Blog

NNPCL fuel subsidy gains not fully remitted - World Bank
Business

Insecurity, economic hardship to worsen in six states – W’Bank

The World Bank predicts that persistent insecurity, armed conflict, and declining livelihoods will continue to impact local government areas in Borno, Kaduna, Katsina, Sokoto, Yobe, and Zamfara states in Nigeria until May 2024. The PUNCH revealed that this came after it was revealed that the country’s access to agricultural inputs is being hampered by bad macroeconomic […]

Apple resumes sale of smartwatches after court ruling
News Tech

Apple resumes sale of smartwatches after court ruling

Apple has temporarily regained the ability to sell its leading smartwatches in the U.S., following a decision by an appeals court on Wednesday to suspend an import ban. This ban, originally issued by the U.S. International Trade Commission due to a patent infringement case involving medical monitoring technology, had impacted Apple’s products. Prompted by the […]

Shipping companies to add surcharges o Europe, American bound containers
Maritime News

Shipping companies to add surcharges to Europe, American bound containers

Leading container companies have announced plans to impose additional fees to cover the costs of rerouting their vessels in reaction to recent attacks on ships in the Red Sea and threats from the Houthi rebel organization in Yemen. According to Businessday, these surcharges have been implemented by major shipping lines, such as Maersk, CMA CGM, […]

IGR to provide N300bn of Enugu's N521bn 2024 budget - Mbah
Business

IGR to provide N300bn of Enugu’s N521bn 2024 budget – Mbah

The Enugu State Governor, Peter Mbah, has stated that the state is going to generate N300 billion of its N521.5 billion budget for 2024 through internally generated revenue. Gov. Mbah made this announcement while signing the N521.5 billion Enugu State 2024 budget into law on Wednesday at the Enugu State House of Assembly. This is stated in […]

Zanzibar develops means to hold its govt accountable
News

Zanzibar develops means to hold its govt accountable

Zanzibar is launching a digital budgeting and planning system to improve openness in governance. According to Business Insider, the Island country hopes to establish uniformity and foster responsibility among planners, implementers, and decision-makers with this concept. The Zanzibar administration claims that manual planning and budgeting would be ineffective. The East African country reported that the new digital […]

New York Times sues OpenAI over copyright infringement
News Tech

New York Times sues OpenAI over copyright infringement

The New York Times has initiated legal action against OpenAI and Microsoft, alleging unauthorized utilization of its published materials for the development of their AI tool, ChatGPT. This marks the first instance of a major American media entity bringing a lawsuit against these companies, who are known for the creation of ChatGPT and other widely-used […]

OpenAI CEI denies sister's rape allegations, calls claims untrue
News Tech

OpenAI board to decide on AI framework

OpenAI has recently revealed its strategies to avert any severe consequences stemming from the advanced AI technology it develops. The company has released a detailed 27-page “Preparedness Framework” document, which describes its efforts to monitor, assess, and mitigate “catastrophic risks” associated with state-of-the-art AI models. These risks include the potential misuse of AI models in […]

FG advocates for strict regulation of tobacco industry
News

British American Tobacco to pay Nigeria $110m over infringements – FCCPC

The Federal Government said that British American Tobacco, Nigeria Limited and its connected organizations will pay a $110 million penalty for infringements. The Federal Competition and Consumer Protection Commission announced this in a statement shared on its X page on Wednesday, following the Commission’s lengthy infringement against BAT and its associated organizations. For BAT Parties […]

Africa launches first electric BRT Jan 2024
News Tech

Africa launches first electric BRT Jan 2024

Residents of Senegal’s major city, Dakar, are expected to ride on Africa’s first all-electric Bus Rapid Transit buses by January 2024. According to The Times, Dakar Mobilité, operating under a PPP agreement with the Senegalese government to manage the infrastructure component of the all-electric BRT network, received 121 large-capacity electric vehicles from Chinese manufacturer CRRC […]

Nigeria to supply South Africa gas from 2024
Oil and Gas

Nigeria to supply South Africa gas from 2024

A Nigerian energy company, Riverside LNG, has reported ongoing talks about a prospective arrangement to supply gas to South Africa beginning in the first quarter of 2024. According to Bloomberg, this would be the first such agreement between the two countries, demonstrating potential collaboration in the energy sector. Earlier this year, the company formed a gas-export collaboration […]

CBN clears $64.44m forex backlog for airlines
featured

Emefiele: Your funds are safe, CBN assures Nigerians

    The Central Bank of Nigeria has issued a strong affirmation regarding the security of funds within Nigerian banks, underscoring the stability of the nation’s banking sector. Amid circulating unverified reports, not originating from the CBN, causing concerns about the health of Nigerian banks, the apex bank urged the public to continue their regular […]

Manufacturers, importers to stop supplying drugs to Kano market
Business

MSMEs decry rising NAFDAC testing costs

Wilson Adekumola The Micro, Small and Medium Entrepreneur have bemoaned the excessive charges of testing and stringent processes local businesses face to get approvals from the National Agency for Food and Drug Administrative Control. According to the Guardian, Vice-President, Lagos Chamber of Commerce and Industry and head of chamber’s Public Affairs and Advocacy Committee, Prince […]