Business
141 new moneybags join Forbes billionaires club, Nigerians now four
141 new moneybags join Forbes billionaires club, Nigerians now four
Forbes on Tuesday said more billionaires had joined the moneybags club in 2024 despite inflation and political unrest.
Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola are the only Nigerians that made the Forbes 2024 billionaires list.
Forbes said there are now 2,781 billionaires globally — rising by 141 compared to 2023 data and 26 more than the record set in 2021.
“They’re richer than ever, worth $14.2 trillion in the aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021,” Forbes said.
“Two-thirds of the list’s members are worth more than a year ago; only one-fourth are poorer.
“Much of the gains come from the top 20, who added a combined $700 billion in wealth since 2023, and from the U.S., which now boasts a record 813 billionaires worth a combined $5.7 trillion.
“China remains second, with 473 (including Hong Kong) worth $1.7 trillion, despite weak consumer spending and a real estate bust that helped wipe out $200 billion in wealth and knocked 89 billionaires from the ranks.
“India, which has 200 billionaires (also a record), ranks third. To calculate net worths, we used stock prices and exchange rates from March 8, 2024.”
The report revealed Dangote, chairman of Dangote Cement, maintained his top position as the richest man in Africa. His fortune rose to $13.4 billion — earning him the 144th position.
With a $6.7 billion net worth, Adenuga, chairman of Globacom, a telecommunication company in Nigeria, was ranked at 409th spot.
Rabiu, chairman of BUA Group, whose net worth was estimated at $5.2 billion, was placed at the 581st position.
Otedola, chairman of Geregu Power, was ranked 2152 spot with a net worth of $1.4 billion.
![]()
Auto
Jetour T2 Earns Top Global Safety Rating, Intensifies SUV Battle in Nigeria
Jetour T2 Earns Top Global Safety Rating, Intensifies SUV Battle in Nigeria
Jetour has thrown down the gauntlet in Nigeria’s increasingly competitive SUV market after its rugged T2 model secured the coveted NCAP 5-Star safety rating — a global benchmark regarded as the highest standard in crash protection and accident avoidance technology.
The achievement is expected to boost the brand’s appeal among Nigerian motorists seeking tough, family-oriented SUVs that combine advanced safety, luxury and off-road capability for the country’s challenging road conditions.
Jetour Nigeria discloses this in a statement, stressing that it is backing the T2 with a growing nationwide dealership and after-sales support network, including trained technicians, genuine spare parts, structured maintenance plans and warranty coverage aimed at boosting long-term ownership confidence.
Positioned as a bold “super SUV,” the Jetour T2 was designed specifically with Nigerian driving conditions in mind, according to the automaker.
In a country where motorists often encounter congested urban roads, long-distance highways and rough rural terrain within the same trip, the T2 is engineered to adapt seamlessly to changing environments.
Safety is seen as one of the vehicle’s strongest selling points. The SUV comes equipped with a comprehensive airbag system, SRS airbags, parking sensors, rear camera and surround-view monitor.
It also features advanced driver-assistance technologies such as Anti-lock Braking System, Emergency Braking Assist and Auto-Brake Assist, which help detect potential collisions and automatically apply braking when necessary.
Beyond safety, the T2 projects a muscular and commanding presence aimed at drivers looking for both ruggedness and refinement.
Jetour says the SUV was built to offer confidence for daily commuting while remaining capable enough for off-road adventures.
Inside, the cabin combines premium comfort with practical space. Measuring 4,785mm in length, 2,006mm in width and 1,880mm in height, the SUV offers generous legroom and headroom for occupants, making it suitable for long-distance travel and family use.
Under the hood, the T2 is powered by a 2.0-litre turbocharged engine delivering 187kW (254hp) and 390Nm of torque.
Paired with a 7-speed dual-clutch transmission, the setup provides strong acceleration, smooth overtaking capability and enough power to tackle steep inclines and demanding terrains.
A major highlight of the SUV is its advanced multi-terrain capability. The T2 features a BorgWarner sixth-generation four-wheel-drive system and XWD automatic intelligent drivetrain.
Multiple drive modes — including Sport, Eco, Normal, Mud, Rock and X Smart — allow the vehicle to adjust to varying road conditions ranging from muddy rural tracks to sandy and rocky surfaces.
Technology and convenience also feature prominently in the package. A 15.6-inch LCD touchscreen serves as the hub for infotainment, vehicle diagnostics and off-road information.
Apple CarPlay, Android Auto, Bluetooth connectivity, intelligent voice commands, cruise control and crawl control are integrated to enhance the driving experience.
Additional features such as remote start, push-button ignition, lane departure warning and blind-spot detection further improve convenience and safety for drivers.
With the T2, Jetour is seeking to position itself as a brand that understands the realities of Nigerian roads and the increasing appetite among motorists for SUVs that combine adventure, luxury and safety without compromise.
Jetour Nigeria specifically lists its accredited dealers spread across the country as Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R. T. Briscoe Motors and Mandilas Autos.
![]()
Business
Google Unveils Gemini Omni AI Video Creation Tool to Rival OpenAI, Meta
Google Unveils Gemini Omni AI Video Creation Tool to Rival OpenAI, Meta
Google has unveiled Gemini Omni, a new artificial intelligence-powered video creation tool designed to generate and edit videos using text, images and voice prompts as the company expands its Gemini AI ecosystem.
Announcing the tool on its official blog, Google said Gemini Omni was developed to support what it described as “native multimodal video generation,” allowing users to create videos directly from simple instructions while combining text, visuals and audio inputs.
“Gemini Omni is our next step toward more capable multimodal generation,” Google stated, explaining that the model was built to better understand and create content across different media formats.
According to the company, the AI system can generate short-form videos from written prompts, animate still images into moving visuals and use voice commands to shape storytelling, scenes and editing styles.
Google said the model was designed to understand context across multiple formats simultaneously, enabling more coherent, detailed and cinematic video outputs.
The company added that the platform includes AI-assisted editing tools capable of handling scene transitions, audio syncing, visual enhancements and automated video sequencing.
Industry observers say the launch represents another major step in the global race among technology firms developing advanced generative AI tools for video production.
Google explained that Gemini Omni is targeted at creators, developers, businesses and digital professionals seeking faster and more efficient video generation solutions.
The company said potential use cases include advertising, social media content, film pre-visualisation, education, gaming, customer engagement and software development.
READ ALSO:
- Gumi Denies Supporting Bandits, Threatens Legal Action
- Teacher, Church Choir Master Arrested for Murder of 16-Year-Old WAEC Candidate
- US Ends 60-Year Policy, Orders Nigerians, Others Home for Green Card Processing
The launch also forms part of Google’s broader strategy to expand the Gemini ecosystem beyond AI chat and search into content creation, productivity and enterprise software tools.
Technology analysts say the unveiling places Google in more direct competition with OpenAI, Meta, Adobe and other firms investing heavily in text-to-video AI systems.
OpenAI recently expanded access to its Sora video-generation technology, while Meta and Adobe have also accelerated development of AI-powered creative tools for businesses and content creators.
Google disclosed that Gemini Omni would initially be rolled out to selected developers, enterprise users and testing partners before broader public access becomes available.
The company also emphasised that safety measures, watermarking systems and responsible AI safeguards had been integrated into the platform to reduce misuse, misinformation and deepfake-related risks.
Experts have increasingly raised concerns about the ethical implications of AI-generated media, including manipulated political content, copyright disputes and the spread of misinformation online.
Despite those concerns, investment in generative AI technologies continues to surge globally as companies compete to dominate the rapidly expanding AI content creation market.
Google executives said Gemini Omni reflects the company’s long-term vision of building AI systems capable of seamlessly generating and understanding text, images, audio and video within a single platform.
Google Unveils Gemini Omni AI Video Creation Tool to Rival OpenAI, Meta
![]()
Business
Naira Appreciates To N1,372/$ At Official FX Market
Naira Appreciates To N1,372/$ At Official FX Market
The Nigerian naira recorded a slight appreciation against the United States dollar at the official foreign exchange market on Thursday, trading at N1,372.3079/$ at the Central Bank of Nigeria (CBN) official FX window.
Data published on the official trading platform of the Central Bank of Nigeria (CBN) showed that the naira traded at a Nigerian Foreign Exchange Market (NFEM) rate of N1,372.3079 per dollar and later closed at N1,372.7500/$.
The latest figure represents a marginal gain for the local currency compared to Wednesday’s trading rate of N1,373.3431/$, indicating that the naira appreciated by about N1 at the official market.
The development comes amid ongoing efforts by the CBN to stabilise the foreign exchange market through monetary tightening, improved dollar liquidity and sustained interventions targeted at reducing market volatility.
Financial analysts attributed the slight appreciation to improved forex supply within the official market, increased market confidence and recent reforms introduced by the apex bank to unify exchange rates and discourage speculative trading.
At the parallel market, commonly known as the black market, the naira also recorded minor movement against the dollar.
READ ALSO:
- IGP Disu: Inside the rotting walls of Zone II
- Osimhen Honors with Presidential Reception as Chelsea, Barcelona Circle for Nigerian Superstar
- Oil Mogul Allegedly Steals Lover’s Used Pad for Rituals: N10m, Cars, House Forged
According to data published by Aboki FX, the naira exchanged at N1,392/$ for buying and N1,397/$ for selling on Thursday, May 21, 2026.
Compared to the previous trading session on May 20, the black market buying rate improved by N2, while the selling rate remained unchanged.
Currency traders noted that although the gap between the official and parallel market rates still exists, the spread has narrowed slightly compared to previous months due to improving liquidity in the official market.
Economic experts said the CBN’s sustained interventions, including stricter oversight of Bureau De Change operators and policies aimed at attracting foreign portfolio inflows, are beginning to impact exchange rate stability.
The naira had faced intense pressure over the past year due to rising demand for foreign exchange, inflation, declining oil production and capital outflows.
However, analysts believe recent improvements in crude oil earnings, diaspora remittances and foreign investor confidence could help support the local currency if sustained.
Market observers also warned that inflationary pressure, import dependence and global economic uncertainties remain major risks capable of affecting long-term exchange rate stability.
Meanwhile, businesses, importers and investors continue to monitor movements in the FX market closely as the Federal Government and the CBN intensify efforts to strengthen the economy and improve confidence in the naira.
Naira Appreciates To N1,372/$ At Official FX Market
![]()
-
Education2 days ago7 Key Facts About Professor Segun Aina, Tinubu’s New JAMB Registrar
-
News2 days agoBREAKING: Tinubu appoints Prof Segun Aina as new JAMB registrar
-
Politics2 days agoBREAKING: Rivers Governorship Race Takes New Turn As Fubara Emerges Under NDC
-
News3 days agoHajj 2026: Arafat Sermon to be Translated into Yoruba, Hausa, 33 Other Languages
-
metro2 days agoVIDEO: “I’ll Kill Anyone Who Films Me on duty”: Police Officer Issues Death Threat
-
metro2 days agoVIDEO: Fact-checkers knock down claim Soyinka rode okada over N1,500 fuel
-
Politics1 day agoAdelabu: Oyo APC’s 153,640 Members Can’t Produce 578,143 Votes
-
metro3 days agoFrank Edoho Denies Estranged Wife’s Allegations, Initiates Legal Battle
