Foreign
AU Condemns Israel’s Recognition Of Somaliland, Reaffirms Unity
The African Union has strongly criticised Israel’s decision to recognise Somaliland, reaffirming its long-standing position that the breakaway region remains part of Somalia.
Israel on Friday became the first country to formally recognise Somaliland, an autonomous region in north-western Somalia that declared independence in 1991 after the collapse of the Somali state. The move has drawn condemnation from the AU and several countries in the region.
In a statement on Friday, the Chairperson of the African Union Commission, Mahmoud Youssouf, stated that the bloc had taken note with deep concern of recent developments relating to Somaliland and rejected any attempt to recognize it as an independent state.
“In this regard, the Chairperson of the Commission unequivocally reaffirms the longstanding and consistent position of the African Union, grounded in the principles enshrined in the Constitutive Act of the African Union, in particular the respect for the intangibility of borders inherited at independence, as affirmed by the 1964 decision of the Organization of African Unity,” the statement read.
Youssouf said he firmly rejected any initiative “aimed at recognizing Somaliland as an independent entity.
“Any attempt to undermine the unity, sovereignty, and territorial integrity of Somalia runs counter to the fundamental principles of the African Union and risks setting a dangerous precedent with far-reaching implications for peace and stability across the continent.”
He added that Somaliland “remains an integral part of the Federal Republic of Somalia,” a position the AU says is shared by its 55 member states.
Somaliland, which has governed most of the territory it claims for over decades, has enjoyed relative peace and stability compared to much of Somalia. However, it has not received international recognition, despite sustained lobbying by its leaders. President Abdirahman Abdullahi has made international recognition a top priority since taking office last year.
Somalia’s federal government condemned Israel’s decision, describing it as an “unlawful step,” and insisted that Somaliland is “an integral, inseparable, and inalienable part” of Somalia.
The move also drew criticism from neighboring countries. Egypt said its foreign minister had spoken with his counterparts in Somalia, Turkey, and Djibouti, and that “they underscored their complete rejection of any unilateral measures that could undermine Somali sovereignty or erode the foundations of stability in the country.”
The AU warned that Israel’s decision risked “setting a dangerous precedent with far-reaching implications for peace and stability across the continent,” noting that many African countries are grappling with their own secessionist movements.
Israeli Prime Minister Benjamin Netanyahu defended the agreement, describing it as part of Israel’s broader diplomatic outreach.
He said the agreement with Somaliland “is in the spirit of the Abraham Accords,” adding: “The State of Israel plans to immediately expand its relations with the Republic of Somaliland through extensive cooperation in the fields of agriculture, health, technology, and economy.”
Netanyahu also invited Abdullahi to visit his office.
Reacting to Israel’s decision, Somaliland’s president hailed it as a major breakthrough. Calling it a “historic moment,” Abdullahi said in a post on X that the agreement marked the beginning of a “strategic partnership.”
Meanwhile, the AFP reported that United States President Donald Trump said Washington had no plans to recognise Somaliland. “Does anyone know what Somaliland is, really?” Mr Trump said.
Foreign
Elon Musk’s Net Worth Surges To $1.3 Trillion As SpaceX Stock Rally Continues
Elon Musk’s wealth jumped by about $165 billion in one day as SpaceX stock surged after its historic stock market debut. SpaceX briefly crossed a $3 trillion valuation, making it one of the world’s most valuable companies and further cementing Musk’s position as the richest person on earth. The company also holds 18,712 bitcoin, while some analysts warn that SpaceX’s rapid rise in value may be difficult to sustain over the long term.
Elon Musk has added an astonishing $165 billion to his personal fortune in just one day, pushing his estimated net worth to around $1.3 trillion after SpaceX shares continued their explosive run on the stock market.
The sharp jump came as SpaceX stock gained nearly 20% during its second full trading session following its historic Nasdaq debut. The rally briefly pushed the company’s market valuation above $3 trillion, cementing its position among the world’s most valuable publicly traded companies.
SpaceX entered the public market under the ticker symbol SPCX after pricing its initial public offering (IPO) at $135 per share. The company raised approximately $75 billion, making it the largest IPO ever recorded. Investor demand was reportedly overwhelming, with orders exceeding $350 billion, nearly four times the amount of stock available.
By Monday’s close, SpaceX shares had climbed as high as $229.40, giving the aerospace and satellite internet giant a market capitalization of about $2.52 trillion. At one point during trading, the company’s value crossed the $3 trillion mark.
The rally has had a massive impact on Musk’s wealth because he remains the company’s largest shareholder. According to estimates, his one-day gain exceeded the entire net worth of Microsoft co-founder Bill Gates.
Investor and entrepreneur Anthony Pompliano highlighted the scale of the surge in a post on X, writing:
Foreign
JUST IN: 12 Dead as Aircraft Crashes Near Airport
At least 12 people have been killed in a plane crash in Missouri in the midwestern United States, according to authorities.
The crash on Sunday was near Butler Memorial Airport in Bates County, south of the state’s largest city, Kansas City.
“Troopers are on scene assisting the Butler Police Department & Bates County Sheriff’s Office of a Fatal Plane Crash near the Butler Memorial Airport,” the Missouri State Highway Patrol posted on X.
“At this time reports indicate all occupants (12 total) have perished,” it said.
Missouri Highway Patrol Sergeant Justin Ewing said the plane was taking people up to skydive.
Emergency responders received a call that a plane was down and engulfed in fire around 11:30 am local time (16:30 GMT) on Sunday, he said.
They were able to extinguish the fire shortly after the crash, he said, describing the scene as “brutal.”
“It landed in a field adjacent to the airport, but I think they’re shutting down the roadway just as a precaution,” Ewing said.
The identities of those killed were not immediately released.
Ewing said the National Transportation Safety Board (NTSB) was on scene investigating the crash.
The cause was not immediately available.
Foreign
Relief as Marketers Release Cheaper Petrol Prices Nationwide
The cost of importing petrol into Nigeria dropped sharply following the recent decline in global crude oil prices, creating fresh competition for local refiners, including the $20 billion Dangote Refinery.
New data released by the Major Energy Marketers Association of Nigeria (MEMAN) showed that the landing cost of imported Premium Motor Spirit (PMS), also known as petrol, had fallen to N1,117 per litre as of June 4, 2026.
The figure was significantly lower than Dangote Refinery’s gantry price of N1,250 per litre, leaving a difference of N133 per litre.
Meanwhile, Nigeria’s fuel market is facing renewed uncertainty after the Dangote Refinery reportedly reduced petrol production, prompting fuel marketers to increase imports of cheaper products amid concerns over supply stability.
The development comes at a sensitive period for global energy markets, with rising crude oil prices and geopolitical tensions already putting pressure on fuel costs worldwide.
According to industry monitor IIR Energy, the Dangote Refinery has reduced operating rates at its key gasoline-producing unit, the Residual Fluid Catalytic Cracking Unit (RFCCU), by about 34%.
The reduction is linked to technical issues affecting the unit, which plays a major role in converting heavy crude residues into valuable products such as petrol, diesel and cooking gas.
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