Cursor, the AI coding startup often described as a “decacorn in the making,” is redefining what it means to build a generational tech company. Rather than simply developing a product, Cursor has created a blueprint for hyper-growth that blends cutting-edge AI innovation with a unique, high-agency company culture. In just a year, the startup has […]
Year: 2025
Exowatt’s “Rocks in a Box” Could Revolutionize AI Data Center Power
AI data centers consume massive amounts of electricity, driving startups like Exowatt to seek innovative solutions. Hannan Happi, co-founder and CEO, has one target in mind: delivering power for just one cent per kilowatt-hour. “We went through countless designs,” Happi told TechCrunch. “Our goal is to optimize for cost, efficiency, and scalability.” If successful, Exowatt’s […]
AI Bubble Concerns Grow as Tech CEOs Warn of ‘Vibe Revenue’ and Overheated Valuations
Top technology executives are sounding fresh alarms about AI bubble concerns, noting that valuations in the artificial intelligence sector are rising far faster than real revenue. Speaking at the Web Summit in Lisbon, CEOs from DeepL and Picsart told CNBC that investor enthusiasm may be outpacing the industry’s ability to deliver sustainable profit. Their comments […]
FG Suspends 15% Fuel Import Duty as Government Assures Nigerians of Nationwide Supply Stability
The Federal Government has suspended the proposed 15 percent ad-valorem import duty on petrol and diesel, a policy that had sparked concerns about potential price increases and supply pressures. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the development on Thursday, assuring citizens that fuel supply across the country remains stable as demand […]
Nigeria Doubles Crude Supply to Local Refineries, Hits 40,000bpd in 2025 — NMDPRA
Nigeria’s domestic refining capacity received a major boost in 2025, as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced that crude oil supply to local refineries has doubled within two years. The volume increased from 20,000 barrels per day in 2023 to 40,000 bpd in 2025—a milestone the agency says signals steady progress […]
Nigeria’s Private Sector Records 11-Month Expansion as PMI Rises to 55.4
Nigeria’s private sector continued its impressive run of growth in October, marking the 11th straight month of expansion as business activities strengthened across key industries. The latest Purchasing Managers’ Index (PMI) report showed a rise to 55.4 points, signalling improved operating conditions and renewed business confidence despite persistent economic pressures. According to the report, firms […]
Digital Lending Compliance Deadline Set for January 5, 2026 – FCCPC Cracks Down on Non-Compliant Lenders
The Federal Competition and Consumer Protection Commission (FCCPC) has announced January 5, 2026, as the official deadline for all digital lending operators in Nigeria to comply with the newly issued Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025. The move aims to enforce fairness, transparency, and accountability in Nigeria’s fast-growing digital lending sector. These […]
FG Cracks Down on Loan Defaulters as Tamrose Fully Repays $10M NCI Fund
Tamrose Limited, an indigenous Nigerian marine logistics and offshore support company, has successfully repaid its $10 million Nigerian Content Intervention (NCI) fund acquired in 2019, according to the Nigerian Content Development and Monitoring Board (NCDMB). The company completed the repayment without missing a single installment, joining 20 other firms that have met their obligations under […]
Tax Incentives to Boost Nigeria’s Manufacturing Growth to 3.1% in 2026 — MAN
Nigeria’s manufacturing sector is set to record a projected 3.1 per cent growth in 2026, up from the 1.6 per cent recorded in the second quarter of 2025, according to the Manufacturers Association of Nigeria (MAN). The anticipated growth is largely attributed to new tax incentives, harmonisation of levies under the upcoming tax regime, and […]
European Stocks Slide as AI Valuations and UK Tax Reversal Shake Markets
European stocks tumbled on Friday, rattled by concerns over inflated artificial intelligence (AI) valuations and broader global economic uncertainty. The pan-European Stoxx 600 fell 0.8% early in trading, with major indexes including the FTSE 100, DAX, and CAC 40 all closing lower, reflecting widespread investor caution. Market participants are wary that the AI sector, which […]
Nigerian Stock Market Rises 1.08% as Brewers and FUGAZ Stocks Lead Gains
The Nigerian stock market rebounded on Thursday, November 13, 2025, with the All-Share Index (ASI) posting a 1.08% gain. The benchmark closed at 146,981.2 points, adding 1,577 points from the previous session. The rally was largely driven by heavyweights International Breweries, Nigerian Breweries, and FUGAZ stocks, signaling renewed investor confidence following a sharp decline earlier […]
National Assembly to Discuss Capital Gains Tax Hike Amid N2 Trillion Market Loss
The National Assembly is set to engage the federal government over the controversial proposed increase in Capital Gains Tax (CGT) from 10% to 30% on share sales exceeding N150 million. Senate Committee on Capital Market and Institutions Chairman, Osita Izunaso, warned that the policy could trigger economic instability, citing a loss of about N2 trillion […]
Nigeria’s Economic Reforms Fuel IHS Towers’ Strong Q3 Performance, Lifting 2025 Outlook
IHS Towers, the largest independent operator of shared communications infrastructure in Africa, has delivered strong third-quarter results, largely fueled by Nigeria’s recent economic reforms and a strengthening naira. The New York Stock Exchange-listed company raised its full-year 2025 guidance following impressive performance metrics across its African operations. Chairman and CEO Sam Darwish praised the Nigerian […]
Naira Strengthens as Nigeria’s External Reserves Hit Six-Year High of $43.42 Billion
Nigeria’s naira gained modestly against the U.S. dollar in the official foreign exchange market on Thursday, buoyed by a surge in the country’s external reserves to a six-year high of $43.42 billion. The appreciation comes amid renewed investor confidence and improved foreign exchange inflows, signaling optimism for Nigeria’s economic stability. At the close of trading, […]
Nigeria’s Currency Reforms Drive Surge in Foreign Investment
Nigeria’s bold currency reforms are paying off, sparking renewed interest from foreign investors after years of economic uncertainty. The Central Bank of Nigeria (CBN) initiated a series of measures to stabilize the foreign exchange market, unify exchange rates, and clear the backlog of trapped foreign currency. While initially viewed as risky, these reforms have attracted […]
Insecurity and Power Supply Top Nigerian Business Challenges in October – CBN Survey
Insecurity and erratic power supply have emerged as the leading challenges for Nigerian businesses in October 2025, according to the latest Business Expectations Survey (BES) by the Central Bank of Nigeria (CBN). Firms across key sectors identified insecurity as the top obstacle at 71.8 points, followed closely by insufficient power supply at 70.9 points, highlighting […]
Nigeria Faces Looming Food Crisis in 2026 as Farmers Threaten to Quit Agriculture
Nigeria may be on the brink of a major food crisis in 2026, as farmers across the North-Central and North-West regions warn that rising production costs, insecurity, and post-harvest losses are making farming increasingly unprofitable. From Niger to Nasarawa, Kogi, and Kaduna states, small and medium-scale farmers report that despite government directives to lower food […]
PenCom targets 80m informal workers with micro-pension plan
The National Pension Commission (PenCom) is intensifying efforts to bring Nigeria’s massive informal workforce—estimated at 70 to 80 million people—into the country’s retirement savings net. Speaking at the Annual Conference of the Pension Correspondents Association of Nigeria, Director-General Omolola Oloworaran said the revamped micro-pension scheme, now rebranded as the Personal Pension Plan (PPP), is designed […]
Tinubu Postpones 15% Fuel Import Duty to 2026 After Stakeholder Pushback
President Bola Tinubu has approved a shift in the implementation of the proposed 15% fuel import duty on petrol and diesel to the first quarter of 2026, reversing earlier assumptions that the policy had been suspended indefinitely. The decision follows fresh consultations with major industry players, who warned that immediate enforcement could heighten fuel prices […]
Nigeria’s Private Sector Expands for 11th Month as PMI Hits 55.4 Points
Nigeria’s private sector sustained its growth streak for the 11th consecutive month in October, driven by gains across industry, services, and agriculture, according to the Central Bank of Nigeria (CBN). The country’s composite Purchasing Managers’ Index (PMI) rose to 55.4 points from 54.0 in September, marking the highest reading this year and signaling stronger business […]
MOFI Lists N1 Trillion MREIF on NGX to Boost Affordable Housing in Nigeria
Nigeria’s Ministry of Finance Incorporated (MOFI) has officially listed its N1 trillion Series 2 MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange Group (NGX), in a high-profile ceremony in Lagos. The event attracted top government officials, capital market leaders, and private sector stakeholders, highlighting the significance of the listing for both financial markets […]
Bank of Ghana Launches Transparent FX Operations Framework to Boost Market Confidence
The Bank of Ghana (BoG) has introduced a new Foreign Exchange (FX) Operations Framework aimed at boosting transparency, reinforcing market confidence, and ensuring stability in the country’s FX market. Approved by the BoG Board, the framework represents a significant policy shift, clarifying the objectives, principles, and processes guiding the central bank’s interventions in the foreign […]
Ghana’s Bond Market Set to Drive Africa’s Capital Market Integration – BoG Governor
Ghana’s fixed-income market is emerging as one of Africa’s most credible and resilient bond platforms, with trading volumes reaching GHS214 billion in 2025. Speaking at the 10th Anniversary of the Ghana Fixed Income Market (GFIM) in Accra, Bank of Ghana Governor Dr. Johnson Pandit Asiama described the milestone as a sign of both recovery from […]
Deepwatch Layoffs Hit Dozens as Company Shifts Focus to AI Investments
Deepwatch, a U.S.-based cybersecurity company known for its AI-powered detection and response platform, has laid off dozens of employees as it pivots toward artificial intelligence and automation. CEO John DiLullo confirmed that the organizational changes are intended to “accelerate our significant investments in AI and automation,” signaling a strategic shift in the company’s priorities. Sources […]
Dow Hits Record 48,000 Amid AI Market Surge and Government Reopening
The Dow Jones Industrial Average surged to a historic milestone on Wednesday, closing above 48,000 for the first time. This marked the second consecutive record high for the 30-stock index, signaling renewed investor confidence in established “old economy” giants like Goldman Sachs, Eli Lilly, and Caterpillar. Meanwhile, the tech-heavy Nasdaq showed a contrasting trend, dipping […]
Nigeria Records 566,300 Data Breaches in 2025 Amid Rising Global Cyber Threats
Nigeria has emerged as one of the most affected countries in global cybersecurity incidents this year, with 566,300 accounts leaked in 2025. According to cybersecurity firm Surfshark, the country ranked 16th globally in Q3 2025, recording 408,900 leaked accounts in that period alone. Analysts warn that the rising use of AI tools is enabling even […]
Seplat Energy Boosts Crude Output by 33,000 BPD After Successful Oil Well Rehabilitation
Seplat Energy Plc has successfully boosted its crude oil production by 33,000 barrels per day (BPD) following the rehabilitation of 33 oil wells, 26 of which are now fully operational. The development marks a significant step for Nigeria’s energy sector as local operators play a more prominent role in managing the country’s oil resources. The […]
TotalEnergies Pushes to Maximise Oil Production in Nigeria’s Deepwater Fields
TotalEnergies EP Nigeria is intensifying efforts to unlock the full potential of its oil assets in the country, driven by a strong push to optimise existing fields and fast-track deepwater projects. Victor Bandele, Deputy Managing Director for Deepwater Assets, described the move as a “desperation” to make the most of the company’s resources during a […]
NDIC Advises Nigerians to Maintain Alternate Bank Accounts for Faster Refunds
The Nigeria Deposit Insurance Corporation (NDIC) has urged bank customers to maintain alternate accounts in different financial institutions to ensure quick access to their funds if a bank faces distress. The advice was shared during the NDIC’s Special Day at the 2025 Lagos International Trade Fair, themed “Connecting Business, Creating Value.” Speaking on behalf of […]
Nigeria Targets $20 Billion Investment from 70 Priority Gas Projects to Boost Industrial Growth
Nigeria is positioning itself to unlock up to $20 billion in new investments through 70 priority gas projects, as the nation moves to transform its vast natural gas reserves into a driver for industrial growth, job creation, and energy security. The projects, selected from over 200 initiatives reviewed by the Decade of Gas Secretariat, are […]