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Nigeria’s exports to China jump 80% to $2.3bn

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Nike expands Chinese presence with new creative Hub in Shanghai 

Nike is launching Icon Studios, a new creative studio in Shanghai, China as part of its continued investment in one of its most important markets. The in-house division will focus on creating content such as digital videos, product photography, and projects for e-commerce, social media, and live streaming, according to recent job listings. In recent […]

Energy

FG vows to end N200bn solar panel imports

The Nigerian Federal Government has reiterated its commitment to ending the importation of photovoltaic solar panels, citing the substantial financial burden this practice imposes on the nation. The Managing Director/Chief Executive Officer of the Rural Electrification Agency, Abba Aliyu, disclosed this on Monday during a roundtable discussion held in Victoria Island between the REA and […]

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FG races to address GenCos’ N4tn debt

The Minister of Power has pledged to tackle the N4 trillion electricity debt owed to Generation Companies, following threats of a shutdown by electricity Distribution Companies on Monday. In response, the Minister’s Special Adviser, Bolaji Tunji, confirmed that the government is fully aware of the issue and is taking concrete steps to address it. Tunji […]

Zuckerberg testifies in Meta antitrust trial
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Zuckerberg testifies in Meta antitrust trial

Meta CEO Mark Zuckerberg took the stand Monday in a landmark antitrust trial that could reshape the social media landscape in the United States. The Federal Trade Commission is seeking to break up Meta’s empire, arguing that the company acquired Instagram in 2012 and WhatsApp in 2014 to eliminate competition and preserve its dominance. Filed […]

OpenAI mulls $500bn valuation in employee share sale talks
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OpenAI launches GPT-4.1 AI models with major upgrades, lower costs

OpenAI unveiled its latest suite of artificial intelligence models on Monday, introducing GPT-4.1 along with smaller variants GPT-4.1 Mini and Nano. The company says the new models mark a significant leap in capabilities, particularly in coding, instruction following, and long-context comprehension. Available exclusively via OpenAI’s application programming interface, the GPT-4.1 models outperform the company’s previously […]

Apple signals major AI spending shift, open to big acquisitions
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Apple overtakes Samsung as global smartphone leader

Apple claimed the top spot in global smartphone sales for the first quarter of 2024, fueled by robust demand for its iPhone 16 and surging sales in markets like Japan and India, according to data from Counterpoint Research released Monday. The tech giant captured 19% of the market, edging out rival Samsung, which held 18%, […]

Business

FG to expand Nigeria’s digital service providers across Africa

The Federal Government, through the Ministry of Industry, Trade, and Investment, has launched a new initiative to help Nigerian digital service providers expand across Africa. As part of this effort, the Ministry is inviting all digital service providers in Nigeria to participate in an official survey. This survey will collect information about their businesses and […]

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GenCos warn of imminent power crisis as debts exceed N4tn

The 23 power generation companies in Nigeria have raised the alarm that they can no longer ensure a stable electricity supply due to a worsening liquidity crisis in the power sector, as outstanding debts owed to them have now surpassed N4 trillion. Operating under the Association of Power Generation Companies, the firms made this known […]

News

China’s labour force faces hit as US export sectors shrink—Goldman Sachs

Goldman Sachs estimates that as much as 3% of China’s labour force—around 20 million people—could be impacted, particularly those working in sectors tied to United States bound exports. This follows the trade war between the U.S. and China, especially Trump’s imposition of high tariffs, which has created significant economic challenges for China. This slowdown, compounded […]

Business

Nigeria secures $1b investment to boost sugar production 

Nigeria has secured a $1 billion investment through a strategic partnership with Chinese conglomerate SINOMACH to enhance the nation’s self-sufficiency in sugar production. The agreement, formalized via a Memorandum of Understanding with the National Sugar Development Council, outlines plans to jointly develop a large-scale sugarcane cultivation and processing project within the country. This was disclosed […]

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