Nation

Nigeria Records N270bn Trade Deficit With China -Minister

Published

13 years ago

June 28, 2013

The trade volume between Nigeria and China stood at over N1 trillion in 2012 with a deficit of N270 billion against Nigeria.
Mr Samuel Ortom, the Minister of State for Industry, Trade and Investment, who disclosed this to newsmen on Thursday in Abuja, said the Federal Government was working hard to close the gap.
Our correspondent reports that Ortom spoke when a trade delegation from China, led by Mr Wonming Wang, the President of Africa Investment Network, visited him in his office.
Ortom said the delegation’s visit was in response to his visit to China to shop for more investors as part of efforts to correct the deficit.
“We are working round the clock to close the gap and this is why this Chinese delegation is here today.
“This is directly the result of my trade fair visit to China, specifically to Guangshou, where I met Mr Wang and these investors you are seeing here today.
“I told them about the potentials we have in our country. I am happy that they are here today to see things for themselves, and they have confirmed it.
“One of the challenges they have had are the over-exaggerated negative media reports that portray Nigeria as a horrible place to come.
“But they have come and seen things for themselves. Now, they have positive things to talk about and when they get back to China, I am sure they will tell their other colleagues.’’
Ortom said that Nigeria remained the first investment destination in Africa, citing the latest World Investment Report by the United Nations Conference on Trade and Development (UNCTAD).
According to the report, released on Wednesday, Nigeria recorded a Foreign Direct Investment (FDI) inflow of 7.03 dollars in 2012 to retain its number one position for the second time in two years.
South Africa, Ghana and Egypt followed with FDI inflows of 4.572, 3.295 and 2.798 dollars respectively.
“The opportunities are there, and I keep saying that today we have a president who is willing to overcome the country’s unemployment challenges.
“The only way we can do it is when we are able to establish businesses and industries that will give massive employment to our people,’’ Ortom said.
Wonming said that the delegation was in Nigeria to seek the minister’s assistance on behalf of Chinese companies and businesses, who have indicated interest to invest in the country.
He identified the areas of interest as auto mobile, marble, medical equipment, solar energy, building materials and housing construction, among others.
“I am here to ask for the assistance of the minister to bring Chinese investments to Nigeria because you are the top investment destination in Africa for investment.
“In China there are thousands of factories and companies that want to come to Nigeria.
“The areas of investment are many, and we consider the assistance of this esteemed ministry as very crucial.’’

Nation

Firefighters battle New Year Day inferno in Abuja, several states

Published

1 week ago

January 2, 2026

The Tide

Federal Fire Service FFS entered the New Year on full operational alert, tackling multiple fire outbreaks across the country from midnight into the early hours of January 1, 2026, in what officials described as one of the busiest festive-season deployments in recent years.

The intensified nationwide response followed a December 2025 directive issued by the Controller General of the Federal Fire Service, Olumode Samuel Adeyemi, who had ordered that no firefighter should proceed on leave throughout the holidays.

According to a statement by the National Public Relations Officer and Head of Corporate Services of the FFS, DCF Paul Abraham, the no-leave policy proved critical as the Service moved swiftly to contain fires in several states.

The Federal Capital Territory FCT recorded its first fire incident of the year barely twenty-three minutes after midnight when flames erupted at Cake Hot Restaurant located within River Plate Park, Wuse, Abuja.

Abraham said fire crews from the Federal Fire Service and the FCT Fire Service arrived promptly and were able to stop the blaze before it could spread through the popular recreational centre.

While a section of the garden area was destroyed, no lives were lost and no injuries were recorded.

Officials said property worth an estimated ?1.5 billion was saved, although losses were placed at about ?500 million.

“Preliminary findings suggested that the fire was triggered by objects thrown during New Year celebrations, reinforcing long-standing warnings over the dangers posed by fireworks during the harmattan season”, the Service said.

The Controller General had repeatedly urged Nigerians to avoid fireworks, candles and open flames indoors, warning that the dry winds characteristic of the season allow fires to spread rapidly.

He also warned the public about electrical faults and power surges and advised that electrical appliances be switched off and unplugged when not in use or when occupants leave their homes, stressing that overloading sockets and extension boxes remains a significant cause of domestic fires.

Nation

Enugu North LG chairman presents ?10.8bn 2026 Budget, prioritises roads …Security, Healthcare, Human Capital Development

Published

1 week ago

January 2, 2026

The Tide

Chairman of Enugu North Local Government Area in Enugu State, Dr. Ibenaku Harford Onoh, has presented a Ten Billion Eight Hundred Million Naira (?10.8bn) 2026 budget to the legislative council of the local government.

The budget, tagged “Budget of Continued Growth and Consolidation,” was presented on Wednesday during a plenary session attended by councillors, department heads, and other stakeholders.

Dr. Onoh explained that the 2026 budget is designed to consolidate achievements recorded in 2025 while scaling up development across the council’s 13 wards. Priority areas include road infrastructure, grassroots security, healthcare delivery, youth empowerment, and digital governance.

He also reviewed the 2025 budget performance, highlighting significant revenue growth and successful completion of key projects. Notably, the council’s internally generated revenue more than doubled, attributed to the introduction of digital revenue collection platforms and other innovative measures.

Among the 2025 achievements, Dr. Onoh mentioned the reconstruction of major roads at European Quarters, Hilltop, Coal Camp, and Ukwa Street, Ihewuishi, as well as the upgrade of the local security architecture through the reorganisation of the neighbourhood watch into “The City Watch.”

On the 2026 budget, the chairman stated that projected revenue would come from statutory allocations, VAT, internally generated revenue, and counterpart funding through public-private partnerships.

He noted that capital expenditure would take the larger share of the budget, with over half allocated to the economic sector. Planned projects include:

Completion of transport terminals at Aria Market

Construction and reconstruction of urban roads

Establishment of two sports centres

Healthcare interventions

Youth skills development programmes.

Dr. Onoh emphasised that the projects, policies, and programmes outlined in the budget are aimed at complementing the initiatives of Governor Peter Ndubisi Mbah, who is setting standards for local government councils to follow.

Responding, the Leader of the Legislative Council, Rt. Hon. Chizoba Nnamani, said the budget would be carefully scrutinised in the interest of residents before its passage.

Nation

Christians Convert To Islam or die As ISWAP burns down Christian village

Published

1 week ago

January 2, 2026

The Tide

Christians in Adamawa have been asked to Convert to Islam or die as commanded by the Islamic State of West Africa Province (ISWAP).

.The ISWAP forcedly burnt down Christian village in Adamawa Nigeria as reported on January 1, 2026.

The Islamic State of West Africa Province, ISWAP, has continued to wreak havoc on Christian communities in the Northeast, Nigeria.

This comes as ISWAP burned down a Christian village in Adamawa State.

A security expert, Brant Philip, disclosed this on Thursday in a viral video released by the terrorists.

“ISWAP released an image of one of the Christian villages in Adamawa State burning, alongside a statement saying that all Christians in Nigeria are legitimate targets, and they have an opportunity to “spare their blood” by converting to Islam or paying the jizyah tax to ISWAP,” Brant Philip wrote on X.

The move is perceived as retaliation for recent joint airstrikes by the Nigerian and United States military against a terrorist enclave in Sokoto, Nigeria.

Recall that five days ago, United States President Donald Trump announced that the US military launched airstrikes against terrorists in Sokoto State.