Japan said Monday it had decided to inject more than $5 billion into semiconductor venture Rapidus. Rapidus aims to mass-produce next-generation chips in the country by 2027. The Ministry of Industry announced it would allocate 802.5 billion yen ($5.4 billion) to a company that is a joint venture between Sony, Toyota, IBM, and others. According…
MTN Group and Airtel Africa have agreed to share mobile phone network infrastructure in Nigeria and Uganda. On Wednesday, the two companies stated that the agreement is designed to protect investments while expanding service coverage. Mobile operators in Africa are experiencing sustained demand for digital and financial services, but the cost of building and maintaining…
Tech giant Microsoft will invest $298 million on artificial intelligence (AI) and data centre infrastructure in South Africa, the company’s vice-chair said Thursday. In January, the multinational company revealed plans to offer AI and cybersecurity training to one million South Africans by 2026. “We are increasing our investment to expand our AI and data center…
TikTok began restoring service to users in the United States following a temporary and voluntary shutdown that lasted less than a day. The company said Sunday that it was reinstating access after President-elect Donald Trump vowed to issue an executive order to restore the app. “We thank President Trump for providing the necessary clarity and…
According to the Presidency, Vice President Kashim Shettima led other Nigerian authorities in signing a Memorandum of Understanding (MoU) between Nigeria and telecom behemoth Ericsson on a 5G Innovation Lab. The agreement aims to increase Nigeria’s technological capabilities and rank it among the world’s top 5G network users in terms of productivity. Stanley Nkwocha, the…
The Parent company of Facebook, Instagram, and WhatsApp, Meta Platforms Inc., has been fined $220 million by the Federal Government for using its dominating market position to commit discriminatory activities against Nigerian users and for unauthorisedly appropriating personal data without authorization. According to the statement by the Federal Competition and Consumer Protection Commission (FCCPC) on…
Governors from several states have demanded a return of their entire equity interests in the $10 billion National Integrated Power Projects, which are managed by Niger Delta Power Holding Company. The governors under the Nigeria Governors’ Forum, its umbrella organization, also stated that the Federal Government need to reimburse an adequate rate of return for…
After the removal of the wasteful fuel subsidy on May 29, 2023, President Bola Ahmed Tinubu launched the Presidential CNG Initiative in October last year to deliver cheaper, safer and more climate friendly energy. The CNG Initiative was designed to deliver compressed natural gas especially for mass transit. The Federal Government as part of the…
