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Reforms and Fiscal Gains Signal Nigeria’s Economic Recovery – Wale Edun

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Nigeria’s economy is making significant strides towards recovery and growth, according to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. The Minister made this statement today in Abuja during the 2025 budget defence before the Senate Committee on Finance.

Accompanied by the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, the Accountant General of the Federation, Dr. Oluwatoyin Sakirat Madein, and other Ministry Directors, Mr. Edun outlined the President Bola Ahmed Tinubu-led administration’s efforts to stabilize Nigeria’s economy through a series of key reforms and fiscal measures.

HM Edun highlighted several significant reforms, including the liberalization of the foreign exchange market, the deregulation of petroleum pricing, and the expansion of domestic refining capacity. These initiatives, he explained, are driving fiscal stability, reducing inefficiencies, and establishing a more sustainable economic framework for the country.

While acknowledging that some of these reforms may lead to short-term discomfort, the Minister emphasized their long-term benefits, which include job creation, poverty reduction, and enhanced economic resilience. He further stressed the government’s commitment to infrastructure development, particularly in digital networks and energy, which will serve to improve productivity and attract private sector investments.

The Senate Committee on Finance approved the Ministry’s ₦38 billion 2025 budget and commended the Ministry’s leadership for its unwavering commitment to fiscal discipline and economic recovery. HM Edun expressed confidence in Nigeria’s brighter economic future, noting that these reforms will transform the country’s economic landscape and ultimately improve the standard of living for its citizens.

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Overuse of AI May Lead to Cognitive Decline and Skill Degradation, Experts Warn

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As artificial intelligence (AI) becomes increasingly integrated into daily life, experts are raising concerns about the potential downsides of overreliance on AI-driven tools. While AI can enhance productivity, excessive dependence on it for tasks like writing, decision-making, and problem-solving may have unintended consequences.

Cognitive Decline and Skill Degradation

Analysts warn that constantly using AI instead of engaging in critical thinking and writing can lead to skill erosion. Just as muscles weaken without exercise, the human brain thrives on mental challenges. “The more you rely on AI to generate ideas and content, the less your brain is engaged, potentially leading to cognitive decline over time,” said a neuroscience researcher.

Some studies suggest that intellectual laziness—using AI for tasks one is capable of doing—can reduce neural activity. While AI learns and evolves from user input, the human brain, when underutilized, risks losing its sharpness.

Loss of Authenticity and Originality

Experts also caution that AI-generated content often…

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DeepSeek: The AI Revolution That Shook the Tech World

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DeepSeek, a Chinese artificial intelligence application launched in 2023 and funded by the High-Flyer hedge fund, has sent shockwaves through the global tech industry. Its emergence has disrupted the U.S. technology sector, triggering over $1 trillion in losses across stock markets and cryptocurrencies.

The scale of DeepSeek’s impact lies in its efficiency, innovation, and strategic breakthroughs that have rattled even the most established players in AI. Here’s why DeepSeek is causing such a stir:

  • Cost-Efficiency Beyond Compare: DeepSeek reportedly spent just $6 million to achieve what OpenAI accomplished with $100 million, setting a new benchmark for cost-effective AI development.
  • Defying U.S. Sanctions: Despite sanctions aimed at restricting China’s access to advanced Nvidia chips crucial for AI development, DeepSeek emerged as a testament to China’s technological resilience and ingenuity.
  • Record-Breaking App Adoption: On January 10, 2025, DeepSeek launched its first free chatbot app. By January 27, it had surpassed OpenAI’s ChatGPT…
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A booming continent needs a new payment infrastructure

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Africa is an exciting, vibrant and creative place to do business. But make no mistake, it has its challenges. Currency devaluation, political instability, and service disruptions are endemic. Africa is not for sissies, as the saying goes.

 

In navigating those challenges, relationships matter. It’s not so much about throwing money at a problem, it’s about investing time, building trust, meeting with partners and regulators, and understanding each other’s needs.

Africa offers an enormous upside for those prepared to make this time investment. The continent’s population is set to reach 2.5 billion (http://apo-opa.co/3W7Kp4w) by 2050, and Africa’s people are embracing digital technology, as the World Bank (http://apo-opa.co/3Waln4F) confirms. They are leveraging digital connectivity to improve their lives, educate themselves, send remittances, and start small enterprises. There is value in investing in that level of human development.

The payments opportunity

Running through this African growth trajectory is…

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Owerri: Nigeria’s Hotel Capital Driving Economic Growth

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Owerri, the capital city of Imo State, has emerged as Nigeria’s hotel capital, a title well-deserved due to its thriving hospitality sector and vibrant nightlife. Located in the heart of Eastern Nigeria, Owerri serves as a magnet for tourists, business travelers, and entertainment enthusiasts, making it one of the region’s top destinations.

The hospitality industry in Owerri has seen exponential growth over the years, becoming a cornerstone of the state’s economy. Contributing more than 65% of Imo State’s Internally Generated Revenue (IGR), the sector underscores the significant role of hotels in driving economic activities. From luxury five-star hotels to boutique accommodations, Owerri caters to a diverse clientele, offering world-class facilities, conference venues, and cultural experiences that keep visitors returning.

The city’s appeal lies in its strategic positioning and dynamic culture. Owerri is not only a center for business activities but also a hub…

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A Reflection on Our Financial Reality: How Far Have We Come?

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By Tambuwa Matt Class

Let’s take a moment to examine the harsh financial realities of our lives as Nigerians, realities we often endure without fully understanding the magnitude of their impact.

In 2014, the cost of a 2008 Toyota Corolla Sport was 1.2 million naira. Today, in 2025, that same car—now 17 years old—is being sold for 9 million naira. On the surface, this might seem like a simple case of inflation, but the underlying truth is far more distressing. The real story here is the dramatic devaluation of our currency, the naira, over the past decade.

In 2014, 1.2 million naira was equivalent to $6,000. Fast forward to today, and that same $6,000 is worth about 10 million naira, yet 9 million naira is barely enough to exchange for $5,500. This represents a shocking 700% depreciation in the naira’s value over ten years.

The Price of Living
The implications of this are staggering….

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Zoracom Hosts Transformative StableNet Workshop, Sets New Benchmark in Network Stability

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Zoracom, widely recognized as Nigeria’s leading Network Security Operations Centre (NSOC), has once again demonstrated its commitment to advancing the cybersecurity and network management ecosystem. The company recently organized an exclusive StableNet Workshop, which showcased the latest capabilities of StableNet® 25, a cutting-edge platform designed to revolutionize network stability and observability.

The workshop, held earlier this week, attracted a diverse array of participants, including top professionals, industry experts, and key stakeholders. It provided a dynamic environment for engaging discussions, practical demonstrations, and innovative problem-solving sessions. The event’s central focus was on empowering participants with the knowledge and tools to optimize network operations, with MTN Nigeria serving as a primary case study.

A Resounding Success
The workshop delivered on its promise of fostering growth and innovation, leaving participants highly impressed. Attendees immersed themselves in a comprehensive exploration of StableNet® 25’s powerful features, which are poised to set new industry standards. The event offered…

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OPINION: Lessons from the Hilda Baci Pepper Soup Saga

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Recently, social media was ablaze with a young lady’s grievances over spending ₦6,000 on pepper soup at Hilda Baci’s restaurant, which she likened to “dog vomit.” While her complaint drew widespread attention, it also sparked deeper questions about personal choices, priorities, and social expectations in today’s celebrity-driven culture.

1. Supporting Local Over Celebrity Brands
One has to wonder if the lady in question has no friends, neighbors, or acquaintances running food businesses within Lagos. These are people she knows personally—whose hygiene, cooking skills, and accountability she can vouch for. Instead of supporting those closer to her, she chose a celebrity-owned restaurant, likely drawn by the allure of Hilda’s fame as a Guinness World Record holder.

But why? Was the goal to say, “I ate at Hilda Baci’s restaurant”? If so, the complaint feels more like regret for a failed attempt at celebrity proximity than a genuine critique of service. Supporting local businesses…

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Why Every Graphic Designer Needs an Intel Core i5 Laptop or Higher – Menxtt Technology NG Has You Covered

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In the world of graphic design, creativity knows no bounds—but your laptop should never hold you back. Whether you’re crafting intricate designs, editing high-resolution images, or running multiple creative applications at once, having the right laptop is crucial to bringing your ideas to life. That’s why Menxtt Technology NG, your trusted online IT solutions provider, is recommending Intel Core i5 laptops and above to all graphic designers looking for a seamless and productive work experience.

According to Mrs. S. Ojo Nwosu, Manager of Menxtt Technology NG, “Graphic design is a field that demands power, speed, and reliability. A laptop with an Intel Core i5 processor or higher provides the performance needed to run design software smoothly, handle multitasking with ease, and deliver projects without frustrating slowdowns. At Menxtt Technology NG, we’re dedicated to providing high-quality laptops that help creatives unlock their full potential—without breaking the bank.”

Why an Intel Core i5…

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