The National Sports Commission (NSC) has intensified efforts to position sports as a major driver of economic development following the conclusion of a two-day strategic engagement with an international consortium of investors, business development promoters, and technical partners on the proposed development of a motorsports district in Abuja. The initiative, which is still at the …
Jaiz Bank Plc held a virtual Annual General Meeting today where Managing Director/CEO Dr Haruna Musa presented the bank's audited results for the year ended December 31, 2025, before taking questions from the media. Musa highlighted a 19 per cent rise in total assets to ₦1.29 trillion, a 24 per cent jump in customer deposits …
The Nigerian Communications Commission (NCC) has directed telecommunications companies to obtain its approval before any transfer of shares amounting to 10 per cent or more of their ownership structure. The agency gave the directive in a joint statement issued on Sunday by the commission and the Corporate Affairs Commission (CAC). It said the new requirement …
The first quarter (Q1) of 2026 offered the first major test of the Nigeria Tax Act 2025, and the results show a clear pattern across many sectors of the economy, Pinnacle Daily can report. An analysis of financial statements of banks, insurers, agribusiness firms, cement manufacturers, and telecommunications companies shows that companies paid significantly more …
The Nigerian Police Force (NPF) Pensions has launched an interactive virtual assistant platform accessible through major social media channels in its bid to bring service closer and cheaper to its subscribers, with a target for full nationwide enrolment within three months. The acting Managing Director/Chief Executive Officer of NPF Pensions, Muhammed Dutse, says the organisation …
The federal government, through the Ministry of Finance, has approved payments to more than 1,240 local contractors, a move aimed at injecting immediate liquidity into indigenous businesses and reinforcing the government’s commitment to meeting its financial obligations. The approval was granted by the minister of finance and coordinating minister of the economy, Mr Taiwo Oyedele, …
Nigeria's biggest lenders—First HoldCo, United Bank for Africa (UBA), Guaranty Trust Holding Company (GTCO), Access Holdings, and Zenith Bank, collectively known as FUGAZ—significantly expanded credit to the manufacturing sector between 2021 and 2025, making it one of the most important destinations for bank lending outside the oil and gas industry. However, a closer look at …
President Bola Tinubu's administration entered the third quarter of 2025 with a promise to stabilise the economy, boost growth and invest heavily in infrastructure. On the surface, some of the numbers appear encouraging. Economic growth strengthened, inflation slowed sharply, and non-oil revenue collections exceeded expectations. Beneath those positive indicators, however, the government's budget implementation report …
The Nigerian stock market extended its bullish run in May 2026, with investors gaining approximately ₦4.52 trillion as strong performances in industrial, insurance, and banking stocks lifted key market indicators despite weakening market breadth. Data from the Nigerian Exchange (NGX) showed that the All-Share Index (ASI) rose by 3.35 per cent during the month, climbing …
Nigeria has continued to record shortfalls in crude oil production output, reaching 31.6 million barrels in the first four months of 2026, according to a Pinnacle Daily analysis of data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Production Below Budget Targets The NUPRC data revealed a persistent gap between projected and actual oil …
