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…
Author: Elvis Eromosele
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…
By Michael Owhoko, Ph.D For how long shall the rest of the country look on while Fulani ethnic militia trouble the peace of Nigeria? Why are Fulani terror groups spreading fear, causing pains and inflicting psychological trauma on Nigerians through deliberate, calculated and organised acts of kidnapping, torture, rape and killings? What exactly do they want, and for how long will Nigeria endure this malevolence? Nigeria’s current despicable image as fifth-most-violent country in the world, is largely due to this jihadist voyage. Of over 250 ethnic groups in Nigeria, why is the Fulani the only tribe that has chosen this…
Lagos State Governor, Babajide Sanwo-Olu, has confirmed that vandals excavated and stole fittings used to secure a bridge pole along the Lagos-Badagry Expressway. Sanwo-Olu made the disclosure after inspecting the vandalised bridge pole at Vin-Niger, near the Alakija axis of the expressway in Amuwo-Odofin Local Government Area. The governor, however, assured residents that the vandalism had not compromised the structural integrity of the bridge and that the structure remained safe. He warned that the state government would pursue those responsible, including individuals involved in the purchase and sale of stolen public infrastructure materials. According to a statement issued by the…
The Nigeria Immigration Service (NIS) is deploying a dedicated Passport Intervention Team to the United Kingdom from August 10, 2026, to clear pending passport applications and process new and renewal applications for Nigerians in the country. The NIS announced the intervention on Sunday, saying the exercise was directed by the Minister of Interior, Dr Olubunmi Tunji-Ojo. Under the directive, Kemi Nandap, Comptroller-General of Immigration, has been instructed to deploy the team from the NIS headquarters to work with the Nigerian High Commission in London. The intervention will cover Nigerians with pending passport applications, first-time applicants and those seeking to renew…
There was a time when shopping in Nigeria meant visiting a market, supermarket, boutique or electronics store, bargaining over prices and carrying purchases home. Today, millions of Nigerians can complete much of the same process with a smartphone: search, compare, pay and wait for delivery. It is as easy as 1234! From electronics and fashion to groceries, beauty products, books and locally made goods, online shopping is becoming a bigger part of everyday commerce. Platforms such as Jumia and Konga have helped establish e-commerce, while Instagram, TikTok and WhatsApp have enabled thousands of small businesses to operate digital storefronts. Here…
Sunbeth Energies Limited has unveiled what it describes as Nigeria’s first self-service fuel station at its Ogba outlet in Lagos, introducing a digital fueling system that allows motorists to initiate, monitor and complete fuel purchases independently. The company said the innovation is designed to improve transparency, convenience and accountability in fuel retailing by giving customers direct visibility over the dispensing process. Under the new system, customers can initiate a transaction, monitor the volume of fuel dispensed in real time and confirm payment through an interactive digital interface. The development marks a shift from Nigeria’s traditional attendant-operated fueling model, where customers…
The Association of Advertising Agencies of Nigeria (AAAN) has unveiled a new management board for the Lagos Advertising and Ideas Festival (LAIF) as preparations begin for the 21st edition of the annual creativity festival. The announcement was made by the re-elected AAAN President, Lanre Adisa, at a press conference in Lagos, where he also unveiled the theme for this year’s festival: “From Glitch to Great.” The new LAIF Management Board is led by Funke Adekola as President and Jumoke Akinyele as Vice President. Other members are Victor Oyaroro, Tobi Williams, Rotimi Ade-Onajobi, Toheeb Balogun, Anne Obaseki, Dr Meksley Nwagboh, Segun…
The Federal Mortgage Bank of Nigeria (FMBN) has launched a dedicated mortgage product for Nigerians living abroad, offering eligible applicants access to up to N100 million in housing finance at an interest rate of 9 per cent per annum. The National Housing Fund (NHF) Diaspora Mortgage Loan allows eligible Nigerians abroad to register under the NHF Scheme, complete Know Your Customer (KYC) requirements digitally, make contributions remotely and apply for mortgage financing without travelling to Nigeria. The product was unveiled in London on Friday, August 7, 2026, at an event attended by government officials, housing and mortgage finance stakeholders, and…