The race to increase AI data center capacity is becoming just as important as the race to develop better AI models. Major technology figures, including Mark Zuckerberg and Elon Musk, are calling for a rapid expansion of computing infrastructure as demand for AI services continues to grow. The message from the tech industry is becoming…
Qatar’s position as one of the world’s biggest LNG exporters has been badly hit by the ongoing US-Iran war, with the country’s shipments falling by 96% as damage to the Ras Laffan energy complex and the closure of the Strait of Hormuz disrupt supplies. Only 18 Qatari LNG cargoes have left the country in the…
Nigeria’s public debt has exceeded the government’s debt sustainability threshold after the Federal Government borrowed 61.2% more than originally budgeted to finance a wider-than-expected fiscal deficit in 2024, according to data from the Budget Office analyzed by BusinessDay. The report showed that total public debt rose to ₦144.67 trillion, pushing the country’s debt-to-GDP ratio to…
A new report by ActionAid International and ActionAid Nigeria has raised concerns over Nigeria’s fiscal priorities, revealing that the country now spends nearly five times more on servicing external debt than on healthcare and education combined. The report talks about the growing burden of debt repayments on Africa’s largest economy, warning that rising obligations to…
The International Monetary Fund (IMF) has said the Nigerian naira remains significantly undervalued despite recent improvements in the country’s foreign exchange market, highlighting both progress and continued challenges in Nigeria’s economic recovery. In its latest Article IV consultation report on Nigeria, the IMF estimate that the naira was undervalued by 25.6 percent based on its…
