Agusto & Co., a pan-African credit rating agency, has projected that Nigerian banks' profit before tax (PBT) for 2025 will drop by 19.2 per cent, primarily due to higher impairment charges, reduced foreign exchange (FX) revaluation gains, and regulatory changes. The pan-African rating agency made this known in its latest banking industry report for 2025. …
By Victor Ezeja The proposed return of Petrobras to Nigeria, as discussed during President Bola Tinubu's state visit to Brazil earlier this week, is seen as a significant development with far-reaching implications for Nigeria’s oil and gas industry. This comes five years after it exited joint venture activities in the country. The deal is part of broader …
By Rafiyat Sadiq In any democracy, the courtroom should stand as a sanctuary of truth, where both the weak and the powerful are held equally accountable under the rule of law. However, in Nigeria, the judiciary has faced accusations of delivering rulings that are unclear, contradictory, and susceptible to manipulation, undermining public confidence in the …
Revenue Extraction Disguised as Reforms – Nigerians As of September 1, 2025, the Nigeria Immigration Service (NIS) has officially doubled domestic passport fees, setting a new threshold that now makes the Nigerian passport among the most expensive in Africa. Applicants within Nigeria will now pay ₦100,000 for a 32-page, 5-year validity passport and ₦200,000 for …
While Nigeria battles insurgency, the rate of kidnapping has equally escalated and turned into a lucrative industry, with abductors getting billions of naira as proceeds yearly. A recent report by SBM Intelligence revealed that between July 2024 and June 2025, kidnappers demanded roughly ₦48 billion as ransom and got ₦2.57 billion, representing 5.35 per cent …
The Alliance for Economic Research and Ethics LTD/GTE has issued a strong call for clarification from the Nigerian government regarding its recent ban on the export of raw shea nuts. In a strategic move aimed at maximising the potential of Nigeria’s shea industry, President Bola Ahmed Tinubu announced a six-month ban on the export of …
In a strategic move aimed at maximising the potential of Nigeria’s shea industry, President Bola Ahmed Tinubu announced a six-month ban on the export of raw shea nuts. This bold decision, effective immediately, is designed to curb the export of unprocessed shea, encourage local processing, and position Nigeria to capture a larger share of the …
Nigeria’s external reserves have been projected to reach $45 billion by the end of 2025, bolstering efforts by the Central Bank of Nigeria (CBN) to stabilise the naira and pave the way for economic growth. This comes as external reserves have recorded a steady rise in recent times, reaching $41 billion on Tuesday, August …
Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has hailed the new Bilateral Air Services Agreement (BASA) with Brazil as a “significant breakthrough.” He said the pact would reconnect both nations economically, socially, and culturally. Speaking in Brasília on Monday after the signing ceremony attended by President Bola Tinubu and Brazilian President Luiz Inácio …
Former Minority Leader of the House of Representatives, Farouk Adamu, says the All Progressives Congress (APC) will continue to disrupt the activities of the newly formed opposition coalition ahead of the 2027 general elections. In an exclusive interview with Pinnacle Daily, the former two-term lawmaker said the move is in direct response to what he …
