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…
Author: Elvis Eromosele
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…
The Nigerian Railway Corporation has again temporarily suspended the Warri-Itakpe Train Service (WITS) following technical concerns and operational challenges flagged by its engineers. The announcement was made on Wednesday in a statement issued by Callistus Unyimadu, the corporation’s Chief Public Relations Officer, who said the suspension became necessary to allow for critical operational assessments aimed at improving safety, reliability, and service delivery along the corridor. According to the NRC, engineers advised that operations be halted temporarily to address technical issues affecting the route. “The Nigerian Railway Corporation (NRC) says it has temporarily suspended the Warri-Itakpe Train Service (WITS) due to…
Meta has begun rolling out new subscription plans for users of Facebook, Instagram, and WhatsApp as the tech giant pushes to expand revenue streams beyond digital advertising. The global rollout, announced on Wednesday, introduces new “Plus” subscription plans designed to offer users enhanced platform features, advanced customisation tools, and deeper engagement options. Under the new structure, users can subscribe to: Instagram Plus Facebook Plus WhatsApp Plus Monthly subscription fees range from $2.99 to $3.99 depending on the platform and package selected. According to Naomi Gleit, Meta’s Head of Product, the subscription plans are aimed at users seeking more functionality and…
The African Development Bank (AfDB) has appointed Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development, to spearhead its $7 billion Integrated Aviation Transformation Programme for Africa (IATP). The announcement was disclosed in a statement issued on Wednesday by Tunde Moshood, the minister’s Special Adviser on Media and Communications. The appointment forms part of the AfDB’s broader strategy to modernise Africa’s aviation industry, improve regional air connectivity, strengthen infrastructure, and attract large-scale private and institutional investments into the sector. The development also positions Nigeria at the forefront of ongoing continental aviation reforms aimed at boosting Africa’s competitiveness in global air…
The Federal Government recorded N11.89 trillion in fresh borrowings within the first nine months of 2025, while spending just N3.10 trillion on capital projects during the same period, according to the 2025 third-quarter Budget Implementation Report released by the Budget Office of the Federation. The report showed that the new borrowings comprised N7.08 trillion in domestic loans and N4.81 trillion in multilateral and bilateral project-tied loans. Despite a budget provision of N1.38 trillion for foreign borrowing during the period, no foreign loans were recorded. Data from the report showed that actual borrowing surpassed the three-quarter projection of N10.34 trillion by…