Economy
Despite the Infections, Africa Without Monkeypox Vaccines
By Kestér Kenn Klomegâh
The World Health Organization (WHO) has declared monkeypox a new global health emergency after 20,000 cases were reported in 77 countries. Some 75 people have died in the 11 African countries where the disease was recorded, according to the latest reports in late July. It said monkeypox is an “extraordinary” situation that qualifies as a global health emergency.
Despite these few deaths last month and signs that it would spread further, Africa is fighting monkeypox without vaccine the same as it has been with Covid-19. A surge in monkeypox infections has particularly been reported since early May outside the West and Central African countries where the disease has long been endemic.
The vast majority of deaths due to monkeypox have been registered on the African continent. Africa remains the only part of the world with no doses of the vaccine, according to the Africa Centers for Disease Control and Prevention.
“Let us get vaccines onto the continent,” acting head of the African Centre for Disease Control, ACDC, Ahmed Ogwell, said in a weekly media briefing pointing to another instance of 1.3 billion people on the continent without access to a vaccine, as in the Covid-19 pandemic.
Reports said that monkeypox has been established in parts of central and west Africa for decades, but it was not known to spark large outbreaks beyond the continent or to spread widely among people until May when authorities detected dozens of epidemics in Europe, North America and elsewhere.
Ogwell said the Africa CDC has engaged with international partners in attempts to obtain vaccines, and while he said “good news” is expected in the coming days, “we cannot be able to give you a timeline.”
Even doses of the smallpox vaccine, which has shown effectiveness against monkeypox, are not available in Africa, Ogwell said. “The solutions need to be global in nature,” he said, in a warning to the international community. “If we’re not safe, the rest of the world is not safe.”
The Covid-19 pandemic and the global hoarding of vaccine doses were a jolt to African leaders, who quickly joined together in an unprecedented effort to obtain doses and establish the production of more vaccines on the continent.
WHO’s Director-General Tedros Adhanom Ghebreyesus said there were about 16 million doses of approved vaccine available, but only in bulk, so it would take several months to get them into vials. His organization is currently urging countries with stockpiles to share vaccines while supply is constrained. It, however, estimates that between 5 million and 10 million doses of vaccine will be needed to protect all high-risk groups.
It has said it is creating a vaccine-sharing mechanism for protection against monkeypox, but the organization has released few details, so there’s no guarantee that African countries will get priority. No countries have yet agreed to share any vaccines with the health organization.
WHO, however, warned against discrimination. “A failure to act will have grave consequences for global health,” Lawrence Gostin, the director of the WHO Collaborating Center on National and Global Health Law, said on Twitter.
Health officials have emphasized that monkeypox can infect anyone in close contact with a patient or their contaminated clothing or bedsheets. Researchers are still exploring how it spreads but believe it’s mainly through close, skin-to-skin contact and through contact with bedding and clothing that touched an infected person’s rash or body fluids.
Another report also pointed to the fact that monkeypox has been a globally neglected public health problem in parts of Africa for decades, but cases began to be reported outside countries where it is endemic in May. It generally causes mild to moderate symptoms, including fever, fatigue and painful skin lesions that resolve within a few weeks.
In Africa, monkeypox mainly spreads to people by infected wild animals like rodents in limited outbreaks that typically have not crossed borders. In Europe, North America and elsewhere, however, monkeypox is spreading among people with no links to animals or recent travel to Africa. In the U.S. and Europe, the vast majority of infections have happened in men who have sex with men, though health officials have stressed that anyone can contract the virus.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited remained in the green territory on Wednesday after further appreciating by 0.11 per cent, driven by gains in bellwethers like MTN Nigeria, GTCO, and others.
Data from Customs Street showed that the insurance and the consumer goods sectors went up by 0.76 per cent and 0.42 per cent apiece, offsetting the 0.98 per cent loss posted by the banking index and the 0.11 per cent decline suffered by the industrial goods counter. The energy sector closed flat at the close of transactions.
When the closing gong was beaten at midweek, the All-Share Index (ASI) increased by 219.87 points to 200,925.75 points from 200,705.88 points, and the market capitalisation went up by N141 billion to N128.977 trillion from N128.836 trillion.
Investor sentiment remained strong yesterday after the bourse recorded 36 price gainers and 33 price losers, representing a positive market breadth index.
Legend Internet grew by 10.00 per cent to N7.26, Zichis gained 9.93 per cent to settle at N11.40, Premier Paints expanded by 9.93 per cent to N31.00, John Holt improved by 9.79 per cent to N15.70, and Consolidated Hallmark advanced by 6.26 per cent to N5.26.
On the flip side, Fidson declined by 9.97 per cent to N94.85, Austin Laz lost 9.89 per cent to quote at N4.01, Living Trust Mortgage Bank shrank by 7.08 per cent to N4.46, Secure Electronic Technology slumped by 7.04 per cent to N1.32, and Sterling Holdco depreciated by 5.56 per cent to N7.65.
The busiest equity for the day was Wema Bank, which transacted 104.3 million units worth N2.8 billion. Access Holdings traded 42.8 million units valued at N1.1 billion, Zenith Bank exchanged 33.9 million units for N3.6 billion, Zichis sold 26.6 million units worth N221.2 million, and GTCO recorded a turnover of 25.6 million units valued at N2.9 billion.
In all, investors bought and sold 538.0 million units for N25.4 billion in 45,641 deals on Wednesday compared with the 1.3 billion units worth N65.3 billion traded in 89,949 deals on Tuesday, implying a decrease in the trading volume, value, and number of deals by 58.62 per cent, 61.10 per cent, and 49.26 per cent apiece.
By Aduragbemi Omiyale
The federal government, through the Minister of Women Affairs and Social Development, is working together with the Nigerian Exchange (NGX) Group Plc to deepen the participation of women in capital markets.
The Minister of Women Affairs and Social Development, Ms Imaan Sulaiman-Ibrahim, underscored the urgency of inclusion in achieving national economic ambitions.
“The capital market reflects our collective choices, who participates, who has access, and who benefits. Women remain underrepresented in formal finance despite their critical role in Nigeria’s productivity.
“Through strategic partnerships and targeted interventions, we are working to change this narrative and expand opportunities for women across the economy.
“Achieving a one-trillion-dollar economy requires the full participation of Nigerian women,” she said at the closing gong ceremony at the NGX on Tuesday in Lagos.
She said the government was ready to partner with capital market stakeholders to expand financial access and unlock opportunities for women across the country.
Welcoming the Minister, the chairman of NGX Group, Mr Umaru Kwairanga, commended the Ministry’s leadership in promoting women’s development and economic participation.
“Women are central to Nigeria’s economic progress. As we work towards a more inclusive and resilient economy, the capital market remains a vital platform for expanding access to finance, supporting women-led enterprises, and enabling broader participation in wealth creation.
“NGX Group remains committed to partnering with the Ministry to drive sustainable impact and empower the next generation of women leaders,” he stated.
Also speaking, the Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, emphasised the importance of deliberate inclusion.
“Behind every successful market are women. For Nigeria’s capital market to reach its full potential, we must be intentional about empowering women as active participants.
“Current participation levels do not yet reflect our population or potential. Collaborations like this send a strong call to action for more women across Nigeria to engage with the market and contribute to national growth,” the SEC chief stated.
On his part, the chief executive of NGX Group, Mr Temi Popoola, said, “At NGX Group, we are building a dynamic and inclusive market ecosystem that expands access to investment opportunities and supports diverse participants. Through partnerships such as this, we are unlocking new pathways for women to participate as investors, entrepreneurs, and wealth creators.”
By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has acknowledged that the country still depends on imported petroleum products as domestic refining cannot fully meet local demand.
Speaking on the state of the downstream sector at the CERAWeek by S&P Global Conference in Houston, Texas, Mr Lokpobiri acknowledged that while local refining capacity has improved significantly, it remains insufficient to fully cover national consumption.
The Minister noted that Nigeria was making measurable progress, with domestic refining contributing a growing share of supply, but added that imports remain a critical component of the country’s fuel supply mix for now.
“We are not yet at a point where local production alone can satisfy total consumption,” he said, underscoring the need to sustain imports while capacity continues to build.
The Minister emphasised that Nigeria’s daily fuel consumption stands at about 50 million litres, while domestic refining output remains below that level, making imports necessary to bridge the shortfall and ensure supply stability.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) aligns with this position, showing that although local refining volumes have risen in recent months, they are not yet sufficient to fully meet national demand.
Dangote refinery had earlier this year said it can supply 75 million litres of Premium Motor Spirit (PMS) daily against an estimated national consumption of 50 million litres, alongside 25 million litres of Automotive Gas Oil (AGO) compared with an estimated daily demand of 14 million litres.
It also stated that it has the capacity to supply 20 million litres of aviation fuel daily, far above the estimated maximum domestic consumption of four million litres.
According to the refinery, the availability of volumes above prevailing demand provides critical supply buffers, enhances market stability and reduces reliance on imports, particularly during periods of peak demand or logistical disruption.
The minister highlighted what he described as a fundamental shift in Nigeria’s petroleum sector following recent reforms.
He noted that Nigeria has moved away from a subsidy-driven regime that, for years, placed a heavy fiscal burden on the country and distorted the downstream market.
According to him, the removal of subsidies has not only eased pressure on government finances but also curtailed widespread fuel smuggling and arbitrage that previously thrived under price differentials.
Mr Lokpobiri said the deregulation of the downstream sector is beginning to deliver results, with a more transparent and competitive market structure emerging. This, he added, is helping to restore investor confidence and attract new investments into refining and related infrastructure.
The minister also pointed to ongoing efforts to rehabilitate existing refineries and support new refining projects, noting that these initiatives are critical to closing the gap between production and consumption.
He emphasised that while Nigeria is making steady progress toward boosting domestic refining capacity, noting that the transition will take time to sustain investment and policy consistency.
At the same time, Mr Lokpobiri underscored Nigeria’s ambition to evolve beyond meeting local demand to becoming a supplier of refined petroleum products within the West African region.
However, he maintained that achieving that goal depends first on significantly expanding domestic capacity.
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