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Tag: Nigeria

FG advocates for strict regulation of tobacco industry
Business

FG advocates for strict regulation of tobacco industry

The Federal Government has emphasized that the tobacco sector must be strictly regulated in conformity with national legislation and international best practices. The PUNCH reported that the coordinating Minister of Health and Social Welfare, Prof. Ali Pate, announced this recently in Lagos during the formal lunch of the Federal Competition and Consumer Protection Commission’s tobacco control […]

NGX to draw in more investors - CEO
featured

NGX to draw in more investors – CEO

The Group Managing Director and Chief Executive Officer-designate of the Nigerian Exchange Group Plc, Temi Popoola, has presented a strategy for bridging the gap between Nigeria’s millions of bank accounts and the existing number of market investors. Popoola, who took over the exchange’s leadership on the final trading day in 2023, made the remarks on […]

Nigeria, Morocco speed up talks on $30bn gas pipeline
Oil and Gas

Nigeria, Morocco speed up talks on $30bn gas pipeline

The Federal Government has stepped up talks with the Kingdom of Morocco in an effort to expedite the process of reaching a Final Investment Decision on the $30 billion Nigeria-Morocco Gas Pipeline. According to The PUNCH, both countries discussed the agreement on the sidelines of a meeting between the Minister of State for Petroleum Resources, […]

Special Economic Zones amass $66bn foreign investment - Report
Business

Special Economic Zones amass $66bn foreign investment – Report

Nigeria’s Special Economic Zones have received more than $66 billion in foreign direct investment and N620 billion in domestic direct investment. The PUNCH reported that the Chairman of the Nigeria Economic Zones Association, Nabil Saleh, said this at the association’s annual general meeting on Wednesday in Lagos. He stated that the investments have resulted in the creation […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Investment

AfDB to partner Enugu govt on investment drive

The African Development Bank has reiterated its willingness to collaborate with the Enugu State Government to increase investment and infrastructure development. The PUNCH reported that during a meeting with Governor Peter Mbah at Government House, the Director-General of AfDB’s Nigeria Country Department, Lamin Barrow, stated that Nigeria was crucial to AfDB’s programs. According to him, the first […]

Microsoft lays off 1,900 staff from gaming division
Tech

Microsoft lays off 1,900 staff from gaming division

Microsoft said on Thursday that the company will be laying off 1,900 staff from Activision Blizzard and Xbox this week. The majority of the layoffs, which amount to around 8% of the whole Microsoft Gaming division, will be made at Activision Blizzard. Along with the departure of Chief Design Officer Allen Adham and Blizzard President […]

Apple to allow downloads outside App Store
Uncategorized

Apple to allow downloads outside App Store

Apple on Thursday made its plans to let app developers distribute their products to EU consumers outside of Apple’s App Store. The action is in response to the Digital Markets Act, a new EU law that mandates, among other things, that businesses with a market capitalization of 75 billion euros ($82 billion) or more and […]

Tech

PayPal launches AI-powered products

PayPal on Thursday, announced the launch of innovative products powered by artificial intelligence, including a streamlined one-click checkout feature. This marks the first significant initiative under the leadership of Alex Chriss as CEO, who joined the company in September. These new offerings highlight the ongoing trend of companies leveraging investor excitement around AI, a factor […]

Aviation

US aviation allows Boeing 737 Max 9 flights, imposes production limits

The United States Federal Aviation Administration has announced a conditional pathway for the resumption of Boeing 737 Max 9 flights, but a crucial restriction prevents Boeing from expanding production of its Max jets, including the 737-9 Max variant. The Times reported that this decision follows a previous incident in which a part of an Alaska Airlines […]

Iranian hackers target US elections, Microsoft warns
Crypto

Hackers stole $1.7bn crypto in 2023 – Report

In 2023, cryptocurrency platforms experienced approximately $1.7 billion in theft due to hacker attacks, a significant drop of 54.3% from the previous year, a report released by Chainalysis on Wednesday said. The crypto industry continues to grapple with cyber attacks, which remain a major concern and contribute to the skepticism of regulators worldwide towards cryptocurrencies. […]

Maize, paddy rice prices to increase in 2024 - AFEX
Business

Maize, paddy rice prices to increase in 2024 – AFEX

AFEX forecasts that maize and paddy rice prices in Nigeria will climb by 25% and 40%, respectively, this year. The forecast was included in the report, which was released on Wednesday in Lagos. Maize prices fluctuated substantially in 2023, peaking at N550,000/mt in Q3 and closing at N480,000/mt. AFEX also predicted that key export commodities […]

NNPCL fuel subsidy gains not fully remitted - World Bank
Economy

W’Bank predicts 3.7% growth for Nigeria’s economy in 2025

The World Bank’s recent report, “Global Economic Prospect: Subdued Growth, Multiple Challenges,” estimated that Africa’s largest economy will grow by 3.3%, up from 2.9% in 2023. According to the research, “Growth in Nigeria is projected to be 3.3% this year and 3.7% in 2025—up 0.3 and 0.6 percentage points, respectively, since June—as macroeconomic reforms gradually […]

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