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 Modupe Gbadeyanka
The federal government, the 36 states of the federation and the 774 local government areas have received N1.727 trillion from the Federal Accounts Allocation Committee (FAAC) for December 2024.
The funds were disbursed to the three tiers of government from the revenue generated by the nation in November 2024.
At the December meeting of FAAC held in Abuja, it was stated that the amount distributed comprised distributable statutory revenue of N455.354 billion, distributable Value Added Tax (VAT) revenue of N585.700 billion, Electronic Money Transfer Levy (EMTL) revenue of N15.046 billion and Exchange Difference revenue of N671.392 billion.
According to a statement signed on Friday by the Director of Press and Public Relations for FAAC, Mr Bawa Mokwa, the money generated last month was about N3.143 trillion, with N103.307 billion used for cost of collection and N1.312 trillion for transfers, interventions and refunds.
It was disclosed that gross statutory revenue of N1.827 trillion was received compared with the N1.336 trillion recorded a month earlier.
The statement said gross revenue of N628.972 billion was available from VAT versus N668.291 billion in the preceding month.
The organisation stated that last month, oil and gas royalty and CET levies recorded significant increases, while excise duty, VAT, import duty, Petroleum Profit Tax (PPT), Companies Income Tax (CIT) and EMTL decreased considerably.
As for the sharing, FAAC disclosed that from the N1.727 trillion, the central government got N581.856 billion, the states received N549.792 billion, the councils took N402.553 billion, while the benefiting states got N193.291 billion as 13 per cent derivation revenue.
From the N585.700 billion VAT earnings, the national government got N87.855 billion, the states received N292.850 billion and the local councils were given N204.995 billion.
Also, from the N455.354 billion distributable statutory revenue, the federal government was given N175.690 billion, the states got N89.113 billion, the local governments had N68.702 billion, and the benefiting states received N121.849 billion as 13 per cent derivation revenue.
In addition, from the N15.046 billion EMTL revenue, FAAC shared N2.257 billion to the federal government, disbursed N7.523 billion to the states and transferred N5.266 billion to the local councils.
Further, from the N671.392 billion Exchange Difference earnings, it gave central government N316.054 billion, the states N160.306 billion, the local government areas N123.590 billion, and the oil-producing states N71.442 billion as 13 per cent derivation revenue.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.65 per cent gain on Friday, December 13, boosted by three equities admitted on the trading platform.
On the last trading session of the week, Okitipupa Plc appreciated by N2.70 to settle at N29.74 per share versus Thursday’s closing price of N27.04 per share, FrieslandCampina Wamco Nigeria Plc added N2.49 to end the session at N42.85 per unit compared with the previous day’s N40.36 per unit, and Afriland Properties Plc gained 50 Kobo to close at N16.30 per share, in contrast to the preceding session’s N15.80 per share.
Consequently, the market capitalisation added N6.89 billion to settle at N1.062 trillion compared with the preceding day’s N1.055 trillion and the NASD Unlisted Security Index (NSI) gained 19.66 points to wrap the session at 3,032.16 points compared with 3,012.50 points recorded in the previous session.
Yesterday, the volume of securities traded by investors increased by 171.6 per cent to 1.2 million units from the 447,905 units recorded a day earlier, but the value of shares traded by the market participants declined by 19.3 per cent to N2.4 million from the N3.02 million achieved a day earlier, and the number of deals went down by 14.3 per cent to 18 deals from 21 deals.
At the close of business, Geo-Fluids Plc was the most active stock by volume on a year-to-date basis with a turnover of 1.7 billion units worth N3.9 billion, followed by Okitipupa Plc with the sale of 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 million.
In the same vein, Aradel Holdings Plc remained the most active stock by value on a year-to-date basis with the sale of 108.7 million units for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with a turnover of 297.3 million units worth N5.3 billion.
By Adedapo Adesanya
The Naira appreciated further against the United States Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N1.50 or 0.09 per cent to close at N1,533.00/$1 on Friday, December 13 versus the N1,534.50/$1 it was transacted on Thursday.
The local currency has continued to benefit from the Electronic Foreign Exchange Matching System (EFEMS) introduced by the Central Bank of Nigeria (CBN) this month.
The implementation of the forex system comes with diverse implications for all segments of the financial markets that deal with FX, including the rebound in the value of the Naira across markets.
The system instantly reflects data on all FX transactions conducted in the interbank market and approved by the CBN.
Market analysts say the publication of real-time prices and buy-sell orders data from this system has lent support to the Naira in the official market and tackled speculation.
In the official market yesterday, the domestic currency improved its value against the Pound Sterling by N12.58 to wrap the session at N1,942.19/£1 compared with the previous day’s N1,954.77/£1 and against the Euro, it gained N2.44 to close at N1,612.85/€1 versus Thursday’s closing price of N1,610.41/€1.
At the black market, the Nigerian Naira appreciated against the greenback on Friday by N30 to sell for N1,650/$1 compared with the preceding session’s value of N1,680/$1.
Meanwhile, the cryptocurrency market was largely positive as investors banked on recent signals, including fresh support from US President-elect, Mr Donald Trump, as well as interest rate cuts by the European Central Bank (ECB).
Ripple (XRP) added 7.3 per cent to sell at $2.49, Binance Coin (BNB) rose by 3.5 per cent to $728.28, Cardano (ADA) expanded by 2.4 per cent to trade at $1.11, Litecoin (LTC) increased by 2.3 per cent to $122.56, Bitcoin (BTC) gained 1.9 per cent to settle at $101,766.17, Dogecoin (DOGE) jumped by 1.2 per cent to $0.4064, Solana (SOL) soared by 0.7 per cent to $226.15 and Ethereum (ETH) advanced by 0.6 per cent to $3,925.35, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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