Tag: China

List Of African Nations With Heaviest Chinese Debts

Ganiyu Amodu

“Number 8 may shock you!”   The COVID-19 outbreak and Russia’s invasion of Ukraine had a negative economic impact, making it harder for many African countries to pay down their national debt. According to the United Kingdom’s Chatham House, more than 20 low-income African nations were at a high risk of defaulting. Bloomberg revealed that China accounts for 12% of Africa’s $696 billion (KSh 94 trillion) external debt. Due to the extent of Chinese lending, the World Bank noted that seven African nations were either in debt distress or at…

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Officers Burst Into Jubilation As Court Stops E-Customs

Abibat Babalola

Here are answers to some of the and-then-what questions about the Customs modernisation project and why its introduction has been greeted by conflicting views Some Officers of the Nigeria Customs Service (NCS), at the weekend, reportedly burst into jubilation and expression of satisfaction over the interim injuction by a Federal High Court, Abuja restraining the Nigerian Government from enforcing or giving effect to an agreement on the Customs modernisation project. Platforms Africa reports quoting a document of the Business Insider that the officers who craved anonymity, said that the modernisation…

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Nigeria’s ex-Rep at OPEC, Dan Etete, Tasks Biden on Global Peace, Security

Wonuola Olujobi

    Former Representative of Nigeria at Organisation of Petroleum Exporting Countries (OPEC), Chief Dan Etete, has called on President Joe Biden of the United States of America to use his position as the leader of the most powerful country in the world to steer the world away from disaster by bringing hope, love and unity to the poor, homeless, hungry and traumatized people as well as the rich and affluent in the society. In a statement sent to Platforms Africa, the former Minister of Petroleum Resources noted that President…

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Americans naming China as Africa’s new colonial master Insulting — Obasanjo

Damilola Olonade

  Obasanjo comes down hard on some Americans as well as African leaders; “The amount of American treasury China is holding, if they unleash it on the world, America will feel it. …China not to blame, it is the stupidity of governments (in Africa) that go on borrowing with nothing to show for it.”     Nigeria’s former President Olusegun Obasanjo has declared that he feels insulted any time he is asked in America: “How are your new colonial masters.” The question, according to Obasanjo, comes regarding the huge loans…

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