Nigeria’s gross external reserves have come under sustained pressure over the past month, shedding more than $1.18 billion between March 11 and April 9, 2026, amid persistent market interventions and rising global uncertainty. Data from the Central Bank of Nigeria (CBN) shows the reserves declined from a peak of $50.03 billion on March 11 to …
The Centre for the Promotion of Private Enterprise (CPPE) has strongly criticised the World Bank’s recommendation that Nigeria should increase the importation of petroleum products and food, warning that such a move could reverse recent economic gains and weaken the country’s push for self-sufficiency. In a statement issued on Sunday, CPPE Chief Executive Officer, Dr …
A review of Zenith Bank Plc’s 2025 audited financial statements reveals a year marked by numerous risks, pressure on profits, and new challenges in business operations. Although the bank grew in size and strengthened its financial position, from difficult accounting decisions to risks linked to climate change, the bank’s performance was influenced by five major …
The Nigerian Government has approved sweeping tariff reductions on key imports, including vehicles, rice, palm oil and sugar, as part of its 2026 fiscal policy aimed at stimulating economic growth and supporting critical sectors. In a circular issued by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Federal Government confirmed …
Nigeria’s business environment remained in expansion territory in March 2026, but momentum weakened significantly as rising input costs, weak investment appetite, and persistent structural challenges dragged performance across key sectors, according to the latest Nigerian Economic Summit Group Business Confidence Monitor (BCM). The report paints a picture of a cautious economy, one where businesses are …
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian government to declare a state of emergency on crude oil and gas production in the country as part of efforts to boost the energy self-sufficiency drive. PETROAN National President, Dr Billy Gillis-Harry, who appeared on Channels Television Business Morning on …
Nigeria’s aviation sector is grappling with a fresh wave of uncertainty as a sharp increase in jet fuel prices forces domestic airlines into a difficult situation. Industry analysts observe that while the cost of aviation fuel (Jet A1) has skyrocketed by over 100 per cent in recent times, domestic airlines are struggling to raise ticket …
The Nigerian banking sector has entered a new phase of financial strength with the completion of the Central Bank of Nigeria’s (CBN) recapitalisation exercise. The programme, aimed at boosting the resilience, competitiveness, and lending capacity of banks, required Nigerian financial institutions to raise their minimum capital by March 31, 2026. The results are nothing short …
In this interview, Professor Uche Uwaleke, President of the Capital Market Academics of Nigeria, shares his insights on the recent recapitalisation of Nigeria’s banking sector. He discusses the importance of recapitalisation in strengthening the financial system, the benefits Nigerians can expect, and the potential risks involved. Professor Uwaleke, what role does recapitalisation play in …
Nigeria stands to gain from a stronger and more stable naira, but an excessive appreciation could undermine exports, fiscal revenue, and long-term economic diversification, warns Kazeem Bello, CEO and principal partner of Afrique Capital and Equity Funds Ltd, New York. Bello, a development economist and investment banker, told Pinnacle Daily that Nigerian authorities face a …
