The Federal Government has approved a framework to institutionalise carbon market operations in Nigeria and is now working to establish clear criteria for approving carbon market projects. Prof. Simon Uchenna Ortuanya, Vice-Chancellor of the University of Nigeria, Nsukka (UNN), disclosed this at the National Stakeholders Review and Validation Workshop on the draft Host Country Approval Criteria for Nigeria’s Carbon Market Operations in Abuja. Ortuanya, who was represented by Prof. Nnaemeka Chukwuone, said the approval marked an important step towards creating a structured and transparent carbon market in Nigeria. He said global carbon markets could help countries mobilise climate finance for…
Author: Elvis Eromosele
The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a 33 percent increase in profit after tax (PAT) to N7.2 trillion in 2025, up from N5.4 trillion recorded in 2024. The company also reported revenue of N34.5 trillion and earnings per share of N35.9, while taxes, royalties and other remittances to the Federal Government rose by 39 per cent to N22.3 trillion. Bayo Ojulari, NNPC Ltd. Group Chief Executive Officer, disclosed the figures during the company’s 2025 Audited Financial Statements Media Parley in Abuja. According to Ojulari, the increase in profit came despite a decline in revenue, which he attributed…
The Federal Government is planning to establish dedicated Energy Zones in some of Nigeria’s highest electricity-demand areas as part of efforts to improve supply reliability and move towards 24-hour power availability for homes, businesses and industries. Joseph Tegbe, Minister of Power, disclosed the plan during a strategic meeting with the leadership of selected electricity distribution companies (DisCos), where discussions focused on strengthening the distribution segment of the electricity value chain. The proposed Energy Zones will initially cover the Lagos axis, the Abuja-Kaduna-Kano corridor and the Enugu-Port Harcourt corridor. According to the government, the initiative is designed to tackle distribution constraints,…
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said there is no fixed date yet for its proposed Initial Public Offering (IPO), stressing that the final decision to list the company will be taken by its shareholders. Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd., disclosed this on Tuesday in Abuja at a press conference on the company’s 2025 Audited Financial Statements, held after its Annual General Meeting. Ojulari said NNPC management was focused on ensuring the company is fully prepared for a potential IPO, while consultants and other relevant parties assess its readiness. According to Ojulari, management…
The Nigerian Communications Commission (NCC) has called for increased public and private sector investment in telecommunications infrastructure to accelerate broadband expansion, improve service quality, and support Nigeria’s growing digital economy. Dr. Aminu Maida, Executive Vice Chairman and Chief Executive Officer of the NCC, made the call at the opening of the maiden Nigeria Digital Connectivity Investment Forum organised by the Commission in collaboration with Swedfund and Ookla in Abuja. Speaking during the opening ceremony, the NCC Chief Executive said the forum was designed to provide a strategic platform for fostering dialogue between regulators, investors, infrastructure providers, and development partners to…
Verve, Africa’s leading domestic payment cards and tokens brand, has launched its tokenization solution in partnership with Wema Bank, with the pilot deployment enabling eligible Wema Bank customers with Verve cards to make contactless payments using their mobile devices. The launch marks an important step in Verve’s efforts to expand secure and convenient digital payment experiences, while opening its tokenization capabilities to other financial institutions across Nigeria. Through the solution, eligible Wema Bank customers with Verve cards can tokenize their cards within the Wema Bank mobile banking application and enable them for Mobile Tap-to-Pay at supported contactless terminals. Once activated,…
Apple has been ordered to pay $5.7 billion in damages after a US jury found that the technology giant infringed patents covering vibration technology used in devices such as the iPhone and Apple Watch. The verdict follows a patent lawsuit filed in 2021 by Taction Technology, an audio technology company that accused Apple of using its patented haptic technology without authorisation. Haptics allow electronic devices to simulate the sense of touch through vibrations. The technology is widely used in smartphones, smartwatches, gaming controllers and other consumer electronics to provide physical feedback when users press buttons, receive notifications or perform other…
Nvidia has launched a new software platform designed to help companies monitor and control artificial intelligence agents as concerns grow over AI systems acting beyond human instructions. The chipmaker announced on Monday that it had introduced the NVIDIA Open Agent Safety Platform, developed with more than 100 industry partners. Jensen Huang, Nvidia CEO, said the platform is aimed at addressing growing concerns around AI safety as businesses increasingly deploy autonomous AI agents capable of taking actions on their own. “AI’s extraordinary potential for society will only be realized if we solve AI safety,” Huang said in a statement. “As we…
SpaceX’s Starship has reached orbit for the first time and successfully deployed 26 Starlink V3 satellites, marking a major milestone for the company’s most ambitious rocket programme. The Starship spacecraft lifted off from SpaceX’s Starbase facility in Texas on Monday during its 14th test flight. The vehicle later completed a controlled re-entry and splashdown in the Pacific Ocean after about three hours in space. The flight was not without setbacks. The Super Heavy booster failed to relight all its engines as planned, although SpaceX said its practice landing over the Gulf ended in a relatively soft splashdown. The upper-stage Starship…
The Nigerian Association of Resident Doctors (NARD) has given the Federal Government a two-week ultimatum to resolve outstanding welfare and professional issues or face the possibility of another nationwide strike. The ultimatum was contained in resolutions adopted at the association’s 46th Annual General Meeting (AGM) held in Calabar, Cross River State, on Sunday. NARD said several agreements reached with the Federal Government remained unresolved despite repeated meetings and assurances, leaving issues around remuneration, career progression, professional allowances, manpower shortages and working conditions unresolved. The association urged the government to use the two-week window to address the outstanding demands and prevent…