One year after the Nigeria National Petroleum Company (NNPC) Limited declared the resumption of the Port Harcourt and Warri refineries, both facilities are currently shut down, fuelling intense public backlash and scrutiny. Despite multi-billion-dollar investments and celebratory commissioning ceremonies held in late 2024, the state-owned refineries have largely failed to sustain operations. Pinnacle Daily recalls …
Nigeria’s economy is expected to make a clearer transition from stabilisation to growth, based on projections by the Centre for the Promotion of Private Enterprise (CPPE). The centre made the forecast in its 2026 economic outlook issued by its Chief Executive Officer, Muda Yusuf, on Sunday. The non-governmental organisation, which focuses on promoting, protecting, and …
One of the pertinent worries that has trailed the Christmas Day fire incident at the popular Balogun Market in Lagos State is whether the buildings affected were insured. Pinnacle Daily reported that the fire, which destroyed the Great Nigeria Insurance House on Martins Street, Lagos Island, broke out at about 5 p.m. on Wednesday. LASEMA and …
President Donald Trump has confirmed he’d ordered a deadly strike on Islamic State terrorists in Nigeria, who he has accused of persecuting Christians in the country. In a post on social media on Christmas day, Trump said he’d directed a “powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria,” who he said had …
Nigeria’s financial landscape saw significant shifts in 2025, with key events influencing the economy’s trajectory. From major reforms to foreign capital inflows, these activities played a crucial role in shaping Nigeria’s economic outlook. Here are the top 10 financial stories in Nigeria for 2025, backed by key data points that highlight their impact. 1. Nigeria …
On Friday, December 19, 2025, Nigeria's President Bola Tinubu presented a proposed 2026 budget size of N58.18 trillion to a joint session of the National Assembly. Christened ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’, it aims to consolidate economic reforms and boost growth. It was read for the first time on the same day, …
When embarking on international travel, the goal of ensuring that one does not lose money often leads to two distinct challenges: avoiding legal penalties (seizures and fines) and minimising financial loss (bad exchange rates and fees). Various countries, including Nigeria, have rules on possession of cash, especially hard currencies such as dollars, Euros, and pounds …
Nigeria lost N16.2 trillion in oil revenue in the first half of 2025, reflecting a shortfall from the government's revenue targets for that period. According to a report released by the Budget Office on budget performance, N9.32 trillion was generated out of the 25.52 trillion projected for January to June 2025. This means only 36.52 …
In December 2025, the United States government announced new visa restrictions affecting Nigerian nationals, introducing partial travel limits and heightened scrutiny for several visa categories. The move is part of a broader Trump administration immigration policy shift that expands travel restrictions to multiple countries, including Nigeria, amid cited security and compliance concerns. While U.S. officials …
First Holdco Plc, the parent company of First Bank of Nigeria and other financial brands, has reported its financial performance for the nine months ended September 2025. Despite a significant 71.70% rise in net interest income, the company faced a 12.96% decline in profit after tax (PAT). In this period, gross earnings increased by 17.07% …
