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
Naira exchanges N1,650/$ in parallel market
Naira exchanges N1,650/$ in parallel market
Yesterday, the Naira appreciated N1,650 per dollar in the parallel market, compared to N1,655 on Monday.
Similarly, the Naira appreciated to N1,535 per dollar in the official foreign exchange market.
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the Nigerian Foreign Exchange Market (NFEM) fell to N1,535 per dollar from N1,537 per dollar on Monday, indicating N2 appreciation for the naira.
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Consequently, the margin between the parallel market and NFEM rate narrowed to N115 per dollar from N118 per dollar on Monday.
Naira exchanges N1,650/$ in parallel market
Business
Exchange rate ends 2024 at N1,535/$1, marking a 40.9% depreciation
Exchange rate ends 2024 at N1,535/$1, marking a 40.9% depreciation
The exchange rate between the naira and the dollar ended the year at N1,535/$1 representing a 40.9% depreciation for 2024.
The official exchange rate between the naira and dollar closed in 2023 at N907.11/$1 thus depreciating by 40.9% for the year which compares to a 49.1% devaluation at the end of 2023.
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Nigeria introduced several foreign exchange policies in 2024 as the central bank expanded on market-friendly forex policies to attract foreign investors.
Meanwhile, on the parallel market where the exchange rate is sold unofficially, the naira exchanged for N1,660 to the dollar when compared to N1,215/$ according to Nairametrics tracking records. This represents a 26.8% depreciation.
Exchange rate ends 2024 at N1,535/$1, marking a 40.9% depreciation
Business
Warri refinery: Marketers hopeful of further petrol price drop
Warri refinery: Marketers hopeful of further petrol price drop
There was excitement on Monday as the Warri Refining and Petrochemical Company (WRPC) commenced partial production.
This is coming after nearly a decade of dormancy as the 125,000 barrels per day refinery was confirmed to be working at 60 per cent capacity, according to the Nigerian National Petroleum Company Limited (NNPCL).
The refinery, inactive since 2015 due to prolonged repairs, reportedly began refining activities last Saturday at its Area 1 plant, where crude oil was successfully pumped into the system.
This was coming about a month after the commencement of operations at the 60,000-barrel-per-day-old Port Harcourt Refinery.
The NNPCL Group Chief Executive Officer, Mele Kyari, announced the resumption of operation at the Warri Refinery during a tour of the facility on Monday.
Kyari was seen in a video posted by Channels TV addressing a tour team, which included the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed.
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Earlier, Kyari explained that the inspection aimed to show Nigerians the level of work completed so far.
He said though the repairs on the facility were not 100 per cent complete, operations had commenced.
He said, “We are taking you through our plant. This plant is running. Although it is not 100 per cent complete, we are still in the process. Many people think these things are not real. They think real things are not possible in this country. We want you to see that this is real.”
With the addition of Warri Refinery, Nigeria’s refining capacity has further increased with marketers anticipating a further reduction in price of premium motor spirit (PMS).
The 650,000-barrel Dangote Refinery has commenced production in addition to the Port Harcourt Refinery with a total capacity of 210,000 barrels per day (bpd) comprising 60,000 bpd for the old plant and 150,000 bpd for the new plant.
It’s good for business, prices may reduce – Marketers
Major Energy Marketers’ Association of Nigeria (MEMAN) and the Independent Marketers Association of Nigeria (IPMAN) welcomed the revival of the Warri refinery, saying it would deepen competition, diversify supply and ultimately resort to price reduction.
Executive Secretary of MEMAN, Clem Isong in a chat with our correspondent stated that the Warri Refinery is the shortest route to the North, describing its revival as good news.
“The market becomes more competitive and we are diversifying supply,” he said.
On whether it would lead to price reduction, he stated, “There are many factors that affect price, competition is always good and you can always get your product at the best price.”
National Public Relations Officer of IPMAN, Alhaji Olanrewaju Okanlawon in a chat with our correspondent said, “If there is excess supply, it will keep bringing down the price. We now run a free market and it is about demand and supply. It will continue bringing down the price. It will decongest Lagos.”
Energy expert, Dr. Ayodele Oni said the resumption of Warri Refinery would boost the local refining capacity in addition to enabling the country to sell to other neighbouring countries.
“We can refine more and even have some to sell. We now stop being hewers of wood and drawers of water. We add value to what we produce and can make/ do more with our base resources. This is very pleasant news,” he said.
Warri refinery: Marketers hopeful of further petrol price drop
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