Nigeria’s capital market contribution to Gross Domestic Product (GDP) has increased to 33 per cent from 13 per cent in April 2024, reflecting its expanding role in the economy. The growth follows a 125 per cent increase in market capitalisation, which rose to N123.93 trillion from about N55 trillion. The Director-General of the Securities and …
The US Supreme Court has ruled against President Donald Trump’s imposition of tariffs in a long-awaited ruling that will be seen as a blow for the president’s economic agenda. By 6-3 the court found that President Trump exceeded his authority by using a law reserved for national emergencies to impose tariffs. Here are 10 key takeaways from the …
Top associations of American businesses are demanding to be repaid for Donald Trump’s tariffs following Friday’s supreme court ruling. The US National Retail Federation, which represents a number of US retailers, from Walmart to small brands and manufacturers, called for “a seamless process to refund the tariffs to US importers". “The refunds will serve as an economic boost …
A Lagos-based business with 20 staff on its payroll recently lost a staff member after a brief illness. The family of the deceased staff member approached the company and asked for the payment of life assurance by the company. The company had no active policy in place and simply replied that they have no insurance …
The long-awaited FCT Area Council election held on February 21, 2026, has seen the All Progressives Congress (APC) maintain its stronghold, claiming the chairmanship seats in Abuja Municipal Area Council (AMAC), Abaji, and other key regions. The People’s Democratic Party (PDP), however, emerged victorious in Gwagwalada, marking the only defeat for the APC in this …
The Centre for the Promotion of Private Enterprise (CPPE) said Nigeria’s recent rebound in capital importation may be encouraging, but underlying structural risks threaten its sustainability. The economic think tank group gave the warning in a statement on Sunday, signed by its Chief Executive Officer, Muda Yusuf. It noted that total capital inflows rose to …
Yiaga Africa has identified a series of operational lapses and integrity concerns that marred the Federal Capital Territory (FCT) Area Council elections held on Saturday, February 21, by the Independent National Electoral Commission (INEC). In a preliminary statement on the exercise, the civic organisation cited the late opening of polling units, redistribution of voters without …
All eyes are on the Central Bank of Nigeria (CBN) as its Monetary Policy Committee (MPC) meets February 23–24 to decide whether to cut the benchmark interest rate or maintain its cautious stance amid shifting macroeconomic signals. The decision comes at a delicate moment for policymakers, balancing moderating inflation against concerns about liquidity and financial …
Nigeria’s insurance sector recorded mixed fortunes in 2025 as rising claims and fluctuating loss ratios reshaped profitability across leading firms. A Pinnacle Daily review of the 2025 financial statements of 10 major insurers shows a market driven by large premium volumes, underwriting discipline, and strong investment income. While some firms successfully balanced claims obligations with …
In a major move to centralise national earnings, President Bola Tinubu has signed an Executive Order that effectively strips the Nigerian National Petroleum Company Limited (NNPC) of the power to withhold significant portions of oil and gas revenues before they reach the Federation Account. The Executive Order, signed on February 13, and officially gazetted and …
