Distinguished leaders from business, governance, media, education, faith-based institutions, and civil society have called for a deliberate national commitment to mentorship, leadership development, and intergenerational knowledge transfer as critical pillars for Nigeria’s future. The call was made at the Passing the Torch Initiative, organised in celebration of the 60th birthday of renowned leadership mentor and corporate executive, Idy Enang, whose life and work have been dedicated to developing people, building leaders, and creating opportunities for the next generation. The event, themed “Mentorship as a Catalyst for Nation Building,” featured a keynote address by Pastor Tunde Bakare, remarks by Dr. Vitus…
Author: Elvis Eromosele
Nigeria’s petrol prices surged sharply in April 2026, with the average retail price of Premium Motor Spirit (PMS) climbing to N1,532.93 per litre, underscoring the continued impact of deregulation, foreign exchange pressures, and rising distribution costs on consumers and businesses. The latest Petrol Price Watch report released by the National Bureau of Statistics shows that fuel costs recorded significant increases on both a monthly and annual basis, further intensifying inflationary pressures across the economy. According to the report, the average retail price of petrol rose by 18.97 per cent month-on-month, increasing from N1,288.54 per litre in March 2026 to N1,532.93…
The Central Bank of Nigeria (CBN) has extended the enforcement deadline for its mandatory Point of Sale (PoS) terminal geo-fencing framework to August 1, 2026, while significantly increasing the permitted operating radius for terminals from 10 metres to 70 metres. The directive was contained in a circular dated May 29, 2026, and signed by Dr. Rakiya O. Yusuf, Director of the Payments System Supervision Department. The extension provides banks, mobile money operators, payment service providers, switching companies, and other licensed operators additional time to meet compliance requirements and address outstanding technical issues. Under the revised framework, the approved geo-fence radius…
Idorenyen (Idy) Enang, respected business leader, executive coach and mentor, is spearheading the Passing the Torch (PTT) initiative, a powerful platform for mentorship, leadership continuity, and nation building. Developed by Corporate Shepherds Limited, the initiative will take centre stage as Mr Enang commemorates his 60th birthday in a landmark gathering in Lagos, bringing together seasoned executives, emerging professionals, mentees, protégés, thought leaders, family, and friends. At the heart of the PTT initiative is a deliberate commitment to bridging generational gaps by connecting experienced leaders with the next generation of professionals and change-makers. The platform is designed to strengthen mentorship culture, transfer institutional…
Elon Musk has clarified that SpaceX’s high-profile compute agreement with Anthropic is structured as a short-term lease rather than the multi-year commitment widely reported earlier. In a series of posts on X, Musk said the agreement for the use of SpaceX’s Colossus AI infrastructure involves an initial 180-day term, followed by a mutual 90-day cancellation option. “SpaceX has not committed to leasing Colossus for years, although it’s possible that may be what happens,” Musk stated. Earlier reports had suggested the arrangement could run through 2029, with Anthropic reportedly paying about $1.25 billion monthly for access to the massive AI computing…
Microsoft is preparing to launch a new in-house artificial intelligence coding model next week at its annual Build developer conference in San Francisco, according to a report by The Information. The new model is expected to strengthen the capabilities of GitHub Copilot, Microsoft’s AI-powered coding assistant, as competition intensifies in the rapidly evolving AI software development market. The report said Microsoft is also developing additional AI models focused on transcription, reasoning, speech, and image generation as the tech giant accelerates efforts to reduce dependence on long-time partner OpenAI. Reuters reported that Microsoft declined to comment on the development. The move…
Arsenal F.C. has recorded a 23 per cent increase in valuation to €4.9 billion, approximately N7.84 trillion, ahead of the club’s historic Premier League title victory. According to Football Benchmark’s latest ranking of European football club valuations, Arsenal climbed two places to fifth among Europe’s most valuable football clubs. The valuation was based on financial performance from the 2024/2025 season and does not yet reflect the additional commercial and revenue gains expected from the club’s 2025/2026 Premier League triumph. The North London club is also preparing to face Paris Saint-Germain F.C. in the UEFA Champions League final scheduled for Saturday,…
By Camille Petersen In an era defined by AI-driven job replacements, shifting market dynamics, and evolving employee expectations, organizations face a critical mandate: to continuously build and adapt their capabilities. The pace of change necessitates a proactive approach to talent development as a strategic imperative for future-proofing the workforce and driving ambitious business growth. This goes beyond traditional training programs; it demands an integrated employee-centric approach where learning is embedded in the very fabric of work. When managers and employees actively co-own and take responsibility for their growth, talent development transforms into a continuous, relevant, and impactful process, delivering superior…
The Dangote Petroleum Refinery could save Nigeria more than N15 trillion annually in fuel import costs and generate about $11 billion in foreign exchange inflows, according to Dele Oye, Chairman of the Alliance for Economic Research and Ethics LTD/GTE and former President of NACCIMA. Oye also criticised the stance of the Nigerian National Petroleum Company Limited on fuel import licences, arguing that continued reliance on imports undermines Nigeria’s push for energy self-sufficiency despite the existence of large domestic refining capacity. He said Nigeria spent about N15.42 trillion on petrol imports in 2024, describing it as a major drain on foreign…
United Bank for Africa has reinforced its commitment to innovation, youth empowerment, and education with the commissioning of the UBA Innovation Hub and Business Office at University of Lagos. The facility was commissioned by Tony Elumelu, Group Chairman of UBA, represented by Oliver Alawuba, Group Managing Director/Chief Executive Officer of the bank, alongside members of the university’s leadership led by Vice Chancellor, Professor Folasade Tolulope Ogunsola. The project highlights UBA’s long-standing relationship with UNILAG and Nigeria’s education sector. Tony Elumelu, an alumnus of the university, described the development as both symbolic and strategic. “Returning to my alma mater for this…