Nigeria's economy remains on a gradual recovery path despite lingering structural weaknesses that continue to limit the impact of growth on businesses and households, the Centre for the Promotion of Private Enterprise (CPPE) has said. Reacting to the first quarter 2026 Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS), the …
Fidelity Bank Plc posted a sharp increase in impairment charges on financial assets in the first quarter (Q1) of 2026, as rising macroeconomic pressures and higher provisions for other assets weakened profitability despite strong growth in earnings and foreign exchange gains. An analysis of the bank’s financial results released on Monday shows that impairment charges …
The Nigeria Civil Aviation Authority (NCAA) has announced that it has temporarily suspended its earlier decision to halt services to 11 airlines over outstanding debts. Pinnacle Daily reports that the NCAA had, in an internal memo dated May 22, directed the placement of 11 domestic airlines on a “No-Pay-No-Service” list. The directive required all NCAA …
Access Holdings Plc has crossed the ₦1 trillion profit threshold. But beneath the headline numbers lies a more nuanced story of transformation, risk, and strategic repositioning. Here are ten critical things every investor and market watcher must note. The ₦1 Trillion Profit Milestone Is Historically Significant For the first time in its corporate history, …
There is a paradox at the heart of Fidelity Bank Plc's 2025 full-year financial statements: a bank that has never been larger, never held more deposits, and never earned more gross revenue has nonetheless posted a lower profit than it did the year before. For investors, analysts, and regulators watching Nigeria's banking sector navigate one …
How China's $180 billion bet on Africa — from Nigerian railways to Angolan oil — is rewriting the rules of global power, filling the void left by a negligent West, and raising urgent questions about who, ultimately, will pay the price. $180.87B Chinese loans to Africa 2000 – 2024; 1,319 loan commitments across 49 nations; …
International ratings agency S&P Global Ratings has upgraded Nigeria’s long-term credit rating to ‘B’ from ‘B-’, citing stronger foreign exchange reserves, reforms in the oil sector, and rising refining capacity. However, the agency warned that growing election-related spending and rising fuel prices could still weaken the country’s fragile economic gains. In its latest sovereign rating …
For decades, Nigeria’s Bilateral Air Service Agreements (BASA) were designed to encourage reciprocal airline operations and boost connectivity between countries. However, many Nigerian airlines have struggled over the years to benefit from these agreements, while foreign carriers continue to dominate international routes in and out of the country. BASAs are agreements between one government and …
For decades, Nigeria’s economy has largely revolved around crude oil revenues, leaving the country vulnerable to global oil price shocks, foreign exchange volatility, and rising unemployment. Despite its vast arable land, large population, and abundant natural resources, experts say the nation has yet to fully harness the potential of agriculture and other non-oil sectors to …
The Centre for the Promotion of Private Enterprise (CPPE) has warned against any retaliatory action by the Nigerian government over recent xenophobic attacks in South Africa, saying such moves would damage the Nigerian economy and weaken investor confidence. In a statement issued on Wednesday, May 6, Chief Executive Officer of CPPE, Dr Muda Yusuf, described …
