Author: Ogochukwu Ndubuisi

Uber to Exit Nigeria After 12 Years of Operation Uber has announced it will exit Nigeria after 12 years, ending its operations in Africa’s most populous country effective September 2, 2026, and exposing the brutal economics facing ride-hailing platforms. The company disclosed the decision in a notice to customers on Wednesday, saying it took the tough decision to wind down its Nigerian business after a thorough review of operations. “After a thorough review of our business, we have made the tough decision to wind down our operations in Nigeria, effective 2 September 2026,” Uber said in the message to users.…

Global Warming Set to Breach 1.5°C Threshold, UNEP Warns The UN Environment Programme (UNEP) has warned that global temperatures are likely to cross the critical 1.5°C warming threshold within the next few years, exposing the world to intensifying climate risks. UNEP, in a new report titled “Limiting Overshoot”, said the world could still return to below 1.5°C, but only if countries rapidly cut greenhouse gas emissions, strengthen adaptation and achieve net-negative emissions. In a report released on Wednesday, UNEP said an “overshoot, peak and decline” pathway is the best option to limit both the extent and duration of temperatures exceeding…

Ethiopia Increases Electricity Exports by 25% Ethiopia earned US$475.7 million from electricity exports during the financial year. This is 25 per cent more than in the same period last year. This was reported by TV BRICS, a NAN partner, citing data from Ethiopia’s state-owned electricity company. The growth is strengthening Ethiopia’s position as a regional energy hub and generating increased revenue from electricity exports to neighbouring countries, the report notes. During the reporting period, the company increased its generating capacity to more than 9,000 megawatts, representing a 23 per cent increase. At the same time, hydropower plants accounted for 97…

Pakistan Remains Hopeful for U.S.-Iran Dialogue Amid Escalating Tensions Pakistan remains hopeful for a diplomatic resolution despite recent escalations between the United States and Iran. Tahir Andrabi, Pakistani Foreign Ministry spokesperson disclosed this on Wednesday. Speaking at a weekly press briefing, Andrabi said Pakistan would continue its efforts to promote dialogue and diplomacy between the two sides. He also stated that “Pakistan remains hopeful and will continue to strive for dialogue and diplomacy.” The official added that Pakistan would continue its efforts on the crucial issue of the Strait of Hormuz and still hoped that both sides would return to…

Guinea-Bissau Approves New Constitution That Expands Presidential Powers Guinea-Bissau has approved a new ‌constitution in a referendum, with provisional results of expanding presidential powers and reshaped electoral rules ahead of a presidential election scheduled for December. The West African country, led by military officers who seized power in ​a coup in November 2025, voted on Sunday on reforms allowing the president to appoint and dismiss the ​prime minister and cabinet. The president can also create or abolish ministries and dissolve parliament in ⁠the event of a grave political crisis. Under the current constitution, Guinea-Bissau’s legislature names a prime ​minister who…

The Central Bank of Nigeria (CBN) is scheduled to hold its first Treasury bills auction for September on Wednesday, with N700 billion on offer.

Erin Piacenti, Bank of America VP, Killed in Times Square Attack A Bank of America vice president has been identified as the woman fatally stabbed in a random attack in Times Square on Monday afternoon. The victim, Erin Piacenti, 32, from Chester, New Jersey, was Vice President of Business Selection and Conflicts in Bank of America’s global corporate and investment banking division, according to her LinkedIn profile and reports first published by Bloomberg. She died from abdominal stab wounds sustained in the attack. The incident occurred around 4:20 p.m. near Seventh Avenue and West 42nd Street, one of New York’s…

Former British PM Starmer Steps Down as MP Former British Prime Minister Keir Starmer on Tuesday announced his decision to step down as Member of Parliament (MP) for Holborn and St Pancras. Starmer, in a statement, said: “Now is the right time to step down as MP for Holborn and St Pancras and hand the baton over to a successor.” He said he would now focus on “international affairs including defence, security, trade and technology in a fast-changing world.” Starmer’s resignation will trigger a by-election in the London constituency. He said that whoever emerged as the Labour Party’s candidate for…

Qatar Says Diplomatic Efforts Intensify to End Strait of Hormuz Crisis Qatar on Tuesday said diplomatic efforts by it and its regional partners were intensifying to secure a swift resolution to the crisis in the Strait of Hormuz. The country warned that failure to resolve the situation could result in further escalation. Foreign Ministry spokesperson Majed Al Ansari said consultations were continuing with Qatar’s mediation partners, including Oman and Pakistan, following a series of diplomatic visits and discussions in recent days. He said there were no “tangible result” to announce yet, adding that outcomes of the ongoing discussions and visits…

GCR Ratings has revised the national scale long- and short-term issuer ratings of Geregu