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Picture this: A colossal refinery standing tall in Nigeria, not just a symbol of industrial progress but an emblem of a nation's ambition to be a giant in the petrochemical industry. The Dangote Refinery, brainchild of Africa's renowned business magnate Aliko Dangote, is making strategic and daring moves in the global oil market. Their latest venture? A million-barrel crude oil shipment expected from Algeria in mid-March, marking an essential pivot in their crude sourcing philosophy. In the…

Edited By Ali Musa Axadle Times International–Monitoring The recent decisions spearheaded by influential adviser Elon Musk have become the subject of heated discourse. On one side of the spectrum, there are those who endorse Musk's aggressive cost-cutting strategy; on the other, voices are raising concerns about the severe implications these measures might have, particularly with respect to critical public health initiatives. Consider this: Musk, without being formally…

Have you ever pondered how urban safety can significantly influence our perception of a city? A riveting new list places San Salvador, El Salvador, right at the forefront of the world's most dangerous cities, shining an intense spotlight on Latin America's perpetual urban security challenges. In contrast, only Cape Town and Johannesburg, hailing from Africa, made it into the top 10. But what does this tell us about the broader issues facing these regions? The struggles and triumphs of these cities…

Bridging Stability and Innovation In the dynamic intersection where traditional finance meets the cutting-edge realm of blockchain technology, there lies a pivotal initiative: the integration of stability and innovation. Navigating this modern landscape is not just about technology; it’s also about compliance, responsibility, and opportunity. Enter eNsc, a pioneering Naira-pegged stablecoin that marries the time-tested trust of conventional finance with the agile efficiency of blockchain, operating within Nigeria's…

It was an ordinary day on the idyllic islands of Mauritius and La Réunion until the sky began to darken, and Cyclone Garance made its menacing presence known. The islands brace themselves as the Mauritius Meteorological Service (MMS) announces a Class 3 cyclone warning. Residents and tourists alike are feeling the tension as they prepare for the cyclone’s approach, expected either Thursday evening or by Friday morning. When a storm brings with it gale-force winds, torrential rain, and tumultuous…

Diplomatic circles often revolve around unspoken agreements, nuanced gestures, and the silent art of strategy. Yet, once in a while, politics thrusts someone into the limelight not for an anticipated accomplishment but a startling resignation. Consider Dana M. Brown, an accomplished diplomat who, while serving as the acting ambassador from the United States to South Africa, recently stepped down. This was confirmed through an official communiqué from the U.S. government to South Africa’s authorities.…

Changing Dynamics in Nigeria's Oil Sector: A New Chapter Initiated by Dangote Refinery In a move that underscores his prominence in the African economic landscape, Aliko Dangote has once again adjusted the ex-depot price of premium motor spirit, commonly known as petrol. Earlier this week, the Dangote refinery implemented a second noteworthy price reduction for February, now lowering costs from N890 to N825 per litre. Just a few weeks back, on February 1, we witnessed a similar trend when prices dropped by N60 per…

Unraveling the Thread: The Economic Impact of Clothing Prices The Consumer Price Index (CPI) is an economic concept many of us hear about, but few truly grasp. It consists of various elements, with food, clothing, and housing being the most significant. However, there are other interesting items on this list—recreation, health, and education, to name a few. My friend once said, "It’s like trying to balance plates on a stick—you’ve got to keep an eye on each one." Have you ever noticed…

In the vast, ever-evolving landscape of African economies, a quiet resilience often dominates the narrative. While major players like South Africa and Nigeria have been grappling with economic challenges and currency depreciation, Ghana, with its fortitude, presents a compelling case study in banking resilience. As the world turns its gaze towards West Africa, Ghanaian banks stand firm, holding strong Tier 1 capital positions that inspire confidence and stability. Performance of…

In a pointed discussion during the recent G20 gathering in South Africa, a coalition of former African heads of state convened to spotlight an urgent crisis: the escalating debt burden on the continent. United under the African Leaders' Debt Initiative, these seasoned leaders articulated a clarion call for "intensified international cooperation." But what does this cooperation truly entail? It begs the question: can the global financial structure be adjusted to genuinely uplift developing nations? The atmosphere during this…