Amazon has announced plans to invest a minimum of $20 billion in Pennsylvania to bolster its data centre infrastructure, reinforcing the company’s commitment to artificial intelligence development and cloud computing expansion. The move highlights Big Tech’s growing dedication to substantial capital investments in generative AI, as leading global firms continue to compete in delivering the…
The Federal Government has approved maintenance dredging of the $1.5 billion Lekki Deep Seaport channel from 16.5 metres to 17 metres, targeting 19 metres eventually. Managing Director of Nigerian Ports Authority (NPA), Abubakar Dantsoho, disclosed this in a statement on Sunday by Mr Okechukwu Onyemekara, General Manager, Communication and Strategy, after a weekend visit. Dantsoho…
The naira has demonstrated a consistent appreciation against the dollar throughout the week, closing on Friday at ₦1,580.44 in the official foreign exchange market. According to data from the Central Bank of Nigeria’s website, the naira strengthened by ₦4.51 against the dollar on Friday, reflecting a 0.28 per cent increase from Thursday’s closing rate of…
The Ministers of Foreign Affairs of Member States of the European Union (EU) and the African Union (AU) are set for the 3rd AU-EU ministerial meeting in Brussels, Belgium. This is contained in a statement issued on Wednesday by Mrs Wynne Musabayana, Head of Communication of the African Union Commission (AUC). She said the meeting…
A collective effort to share knowledge on best practices, harmonise audit standards and invest in capacity building will boost Nigeria’s ability to detect inefficiencies and foster a culture of transparency in governance. Gov. Babajide Sanwo-Olu of Lagos State made the assertion on Wednesday in Lagos. Sanwo-Olu spoke at the 54th Bi-Annual Conference of the Body…
Speaker of the House of Representatives, Mr Abbas Tajudeen, has described Nigeria as one of the most attractive and lucrative investment frontiers in Africa. Abbas made this known on Wednesday in Abuja at the maiden edition of the Nigeria-Italy Investment Summit 2025 (NIIS 2025), themed “Building Bridges: Unlocking Opportunities.” The summit, organised by Giant Gee…
U.S. trade with Africa ‘will be much more focused around a reciprocal relationship, one that addresses the needs on both sides,’ says ambassador Troy Fitrell. Ambassador Troy Fitrell, senior official at the U.S. State Department’s Bureau of African Affairs, said that Washington is “very directly, very intentionally” shifting toward an “investment-led” strategy in Africa. “The…
The House of Representatives has urged the Federal Government to ban importation of foreign textiles as a way of rejuvenating the production of local textile materials in the country. This was sequel to the adoption of a motion by Rep. Garba Muhammad (NNPP-Kano) at the plenary on Tuesday. Moving the motion, Muhammad said that the…
The Central Bank of Nigeria (CBN), has donated a motorised fire fighting vehicle to the Bauchi Commmand of the Federal Fire Service (FFS). Mr James Laburta, the CBN Bauchi Branch Controller, said this while presenting the equipment to the command on Tuesday in Bauchi. He said the gesture was part of its corporate social responsibility,…
Dangote Petroleum Refinery & Petrochemicals has assured Nigerians of petrol price stability despite ongoing fluctuations in global crude oil prices. The company emphasised its commitment to maintaining affordable and reliable fuel prices, even as crude prices rise internationally, nothing that despite the fluctuations in global crude oil prices, it has consistently reduced the price of…
