The African Development Bank (AfDB) and Google LLC have strengthened their partnership to grow Africa’s burgeoning digital economy with the signing of a Letter of Intent during the Global Africa Business Initiative at the United Nations General Assembly in New York. Analysts estimate that Africa’s digital economy is valued at $115 billion and project that […]
Latest Nigeria’s Purchasing Managers Index (PMI) report indicated that the index dropped to 50.2 in August, down from 51.7 in July, which showed that efforts by the government to grow the economy are yielding minimal impact with the MPI marking the lowest rate over the past five months. As expected the report is sending worrying […]
…becomes first state-owned oil firm to sign Initiative The Nigerian National Petroleum Company Limited (NNPCL) has signed the United Nations Global Compact Letter of Commitment as a participant at the ongoing 78th United Nations General Assembly (UNGA) in New York, United States. The company confirmed its signing for the global initiative letter in a statement […]
President Bola Tinubu has advised foreign investors to explore for good returns the opportunities in the Nigerian economy through investments. Tinubu made the appeal on Wednesday in New York, when he rang the NASDAQ’s closing bell as part of the proceedings at the Executive Business Dialogue in the United States. Speaking at the event, the […]
Elon Musk has suggested that all users of social media platform X could be required to pay to use the service in an effort to stop bots on the site. Speaking during a live-streamed conversation on artificial intelligence (AI) with Israeli Prime Minister Benjamin Netanyahu on Monday, the billionaire said the company is “moving towards […]
The Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Halilu and the Managing Director/CEO of the Rural Electrification Agency (REA), Mr. Ahmad Salihijo Ahmad have agreed to work together to deploy NASENI solar resources and other renewable energy technologies to increase electricity supply to Nigeria’s rural areas. The […]
The Michael Imoudu National Institute of Labour Studies (MINILS) has decorated the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, with the award of Fellowship of the Nigeria Institute of Labour (NIL) under the Federal Ministry of Labour and Employment. At the conferment ceremony in Abuja, which was part of the […]
The African Union (AU) is making arrangements to launch a credit rating agency for the continent in the coming year as part of its efforts to address concerns about the fairness of existing ratings assigned to African economies by foreign rating agencies. A top official of the AU, Misheck Mutize, who serves as the lead […]
The Nigerian Oil Spill Detection and Response Agency (NOSDRA) has reported that Nigeria lost more than $14.6 billion worth of revenue to more than 4.2 billion standard cubic feet of gas flared between 2012 and 2021, in addition to the $8.3 billion loss in a penalty for the wastages. The NOSDRA’s Director of ICT, Mrs. Margaret […]
Investors in Nigeria’s equities market on Monday lost about N464.3 billion as the market reacted to the downgrade of the Nigerian Exchange Limited (NGX) by FTSE Russell, a global index issuer. FTSE Russell, UK-based firm, had downgraded the Exchange from “Frontline” to “Unclassified Market” and hinted that the NGX would be reclassified by September 18, […]