Washington has spent years trying to keep its most advanced artificial intelligence (AI) chips out of China's hands, but Chinese technology companies have found a way to use some of that computing power without importing the processors themselves.
Figures released by China's General Administration of Customs on Tuesday, November 10, show that semiconductor exports increased 111.1% in US dollar terms between January and October, while the physical volume of integrated circuits exported grew by only 3.2%.
Lee Group of Companies Ltd is developing a $1.8 billion industrial park along the Lagos-Ibadan Expressway in Ogun State, in a project expected to accommodate more than 29 manufacturing factories and generate over 2,500 direct and indirect jobs.
Minister of Budget and Economic Planning, Abubakar Bagudu, disclosed this on Thursday in Abuja during the signing ceremony, where he acknowledged China’s continued support for Nigeria’s economic and social development.
Governor of the CBN, Olayemi Cardoso, has emphasised the importance of engaging directly with businesses to understand the opportunities and constraints affecting financial activity between Nigeria and China, particularly those that could inform efforts to develop deeper, more accessible financial markets.
The discussions covered film distribution, licensing, intellectual property protection and regulatory cooperation, as both countries seek to improve access to their respective film markets.
Emerging markets continue to outperform developed nations in driving world economic expansion, according to the International Monetary Fund’s (IMF) October Outlook figures released by data analytics firm StatiSense.
High interest rates in Nigeria are discouraging investment in the solar energy sector, with PowerChina’s Africa Regional Director, Timmy Shi, identifying the cost of financing as a major obstacle for foreign companies seeking to establish businesses in the country.
China is no longer treating AI-generated video simply as another demonstration of what generative artificial intelligence can do. Cities, film studios, technology companies and streaming platforms are building businesses around it.
This initiative, labelled the U.S.-China AI Dialogue, represents a proactive effort to build operational guardrails around advanced technology before national security triggers spiral out of control.
The President, Bola Ahmed Tinubu has flagged off the construction of the $3.5 billion Bakassi Deep Seaport in Cross River State, describing the project as a strategic investment that will reduce pressure on Lagos ports and reposition Nigeria’s maritime industry.
