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China Exports to Nigeria Hit $75bn; Nigeria’s just $9.6bn



  • China Exports to Nigeria Hit $75bn; Nigeria’s just $9.6bn

Recently calculated total exports to Nigeria from China amounted to about $75 billion while on the Nigerian side, total export to China was about $9.6 billion.

This took the total trade volume between the two countries, as at July this year, to about $85 billion.

The Economic and Commercial Councilor, China Embassy in Nigeria, Zhaor Lin Xiang, disclosed this yesterday at a press briefing on the outcomes of the Forum on China-Africa Cooperation (FOCAC) Beijing summit.

An elated Xiang said these figures indicated that Chinese products were very popular in Nigeria and they are meeting the needs of Nigerians,” he noted.

Similarly, the British High Commissioner to Nigeria, Mr. Paul Arkwright, yesterday, said the United Kingdom was poised to double the annual trade volume of £4.2 billion between the two countries..

The Chinese Councilor, Lin Xiang explained that the figures he presented were based on the trade volume recorded as at July this year, adding that the Chinese government was planning to increase economic ties between Nigeria and the Asian continent.

Also speaking at the media parley, the Charge’d Affair, Chinese Embassy, Lin Jing said that the Beijing action plan 2019-2021 has as a cardinal point of action, the industrial and capacity building programme for African countries.

According to him, “This will translate to the establishment of 10 Lubab training centres; the centres will equip Africans with unique manufacturing skills, and provide 50,000 scholarships opportunities.”

Lin Jing also stated that China would continue to explore means that would improve economic and bilateral cooperation with Nigeria.

He said China would support Nigeria in manufacturing products that meet international standards, adding that in November, China would host an import-export trade fair meant to attract more trade and investments from other countries, as a way of improving bilateral trade.

The Embassy of China in Nigeria however frowned at the insinuation that China was on a mission to colonise Africa, adding that the Chinese president was doing all he could to ensure equality in all his dealings with the continent.

“As you all know, President Xi Jinping presented five major approaches that will guide China relationship with Africa.

“These approaches are: No interference with African countries pursuit in the development path; No interference in internal affairs; No imposition of our will on African countries; No attachment of political gains,” Jing said.

On the United Kingdom’s trade relations with Nigeria, the British High Commissioner Arkwright said: “The current volume of our trade relationship is £4.2 billion annually and our ambition is to double it to reach £8 billion by 2030.

“We are looking at how we can improve our economic engagements and to make it a win-win affair,” he stressed, restating the ties between both countries.

He said the United Kingdom was determined to get back to the number one spot in terms of trade with Nigeria.

Arkwright noted that British companies had been operating in Nigeria for so many years and that they were still doing well.

The Envoy, who pointed out that 5,000 Nigerians join the labour market daily, said the United Kingdom would do more to help create jobs in the country.

The envoy described the meeting with the Sokoto State Investment Company as fruitful, adding that he saw opportunities in the areas of agriculture, mining and leather in the state.

“I will go back to Abuja and my country and talk about the abundant opportunities in the state. I will talk and encourage my people to come and invest in Sokoto.”

In his remarks, the Chairman of the company, Alhaji Tukur Umar, urged the envoy to help showcase the potential of the state in the global arena.

“We have abundant opportunities in Sokoto. We are endowed with a lot of natural resources, fertile soil for agricultural investment and leather, among others. We have also keyed into the federal government’s ease of doing business,” he added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


TVC Resumes Operations in Lagos Office Following Hoodlums Attack




TVC Commences Operations Less Than 72 Hours After Hoodlums Attacked and Destroyed the Company’s Lagos Office

Television Continental (TVC) station has resumed operation less than 72 hours after its Lagos office was attacked by hoodlums that hijacked the #EndSARS protest.

The television station was attacked on Wednesday by criminals would believe that the media platform was owned by one of the top Buhari supporters, Mr. Bola Ahmed Tinubu.

The attack followed the shooting of unarmed #EndSARS protesters, who had gathered to protest against the activities of the Special Anti-Robbery Squad (SARS) unit of the Nigerian Police Force (NPF) at the Lekki Toll Gate on Tuesday.

The peaceful protesters were shot by security operatives in Nigerian Army uniform before the commencement of curfew imposed by Governor Babajide Sanwo-Olu of Lagos State.

The killings now tagged Lekki Massacre attracted global attention as global leaders condemned the Federal Government or whoever ordered the shooting and called for an immediate investigation into the matter.

On Wednesday, criminals allegedly sponsored by interested parties to dislodge peaceful protesters took advantage of the situation to wreak havoc across Nigeria’s commercial hub, Lagos State, as several private establishments businesses were attacked and looted by these unscrupulous characters.

One of the establishments attacked was the National Newspaper also linked to Mr. Tinubu.

The hoodlums stormed TVC on Wednesday morning during a popular morning show, Your View, anchored by Mrs Morayo Afolabi-Brown, the programme did not end before the television station went off air as it was immediately set on fire.

However, Investors King gathered that TVC resumed operations on Saturday morning, although regular programs were yet to resume fully.

As at the time of writing, the station was airing promos of various programmes and from what we gathered, regular programming will return very soon especially from its Abuja office.

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Ambassadorial Deal: Puma Names Wizkid as Brand Ambassador



Wizkid is Puma Latest Brand Ambassador

Puma, global sportswear, has named Nigerian superstar, Ayodeji Ibrahim Balogun popularly known as Wizkid as one of its global ambassadors.

Wizkid, 30, is the new Puma x JD ambassador for the relaunching of the Puma Suede Classics range.

Speaking on the deal, Wizkid said “It’s an honour to be the face of the new JD x Puma Suede Classics campaign.

“Puma is a brand I’ve loved and respected growing up, and so the decision to become an Ambassador felt completely natural. The Puma Suede is a classic shoe that can be worn by anyone at any age and I think my fans will really connect with that.”Also speaking on the partnership, Puma’s Sportstyle marketing director, said “We’re thrilled to have Wizkid as the face of the new Puma x JD Suede campaign.

“A truly innovative and exciting artist in the music scene, Wizkid embodies the passion and hustle we look for in someone to represent Puma and we look forward to working with him for the AW20 season.

Wizkid is a Nigerian musician and songwriter that has worked with Beyonce, Drake, Wale and other international superstars.

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Npower News Today: Npower Salary Update, Npower Latest News on Permanency



Latest Npower News Today: Npower Salary Update and Npower Latest News on Permanency

The Federal Government continues to engage private businesses and organisations on the absorption of exited batch A and batch B of the Npower program.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, disclosed this in Abuja.

On continuity and sustenance, the Federal Government allocated N420 billion to Npower and other social investment programmes in the 2021 proposed budget before the National Assembly.

President Muhammadu Buhari also made mention of it in his last speech regarding the #EndSARS protest.

Buhari said, “In furtherance of our inclusiveness agenda, the sum of N420 billion has been provided to sustain the Social Investment Programmes, while N20 billion has also been set aside for the family homes and our Social Housing Programme.”

Speaking on unpaid exited Npower beneficiaries of batches A and B, the minister said “the ministry has directed that opportunity be given to the affected beneficiaries to verify and re-validate their eligibility so that qualified beneficiaries can be paid for their participation in the N-Power Programme.

“Beneficiaries are hereby directed to report to their State Focal Persons immediately with their bank account details including bank statements from March 2020 to date, NYSC Discharge Certificates, birth certificates and other related screening documents.

“The deadline for verification is October 13, 2020. Beneficiaries who fail to attend the verification exercise will forfeit their stipends.”

The fresh verification has now closed, however, the list of the successful candidates for Batch C would be announced soon according to the minister while the Federal Government continues to work on permanent placement for exited Npower beneficiaries.

On fake Npower news flying across social media, Rhoda Ishaku Iliya, the Deputy Director Information of the ministry, said the attention of the ministry has been drawn to series of fake news trending on social media.

She said “the attention of the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development has been drawn to the fake news trending on social media that President Muhammadu Buhari will broadcast to the nation the absorption of N-Power Volunteers Batch A, into the Federal Civil Service,” the statement reads.

“The Ministry is hereby calling on the public to disregard the message and consider it as fake news. Any information on N-Power or the National Social Investment Programme will be issued through the appropriate Federal Government channels.”

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