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Economy

FG rules out fuel subsidy return, backs market pricing policy

The federal government has ruled out any return to fuel subsidies or the introduction of price controls, reaffirming its commitment to market-driven economic policies. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made this known on Tuesday in Paris, stating that subsidy regimes distort the economy and will not be reinstated. He […]

Investment

Tinubu woos investors in Paris, pledges fiscal discipline transparency

President Bola Tinubu has met with global investors in Paris, France, emphasising transparency and fiscal discipline, and explaining the rationale for the swift implementation of bold reforms. Vanguard reported that at the meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, highlighted Nigeria’s strong GDP growth in dollar terms in […]

Travel

Nigerian passport rises in rank, loses visa free access

The Nigerian passport climbed six places on the Henley Passport Index since President Bola Tinubu assumed office in May 2023, rising from a global rank of 95 in January 2024 to 89 in the latest April 2026 edition. However, the actual number of countries Nigerian passport holders can visit without a visa has fallen by […]

News

NASU, SSANU to suspend university strike from May 11

Non-academic staff in Nigeria’s public universities have moved to suspend their ongoing nationwide strike, raising hopes for the resumption of full academic activities across campuses. The Joint Action Committee of the Non-Academic Staff Union of Educational and Associated Institutions and the Senior Staff Association of Nigerian Universities directed its branches to commence processes for the […]

ChatGPT’s AI image feature delayed for free users
Tech

OpenAI unveils GPT-5.5 Instant as new default ChatGPT model

OpenAI introduced a new foundation model, GPT-5.5 Instant, set to replace GPT-5.3 Instant as the default model in ChatGPT. The company on Tuesday said the upgrade reduces hallucinations in high-stakes areas such as law, medicine, and finance, while preserving the fast response times of the previous version. GPT-5.5 was originally released last month, with OpenAI […]

Elon Musk announces upcoming release of AI chatbot Grok 3
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Musk wanted $80bn to colonize Mars, says OpenAI president

OpenAI’s president testified on Tuesday that Elon Musk supported transforming the artificial intelligence startup into a for-profit company, but wanted full control in part to help him raise $80 billion to colonize Mars. Greg Brockman’s testimony came during the second week of a California trial that could shape the future of OpenAI, the company that […]

American company PayPal has introduced a new cryptocurrency stablecoin called PayPal USD.
Tech

PayPal bets on AI turnaround amid slumping shares, job cuts

In the face of falling share prices and anticipated job cuts, PayPal is charting a future-focused turnaround built on artificial intelligence. During the company’s first-quarter earnings call, CEO Enrique Lores struck a candid tone, telling investors that PayPal must “recommit to the fundamentals” — specifically, by “becoming a technology company again.” The message behind his […]

Tech

Meta deploys AI scan to detect under-13 users

Meta announced Tuesday that it will begin using artificial intelligence to analyze photos and videos for visual indicators that could suggest a user is under 13, potentially leading to their removal from Facebook and Instagram. The system may assess cues such as height and bone structure, the company said. “We want to be clear: this […]

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Oil prices fall as Trump pauses Hormuz naval escort

Oil prices slipped on Wednesday after President Donald Trump said the United States would temporarily pause its naval escort operations in the Strait of Hormuz, raising expectations of a possible breakthrough in talks with Iran. Brent crude futures for July delivery fell 1.21 per cent to $108.54 per barrel, while West Texas Intermediate dropped 1.76 […]

Samsung blames US AI chip sanctions for profit slump, shares dip
Tech

Samsung surpasses $1tn valuation as AI boom drives rally

Shares of Samsung Electronics jumped over 15 per cent on Wednesday, lifting the chipmaker’s market value above $1 trillion as investors continued to rush into artificial intelligence-related stocks. Samsung becomes the second Asian firm to surpass the $1 trillion valuation milestone, following TSMC. According to FactSet data, the company first reached that level on February […]

Hundreds of passengers stranded as Lufthansa pilot diverts Lagos-bound flight
Aviation

Lufthansa faces €1.7bn fuel cost surge amid Middle East conflict

Germany’s largest airline, Lufthansa, has reported that it is facing about €1.7 billion (nearly $2 billion) in additional fuel costs, as the ongoing Middle East conflict creates what it described as “enormous challenges.” In its first-quarter earnings released on Wednesday, the airline said it has hedged 80 per cent of its jet fuel requirements but […]

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