E-Business
FG Rewards 12 Winners of 60-Day App Challenge

Federal government has rewarded 12 youths who won the Federal Ministry of Youth and Sports Development 60-day App Challenge.

Sunday Dare, minister of Youth and Sports Development
10 of the youths received one million Naira each, while five got #500,000 each.
The disbursement held on Sunday during an event to celebrate the maiden National Youth Day observed on November 1.
The Day which was being marked nationally for the first time coincided with the African Youth Day celebration.
The event has as its theme: “Invest in the Youth, Secure Our Future”.
President Muhammadu Buhari used the occasion to appeal to the youth to end the protests and participate in meaningful discussions with the government aimed at comprehensive reforms to end all forms of police brutality against Nigerians.
Buhari, represented by Mohammad Bello, minister, Federal Capital Territory (FCT), said that the protests had led to the disbandment of the Special Anti-Robbery Squad (SARS).
According to him, the demands of the youths have been heard by the Federal Government.
Buhari said that the federal government “now wants to hear concrete and practical ideas,” from the youths while acknowledging their constitutional rights to peaceful protests.
”You must realise that protests cannot last indefinitely. My government will not lift a hand to stop or suppress you.
“However, the fact of the matter is that other forces and actors will seek to take over your protests that they may redirect them in ways you did not intend and perhaps do not agree with.
“Every successful protest worldwide has understood that there comes a time when activities must move from the streets to the negotiation table.
“That time for you has come. Do not be afraid of this reality. You should welcome it,” he said.
According to him, it is important that we all strive to use this moment constructively. Too many people have already sacrificed too dearly. It is our duty to use this fateful situation to move ourselves to a more just and caring society.
“As youths, you have a nation and a future to build. My government will always be your faithful partner in this essential and patriotic endeavour,” Buhari said.
“The president, however, expressed concern for the use of force against innocent, law-abiding persons, particularly young people.
“No one who is obeying the law, whether they are in line waiting for a taxi or in a peaceful protest line, should be harassed or brutalised by law enforcement agencies.
“It is because of my abiding belief in the people’s constitutional rights that we moved with dispatch to abolish SARS.
“We are also considering other reforms that will enhance the quality of law enforcement and improve the relationship between the police and public which is a pre-requisite in a just society.
“To allow protests is not a sign of weakness. It is a sign of strength and belief in democracy and faith in the innate goodness of our people.
“This also shows confidence in the ability of our government to work with the people toward a reasonable and practical resolution to any challenge,” he said.
Describing Nigerian youths as agents for social change, economic growth and sustainable development, Buhari said his administration had established no fewer than 25 initiatives aimed at empowering youths across the country.
The president noted that these noble initiatives, ongoing in the last five years, were aimed at placing Nigerian youths on the path of career development, entrepreneurship, skills development and direct employment.
“Today, we will unveil the official logo of the N75 billion Nigeria Youth Investment Fund for the period of 2020 – 2023.
“This novel fund is dedicated to investing in the innovative ideas, skills and talents of the youth and to provide our youth with a special window to access much-needed financing, business management skills and other inputs critical for sustainable enterprise,” he said.
Buhari announced that more than one million applications had already been received since the Youth Investment Fund Portal became functional on October, 12.
He listed other youth-based initiatives consistent with his administration’s policy of positioning the youth for strategic leadership in different fields of endeavour.
They include the birth of the Nigerian Youth Policy in 2019, the Nigeria Youth Investment Fund in July 2020, Young Farmers Initiative, and Digital Skills.
He listed others to be Entrepreneurship, Employability and Leadership/Mentoring (DEEL) programme, which recently received an approval of N4 billion for implementation, and the Not Too Young to Run Act.”
Other initiatives, he said were the Presidential Youth Empowerment Scheme (P-YES), the N-Power, SI and Disaster Management, the Youth Entrepreneurship Support Programme, Graduate Internship Scheme (GIS) and the Youth Enterprise with Innovation In Nigeria (YouWIN).
The president also mentioned the 20 million dollars Technology Fund for Young Innovators as some of the major initiatives empowering youths across the country.
Restating his call for national unity, Buhari said that the youth were better positioned to drive the indivisibility of Nigeria and collectively overcome whatever challenges bedevilling the nation.
“On this special occasion, we affirm our faith and confidence in the indivisible entity called Nigeria and its future.
“We face many challenges but in you, this nation has the collective ability and drive to overcome that which confronts us,’’ he said.
E-Business
OpenAI Eyes Chrome Acquisition if Google is Forced to Sell

Nick Turley, OpenAI’s Head of Product, testified in Washington that the company would be interested in acquiring Google’s Chrome browser if antitrust enforcers succeed in forcing Alphabet to sell the popular web browser.
This testimony was part of a high-profile trial in which the US Department of Justice is pushing to break up Google’s monopoly in the online search and advertising markets, Reuters reported on Tuesday.
The DOJ’s case centres on Google’s dominance in online search, which it argues unfairly stifles competition. A key aspect of the DOJ’s proposed remedies includes requiring Google to divest assets, including its Chrome browser, to restore a more competitive search environment.
According to the report, Turley’s statement provided insight into OpenAI’s competitive positioning within the generative AI space.
He noted that Google’s refusal to partner with OpenAI for access to its search technology within ChatGPT had pushed the company to explore alternative partnerships, particularly with Microsoft’s Bing.
Turley had previously written that ChatGPT leads the consumer chatbot market and did not consider Google its biggest competitor, according to an internal OpenAI document presented by Google’s lawyers during the trial.
He clarified that the document was meant to inspire OpenAI employees and emphasised that the company would still benefit from distribution partnerships, Reuters reported.
Earlier in the day, Turley testified that Google rejected OpenAI’s bid to use its search technology within ChatGPT.
OpenAI had reached out to Google after experiencing issues with its own search provider, Turley said, though he did not identify the provider. ChatGPT currently uses Microsoft’s Bing for search.
“We believe having multiple partners, and in particular Google’s API, would enable us to provide a better product to users,” OpenAI had told Google in an email shown at the trial.
OpenAI first reached out in July, but Google declined the request in August, citing concerns about competition. “We have no partnership with Google today,” Turley said.
The trial also highlighted Google’s internal strategy, including efforts to secure exclusive search agreements with major Android device manufacturers like Samsung.
According to Turley, such exclusivity could hinder the development of competing AI technologies, like ChatGPT, which depend on a range of search and data sources.
E-Business
Digital Consumers are Driving a New Era of Online Shopping, Transforming how Nigerian Youth Buy

The digital revolution is hitting Nigeria’s retail scene fast, and it’s being powered by the country’s youth. Armed with smartphones and a demand for affordability, they’re shaping the e-commerce industry where convenience reigns supreme.
Nigeria’s internet users, reaching more than half its population, creates a strong foundation for e-commerce growth. This growth is significantly fueled by the nation’s youth, a substantial 160 million (70% of the population), whose tech-forward nature drives the popularity of platforms like Temu, satisfying their demand for accessible and budget-friendly online retail.
This generation has flipped the retail script. Value is their compass, price comparisons their weapon, social media their guide, and convenience their non-negotiable. This isn’t just shopping; it’s a calculated pursuit of savvy options, the widest selection, and the best value-for-money deals.
The power of finding a good deal is undeniable, especially for these shoppers watching their wallets. Social media is a testament to this, filled with posts celebrating the newfound ability to purchase items once considered luxuries.
Take Anwulika Udanoh (@Anwulika Udanoh on Facebook), for example. Her recent post, detailing her shopping experience on Temu, is a perfect snapshot of this online shopping revolution. She stumbled upon affordable jewelry on the platform, swayed by glowing reviews, and took a chance. What followed was a delightful surprise: customised earrings bearing her name, a feat once thought impossible.
Even her son’s friend jumped on the personalisation trend with custom pendants. ‘Their prices will shock you,’ she wrote, with genuine excitement. And despite any concerns about longevity, the sheer joy of affordable, personalised style at good quality won her over. That’s the power of this shift.
This goes beyond mere bargain hunting; it’s about empowerment. It’s about unlocking the ability to express your unique style without sacrificing your financial stability. It’s about finding those small sparks of joy, like personalised jewelry that feels uniquely yours. For many, these platforms are a portal to a more colourful and individually tailored life.
Then there’s the spirit of adventure, captured in a simple tweet by Steph (@steph on X): ‘ordered a couple of desk items, wish me luck.’ It’s the essence of a generation eager to discover new ways to elevate their everyday life.
Launched in the country in November 2024, Temu offers a diverse selection that aligns with the dynamic needs of young Nigerians. The direct-from-factory online marketplace is known for cutting out layers of middlemen and their associated markups and costs, passing on savings to consumers. Serving more than 90 markets globally, Temu has become one of the most visited e-commerce sites worldwide and a top Apple-recommended app of 2024.
Let’s be real: budgets matter. In a country where every naira is carefully considered, competitive pricing and accessible payment methods, aided by partnerships like Temu and Verve, empower Nigerian shoppers with greater choice and freedom to embrace trends while making the budget go beyond. It’s like opening up a world of possibilities.
Adding to the appeal is a user experience designed for the mobile age. With 193.9 million cellular connections, smartphones are the gateway to this digital world, and intuitive platforms allow for seamless browsing and purchasing on the go, perfectly aligning with the dynamic rhythms of young Nigerian life.
This mobile-first approach is further amplified by the power of social proof. In a nation of 31.60 million social media users, reviews and recommendations carry significant weight, transforming satisfied shoppers into passionate brand advocates.
A growing digital environment, particularly in urban areas, presents a rich opportunity for platforms that resonate with the aspirations of young people. They seek more than just products; they want to build online communities, create digital identities, and shape their lifestyles.
Real stories like those of Anwulika and Steph show that Temu isn’t just a place to shop, but a platform that’s unlocking joy, creativity, and financial freedom for Nigeria’s youth. Whether it’s personalised jewellery, playful desk accessories or everyday essentials, Temu is turning everyday purchases into moments of empowerment — proving that with the right platform, anything is possible.
E-Business
Gold Hits Record High Amid U.S. Dollar Weakness and Trade Tensions

Gold prices surged to a fresh record high on Monday, April 21, while the dollar weakened and global stock markets presented a mixed picture, as concerns mounted over former President Donald Trump’s escalating tariff strategy and his ongoing confrontation with the Federal Reserve.
Amid subdued activity due to continued Easter holiday closures in several markets, investors focused on the potential fallout from Trump’s latest trade moves and looked ahead to key economic data releases later this week that may shed light on the broader impact of the evolving U.S.-led trade war.
The administration’s tariff campaign has triggered swift responses from major economies. While some, like Japan, are reportedly seeking accommodations to ease Washington’s trade levies, China issued a sharp warning to governments not to negotiate at the expense of its interests. A spokesperson for China’s commerce ministry said Monday that appeasement and compromise would fail to win peace or respect, calling on nations to avoid sacrificing broader interests for temporary gains.
Beijing’s tone contrasted with Trump’s comments last Thursday in which he signaled ongoing discussions with China, expressing optimism about reaching a deal. However, tensions remain high, with China facing tariffs of up to 145 percent on some goods, and retaliating with duties of 125 percent on U.S. exports.
The growing uncertainty over the global economic outlook has driven investors toward safe haven assets. Gold climbed above $3,384 per ounce, buoyed both by the geopolitical instability and a weakening U.S. dollar. The dollar’s decline has been exacerbated by concerns over Trump’s comments directed at Federal Reserve Chair Jerome Powell, who warned that the tariffs could lead to a temporary rise in inflation and downplayed prospects for interest rate cuts.
Trump criticized Powell for his remarks and hinted at the possibility of removing him from office, stating: “If I want him out, he’ll be out of there real fast, believe me.” Powell has maintained that he will not step down and emphasized the legal foundation of the central bank’s independence.
The dollar fell against major currencies, with the yen and euro gaining strength. France’s finance minister Eric Lombard said Trump’s tariff policies had already damaged the credibility of the U.S. currency and warned that undermining the Federal Reserve would further shake investor confidence. Chicago Fed President Austan Goolsbee underscored the importance of central bank independence, calling it a near-universal principle among economists.
Asian stock markets reflected the uncertainty, with Tokyo’s Nikkei falling 1.2 percent, while gains were seen in Shanghai, Seoul, Singapore, Manila, and Jakarta. Oil prices declined amid renewed fears over global demand, with West Texas Intermediate and Brent crude both dropping 1.7 percent.
Investors are now watching closely for April manufacturing data from key economies, which are expected to provide early signals about the tangible effects of the tariffs. Analysts warn that U.S. fiscal and monetary policy are increasingly being viewed as volatile geopolitical forces rather than stable economic anchors. Stephen Innes of SPI Asset Management said the reputational damage to the U.S. economic brand is becoming entrenched, with global markets and allies adjusting expectations accordingly.
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