Money continues to flow into artificial intelligence companies even as AI stocks struggle. Microsoft and Nvidia are leading the latest wave, committing a combined $15 billion to Anthropic, a competitor to OpenAI. The deal highlights a growing pattern in the AI sector: major companies invest in startups while simultaneously selling services back to their investors. […]
Year: 2025
President Bola Tinubu Travels to South Africa and Angola for G20 and AU-EU Summits
President Bola Tinubu will today begin a two-nation diplomatic visit to Johannesburg, South Africa, and Luanda, Angola, to participate in the G20 and AU-EU summits. According to Bayo Onanuga, the President’s Special Adviser on Information and Strategy, Tinubu’s itinerary starts in South Africa before proceeding to Angola for the African Union-European Union meeting. In Johannesburg, […]
Nigerian Stocks Stall After N7 Trillion Loss Amid Market Volatility
The Nigerian Exchange (NGX) All-Share Index (ASI), which has enjoyed a remarkable rally this year thanks to economic reforms and strong corporate earnings, is showing signs of cooling. After reaching record highs earlier in 2025, the market has lost over N7 trillion in value this month, signaling that the earlier bull run may be losing […]
NGX Tech Listings Stalled as Awareness Gap Drives Startups Toward Acquisitions
Nigeria’s technology startups are showing little interest in listing on the Nigerian Exchange Limited (NGX), with a new report pointing to a significant awareness gap as a key obstacle. The study, Rethinking Funding and Exits: Nigeria’s Missing IPOs and the NGX, by TLP Advisory, identifies systemic barriers that limit the ability of high-growth startups to […]
Nigeria’s Pension Fund Hits N26 Trillion as Assets Grow 22% in 12 Months
Nigeria’s pension fund assets have soared to N26.09 trillion as of September 2025, marking a 22.03% year-on-year growth, according to the latest report by the National Pension Commission (PenCom). This represents an increase of over N4.71 trillion from September 2024, reflecting robust expansion in the country’s Contributory Pension Scheme. Pension Fund Administrators (PFAs) continue to […]
E-Cedi to Strengthen Ghana’s Monetary Sovereignty and Reduce Forex Dependence – Ecobank MD
The Managing Director of Ecobank Ghana, Abena Osei-Poku, has highlighted the pivotal role of the E-Cedi in reinforcing Ghana’s monetary sovereignty and cutting the country’s reliance on foreign currencies. Speaking at the Currency Anniversary Conference in Accra on November 18, 2025, as part of the Cedi@60 celebrations, she emphasized that digital payment reforms and the […]
TotalEnergies Eyes Nigeria’s 2025 Oil Licensing Round After 2024 Block Wins
French energy giant TotalEnergies has expressed keen interest in participating in Nigeria’s upcoming 2025 oil licensing round, building on its success in securing two offshore oil blocks during the 2024 mini-bid round. The company’s President for Exploration and Production, Nicolas Terraz, led a delegation to meet the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) CEO Gbenga […]
TikTok Lets Users Control How Much AI-Generated Content They See
TikTok is giving users more control over their feeds by introducing a new feature that lets them adjust how much AI-generated content they see. Once known primarily for user-created videos, the platform now allows people to personalize their “For You” feed with a slider for AI content, alongside existing controls for topics like Dance, Sports, […]
PTAD Disburses N3.9 Billion Arrears to 91,146 Pensioners Under Defined Benefit Scheme
The Pension Transitional Arrangement Directorate (PTAD) has successfully disbursed a total of N3.9 billion in arrears to 91,146 eligible pensioners under the Defined Benefit Scheme (DBS), the Executive Secretary, Tolulope Odunaiya, confirmed. This payment is part of the N32,000 increment approved by President Bola Ahmed Tinubu to enhance pensioners’ welfare. According to Odunaiya, the disbursement […]
Global Internet Users Rise by 240 Million in 2025 Amid Cost and Accessibility Challenges
Global digital connectivity continues to expand, with an estimated 240 million people joining the online world in 2025, according to the International Telecommunication Union (ITU). The new data brings the total number of Internet users worldwide to around six billion—approximately three-quarters of the global population—up from 5.8 billion in 2024. Despite this growth, 2.2 billion […]
Internet banking overtakes ATM, PoS as transaction values surge to ₦542.98trn
Banking transactions conducted through Web Pay, also known as internet banking, surged to ₦542.98 trillion in the first quarter (Q1) of 2025, reflecting customers’ growing preference for digital channels over Automated Teller Machines (ATMs) and Point of Sale (PoS) terminals. Data from the Central Bank of Nigeria (CBN) showed that the value of Web Pay […]
Nigeria’s Foreign Reserves Soar to $46.7 Billion, Boosting Naira and Investor Confidence
Nigeria’s foreign reserves have surged to $46.7 billion as of November 14, 2025, marking the highest level in seven years and providing 10.3 months of import cover for goods and services, the Central Bank of Nigeria (CBN) has revealed. The announcement, made during a colloquium celebrating the 20th anniversary of the Bank’s Monetary Policy Department […]
Fintechs Usher in a New Era as Nigeria’s NPS Launches Instant, Data-Rich Payments
Nigeria’s fintech ecosystem is entering a transformative phase as the National Payment Stack (NPS) officially debuts with its first live transaction. The historic transfer between PalmPay and Wema Bank signals the nation’s shift to a next-generation, unified payment infrastructure designed to streamline digital transactions and enhance financial services across the country. Developed by the Nigeria […]
Seplat Energy Chairman Udoma to Lead 2025 PEARL Awards Nite in Lagos
The Board of Governors of the PEARL Awards Nigeria has announced that Mr. Udoma Udo Udoma, Chairman of Seplat Energy and former Chairman of the Securities and Exchange Commission (SEC), will chair the 2025 PEARL Awards Nite. The prestigious event is set to be hold in Lagos on November 30, 2025, and marks the 30th […]
Nigeria’s Foreign Reserves Hit 7-Year High of $46.7 Billion Amid Economic Recovery
Nigeria’s foreign-exchange reserves have climbed to a seven-year high of $46.7 billion, the Central Bank of Nigeria (CBN) announced on Tuesday. The surge, driven by stronger oil receipts, sustained balance-of-payments inflows, and renewed investor confidence, positions the country to cover 10.3 months of imports, marking a significant milestone in Nigeria’s economic recovery. CBN Governor Olayemi […]
European Markets Slip as Investors Await Nvidia Earnings and UK Inflation Cools
European markets were on track for a cautious start Wednesday as investors turned their focus to Nvidia’s highly anticipated earnings report. With global tech stocks under renewed pressure, traders across Europe adopted a wait-and-see approach, reflecting the fragile sentiment surrounding the AI-driven rally that has dominated markets this year. Early projections showed the U.K.’s FTSE […]
Nigeria Surpasses 1.7m Barrels Per Day as Oil Output Rebounds — NUPRC
Nigeria’s oil production has crossed the 1.7 million barrels per day (bpd) mark multiple times in 2025, signaling a strong rebound in the country’s upstream performance. This milestone was confirmed by the Nigerian Upstream Regulatory Commission (NUPRC), which said the feat reflects renewed investor confidence and operational improvements across the sector. Speaking at a capacity-building […]
Seplat Empowers 25 Imo Journalists Through Two-Day Media Capacity Workshop
Seplat Energy Plc has reaffirmed its commitment to strengthening Nigeria’s media landscape by hosting a two-day intensive workshop for journalists in Imo State. The training, held in Owerri, brought together 25 reporters from print and broadcast platforms, offering them the tools and knowledge needed to thrive in today’s fast-changing media environment. This initiative continues the […]
FG Begins Testing for National Single Window Ahead of 2026 Rollout
The Federal Government has officially kicked off User Acceptance Testing for the National Single Window (NSW), marking a major milestone in Nigeria’s journey toward a unified, technology-driven trade system set to go live by March 2026. The first cohort of stakeholders began hands-on testing as part of the government’s push to remove bottlenecks and modernize […]
Vertiv Acquires PurgeRite in $1 Billion Deal to Boost Data Centre Cooling and AI Infrastructure
Vertiv Holdings Co has announced a major $1 billion acquisition of PurgeRite, a Houston-based leader in mechanical flushing, purging, and filtration services for mission-critical data centres. The deal, which includes an additional $250 million tied to PurgeRite’s 2026 performance, is designed to bolster Vertiv’s position in high-growth thermal management services and next-generation liquid cooling systems […]
Peec AI Raises $21M to Help Brands Optimize for ChatGPT Searches
As consumers increasingly turn to ChatGPT instead of Google, the way people discover products is shifting — and Berlin-based startup Peec AI is poised to capitalize on this change. The company, which helps brands track and optimize their visibility in AI-powered searches, has raised $21 million in a Series A round led by European venture […]
Africa Lags in Global Clean Energy Boom as Renewable Investment Hits $2.4 Trillion
Global investment in renewable energy surged to a record $2.4 trillion in 2024, yet sub-Saharan Africa captured only 2.3% of the total, according to the International Renewable Energy Agency (IRENA). While advanced economies and China dominated the energy transition, Africa received a mere $18 billion—an improvement over previous years but still a fraction of global […]
Tamrose Repays $10M Loan, Highlights Success of Nigeria’s Local Content Initiative
Nigeria’s indigenous oil-service company, Tamrose Limited, has drawn widespread praise after fully repaying its $10 million loan from the Nigerian Content Intervention Fund (NCI Fund), underscoring the impact of targeted financing in growing local capacity. The Federal Government has pledged to expand support for homegrown firms in the oil and gas sector, citing Tamrose’s rapid […]
Naira Steadies as Nigeria’s Forex Reserves Hit $46.7 Billion Amid Strong FX Inflows
Nigeria’s naira held steady on Monday in the official foreign exchange (FX) market as the country’s external reserves surged to $46.7 billion, reaching a six-month high. The boost in reserves was largely driven by strong FX inflows and the federal government’s recent Eurobond issuance, signaling renewed confidence from international investors. Data from the Central Bank […]
Tinubu Highlights Youth-Focused Economic Reforms During Duke of Edinburgh Visit
President Bola Tinubu has welcomed the Duke of Edinburgh, Prince Edward, to the State House in Abuja, using the occasion to highlight Nigeria’s ongoing economic reforms aimed at empowering the nation’s youth. Tinubu emphasized that these initiatives are designed to strengthen institutions, create opportunities, and equip young Nigerians with skills to compete globally. The meeting […]
Elumelu and FirstBank Call for Stronger Support for Nigerian Entrepreneurs
Nigeria’s economic future lies in entrepreneurship, not government handouts or foreign aid, according to Tony Elumelu, Group Chairman of Heirs Holdings and the United Bank for Africa (UBA). Speaking at the Grow Nigeria Conference 2.0 organized by SMEDAN in Lagos, Elumelu stressed that sustainable growth comes from building strong institutions, clear governance, and businesses driven […]
Aradel Leads Nigerian Stock Market with N21.4 Billion Deals as Cement Selloff Pushes ASI Down 1.26%
The Nigerian stock market closed sharply lower on Monday, November 17, as the All-Share Index (ASI) slipped by 1,853.82 points to 145,159.77, marking a 1.26% decline from Friday’s close of 147,013.6. The drop was largely driven by a 10% tumble in Dangote Cement shares, which weighed heavily on the market. Trading activity also slowed significantly, […]
Dangote Refinery Slashes Petrol Prices, Says Marketers’ Reductions Followed Its Lead
Dangote Petroleum Refinery has clarified that its recent reduction in petrol gantry and coastal prices prompted the subsequent drop in pump prices by marketers, rejecting claims that the federal government’s suspension of a 15% import tariff was responsible. In a statement, the refinery emphasized that misleading publications attributing the price cut to government policy were […]
Lagos State’s N200bn Bond Oversubscribed by 55%, Signaling Strong Investor Confidence
Lagos State’s N200 billion bond has been oversubscribed by an impressive 55%, reflecting strong confidence from domestic investors. The record-breaking conventional bond, the largest ever issued by a non-corporate sub-national entity in Nigeria, attracted total commitments of N308 billion. In parallel, the state’s N14.8 billion Green Bond also drew significant interest, receiving N28.7 billion in […]
Tinubu Champions Faster Borders and Local-Currency Trade to Boost Africa’s Economy
President Bola Ahmed Tinubu has stressed that Africa’s economic success will be measured not by lofty declarations but by tangible outcomes such as faster border crossings, efficient port operations, and reliable local-currency settlements. Speaking at the opening of the Customs Pact – Partnership for African Cooperation in Trade, Tinubu said practical implementation must drive the […]