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 Security and Civil Defence Corps has sealed factories belonging to Inner Galaxy Steel Company and Jiuxing Industry Limited following the alleged theft and illegal recycling of critical national infrastructure worth billions of naira. The Corps disclosed that the action followed court-approved operations after investigations linked the companies and their accomplices to the vandalism …
Nigeria’s economic growth slowed in the first quarter of 2026 as gross domestic product (GDP) growth fell to 3.89 per cent from 4.07 per cent recorded in the fourth quarter of 2025. This is according to data released Monday by the National Bureau of Statistics (NBS). The latest figure, however, was higher than the 3.13 …
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 …
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 …
Nigeria’s downstream petroleum sector has again come into the spotlight following the legal action instituted by Dangote Petroleum Refinery against the issuance of fuel import licences and the mixed reactions it has generated among marketers. The development has sparked intense debate across the energy sector, with stakeholders sharply divided over its implications for competition, local …
The 2025/26 football season delivered another mixed but important chapter for Nigerian footballers across Europe and beyond. While dozens of Super Eagles stars featured prominently in top leagues, only a select group ended the campaign with official club silverware. From Central Europe to Turkey, Nigerian players once again proved their value in winning environments. However, …
Dangote Petroleum Refinery and Petrochemicals is set to go to the capital market with its initial public offering (IPO) in September, driven by overwhelming investor demand. President of the Dangote Group, Aliko Dangote, who gave the confirmation on Wednesday, said investor demands have reached $2 billion for the planned private placement, reflecting massive market confidence …
The insurance sector has delivered strong returns on the Nigerian stock market over the past 52 weeks, with several stocks doubling, tripling and in some cases quadrupling in value, as the countdown to the industry’s recapitalisation deadline gathers pace. However, despite the sharp rally, the sector remains overshadowed by heavyweight performers in oil and gas, …
When the Central Bank of Nigeria's Monetary Policy Committee gathered in February 2026 for its 304th meeting, the mood was one of cautious optimism. Headline inflation had fallen for eleven consecutive months. Reserves had climbed to a 13-year high of $50.45 billion. The naira was holding. The committee voted, 10 to 1, to cut the …
