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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…

Mogadishu (AX) — Since mid-April, heavy rains and flash floods have swept through parts of Somalia, impacting over 45,000 individuals and tragically claiming at least four lives. This unsettling news comes from a recent situation report released by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA). As we delve into the details of this situation, it’s essential to reflect on the resilience of Somalia's communities, even in the face of such overwhelming adversity. The report, issued on April 30,…

In a thought-provoking interview, Mr. Nkaw shed light on the often-overlooked consequences of gas flaring—a practice that remains alarmingly prevalent in our energy sector. He meticulously detailed how the unresolved issue of excess gas processing leads to not just financial waste, but also significant environmental and health repercussions. Flaring, a method of burning off excess natural gas, contributes to a myriad of challenges that extend beyond the immediate economic implications. “We have data that shows…

The Human Cost of Crisis in Somalia Tragic news continues to unfold from Somalia, as data from the federal government and the United Nations paints a grim picture of an impending humanitarian catastrophe. Heightened levels of drought, persistent conflict, and skyrocketing food prices threaten to plunge a staggering 4.4 million individuals into hunger this year. This number represents nearly 23% of Somalia's population—a staggering statistic that demands urgent attention. The Heart-Wrenching Reality In…

In a shocking turn of events, Namibia's Agriculture Minister, Mac-Albert Hengari, has been dismissed from his position amid serious accusations. Five years after the alleged rape of a 16-year-old girl, he was arrested following attempts to bribe the now 21-year-old survivor into withdrawing her case. Hengari’s appearance in court saw him denied bail, facing a daunting array of charges: kidnapping, rape, and assault. The echoes of this scandal resonate deeply within the fabric of Namibian society, where gender-based…

As of March 2025, the East African Community (EAC) Secretariat has disclosed a troubling figure: member states collectively owe a staggering $58 million in contributions. This financial shortfall has sparked significant challenges for the bloc, leaving many to ponder the future of regional cooperation in East Africa. The pressing financial situation was the focal point of a recent meeting held by the EAC Council of Ministers in Arusha, Tanzania. There, leaders gathered to confront the crisis laid bare by a…

Summit Highlights: A Call for Urgent Action in Somalia At the recent Extraordinary Summit of Troop Contributing Countries held in Entebbe, Uganda, regional leaders convened with a pressing sense of urgency. They voiced their deep concerns regarding the chronic underfunding of the African Union Support and Stabilisation Mission (AUSSOM). The conversation at this significant event pivoted around the implementation of United Nations Security Council Resolution 2719, passed in December 2023, which authorizes the use of…

Understanding Russia's Evolving Military Strategies In the realm of military strategy, insight often emerges from unexpected places. Federico Borsari, a resident fellow at the Center for European Policy Analysis, recently communicated to Business Insider a compelling observation: "The Russians are adapting, and this is definitely something that NATO is noticing." This candid acknowledgment sets the stage for a deeper dive into Russia's ongoing military evolution, particularly concerning artillery production and battlefield…

In an intriguing development in the realm of international trade, the Pakistan Business Forum (PBF) has cast a spotlight on a significant economic challenge unfolding between India and Pakistan. According to PBF officials, India is poised to face trade losses totaling an estimated $1.14 billion. The root of this financial setback lies in Pakistan’s decision to restrict the use of its territory for Indian trade activities. According to data shared by the Associated Press of Pakistan (APP), Indian trade…

Pressure Mounts on AU Commission to Fund Somalia Peace Mission KAMPALA, Uganda – In a world increasingly driven by individual national interests, the subtle art of collaboration stands as a beacon. Recently, this very spirit of cooperation was spotlighted in Uganda, where nations contributing troops to peace efforts in Somalia unequivocally voiced their expectations. The African Union Commission, together with its partners, faces mounting pressure to rally resources for the mission. The tranquil setting of the State House…