Business

Experts Warn of Catastrophic Environmental Fallout From Iran War

Published

8 months ago

March 16, 2026

The war in Iran is sending shockwaves through global energy markets that will be felt for years to come. The conflict is causing the single biggest oil supply disruption in history, as the closure of the Strait of Hormuz has caused a nine-day disruption of 20 percent of the world’s oil transports, more-than doubling the previous record set during the Suez crisis of 1956. But the war and its energy market impacts represent much more than just economic chaos – they are also the harbingers of serious and lasting human and environmental impact across the region and the world.

The United States and Israel have been targeting Iran’s energy infrastructure in their ongoing attacks, with disastrous results for local lands and people. Monitors have admitted that they are so overwhelmed by the scale and breadth of environmental impacts from the war that they are “struggling to keep track of the environmental disasters arising from the widening war” according to The Guardian. Explosions at oil storage facilities have left fires burning for days as a black rain has fallen over the capital city of Tehran as it chokes on noxious smoke.

“To me, this black rain indicates toxic pollutants such as hydrocarbons, ultrafine particles known as PM2.5, and carcinogenic compounds called polycyclic aromatic hydrocarbons (PAHs) have made their way into the rain,” Gabriel da Silva, Associate Professor of Chemical Engineering at The University of Melbourne, recently wrote for The Conversation. He added that this rain would also include heavy metals and inorganic compounds from all of the buildings and other materials set ablaze by the strikes. The resulting acid rain could be catastrophic for human, animal, and environmental health, experts warn.

While this rain alone is cause for massive concern for Iranians, it’s likely just the tip of the iceberg. “Oil raining down on Tehran is likely only the first tell of the environmental damage – and the impact that that has on people’s health – that the US and Israel’s war will cause,” Global Witness cautioned in a recent report.

Environmental incidents are already widespread across the country. The Conflict and Environment Observatory has assessed 232 incidents for their level of environmental risk, and has flagged three types of emerging environmental harm: pollution from the destruction of military sites, marine pollution from the destruction of oil infrastructure along the Gulf coast, and the destruction of inland fossil fuel infrastructure.

There is also cause for concern about potential damage to Iran’s nuclear power infrastructure, and all of the associated environmental and health risks that would come along with such damage. In last year’s 12 days of war between Iran and Israel, there was considerable concern about lasting impacts of irradiation on the lands and soils near attacked nuclear power plants and nuclear enrichment sites.

“I want to make it absolutely and completely clear, [in] case of an attack on [a nuclear power plant], a direct hit could result in a very high release of radioactivity to the environment,” Rafael Mariono Grossi, director general of the International Atomic Energy Agency (IAEA), warned in a June 23 statement about the war between Iran and Israel.

But even the missiles that didn’t hit nuclear sites carry serious environmental and public health hazards, as aerial attacks and the fires they create release huge amounts of toxic pollutants that end up in soil and groundwater. “This has been an issue that is concerning in the Middle East, and some of these impacts are even transboundary and trans generational,” Kaveh Madani, director of the United Nations University Institute for Water, Environment and Health, told the Bulletin of the Atomic Scientists last year. “So, the war might be over, but these impacts would remain there.”

The Conflict and Environment Observatory also warns that there will be new forms of environmental fallout as the war drags on. In addition to the threat of nuclear irradiation, the watchdog warns that Israel and the United States may also target desalination plants, gravely impacting the availability of freshwater and potentially unleashing sodium hypochlorite, ferric chloride and sulfuric acid into the environment. The organization also warns that Iranian environmental governance, already weak, will all but collapse under this new stress.

In addition to the risks imposed by direct attacks on energy infrastructure, the war also poses a major threat to the climate. Wars are huge contributors to climate change. The greenhouse gas emissions associated with Russia’s war in Ukraine, for example, reached levels comparable with the entire annual emissions of France in just the first two years, according to a report from a Ukrainian watchdog organization.

By Haley Zaremba

Business

Nigeria Loses N17tr Yearly To Abandoned Projects

Published

2 days ago

November 9, 2026

The Tide

The Federal Government has disclosed that it has lost an estimated N17 trillion to abandoned and uncompleted projects across the country.

The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).

He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.

Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services

He cited examples of that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.

The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.

He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.

Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.

He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.

The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.

He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.

Business

Transcorp Power seeks sustained investment across Nigeria’s electricity value chain

Published

2 days ago

November 9, 2026

The Tide

Transcorp Power Plc Managing Director and Chief Executive Officer Peter Ikenga has called for sustained investment across Nigeria’s electricity value chain to improve power supply and make the sector self-sustaining.

Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.

He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.

The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.

“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.

Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.

He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.

He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.

The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.

Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.

On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.

He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.

Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.

“Everything in the value chain has to work,” he said.

He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.

Business

FG generates N33tn revenue in 10 months – Oyedele

Published

2 days ago

November 9, 2026

The Tide

The Federal Government generated a record of N33tn in revenue between January and October 2026, with improvements in digital tax administration and electronic invoicing boosting collections.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed

this while delivering the convocation lecture at the University of Uyo, Akwa Ibom State, where he called for greater investment in Nigeria’s digital infrastructure to strengthen economic competitiveness and government revenue mobilisation.

This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.

The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of N33tn in government revenue collected between January and October 2026.”

The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.

Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.

Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.

He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.

However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.

According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.

He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.

The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.

He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.

Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.

He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.

The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.

Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.

“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.