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Microsoft warns Africa risks becoming AI consumer

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Tony Elumelu’s Heirs Holdings stake in Seplat crosses $1bn

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EFCC charges two over alleged unlawful supply of FCMB

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NNPCL reports N2.69trn in tax expenses for 2023
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NNPC, BUA partner to construct mini gas plants in Kogi

The Nigerian National Petroleum Company Limited will inaugurate the construction of five mini-liquefied natural gas plants in Kogi State today. This follows the signing of a shareholders’ agreement between NNPC Gas Marketing Ltd and BUA Group for the development of a 45 million standard cubic feet mini-LNG plant in Ajaokuta. The five mini-LNG plants include […]

Meta unveils John Cena, Kristen Bell, others as new AI voice clones
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Meta will maintain AI spending despite DeepSeek breakthrough – Zuckerberg

Meta CEO Mark Zuckerberg stated on Wednesday that it’s too early to assess the impact of DeepSeek’s breakthrough AI model on his company and the wider tech industry. However, he dismissed the idea that Meta’s AI spending would decrease, despite DeepSeek’s claims that advanced AI can be developed with significantly fewer resources and lower costs […]

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Shell, S’African partner near $1bn oil-asset sales deal

Shell Plc and its South African partner are close to settling a valuation dispute, which would allow for the sale of Shell’s local downstream assets, potentially worth up to $1 billion, according to sources familiar with the situation. The company operates 600 service stations across South Africa, while Thebe Investment Corp., a Black-owned firm, holds […]

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Toyota retains world’s top carmaker for fifth year

Toyota Motor Corp. sold 10.8 million cars in 2024, a slight decrease from the previous year but sufficient to retain its title as the world’s largest carmaker for the fifth consecutive year. Despite a 3.7% drop in global sales, including those from subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., Toyota outpaced Volkswagen AG, which […]

Trump considers sanctions against China’s DeepSeek
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DeepSeek yanked off Apple, Google stores over Italy privacy probe

The Chinese artificial intelligence app DeepSeek became inaccessible in Italy on Wednesday on Apple and Google app stores, a day after the country’s data protection authority sought details on its handling of personal data. Ireland’s Data Protection Commission also confirmed that it had requested information from DeepSeek regarding data processing practices concerning Irish users. DeepSeek […]

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Oil prices fall as US stockpiles rise

Oil prices dropped on Wednesday, with the U.S. benchmark hitting a multi-week low after crude stockpiles in the world’s leading oil producer and consumer rose more than expected last week. Brent crude futures fell by 60 cents, or 0.8%, to $76.89 per barrel, while U.S. crude futures dropped 84 cents, or 1.1%, to $72.93, according […]

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Dangote-backed investors to acquire Kenyan coffee chain, Java House

A private equity firm backed by Aliko Dangote is preparing to enter Kenya’s food and beverage market by acquiring Java House, a leading coffee chain in the country. Alterra Capital, an Africa-focused private equity fund with Dangote among its key investors, is partnering with Phatisa Group to purchase the restaurant chain from UK-based investment firm […]

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Lagos court reverses freezing order on GHL’s assets

The Federal High Court in Lagos has lifted a Mareva injunction that had frozen the assets of the company and its directors. The court’s decision followed compelling arguments from GHL’s legal team, led by Abiodun Layonu, SAN, and Olumide Aju, SAN, who represented the second to fifth defendants in the case. Justice Dehinde Dipeolu’s ruling […]

Opay, Palmpay, others facilitate N46.6trn transactions in 2023 - NIBSS
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Nigeria’s e-payment transactions hit N1.07quadrillion in 2024

Electronic payment transactions in Nigeria soared to N1.07 quadrillion in 2024, marking a historic milestone as the first time the country has reached the quadrillion mark. Data from the Nigeria Inter-Bank Settlement System reveals that the value of transactions on the NIBSS Instant Payment platform surged by 79.6%, compared to N600 trillion in 2023. The […]

No injuries from accidental flight takeoff - Max Air
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Kano Airport runway shut over Max Air tyre burst

The runway at Malam Aminu Kano International Airport has been temporarily closed for inspection and clearance following a tyre burst on a Max Air plane during landing on Tuesday night. The aircraft, Flight VM1605 (registration 5N-MBD), suffered the tyre burst at 10:57 p.m. Fortunately, all 53 passengers and crew were safely evacuated without injuries. The […]

Alibaba to raise HK$12bn in exchangeable bonds
Tech

Alibaba launches AI model, claims it surpasses DeepSeek-V3

Chinese tech company Alibaba launched a new version of its Qwen 2.5 artificial intelligence model on Wednesday, claiming it surpassed the highly-regarded DeepSeek-V3. The timing of the Qwen 2.5-Max’s release, coinciding with the first day of the Lunar New Year when most Chinese people are off work, reflects the pressure DeepSeek’s rapid rise in the […]

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FG grants 25-year license to 10 gas distribution companies

The Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has granted 25-year gas distribution licenses to 10 companies for the establishment and operation of gas networks. These licenses, focused on promoting domestic gas use, cover franchise areas in Lagos, Ibadan, Port Harcourt, and Benin City. The goal is to ensure natural gas […]

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