In a significant move to support artists in embracing spatial audio, Apple Music has announced that it will increase royalties for musicians by 10% for music in spatial audio. This decision reflects Apple’s commitment to fostering creativity and acknowledging the additional efforts and innovation required in producing content in the immersive audio format. Spatial audio, known for providing a three-dimensional listening experience, has gained popularity as a way to enhance the enjoyment of music. By offering higher royalties, Apple Music aims to incentivize artists to explore and create more content in spatial audio, contributing to the growth and diversification of…
Author: Temitope Nlewemchi
In a notable political development, Senator Ali Ndume has issued a warning to Asiwaju Bola Tinubu, expressing concerns about potential political consequences following discussions about the relocation of key institutions such as the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN). Ndume’s statement reflects the complexities and sensitivities surrounding the proposed relocations, raising questions about the broader political implications. The suggestion of relocating critical institutions like the CBN and FAAN is a contentious topic, with implications for the affected agencies, their personnel, and the regions involved. Ndume’s warning suggests that such decisions could have repercussions…
In a compassionate response to a recent market fire incident, the Governor of Yobe State has announced a significant donation of N100 million to the victims affected by the devastating blaze. This gesture reflects the governor’s commitment to providing immediate relief and support to those impacted by the unfortunate incident. The market fire, which resulted in substantial losses for traders and businesses, prompted the swift intervention of the state government to address the urgent needs of the affected individuals. The N100 million donation is intended to aid in the recovery and rebuilding efforts, providing financial assistance to those who have…
In a move to support Small and Medium Enterprises (SMEs) in Osun State, Governor Adeleke has approved the release of a N1 billion loan. This financial injection is aimed at fostering economic growth, providing financial assistance to SMEs, and promoting entrepreneurship within the state. The allocation of N1 billion underscores the commitment of the Osun State government to stimulate economic activities, create job opportunities, and empower local businesses. Access to affordable financing is crucial for the growth and sustainability of SMEs, and this funding initiative is expected to contribute to the overall economic development of the state. As Infostride News…
Amidst recent speculations and rumors, the Senior Special Assistant to President Tinubu on Media and Publicity, Onanuga, has clarified that there is no plan to move the Federal Capital Territory (FCT) to Lagos. The statement aims to dispel any misconceptions and provide clarity on the government’s position regarding the location of the nation’s capital. The clarification comes in response to unfounded claims and misinformation circulating in various quarters. Onanuga emphasized that such assertions are baseless and lack factual basis, reaffirming President Tinubu’s commitment to upholding established governance structures and respecting the existing status of the FCT. As Infostride News closely…
President Tinubu has embarked on a private visit to Paris, France, marking a temporary departure from official duties for personal reasons. The private visit underscores the President’s right to engage in personal activities and is not associated with any official state functions. While on this private visit, President Tinubu is expected to engage in personal and leisure activities, taking a brief respite from official responsibilities. Private visits by heads of state are common and allow leaders to attend to personal matters, rejuvenate, and spend time away from the demands of public office. As Infostride News closely monitors developments related to…
In a strategic move to bolster economic growth, the Federal Government of Nigeria has allocated N200 billion to support Micro, Small, and Medium Enterprises (MSMEs) and the manufacturing sector. This significant financial commitment aims to stimulate economic activities, promote job creation, and enhance the overall resilience of these critical sectors. The allocation of N200 billion underscores the government’s recognition of the pivotal role played by MSMEs and manufacturing in driving economic development. Access to affordable financing is crucial for the growth and sustainability of businesses in these sectors, and the funding injection is expected to provide the necessary financial support…
The Federal Government of Nigeria has announced plans to impose a ban on specific plastic products as part of its commitment to environmental conservation. Additionally, the government has expressed support for Lagos State’s decision to ban Styrofoam and single-use plastics, aligning with global efforts to address plastic pollution and promote sustainable waste management. The impending ban on selected plastic products underscores the government’s recognition of the environmental challenges posed by certain plastic items and the need to implement measures that reduce their negative impact. Plastic pollution has become a significant global concern, and governments worldwide are taking steps to mitigate…
The Petroleum and Natural Gas Senior Staff Association/ of Nigeria (PENGASSAN) has expressed strong opposition to the planned sale of Shell’s assets, citing concerns over the identity of the potential buyers. The rejection by PENGASSAN highlights the importance of transparency and stakeholder engagement in major transactions within the oil and gas sector. The decision to resist the planned sale indicates the union’s apprehension about the potential impact on its members and the broader implications for the Nigerian oil and gas industry. PENGASSAN is seeking clarity on the identity and intentions of the buyers, emphasizing the need for transparency in transactions…
In a significant step towards combating infectious diseases, particularly malaria and HIV/AIDS, the Federal Government of Nigeria has launched the $933 million Global Fund Grant Cycle-7. This substantial financial commitment aims to strengthen healthcare systems, improve prevention and treatment strategies, and contribute to the reduction of the burden of these diseases in the country. The Global Fund Grant Cycle-7 represents a coordinated effort to secure funding for essential programs focused on malaria and HIV/AIDS. The allocation of $933 million underscores the gravity of the health challenges posed by these diseases and the government’s determination to implement comprehensive measures to address…
In a move geared towards skill development and capacity building, the Federal Government has unveiled a comprehensive plan for artisan training in the building sector across the country. This initiative underscores the government’s commitment to fostering a skilled workforce, promoting entrepreneurship, and addressing the growing demand for skilled artisans in the construction industry. The artisan training program is expected to cover various aspects of the building sector, providing hands-on skills and technical knowledge to individuals interested in pursuing careers as artisans. The training is likely to encompass areas such as masonry, carpentry, plumbing, electrical work, and other essential skills required…
Saidu Alkali, in a recent address, has advocated for increased collaboration between the federal government and private stakeholders to establish a comprehensive transport databank. The call for collaboration underscores the importance of data-driven decision-making in the transportation sector and the potential benefits of a centralized information repository. Alkali emphasized the need for a robust transport databank that encompasses various modes of transportation, including road, rail, air, and sea. A collaborative effort between the federal government and private entities can contribute to the collection, analysis, and dissemination of accurate and real-time data, fostering efficiency, safety, and innovation in the transportation sector.…
In a strategic move to advance its drilling projects, Chevron has successfully secured $1.4 billion in financing. The funds will be dedicated to drilling activities around the Escravos region, marking a significant investment in the development of oil and gas resources in Nigeria. The financing agreement underscores Chevron’s commitment to advancing its exploration and production activities, particularly in key regions like Escravos. The funding is expected to support drilling operations, infrastructure development, and other related activities aimed at optimizing the extraction of hydrocarbon resources in the area. The Escravos region is known for its significance in Nigeria’s oil and gas…
The National Information Technology Development Agency (NITDA) in collaboration with Coursera has officially opened applications for Cohort 3 of the Information Technology (IT) training program for Nigerians. This initiative aims to empower individuals with valuable IT skills, fostering digital literacy and enhancing the country’s workforce in alignment with global technology trends. The partnership between NITDA and Coursera provides an opportunity for Nigerians to access high-quality online courses covering a wide range of IT-related topics. The training program is designed to accommodate participants at various skill levels, from beginners to advanced learners, ensuring inclusivity and the ability to cater to diverse…
In a significant legal development, a court has granted bail to the former Governor of Anambra State, Willie Obiano, following his arraignment over allegations of N4 billion fraud. The bail decision comes amid heightened attention to corruption cases involving public officials and highlights the legal process’s role in ensuring fair and just proceedings. Former Governor Obiano, who served two terms as the governor of Anambra State, was arraigned on charges related to financial impropriety. The allegations involve the mismanagement of public funds, with the prosecution claiming the misappropriation of N4 billion during his tenure. The court’s decision to grant bail…
In a significant milestone for public health, Liberia has received a shipment of 112,000 doses of a malaria vaccine, becoming the fourth African nation to introduce this crucial intervention. Here are the key details surrounding this development: 1. Introduction of Malaria Vaccine: Liberia’s reception of 112,000 doses of the malaria vaccine marks a proactive step in the fight against malaria, a prevalent and life-threatening disease in many parts of Africa. The vaccine, known as RTS,S/AS01 or Mosquirix, has undergone extensive testing and is considered a groundbreaking tool in malaria prevention. 2. Fourth African Nation to Implement the Vaccine: Liberia joins…
The African Development Bank (AfDB) has greenlit an $80 million funding package for the Ekiti Knowledge Zone Project, signaling a significant boost for innovation, education, and economic development in the state. Here’s a closer look at key aspects of this noteworthy initiative: 1. Project Overview: The Ekiti Knowledge Zone Project is a strategic undertaking aimed at creating a hub for knowledge-based industries, innovation, and research. The project envisions the establishment of a zone that fosters collaboration between academia, industry, and government to drive technological advancement and economic growth. 2. Funding from AfDB: The approval of $80 million in funding from…
The Abuja real estate market has long been a barometer of economic activity and investment trends. Recent indicators suggest a potential resurgence in the market after a period of relative stagnation. Here are four signs pointing towards a comeback: 1. Increased Transaction Volume: Observations reveal a notable uptick in real estate transactions in Abuja. The volume of property sales and leases has shown signs of improvement, indicating renewed interest from both buyers and tenants. This surge in activity may be attributed to a growing confidence in the economic landscape and investment opportunities within the city. 2. Infrastructure Development: Ongoing and…
In a move to align with regulatory requirements and enhance user identity verification, OPay, a prominent financial technology platform, has declared its intention to block all accounts that are not linked with the National Identification Number (NIN) by March 1. This decision reflects the ongoing efforts within the financial sector to strengthen Know Your Customer (KYC) protocols and promote a more secure and compliant environment. OPay’s decision to mandate the linking of accounts with NIN is in accordance with regulatory guidelines set by government authorities. The National Identification Number serves as a unique identifier for individuals, and its integration into…
In a bid to modernize and enhance the efficiency of tax collection, a Presidential Committee has proposed the introduction of innovative methods, including the use of Unstructured Supplementary Service Data (USSD), to facilitate the payment of taxes. This forward-looking initiative aims to leverage technology to simplify the tax payment process, making it more accessible and convenient for taxpayers. The proposal suggests the implementation of USSD as one of the means through which individuals and businesses can fulfill their tax obligations. USSD, a mobile communication technology, offers a user-friendly and widely accessible platform that can potentially streamline tax payments and improve…