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NDLEA Nabs Intending Hajj Pilgrims With C+caine In Lagos
~0.2 mins read

NDLEA has nabbed intending Hajj pilgrims with c+caine in Lagos.

The suspect are reportedly planning to swallow 200 wraps of c+caine  ahead of their flight to the Hajj pilgrimage but they were apprehended in their hotel room by NDLEA officials.

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Disregard Leaked Documents, Fuel Subsidy Is Gone — Presidential Aide, Bayo Onanuga
~2.0 mins read

Presidential aide, Bayo Onanuga has urged Nigerians to disregard leaked documents, as fuel subsidy is gone.

The attention of the Presidency has been drawn to two fiscal policy documents in circulation that are being given wide coverage by the mainstream media and social media platforms.

One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 is being shared as if it were an executive order signed by President Bola Ahmed Tinubu.

The other is a 65-page draft document with the title “Accelerated Stabilisation and Advancement Plan (ASAP), which contains suggestions on how to improve the Nigerian economy. President Tinubu received a copy of the draft on Tuesday.

We urge the public and the media to disregard the two documents and cease further discussions on them. None is an approved official document of the Federal Government of Nigeria. They are all policy proposals that are still subject to reviews at the highest level of government indeed, one has “draft’ clearly written on it.

According to the Coordinating Minister of the Economy, Mr. Wale Edun, “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.

“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.”

Emanating from the two documents have been reports second- guessing government’s policy on customs tariffs, fuel subsidy and other economic matters.

“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024, as being widely speculated and discussed,” Edun stated.

The Coordinating Minister of the Economy further clarified: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place.

“The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.

“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.

“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations”.

We call on the media to always exercise necessary checks and restraints in the use of documents that do not emanate from official channels so that the members of the public are properly informed, guided and educated on government policies and programmes.

O

 

 

 

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Investopedia
AMD Unveils New AI PC Processors As Competition With Nvidia And Intel Heats Up
~1.5 mins read

Advanced Micro Devices (AMD) unveiled new processors optimized for artificial intelligence (AI) on Tuesday, April 16, to expand its AI PC portfolio. The new products could help AMD better compete with Nvidia (NVDA) and Intel (INTC) in the AI era.

AMD announced the AMD Ryzen PRO 8040 Series, which it says are "the most advanced x86 processors built for business laptops and mobile workstations."

The company also unveiled the AMD Ryzen PRO 8000 Series desktop processor, "the first AI-enabled desktop processor for business users, engineered to deliver cutting-edge performance with low power consumption."

"AMD is further extending its AI PC leadership," the company said in the release, adding that "by leveraging the CPU, GPU, and dedicated on-chip neural processing unit (NPU), new Ryzen AI-powered processors provide more dedicated AI processing power than previous generations."

Lenovo and HP (HPQ) are set to use the new AMD processors in their AI PC offerings. Microsoft (MSFT) said that the company is working with AMD to "further deliver optimized performance and security features on AMD Ryzen-powered Windows 11 desktops and mobile systems.”

The announcement comes as AMD and Intel work to catch up to Nvidia, which dominates the AI chip market. Nvidia and Intel have also announced their own AI PC chips.

Bank of America analysts project that Nvidia could capture more than 75% of the $90 billion AI accelerator market, with 10% to 15% controlled by in-house custom chips by companies such as Alphabet's Google (GOOGL), Microsoft, Amazon (AMZN) and Meta Platforms (META), and another 10% to 15% spread across others including AMD and Intel.

AMD shares were up more than 2% at $163.54 around 1:36 p.m. ET following the release.

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Things Are Challenging In Nigeria And Worldwide, But We Must Take Some Time To Reflect On Our Eagerness To De-market Our Own Country — Reno Omakri Tells Those Posting Pictures Of Split Yams On Social
~1.8 mins read

Reno Omakri has told those posting pictures of split yams on social media to prove that there’s hardship in Nigeria that, things are challenging in Nigeria and worldwide, but we must take some time to reflect on our eagerness to de-market our own country.

This photo is one of the most dishonest photos I have seen in a while, because of the narrative that has followed it. Which is that it is a reflection of the impoverishment of Nigerians.

Even when I was a child partly growing up in Nigeria, Nigerians bought pieces of yam because they could not afford to buy the whole tuber. This is not new practice, and it even happened before I was born and will still occur after we leave this planet. That is why Yeshua (Jesus) said:

“The poor you will always have with you.”

I schooled in England, and as a student there, I used to buy pieces of yam at Peckham, London, England, and that practice still continues today in England. If you live or have lived in England, you know this was and still is true. Does that mean the United Kingdom is finished?

Tubers of yams are not only split into two because of the inability to afford a whole tuber. Often, it is done to prove that the tuber of yam is not spoilt or rotten inside. Many people buy tubers of yam, take them home and find that they are rotten and inedible inside, though they look fine on the outside.

As a result, some traders will cut open the yams to show they are in good condition.

Things are challenging in Nigeria and worldwide, but we must take some time to reflect on our eagerness to de-market our own country.

Please research the Global Hunger Index released annually by the International Food Policy Research Institute, which is the only global body acknowledged for gauging world hunger professionally without any bias.

Nigeria is one of the few countries in Africa making progress year on year. We have coped better than expected, especially with the insecurity in the North, and especially with the Middle Belt. We are not there yet, but we will get there. One reason for this is the introduction of dry season Fadama farming, especially in Northern Nigeria.

The excitement with which we love to project negative news about our country to the world is counterproductive because nobody will come and fix Nigeria for us. So why are we de-marketing ourselves as though some foreigner will come and rescue us from ourselves?

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Actor Deyemi Okanlawon Gives Marital Counsel To A Woman Whose Marriage Is On The Verge Of Br£aking
~0.5 mins read

Actor Deyemi Okanlawon has given marital counsel to a woman whose marriage is on the verge of br£aking.

He said there is no need for advise again because everything is now balanced and she can return to her father or brother’s house.

The woman said she and her husband had an heated argument and she ab¥sed his mom and he sl@pped her in return. She went to their house with her swollen face and her brother brought two boys to be@t up the man. On her return, she met her bags outside and she asking for advise on what to do because she loves her husband

 

 

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Investopedia
Tesla's AI-Related Nvidia Spend Could Reach $4 Billion In 2024, Elon Musk Says
~2.2 mins read

Tesla (TSLA) Chief Executive Officer (CEO) Elon Musk indicated he expects the electric vehicle (EV) pioneer to spend between $3 billion and $4 billion on Nvidia (NVDA) hardware for artificial intelligence (AI) training in 2024.

Musk said on X, another one of his companies, that his "current best guess for Nvidia purchases by Tesla are $3B to $4B this year."

He noted, "Of the roughly $10B in AI-related expenditures I said Tesla would make this year, about half is internal, primarily the Tesla-designed AI inference computer and sensors present in all of our cars, plus Dojo," Tesla's supercomputer system. Musk said that for "building the AI training superclusters," Nvidia hardware accounts for around two-thirds of the cost.

Tesla's Nvidia spending highlights the chipmaker's prime position amid the AI boom. Nvidia has emerged as a major beneficiary of the AI era, with the its stock more than doubling since the start of 2024 after tripling in 2023. The company has become the third-largest U.S. company by market capitalization, behind Microsoft (MSFT) and Apple (AAPL).

Bank of America analysts projected Nvidia could capture more than 75% of the $90 billion AI accelerator market. In comparison, the analysts expect that the rest of the market could be spread among others like Advanced Micro Devices (AMD) and Intel (INTC), as well as in-house custom chips by companies like Alphabet's Google (GOOGL), Microsoft, Amazon (AMZN), and Meta Platforms (META).

Nvidia recently unveiled its next-generation AI system, Rubin, coming in 2026, succeeding the upcoming Blackwell system, which analysts have called the "most ambitious project in Silicon Valley." Analysts believe the yet-to-be-released Blackwell platform is already sold out into 2025.

Musk reportedly told Nvidia to ship AI chips reserved for the EV maker to his companies X and xAI, according to .

The CEO seemingly confirmed that he did reallocate Nvidia hardware meant for Tesla, saying in an X post replying to the article, "Tesla had no place to send the Nvidia chips to turn them on, so they would have just sat in a warehouse."

The news may support some concerns that Musk cannot prioritize Tesla as he is CEO of several companies other than the EV maker, including xAI and SpaceX, and that he is running the separate companies as one entity sharing resources.

The reallocation is especially significant given the demand for Nvidia chips has outpaced supply, leading the company to carefully select which customers are first to receive its AI chips.

Tesla shares were down 1.2% to $172.70 as of 10:08 a.m. ET Wednesday, while Nvidia shares rose 2.3% to $1,191.50.

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