Economy
Madagascar Loses $1.5b Annually
**Seeks Support, Investment to Fight Chronic Malnutrition
By Modupe Gbadeyanka
The results of a new Cost of Hunger in Africa (COHA) study indicate that Madagascar’s economy loses $1.5 billion per year – the equivalent of 14.5 percent of the country’s Gross Domestic Product (GDP) – to the effects of malnutrition.
The COHA study is a project led by the African Union Commission and the New Partnership for Africa’s Development (NEPAD), developed with the support of the United Nations Economic Commission for Africa (UNECA) and the World Food Programme (WFP). The findings highlight the extent of social and economic losses caused by child malnutrition in a given country.
Mrs Hawa Ahmed Youssouf, the African Union Commission Representative in Madagascar, today officially presented the study report to the Prime Minister and Head of Government of Madagascar, Olivier Mahafaly Solonandrasana.
During the ceremony held in Antananarivo, the Prime Minister expressed his concern about the alarming levels of chronic malnutrition in the country. In Madagascar, 47 percent of children under the age of five are affected by stunting (low growth for age).
“Madagascar has the fifth highest rate of stunting in the world,” said the Prime Minister. “The results of the Cost of Hunger study confirm the urgency of mobilizing more resources and investment to reduce the level of malnutrition and its impact. This is one of the priorities of the National Development Plan. I call on our multi-sectoral partners to join us in this endeavor.”
Under the leadership of the Prime Minister, the COHA study in Madagascar was conducted by the National Implementation Team (composed of 14 agencies and ministries) with the support of the United Nations and financial partners.
“The study aims to enhance African governments’ awareness of child malnutrition and of the fact that this is not only a health and social issue, but one of major economic concern,” said Mrs Youssouf. “The African Union supports this initiative in Madagascar because we know that the government is committed to fighting malnutrition.”
Madagascar is the tenth country in Africa to have conducted the COHA study, after Burkina Faso, Chad, Ghana, Ethiopia, Lesotho, Malawi, Uganda, Rwanda and Swaziland. The process has revealed that African economies are losing between 1.9 and 16.5% of GDP to child malnutrition.
The official launch of the Madagascar report was followed by a presentation of the ‘MIARO’ integrated project on nutrition and maternal and child health, which aims to prevent chronic malnutrition among children aged 6 to 23 months and pregnant and nursing women, while improving women’s access to reproductive health services in the south of the country.
The COHA launch comes as the south of Madagascar suffers the effects of drought, exacerbated this year by the El Niño weather event.
In November, WFP assisted one million people through general food distributions, cash transfers and nutritional support for the prevention and treatment of moderate acute malnutrition.
WFP’s ability to maintain this level of assistance over coming months will depend on the availability of funding for its operations.
Malnutrition is a condition resulting from nutrient deficiencies often associated with food insecurity, poor health, poor hygiene and sanitation, and poverty.
It should be noted that in Madagascar, in spite of the climactic challenges, particularly in the south, food is available in the markets.
However, access to it is often an issue because of the high levels of poverty among more vulnerable households.
Another factor is that good nutritional practices are not yet sufficiently established among the population.
In Madagascar, 47 percent of children under 5 suffer from chronic malnutrition (or stunting).
About 9 percent of children under 5 years of age across the country suffer from acute malnutrition (or wasting), although the southern part of the country is more severely affected with frequent spikes in malnutrition rates.
By Adedapo Adesanya
Oil traded lower on Wednesday after US President Donald Trump eased fears of disruptions to Iranian supplies, indicating that killings in Iran’s crackdown on civil unrest were subsiding.
Yesterday, the price of Brent futures declined by 92 cents or 1.41 per cent to $64.55 per barrel while the US West Texas Intermediate (WTI) futures slipped 96 or 1.57 per cent to $60.19 a barrel.
Prices had risen on fears of Iranian supply disruptions due to a potential US attack on Iran and possible retaliation against US regional interests.
President Trump said on Wednesday afternoon he had been told that killings in Iran’s crackdown on nationwide protests were subsiding and he believed there was currently no plan for large-scale executions.
Still, tensions between Iran and the US remained high after Iran had warned US allies in the Middle East it would strike American bases on their soil if the US attacked it. The US began evacuating military personnel from a key Qatar air base on Wednesday.
While markets may have cooled somewhat on the back of President Trump’s comments, protests in Iran have persisted, and there remains plenty of uncertainty over what might come next.
Market analysts noted that continued protests in Iran risk tightening global oil balances through near-term supply losses, but mainly through rising geopolitical risk premium.
However, this remains somewhat minimal as the protests had not spread to the main Iranian oil-producing areas, which had limited the effect on actual supply.
Also supporting oil prices, Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday he was optimistic about the economic outlook and expected inflation to ease.
It is also looking increasingly likely that Venezuela’s oil supply is set to return to markets, with the US completing its first sale of Venezuelan oil on Wednesday.
Two supertankers departed Venezuelan waters on Monday with about 1.8 million barrels each of crude in what may be the first shipments of a 50 million-barrel supply deal between Venezuela and the US to get exports moving again following the capture of Venezuelan President Nicolas Maduro.
Crude oil inventories in the US increased by 3.4 million barrels during the week ending January 14, according to new data from the US Energy Information Administration (EIA) released on Wednesday.
The EIA’s data release follows figures by the American Petroleum Institute (API) that were released a day earlier, which suggested that crude oil inventories grew by 5.27 million barrels.
By Adedapo Adesanya
TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the divestment of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Company Limited (55 per cent), Renaissance Africa Energy Company Ltd (30 per cent, operator), TotalEnergies EP Nigeria (10 per cent) and Agip Energy and Natural Resources Nigeria (5 per cent), which holds 18 licences in the Niger Delta.
In a statement by TotalEnergies on Wednesday, it was stated that under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil.
Production from these licences, it was said, represented approximately 16,000 barrels equivalent per day in company’s share in 2025.
The agreement also stated that TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the three other licences of Renaissance JV which are producing mainly gas, namely OML 23, OML 28 and OML 77, while TotalEnergies will retain full economic interest in these licences, which currently account for 50 per cent of Nigeria LNG gas supply.
Business Post reports that the conclusion of the deal is subject to customary conditions, including regulatory approvals.
“TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the sale of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
“Under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell to Vaaris its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil. Production from these licences represented approximately 16,000 barrels equivalent per day in the company’s share in 2025.
“TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the 3 other licenses of Renaissance JV, which are producing mainly gas (OML 23, OML 28 and OML 77), while TotalEnergies will retain full economic interest in these licenses, which currently account for 50 per cent of Nigeria LNG gas supply. Closing is subject to customary conditions, including regulatory approvals,” the statement reads in part.
The development is part of TotalEnergies’ strategies to dump more assets to lighten its books and debt.
By Aduragbemi Omiyale
The trading licence of Monument Securities and Finance Limited has been revoked by the regulatory arm of the Nigerian Exchange (NGX) Group Plc.
Known as NGX Regulations Limited (NGX Regco), the regulator said it took back the operating licence of the organisation after it shut down its operations.
The revocation of the licence was approved by Regulation and New Business Committee (RNBC) at its meeting held on September 24, 2025, a notice from the signed by the Head of Market Regulations at the agency, Chinedu Akamaka, said.
“This is to formally notify all trading license holders that the board of NGX Regulation Limited (NGX RegCo) has approved the decision of the Regulation and New Business Committee (RNBC)” in respect of Monument Securities and Finance Limited, a part of the disclosure stated.
Monument Securities and Finance Limited was earlier licensed to assist clients with the trading of stocks in the Nigerian capital market.
However, with the latest development, the firm is no longer authorised to perform this function.
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