Business
Nigeria Emits 57 million Tons of Plastic Waste To Ocean – Deloitte
OUT of a combined 139 million tons of plastic pollution in the world’s oceans, Nigeria emmited 0.41 percent ( 56.9 million), through the Lagos Harbour.
This is even as 170 countries recently agreed to have a first draft of a global plastics treaty ready by November 2023.
Deloitte for The Ocean Cleanup, disclosed this in a plastic pollution study that profiles 87 countries.
” There is now a combined 139 million tons of plastic pollution in the world’s oceans, seas, and rivers, including the world’s number one most littered item: single-use cigarette filters,” said the report.
In the country by country reports, Nigeria’s share of global plastic pollution emitted to the ocean is estimated at 0.41 percent (or 56.9 million).
Philippines account for 0.47 percent; India 0.46 percent; Vietnam 0.36 percent; China 0.37 percent and Myanmar 0.37 percent.
The report, further notes that every year, plastic pollution costs coastal countries between $6.0 and $19.2 billion.
“If you take the UK, for example, the direct costs borne by the government were between $7.1 and $31.7 million, but the report estimated the total costs to be between $29.6 and $266.2 million,” it said.
The direct costs of cleaning coastlines, waterways, marinas, and ports make up the lion’s share, between $5.6 and $15.0 billion in government expenditures.
But clean-up costs aren’t the only impact. Polluted beaches and stranded debris also have an impact on tourism, estimated to be between $237.8 million and $2.4 billion.
And while the harm to marine ecosystems can’t be overstated, the cost to fisheries and aquaculture, and the communities that depend on them, is real. It adds up to between $114.4 million and $1.9 billion annually.
Business
Oil Rises As US Rejects Iran Proposal
Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.
Brent crude climbed above $106 per barrel on Monday, recovering losses from the previous session after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, raising concerns that the restoration of oil flows through the critical waterway could face further delays.
Trump also said Tehran had overplayed its hand and expects negotiations to resume this week.
Meanwhile, Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.
Elsewhere in the Middle East, tensions remain high as Saudi Arabia intercepted Houthi drones heading toward Riyadh, along with a missile targeting Khamis Mushait in the south.
Alerts were also issued in Abha and Jazan, where Aramco operates energy facilities.
In the US, Trump is considering a ban on diesel exports as part of efforts to address elevated fuel prices.
Business
NGX Debuts Invest WhatsApp Channel
The channel provides investors with an additional, convenient way to participate in public offers.
Nigerian Exchange Group (NGX Group) has expanded access to its NGX Invest platform with the launch of a WhatsApp subscription channel.
The channel provides investors with an additional, convenient way to participate in public offers.
Investors can begin the subscription process by sending “Invest” to NGX Invest on WhatsApp at +234 812 731 9521.
They can then follow the prompts to view eligible offers and complete the required subscription steps without downloading a separate application.
As part of the process, investors will select a stockbroker through whom their application will be processed, ensuring that brokers remain an integral part of the investment journey.
(VANGUARD)
Business
SEC Highlights Focus of National Capital Market Conference 2026
The conference will be declared open by the Vice-President of the Federal Republic of Nigeria, Senator Kashim Shettima.
The Securities and Exchange Commission (SEC) says that its forthcoming National Capital Market Conference 2026 will be used to officially launch the Nigerian Capital Market Master Plan 2.0 (NCMMP), and the National Savings Scheme, among other activities.
The conference will be declared open by the Vice-President of the Federal Republic of Nigeria, Senator Kashim Shettima, and hosted by the Honourable Minister of Finance and Coordinating Minister of the Economy, Professor Taiwo Oyedele.
In a statement , SEC Director -General, Dr. Emomotimi Agama, disclosed that the conference scheduled for 19 October, in Abuja, will bring together key stakeholders from the public and private sectors to discuss strategic initiatives aimed at further deepening the Nigerian capital market, enhancing domestic resource mobilization, strengthening investor participation, and supporting sustainable economic growth and national development.
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