In the small, oil-rich community of Egbema, located in Ogba Egbema Ndoni Local Government Area (ONELGA) of Rivers State, the air is thick with an oppressive heat that clings to the residents like a shadow. Deborah Ibifiri, a 24-year-old single mother of two, rises each day to face this grueling reality, a stark reminder of the man-made crisis plaguing her home. The relentless heat is not a natural phenomenon but a consequence of industrial fires from gas flaring. This practice has turned the skies above Egbema and surrounding communities into a perpetual haze of harmful gases. Deborah’s modest house, just…
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Illegal mining in Kwara State is a growing concern, with significant implications for the local economy and environment. Despite government crackdowns and arrests, these operations continue, driven by high demand for green minerals like lithium, DARE AKOGUN reports. Illegally mined Lithium Ore in Bani …
In the sky above Ebute-Metta’s Jebba Street, the stars have stolen the show, and the moon is in the spotlight. The community’s transformer, which supplies electricity to the community, has remained damaged for six months. The moon’s light is never enough, and the residents must rely on an alternative electricity source. From almost every corner of the street, the sounds of generators can be heard. Michael Kolawole, a resident of the community, comes out of his home to put on his generator. The noise from his generator adds to the noise from those of his neighbours. He detests the noise,…
As negotiations over the climate finance goal dragged on into the night at COP29 in Baku, civil society organisations (CSOs) representing millions globally issued strongly-worded letters to both the G77+China and developed countries, accusing the latter of obstructing progress. The letter to the G77+China was delivered to Uganda’s Ambassador and Permanent Representative to the United Nations, Adonia Ayebare, at the conference venue. Signed by 335 organisations, the letter commended the bloc’s stance against the draft text, describing it as unacceptable. “The collective civil society constituencies and members present at COP29, supported by broader global civil society, wholeheartedly support your rejection…
ArcelorMittal, the world’s largest steel producer led by Indian billionaire Lakshmi Mittal, has announced the imminent closure of its long-steel plants in Vereeniging and Newcastle, South Africa. This decision follows a year of inconclusive negotiations with the South African government and poses a significant threat to President Cyril Ramaphosa’s $257 billion infrastructure development agenda. Set to take effect at the end of January, the shutdown jeopardizes critical national projects requiring steel—such as power transmission towers, railways, and roadways—that are integral to South Africa’s economic recovery strategy. Lakshmi Mittal, whose family holds a 39.87% stake in ArcelorMittal, faces increasing operational and…
Klasha, a leading global cross-border payment company, is thrilled to announce the launch of its latest product, Pay to China designed to send money to China from Africa instantly. With the Pay to China feature, African businesses and individuals can make instant CNY payments directly to Chinese bank accounts, Alipay wallets, WeChat wallets, and bank cards using their local African currencies. This service is accessible via Klasha’s dashboard and API, ensuring a seamless and flexible user experience for businesses. Speaking on the launch, Klasha’s CEO Jess Anuna shared: “China is Africa’s largest trading partner, yet businesses have historically faced complex…
By James Ogunjimi The telecommunications sector in Nigeria is poised for significant upgrades following the announcement by the Minister of Communications and Digital Economy, Dr. Bosun Tijani, that a tariff increase for telecom services will soon be approved. While the exact rate of the increase has not been finalized, speculation suggests it will range between 40% and 50%. This adjustment is expected to usher in improved service quality, including faster internet speeds, fewer dropped calls, and wider network coverage. Telecom operators will finally have the resources to upgrade their infrastructure and meet the standards outlined in the Quality of Service…
The year 2025 is shaping up to be a year of hope or hubris for the Naira. Optimists believe that after two years of wild swings, Nigeria’s currency might finally settle into something resembling stability. The reasons are compelling enough: refineries coming online, reduced petrol imports, and an economy hungry to diversify beyond oil. But let’s not pop the champagne just yet. A cocktail of domestic policy missteps and global economic shifts could send the Naira stumbling once more. Here’s what could go wrong. If there’s one thing oil markets love, it’s drama—and a second Trump presidency could bring plenty…
“I hope your daughter is safe” “We thank God. We are all fine. But which of my daughters do you have in mind?” “The one in California. When I read about the wildfires that destroyed over six areas in Southern California, it was you and your daughter that came to my mind. I called you but in your usual fashion, you don’t pick your calls and you are very bad at returning calls.” “Don’t mind me. Sometimes, I just get too busy for myself. But to God be the glory. The fires didn’t reach her own side of California. But…
A recent report by Bayo Adedipe and Associates suggests the Naira will settle at N1,574/$1 in 2025. For context, the exchange rate closed in 2024 at N1,553/$1, marking only a slight shift. Nairalytics, the research arm of Nairametrics, projects the exchange rate will hover between +5% (appreciation) and -10% (depreciation), a range that qualifies as relatively stable, especially when compared to the 40% nosedive recorded in 2024. Most other projections echo this optimism, predicting a stable exchange rate in 2025. But what underpins this newfound confidence in the Naira? Let’s unpack the reasons. Firstly, some of the storm clouds that…
