Analysts at Financial Derivative Company (FDC) led by economist Bismark Rewane have said Nigeria’s latest trade figures highlight both the fragility of its oil reliance and the potential of its broader economy. In Q2 2025, crude oil earnings slumped by over ₦3 trillion, despite higher production. By contrast, non-oil exports surged 107% to ₦18.4 trillion in the …
Nigeria has been classified among three sub-Saharan African countries where borrowing costs for governments and businesses have risen in the last five years due to policy weaknesses, unfavourable market conditions, and inflation. Moody’s Ratings, an international rating firm, hinted at this in its latest study, published on Monday, September 15. It stated that Nigeria, South …
The National Drug Law Enforcement Agency (NDLEA) has seized 2,248,000 tramadol pills worth N3.99 billion at the Murtala Muhammed International Airport (MMIA), Lagos. Spokesman Femi Babafemi said on Sunday that operatives arrested an Indian businessman, Gupta Ravi Kumar, along with three Nigerians—Ogunlana Noah Olanrewaju, Olushola Idrees Kayode, and Bakare Korede Muheebb. The shipment, disguised as …
The decision by OPEC+ to increase oil output by an additional 137,000 barrels per day (bpd) in October 2025 reflects a nuanced shift in global oil market management. For Nigeria, a member of OPEC, this move has significant implications for production and the economy. Pinnacle Daily reports that the group, which includes OPEC members plus …
Natasha Akpoti‑Uduaghan, the senator representing Kogi Central, is the eighth lawmaker to be suspended from the Senate since Nigeria’s return to democratic rule in 1999. She also ranks third among senators who secured legal reversal of their suspensions through court rulings. Pinnacle Daily recalls that the Federal High Court in Abuja, on July 3, ordered …
Air Peace has responded to preliminary findings from the Nigerian Safety Investigation Bureau (NSIB), disputing claims that its flight crew tested positive for alcohol and drugs following a runway incident at Port Harcourt International Airport on 13 July 2025. In an official statement released on Friday, the airline said it had not received any formal …
Nigeria’s rebased gross domestic product (GDP) will require 21.95 per cent growth at an N1,500 per dollar exchange rate to achieve a $1 trillion economy target by 2031. Afrinvest West Africa Limited predicted this in its 20th Nigeria Banking Sector Report 2025, entitled ‘ACT-BOLD: Beyond a Trillion Dollar Economy’, released recently in Lagos. In a …
Male travellers are no longer eligible for Qatari visas unless accompanied by their families, according to new regulations announced by the country’s Ministry of Interior. The Qatari authorities said the measures followed repeated cases of overstays by Nigerian visitors. Under the new policy, only female applicants and family groups are allowed to apply for tourist …
A Nigerian lawyer, Justice Segun Ojienoh, has petitioned the Google Group over the police location feature on its Google Maps, alleging it could be divulging sensitive security information and demanding the removal of the feature from the application. He claimed the feature portends a security threat not only to his life but also to other …
Nigerian banks are increasingly turning to non-interest income to diversify revenue streams, enhance profitability, and mitigate risks associated with traditional interest-based models. Analysts observed that this shift is mainly driven by economic volatility, regulatory changes, and the growing adoption of digital financial services. Pinnacle Daily’s analysis of the financial statements of eight Nigerian commercial banks …
