Business and Finance

A quarrel over access to a water well has spiraled into deadly interethnic violence in eastern Chad, leaving at least 42 people dead and 10 others injured. Such clashes, often rooted in farmer-herder tensions over scarce resources, are a recurring challenge across the country. Authorities said a delegation led by Deputy Prime Minister Limane Mahamat was dispatched to the area and that the situation is now under control. Conflicts over water and grazing land have become more frequent in Chad, with extreme weather…

Airlines are sounding the alarm over a relentless shortage of jet fuel that is leading to significant travel disruptions, with an alarming number of delays and cancellations. The situation has escalated in recent days, leaving hundreds of travelers stranded and prompting many to reconsider their upcoming journeys. Key travel hubs, particularly in Lagos and Abuja, are experiencing severe impacts, as passengers face extended wait times on well-traveled domestic routes. In a notable operational adjustment, Air Peace has…

Africa's wealthiest individual, Aliko Dangote, who heads the Dangote Group, has announced ambitious plans to collaborate with Kenya and Uganda on a significant oil refinery project in Tanzania. This proposed facility is inspired by his landmark operation in Nigeria, which has a capacity of 650,000 barrels per day. During a recent conference that featured key figures like Kenya's President William Ruto and Uganda's President Yoweri Museveni, Dangote expressed optimism about the project. He emphasized that its success hinges…

In a significant move aimed at boosting infrastructure, President Bola Tinubu has formally requested the Senate's approval to secure a $516.3 million loan from Deutsche Bank AG. This lending initiative is backed by insurance from the Islamic Corporation for the Insurance of Investment and Export Credit, part of the Islamic Development Bank. Tinubu emphasized that the funding would be directed towards the construction of the Sokoto-Badagry Superhighway, a centerpiece project within his Renewed Hope Agenda. The ambitious…

Fuel shortages have pushed the country to a perilous brink, the government warned, saying the nation is now "dangerously exposed" as the crisis hobbles transportation, commerce, and daily routines. In a statement, government spokesperson Shadric Namalomba linked the worsening situation to the conflict in the Middle East and a severe shortage of foreign exchange. Namalomba said international fuel suppliers are demanding cash upfront, a shift that has further tightened the country’s ability to bring in fuel. He added that…

The Nigerian Federal Ministry of Finance is refuting claims made by the World Bank regarding alleged undisclosed expenditures and the misallocation of federal revenue. Minister of State for Finance, Taiwo Oyedele, has characterized these allegations as a misunderstanding of the situation. He emphasized that media narratives indicating a substantial portion of federal earnings is being improperly channeled are not only incorrect but also misleading. This clarification comes as the ministry addresses interpretations of the…

At least 18 people were killed when a commuter omnibus erupted in flames and exploded on the Bulawayo-Beitbridge Highway, authorities confirmed. The Zimbabwe Republic Police (ZRP) said the deadly incident occurred between Chipangali and the Gwanda tollgate. Officials added that more information will be released as investigations progress. The cause of the blaze and subsequent explosion remains undetermined, and it is still unclear how many passengers were on board. The Bulawayo-Beitbridge Road, a key artery linking…

A shocking new survey highlights a distressing trend in Liberia: a staggering 90% of women reportedly use antibiotics monthly to address their menstrual issues. This revelation has alarmed health experts, who label the findings "frightening" and express deep concern about the potential for escalating antibiotic resistance within the nation. Antibiotic misuse has long been a significant issue plaguing Liberia's healthcare system. Health officials are increasingly worried that the very medications essential for treating…

The African Development Bank Group is set to convene its 2026 Annual Meetings in Brazzaville, Republic of Congo, from May 25 to 29. The event will focus on the theme: "Mobilising Africa's Development Financing at Scale in a Fragmented World." For further details, visit the AfDB section on AllAfrica.

President Netumbo Nandi-Ndaitwah used her State of the Nation Address to unveil an ambitious plan to jump-start growth, anchoring it on targeted investment, energy stability, and a renewed push in agriculture. She outlined headline domestic commitments, notably the introduction of fully subsidised tertiary education for qualifying students, supported by broader access to financial aid. Calling the moment “decisive,” the president pressed Parliament to fast-track the petroleum amendment bill, cautioning against the…