Oil Prices at 8-Month Lows Amid U.S. Recession Concerns and Middle East Tensions. Oil prices have hit eight-month lows, driven by concerns over a potential recession in the United States, despite ongoing tensions in the Middle East that could threaten supply from the region. Brent crude futures dipped slightly by 0.1% to $76.77 a barrel,…
Lagos Secures €410 Million for Blue Economy Development. The Lagos State Government has successfully secured €410 million in funding to advance its blue economy initiatives, focusing on integrating road, rail, and water transportation systems. This ambitious project aims to create a seamless, affordable, and sustainable commuting experience for residents, with a strong emphasis on decarbonizing…
NGX Regulation CEO Calls for Unified ESG Regulatory Body in Nigeria. Olufemi Shobanjo, the Chief Executive Officer of NGX Regulation (NGX RegCo), has urged the establishment of a unified Environmental, Social, and Governance (ESG) regulatory body in Nigeria. Speaking at the 2024 FITC Sustainability ESG Summit on the theme “From Vision to Action – Leading…
30 million GSM lines not properly linked to NIN — Telcos The Chairman of the Association of Licensed Telecom Operators of Nigeria, Gbenga Adebayo, has stated that more than 30 million phone lines are not properly linked to a National Identification Number and remain at risk of disconnection. He said these lines are mainly in…
Nvidia’s AI Chip Delay Could Impact Microsoft, Google, and Meta. Nvidia’s upcoming artificial intelligence (AI) chips, which have been highly anticipated by major tech companies, could face a delay of three months or more due to design flaws, according to a report by tech publication The Information. This potential setback might affect key customers such…
U.S. Drillers Cut Oil and Gas Rigs for the First Time in Three Weeks: Baker Hughes Report. U.S. energy firms reduced the number of operating oil and natural gas rigs for the first time in three weeks, according to a report by energy services firm Baker Hughes released on Friday. The oil and gas rig…
Shell Surpasses Forecasts with $7.7 Billion Quarterly Profit in 2024. Shell has reported a profit of $7.7 billion for the second quarter of 2024, surpassing analysts’ expectations of $6.46 billion. While this figure marks a decline from the $9.65 billion profit reported in the same quarter last year, it reflects the company’s robust operational and…
Nigeria and Kenya Lead the Way in Google’s Startups Accelerator Program. Kenya and Nigeria have emerged as the frontrunners in the latest cohort of the Google for Startups Accelerator Africa program, with the two countries dominating the list of 10 innovative startups selected from across the continent. Out of the 1,000 applicants, 10 startups were…
Seaports Deserted as Nationwide #EndBadGovernance Protests Sweep Across Nigeria. Nigeria’s seaports have fallen silent as widespread #EndBadGovernance protests sweep across the nation, with demonstrators demanding an end to economic hardship and poor governance. The protests, which began on August 1, 2024, in major cities, are set to continue until August 15. Cities such as Lagos,…
NIMASA and Delta Community opt for Alternative Dispute Resolution in CSR Dispute. The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Abade-Toru Manga Community Development Initiative have agreed to resolve a dispute through Alternative Dispute Resolution (ADR). This decision was made during a session before the House of Representatives Committee on Public Petitions, which…
