The Nigeria Data Protection Commission (NDPC) has reported a significant milestone in its efforts to ensure data protection compliance, having generated over N400 million through its enforcement actions and remedial measures. This announcement was made by the NDPC National Commissioner, Vincent Olatunji, during a news conference in Abuja to commemorate the 2024 Global Data Privacy…
The Central Bank of Nigeria (CBN) has taken decisive steps to tackle the backlog of verified foreign exchange (forex) transactions, injecting US$500 million into various sectors. This move follows closely on the heels of the recent disbursement of approximately US$2.0 billion to settle outstanding commitments in the manufacturing, aviation, and petroleum industries. Speaking on Monday…
President Bola Tinubu is facing increasing criticism over his handling of the economy, with many expressing doubts about his ability to turn around Nigeria’s economic fortunes. Just a month into the year, there is widespread skepticism about the economy’s direction, leading some to question Tinubu’s reputation as a competent economic manager. If the current administration…
A recent report from the Massachusetts Institute of Technology (MIT) has highlighted that, contrary to fears of widespread job loss due to artificial intelligence (AI), human workers remain more cost-effective than AI for many tasks. The findings suggest that current AI technology is only economically viable for a limited number of industries. The study, which…
The upcoming 21st Annual Daily Trust Dialogue, scheduled for Thursday in Abuja, is set to feature a lineup of distinguished speakers and guests. Among them is Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, who will be joining other eminent personalities to analyze the various economic reforms implemented by President Bola…
Nigeria’s 2024 budget has sparked discussions and concerns due to its record increase in deficit. The budget, signed by President Bola Tinubu, aims to balance the country’s financial needs with its long-term economic goals, prompting questions about the government’s borrowing practices and revenue structure. Addressing the concerns, a government official highlighted the commitment to responsible…
Improved internet access in Nigeria and Tanzania has reportedly contributed to a significant reduction in poverty rates, according to a recent brief released by the World Bank. The brief, titled “Digital transformation drives development in Africa,” highlights the positive impact of increased internet exposure on poverty reduction and economic participation in these countries. The World…
The Nigerian government has affirmed its commitment to strengthening collaboration with the International Labour Organisation (ILO) to extend social safety nets across the country. Mrs Nkeiruka Onyejeocha, the Minister of State for Labour and Employment, reiterated this commitment during a meeting with an ILO delegation in Abuja. Onyejeocha emphasized the government’s focus on broadening access…
Mr Yusuf Abdullahi, a legal practitioner based in Ilorin, Kwara State, has advised Nigerians to support locally made goods and products. In an interview in Ilorin on Saturday, Abdullahi highlighted the need for Nigerians to appreciate and patronize goods manufactured within the country. Abdullahi expressed concern over the tendency of Nigerians to prefer foreign-made goods…
The Federal Airport Authority of Nigeria (FAAN) has provided an explanation for the relocation of its headquarters from Abuja to Lagos State. According to Obiageli Orah, the Director of Public Affairs and Consumer Protection at FAAN, the decision was made following consultations with stakeholders and unions to ensure the best interests of the authority and…