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In an eyebrow-raising turn of events, the Central Bank of Nigeria (CBN) reported a staggering loss of 13.9 trillion naira (approximately $9 billion) in 2024 due to settling overdue derivatives contracts. This significant financial setback is part of the bank's broader strategy to reduce foreign currency liabilities and bolster investor confidence in the naira, as noted in a recent Bloomberg report. Reflecting on this context, one must wonder: what does this mean for the average Nigerian citizen? Are we…

In a recent announcement, Starlink has rolled out a new pricing structure for its monthly subscriptions in Nigeria, igniting various responses across the country. This follows several unsuccessful attempts to institute a price increase between October 1 and December 28, 2024. The previous efforts had sparked criticism from the Nigerian Communications Commission (NCC), which characterized the proposed hikes as unilateral decisions that clashed with Nigeria's telecommunications pricing regulations. Nonetheless, in…

The planned rally in support of Captain Ibrahim Traoré, the junta leader of Burkina Faso, was initially meant to symbolize a bold display of Pan-African solidarity. Yet, its very intention has ignited a whirlwind of controversy and raised alarms among authorities concerned about potential unrest. Speaking with SaharaReporters, a source closely associated with activist Edokpayi revealed striking details regarding his recent arrest. “He had organized the solidarity rally, but just a day before the event,…

Your Journey to $1 Million: A Personal Reflection In early 2023, I embarked on an ambitious journey: the goal was to generate $1 million in revenue within a single calendar year. The reward for reaching this milestone? A luxury watch—specifically, a Rolex, which has long been my dream timepiece. It’s an interesting thought, isn’t it? Many people have their own dream items, things that inspire them in moments of both triumph and despair. For me, becoming a "watch guy" as an adult…

On September 30, 2022, Ibrahim Traoré seized power in a military coup that removed then-interim president Paul-Henri Sandaogo Damiba. Interestingly, Damiba himself had only ascended to leadership eight months earlier through a similar means. The recurrent theme of military takeovers raises an intriguing question: what drives such instability in Burkina Faso and its neighboring countries? Ibrahim Traoré's Rise to Power and Popularity Traoré, an artillery officer with a significant role in counterterrorism…

Adani Ports and Special Economic Zone Ltd., established by the billionaire Gautam Adani, is actively seeking port opportunities in South Africa. This initiative marks a significant relaunch of the company’s international expansion efforts, intending to bolster its presence in the dynamic global maritime sector. In a statement, Karan Adani, the managing director of Adani Ports, shared, “We are evaluating port projects in South Africa to boost our presence in Africa.” He further indicated that the company is…

The Future of Hydropower: A Bold Move by Zambia and Zimbabwe In an ambitious turn of events, Zambia and Zimbabwe are reigniting efforts to attract investment for the long-stalled $5 billion Batoka Gorge hydropower project. At the heart of this renewed interest lies a controversial proposal to source water from the Democratic Republic of Congo, a concept that has sparked myriad discussions, both for its potential and its implications. The Zambezi River Authority, a collaborative agency formed by the two…

On a vibrant Friday, the Democratic Republic of Congo (DRC) made headlines by officially granting a license to Elon Musk’s Starlink, positioning itself among the growing list of African nations embracing satellite internet. This decision marks a significant step forward for a country where only about 30% of the population currently has access to the internet, according to the International Telecommunication Union. As a nation that has faced its share of tumult, with an ongoing struggle against conflict and instability,…

Understanding Nigeria's New Visa Overstay Regulations Beginning on September 1, 2025, a significant shift in Nigeria's approach to visa overstays will take place. Foreign nationals who exceed their visa allowances will incur a daily fine of $15 for each day they remain in the country beyond their authorized stay. This new regulation is not merely a policy adjustment but an integral part of Nigeria's broader immigration reform strategy. The impetus behind these reforms is to enhance…

Poverty is not merely a statistic; it profoundly impacts the lives of millions across the African continent. It is a persistent challenge that demands our attention and action. As we explore this complex issue, it's crucial to recognize the context in which such hardship arises. Africa, rich in resources and blessed with a youthful population, is paradoxically home to some of the world’s highest poverty levels. Why, you might wonder, does such potential coexist with such distress? Countries across the continent…