Nigeria Launches AI Fund to Boost Startup Innovation
The Federal Government, in partnership with Google, has announced the launch of the AI Fund, a N100 million initiative aimed at supporting Nigerian startups leveraging artificial intelligence (AI) to develop innovative solutions. The AI Fund is part of the Ministry of Communications, Innovation & Digital Economy's strategic programs to harness the potential of AI to drive development, innovation, and well-being...
Huawei Unveils World’s First Trifold Phone
Chinese tech giant Huawei has unveiled its latest smartphone, the Mate XT, which is billed as the world's first trifold phone. The launch comes just hours after US competitor Apple introduced its new iPhone, designed for artificial intelligence. The Mate XT, showcased in a sleek red and gold design, is expected to go on sale on September 20. Priced at...
WTO Emphasizes Need for Beyond Open Trade to Reduce Inequalities
The World Trade Organization (WTO) has underscored that open trade alone is insufficient to bridge the gap between wealthy and developing nations. The organization's 2024 report on global trade highlights the need for additional measures to assist poorer countries in achieving greater economic equality. In the foreword to the report, WTO Director-General Ngozi Okonjo-Iweala emphasized the transformative role of trade...
Netzence Reinforces Commitment to Nigeria’s Climate Goals
Netzence Sustainability Limited (Netzence) has reiterated its commitment to supporting Nigeria's efforts to achieve its Nationally Determined Contributions (NDCs) under the Paris Agreement. The company's innovative platform, CloseCarbon, is designed to monitor and quantify Nigeria's carbon emissions, providing valuable insights for policymakers and businesses. CloseCarbon leverages advanced data analytics and seamless integration with various data sources to track carbon emissions...
Financial Institutions to Discuss Recapitalization Impact at FICAN Conference
Key financial institutions in Nigeria, including the Nigeria Deposit Insurance Corporation (NDIC), the Central Bank of Nigeria (CBN), the Bank of Industry (BoI), the United Bank for Africa (UBA), Access Holdings Plc, and others, will gather at the 2024 Finance Correspondents Association of Nigeria (FICAN) conference to discuss the implications of the ongoing bank recapitalization on the real sector. The...
Telecom Services in Nigeria Face Disruption Amidst Ongoing Strike
A nationwide strike by workers in the telecom sector has threatened to disrupt services across Nigeria. The Private Telecommunications and Communications Senior Staff Association (PTECSSAN) has embarked on the strike to demand better working conditions, union recognition, and the reinstatement of sacked members. The union's members, who are primarily contract staff working for infrastructure companies like IHS, Huawei, and others,...
Nigeria’s Oil Production Gets a Boost: NNPC, Chevron Convert Assets
A significant step towards increasing Nigeria's oil production has been taken, as the Nigerian National Petroleum Company Limited (NNPC) and Chevron Nigeria Ltd have successfully converted five joint venture assets to the terms of the Petroleum Industry Act (PIA) of 2021. According to a statement released by NNPC's Chief Corporate Communications Officer, Olufemi Soneye, the conversion process involved transforming five...
Elumelu Foundation Empowers Over 8,000 Women Entrepreneurs Across Africa
The Tony Elumelu Foundation has empowered over 8,000 women entrepreneurs in 54 African countries in just 10 years, representing 46% of the total number of entrepreneurs supported by the foundation. Dr. Awele Elumelu, co-founder of the foundation, highlighted this achievement during her keynote address at the 2024 Women Directors Conference of the Chartered Institute of Directors of Nigeria. The foundation's...
Experts Criticize New Fintech Levy: Could Stifle Innovation and Harm Economy
The Federal Government's recent decision to impose a N50 electronic money transfer levy (EMTL) on transactions above N10,000 has faced significant criticism from economists. They warn that this move could discourage digital transactions, harm the economy, and stifle innovation in the fintech sector. Former Chief Economist at Zenith Bank, Marcel Okeke, argued that the levy is ill-timed and could have...
Harnessing the Power of AI: Google Tools for Effective Marketing
In the competitive landscape of digital marketing, capturing attention is paramount for businesses to thrive. Traditional advertising methods are no longer sufficient to stand out and drive results. The advent of Artificial Intelligence (AI) has revolutionized the industry, offering businesses powerful tools to enhance their marketing strategies. Google Ads has been at the forefront of this technological advancement, introducing a...
