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Nigerian airlines, Boeing partner to strengthen aircraft acquisition, safety practices

Major Nigerian airlines, represented by the Airline Operators of Nigeria, have entered into a Memorandum of Understanding with Boeing to enhance aircraft acquisition and safety standards in the country. The agreement, aimed at advancing various aspects of Nigeria’s aviation industry, was finalized on Wednesday in Seattle, Washington. Led by Nigeria’s Minister of Aviation and Aerospace […]

Meta tests in-house AI chip to reduce reliance on Nvidia
Tech

Tech companies, banks using Llama AI models – Meta

Meta’s Llama artificial intelligence models are increasingly being adopted by major corporations, including Goldman Sachs and AT&T, for various business applications such as customer service, document review, and code generation. The social media giant disclosed this information in a statement on Thursday. Since Meta began releasing Llama models publicly last year, they have been downloaded […]

Australia fines Google $36m over anticompetitive search engine deals
News Tech

Google eyes hyperscale data center Investment in Vietnam

Alphabet’s Google is reportedly considering a significant investment to establish a hyperscale data center in Vietnam, marking the first major venture of its kind by a leading U.S. tech company in the country. According to a source familiar with the matter, Google is exploring the development of the data center near Ho Chi Minh City, […]

Top 10 employers in Nigeria
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Top 10 employers in Nigeria

The Nigerian job market is marked by a complex blend of opportunities and hurdles, continually shifting due to the efforts of key players across various sectors. Recent data from the National Bureau of Statistics highlights a challenging period for employment, with the unemployment rate rising to 5.0% in Q3 2023, up from 4.2% in Q2 […]

Naira crosses N1,000/$ in parallel market
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Currency outside banks drops to N3.66tn in July 

The amount of currency outside the Nigerian banking system fell to N3.66 trillion in July 2024, marking a 3.32% decrease from the previous month’s figure of N3.79 trillion. This decline, the second this year, reflects the Central Bank of Nigeria’s continued efforts to tighten liquidity and encourage the deposit of funds into the formal banking […]

X poised for first ad revenue growth since Musk takeover
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Brazil threatens to suspend Elon Musk’s X

Brazilian Supreme Court Justice Alexandre de Moraes on Wednesday issued a ruling requiring billionaire Elon Musk to appoint a legal representative for his messaging platform X in Brazil within 24 hours. Failure to comply could result in the suspension of X’s operations in the country, according to the court’s decision. Earlier this month, X announced […]

Toyota suffers sixth straight monthly production decline
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Toyota suffers sixth straight monthly production decline

Toyota Motor announced on Thursday that its global production decreased for the sixth consecutive month in July. The company reported a 1% drop in output compared to the same month last year, totaling 804,610 vehicles. This decline was less severe than the double-digit reductions experienced in previous months. Production in key markets saw notable decreases, […]

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Fuel scarcity: Marketers blame bad roads for distribution delays

The President of the Natural Oil and Gas Suppliers Association of Nigeria, Mr Benneth Korie, has identified inadequate road infrastructure as a key factor contributing to delays in petroleum product distribution. Korie made this disclosure at a press briefing in Abuja on Wednesday, according to The Punch. Korie highlighted the pressing need for improvements in […]

News Oil and Gas

NIPCO, NGML launch power projects in Lagos

NIPCO Gas, in partnership with Nigerian National Petroleum Company Gas Marketing Limited has launched the Lekki Gas Distribution Project and the Lekki Power Plant. The collaboration between NIPCO Gas and NGML began in June 2022 with the aim of supplying and distributing natural gas in the Lekki Gas Distribution Area, according to The Punch. In […]

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20 states govt houses, MDAs owe N144bn electricity debt – EkoDisCo

The acting Managing Director of the Eko Electricity Distribution Company, Mrs Rekhiat Momoh, has revealed that the company is owed ₦144 billion by various ministries, departments, and agencies within its service area. This was disclosed by Mrs. Momoh during a visit by the House of Representatives Committee on Privatisation and Commercialisation to the company’s office […]

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Electricity consumers to spread meter payment over 10 year – Minister 

Minister of Power, Adebayo Adelabu, announced that electricity consumers receiving free prepaid meters will have up to 10 years to repay the cost. This clarification counters previous claims that customers who pay for their meters would receive refunds through energy credit, according to The Punch. Speaking recently in Ibadan, Adelabu acknowledged the rising costs of […]