President Bola Tinubu has approved a new salary structure for members of the Nigerian Armed Forces, with pay increases ranging from 30 per cent to 80 per cent, in a move aimed at improving troop welfare and strengthening national security. The revised salary package, which takes effect from September 1, 2026, will benefit about 250,000 military personnel, with junior ranks receiving the largest increases. The approval was announced in a statement issued on Tuesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga. Under the new pay structure, soldiers from the rank of Private to Staff Sergeant will…
Author: Elvis Eromosele
The World Bank has advised developing countries to stop trying to compete with advanced economies in building massive artificial intelligence (AI) models and expensive data centres, urging them instead to focus on adopting affordable AI solutions tailored to local needs. The recommendation is contained in the World Development Report 2026: The Promise of Artificial Intelligence, released on Tuesday. According to the report, although developing economies are experiencing their weakest average growth in three decades, AI presents a significant opportunity to accelerate economic growth before the end of the decade. Indermit Gill, World Bank’s Senior Vice President and Chief Economist,said developing…
By Babafemi Ojudu I listened to St Janet just as I listened to Fela’s Na Poi. I have always loved creativity in all its forms, just as I cherish freedom. My instinct is to let people create, speak, sing and imagine as they wish, provided they do no harm to others. I have always been an admirer of the free spirit. Civilisation advances not merely through conformity but through those willing to push boundaries. St Janet’s passing has provoked intense debate. The moralists never accepted her. Many religious people could not stand her. Yet she commanded an enormous following among…
The Federal Government has approved the establishment of 33 new universities across the country, raising the total number of licensed universities in Nigeria to 309. The newly approved institutions comprise seven federal universities, six state-owned universities and 20 private universities, in what marks one of the largest single expansions of Nigeria’s higher education system in recent years. The seven new federal universities are the Federal University of Environment and Technology, Tai, Rivers State; Federal University of Applied Sciences, Kachia, Kaduna State; Tai Solarin Federal University of Education, Ijagun, Ogun State; Federal University of Agriculture and Developmental Studies, Iragbiji, Osun State;…
…Appoints additional Director The Board of Cadbury Nigeria Plc today announced the resignation of Mr. Adedotun Sulaiman as the Company’s Chairman, and the appointment of Dr. Rasaq Adedoyin Salami as his successor. The Board also announced the appointment of Mrs. Uwa Osa-Oboh as an Independent Non-Executive Director. Both appointments took effect from 3rd August 2026. The announcement was contained in a notification issued by Afolasade Olowe, the Company Secretary, to the Nigerian Exchange Ltd (NGX) and the investing public. The statement said the Board thanked Mr. Sulaiman for his immense contributions to the Company since his appointment as a Non-Executive…
The Society of Petroleum Engineers (SPE) Nigeria Council has called for greater technical knowledge among journalists covering the energy sector, warning that inaccurate or superficial reporting could undermine investor confidence, distort public understanding and weaken policy discussions. The council also urged stronger collaboration between engineers and the media to improve the quality, accuracy and credibility of energy reporting in Nigeria. The call was made during the Executive Masterclass on Energy Journalism held in Lagos. The programme, organised by the SPE Nigeria Council in partnership with Sequest Upstream Company Limited, was themed “Engineering the Narrative: Why Technical Knowledge Matters in Energy…
FirstHoldCo Plc has made history by becoming the first Nigerian banking group to achieve a market capitalisation of more than N6 trillion, underscoring a remarkable rally in its share price this year. The milestone was reached during trading on Monday, August 3, 2026, when the company’s shares climbed to N136.50, pushing its market value to approximately N6.21 trillion based on its 45.48 billion outstanding shares. The achievement further cements FirstHoldCo’s position as Nigeria’s most valuable listed banking group. The N6 trillion valuation comes less than two weeks after FirstHoldCo crossed the N5 trillion market capitalisation mark for the first time…
Amazon has crossed the $3 trillion market valuation mark for the first time, joining an elite group of technology companies as investors bet that its aggressive investments in artificial intelligence are driving stronger growth and profitability. The milestone follows Amazon’s strongest cloud computing growth in more than four years and an increase in its annual capital expenditure forecast, reinforcing confidence that its AI strategy is delivering tangible financial returns. Amazon now joins Apple, Microsoft, Alphabet and Nvidia in the exclusive club of companies valued at more than $3 trillion, while Nvidia remains the world’s most valuable company with a market…
Delta State Governor Sheriff Oborevwori has launched a $100 million (about ₦133 billion) Viability Gap Fund to attract private sector investment and accelerate infrastructure and economic development across the state. The governor announced the initiative at the Delta State Economic and Investment Summit 2026 in Asaba, which brought together government officials, business leaders and development partners to explore investment opportunities in the state. Oborevwori said the summit was designed to connect investors with viable opportunities while showcasing Delta State’s economic potential. According to him, the Viability Gap Fund will help de-risk strategic projects, making them more attractive to private investors…
A little-known iPhone feature designed to ease motion sickness is winning over users, with many describing it as a game-changer for reading or browsing while travelling. Called Vehicle Motion Cues, the accessibility feature displays animated dots along the edges of the screen that move in sync with the motion of a vehicle. Using the iPhone’s built-in accelerometer, the dots provide visual cues that help the brain better process movement, potentially reducing nausea. The feature has become increasingly noticeable on public transport, where commuters can often be seen using phones with the distinctive moving dots. Experts say the technology is based on…