …
Geregu Power Plc has appointed Engr Mohammed Sani Jaoji as its acting Chief Executive Officer, effective Monday, August 17, 2026. The appointment comes amid growing concerns over the company’s debt obligations and recent default on its bond repayment. The company announced the appointment in a statement to the Nigerian Exchange Limited (NGX) and the investing …
For millions of Nigerians, the working day no longer ends when the office closes. At 5 pm, another shift begins. A civil servant becomes a trader. A teacher starts private lessons. A software developer takes on another client. A banker sells products online. A technician accepts evening jobs. A graduate turns to logistics, delivery or …
