Author: Prima News

OpenAI’s decision last week to shut down Sora, its AI video-generation tool, just six months after releasing it to the public raised immediate suspicions. The app had invited users to upload their own faces — so was this some kind of elaborate data grab? According to a new WSJ investigation, the real explanation is considerably more boring: Sora was a money pit that nobody was using, and keeping it alive was costing OpenAI the AI race. So what happened? After a splashy launch, Sora’s worldwide user count peaked at around a million and then collapsed to fewer than 500,000. Meanwhile,…

Lagos Taskforce Chairman Adetayo Akerele has alleged blackmail by Social Media Operators over seized vehicles.   NewsOnline Nigeria reports that the Chairman of the Lagos State Taskforce, Adetayo Akerele, has broken his silence over recent online attacks against him, alleging that the criticism stems from his refusal to grant special favours to certain social media operators seeking the release of impounded vehicles.   Akerele disclosed this during a radio programme, Bosenlo, aired on Lagos Traffic Radio 96.1FM, where he accused individuals identified as Sheriffdeen Ojon and Objectv of orchestrating a coordinated campaign to tarnish his reputation and undermine the credibility…

Nigeria recorded a sharp increase in capital inflows in 2025 with total foreign investment rising to $23.22 billion from $12.32 billion in 2024, driven largely by renewed interest in high-yield financial instruments following recent economic reforms. Data released by the National Bureau of Statistics showed that foreign portfolio investment accounted for the bulk of inflows, highlighting a strong return of short-term capital into the country’s financial markets. Foreign portfolio investment surged to $19.74 billion, up from $8.38 billion in the previous year, representing approximately 85 percent of total capital inflows. The increase reflects heightened investor appetite for Nigeria’s fixed income…

By Yinka Kolawole THE Manufacturers Association of Nigeria (MAN) has raised alarm over the escalating military confrontation involving the United States, Israel and Iran, warning that Nigeria’s chemical and pharmaceutical manufacturers face the gravest risk as global economic shocks ripple through the industrial sector. In a statement, Director General of MAN, Segun Ajayi-Kadir, said the intensifying Middle East crisis has sent “shockwaves across the global macroeconomic landscape,” threatening to reverse recent gains in Nigeria’s economy, including easing inflation, which recently moderated to 15.10 per cent, and improved manufacturing capacity utilisation that had climbed above 60 per cent. According to him,…

By Progress Godfrey The Federal Government has formalised a major agreement to deploy the Products Authentication and Tracking System (PATS), in a decisive move to tackle counterfeit and substandard goods and restore confidence in Nigeria’s markets. According to a statement by the ministry on Thursday, the agreement was signed in Abuja under a Public-Private Partnership arrangement, bringing together the Federal Ministry of Industry, Trade and Investment, Standards Organisation of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC), and Conformity Management Solutions Limited, with technology support from SICPA of Switzerland, to strengthen product verification, traceability and consumer protection.…

There were plenty of goals in the Nigeria Premier Football League on Sunday as Rivers United returned to the top of the table with an impressive 4-2 win over Kun Khalifat. Coached by Finidi George, Rivers United had been away from home in recent weeks, allowing Rangers International to go top. However, their strong comeback victory helped them reclaim first place. Aniekeme Okon opened the scoring before Kun Khalifat responded through Abdulrafiu Omolabi and Sunday Adehi. Iyowuna Douglas scored twice, while Handsome Surveyor also found the net to seal the win. Elsewhere, Shooting Stars defeated Rangers 3-1 in Ibadan. Sodiq…

The World Food Programme’s (WFP) latest monitoring shows a fragile recovery from the disaster.  In the affected regions of Sagaing and Mandalay, one in six households continue to face moderate to severe food insecurity, whilst half of all families remain only marginally food secure, making them exceptionally vulnerable to even the smallest shock. “People who survived the earthquake have barely begun to stand again, and now another blow is knocking them back down,” said WFP Country Director Michael Dunford.Middle East conflict increasing prices The conflict in the Middle East is disrupting transportation and driving fuel shortages across Myanmar.Rising fuel prices are pushing up the cost of moving food and agricultural goods, placing additional strain on households already struggling to afford essentials.The crisis is also…

Trump Mobile executives last month showed off a handset they said was a near-production version of the T1 phone to The Verge. Among other appearance changes, the smartphone had a completely different camera array design than the one still shown on the T1 purchase page.The Verge said it spoke via video call with two Trump Mobile executives, who held up the phone so it could be seen. The interview follows doubts about whether the phone will ever be released, after its second advertised launch date of the end of 2025 came and went without any status updates. Trump Mobile has not responded to…

Rivers Government has disclosed ₦302bn spending under Ibok-Ete Ibas as SERAP pursues transparency case.   NwsOnline Nigeria reports that the Rivers State Government has revealed that over ₦302 billion was spent between March and August 2025 during the administration of former sole administrator Ibok-Ete Ibas, following a legal challenge by the Socio-Economic Rights and Accountability Project.   The disclosures were made in a counter-affidavit filed by the state’s Accountant-General and the Ministry of Budget and Economic Planning in response to a Freedom of Information suit before the High Court of Rivers State in Port Harcourt.   The case, marked PHC/4153/CS/2025…

By Adedapo Adesanya Cascador, a Nigeria-based initiative supporting growth-stage, mission-driven founders building scalable and impactful businesses, has appointed Ms Oyin Solebo as its Chief Operating Officer (COO). According to a statement, Ms Solebo’s appointment signals a strategic shift toward strengthening the systems, discipline, and infrastructure required to help growth-stage companies scale sustainably. The ex-Managing Director of the ARM Labs Lagos Techstars Accelerator is regarded as a seasoned investor and ecosystem builder with deep experience across venture capital, startup acceleration, and corporate innovation in Africa. Her appointment underscores Cascador’s ambition to become a central engine for entrepreneurial scale in Africa, where…