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  • 20th May 2025

Lagos secures $22m FDI to expand fibre optic

  • 20th May 2025
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Adelabu faults DisCos for power supply challenges

Electricity

Marks & Spencer faces £300m loss after cyberattack

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Lagos-Calabar coastal highway to begin tolling in December — Umahi

Lagos-Calabar coastal highway to begin tolling in December —

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FG to sell 753 recovered housing units from Emefiele

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Electricity

Adelabu faults DisCos for power supply challenges

The Minister of Power, Chief Adebayo Adelabu, has criticized the electricity Distribution Companies, labeling them the weakest link in the nation’s power supply chain. Speaking at a two-day retreat organized by the Senate Committee on Power in Ikot-Ekpene, Akwa Ibom State, Adelabu accused Discos of disappointing Nigerians and undermining the sector’s progress due to chronic […]

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Marks & Spencer faces £300m loss after cyberattack

Marks & Spencer has announced that a significant cyber attack on its online systems will continue to disrupt digital services until at least July 2025, with potential financial losses reaching £300 million. The British high street giant also warned that the aftermath of the incident could seriously affect its operations and revenue in the weeks […]

Lagos-Calabar coastal highway to begin tolling in December — Umahi
News

Lagos-Calabar coastal highway to begin tolling in December — Umahi

The Minister of Works, Senator Dave Umahi, has announced that tolling on the first section of the Lagos-Calabar Coastal Highway will commence in December 2025, as the federal government targets a ten-year return on investment for the ambitious infrastructure project. Umahi made the disclosure during an interview for a State House documentary marking President Bola […]

News

FG to sell 753 recovered housing units from Emefiele

The Ministry of Housing and Urban Development has taken possession of a 753-unit housing estate previously owned by embattled former Central Bank Governor, Godwin Emefiele. According to the ministry, the property was formally handed over by the Economic and Financial Crimes Commission on Tuesday at its headquarters in Mabushi, Abuja. The Director of Press and […]

Business

Lagos, MAA partner to strengthen executive networking

Lagos State has partnered with Marketing Analytics Africa to host the 2025 African Marketing Technology & E-commerce Conference, a major event aimed at bringing together top brands, marketers, and investors from across the continent. The conference, themed “Marketing in the New Economy: Data-Driven Success in Challenging Times,” will be held on May 24, 2025, at […]

Seven accredited tech learning platforms for aspiring professionals
Tech

Digital skills shortfall could cost Nigeria $11b annually – Expert 

The Chairman of the Sector Skills Council for Information and Communications Technology, Mr. Shola Oshilaja, has warned that Nigeria could lose up to $11 billion annually in potential economic growth due to the widening digital skills gap in the country. Speaking through the Council’s Secretary, Mr. Chukwuemeka Okafor, Oshilaja made the statement on Tuesday in […]

Ecobank raises $125m in oversubscribed Eurobond issuance
Banking

Ecobank secures additional $125m via Eurobond

Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has successfully raised an additional $125 million through a Eurobond tap, increasing the total size of its 2029 notes to $525 million. According to a statement released on Tuesday via the Nigerian Exchange Limited, the Lomé-based pan-African bank issued the tap at a premium price […]

NASS inflated 2025 budget with 11,122 'ghost' projects — BudgIT
News

NASS inflated 2025 budget with 11,122 ‘ghost’ projects — BudgIT

Civic tech organization BudgIT has accused the National Assembly of inserting 11,122 questionable projects worth N6.93 trillion into the 2025 federal budget, describing the move as part of a “deeply entrenched culture of exploitation and abuse” within Nigeria’s budgeting process. The allegations were made public in a statement posted on BudgIT’s official X (formerly Twitter) […]

Apple partners Anthropic on AI-Powered 'vibe coding' platform
Tech

Apple empowers developers with AI access to boost innovations

Apple Inc. is set to empower third-party developers by granting access to its artificial intelligence models, a strategic move to drive innovation and enhance the appeal of its devices, sources familiar with the matter revealed. The iPhone giant is developing a software development kit and frameworks that will allow external developers to create AI-driven features […]

E-commerce

EU plan €2 fee on small parcels, targeting Shein, Temu

The European Union has unveiled a proposal to impose a €2 flat fee on billions of small parcels shipped directly to consumers’ homes, primarily from China, in a move to address customs overload and bolster the EU budget. The measure, announced by EU Trade Commissioner Maros Sefcovic, would end the customs-free status for packages valued […]

Private sector laments loan repayment as interest rate hits 26.26%
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CBN retains MPR at 27.5% for second time in 2025

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 27.50% for the second time in 2025. This decision was disclosed by CBN Governor Olayemi Cardoso during a press briefing on Tuesday following the 300th MPC meeting held in Abuja. Cardoso said, “The Committee was unanimous in its […]

Xiaomi to challenge Tesla with the unveil of YU7 electric SUV
News

Xiaomi to challenge Tesla with the unveil of YU7 electric SUV

Chinese tech giant Xiaomi is set to launch its highly anticipated YU7 electric SUV this Thursday, alongside a suite of other new products, including a self-developed mobile chip, the company announced. The YU7 has been widely touted by analysts as a potential rival to Tesla’s Model Y in China — the world’s largest electric vehicle […]

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