Business
500 Chinese Engineers To Leave Nigeria, If…
More than 500 Chinese working as engineers and technicians in Innoson Motor Assembly Plant at Nnewi Anambra State, and flat sheet plant Emene industrial Layout, Enugu, Enugu State, have threatened to leave Nigeria emasse if the suspects apprehended by men of the Anambra state police over their alleged involvement in the kidnapping and killing of their brother, Mr. Feng Shyenyi are not made to face the full weight of the law.
The Chinese who made their feelings known while speaking to newsmen at the office of the Centre for Victims of Extra-Judicial Killings and Torture (CVEKT Africa) Enugu, regretted that between 2007 and now, some of the people directly and indirectly involved in the kidnapping and killing of the Chinese are still walking the streets as free men.
A spokeman of the Chinese, Mr Tang Tao told journalists that their planned exodus from Nigeria would crumble the N250 million Innoson Motor Assembly plant at Nnewi, which would result in loss of 300 plant jobs. Tao said that the planned exodus of Chinese would no in small measures worsen the already bad economy of the state and the federal government.
He therefore called on both the Enugu and Anambra State governments, the federal government and the Attorney-General of the federation to ensure that all those involved in the kidnapping and killing of their colleagues and brother, Mr Shyenyi, are brought to book to serve as deterrent to others.
This, Tao reasoned, is the only sure way of assuring them of their safety in Nigeria, describing the kidnapping and subsequent killing of their brother as “very unfortunate”.
Speaking to newsmen later, the Executive Director, Centre for Victims of Extra-Judicial killings and Torture (CVEKT Africa), Rev. Fr. Tony Amarube, described May 29, this year, as a “watershed” in the kidnap saga.
According to him: ”On this day, exactly, two years and two months after the kidnap event, the leader of the gang, Innocent Orji, alias “General” was apprehended by the Anambra State police and he has confirmed the death and burial of the second Chinese whose corpse has recently been exhumed and recovered by police.”

Dualisation of Warri - Port Harcourt section of the East-West Road in progress. Photo: King Osila
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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