Sam Altman, CEO, OpenAI, is in Nigeria to interact with select members of the tech community in an apparent move to broaden interests in burgeoning artificial intelligence. On Friday, Mr Altman was seen in pictures making the rounds on social media speaking with different stakeholders of the Lagos tech communities. Mr Altman also spoke to students at the MUSON centre about the future powered by artificial intelligence (AI). Between May and June, Mr Altman is scheduled to go to 17 locations around the world, including Toronto, New Delhi, Tel Aviv, Madrid, Brussels, and Singapore, with Lagos being the only African…
Author: Elvis Eromosele
The total number of mobile subscriptions in Nigeria dropped by 1.01 million to 225.82 million in March 2023, indicating a 0.45 per cent decrease, according to the latest industry statistics released by the industry regulator, the Nigerian Communications Commission (NCC). This shows a decline in growth in the telecommunications sector for the first time in almost two years as mobile subscriptions have recorded a steady growth since June 2021. Mobile subscriptions fell from 226.84 million in February 2023 to 225.82 million in March 2023. However, the data from NCC indicated a 3.59 million increase from the 222.23 million mobile subscriptions…
Why do the most basic to protect the most precious? It’s a question you can ask the average person and not get the right answers, with the number of injuries, fires and deaths that go on around people, it’s still not enough to bring about a change in behaviour towards equipping the home and office with basic HSE equipment, the same way they would the latest entertainment gadget. You have to ask how many more markets need to burn down before it’s just basic for every one of them to be equipped with a basic fire station and safety drills.…
By Elvis Eromosele The manufacturing industry is crucial to a nation’s economy. It plays a significant role in generating employment, increasing productivity, and driving economic growth. In Nigeria, the manufacturing industry is a critical sector that contributes significantly to the country’s gross domestic product (GDP) through job creation, wealth creation, and increased tax revenue for the government. It has equally been identified as a key sector in the nation’s quest for diversification away from oil dependency. It can enable a country to reduce its reliance on imports, improve its trade balance, and increase its overall competitiveness. Manufacturing is almost all…
Lagos State has opened bids for the issuance of N100 billion in bonds under its hybrid instrument program of N1 trillion in debt to support the provision of infrastructure in the state. According to financial advisors to the government, the debt issuance is scheduled to close on Friday, May 12, 2023. The bond is a fixed-rate senior unsecured bond with a tenor of 10 years and a pricing range of 14.875 per cent to 15.250 per cent. The issuance proceeds are expected to finance priority projects aimed at improving the state’s infrastructure and fostering economic growth, in line with the…
Some of the inevitabilities of life are death, taxes, and rush-hour traffic, the last two come with their own form of pressure on our health and might lead to the first one. I grew up with a strong allergic reaction to traffic pull-ups, whenever I’m in one, my temperature goes up, I have been lucky to some extent that my school or workplaces haven’t been far from where I live; that might have helped in my not having a strong immunity to it. Unless you are lucky to live not far from your work or school, you might end up spending a…
The Unstructured Supplementary Service Data (USSD) platform debt profile has hit N120 billion in the midst of the protracted crisis affecting the service. Dialogue is however ongoing between the telecommunications operators and the banks at the regulatory level to find an amicable solution. As of the first quarter of 2023, the debts were put at N100 billion. But the Association of Licensed Telecoms Operators of Nigeria (ALTON) said the banks continue to hold back remittance even as the outstanding has increased by N20 billion. ALTON Chairman, Gbenga Adebayo revealed that the debt figure has climbed up to N120 billion. Adebayo,…
Barring any unforeseen, President Muhammadu Buhari will commission the multi-billion naira Dangote Refinery in Lagos on May 22, 2023. This exactly a week to his handover date. The Special Assistant on Digital Communications to the President, Bashir Ahmad, confirmed the development in a statement on Sunday. He said: “Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery is set for inauguration on May 22nd,…
The Nigerian Communications Commission (NCC) generated N117.36 billion from Airtel Nigeria and MTN Nigeria after both firms renewed their 3G spectrum. Airtel Nigeria paid N58.70 billion to have its 2100 MHz spectrum licence renewed for the 3G network in Nigeria, while MTN Nigeria was charged N58.66 billion. According to separate statements released by the two companies, Airtel and MTN renewed their spectrum for 15 years. Both companies’ previous licenses for the 3G spectrum expired at the end of April 2022. But the renewal has extended the validity till April 2037. In its statement informing shareholders of its licence renewal, Airtel…
Mr. Mayowa Adeduro, Managing Director/CEO, Tangerine General Insurance Limited, says that over 133 million Nigerians are at risk of dying of poverty due to a lack of access to financial inclusion. Adeduro, who spoke at the SUPERNEWS Nigeria Fintech23 Conference in Lagos added that there is a nexus among poverty, education and financial inclusion, noting that this is why the Federal Government needs the contribution and action plan of many stakeholders to achieve the goal. “The banking sector just has 50 per cent of the adults in the banking circle. It is even worse in the insurance sector, which has…