Samsung Rolls Out World’s First 200MP Smartphone Camera

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has announced a N1 billion partnership between the ministry and IHS Towers, one of the largest independent communications infrastructure firms in the world, to establish the 3 Million Technical Talent (3MTT) Learning Community. The ministry earlier this month released a 31-page policy document titled Accelerating our Collective Prosperity through Technical Efficiency which outlined plans to boost the country’s economy through the use of technology. It said it would collaborate with other ministries and parastatals, including private sector stakeholders to drive opportunities for startups to facilitate the

By Adedapo Adesanya Nigeria plans to increase the net contribution of the telecommunications sector to the gross domestic product (GDP) by 22 per cent by the end of 2027. This is part of efforts announced by the Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, in the ministry’s 31-page Strategic Blueprint document titled Accelerating our Collective Prosperity through Technical Efficiency, seen by Business Post. In the document, the ministry noted that “As telecommunications continues to evolve in line with new technology and associated opportunities, it is critical to revamp our national approach to account for changing imperatives and

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has revealed that plans to onboard three million tech talents in Nigeria will be done in phases, starting with the training of 30,000 persons in the next three months. Appearing as one of the lead guests at Moonshoot by TechCabal, a two-day event organised by the tech publication in Lagos on Wednesday, he said his ministry would apply a 1-10-100 model, which by definition is a three-phase model. “We are using a 1-10-100-model. We are starting with 1 per cent of our 3 million target, and

By Dipo Olowookere The sustained sell pressure on Nigerian stocks further weakened prices of equities at the local market on Wednesday. It was observed that investors further booked profit on some shares, which have gained in the past few sessions, leaving the market with a 0.28 per cent deep cut as only seven stocks appreciated in value compared with the 23 price losers. Okomu Oil was the leader of the decliners’ gang yesterday, losing N1 to sell for N78 per share, while Unilever Nigeria followed with a 60 kobo loss to settle at N14.40 per share. Zenith Bank fell by

By Dipo Olowookere The Central Bank of Nigeria (CBN) under the leadership of Governor Godwin Emefiele, has been directed by President Muhammadu Buhari to stop providing foreign exchange (Forex) for importation of food into the country. The President gave this directive on Tuesday in Daura, Katsina State, when he hosted Governors elected under the platform of the All Progressives Congress (APC) to Eid-el-Kabir lunch. He said the country must achieve steady improvement in agricultural production and attain full food security. According to him, the foreign reserve will be conserved and utilized strictly for diversification of the economy, and not for

By Investors Hub Asian stocks ended Wednesday’s session on a muted note despite the U.S. temporarily lifting a ban on American businesses working with Chinese telecom giant Huawei. Markets kept an eye on the minutes of the latest Federal Reserve meeting due out later in the day as a protracted trade war threatens to depress global economic growth. The Organization for Economic Co-operation and Development has lowered the 2019 global growth outlook as escalating trade disputes hurt manufacturing and investment decisions. In its latest Economic Outlook, the Paris-based think tank forecast 3.2 percent growth for 2019 versus 3.3 percent estimated

By Dipo Olowookere Treasury bills worth N823.5 billion would be offered for sale to investors in the first quarter of 2019, the Central Bank of Nigeria (CBN) has said. In the Nigerian Treasury Bills Issue Programme First Quarter 2019 released by the central bank, a total of N985.9 billion worth of the debt instruments will mature in the period under review. Business Post reports that the apex bank has already conducted the first sale of T-bills via primary market auction. This exercise was conducted on Wednesday, January 2, 2019 and it was oversubscribed by market players. In the calendar released

By Modupe Gbadeyanka There is no doubt that insurance penetration in Nigeria is low and this is why various stakeholders in the sector are doing everything possible to make things better. Recently, the foremost life insurer, African Alliance Insurance Plc, joined others to take the gospel of insurance to the grassroots through an Insurance Awareness Walk in Abuja. The walk for insurance was held in partnership with the Nigerian Council of Registered Insurance Brokers (NCRIB) and had in attendance the President of the Council of NCRIB, Mr Rotimi Edu; the NCRIB Abuja Area Committee Chairman, Mr Abass Owolabi; the Managing

By Kester Kenn Klomegah The government of Mozambique has opened the 6th licensing round and is currently inviting foreign oil companies, including those from Russia, to participate and bid for the development of projects in the sector in the country. Carlos Zacarias, Chairman of Mozambique’s National Oil Institute (INP), said that the country would be open to evaluating proposals for the concession of hydrocarbon exploration blocks from Russian companies such as Gazprom, Rosneft and Zarubezhneft and from oil companies from other countries. According to reports, Carlos Zacarias, accompanied by Max Tonela, the Minister of Mineral Resources and Energy, has already

Pioneer of Nigeria’s first fully digital bank ALAT, Wema Bank Plc, has taken another giant step towards creating a better and promising future for women in Nigeria and in other parts of the world, as it formally unveiled its proposition specifically for women. The new initiative called Sara by Wema was made public by Managing Director/CEO of the bank, Mr Ademola Adebise, at the Songversation With Aramide show; an event that was organised to commemorate this year’s International Women Day. Speaking at the unveiling, Mr Adebise explained that  Sara by Wema is a vibrant community designed to give the Nigerian

By Dipo Olowookere The economy of Nigeria, measured by the Gross Domestic Product (GDP), is expected to expand by 2.0 per cent in 2021, the research team at FBNQuest has projected. In the third quarter of 2020, Nigeria slipped into the second recession in four years under President Muhammadu Buhari as a result of the two straight declines in the GDP; 6.10 per cent in Q2 and 3.62 per cent in Q3. But both the fiscal and monetary authorities in the country have expressed optimism that this economic crisis would be short-lived as the GDP will record growth in the