South Korean President Yoon Suk Yeol said on Tuesday his country will invest 9.4 trillion won ($6.94 billion) in artificial intelligence by 2027 as part of efforts to retain a leading global position in cutting-edge semiconductor chips. The announcement, which also includes a separate 1.4 trillion won fund to foster AI semiconductor firms, comes as South Korea tries to keep abreast with countries like the United States, China and Japan that are also giving massive policy support to strengthen semiconductor supply chains on their own turf. Semiconductors are a key foundation of South Korea’s export-driven economy. In March, chip…
Author: Omolemi Eboisetale
The Nigeria Labour Congress (NLC) has voided the return of the National Chairman of Labour Party, Julius Abure, and his National Working Committee at a national convention recently held in Nnewi, Anambra State. In a communiqué issued at the end of the NLC Political Commission Stakeholders meeting in Abuja, the Congress passed a vote of no confidence on the purported convention and the leadership that emerged from it. The communiqué, made available to newsmen in Abuja, was signed by Prof. Theophilus Ndubuaku, Chairman, NLC Political Commission; Mr Abdulwahed Omar, former President, NLC; Mr S.O.Z. Ejiofor, Chairman, Board of…
As Muslims prepare to celebrate the Eid-el-Fitr, the Department of State Services (DSS) has issued an advisory, urging citizens to prioritize security amidst the festivities. The DSS, through its Director of Public Relations and Strategic Communications, Dr. Peter Afunanya, stated the need for all to be vigilant and responsible during the period of celebration. The message, conveyed in a statement to Vanguard on Tuesday, stated the significance of Eid-el-Fitr as a time of reflection, prayer, and gratitude for Muslims worldwide. The DSS congratulated the Muslim Ummah on the peaceful completion of Ramadan, emphasizing the core values of love, mercy, and…
CNN International correspondent Larry Madowo has sparked controversy over Nigeria’s visa fees, relaying the hurdles faced by travelers seeking entry into the country. Madowo, known for his reporting across Africa, took to LinkedIn on Monday to express his dismay at the steep $215 fee for a one-month, single-entry visa. He wrote, “Nigeria just charged me $215 for a one-month, single entry visa. Again. I was here three weeks ago – paid the same $215. This is actually my third time in Nigeria this year, so they have made $645 from me in 2024 alone. “The visa itself costs $25, but…
The Foundation for Partnership Initiative in the Niger Delta (PIND), has issued a call to stakeholders in Ondo State’s Niger Delta region to prioritize peace initiatives and quell youth unrest. Recognizing the pressing need for proactive measures, the foundation has launched extensive youth empowerment programs aimed at fostering engagement and nurturing regional tranquility. Speaking at the Niger Delta peace and security network meeting convened at the Sunview Hotel, Alagbaka, Akure, Mrs. Stella Ikeokwu, the facilitator of PIND, addressed underlying causes of conflict. She pinpointed issues such as land disputes, water boundary clashes, and inter-cult tensions as primary drivers of youth…
Students of Nnamdi Azikiwe University, Awka, Anambra State, have mobilized efforts to raise a ransom of N2 million for the safe release of their kidnapped colleague, Miss Francisca Chioma. The Lady, a student of the Science Education Department, went missing on April 5 while en route to attend a burial ceremony in Anambra State. Reports indicate that Chioma’s disappearance has instilled panic and fear among her peers, friends, and family members, as all attempts to contact her proved futile. Chief Security Officer of the institution, Ken Chukwurah, confirmed the incident and disclosed that relevant security agencies have been alerted, including…
A recent report from the World Bank reveals a prolonged high inflation throughout 2024. Despite efforts to implement macroeconomic and fiscal reforms, Nigeria is expected to grapple with a year-on-year inflation rate of 24.8 percent, according to the World Bank’s Africa’s Pulse Report for April 2024. This projection, albeit lower than the February 2024 inflation figure of 31.7 percent, underscores the ongoing struggle to stabilize the economy. The report also reaffirms the World Bank’s forecast of a modest 3.3 percent economic growth for Nigeria in 2024, with a slight reduction in projections for 2025 to 2026, now at 3.6…
The Federal Government has announced Thursday, April 11, 2024, as an additional public holiday in honor of Eid-El-Fitr. This was communicated through a statement by Dr. Aishetu Ndayako, the Permanent Secretary of the Ministry of Interior, shared on the ministry’s official platform on Tuesday. The statement reads; “The Federal Government has approved Thursday, April 11, 2024 as an additional public holiday to celebrate this year’s Eid -El-Fitr. “The Minister of Interior, Dr Olubunmi Tunji-Ojo, while congratulating the Muslim Ummah for a successful completion of a month of spiritual rejuvenation, reiterates President Bola Ahmed Tinubu’s firm commitment to providing a…
Former President Donald Trump has reignited the abortion debate by suggesting that decisions regarding abortion should be left to individual states rather than endorsing a nationwide ban. Trump’s comments come amid ongoing debate and legal battles surrounding reproductive rights in the United States. In a video posted on social media, Trump took credit for the overturning of Roe v. Wade but stopped short of advocating for a nationwide prohibition on abortion. Instead, he said that the decision should be made at the state level through legislative processes or popular vote. Trump’s recent stance marks a departure from his…
The Independent Media and Policy Initiative (IMPI) has projected an economic milestone for Nigeria, anticipating the nation’s GDP to reach $1 trillion within the next eight years under the leadership of President Bola Tinubu. According to Mr. Niyi Akinsiju, Chairman of IMPI, the proposed policy agenda, particularly the collaboration with private sector entities, is poised to propel the nation towards this ambitious economic milestone. Akinsiju said that the convergence of public and private investments, coupled with strategic capital formation, lays the foundation for Nigeria’s economic resurgence. Despite historical challenges such as corruption and bureaucratic impediments, IMPI remains bullish on…
French media group Vivendi’s Canal+ made an all-cash mandatory offer on Monday to buy all the shares of South African broadcaster MultiChoice it does not already own for 35 billion rand ($1.9 billion), both companies said. That offer at 125 rand per share follows an indicative offer of 105 rand made by Canal+ on Feb. 1, which MultiChoice rejected as significantly undervaluing the company. The need to make a mandatory offer was triggered by Canal+, MultiChoice’s biggest shareholder, subsequently raising its holding in the firm above the 35% threshold. Its new offer values MultiChoice, in which it now…
To bolster electrification efforts across sub-Saharan Africa, Richard Nelson has been appointed as the new Power Africa Coordinator, effective April 4, 2024. This appointment comes at a crucial time as the initiative aims to double access to electricity in the region through a collaborative effort involving 12 U.S. government agencies, African governments, over 200 private sector companies, and 22 international development partners. Previously serving as the Mission Director to USAID/Uganda and as the Deputy Coordinator for Power Africa based in Pretoria, Nelson’s expertise in coordinating multi-stakeholder partnerships will be instrumental in driving the initiative forward. Power Africa, launched…