Alibaba said QwQ-32B, has a “comparable performance” to DeepSeek while also requiring far less data to run. Alibaba shares surged more than seven percent in Hong Kong trade on Thursday after the Chinese tech giant launched an artificial intelligence model it says can compete with DeepSeek, this year’s surprise tech star. Investors have been riding
Crude oil prices continue to slip as the naira maintains its stability against the dollar in the foreign exchange market. Oil prices fell about two per cent to a 12-week low this week amid reports that OPEC+ will proceed with a planned oil output increase in April. Brent futures fell $1.19, or 1.6 per cent,
The Transmission Company of Nigeria has announced an increase in power generation to 5,801.84 megawatts. A statement signed by its management on Wednesday said the feat is yet another milestone in peak generation, and maximum daily energy ever attained in Nigeria’s power sector. “(TCN) is pleased to announce that the nation’s power sector has achieved
Nigeria is pumping 70,000 barrels per day above its OPEC+ target, according to a survey by Reuters. According to the survey, Organization of the Petroleum Exporting Countries oil output rose in February, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output above its target within the wider
The Federal Ministry of Youth Development, the Niger State Government, and the National Agricultural Land Development Authority (NALDA) have signed a Memorandum of Understanding (MoU) to engage 100,000 Nigerian youths in agriculture. The agreement, aimed at bolstering food security and job creation, was signed today at the Council Chamber of the Government House in Minna,
A Federal High Court in Abuja has heard that former Minister of Power, Saleh Mamman, allegedly paid the dollar equivalent of N200 million in cash for a five-bedroom property in Wuse, Abuja. The revelation came during Mamman’s ongoing trial, where he faces charges of money laundering amounting to N33.8 billion. Mohammed Ashelk Jidda, the 14th
President Bola Tinubu has appointed Adeladan Olarinre and Mukhtar Muhammed as permanent secretaries in the Federal Civil Service. The Director of Information and Public Relations, Office of the Head of the Civil Service of the Federation, Eno Olotu, announced the appointments in a statement on Wednesday in Abuja. Olarinre will represent Oyo State, while Muhammed
A Virgin Atlantic Airways passenger, Ahmed Rabiu, has told a Federal High Court in Lagos that Virgin Atlantic Airways has neither compensated him for his lost luggage nor replaced it, contrary to the airline’s claims. Rabiu, who made the claims in his response to Virgin Atlantic Airways’ Statement of Defence, said that his lawsuit was
The Senate Committee on Ethics, Code of Conduct, and Public Petitions has dismissed a petition bordering on sexual harassment filed by the Senator representing Kogi Central, Natasha Akpoti-Uduaghan, against Senate President Godswill Akpabio. The Chairman of the Committee, Senator Neda Imasuen, stated this on Wednesday during a probe hearing against Akpoti-Uduaghan at the National Assembly.
Foreign exchange speculators are afraid of their investments being wiped off as the naira sustains stability against major currencies, writes FELIX OLOYEDE Despite the 3.2 per cent month-on-month dip in the country’s external reserves to $38.46bn at the end of February, the naira strengthened by 8.5 per cent month-on-month to 1,490/$ on the parallel market
