Business
Microsoft Translator adds Hausa, Igbo, Yoruba, 10 other African languages
Microsoft has added three Nigerian languages (Hausa, Igbo and Yoruba) to its Microsoft Azure Cognitive Services Translator.
They are part of 10 new African languages just launched on the Microsoft Translator.
This enables text and documents to be translated to and from these languages across the entire Microsoft ecosystem of products and services.
This is coming after last year’s release of Somali and Zulu, according to a statement.
It lists the latest African languages to be supported as chiShona, Hausa, Igbo, Kinyarwanda, Lingala, Luganda, Nyanja, Rundi, Sesotho, Sesotho sa Leboa, Setswana, Xhosa and Yoruba.
This brings the total number of supported languages to 124 and adds language support for millions of people in Africa and worldwide.
Ola Williams, Country Manager, Microsoft Nigeria, says, “It is so powerful to be able to access knowledge and learn in one’s own language. The addition of Hausa, Igbo and Yoruba builds on the ongoing work Microsoft is undertaking in Nigeria to empower our communities with access to content in indigenous languages. Through this release we continue to build meaningful cognitive products and services that improve accessibility and break down the language barrier between people and cultures across Nigeria and Africa.”
It also notes that integrations across Microsoft’s ecosystem include Microsoft 365 for translating text and documents, the Microsoft Edge browser and Bing search engine for translating whole webpages, SwiftKey for translating messages, LinkedIn for translating user-submitted content, and the Translator app for having multilingual conversations on the move, among others.
It also says in the statement that using Translator, people and organisations could add African languages’ text translation to apps, websites, workflows, and tools; or use Translator’s Document Translation feature to translate entire documents, or volumes of documents, in a variety of different file formats preserving their original formatting.
They can also use Translator with Cognitive Services such as Speech or Computer Vision to add additional capabilities such as speech-to-text and image translation into their apps. Educators can create a more inclusive classroom for both students and parents with live captioning and cross-language understanding.
Microsoft has continuously added languages and dialects to its Translator service while ensuring the translation quality of the supported languages by using the latest neural machine translation (NMT) techniques.
The company, through its Microsoft Research unit, first developed machine translation systems more than a decade ago – and has consistently built on and improved these systems and techniques, adopting NMT technology as Artificial Intelligence (AI) evolved and migrating all machine translation systems to neural models to improve translation fluency and accuracy.
According to the firm, working with partners in language communities who can help gather data for specific languages and who have access to human-translated texts also helps to overcome the challenge of obtaining enough bilingual data to train and produce a machine translation model. This network of partners help collect bilingual data, consult with community members and evaluate the quality of the resulting machine translation models.
It notes that these ever-improving capabilities make it possible for businesses to expand their global reach, enabling them to communicate with customers and partners across languages and localise content and apps quickly, reliably, and affordably.
“Language should never be a barrier to using technology. With the addition of new African languages, more people and businesses will be enabled to connect across languages seamlessly,” says Williams.
It also says there are plans to add more of the continent’s most widely spoken languages as part of Microsoft’s mission to build meaningful cognitive products and services that improve accessibility and local engagement.
Business
Nigeria’s foreign reserves records marginal increase, now $40.88bn – Cardoso
Nigeria’s foreign reserves records marginal increase, now $40.88bn – Cardoso
Nigeria’s foreign reserves rose to $40.88 billion as of November 21, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said.
Cardoso disclosed this on Tuesday at a press conference after the Monetary Policy Committee’s 298th meeting in Abuja.
He said the external reserves grew from $40.06 billion at the end of October to $40.88 billion in November.
The amount represents an increase of $82 million or 2.05 per cent in 21 days.
“The external reserves rose marginally to 40.88 billion as of 21 November 2024, from 40.06 billion at the end of October 2024, available to finance 17 months of imports,” he said.
However, from the apex bank’s website, the increase in Nigeria’s foreign reserves showed $40.27 billion on November 22.
Cardoso also said, “The process of getting us where we are in terms of reserves has been a long one”.
“It is a clear indication that the policies we have put in place are certainly yielding fruits,” he added.
“However, and it’s very important to make a distinction here and to reiterate the fact that reserves are there for a multiplicity of different purposes, not least of which is to create buffers in the event of unanticipated shocks.
“So they are not there to simply whittle away. They are there to be used to more or less defend yourself where that becomes necessary
“And when we talk about shocks that are not anticipated, I think we can see how the global economies are.”
Cardoso also said the bank would continue to intensify efforts to stabilise the currency and prices.
The CBN governor said, “The currency has been stable compared to what it was in June”.
But he said for the value of the country’s currency to be stable, there must be increased exports and diversification of the economy.
Cardoso said diaspora remittance had increased due to policies put in place.
He commended those in the diaspora for helping the country accomplish over $600 million in remittances.
Business
Naira rises to N1,755/$ in parallel market
Naira rises to N1,755/$ in parallel market
The Naira yesterday appreciated to N1,755 per dollar in the parallel market from N1,770 per dollar on Monday.
Similarly, the Naira appreciated to N1,659.44 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,659.44 per dollar from N1,675.62 per dollar on Monday, indicating N16.18 appreciation for the naira. The volume of dollars traded (turnover) increased by 219.5 percent to $425.98 million from $108.79 million traded on Monday.
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Consequently, the margin between the parallel market and NAFEM rate narrowed to N95.56 per dollar from N117.38 per dollar on Monday.
Naira rises to N1,755/$ in parallel market
Business
PH refinery to blend 1.4-million litre petrol daily – NNPC
PH refinery to blend 1.4-million litre petrol daily – NNPC
Rehabilitated old Port Harcourt refinery is currently operating at 70 per cent of its installed capacity, the Nigerian National Petroleum Company Limited has said.
The Port Harcourt Refining Company (PHRC) operates two refineries: the old refinery with a capacity of 60,000 barrels per stream day (bpsd) and a new refinery with an installed capacity of 150,000 bpsd.
The NNPCL in a statement on Tuesday, said it planned to increase the operation to 90 per cent of the refinery’s capacity.
“The Board and Management of the Nigerian National Petroleum Company Limited (NNPC Ltd) express heartfelt appreciation to Nigerians for their support and excitement over the safe and successful restart of the 60,000 barrels-per-day Old Port Harcourt Refinery,” the statement reads.
“This achievement marks a significant step forward after years of operational challenges and underperformance.
“We are, however, aware of unfounded claims by certain individuals suggesting that the refinery is not producing products. For clarity, the Old Port Harcourt Refinery is currently operating at 70% of its installed capacity, with plans to ramp up to 90%.”
According to NNPC, the refinery has commenced production of daily outputs of straight-run petrol (naphtha), which is blended into 1.4 million litres of petrol.
The national oil company said the refinery has also started producing 900,000 litres of kerosene per day and 1.5 million litres per day of diesel.
The NNPC said 2.1 million litres daily volume of low-pour fuel oil (LPFO) would also be produced at the refinery, adding that additional volumes of liquefied petroleum gas (LPG) will be refined at the plant.
“It is worth noting that the refinery incorporates crack C5, a blending component from our sister company, Indorama Petrochemicals (formerly Eleme Petrochemicals), to produce gasoline that meets required specifications,” NNPC said.
“Blending is a standard practice in refineries globally, as no single unit can produce gasoline that fully complies with any country’s standards without such processes.”
Additionally, the NNPC said it has made substantial progress on the new Port Harcourt refinery, “which will begin operations soon without prior announcements”.
“We urge Nigerians to focus on the remarkable achievements being realized under the able and progressive leadership of President Bola Tinubu and to support efforts aimed at delivering more dividends to the nation,” the energy firm said.
According to the statement, malicious attacks on “clear progress” only undermine the “significant strides made by NNPC Ltd and the country”.
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