Google’s parent company, Alphabet, has reported its first negative free cash flow in at least a decade as soaring investments in artificial intelligence (AI) infrastructure continue to drive up costs, even as the tech giant posts robust revenue growth. Alphabet’s free cash flow, the cash left after funding operations and capital investments, fell to negative $5.9 billion, reflecting the enormous financial commitment required to expand its AI capabilities. The company has raised its projected AI-related capital expenditure for 2026 to between $195 billion and $205 billion, up from an earlier estimate of $190 billion, as competition intensifies among global technology firms…
Author: Elvis Eromosele
The cyberattack carried out by some of OpenAI’s most advanced artificial intelligence (AI) models has sent shockwaves through the technology industry, with experts warning that the incident marks the beginning of a new era of AI-driven cyber threats. Thomas Wolf, co-founder and chief science officer of AI platform Hugging Face, described the incident as “a wake-up call” for businesses worldwide, saying organisations must rethink their cybersecurity strategies as AI systems become increasingly autonomous. The warning follows OpenAI’s disclosure earlier this week that some of its AI models escaped a controlled testing environment during an experiment and launched what the company…
The Nigerian Communications Commission (NCC) has called for deeper collaboration among African Telecommunications and Communications Regulators to strengthen the use of data, evidence and market intelligence in driving more effective and responsive regulation across the continent. Speaking at the Heads of Regulators Roundtable during the African Telecommunications Union (ATU) Conference of Plenipotentiaries (CPL-26) in Abuja, Dr. Maida said communications regulation has become increasingly central to economic growth, digital transformation, and national development across Africa. He observed that although regulators operate within different market environments and legal frameworks, they face many common challenges, including infrastructure development, cybersecurity, affordability, satellite services, resilience…
30 million abandoned children. One workbench. A blueprint the world needs. On Wednesday, July 29, in Abuja, 21 children once written off as street beggars will assemble their own computers and drones, live, on camera, as the pioneer graduates of the Almajiri-to-Tech Initiative. Six months ago some couldn’t speak English. Today they repair phones, laptops, fans, power banks, microwaves, other electronics, build inverter batteries, and are walking away with tools to start their own businesses. The Almajiri to Tech Foundation in partnership with New Horizons Nigeria, the world’s largest ICT training institution decided to experiment with 21 out of school…
…How We Buried Our Drains, Burned Our Future and Are Now Blaming the Rain By Moses Braimah “In Nigeria, when rain falls for just three hours, WhatsApp becomes a rescue centre. Somebody is stranded. Somebody’s car is floating. Somebody is asking for a canoe in Lekki. Then someone will inevitably conclude: ‘This rain is from the village.’ Perhaps not. Perhaps this one came from our own hands.” Every rainy season in Nigeria follows a familiar script. The rain falls. The roads disappear. Cars become boats. Homes become swimming pools. Government officials promise action. Citizens blame government. Government blames citizens. Then…
The Lagos State Government has asked the State House of Assembly to approve the issuance of a N200 billion bond to fund critical infrastructure projects, including rail expansion, healthcare facilities and major road projects. The request was conveyed in two letters from Abayomi Oluyomi, the Commissioner for Finance, which were read during Tuesday’s plenary, according to the News Agency of Nigeria (NAN). The proposed bond forms part of the state’s N1 trillion Debt and Hybrid Instruments Issuance Programme, designed to finance strategic capital projects across Lagos. Oluyomi said proceeds from the proposed Series V N200 billion bond would be used…
The Nigeria Hydrological Services Agency (NIHSA) has issued a seven-day flood alert for 17 states, warning of a medium flood risk between July 21 and July 27 following rising water levels in major rivers across the country. The warning was contained in the agency’s National Flood Advisory (Alert No. NFA-2026-200) issued on Tuesday by NIHSA Director-General, Umar Mohammed, according to the News Agency of Nigeria (NAN). The agency said increasing water levels at key river monitoring stations have heightened the risk of localised flooding along river channels and floodplains, urging governments and residents in vulnerable communities to take precautionary measures.…
The National Pension Commission (PenCom) has announced plans to increase statutory pension contribution rates as part of a broader review of the Pension Reform Act (PRA) 2014, a move aimed at strengthening retirement security for Nigerian workers. Omolola Oloworaran, PenCom Director-General, disclosed this on Tuesday during the 2026 Pension Consultative Forum for States, the Federal Capital Territory (FCT), and Licensed Pension Fund Operators (LPFOs) in Lagos. Under the current pension framework, employers contribute a minimum of 10% of an employee’s monthly emoluments, while employees contribute 8%, bringing total mandatory contributions to 18%. PenCom now wants that rate increased. Oloworaran said…
The Lagos State Electricity Regulatory Commission (LASERC) has clarified that its proposed 12-month billing rule will not cancel existing electricity debts, dismissing reports suggesting consumers would no longer be required to pay bills older than one year. In a statement issued on Tuesday, the Commission explained that the proposed provision under its new Retail Electricity Supply Code is intended to ensure electricity suppliers issue bills within a reasonable period after electricity is consumed. It stressed that the rule will only take effect when the new Code becomes operational. LASERC said recent media reports had misinterpreted the proposed regulation, creating the…
France has become the first European country to approve a nationwide ban preventing children under the age of 15 from accessing social media, as lawmakers intensify efforts to protect young people from the platforms’ potential harm. The legislation, passed by both the French Senate and National Assembly on Tuesday, will take effect in two phases, culminating in January 2027 when every social media user in France will be required to verify their age before accessing platforms. President Emmanuel Macron, who had pledged to introduce the measure before the end of his presidency, welcomed the law as a major step toward…