Muhammadu Buhari

Nigeria owes China $69.3 mln, President vows to make aviation pride of Africa

President Muhammadu Buhari, has vowed to make the country’s aviation industry a pride in Africa. He said the federal government owed Chinese government $69.3 million counterpart fund for the construction of four airports under the project. The four airports are Abuja, Lagos, Port Harcourt and Kano. The President, at the commissioning of the new terminal […]

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China forcing African firms out of business, AfDB laments

African Development Bank, AfDB, has expressed concern that many African owned firms are forced to drop out of the market due to unfair competition from Chinese companies. Senior Director, AfDB Nigeria, Mr. Ebrima Faal, said this during the weekend at the African Economic Merit Awards (EAMA) World Plaque and Award Nominees unveiling ceremony in Abuja. […]

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Debt Management Office, DMO

DMO assures Nigeria of no risk on public debt

The Debt Management Office, DMO, has assured the public that Nigeria’s public debt is being managed under statutory provisions and international best practice, and there is no risk of default on any loan, including the Chinese loans. It said claims of a possible seizure of national assets by the Chinese government are unfounded, saying “the […]

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FILE PHOTO: Nigeria National Petroleum Corporation (NNPC) headquarters are seen in Abuja

NNPC, China partner to develop expertise in oilfield development

The Nigerian National Petroleum Corporation (NNPC) has said it is considering going into a partnership with the China National Offshore Oil Corporation (CNOOC), to develop its expertise in oilfield services. CNOOC, a global leader and China’s largest producer of offshore crude oil and natural gas, is the third-largest NOC in China, after the China National […]

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PMBinChina2018: China, Africa towards an even stronger community

Heads of State, Governments and delegations from 52 African countries, which includes Nigeria and the People’s, Republic of China met in Beijing, under the auspices of the Forum on China and Africa Cooperation (FOCAC). The tri-annual summit was held with the theme: “China and Africa: Towards an Even Stronger Community with a Shared Future through […]

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Nigeria’s export to China hits $9.6 billion while China exports $75 billion

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 […]

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3050 MW Mambilla Power Plant project starts early 2019: Presidency

President Muhammadu Buhari on Thursday received assurances from the Joint Venture Partners handling the 3050 Megawatts Mambilla Hydro-electric Plant that arrangements had reached advanced staged for the commencement of the project early 2019. The President’s Senior Special Assistant on Media and Publicity, Malam Garba Shehu, said in a statement in Abuja, that Buhari received the […]

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I’m not afraid of free and fair election, says Buhari

President Muhammadu Buhari Sunday in Beijing said that as a beneficiary of free and fair elections, he is not afraid of a credible process in 2019. To this effect, the president reaffirmed his commitment to making sure that the 2019 polls, under his watch, will be free, fair and credible. He spoke at an interactive […]

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Nigeria, China sign $328m agreement on ICT infrastructure, says Presidency

Presidential spokesman Garba Shehu has said that Nigeria and China have completed arrangements to sign 328 million dollars agreement on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11). Shehu, who is the Senior Special Assistant to the President on Media and Publicity, disclosed this in a statement in Abuja on Saturday. […]

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FILE PHOTO: Central Bank of Nigeria's logo is seen on the headquarters building in Abuja, CBN

Currency swap deal prevents importation of substandard products

The Central Bank of Nigeria on Wednesday said it was not possible for any importer to bring in substandard products into the country under the currency swap agreement recently signed with the People’s Bank of China. The apex bank said adequate measures had been put in place with all the regulatory agencies to check abuse […]

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Nigeria maintains China top trade partner as bilateral relation improves

The Consul-General, Republic of China in Lagos, Chao Xiaoliang has assured that bilateral relations between Nigeria and China would continue to improve with more understandings of Chinese business communities in Lagos of Nigerian Customs policies. He said this Monday during a Seminar organized by his office between Chinese business community in Lagos and Nigerian Customs, […]

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CBN hq

CBN wooing importers to trade Chinese Yuan

The Central Bank of Nigeria (CBN) has commenced moves to woo local businesses importing goods from China to use the yuan instead of the US dollar in its effort to support its naira currency and boost reserves. To this end, officials of the apex bank on Wednesday held a town hall meeting with businesses in […]

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