OpenAI to Halve Microsoft Revenue Share Amid Corporate Restructuring
OpenAI has informed investors that it plans to significantly reduce the share of its revenue going to Microsoft as part…
Month: May 2025
US-China Trade Talks Signal De-escalation, But Breakthrough Unlikely
After weeks of speculation, it’s official: top U.S. and Chinese trade officials will meet this weekend in Geneva. But let’s…
Nigeria Must Strengthen AI Regulations to Build Trust and Innovation, Says Microsoft MD
To fully harness the potential of Artificial Intelligence (AI), Nigeria needs to establish a robust regulatory framework, according to Ola…
FMCG Firms See Profits Surge by Over 100% Amid Naira Stability in Q1 2025
The first quarter of 2025 has brought significant financial relief for several fast-moving consumer goods (FMCG) firms in Nigeria, as…
Nigeria’s Internet Usage Declines After 50% Telecom Tariff Hike, Yet MTN Posts Record Data Revenue
Internet usage in Nigeria saw a slight drop following a 50% increase in telecom tariffs approved by the Nigerian Communications…
Microsoft Officially Shuts Down Skype After 22 Years, Shifting Focus to Teams
Microsoft has officially ended support for Skype after 22 years of service, signaling a shift toward its more modern collaboration…
Naira Holds Steady at ₦1,608/$1 as Oil Prices Rebound, Experts Urge Policy Reform
The Nigerian naira maintained relative stability in the parallel market on Tuesday, trading around ₦1,608–₦1,610 per dollar amid a rebound…
GUTA Hails BoG for Cedi Stability, Signals Renewed Business Confidence-GHANA
The Ghana Union of Traders’ Associations (GUTA) has expressed strong approval of the Bank of Ghana’s management of the forex…
Agriculture, Mining Fuel Investment Boom in Taraba Ahead of Taravest 2025
Taraba State is rapidly becoming a magnet for investment in Nigeria’s North-East, with its rich agricultural base, vast mineral deposits,…
Gencos Urge Urgent Meeting with Tinubu Over ₦4.7tn Power Sector Debt
Electricity generation companies (Gencos) are pressing for an immediate meeting with President Bola Tinubu over the massive ₦4.7 trillion debt…
MTN Nigeria Fintech Revenue Soars 58% on Airtime Lending Surge
MTN Nigeria recorded a significant 57.9% year-on-year jump in its fintech revenue, reaching ₦36.1 billion in Q1 2025, largely fueled…
African Start-ups Raise $803M in Q1 2025 as Investor Confidence Rebounds
African start-ups raised a remarkable $803 million in Q1 2025 across 163 deals, marking a 43% increase from the same…
Finance Ministry Refutes N13 Billion Corruption Allegation in CNG Project
The Federal Ministry of Finance has strongly denied allegations of corruption tied to a N13 billion contract related to the…
Nigeria Poised to Surpass IMF’s 3% Growth Forecast for 2025, Say Market Experts
Despite the International Monetary Fund (IMF) projecting Nigeria’s economy to grow by 3.0% in 2025—a slight revision from its earlier…
OpenAI Moves to Acquire AI Coding Startup Windsurf in Landmark $3 Billion Deal
In a strategic move to expand its influence in the AI-powered software development market, OpenAI has entered an agreement to…
Nigerian Stock Market Sees N412 Billion Surge, Led by Gains in 35 Stocks
The Nigerian equities market began the week on a positive note, with investors gaining N412 billion, driven by impressive performances…
FG Charts Path to 7% Economic Growth: EMT Strategizes Inclusive Reforms for National Development
The Federal Government has tasked the Economic Management Team (EMT) with designing a strategic roadmap aimed at achieving a 7%…
Nigerian Business Leaders Share Survival Tactics for Startups Battling Economic Challenges
At a time when economic uncertainty looms large over Nigeria’s startup ecosystem, several industry leaders have come forward with pragmatic…
Nigeria Joins Asian Infrastructure Investment Bank to Boost Growth, Infrastructure, and Investor Confidence
Nigeria has officially become a full member of the Asian Infrastructure Investment Bank (AIIB), following the Federal Executive Council’s (FEC)…
Naira Strengthens to ₦1,600/$ in Parallel Market Amid Modest FX Gains
The Nigerian naira appreciated to ₦1,600 per U.S. dollar in the parallel market as of Monday, May 6, 2025, marking…
Accelerex and ITEX Join Zone’s Blockchain Network for Real-Time Payment Settlements
Nigeria’s top payment terminal service providers, Accelerex and ITEX, have announced their integration into Zone’s regulated blockchain network to enhance…
Nigeria Leads AI Innovation at Dubai Forum: A Bold Step for Global Tech Diplomacy
Nigeria made a powerful statement at the Dubai AI Week 2025, underscoring its rising influence in the global digital economy.…
Oil Prices Plunge to Four-Year Low as OPEC+ Fast-Tracks Output Hikes
Oil prices took a sharp dive on Monday, slumping to levels not seen since early 2021. Both Brent crude and…
Nigeria’s FX Inflows Dip 5.7% in April Amid Global Trade Tensions, Weak Foreign Investor Sentiment
Nigeria’s foreign exchange market took a hit in April as total FX inflows fell by 5.7% month-on-month, dragged down by…
U.S. Pushes to Break Up Google’s Ad-Tech Monopoly Following Judge’s Ruling
The U.S. Department of Justice has taken a bold step by seeking a breakup of Google’s ad-tech business after a…
Global Markets Steady as Dollar Firms and Asian Currencies Surge Amid Trade Uncertainty
Global markets remained largely flat on Tuesday as investors treaded carefully ahead of Wednesday’s U.S. Federal Reserve policy decision and…
Emerging Market Bonds Surge as U.S. Treasurys Lose Safe-Haven Status Amid Trump’s Tariffs
In the wake of U.S. President Donald Trump’s announcement of new tariffs, investors are increasingly turning to emerging market local…
Investors Gain N412bn as NGX Opens Week Strong with Broad-Sector Rally
The Nigerian Exchange (NGX) kicked off the week with solid momentum as investor confidence fueled a 0.62% surge in the…
BoG Injects $20M to Support 11 BDCs, Stabilize Cedi and Fuel Supply-GHANA
In a bid to steady the cedi and keep fuel prices in check, the Bank of Ghana (BoG) has pumped…
CBN reforms reshape external sector amid diaspora inflows
Nigeria’s external sector is going through a serious transformation, with the Central Bank’s foreign exchange reforms at the center of…