At age 15, I got my second-ever job as a cashier at a fast-food restaurant. I hated clocking in every day — the thick smell of burgers and old frying oil made me sick, and customers were often rude, especially during the lunch rush and at the drive-thru. That made it difficult to apply myself. 
But Indeed CEO Chris Hyams says even a fast-food cashier role can be fulfilling if you have the right attitude.
Growing up, his grandfather gave him a cardinal piece of career advice that he still holds on to today: “Every job is the most important job in the world, and you should treat every job as if it’s the most important job in the world.”
After graduating college, Hyams worked with young addicts and alcoholics in a Los Angeles psychiatric hospital. He later moved to Vermont and couldn’t find another role in the recovery industry, so he spent two years teaching special education at a public high school, he says. 
Hyams tried multiple other jobs, too. He worked full-time at his grandpa’s small production business while being a drummer in five bands on the side. “Tried to become a rockstar. Failed. Would do it all over again,” Hyams’ LinkedIn profile currently reads.
He went back to school, getting a master’s degree in computer science, and worked as a software developer at a tech company called Trilogy — where he rose to become vice president of product development, according to his LinkedIn profile. He launched and shuttered a tech startup before landing another VP role at Indeed in 2010.
″[My grandfather] told my brothers and I, at a very young age, that work is a sacred thing. ... It’s more than a paycheck,” Hyams says. “It’s where you find meaning and purpose in your life. ... It doesn’t matter if you’re an astronaut or sweeping the floor at NASA. [Work] is where we get pride and dignity.”
Looking back on that fast-food job, I can honestly say it wasn’t all bad. I was friendly with a lot of my coworkers and had a couple of regulars who I’d chat with on Saturday mornings as they sipped their coffee. I took pride in being the go-to ice cream cone maker.
Perhaps if I focused on those positives a bit more, I’d have been able to put the same effort into my job that Hyams puts into his, and I may have actually enjoyed coming to work.

CNBC

The Nigerian stock market closed February 2025 on a positive note, with the All-Share Index rising 3.18% to reach 107,821.39 points by month-end, up from 104,496.12 points at the beginning of the month. This gain was driven primarily by steady performance in mid-cap stocks.

Despite the index growth, trading volume declined to 9.2 billion shares, representing a 27.30% decrease from January's 12.6 billion shares. Market capitalization, however, showed robust growth, increasing from N64.7 trillion to N67.1 trillion during the month.

Market Performance

The market maintained positive momentum throughout most of February, with the All-Share Index surging above 108,000 points in the second week. After moderate gains in the third week, the index retreated slightly in the final week, closing at 107,821 points.

Key Highlights

The NGX Premium Index recorded a notable 7.43% gain, boosted by DANGOTE CEMENT's impressive 20%+ increase, alongside smaller advances in LAFARGE and MTNN. The NGX 30 Index also posted a 1.55% increase.

Sectorial Performance

The Industrial Goods Index emerged as the standout performer, climbing 10% on the back of substantial gains in DANGOTE CEMENT and BETAGLASS. The Consumer Goods Index also performed well, rising by 1.70%.

In contrast, the Oil & Gas Index declined by 4%, dragged down by OANDO's 15.13% drop. The Banking and Insurance sectors also fell, slipping by 2.07% and 0.87% respectively.

Top Gainers

PZ CUSSONS led the gainers with a remarkable 53.91% increase, closely followed by UPDC at 53.48%. Other significant gainers included ETERNA (52.17%), HONEYWELL FLOUR MILLS (43.00%), and LIVESTOCK (40.19%).

Top Losers

UNION DICON SALT topped the losers' list with a 28% decline, matched by LEARN AFRICA's identical 28% drop. Other notable decliners included EUNISELL INTERLINKED (27%), UNIVERSITY PRESS (18.75%), and DARRCOMM (17.95%).​​​​​​​​​​​​​​​​

Former Imo State Governor Achike Udenwa has claimed that Nigerian elections are heavily influenced by money, suggesting that those with sufficient financial resources can secure electoral victory. Udenwa, who served as Imo State's governor from 1999 to 2007, made these remarks during an appearance on State Affairs, a podcast hosted by popular On-Air Personality Edmund Obilo.

Expressing concern over the role of money in Nigeria's electoral process, Udenwa criticized the declining moral standards in the country's political landscape. He lamented that voters no longer prioritize a candidate's track record, character, or capabilities. "If you say 'vote for me,' people no longer ask what you can do, what your antecedents are, or what kind of character you have. These questions are no longer considered," he said.

Udenwa went further to assert that even if voters do not support a candidate, money can still ensure victory. "If you have the right amount of money, you can buy your way through," he stated. When asked whether politicians could influence institutions like the Independent National Electoral Commission (INEC), the police, the army, and even the electorate, Udenwa responded bluntly, "You can buy everybody."

A member of the Peoples Democratic Party (PDP) Board of Trustees, Udenwa also accused the ruling All Progressives Congress (APC) of exacerbating the internal crisis within the PDP. While acknowledging that the PDP faces its own challenges, he claimed that external forces are actively working to destabilize the party. "There are external hands trying to destroy the PDP through internal sources. We are still battling this problem, but I believe the PDP will not be destroyed," he said.

Udenwa's comments highlight growing concerns about the integrity of Nigeria's electoral system and the influence of money in politics.

In a daring early-morning raid, gunmen masquerading as Economic and Financial Crimes Commission (EFCC) operatives abducted ten individuals from White Hill Hotel on Shiroro Road in Chanchaga Local Government Area, Niger State. The incident, reported by Zagazola Makama—a publication specializing in counter-insurgency in the Lake Chad region—took place at approximately 4:58 a.m. on February 27.

According to the report, the assailants, dressed as EFCC officials conducting an authorized operation, stormed the hotel and disabled its CCTV surveillance system. They then systematically entered guests’ rooms, abducting ten people and fleeing to an undisclosed location.

Makama quoted authorities urging the public to remain vigilant and report any suspicious activity, while efforts are underway to uncover the details of the incident. The assistant commissioner of police from the State Intelligence Department confirmed to the publication that an investigation has been launched to identify the culprits and rescue the victims.

Guinea-Bissau's President Umaro Sissoco Embalo threatened to expel a political mission sent to his country by the Economic Community of West Africa States (ECOWAS), the political and economic bloc said on Sunday.

A dispute over when Embalo's presidential term, which began in 2020, should end has heightened tensions that risk unrest in a nation with a history of military coups.

The tiny West African nation's political opposition says Embalo's term should have expired last week, while the Supreme Court of Justice has ruled that it ends on September 4.

Embalo, who chaired ECOWAS from mid-2022 to mid-2023, said on February 23 that presidential and legislative elections would not be held until November 30.

ECOWAS said in a statement on Sunday it had deployed a mission from February 21 to 28 together with the United Nations Office for West Africa and the Sahel (UNOWAS) to help reach a consensus on how to conduct an election this year.

But it added: "The Mission departed Bissau in the early morning of 1st March, following threats by Umaro Sissoco Embalo to expel it."

On Wednesday, Embalo visited Moscow for talks with Russian President Vladimir Putin. Guinea-Bissau is a former Portuguese colony that gained independence in 1974.

Reuters

Egypt says Gaza reconstruction plan ready, pushes efforts for ceasefire's second phase

Egyptian Foreign Minister Badr Abdelatty said on Sunday that Egypt's Gazareconstruction plan, which ensures Palestinians remain in their land, is ready and will be presented at an emergency Arab summit in Cairo on Tuesday.

Arab states, which were swift to reject President Donald Trump's plan for the U.S. to take control of Gaza and resettle Palestinians, are scrambling to agree on a diplomatic offensive to counter the idea.

Trump's plan, announced on February 4 amid a fragile ceasefire between Israel and Hamas, appeared to back away from longstanding U.S. Middle East policy focused on a two-state solution and sparked anger among Palestinians and Arab nations.

Abdelatty said Egypt would seek international backing and funding for the plan and emphasised Europe's crucial role, particularly in the financing of Gaza's reconstruction.

"We will hold intensive talks with major donor countries once the plan is adopted at the upcoming Arab Summit," he said in a press conference with the EU Commissioner for the Mediterranean, Dubravka Suica.

Israel on Sunday blocked the entry of aid trucks into Gaza as a standoff over the truce that has halted fighting for the past six weeks escalated. Abdelatty said the use of aid as a weapon of collective punishment could not be permitted.

The first phase of the fragile ceasefire agreement expired this weekend. Abdelatty reaffirmed Egypt's commitment to the originally agreed ceasefire that had been scheduled to move into a second phase. "It will be difficult, but with goodwill and political determination, it can be achieved," he said.

Israeli Prime Minister Benjamin Netanyahu's office said earlier that it had adopted a U.S. proposal for a temporary ceasefire in Gaza for the Ramadan and Passover periods.

Abdelatty said after Tuesday's summit, foreign ministers of member states of the Organisation of Islamic Cooperation would hold an urgent meeting in Saudi Arabia to discuss how to present the plans.

"We will ensure that the results of the Arab summit are presented to the world in the best possible way," he said.

Reuters

 WESTERN PERSPECTIVE

UK, European leaders join forces to draft Ukraine peace plan to take to US

British Prime Minister Keir Starmer said on Sunday European leaders had agreed to draw up a Ukraine peace plan to present to the United States, a vital step for Washington to be able to offer security guarantees that Kyiv says are essential to deter Russia.

At a summit in London just two days after Volodymyr Zelenskiy clashed with U.S. President Donald Trump and cut short a visit to Washington, European leaders offered a strong show of support to the Ukrainian president and promised to do more to help his nation.

European leaders agreed they must spend more on defence to show Trump the continent can protect itself, and the European Commission chief suggested the bloc could ease rules that limit debt levels.

Starmer, who welcomed a visibly shaken Zelenskiy on Saturday with a warm hug, said Britain, Ukraine, France and some other nations would form a "coalition of the willing" and draw up a peace plan to take to Trump.

"This is not a moment for more talk. It's time to act. Time to step up and lead and to unite around a new plan for a just and enduring peace," Starmer said.

Leaders did not provide details of their plan. Before the summit, French President Emmanuel Macron told newspaper Le Figaro that the plan would involve a one-month ceasefire that would apply to air and sea attacks but not to ground combat.

European troops would be deployed if a more substantial peace agreement was reached, he said. It was not clear whether other nations had agreed to the terms.

Zelenskiy told reporters that Ukraine would not cede any territory to Russia as part of a peace agreement and said he was still willing to sign a minerals deal with the United States.

Zelenskiy said he believed he could salvage his relationship with Trump after Friday's shouting match, but that talks would have to take place behind closed doors.

"The format of what happened, I don't think it brought something positive or additional to us as partners," he said.

Europe is scrambling to ensure that Kyiv is not squeezed out of any talks after the Oval Office clash raised fears that the U.S. could pull support for Ukraine and impose a peace plan negotiated with Russia.

Several European leaders said they must increase defence spending - something that could help bring Trump on side to offer a U.S. security guarantee in the event of peace.

"After a long time of underinvestment, it is now of utmost importance to step up the defence investment for a prolonged period of time," Ursula von der Leyen, president of the European Commission, the EU's executive body, told reporters.

Europe needs to turn "Ukraine into a steel porcupine that is indigestible for potential invaders," she said.

LACKING WEAPONRY, STOCKS

Europe, which lacks the weaponry and depth of ammunition stocks of the U.S., hopes to convince Trump that it can defend itself but that Russia will only adhere to a peace deal if it comes with the backing of the United States.

Talks with the U.S. have centred on Washington providing a so-called backstop for a European peacekeeping role, possibly in the form of air cover, intelligence and surveillance and a greater but unspecified threat if Russian President Vladimir Putin again sought to take more territory.

Crucial to getting any agreement from Trump is for European nations to increase defence spending and signal they would take part in any peacekeeping role - something Starmer acknowledged was difficult to get unanimity on.

Starmer increased the UK's defence spending before his visit to Washington last week, and NATO Secretary General Mark Rutte said some European leaders had privately set out new plans on defence spending at the meeting but he declined to give details.

'UNCOMFORTABLE VIEWING'

Trump has upended U.S. policy on the three-year-old war since he returned to the White House in January, casting doubt on U.S. military and political support for Ukraine - and Europe - and ending the isolation of Moscow.

"We should spend less time worrying about Putin, and more time worrying about migrant rape gangs, drug lords, murderers, and people from mental institutions entering our Country - So that we don't end up like Europe!" Trump said in a post on his Truth Social network late on Sunday.

Trump had blindsided Europe by calling Putin without warning and sending a delegation to Saudi Arabia for talks with Russia without including Ukraine or Europe. Trump criticised Zelenskiy for not being grateful for U.S. aid.

Zelenskiy's clash with Trump ended a week when Europe had appeared to be in a better position in its drive to encourage Trump to continue to offer support to Ukraine after cordial visits to Washington by Macron and Starmer.

Starmer described watching the spat between Zelenskiy and Trump in the Oval Office as uncomfortable viewing, but he was keen to push the conversation forward by offering himself as a go-between for Europe and the United States.

In a further show of support for the Ukrainian leader, Zelenskiy later on Sunday flew to meet King Charles at his private residence in eastern England.

The Trump administration on Sunday continued to criticise Zelenskiy. White House national security adviser Mike Waltz told CNN that the U.S. needs a Ukrainian leader who is willing to secure a lasting peace with Russia, but that it is not clear Zelenskiy is prepared to do so.

Russian Foreign Minister Sergei Lavrov praised Trump's "common sense" approach and accused European countries of seeking to prolong the conflict by propping up Zelenskiy "with their bayonets in the form of peacekeeping units".

Starmer said the leaders on Sunday also agreed to work to ensure Kyiv is at the table of any peace talks and boost the country's own defence capabilities.

"Europe must do the heavy lifting, but to support peace in our continent and to succeed, this effort must have strong U.S. backing," Starmer told a news conference.

RUSSIAN PERSPECTIVE

UK, Canada, Germany supply the deadliest weapons to Ukrainian Armed Forces

The Armed Forces of Ukraine receive their most lethal weapons from the UK, Canada, Germany, and Italy, Chairman of Russia’s Investigative Committee Alexander Bastrykin said in an interview with TASS.

"Together with the Ministry of Defense, we are documenting the facts of the supply of foreign weapons and other equipment. Moreover, the most lethal weapons are supplied by the UK, Canada, Italy, Germany, Romania, Estonia, and a number of other countries," he said.

According to Bastrykin, Storm Shadow cruise missiles, artillery shells and mounts, tank shells, mortar rounds, aerial bombs, and cartridges are being supplied from Europe. In addition, the Ukrainian Armed Forces receive drones, which are widely used not only in combat operations, but also in attacks on civilian infrastructure.

Reuters/Tass

Comprising five of the country’s 36 states, South-East Nigeria is the site of resilient atrocity. In the eight years from the middle of 2015 to the end of 2023, the monitoring coalition, Nigeria Mourns, confirmed about 3,000 killings in this theatre from open source records but unofficial estimates suggest that there may be up to five killings missed for each counted. The worst of the killings have occurred since 2019 and the worst hit state in the zone over that period is Anambra.

Many erroneously date the origins of this to the radicalisation of the Indigenous People of Biafra (IPOB) in the aftermath of its proscription in 2017. In reality, the escalation has lasted for over a quarter of a century dating back approximately to the assassination in Enugu in 1998 of Igwe Amobi IV of Ogidi.

The annual Conflict Barometer by the Heidelberg Institute for International Conflict Research identifies the South-East as one of eight different conflicts of concern in Nigeria, describing it as a “violent crisis of secession” and ranks it on a par with the crisis of armed pastoralism in the Middle Belt of the country; ahead of the crisis of resource militancy in the Niger Delta; and only below the Boko Haram insurgency in the North-East and the armed bandits in the north-west of Nigeria.

Three framings define the crisis in South-East Nigeria in the popular narrative. One is that it is about secession. A second is that most of the fatal incidents connected with it are perpetrated by “unknown gunmen.” The third is that the response to the situation is predominantly kinetic. Each of these is flawed. Together, they miss the underlying issues, with the result that they have turned an otherwise manageable crisis into an interminable atrocity.

Let’s begin with the first. The simplicity of the secession narrative is appealing at both the emotive and pecuniary levels. The former unites other Nigerians with subliminal appeal against a historical “Igbo question”. The latter enables the managers of expeditionary military deployments in the region to finagle more money for themselves using the excuse of preserving Nigeria’s territorial integrity. This would not be so if the situation were to be understood as a policing preoccupation with crime and criminality.

What’s the reality? IPOB’s business model does not stand a snowball’s chance in hell in any of the truly deadly sites of atrocity in South-East Nigeria. Awkuzu, host to the most horrendous atrocities in the region, is the site of “Nigeria’s most brutal police station” where hundreds, if not more, detainees have been killed extra-judicially. In Obosi, the ancient city on the banks of the Idemili River; and in Awka, the state capital, hundreds of young men routinely exterminate one another in murderous inter-cult and inter-gang warfare. In Ogbaru, located between the banks of Oguta Lake and the floodplains of River Niger, organised gangs mobilise deadly violence in sophisticated operations to rustle hydrocarbons. Lokpanta, the point along the Enugu-Port-Harcourt motorway where all the states of South-East Nigeria come close to sharing common borders is an ungoverned territory where commercial kidnapping meets atrocity liquidation. None of these square with the convenience or simplicity of the secession narrative or with its profitability.

Turning to the second popular narrative about the situation in South-East Nigeria, the mythical “unknown” perpetrator is a figure of considerable antiquity in Nigeria. It has been around since the inconclusive judicial inquiry into the attack on Fela Anikulapo-Kuti’s Kalakuta Republic in February 1977 blamed the incident on the “unknown soldier”. In 2011, the traditional ruler of Ihembosi, a community in Anambra State, was disappeared by “unknown gunmen.” They were also to blame in the violent abduction and subsequent disappearance in May 2014 of Chike Okoli, former Commissioner in the same state.

The legend of the unknown perpetrator in Nigeria has over the years emerged as both metaphor and measure of what is widely seen as state incapacity and leadership indifference to the scourge of impunity in the country. Far from an affirmation of unknown actors, Nigeria’s legend of the unknown perpetrator signposts a sense of popular despondency or loss of belief in the capacity of the state to end impunity for atrocities.

In the face of these tendencies, therefore, the third idea that the country or region can shoot its way out of this crisis is worse than wishful thinking. The complex landscape of drivers and factors in the situation in South-East Nigeria does not lend itself to such over-simplifications. To reprise a useful metaphor, it is more deserving of a scalpel than a hammer.

Over 24 months from 2022 to 2024, Bianca Ojukwu, the current minister of state for Foreign Affairs, and I, led a Truth, Justice and Peace Commission (TJPC) into the causes of the crisis in South-East Nigeria, the perpetrators, the consequences and possible solutions. The Commission met and consulted with hundreds of victims and witnesses, including the security services, community leaders, clergy, politicians, vigilante elements as well as various armed militias in the region.

Two things were evident. One is that the situation in the South-East is fundamentally a crisis of governance and of popular lack of belief in the legitimacy of many in political office in the region. The second is a clear desire on the part of most people to recover their communities and address the tasks of reconstruction and healing from the traumas of the violence.

There are no easy answers to these but there are common threads. Rather perversely, the perpetrators who insist on rendering the region uninhabitable and the security providers who feed the secessionist trope are both engaged in a mutually profitable joint enterprise. Neither wishes insecurity in the South-East to end. This is why the audacity of Governor Chukwuma Charles Soludo in enacting the new Anambra State Homeland Security Law, 2025 is welcome, because it evinces a durable solution to the crisis. The law establishes a complementary security provider for the state called “Agun’echemba” (sentinel at the gate) and launches Udo g’Achi(peace shall reign) targeting atrocity insecurity.

Several aspects of the new law have come under scrutiny. In particular, section 18 which targets transactional ritualism, has drawn attention, with claims that it lacks the clarity required to pass constitutional muster and discriminates against traditional worship. For context, the TJPC, which I led, met twice with Juju priests. Separately, I met privately with some senior exponents of the trade. They were united in acknowledging that some amongst them had chosen to parlay their skills in support of atrocity and insecurity, and made detailed proposals, including asking the government to help root out such practitioners, prohibit infiltration, and regulate and support legitimate practitioners.

The TJPC report diagnosed this phenomenon as “transactional accultism”, which it identified as enabling “violent cultism” and “the crisis of insecurity”. The report argues that this is “a major component of the psychological armor plate of impunity” providing the perpetrators of the violence with deadly rituals which lead them to believe that they have “an aura of both impenetrability to projectiles and invincibility in the field of atrocity, an immense psychological boost in an environment of impunity.”

The law also targets the compounded deficit of legitimate political leadership as an underlying driver of the crisis of insecurity in the region. In 2005, the New Humanitarian reported on the situation in South-East Nigeria that “rigged elections increase disenchantment”, explaining that sympathy for separatism “has been growing since the general elections of April and May 2003, which were marred by widespread allegations of vote rigging.” Office holders who are widely seen as lacking legitimacy are liable to be compromised when confronted with atrocity insecurity. Instead, they get reduced to belligerents instrumentalising the violence, rather than seeking to end it. In this law, Governor Soludo shows he is different.

Above all, this law also addresses the need to rebuild the capacity to administer criminal justice fairly and effectively, beginning with responsible policing; capable magistrates, coroners and the office of the Directorate of Public Prosecutions (DPP). In many states in the region, the police have been rendered destitute of confidence, denuded of the trust of communities. Similarly, most magistrates are desolate and DPP’s offices in the region are unfunded, leaving prosecutorial personnel at the mercy of self-interested parties or of adversaries who threaten them into being ineffectual. The result is that in much of region, all sides glamourise summary, arbitrary or extra-judicial killing as the solution to crime or deviance, disagreement or dissonance.

None of these is easy to implement. As a programme, it confronts organised opposition from those who have profited so far from the over-simplification in a single-narrative of secession that has bedeviled the search for solutions to the situation. This present Government of Anambra State has demonstrated single-mindedness in ending this. For that it deserves support and other states in the region can adapt this model.

President Donald Trump said Sunday the U.S. will create a “crypto strategic reserve” that includes major cryptocurrencies like bitcoin and ethereum—boosting crypto prices—the latest effort by Trump to court the cryptocurrency industry as he’s become a major crypto backer in recent months.

Key Facts

A national crypto reserve will “elevate this critical industry after years of corrupt attacks” Trump said, adding he directed his administration to “move forward on a Crypto Strategic Reserve” that includes cryptocurrencies XRP, solana and ADA.

He then added a second post saying the reserve will “obviously” include bitcoin and ethereum as the “heart of the Reserve,” saying he “loves” the top two cryptocurrencies.

Trump’s announcement Sunday builds on an executive order Trump issued Jan. 23 directing his administration to create a “working group” to propose a regulatory framework on digital assets, which includes evaluating a “national digital asset stockpile.”

What Was The Impact On Crypto Prices?

Bitcoin prices shot up more than 10% from around the time of Trump’s announcement to more than $94,000 early Sunday afternoon, while ethereum prices soared more than 13% from before the announcement to briefly top $2,500 in the early afternoon. Prices for the smaller market cap coins Trump mentioned—XRP, ADA and solana—all spiked at least 20% shortly after Trump’s announcement.

What Would A ‘crypto Strategic Reserve’ Look Like?

It’s still unclear what the final parameters of any crypto stockpile would look like, but Trump’s executive order suggests the reserve would be “potentially derived” from cryptocurrency the federal government has seized “through its law enforcement efforts.” The New York Times noted in January the federal government already has an estimated $19 billion in bitcoin that it’s seized, which it could simply hang on to in order to establish a stockpile. The government has previously periodically sold off its crypto holdings, The Washington Post notes, which has historically then driven down crypto prices, so any efforts to just hold onto that crypto and stockpile it would prevent that from happening. What remains to be seen is whether Trump will also try to acquire significant amounts of new cryptocurrency to stock the reserves, which would likely boost the crypto industry and existing crypto holders—but would also likely require congressional approval, the Times notes.

Chief Critic

While the cryptocurrency industry has cheered news of a national stockpile, some economists have raised concerns about the proposal. They point to cryptocurrency’s volatility, arguing the government purchasing cryptocurrency is a gamble that would primarily benefit existing crypto holders and could ultimately result in billions’ worth of taxpayer money getting wiped out, should the industry take a downturn. “There’s just no discernible logic to do it,” Mark Zandi, the chief economist at Moody’s Analytics, told the Post in November about a national stockpile. “I get why the crypto investor would love it. Other than the crypto investor, I don’t see the value, particularly if taxpayers have to ante up.”

Why Do Crypto Advocates Want A Stockpile?

In addition to boosting the industry through government purchases of crypto and preventing losses from any government sell-offs, cryptocurrency advocates believe a national stockpile would also help shrink the national debt by increasing federal revenue through the growing value of the government’s crypto investments. Sen. Cynthia Loomis, R-Wyo., introduced a bill in July to establish a national bitcoin stockpile in order to use the cryptocurrency as a government “savings technology” and way to “bolster America’s balance sheet,” claiming to the Post the effort would “cut the national debt in half.”

Tangent

One cryptocurrency that Trump’s Sunday announcement didn’t name is tether, which is pegged to the U.S. dollar, though the Post reports the U.S.’ seized cryptocurrency that could be used for a stockpile includes the stablecoin. That’s notable because Trump’s Commerce Secretary Howard Lutnick has ties to tether, with public reporting suggesting Cantor Fitzgerald, which Lutnick long led, helps oversee the cryptocurrency’s portfolio and recently struck a deal that could result in Cantor Fitzgerald getting a 5% ownership stake in tether. Lutnick has resigned from Cantor Fitzgerald and said he will divest from it as a result of his government role, but Democrats have criticized his company’s involvement with tether, with Sen. Elizabeth Warren, D-Mass., writing in a letter to Lutnick she has “serious concern[s]” about his involvement with tether and arguing his role as commerce secretary will put him “in a position to influence policies that may directly or indirectly impact Tether and the entire cryptocurrency industry.” The White House and Commerce Department have not responded to a request for comment about whether Lutnick would be involved with the Crypto Strategic Reserve.

Key Background

Trump became a major cheerleader for the crypto industry ahead of the November election, attracting significant fundraising support from top crypto figures as he announced a suite of friendly proposals that included tackling strict regulations, calling for all remaining bitcoin to be made in the U.S. and pushing for lower interest rates. The then-candidate also pledged to create a national stockpile for crypto, saying in July when he headlined the Bitcoin Conference, “For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin.” Trump even got into the cryptocurrency game himself, creating his own $TRUMP meme coin amid his inauguration. Trump’s Sunday announcement about the national stockpile comes after the president has already courted the crypto industry through other moves in office, creating the position of a “Special Advisor for AI and Crypto”—filled by former PayPal COO David Sacks—rescinding former Biden-era crypto guidance, establishing a working group to come up with how to regulate the crypto industry and appointing well-known crypto backer Paul Atkins to lead the Securities and Exchange Commission.

Forbes

African oil-producing countries have significantly increased their contribution to global oil discoveries, now representing 35% of newly discovered oil reserves in 2024—a substantial increase from just 7% in 2023, according to a new report by S&P Global.

The report, titled "High Impact Wells 2025," reveals that while global discoveries totaled approximately 8.8 billion barrels of oil equivalent (the lowest newly discovered volumes since the 1950s), African basins made notable contributions. The Cote D'Ivoire Basin and Orange Sub-basin alone accounted for 2.9 billion barrels of this total.

"Notably, 60% of offshore Africa's new field wildcats were drilled in frontier or immature basins," the report states. The Southwest African Coastal Basin, particularly the Orange Sub-basin, and the Cote d'Ivoire Basin emerged as major exploration hotspots.

Galp's Mopane 1X discovery in the Orange Sub-basin stands out as the year's largest global find, notable for its location in shallower waters (1,400m shallower than the Venus discovery) with favorable reservoir properties. The basin continues to attract exploration from major players including TotalEnergies and Shell, with further high-impact wells planned for 2025.

Eni's successful Murene 1X well, which made the Calao discovery, represents the third-largest find in the Cote d'Ivoire Basin. "If not for the Orange Sub-basin, the Cote d'Ivoire Basin has been the most prolific African basin since 2021," notes the report.

The findings highlight a growing industry focus on deepwater exploration, with drillers reaching depths of approximately 1,680 meters at the Mopane well and 2,200 meters at the Murene 1X well in Côte d'Ivoire. Ultra-deepwater exploration, exemplified by the Venus 1X well (3,000 meters water depth) and Nigeria's Bonga Oil Field, represents a high-risk but potentially high-reward strategy.

Despite Africa's growing prominence, Nigeria—possessing oil reserves of 37.5 billion barrels—was notably absent from these recent discoveries. However, Shell's planned $5 billion investment in the Bonga North Field and Chevron's discovery of a new oil field in the Meji NW-1 well (with potential for 17,000 barrels per day) suggest Nigeria may rejoin the conversation in coming years.

Looking ahead to 2025, S&P Global projects that the Southwest African Coastal Basin, Central Arabian Province, and Guyana Basin will remain significant players in the exploration landscape. More than 35 high-impact wells are scheduled globally, with Latin America and Africa continuing as key regions of focus.

The OPEC Secretary-General, Haitham Al-Ghais, recently challenged Africa to unlock its proven oil reserves of over 120 billion barrels amid the ongoing energy transition being advocated by Western nations.​​​​​​​​​​​​​​​​