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Nigeria secures $155m clean energy investments

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NRS urges businesses to adapt as phased e-invoicing implementation begins

Businesses will need to upgrade their tax and accounting systems as Nigeria transitions to a digital tax administration regime driven by electronic invoicing, the Nigeria Revenue Service has said. The e-invoicing framework is being introduced in phases to improve transaction visibility, curb revenue leakages and strengthen tax compliance by giving authorities access to more accurate […]

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FG deploys N501bn to settle power sector debts

The Federal Government on Tuesday said it had met all obligations under the first tranche of its power sector debt financing programme, revealing that about N501bn had been deployed to settle part of the long-standing legacy debts owed to electricity generation companies and that the first bond coupon was paid on schedule. The government said […]

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Lagos seeks Assembly’s approval for N200bn infrastructure bond

The Lagos State Government has sought the approval of the State House of Assembly to raise a N200 billion bond to finance critical infrastructure projects across the state. The request was contained in separate letters presented by the Commissioner for Finance, Abayomi Oluyomi, and read during Tuesday’s plenary, according to the News Agency of Nigeria. […]

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FG unveils N729bn bond to clear power sector debts

The Federal Government has launched a N729 billion bond under the second series of its Presidential Power Sector Debt Reduction Programme to settle verified legacy debts owed to electricity generation companies and support payments to power generators, gas suppliers and other service providers. The bond was launched in Abuja by the Nigerian Bulk Electricity Trading […]

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Zuckerberg overtakes Michael Dell as World’s fifth-richest person

Meta CEO Mark Zuckerberg has become the world’s fifth-richest person after overtaking Dell Technologies CEO Michael Dell, according to Forbes’ real-time billionaire rankings. Zuckerberg’s net worth rose to $222.1 billion, placing him ahead of Dell, whose fortune fell to $141 billion after Dell shares dropped more than 3 per cent on Monday, July 20. The […]

Tech

OpenAI sees surge in AI agent demand after ChatGPT work launch

OpenAI has recorded a sharp increase in demand for its artificial intelligence agents following the recent launch of ChatGPT Work, giving the company fresh momentum in its efforts to compete with rival Anthropic PBC. The increased demand comes as OpenAI expands its focus beyond chatbot services and pushes further into AI agents designed to perform […]

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GM revives gas-powered Cadillac lineup amid EV pullback

General Motors will begin launching new gas-powered Cadillac models next spring as the automaker continues to scale back its focus on all-electric vehicles. GM CEO Mary Barra said on Tuesday that the next-generation Cadillac lineup will include new versions of the CT5 sedan, the ageing XT5 midsize SUV and the discontinued three-row XT6 SUV. “Starting […]

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Google launches new Gemini models as AI competition intensifies

Alphabet is rolling out three new Gemini models on Tuesday, including its strongest push yet to challenge Anthropic’s lead in cybersecurity, as the company seeks to demonstrate progress across a product pipeline facing delays and intensifying competition. The new Gemini 3.5 Flash Cyber model is designed to identify and patch software vulnerabilities. It will initially […]

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CBN holds MPR at 26.5% amid efforts to tame inflation

The Central Bank of Nigeria has left the Monetary Policy Rate, the country’s benchmark interest rate, unchanged at 26.5 per cent as the Monetary Policy Committee maintained its tight monetary policy stance. CBN Governor, Olayemi Cardoso, announced the decision at the end of the 306th MPC meeting held in Abuja on July 20 and 21, […]

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AI could boost Sub-Saharan Africa’s economy by 4% – IMF

Sub-Saharan Africa could increase its economic output by about 4 per cent over the next decade through artificial intelligence, according to a new paper by the International Monetary Fund. However, the IMF warned that the region can only realise this potential if it urgently addresses critical gaps in electricity access, internet connectivity and digital skills. […]

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Rep member faces petition over alleged unpaid travel bills

A member of the House of Representatives representing Obudu/Bekwarra/Obanliku Federal Constituency of Cross River State, Peter Akpanke, has been petitioned over an alleged outstanding travel debt of more than N19.15m linked to the procurement and reissuance of international and domestic airline tickets. The petition, addressed to the Independent Corrupt Practices and Other Related Offences Commission […]

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NUPRC opens bidding for 50 oil, gas blocks

The Nigerian Upstream Petroleum Regulatory Commission will on Tuesday commence the decisive commercial phase of the 2025 oil and gas licensing round, with 143 companies competing for 50 blocks across Nigeria’s major and emerging hydrocarbon basins. The invitation-only commercial bid conference is scheduled to take place at the Conference Centre of the Transcorp Hilton Hotel […]

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