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Nigeria’s Daily Data Consumption Hits 45,800 Terabytes as Digital Usage Surges — NCC

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Nigeria’s Daily Data Consumption Hits 45,800 Terabytes as Digital Usage Surges — NCC The Nigerian Communications Commission ( Nigerian Communications Commission ) has disclosed that Nigerians now consume approximately 45,800 terabytes of data daily, underscoring the country’s accelerating shift toward digital connectivity, internet-based services, and data-driven economic activity. The Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida , made the disclosure on Thursday during the 2026 Workshop for Judges on Legal Issues in Telecommunications held in Lagos. He was represented at the event by Ms Rimini Makama, Executive Commissioner for Stakeholder Management at the NCC. According to the Commission, total data consumption in March 2026 reached approximately 1.42 million terabytes, a significant increase compared to 995,000 terabytes recorded during the same period in 2025. The sharp rise highlights Nigeria’s rapidly expanding digital ecosystem, driven by inc...
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APM Terminals Commits $600 Million to Modernize Nigeria’s Ports and Logistics Infrastructure

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APM Terminals Commits $600 Million to Modernize Nigeria’s Ports and Logistics Infrastructure Global port operator APM Terminals has announced a fresh $600 million investment in Nigeria aimed at accelerating port modernization, improving logistics infrastructure, and expanding technology-driven maritime operations. The commitment was disclosed during a high-level meeting between President Bola Ahmed Tinubu and senior executives of APM Terminals on the sidelines of the Africa CEO Forum in Kigali, Rwanda. The investment is expected to significantly enhance the modernization of Apapa Port in Lagos, Nigeria’s busiest and most critical maritime gateway for imports and exports. According to discussions at the forum, the capital injection will focus on improving cargo processing efficiency, reducing port congestion, upgrading logistics systems, and integrating advanced technology to streamline operations across the maritime value chain. Nigeria’s ports have long been central to the count...
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Lightrock Launches $500 Million Clean Energy Fund Targeting Africa and Asia

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Lightrock Launches $500 Million Clean Energy Fund Targeting Africa and Asia Private equity firm Lightrock has launched a new $500 million clean energy fund aimed at supporting growth-stage companies expanding access to affordable and sustainable energy across Africa and Asia. The announcement, reported by Bloomberg, highlights the increasing flow of global capital into climate-focused infrastructure and energy transition solutions in emerging markets where electricity access gaps remain a major development challenge. The new fund, known as Accelerate7, will focus on high-impact investments across Sub-Saharan Africa, South Asia, and Southeast Asia, with a strong emphasis on scalable businesses driving energy inclusion and sustainability. Key sectors targeted by the fund include electricity access expansion, clean cooking solutions, electric mobility, and energy storage technologies, areas seen as critical to accelerating the global shift toward low-carbon and inclusive energy syste...
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Naira Shows Resilience as Pound Weakens Amid UK Political Uncertainty

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Naira Shows Resilience as Pound Weakens Amid UK Political Uncertainty The Nigerian Naira has continued to show signs of recovery and resilience in the first half of May, rebounding from April lows as shifts in global currency dynamics and domestic liquidity management measures support stability in the foreign exchange market. At the same time, the British pound sterling has come under pressure, hitting monthly lows amid rising political uncertainty in the United Kingdom, raising concerns about fiscal stability and investor confidence in the UK economy. Market reports indicate that the pound weakened following political tension within the UK’s ruling Labour Party, after senior political figures signaled potential leadership challenges against Prime Minister Keir Starmer. The development has intensified scrutiny of the government’s economic management and efforts to control national debt. Manchester Mayor Andy Burnham’s perceived political positioning has further fueled speculation a...
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Cooking Gas Prices Rise to N1,500 per Kilogram in Lagos Amid Supply Shortages

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Cooking Gas Prices Rise to N1,500 per Kilogram in Lagos Amid Supply Shortages Retail prices of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, have climbed to about N1,500 per kilogram in parts of Lagos as worsening supply shortages continue to place pressure on Nigeria’s domestic gas market. Market checks conducted by Petroleumprice.ng revealed that Navgas remained the only depot on the Lagos mainland with available LPG stock for loading as of Tuesday, highlighting growing supply constraints within the sector. The sharp increase in cooking gas prices is raising concerns among households, small businesses, food vendors, and commercial users already grappling with rising living costs and broader inflationary pressures across the Nigerian economy. Industry operators say the current supply challenges are being driven by a combination of logistics bottlenecks, reduced product availability, foreign exchange pressures, high import costs, and disruptions within domesti...
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PenCom Approves Regulatory Forbearance for PFAs to Participate in Dangote Refinery IPO

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PenCom Approves Regulatory Forbearance for PFAs to Participate in Dangote Refinery IPO The National Pension Commission has granted Pension Fund Administrators (PFAs) regulatory forbearance to participate in the planned $50 billion Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals , a move expected to deepen domestic capital market participation in one of Africa’s largest industrial projects. The refinery’s highly anticipated IPO, expected later this year, is projected to become one of the biggest public offerings in Nigeria’s corporate history and could significantly reshape investment activity within the country’s financial and industrial sectors. By granting regulatory flexibility, PenCom is enabling PFAs to consider investment participation within approved risk management frameworks, thereby opening the door for pension assets to support large-scale industrial and infrastructure-related investments. Industry analysts view the development as a majo...
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Despite AI Scanner Investment, Manual Checks Persist at Lagos Airport

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Despite AI Scanner Investment, Manual Checks Persist at Lagos Airport Concerns are mounting over the continued use of manual baggage checks at the Murtala Muhammed International Airport despite the Federal Airports Authority of Nigeria’s (FAAN) earlier promise of a major digital transformation driven by advanced AI-powered security technology. Last year, the Federal Airports Authority of Nigeria announced the deployment of high-tech artificial intelligence security scanners at the airport as part of efforts to modernize passenger processing, strengthen aviation security, improve operational efficiency, and eliminate direct human contact during baggage inspections. The initiative was widely viewed as a significant step toward aligning Nigeria’s aviation sector with international airport security and automation standards. The AI-powered scanners were expected to reduce delays, minimize physical interference with passengers’ luggage, improve transparency, and curb opportunities for e...
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