Thailand back to hard graft after day off

Thailand’s national team were back on the training pitch at BGTC 3 on Wednesday, stepping up preparations for their Group B second fixture against Malaysia in the Asean Hyundai Cup 2026.

Defender Pansa Hemviboon, speaking ahead of the evening session, said the squad was in good shape with no fresh injuries following the opening match.

“Every player is ready for the next match. We had a full recovery in fitness terms,” he said. “Malaysia are a good side with a good standard — they’ve always played well against us, especially their strikers, who have real quality.”

Pansa added that a home crowd would give Thailand a lift. “I believe the fans will come out in full force. That will also help pressure the opponent. We have to beat Malaysia to keep our qualification hopes alive.”

Midfielder Worachit Kanitsribumphen said the squad’s condition was improving after a demanding double session.

“The coaching staff have been stressing fitness and tactics for the Malaysia game,” he said. “We need to be wary of their counter-attacking threat — they switch from defence to attack very quickly, and both their wingers and strikers are dangerous.”

Worachit praised the squad’s cohesion following the opening win over Laos and said the younger players had settled in well under head coach Anthony Hudson.

“Coach Hudson has told us not to underestimate anyone — Laos wasn’t easy, but we delivered. Malaysia is a must-win game at home. Three points here would give us a strong chance of topping the group.”

Worachit also acknowledged the physical toll of a congested travel schedule but said a lengthy rest period beforehand had left the squad refreshed and ready to face Malaysia.

Thailand face Malaysia on Saturday at Rajamangala Stadium, kicking off at 8pm.

Meanwhile, Thailand have been drawn alongside Vietnam, Pakistan and the Philippines in Group B for the inaugural Fifa Asean Cup, world football’s governing body confirmed on Wednesday.

The new tournament will be split into two divisions, with the top tier staged in Indonesia and the second division held in Hong Kong. The competition runs from Sept 24-Oct 3, with Fifa expected to confirm the full format and schedule in due course.

How backlash over Igbo language comment sparks fresh clash between Peter Okoye, Rudeboy

Peter Okoye of the once-renowned music duo P-Square sparked reactions after responding to a fan on X who asked whether his children were fluent in Igbo, his native language.

The fan had asked if his children could speak Igbo after Peter shared photos of them in Paris with the caption:

‘Still in Paris! Watching my kids speak French so effortlessly makes me think maybe it is time to own a crib here in Paris.’

Responding to the fan, Peter wrote, ‘Who Naija language help? Make I hear word abeg.’

His response sparked backlash from several social media users, who criticised him for dismissing the importance of Nigerian languages despite incorporating them into his music and benefiting from their cultural and commercial appeal.

His twin brother, Rudeboy, reacted to this in a separate post, ‘I’m a ‘nobody’. I repeat! A nobody!! Without the culture, native language, the pride of a Nigerian. 100% proudly Nigerian. 100% proudly Igbo.’

Rudeboy’s post did not sit well with Peter, who addressed the situation in an apology for his earlier remarks.

‘But again, bro, you’re at it again, using this moment as another opportunity to pull me down. Just like I wrote in my open letter two years ago, doing everything possible to make people hate me will never work.

‘Yes, people are dragging me over my statement, and that is okay. I accept that. But deliberately twisting my words and using petty tactics to damage my reputation says a lot.

‘ I don’t know why you look for every opportunity to make derisive comments or jump on the bandwagon whenever I am being attacked.’

The exchange sparked further reactions from fans, many of whom expressed concern over the rift between the brothers.

One X user commented in a light-hearted tone, ‘Is this an apology or an attack against your brother? Stand one place joor, let’s know the actual coordinates to send to Sango.’

The public disagreement between the brothers continues to generate heated debate.

Uganda’s Olara Otunnu pledges UN reform, peace and AI governance in Secretary-General bid

After his unveiling as Uganda’s candidate for Secretary-General of the United Nations, veteran diplomat Olara Otunnu gave a glimpse of what he intends to do if elected to the world body’s top diplomatic position.

The 75-year-old Ugandan, who was on Wednesday unveiled by the Permanent Secretary in the Ministry of Foreign Affairs, Mr Vincent Bagiire, at the ministry’s headquarters in Kampala, said his agenda would broadly focus on 10 key issues, including ending conflicts, reforming the Security Council, and governing Artificial Intelligence (AI).

‘There are 10 of them, but let me highlight just a few. First, I say that the Secretary-General of the United Nations, by design, does not wield conventional power. That comes from military strength, a big base of resources, maybe popular support from the population,’ he said.

Adding: ‘The Secretary-General does not have that, but he has something else, which is moral authority. His or her moral authority flows directly from the principles of the UN Charter and the support of member states of the United Nations and the people of the world.’

According to Otunnu, the Secretary-General employs moral authority judiciously and carefully to lead the United Nations, but it has reportedly been eroded, prompting his proposal to do ‘several things’ to revive the role of the Secretary-General.

‘There is a debate about making the Security Council more representative of the world, and that is ongoing; we hope it comes to a successful conclusion soon. There is discussion about the UN bureaucracy, the functional organisation of the UN, and inefficiencies within the organisation that need to be addressed, and so on.’

‘I would thirdly say that all the roles of the UN are important, but perhaps the central mandate is ending conflicts and building peace. In short, we say the peace and security role or agenda of the UN. That is the central, most important role of the UN because the UN was born in the aftermath of the most devastating war the world has ever seen.

Otunnu said the world is in the middle of the information economy, while another transformation is emerging through the growing role and impact of AI, which he described as ‘an incredible blessing to the world’ if harnessed properly, but warned that it could become ‘a curse’ and begin to ‘dominate, rule and control us instead of the reverse.’

He said the UN is the only body that brings the entire world together, while AI affects the entire globe.

Consequently, his agenda is to immediately convene discussions bringing together the private sector, member states, scientists, and AI developers to establish a regime that will govern the development and deployment of AI.

Turning to the environment, Otunnu said there is no part of the world that is not feeling the effects of climate change.

‘The issue of addressing climate change should be nothing but a win-win solution that benefits the whole world. That is what we should work towards,’ Otunnu said, adding that he does not want the United Nations to become ‘a diplomatic ivory tower.’

‘There is need to weave a thread that connects the global to the local, and the local to the global. This time round, we should get somebody who is comfortable moving between these two worlds. So connect the global to the local, and the local to the global.’

The Otunnu Formula

On the attributes the Secretary-General should possess, Otunnu said he or she should be someone who is, by DNA, non-partisan, of goodwill to all, and humble ‘so that his or her ego doesn’t get in the way’, while remaining open to new ideas.

‘So, the Secretary-General should be a good, patient listener, hear everybody out, and not be afraid to put forward ideas. Secondly, obviously, the Secretary-General should be somebody with deep and very broad experience of the United Nations,’ he remarked in Kampala.

He added: ‘By the grace of God, I think there are very few people who have had the good fortune to work as broadly and as deeply at the United Nations as myself, across all sectors of the organization.’

Otunnu pointed to a track record of building consensus and proposing innovative solutions in situations of crisis and deadlock, including what is now known as the ‘Otunnu Formula’, which he said he developed in 1981 and which has since been used in the selection of the Secretary-General, helping to diffuse major confrontations between East and West, among other achievements.

Asked how he plans to advance the interests of the Global South amid concerns that multilateralism is being constrained by the West, and how he intends to promote equitable access to AI, particularly for developing countries, Otunnu described such notions as ‘shorthand’, saying poverty, the environment, climate change, and financing for development affect the entire world.

He said: ‘Similarly, if we are talking about conflict, does it matter whether it is in Ukraine, Iran, Asia, or Gaza? It doesn’t. The impact is devastating and tragic for the people there, and it affects the world. What matters is working together to come up with a common agenda, a common plan of action that benefits everybody.’

Africa Prudential sets strategic priorities, outlook at investor call

Africa Prudential Plc yesterday outlined its strategic priorities, growth outlook and performance to stakeholders during its H1 2026 Investor Call.

Institutional investors, shareholders, investment analysts, regulators and other stakeholders participated in the call to discuss Africa Prudential’s strong half-year performance. The performance demonstrates strong corporate governance, resilience and the effectiveness of the company’s growth strategy despite an evolving macroeconomic environment.

The company recorded gross earnings of N4.28 billion, representing a 27 per cent year-on-year increase from N3.34 billion in the corresponding period last year. Profit before tax rose to N2.41 billion, up 22 per cent, while profit after tax climbed to N1.59 billion, reflecting an 18 per cent increase.

Net operating income increased to N4.21 billion, representing a 27 per cent rise over the previous year. Total assets grew to N46.53 billion, a 13 per cent increase, while shareholders’ funds rose to N12.52 billion, also representing a 13 per cent growth.

The results were driven by sustained growth in the company’s core registrar business, increased corporate action activities in the Nigerian capital market, stronger treasury performance supported by the prevailing interest rate environment, and the increasing adoption of Africa Prudential’s technology-enabled solutions.

Beyond the numbers, management reaffirmed Africa Prudential’s strategic evolution from a traditional registrar into a diversified technology and business solutions company serving the broader capital market ecosystem.

The investor call reflected strong engagement from participants, with discussions centred on the company’s earnings sustainability, revenue diversification and long-term growth strategy.

A key question from investors focused on the company’s ability to sustain earnings growth in an environment where interest rates may begin to moderate.

Managing Director/Chief Executive Officer, Dr Catherine Nwosu, said: ‘Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, KYC services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix.’

She added: ‘With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders.’

Looking ahead, management outlined five strategic priorities that will drive the company’s growth through the second half of 2026.

The successful investor call demonstrated Africa Prudential’s commitment to maintaining an open dialogue with investors and the broader capital market community.

By providing timely insights into its financial performance and strategic direction, the company continues to reinforce confidence among shareholders, analysts and other stakeholders while strengthening its position as a trusted partner in Nigeria’s capital market.

Africa Prudential, a leading provider of share registration and capital market solutions with more than five decades of experience, remains committed to leveraging innovation and financial discipline to deliver sustained value to shareholders and strengthen its leadership position within Nigeria’s capital market ecosystem.

Reps committee faults regulators as Billy gas seepage persists for eight months

The House of Representatives Committee on the South South Development Commission on Thursday berated the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the National Oil Spill Detection and Response Agency (NOSDRA) over what lawmakers described as their slow response to the prolonged gas seepage in Billy Community, Degema Local Government Area of Rivers State, saying residents have been exposed to an environmental and public health emergency for nearly eight months.

At an investigative hearing in Abuja, members of the committee demanded explanations from officials of both agencies over the lingering incident, which community members say has polluted the air, contaminated water sources, disrupted economic activities and exposed residents to serious health and safety risks.

The investigation followed mounting concerns over reports that gas has continued to escape from the ground in the riverine community since late 2025. Residents have alleged that the emissions have rendered boreholes unsafe, crippled fishing and farming, the mainstay of the local economy, and forced families to live in fear of possible explosions and long-term health consequences.

Lawmakers also expressed disappointment over the absence of critical stakeholders at the hearing, including the Nigerian National Petroleum Company Limited (NNPC Ltd), NNPC Exploration and Production Limited (NEPL), the Rivers State Government, the state’s Ministries of Environment and Health, and the chairman of Degema Local Government Area.

They argued that the failure of those organisations and officials to honour the invitation deprived the committee of vital information on emergency response measures, remediation efforts and support provided to affected residents.

While declaring the hearing open, Chairman of the Committee, Hon. Julius Pondi, said that the exercise was in line with the House’s oversight powers under Sections 88 and 89 of the 1999 Constitution (as amended).

According to him, the objective was to establish the facts surrounding the gas seepage, evaluate the actions taken by regulators and industry operators, and assess the environmental, health and socio-economic consequences of the incident.

‘The committee considered it necessary to invite all relevant stakeholders because of the grave environmental, public health, socio-economic and ecological implications of the incident for the people of Billy Community and the wider South South region,’ Pondi said.

He observed that Billy Community relies heavily on fishing, farming and other natural resource-based livelihoods, making the impact of the incident especially devastating.

According to him, ‘as representatives of the Nigerian people, we have a duty to ensure that operators in the oil and gas industry conduct their activities in accordance with extant laws, government regulations and international best practices, while ensuring that host communities are adequately protected from avoidable environmental and safety hazards.’

Hon. Pondi said that the investigation would seek to establish both the immediate and underlying causes of the incident, examine the adequacy of emergency interventions, evaluate remediation efforts and determine the wider socio-economic effects on the community.

According to him, ‘I wish to emphasise that this committee approaches this engagement with an open mind. Our objective is neither to prejudge any individual or institution nor apportion blame without due process. Rather, we seek to establish the facts, identify operational or regulatory shortcomings where they exist, and make practical recommendations that will strengthen environmental governance and improve regulatory oversight.’

The hearing became heated when lawmakers pressed NOSDRA officials on why the incident, first reported in October 2025, remained unresolved months later.

Speaking for the Director-General and Chief Executive Officer of NOSDRA, Engr. Chukwuemeka Woke, Mr Cytrus Nkangwung said the agency formally received notification of the incident on November 25, 2025, after initial reports of gas bubbling emerged earlier in October, and immediately commenced investigations with relevant stakeholders.

He explained that the incident differed from conventional oil spills because the gas was escaping naturally from the ground and surrounding water bodies rather than from any known petroleum installation.

Responding to questions from lawmakers, the agency’s zonal head, Mr Augustine Bello, said:

‘This incident is not the regular incident that attracts reporting. It is not a leak from any facility. It is gas bubbling that enveloped the community. When we became aware of it, we reached out to stakeholders within the community. It is different from a conventional oil spill.’

His explanation failed to convince members of the committee.

Chairman of the House Committee on Host Communities, Hon. Dumnamene Robinson Dekor, criticised the regulators for failing to determine the cause of the incident several months after it began.

‘I feel sad sitting here listening to what you are telling us today. Gas bubbling from the ground, and after all these months, you are still telling us you do not know the cause,’ he said.

‘Today is a black day in the history of Nigeria that people’s lives could be on the line for this number of months and nothing has been done about it. You sit here suggesting to us that you do not even know what is responsible for it.

‘It is a huge shame that people’s lives are at risk. Do you know how many people have died? Their livelihoods have been destroyed, yet nobody seems to care.’

The lawmakers also sought explanations for the apparent lack of emergency relief for the affected community.

‘What happened to the people of Billy?’ Pondi asked, questioning why residents had continued to breathe polluted air and rely on contaminated water while investigations dragged on.

Dekor also condemned the absence of major industry operators at the hearing and urged the committee to compel them to appear before lawmakers.

‘I want to suggest that we compel all these agencies to appear before this committee. Something must be done. People should not die simply because they live in oil-producing communities.’

Members further questioned why NOSDRA requested a N3.4 billion presidential intervention fund despite investigations still being underway.

Bello explained that the proposed funding was intended to finance emergency containment measures, environmental assessments and humanitarian interventions pending the outcome of comprehensive investigations.

Responding to the concerns raised by lawmakers, NUPRC maintained that investigations carried out so far had not established any connection between the gas seepage and existing oil and gas facilities.

Leading the commission’s delegation, Director of Development and Production, Joseph Olawole Ogunsola, said preliminary scientific findings suggested that the gas was naturally migrating from deep underground formations through boreholes and groundwater pathways.

‘The result of our evaluation indicates that there is no relationship between any pipeline or facility and the character of the gas seepage. Scientific evidence available to us presently points to a subsurface occurrence rather than a failure of surface infrastructure,’ he said.

Ogunsola admitted that the community had suffered significant environmental damage, loss of livelihoods and health concerns.

‘Billy Community is severely affected. The water is contaminated, there are reports of air pollution and there are safety concerns,’ he stated.

He said the commission had adopted a dual approach involving scientific investigations and humanitarian support.

According to him, relief materials had already been delivered through an industry-backed intervention, while arrangements were being concluded for a medical outreach programme and the supply of potable water to residents.

‘The Commission Chief Executive mobilised the industry because no operator has been found culpable. Nevertheless, we agreed that the industry must rally round and support the people of Billy while investigations continue.

‘There is also a planned medical outreach in the next two weeks, while hydrological studies are ongoing to determine how best to provide uncontaminated potable water to the community.’

On the possibility of relocating residents, Ogunsola said the commission had advised relevant authorities to consider a managed evacuation based on the outcome of health and risk assessments.

‘We cannot today determine the full extent of the impact of this seepage. Laboratory analysis shows there are gases that should not ordinarily be inhaled. Government should therefore consider managed evacuation of the affected residents following an appropriate health and risk assessment.’

Lawmakers maintained that allowing the incident to persist for months exposed significant weaknesses in Nigeria’s environmental regulatory system and warned that further delays in addressing the crisis would be unacceptable.

First reported in late 2025, the Billy gas seepage has emerged as one of the country’s most unusual environmental incidents. Unlike conventional oil spills caused by damaged pipelines or petroleum facilities, preliminary scientific investigations indicate that the emissions may be naturally migrating from deep underground formations.

The committee directed all absent government agencies and industry operators to appear before it at a subsequent hearing, insisting that uncertainty over the source of the seepage must not delay urgent action to protect residents, provide humanitarian support and strengthen public confidence in environmental regulation.

KolaDaisi University reappoints Adetu as registrar

The Governing Council of KolaDaisi University, Ibadan, has approved the reappointment of Mr Haruna Olawale Adetu as registrar and secretary to the council of the university. The reappointment will take effect from October 1.

The decision was ratified at the governing council meeting held on July 23, following a comprehensive appraisal of Mr. Adetu’s outstanding service, professionalism, and significant contributions to the growth, stability, and effective administration of the university since he assumed office in October 2022.

Mr Adetu is widely regarded as one of Nigeria’s accomplished university administrators, renowned for his administrative competence, sound understanding of university governance, and unwavering commitment to due process, institutional excellence, and good governance.

Since assuming office as registrar, he has played a pivotal role in policy formulation and implementation while ensuring the efficient coordination of the university’s academic and administrative activities. His leadership has contributed significantly to strengthening institutional processes and enhancing operational efficiency.

Before joining the university, Mr Adetu served in various administrative capacities at Lagos State University (LASU), Ojo. In 2007, he joined Osun State University (UNIOSUN), Osogbo, where he distinguished himself in several strategic positions, including college secretary, College of Science, Engineering and Technology, and secretary of the Postgraduate College. He also served in other key administrative roles within the university.

In addition, Mr Adetu served as a member of the Governing Council of Osun State University and the Board of the Global Affairs and Sustainable Development Institute (GASDI), contributing to institutional governance and strategic development.

Mr Adetu holds a Bachelor of Science (B.Sc.) degree in Economics Education, a Master of Science (M.Sc.) in Economics, and a Master of Science (M.Sc.) in Business Administration, with a specialisation in International Business, all from Lagos State University, Ojo, Lagos.

A member of several professional bodies, Mr Adetu has also participated in numerous local and international conferences, seminars, and professional development workshops, reflecting his commitment to continuous learning and excellence in university administration.

Extend scholarship to tutorial centre students, stakeholders urge FG

Education stakeholders have called on the federal and state governments to extend scholarship and educational support programmes to students enrolled in accredited tutorial and pre-varsity centres, saying such institutions have become an important part of Nigeria’s education system by preparing candidates for admission into tertiary institutions.

The appeal followed the release of the 2026 Unified Tertiary Matriculation Examination (UTME) results, with stakeholders arguing that many outstanding candidates, who pass through tutorial centres, are often excluded from government scholarship schemes, and other educational interventions.

Speaking in Ibadan, the proprietor of a leading pre-varsity institution, Mr. Akeem Odebode, said tutorial centres have continued to bridge learning gaps and improve students’ chances of securing admission into higher institutions through intensive academic preparation and mentorship

He noted that despite producing candidates with outstanding performances in UTME and post-UTME examinations over the years, tutorial centres receive little recognition in government education support programmes.

He said extending scholarship opportunities to students in accredited tutorial centres would ease the financial burden on parents, encourage academic excellence, and provide equal opportunities for brilliant candidates seeking admission into tertiary institutions.

‘Our vision is not only to help students secure admission but to prepare them to compete successfully in the university through quality teaching, robust learning materials, and mentorship,’ he said.

Some high-scoring candidates also attributed their success in the 2026 UTME to the academic support and mentoring they received during their preparation.

One of the candidates, Foloshale Tijesufemi, who scored above 300, said the programme improved both her academic performance and confidence, adding that regular mentoring helped her remain focused on her studies.

Another candidate, Bankole Josiah, who scored 348, said he initially underestimated the institution because of its physical appearance but later discovered that the quality of teaching was exceptional.

‘From my first English class, I realised there were techniques I had never been taught before. Every class exposed me to new knowledge and improved my understanding,’ he said.

Similarly, Oluwasegun Samuel, who also scored 356, said the academic training and personalised attention he received contributed significantly to his performance in the examination.

The stakeholders maintained that as governments continue to reward exceptional academic performance through scholarships and other incentives, students in accredited tutorial and pre-varsity centres should not be excluded solely because they are outside the conventional secondary school system.

They added that greater collaboration between governments and accredited tutorial institutions would improve learning outcomes, expand access to higher education, and contribute to national educational development.

Farmers allege disappearance of 8,000 bags of Tinubu fertiliser in Taraba

No fewer than 8,000 bags of fertiliser allocated to the Taraba State Government under President Bola Ahmed Tinubu’s Fertiliser Input Support Programme are unaccounted for, The Nation has learnt.

President Tinubu announced in July 2026 the procurement of 449,000 metric tonnes of fertiliser to enhance food security nationwide.

Taraba State received 20,000 bags of NPK and Urea under the programme in the early days of the month.

Of the allocation, 12,000 bags were handed to the Taraba State chapter of the All Farmers Association of Nigeria (AFAN) for distribution to its members, while 8,000 bags were released to the state Ministry of Agriculture and Food Security for onward distribution to cooperatives and organised farmers.

The Director of the Federal Ministry of Agriculture and Food Security in Taraba State, Mr Luka Dabut, confirmed that the ministry received and handed over the 8,000 bags to the state government.

‘The federal ministry received a total of 8,000 bags of NPK and Urea for the Taraba State Government. The commodity was brought in during my predecessor’s tenure. On my arrival, I found them in our store under safe custody,’ Dabut told The Nation in Jalingo.

‘Within a short time, the Federal Government engaged a consultant to process the distribution. I engaged the Taraba State Ministry of Agriculture. The Permanent Secretary, directors, DSS and other security agencies were present. We successfully handed over the 8,000 bags to the state ministry. Not a single bag was left in our store,’ he added.

However, the Taraba State Commissioner for Agriculture and Food Security, Prof. Nicholas Namessan, denied that the ministry took custody of the fertiliser.

Responding to an enquiry on the whereabouts of the 8,000 bags, the commissioner said in a text message, ‘There’s a Federal Ministry of Agriculture and Food Security in Taraba State. They handled the distribution by themselves.’

Meanwhile, AFAN was observed distributing the 12,000 bags allocated to it at the Veterinary Warehouse opposite the Christian Centre along FGGC Road in Jalingo.

However, farmers who were expected to benefit from the 8,000 bags allocated to the state government said no such distribution had taken place.

They called on security agencies, the Presidency and Governor Agbu Kefas to investigate the matter and establish what happened to the fertiliser.

One farmer, who spoke on condition of anonymity, said: ‘The President’s gesture is to help us farm this season. If 8,000 bags have disappeared, then our food security is in danger.’

As of press time, the Taraba State Ministry of Agriculture and Food Security had not made public any distribution list or beneficiary register for the 8,000 bags.

Glencore’s first-half trading profit surpasses entire 2025 earnings on US-Iran conflict

Global commodities trader Glencore expects its marketing division to post an adjusted earnings before interest and tax (EBIT) of $3.3 billion for the first half of 2026, surpassing the unit’s earnings for the entire 2025 as heightened volatility triggered by the US-Iran conflict created lucrative trading opportunities across global energy markets.

The Swiss-based trading giant disclosed the outlook in its half-year production report released on Wednesday, citing that the expected first-half marketing performance reflects strong trading conditions during a period of exceptional volatility.

Glencore is due to publish its detailed half-year financial results next week, when it is expected to provide a breakdown of contributions from its oil, gas and other commodity trading businesses.

Gary Nagle, Chief Executive Officer, said the company delivered a strong operational performance during the first six months of the year while also benefiting from robust conditions in its marketing business.

‘In our Marketing segment, we expect to report a strong half-year Marketing Adjusted EBIT of c.$3.3 billion,’ Nagle said.

The projected profit is already higher than the $2.9 billion adjusted EBIT recorded by Glencore’s marketing division for the entire 2025 financial year, putting the company on course for one of its strongest trading performances on record if current market conditions persist.

The windfall follows months of sharp swings in crude oil, liquefied natural gas (LNG) and refined fuel prices after renewed hostilities between the United States and Iran disrupted shipping through the Strait of Hormuz and later spread to the Red Sea.

Those geopolitical tensions pushed Brent crude above $100 per barrel at their peak, creating significant arbitrage and trading opportunities for global commodity merchants.

The performance mirrors Glencore’s record earnings in 2022, when Russia’s invasion of Ukraine sent oil prices soaring above $120 per barrel and upended global energy flows.

That year, the company’s marketing division generated a record $6.4 billion in adjusted EBIT, driven by successful trading across crude oil, LNG, refined products, coal and logistics infrastructure.

The latest outlook highlights how periods of geopolitical disruption can significantly boost the earnings of commodity trading houses, whose global networks enable them to profit from price dislocations, regional supply imbalances and heightened market volatility.

Glencore is not alone in benefiting from the market turbulence. Integrated energy majors with large trading operations have also reported stronger trading conditions. Shell has already indicated that it expects significantly higher oil and LNG trading earnings in the second quarter as volatility linked to the Iran conflict reshaped global energy markets.

Beyond its trading business, Glencore also reported solid production performance across several key commodities during the first half of the year.

Nagle said production from the company’s own assets was broadly in line with expectations, with quarter-on-quarter increases in zinc, nickel, gold, steelmaking coal, and energy coal output. Meanwhile, full-year production guidance for copper, zinc, and nickel remains unchanged.

Muhoozi rallies African military chiefs as UN cuts threaten Somalia peace mission

Uganda’s Chief of Defence Forces (CDF), General Muhoozi Kainerugaba, has called on regional military leaders to unite, innovate, and demonstrate unwavering resolve to safeguard peacekeeping operations in Somalia as the mission faces shrinking international funding and a changing diplomatic landscape.

Speaking on Wednesday at the opening of the Extraordinary Meeting of Chiefs of Defence Forces from Troop-Contributing Countries (TCCs) to the African Union Support and Stabilization Mission in Somalia (AUSSOM) at Speke Resort Munyonyo, Gen. Kainerugaba warned that tightening financial constraints are already undermining frontline operations.

“These are difficult circumstances, but they also call for our unity, creativity, and resolve,” Gen. Kainerugaba told regional military chiefs. “The future of our mission, and the sacrifice and progress we have all made together in Somalia, depend on the quality of the decisions we make at moments like this.”

The high-level military gathering comes at a critical juncture as the United Nations Support Office in Somalia (UNSOS) prepares to wrap up its logistical operations by December 31, 2026. The shift presents a pivotal window for African troop contributors to fast-track self-sustaining, African-led logistical frameworks.

Gen. Kainerugaba revealed that UNSOS has already slashed its financial and operational support to AUSSOM and the United Nations Guard Unit by 25 percent. The reductions have forced frontline commanders to adjust operational priorities, threatening the gains made against the Al-Shabaab insurgency over the last two decades.

Adding to the mission’s uncertainty, the Ugandan army chief highlighted shifting international diplomatic dynamics, noting indications that the United States will not support renewing AUSSOM’s United Nations Security Council mandate if it remains tied to the existing UN support framework.

Against this backdrop, Gen. Kainerugaba emphasized that African nations must shoulder full responsibility to fund and sustain peacebuilding efforts beyond December 2026.

“As Chiefs of Defence Forces, we are responsible for providing clear military guidance and strategic direction at a time when the mission environment is changing,” he stated, urging delegates to approach discussions with frankness and a shared purpose.

The military chiefs’ technical deliberations form the first leg of a crucial three-day regional summit held under the theme, “To Sustain the Stabilization Process in Somalia.” The outcomes will feed into a comprehensive strategic report to be presented to Defence Ministers on July 30, which will guide regional Heads of State during the 15th Extraordinary Summit on July 31.

The summit brings together military delegates, defense ministers, and heads of state from AUSSOM member countries, including Uganda, Burundi, Djibouti, Ethiopia, Egypt, and Kenya, along with host nation Somalia. Uganda was the first nation to deploy troops to Somalia under the original African Union Mission in Somalia (AMISOM) in 2007.

Brig. Gen. Ibrahim Mohamed Mahmoud, Commander of the Somali National Armed Forces, expressed deep gratitude to the peacekeeping forces for their long-standing sacrifices in stabilizing Somalia.

Echoing Gen. Kainerugaba’s stance, the Head of the AU Peace Support Operations Division, Brig. Gen. Cheick Dembele, stressed that unbroken African solidarity remains vital as the African Union continues its commitment to build robust Somali security institutions capable of maintaining lasting peace.