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
The Central Securities Clearing System (CSCS) Plc has declared the first interim dividend in its history after posting its financial results for the first half of 2026, reflecting robust earnings growth, improved operating efficiency and stronger capital market activity.
The board approved an interim dividend of N1.00 per ordinary share for the six months ended June 30, 2026, citing the company’s strong cash generation, resilient balance sheet and confidence in the sustainability of its earnings.
The interim payout represents about 56 per cent of the total dividend of N1.78 per share paid for the 2025 financial year, underscoring its strong earnings momentum while preserving financial flexibility to invest in technology, innovation and future growth.
CSCS recorded one of the strongest financial performances in its history during the review period, with total operating income rising by 92 per cent to N18.51 billion from the corresponding period of 2025.
The growth was driven by higher transaction fee income as capital market activity strengthened, continued expansion in depository services, increased collateral management revenues and stronger contributions from data and technology-enabled services. Investment income also improved as the company optimised its investment portfolio.
Despite the sharp rise in revenue, operating expenses increased by only 38 per cent, reflecting disciplined cost management and the scalability of the company’s business model.
As a result, operating profit surged by 186 per cent to N10.11 billion, while profit before tax climbed by 115 per cent to N13.21 billion. Earnings per share also rose significantly to 190.1 kobo from 109.1 kobo in the corresponding period of 2025.
The organisation also recorded improvements in operating efficiency. Its cost-to-income ratio declined to 45.4 per cent from 63.2 per cent a year earlier, while operating profit margin improved to 54.6 per cent from 36.8 per cent.
According to the company, the results demonstrate not only the benefits of stronger market activity but also the resilience of its operating model and its ability to convert revenue growth into higher profitability, improved shareholder returns and sustainable long-term value creation.
Commenting on the interim dividend, the Chairman of CSCS Plc, Mr Temi Popoola, said the board’s decision reflected confidence in the firm’s financial strength, earnings quality and long-term strategic direction.
He said the strong performance was driven not only by increased market activity but also by sustained improvements in operational efficiency, disciplined cost management and the continued diversification of revenue streams.
Mr Popoola noted that the Board remained committed to balancing shareholder returns with investments in technology, innovation, resilience and new growth opportunities that would strengthen CSCS’ position as Nigeria’s leading financial market infrastructure and one of Africa’s foremost post-trade institutions.
The chief executive of CSCS Plc, Mr Shehu Yahaya Shantali, attributed the strong performance to the resilience of the entity’s business model, the dedication of its workforce and the confidence of market participants.
He said the first-ever interim dividend demonstrated the company’s ability to translate strong earnings growth and improved operating efficiency into enhanced shareholder value.
Mr Shantali added that CSCS would continue to strengthen its core market infrastructure, invest in technology and innovation, diversify its revenue base and enhance value creation for stakeholders while supporting the development of Nigeria’s capital market.
By Aduragbemi Omiyale
The national scale long-term issuer rating of Axxela Limited has been upgraded by GCR Rating to A+(NG), just as its short-term issuer rating was affirmed with a stable outlook.
The rating firm upgraded the long-term issue rating for Axxela Funding 1 Plc’s N16.4 billion series 1 senior unsecured bond to A+(NG), while the N11.5 billion series 1 senior secured bond was lifted to A+(NG)(EL).
GCR noted in a note that the actions reflect the leading gas and power portfolio company’s robust business model, strong earnings performance, and sustained financial profile, reinforcing its ability to deliver long-term value while maintaining financial discipline.
Axxela’s recent achievements have been driven by its continued focus on responsible growth, customer satisfaction, and creating lasting value for national development.
“The ratings upgrade by GCR is a strong endorsement of Axxela’s disciplined approach to business. Beyond recognising our financial strength, it reflects the resilience of our business model and the confidence in our strategic direction.
“Over the past few years, we have continued to make significant strides across the business by expanding our natural gas infrastructure, strengthening our operational footprint, advancing our sustainability agenda, and maintaining an unwavering commitment to operational excellence and safety,” the chief executive of Axxela, Mr Moshood Olajide, commented on the development.
As the company continues to advance its long-term growth strategy, the upgraded ratings reinforce confidence in Axxela’s credit profile, financial resilience, and ability to create enduring value for investors, customers and other stakeholders.
By Adedapo Adesanya
The Ministry of Solid Minerals Development and the National Identity Management Commission (NIMC) have strengthened their partnership to deploy digital identity technology, aiming to combat illegal mining and enhance security in Nigeria’s mining sector.
Speaking while receiving the Director-General and management of NIMC on a courtesy visit to his office in Abuja, the Minister of Solid Minerals Development, Mr Dele Alake, described the commission as a critical institution in Nigeria’s development architecture, stressing that effective governance could not be achieved without a credible identity management system.
“NIMC occupies a critical position in translating policy into reality. It is pivotal to the development of any nation because governance today is driven by data, technology and credible identity systems,” he added.
He noted that inadequate identification systems had weakened enforcement efforts over the years, allowing illegal mining activities to flourish in mineral-rich communities.
“Without identification, we cannot trace or track, and insecurity will flourish. In the solid minerals sector, we need effective monitoring of both legal and illegal operations.
“A credible identity ecosystem will strengthen regulation, improve enforcement and support our efforts to sanitise the sector,” Mr Alake said.
The minister identified technology, statistics, data gathering and digital identity as critical enablers for evidence-based policymaking, improved regulatory oversight, efficient licensing, investment promotion and national development.
On her part, the DG of NIMC, Mrs Abisoye Coker-Odusote, highlighted several opportunities for collaboration between both institutions, noting that the newly enacted NIMC Act has positioned Nigeria to fully embrace a digital governance ecosystem.
She explained that deeper integration of identity management into the solid minerals sector would facilitate database integration across government institutions, enhance regulatory compliance, strengthen security and law enforcement, improve monitoring of operators, and provide stronger support for the implementation of Community Development Agreements (CDAs) in mining host communities.
Mrs Coker-Odusote added that NIMC’s upgraded digital infrastructure is capable of supporting government institutions in building reliable databases, improving transparency and delivering more efficient public services.
Both institutions said they would immediately begin implementing technology-driven initiatives under the partnership, expressing confidence that expanding access to trusted digital identities for miners and other eligible residents would enhance accountability and strengthen governance in the solid minerals sector.
