African airlines recorded a significant 12.4% year-on-year increase in international passenger demand for November 2024, marking a strong recovery in the continent’s air travel industry. This surge in demand is a clear indication of the resilience and steady growth of African carriers as they continue to rebound from the global disruptions of the past few … Read more
As of January 11, 2025, the U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) have partially supported Elon Musk’s claims in his lawsuit against OpenAI, which is aimed at blocking the company’s transition into a for-profit entity. In a court filing, the DOJ and FTC raised concerns about potential market competition issues … Read more
The Association of Telecommunication Companies of Nigeria (ATCON) has expressed support for the Federal Government’s approval of an increase in call and data tariffs. The move also includes plans to invest in Nigeria’s telecom infrastructure. In a statement on Thursday, ATCON President Tony Emoekpere welcomed the tariff hike, calling it a necessary, though delayed, step. … Read more
Olusegun Alebiosu, CEO of FirstBank Group, has expressed confidence that the proposed N49.7 trillion 2025 budget will deliver much-needed economic stimulus, benefiting households and businesses across Nigeria. Speaking at the Nigeria Economic Outlook 2025 event, Alebiosu highlighted early indicators of economic recovery and noted that the 2025 budget would likely mitigate the strains caused by … Read more
Experts have projected that Nigeria’s economy will experience growth in 2025, despite the challenges faced in 2024. At the Nigeria Economic Outlook 2025 organized by FirstBank, Olusegun Alebiosu, CEO of FirstBank Group, highlighted that improving government revenues and fiscal positions, along with an increase in foreign reserves to over $40 billion, signal optimism for the … Read more
The Federal Government has committed N15 billion to the dualization of the Benin-Akure-Ilesha road, a key infrastructure project spanning 150.7 kilometers. The initiative is part of the Ministry of Works’ budget under the proposed N49.74 trillion 2025 budget. The project will be carried out in two phases. Phase I involves the rehabilitation of the existing … Read more
The Nigeria Postal Service (NIPOST) is working on a close collaboration with the Lagos State Government to boost the e-commerce sector in the state. This partnership aims to enhance last-mile delivery and improve connectivity, ensuring seamless logistics for e-commerce activities in Lagos and nationwide. During a courtesy visit to Governor Babajide Sanwo-Olu, NIPOST’s Postmaster-General, Ms. … Read more
PalmPay has earned recognition in the 2024 KPMG West Africa Banking Industry Customer Experience Survey for delivering outstanding service. The platform surpassed traditional banks in several key areas of customer experience, including seamless transaction processing, reliability, and innovative features. With a Customer Experience (CX) score of 81.6, PalmPay ranks among the top fintechs in the … Read more
The Securities and Exchange Commission (SEC) is set to improve its regulatory framework for borrowing by government entities and corporate organizations. In an interview, SEC Director General Emomotimi Agama emphasized the importance of borrowing for sustaining the financial system and supporting economic growth. He noted the need for strategic management, especially after the Supreme Court … Read more
The Lagos State Government has confirmed that the Mile 2 and Marina transport interchange hubs will be completed within the next 13 months. The construction, which started in July 2024, is part of the government’s broader effort to enhance the city’s transport network and alleviate commuter congestion. These hubs are central to the Lagos Strategic … Read more