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Nigeria ships first Obodo crude blend, says NUPRC

  • 14th May 2025
UK expands work visa sponsors for Nigerians

UK unveils major visa overhaul to cut legal

  • 11th May 2025

BUA cement announces revised date for ₦2.05 dividend

  • 8th May 2025

Lagos partners BOI, Sterling Bank to boost MSMEs

  • 8th May 2025

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Sony shares climb amid volatility after $1.7b buyback news

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IMF warns AI power surge could strain global energy

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Nigeria, W’Bank partner to reclaim degraded land

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CBN, NIBSS partner to launch BVN platforms for Nigerians

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IMF projects Nigeria’s inflation to average 26.5% in 2025

The International Monetary Fund projects Nigeria’s inflation rate to average 26.5% in 2025, following the recent rebasing of the Consumer Price Index by the National Bureau of Statistics. While this marks a decline from 33.2% in 2024, inflation is expected to rise again to 37.0% in 2026. This forecast is outlined in the IMF’s April […]

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NiMet workers to begin indefinite strike Tuesday over unmet demands

Workers at the Nigerian Meteorological Agency have announced an indefinite strike starting today, April 22, 2025, due to unmet demands and repeated violations of their collective bargaining agreement by the agency’s management. In a letter, the Union of Air Transport Employees, the Association of Nigerian Aviation Professionals, and the Amalgamated Union of Public Corporations, Civil […]

A simple question posed on X (formerly Twitter) has sparked a curious debate about digital etiquette — and its potential cost. One user asked, “I wonder how much money OpenAI has lost in electricity costs from people saying ‘please’ and ‘thank you’ to their models.” OpenAI CEO Sam Altman chimed in with a characteristically dry reply: “Tens of millions of dollars well spent — you never know.” While Altman’s response was clearly tongue-in-cheek, it opened up a broader conversation: does politeness to artificial intelligence come with a price tag? Technology site Futurism picked up the exchange, musing on whether pleasantries like “please” and “thank you” — often directed at ChatGPT and other AI tools — might be not only unnecessary but also wasteful in terms of time and computing power. But not everyone sees it as a pointless gesture. Kurt Beavers, a design director on the Microsoft Copilot team, suggested there’s more to digital politeness than meets the eye. According to Beavers, polite inputs from users can influence tone and outcomes. “Using polite language sets a tone for the response,” he said. “When an AI model clocks politeness, it’s more likely to be polite back.” In other words, AI might be mirroring more than just words — it could be taking cues from human manners, too. Still, while some users embrace courteous phrasing as part of interacting with AI in a more “human” way, others argue it’s just another habit formed in a world of voice assistants and automated replies — or perhaps even a subconscious hedge against a sci-fi-style future where machines remember how we treated them.
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Saying ‘Please,’ ‘Thank you,’ to ChatGPT costs OpenAI millions, Altman laments

A simple question posed on X (formerly Twitter) has sparked a curious debate about digital etiquette — and its potential cost. One user asked, “I wonder how much money OpenAI has lost in electricity costs from people saying ‘please’ and ‘thank you’ to their models.” OpenAI CEO Sam Altman chimed in with a characteristically dry […]

Uber fined €10m for invading drivers' privacy
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US sues Uber over alleged deceptive subscription practices

The United States Federal Trade Commission has filed a lawsuit against Uber Technologies Inc., accusing the ride-hailing giant of enrolling customers into its Uber One subscription service without their consent and misleading users about potential savings and the ease of cancellation. Filed Monday in a federal court in San Francisco, the suit claims that Uber […]

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Private sector credit hits N76.27tn in March – CBN

Credit to Nigeria’s private sector rose slightly to ₦76.27 trillion in March 2025, representing a 0.03% increase from ₦76.25 trillion in February 2025. This is based on the latest data released by the Central Bank of Nigeria. However, the figure remains below the ₦77.38 trillion recorded in January 2025, highlighting a broader trend of credit […]

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months
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Nigeria’s money supply hits ₦114.22tn in March

Nigeria’s broad money supply surged to ₦114.22 trillion in March 2025, according to the latest data from the Central Bank of Nigeria, raising concerns about the effectiveness of the apex bank’s aggressive tightening measures. The March figure reflects a 24% year-on-year increase from ₦92.19 trillion in March 2024, and a 3.2% month-on-month rise from ₦110.71 […]

Huawei establishes cloud centre in Saudi Arabia
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Huawei begins mass shipments of 910C chips as US curbs bite

Huawei Technologies is preparing to ramp up mass shipments of its latest 910C artificial intelligence chip to domestic customers as early as next month, according to sources familiar with the matter. Some early shipments have already been made, they added. The move comes at a crucial time for China’s AI sector, which has been scrambling […]

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Forex shortage drives rise in local raw material use – MAN

Nigeria’s foreign exchange crunch in 2024 prompted manufacturers to increase their use of local inputs in a bid to cut costs and maximise value, according to the Manufacturers Association of Nigeria. In its latest economic review for the second half of 2024, MAN reported that local raw material utilisation in the manufacturing sector rose to […]

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FG generates N6.96bn in mining fees

The Federal Government, through the Ministry of Solid Minerals Development, generated ₦6.96 billion in mining fees and registered 118 new private mineral buying centres in the first quarter of 2025. Minister of Solid Minerals Development, Dr. Dele Alake, said the figures reflect the Ministry’s ongoing efforts to boost investor interest and increase public awareness in […]

Oil and Gas

Marketers lament losses after NNPC’s petrol price cut

Petroleum product marketers expressed concerns on Monday over their losses following a price reduction by the Nigerian National Petroleum Company Limited. The price of Premium Motor Spirit was lowered to N880 per litre in Lagos and N935 in Abuja. NNPC retail outlets in Lagos adjusted their pump price from N925 to N880 on Easter Monday, […]

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Currency outside banks hit ₦4.6trn in March – CBN

The total value of currency held outside Nigeria’s banking system in March rose to ₦4.6 trillion, representing 91.9% of the ₦5.00 trillion total currency in circulation. According to the latest money and credit statistics released by the CBN, ₦4.6 trillion was held outside the banking system in March 2025, accounting for 91.9% of the total […]

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Naira trades at ₦1,845/€ on Easter Monday

The Nigerian naira held firm against the euro on Monday, despite the European currency’s sharp rally against the U.S. dollar in global markets. On the parallel market, the euro/naira exchange rate climbed to ₦1,845. Market activity showed that the naira broke below its ₦1,800/€ support level, pushing the EUR/NGN exchange rate higher. The black market […]

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