The Federal Government is targeting a 2.3 per cent contribution to Nigeria’s GDP and two million additional jobs from the creative sector by 2030, as part of efforts to diversify the economy. Hannatu Musa Musawa, Minister of Art, Culture, Tourism and Creative Economy, disclosed this when a delegation from the National Institute for Policy and Strategic Studies (NIPSS), led by its Director-General, Prof. Ayo Omotayo, visited her. The delegation also included Lai Mohammed, former Minister of Information and Culture. The visit focused on NIPSS’ plans to organise a National Summit and Exhibition on the Orange Economy and seek the ministry’s…
Author: Elvis Eromosele
The Federal Government has unveiled a new National Agricultural Mechanisation Policy and Investment Strategy aimed at modernising Nigeria’s agriculture, attracting private investment and boosting farm productivity. Minister of Agriculture and Food Security, Senator Abubakar Kyari, unveiled the two policy documents on Wednesday in Abuja at a High-Level National Policy Dialogue on Agricultural Mechanisation. The dialogue was themed, “Anchoring National Food Sovereignty through Sustainable Agricultural Mechanisation Policy, Innovation and Strategic Investment.” Kyari said the new framework would move agricultural mechanisation away from a government procurement model towards a sustainable, investment-driven system that can attract capital, technology and entrepreneurship. He said the…
MTN Nigeria generated a record ₦2.97 trillion in service revenue in the first half of 2026, but the huge figure tells only part of the story. Behind the revenue is the enormous cost of building and maintaining the infrastructure needed to keep millions of Nigerians connected. Speaking at MTN Nigeria’s H1 2026 mid-year results presentation, themed “Beyond the Numbers: What the Results Tell Us About Nigeria’s Digital Future,” Modupe Kadri, the company’s Chief Financial Officer, said the telecom business requires continuous investment. “The numbers, impressive as they are, only tell part of the story,” Kadri said, stressing that the company’s scale comes…
The Nigerian Communications Commission (NCC) has called on road construction companies, contractors, engineers and other stakeholders to strengthen coordination and adopt preventive measures to protect fibre-optic cables during road construction, rehabilitation and other civil works across the country. Dr. Aminu Maida, Executive Vice Chairman and Chief Executive Officer of the NCC, made the call today, August 11, 2026, at a stakeholders’ workshop on the protection of fibre-optic cables held at the National Counter- Terrorism Centre (NCTC), Office of the National Security Adviser in Abuja stressing that the nation’s drive to expand physical infrastructure must not undermine the digital infrastructure connecting…
SpaceX shares rose more than 6 per cent on Thursday after up to 911.5 million previously locked-up shares became eligible for trading, more than doubling the number of shares available to the public since the company’s June initial public offering. The share unlock came a day after SpaceX suffered its second-worst trading session, with the stock plunging nearly 14 per cent to close at $108.27, its lowest level since listing. The latest rebound suggests some investors may be using the sharp decline to buy the dip, even as the influx of newly tradable shares creates the potential for increased selling…
Scientists have mapped the narrow path of totality for the total solar eclipse set to sweep across parts of Greenland, Iceland, northern Spain and northeastern Portugal on Wednesday, August 12. The celestial event will occur when the Moon passes directly between the Sun and Earth, blocking the Sun’s light and casting its darkest shadow, known as the umbra, across parts of the planet. The path of totality will stretch about 5,157 miles (8,300 kilometres), beginning over the Arctic coastline at around 1 p.m. ET and ending near the Balearic Islands at about 2:30 p.m. ET. Observers within the path will…
A Chinese Long March 7A rocket carrying a communications satellite exploded just 85 seconds after liftoff on Monday, marking a rare failure for one of the country’s established satellite-launch vehicles. The rocket erupted into a massive fireball shortly after taking off from the Wenchang Space Launch Site on Hainan Island, according to video footage of the incident. China’s state news agency, Xinhua, confirmed the failure about three hours after the launch, saying the rocket “experienced an anomaly during flight.” It said the cause of the failure was under investigation. The incident occurred during the rocket’s planned 18th mission. The Long…
Nvidia has partnered with some of the world’s largest banks and investment firms to mobilise up to $500 billion in capital for artificial intelligence infrastructure, as demand for computing power continues to surge. The chipmaker said it had reached agreements with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR, with the investors treating AI hardware and infrastructure, commonly known as “compute”, — as a new investable asset class. Jensen Huang, Nvidia Chief Executive Officer, said the financing would help bring long-term institutional capital into the rapidly expanding AI infrastructure market. “In AI, compute is revenue,” Huang said. “We are bringing…
Nigeria and Ghana are among the West African countries where interest payments on external debt rival or exceed public health spending, highlighting the growing strain debt servicing is placing on government finances, according to the African Development Bank (AfDB). The AfDB disclosed this in its 2026 Regional Economic Outlook for West Africa, warning that rising debt-service costs are squeezing the fiscal space available for healthcare, infrastructure and other development priorities. According to the report, debt servicing is absorbing an increasing share of public resources as African governments contend with rising external debt obligations. “Debt service is absorbing a rising share…