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Nigeria’s inflation drops to 23.71% in April

Nigeria’s inflation rate eased to 23.71% in April 2025, down from 24.23% in March, according to latest data from the National Bureau of Statistics. This 0.52 percentage point drop marks a modest but positive shift, signaling a potential turning point as the country battles persistent economic hardship and high living costs. While still elevated, the […]

NNPCL fuel subsidy gains not fully remitted - World Bank
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ICYMI: NNPCL fuel subsidy gains not fully remitted – World Bank

The World Bank has raised concerns about Nigeria’s fiscal transparency, revealing that the Nigerian National Petroleum Company Limited remitted only half of the revenue gains derived from the removal of the petrol subsidy in 2024. In its latest Nigeria Development Update titled “Building Momentum for Inclusive Growth,” the World Bank disclosed that of the N1.1 […]

Lagos bans night construction, sets 6pm deadline for daily work
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Lagos bans night construction, sets 6pm deadline for daily work

In a decisive move to curb building collapse and safeguard public health, the Lagos State Government has banned all construction activities after 6:00 p.m. across the state. Construction work is now restricted to between 7:00 a.m. and 6:00 p.m., Monday through Saturday. The announcement was made on Thursday by the Commissioner for Physical Planning and […]

Tech

Quantum computing offers rare opportunity to reshape humanity – Expert 

The CEO of Global Quantum Intelligence LLM, André M. König, has said that quantum computing is not just another innovation—it’s a once-in-a-generation opportunity to reshape humanity. This was disclosed by Konig during a panel session at a recent DeepTech Summit held at the University Mohammed VI Polytechnic in Morocco. Konig argues that while other technologies […]

Oil and Gas

Brazil’s Petrobras plans return to Nigeria’s oils sector

Brazil’s state-owned oil giant, Petrobras, is poised to re-enter Nigeria’s oil industry, targeting frontier deepwater acreage. This was disclosed in a statement by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar. The announcement, relayed by Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications, signals a revival of the company’s presence in […]

Business

Make oil investment competitive, Tinubu’s aide urges African nations

The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, issued a stark warning to African nations at the 2025 Africa CEO Forum in Abidjan on on Wednesday, emphasizing that capital for oil sector projects will flow to regions offering the most competitive returns. Speaking to policymakers, investors, and industry leaders, Verheijen underscored the […]

Energy

IFC, Canada fund 108 solar mini-grids in Northern Nigeria

The International Finance Corporation in partnership with the Canadian Government, has invested $5 million in Husk Nigeria to expand solar hybrid mini-grids in underserved communities across Northern Nigeria. This was disclosed in a statement released on Thursday. The funding aims to tackle Nigeria’s persistent energy poverty by providing affordable, reliable, and renewable electricity to off-grid […]

European retailers urge EU to tackle high Visa, Mastercard fees
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European retailers urge EU to tackle high Visa, Mastercard fees

Some of Europe’s biggest retailers and e-commerce companies have called on the European Commission to address what they describe as excessive and opaque fees imposed by United States payments giants Visa and Mastercard. In a joint letter sent this week, the group warned that such fees are undermining the EU’s competitiveness and stifling market competition. […]

Amazon cuts 100 Jobs in devices, services unit
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Amazon cuts 100 Jobs in devices, services unit

Amazon has laid off approximately 100 employees from its Devices and Services division, the company confirmed on Wednesday, marking the latest in a series of targeted job cuts as it seeks to streamline operations and align with evolving product strategies. The affected unit oversees a broad range of Amazon’s hardware and technology projects, including Kindle […]

Netflix's ad-supported subscription plan rises to 94m users
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Netflix’s ad-supported subscription plan rises to 94m users

Netflix announced on Wednesday that its advertising-supported subscription plan has reached 94 million users, a sharp rise from 70 million in November. The surge highlights the growing appeal of lower-cost streaming options as consumers navigate ongoing global economic uncertainty. The video-streaming giant, which boasts over 300 million subscribers worldwide, said user engagement remains strong across […]

Warner Bros. Discovery rebrands streaming service as HBO Max
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Warner Bros. Discovery rebrands streaming service as HBO Max

In a move aimed at reigniting global interest and boosting subscriber numbers, Warner Bros. Discovery announced Wednesday that it will rebrand its flagship streaming platform as HBO Max this summer—reviving the prestigious HBO name it dropped two years ago. The decision marks a strategic pivot for the media giant, which had previously rebranded the service […]

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