Economy
600m Children Risk Water Shortage by 2040—UNICEF
By Dipo Olowookere
Some 600 million children – or 1 in 4 children worldwide – will be living in areas with extremely limited water resources by 2040, a report by the UNICEF on World Water Day has revealed.
The report, Thirsting for a Future: Water and children in a changing climate, looks at the threats to children’s lives and wellbeing caused by depleted sources of safe water and the ways climate change will intensify these risks in coming years.
“Water is elemental; without it, nothing can grow. But around the world, millions of children lack access to safe water — endangering their lives, undermining their health, and jeopardizing their futures. This crisis will only grow unless we take collective action now,” said UNICEF Executive Director Anthony Lake.
According to the report, 36 countries are currently facing extremely high levels of water stress, which occurs when demand for water far exceeds the renewable supply available. Warmer temperatures, rising sea levels, increased floods, droughts and melting ice affect the quality and availability of water as well as sanitation systems.
Population growth, increased water consumption, and higher demand for water largely due to industrialization and urbanization are draining water resources worldwide. Conflicts in many parts of the world also threaten children’s access to safe water.
All of these factors force children to use unsafe water, which exposes them to potentially deadly diseases like cholera and diarrhoea. Many children in drought-affected areas spend hours every day collecting water, missing out on a chance to go to school. Girls are especially vulnerable to attack during these times.
South Africa too, despite recent rains in many parts of the country, regularly faces water shortages. According to statistics provided by the national Department of Health and UNICEF, unsafe or lack of water supply, sanitation services and hygiene is ranked 11th on the list of risk factors causing death in South Africa. In addition, approximately 11 per cent of South African households still lack adequate sanitation and at least 26 per cent of households within formal areas are equipped with sub-standard sanitation services. Diarrhoeal diseases account for 3.4 per cent of total deaths and are the 8th largest cause of death in South Africa.
Globally, the poorest and most vulnerable children will be most impacted by an increase in water stress, the report says, as millions of them already live in areas with low access to safe water and sanitation.
The report also notes that up to 663 million people globally do not have access to adequate water sources and 946 million people practice open defecation; over 800 children under the age of five die every day from diarrhoea linked to inadequate water, sanitation and hygiene; globally, women and girls spend 200 million hours collecting water every day.
The impact of climate change on water sources is not inevitable, UNICEF says. The report concludes with a series of recommendations that can help curb the impact of climate change on the lives of children.
Such measures include for governments to plan for changes in water availability and demand in the coming years; Above all, it means prioritizing the most vulnerable children’s access to safe water above other water needs to maximize social and health outcomes; climate risks should be integrated into all water and sanitation-related policies and services, and investments should to target high-risk populations; businesses need to work with communities to prevent contamination and depletion of safe water sources; communities themselves should explore ways to diversify water sources and to increase their capacity to store water safely.
“In a changing climate, we must change the way we work to reach those who are most vulnerable. One of the most effective ways we can do that is safeguarding their access to safe water,” Lake said.
By Adedapo Adesanya
Vert, a global cross-border payments platform, has announced a new solution under Verto Business Accounts that enables US-registered businesses to move money seamlessly between the United States and Africa.
With the ability to open a US Dollar account in their business name and have access to trusted emerging market payment rails, companies can now receive, hold, and transfer funds faster, more cost-effectively, and with greater control.
US-registered businesses with operations in Africa often encounter significant banking limitations, with US banks frequently delaying or blocking transactions to or from African markets, imposing high or hidden FX costs, and offering limited access to Emerging Market payment corridors. Businesses without a US bank account registered in their own name must rely on fragmented tools or intermediaries to move funds to Africa, creating operational inefficiencies and slowing growth.
Verto’s new solution directly addresses these challenges by giving US-domiciled businesses access to named USD accounts and a robust cross-border payment infrastructure, enabling them to move funds and settle transactions in local currencies with speed and efficiency.
Built for venture-backed startups, import-export SMEs, and investors funding emerging market innovation, this solution will enable clients to receive funds directly into a named USD business account from US based customers or investors, convert and settle between USD and local currencies such as NGN and KES quickly and at lower cost, as well as hold, receive, and pay in 48 currencies from a single dashboard.
The solution will also allow users to pay contractors, suppliers, and offshore teams instantly via local payment rails. It also equips teams with virtual cards to spend in 11 currencies without fees and leverage specialised onboarding and monitoring that navigates both US and African regulatory requirements
By combining US and African compliance expertise, Verto’s Business Accounts empowers companies to maintain a US domestic presence for investors, customers, and suppliers while using deep-liquidity rails to pay global contractors and settle trades in local currencies efficiently, ensuring uninterrupted trade, payroll, and investment flows, without the risk of blocked or delayed transactions.
“We believe founders building across borders should not be constrained by the limitations of traditional banking,” said Ola Oyetayo, CEO of Verto. “Providing named accounts in the US empowers businesses with the funds they need to operate globally, connecting the US and Africa more efficiently without friction.”
With over 8 years of experience and $25 billion in annual global cross-border transaction volume, Verto continues to provide the infrastructure, expertise, and trusted payment rails businesses need to operate confidently across borders and scale globally.
By Adedapo Adesanya
The Presidential Enabling Business Environment Council (PEBEC) has directed Ministries, Departments, and Agencies (MDAs) to suspend the introduction of new policies and regulatory changes to prevent disruptions to businesses.
The directive was issued in a statement by PEBEC director-general, Mrs Zahrah Mustapha-Audu, on Monday in Abuja, noting that the move is part of the Federal Government’s broader effort to improve regulatory quality, ensure policy consistency, and strengthen Nigeria’s ease of doing business environment.
The council emphasised that the suspension will remain in place until all MDAs fully comply with the Regulatory Impact Analysis (RIA) Framework, which governs evidence-based policymaking across government institutions.
The council said the directive is aimed at ensuring that all government policies are backed by verifiable data and do not negatively impact businesses or investors.
“It is imperative to emphasise that no new reform or policy will be permitted to proceed without being grounded in clear, verifiable evidence,” said Mrs Mustapha-Audu.
“The framework provides the structured mechanism through which such evidence-based decisions can be rigorously developed, assessed, and validated.
“This directive is necessary to prevent policy shocks that may adversely affect businesses, investors, and citizens, as well as to eliminate policy inconsistencies and frequent reversals.”
She added that the government remains committed to working collaboratively with regulators and does not intend to embarrass any institution.
The Regulatory Impact Analysis (RIA) Framework, introduced in January 2025, is designed to improve transparency and ensure that policies undergo proper evaluation before implementation.
All MDAs are required to align new policies and amendments with the RIA framework before approval and rollout.
The framework has been circulated by the Office of the Secretary to the Government of the Federation (SGF) and is available on the PEBEC website.
MDAs are encouraged to seek technical support from the PEBEC Secretariat to ensure proper implementation.
Exceptions to the directive will only be granted in cases of urgent national interest, subject to appropriate approvals.
PEBEC noted that the framework will help institutionalise evidence-based policymaking, enhance transparency, and improve stakeholder confidence in government decisions.
By Aduragbemi Omiyale
Subscription for the Federal Government of Nigeria (FGN) savings bonds for April 2026 has opened, a circular from the Debt Management Office (DMO) on Tuesday, April 7, 2026, confirmed.
The debt office is selling the retail debt instrument for this month in two tenors of two years and three years.
Offer for the savings bonds opened today and will close on Friday, April 10, 2026, a part of the disclosure stated.
The 2-year FGN savings bond due April 15, 2028, is being sold at a coupon rate of 13.082 per cent per annum, while the 3-year FGN savings bond due April 15, 2029, is being sold at a coupon rate of 14.082 per cent per annum.
The interests are paid every quarter, and the bullet repayment to subscribers on the maturity date.
The bonds are sold at N1,000 per unit, subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.
Interested investors are required to reach out to the stockbroking firms appointed as distribution agents by the DMO via the agency’s website.
An FGN savings bond qualifies as securities in which trustees can invest under the Trustee Investment Act. It also qualifies as government securities within the meaning of the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA) for tax exemption for pension funds, amongst other investors, meaning it is tax-free.
It can be used as a liquid asset for liquidity ratio calculation for banks, and is listed on the Nigerian Exchange (NGX) Limited to allow for easy exit (liquidation) before maturity by selling at the secondary market.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn