Major International Business Headlines Brief::: 14 March 2025
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Major International Business Headlines Brief::: 14 March 2025
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ü Nigeria: Maiduguri Airport Now International - Tinubu
ü Nigeria: Govt Moves to Bridge Connectivity Gap to Foster Economic Growth
ü Nigeria: Tinubu Defends Reforms, Cardoso Upbeat On Economy, Says Time for Fear Is Over
ü Nigeria: Dangote Flags Off N16bn National Food Intervention Project in Kano
ü Nigeria: Tax Reform Bills - Reps Adopt 7.5% VAT, Reject Increase to 15%
ü Nigeria: Fubara Writes Fresh Letter for 2025 Budget Presentation to Rivers Assembly
ü Rwanda: Govt Sets Up Cybersecurity Academy to Tackle Tech Threats
ü South Africa: Long-Suffering Durban Residents Could Wait Years for End to Water Crisis
ü Africa: The 'Biggest Trout Farm in Africa' and the Failed R5,000 Community Fund
ü Namibia Launches 25mw Solar Plant, Honouring Freedom Fighter, Advancing Energy Transition
ü Nigeria: Zamfara Collaborates With Chinese Firms to Boost Security, Agriculture, Transport, Mining Sectors
ü Top Democrat Schumer backs Republican spending bill to avert shutdown
ü UK economy shrank unexpectedly in January
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Nigeria: Maiduguri Airport Now International - Tinubu
President Bola Tinubu has approved the upgrade of Maiduguri airport to international status, completing the establishment of international airports across all six geo-political zones of the country. Special Adviser to the President on Media and Public Communications, Sunday Dare, made this public yesterday via his verified X handle, @SundayDareSD.
The move was expected to boost economic activities and enhance regional connectivity in the North-east.
With the upgrade, Maiduguri airport joined the ranks of international airports in Nigeria, improving access for travellers and facilitating trade and investment in the region.
Dare also confirmed the official take-off of the African Aviation and Aerospace University (AAAU) in Abuja.
In a related development, Minister of Aviation and Aerospace Development, Festus Keyamo, received the Ambassador of Namibia to Nigeria, H.E. Humphrey D. Geiseb, in his office in Abuja.
Their interaction revolved around the existing Bilateral Air Services Agreement (BASA) between Nigeria and Namibia and potential collaborations to enhance aviation connectivity between the two nations.
Geiseb, during the visit, highlighted the historical importance of Air Namibia's operations between the two countries, stating that the national carrier previously connected Lagos to Accra and played a key role in facilitating travel between Namibia and Nigeria.
The specialised institution is set to advance aviation and aerospace education, positioning Nigeria as a key player in the sector within Africa.
The university is expected to provide world-class training in aviation management, aerospace engineering, and other related disciplines, contributing to the development of highly skilled professionals in the industry.
Dare, in the tweet on X, stated inter alia, "President Tinubu has approved the upgrade of the Maiduguri airport to the status of an international airport. This completes the round of international airports across the country with each geo-political zone having an airport.
"Equally, the African Aviation and Aerospace University, AAAU, takes off in Abuja."
However, Geiseb said Air Namibia faced financial difficulties and was eventually forced to cease operations following a government bailout.
He emphasised that currently it remained challenging to directly connect Windhoek, Namibia's capital, with Nigeria, with travellers having to transit through Addis Ababa.
"While there are occasional flights via TAG Airlines, they are not frequent enough to meet the demand for seamless travel between the two nations," he said.
The ambassador expressed his country's desire to partner with Nigerian airlines to restore direct connectivity, citing ongoing discussions with Air Peace.
He encouraged Keyamo to engage with domestic airlines to explore potential collaboration opportunities.
Geiseb assured the minister that he would engage his counterpart, Namibia's Minister of Aviation, to arrange a possible visit to further strengthen the aviation cooperation between both countries.
In response, Keyamo expressed his support and shared a personal experience regarding the challenges in establishing direct flights in the region.
He referenced the successful Algeria/Lagos/Cameroon flight route, which was initiated after the Algerian ambassador proposed a direct connection, despite the close proximity between Nigeria and Cameroon.
The minister also mentioned that one of Nigeria's fast-rising domestic carriers, Xejet, which currently operated Sierra Leone's national carrier, Air Sierra Leone, could be a potential partner in that venture.
Additionally, the minister raised the issue of visa challenges between Nigeria and Namibia, recalling his own recent difficulties obtaining a visa, despite holding a diplomatic passport.
He urged the ambassador to work towards resolving the issues to facilitate smoother travel and to open doors for more trade and investment relations between the two countries.
Keyamo and Geiseb agreed to collaborate on the matters to improve bilateral ties.
The visit marked a significant step in fostering closer aviation and diplomatic relations between Nigeria and Namibia, with both parties saying they are committed to exploring new opportunities that will benefit their countries' aviation sectors and promote greater economic cooperation.
Read the original article on This Day.
Nigeria: Govt Moves to Bridge Connectivity Gap to Foster Economic Growth
Minister of Communications, Innovations and Digital Economy, Dr. Bosun Tijani, has called on industry stakeholders to align with government to collectively address connectivity gaps and ensure that no one is left behind in the journey towards a fully connected and digitally empowered Nigeria.
Tijani expressed worry at the current connectivity gap in Nigeria, where millions, particularly those in remote and underserved communities, were disconnected from digital opportunities.
He spoke yesterday in Lagos during an industry-focused stakeholder's engagement forum, organised by the Universal Service Provision Fund (USPF).
In a related development, Tijani stated that the launch of Airtel's spam alert service across its African operations, beginning with Nigeria, will ensure safety of its Nigerian customers when connected to the internet via their mobile phones and other smart devices. The minister said this in Lagos yesterday during the launch of the solution, which is Africa's first spam alert service designed to protect Airtelcustomers from millions of fraudulent spam messages sent across networks by hackers.
Meanwhile, speaking in Lagos during an industry-focused stakeholder's engagement forum, organised by USPF, Tijani said despite efforts by government to bridge connectivity gap in the past, the gap still existed, especially among those in unserved and underserved communities.
He stated, "Over the last 25 years, Nigeria has made significant strides in expanding connectivity and strengthening our digital technology infrastructure.
"In recent years, broadband penetration has been growing significantly, bringing millions of more Nigerians online and enabling new opportunities for innovation, entrepreneurship, and digital inclusion.
"Today, however, there are still millions of Nigerians on the fringes of digital transformation who are yet to have access to reliable connectivity.
"Many communities - particularly rural areas - face significant barriers, including inadequate infrastructure and limited digital literacy. These gaps not only hinder personal and business growth but also limit the full potential of Nigeria's digital economy."
Tijani added, "The Universal Service Provision Fund (USPF) has been a critical instrument in the federal government's mission to extend connectivity to these communities.
"By supporting infrastructure expansion, fostering local innovation, and driving inclusive policies, the USPF aligns with President Bola Ahmed Tinubu's goal of enabling meaningful and affordable connectivity for all Nigerians."
According to him, the federal government, through the Ministry of Communications, Innovation, and Digital Economy, is driving transformative projects aimed at unlocking digital opportunities for millions of Nigerians.
He listed some of the projects to include the 90,000km fibre optic expansion, designed to improve broadband penetration across Nigeria; and Project 774 initiative purposed to ensure that every local government secretariat in Nigeria benefitted from high-speed connectivity.
The others were the Universal Access, a game-changing initiative targeted at connecting over 20 million Nigerians, who had no access to digital services; the National Broadband Alliance of Nigeria (NBAN) aimed at driving universal high quality broadband access; and The 3 Million Technical Talent programme (3MTT), among others.
Speaking on the theme, "Strengthening Partnership for Sustainable Telecommunication Infrastructure in the Unserved and Underserved Communities: Collaborating for Sustainable Growth," Executive Vice Chairman of Nigerian Communications Commission (NCC), Dr. Aminu Maida, said, "The theme reflects our collective commitment to ensuring equitable access to telecommunications services for all Nigerians, especially those in unserved and underserved communities.
"The engagement is particularly aimed at bringing key industry stakeholders together to provide valuable insights on strategies that can be adopted to enhance USPF interventions and serve as a feedback mechanism to build partnerships for Nigeria's digital future."
According to Maida, the evolving telecommunications landscape necessitates innovative and collaborative approaches to ensure long-term viability in delivering connectivity to unserved and underserved populations.
He called for a multi-stakeholder approach that will explore innovative financing models to attract investment in rural telecommunications; leverage emerging technologies and alternative power solutions for sustainable connectivity; and promote policies that incentivize collaborative participation in connectivity projects.
Maida said all solutions must be tailored to address local challenges/needs and aligned with current realities. He expressed confidence that the deliberations from the forum will lead to actionable solutions that will drive progress, foster economic development, and ultimately transform lives through connectivity in the most remote corners of our nation.
At the launch of Airtel's spam alert service across its African operations, beginning with Nigeria, Tijani said, "Government is facing an urgent demand to diversify the economy and raise the level of productivity across key sectors.
"To this end, we believe and acknowledge the initiative that leads Artificial Intelligence (AI) as not just an early trend, but a significant catalyst for change. AI, as we know, has the potential to revolutionise so many aspects of our lives.
"It can help increase how we do diagnosis, transform education by making it more personal, bringing the government closer, as we learn how to protect our citizens from fraudulent practices. More importantly, AI offers countries like ours a chance to explore traditional development challenges and unlock opportunities for growth.
"I commend Airtel for its continued investment in the Nigerian digital ecosystem and the launch of this AI-powered Spam Alert Service. I personally consider this a significant step towards enhancing online security for millions of Nigerians."
Tijani stated that the initiative aligned with government's commitment to ensure universal and meaningful connectivity while safeguarding digital spaces against fraud and cyberattacks.
He stated, "By deploying AI-driven innovations that protect users and builds trust, Airtel is contributing to a safer, more prosperous digital economy, one where Nigerians can fully participate with confidence and security."
In his remarks, Maida said NCC had always placed consumer protection at the heart of its regulatory mandate, adding that the commission is pleased to see operators, like Airtel, taking proactive steps to safeguard their customers.
He said, "Nigeria, like many other African nations, has seen a rise in these so-called spam-related scams. The AI-powered solution from Airtel provides a much-needed way of security, using advanced technology to detect and flag suspicious messages before they reach consumers.
"This aligns with the NCC's broader commitment to improving the quality of telecom services and advancing consumer trust in the industry."
Chief Executive Officer of Airtel Nigeria, Dinesh Balsingh, said the AI-powered spam alert service was developed to protect customers and keep them in a secure state.
"So, spam, today, is a menace and it is something which is globally recognised. About 60 per cent of our consumers receive spam SMS in a month and these are unwanted SMS. For a scam to happen, it starts with a spam message," Balsingh said.
Chief Marketing Officer at Airtel Nigeria, Oluwafemi Oshinlaja, said over 150 million Airtel subscribers across Africa would benefit from the solution, beginning from Nigeria.
Read the original article on This Day.
Nigeria: Tinubu Defends Reforms, Cardoso Upbeat On Economy, Says Time for Fear Is Over
President Bola Ahmed Tinubu, yesterday, articulated the rationale behind his administration's economic reforms, saying the primary motive is to protect the interests of future generations, whose commonwealth, he says, has been frittered in the last five decades.
Tinubu made the remarks at State House, Abuja, while receiving a delegation of former National Assembly colleagues from the aborted Third Republic, when he served as senator for Lagos West.
He highlighted the challenges he faced at the beginning of his administration, and said they were mainly economic and social.
The president's comments came as Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, allayed fears about the fate of the Nigerian economy, assuring that the worst is over and a period of relief and recovery is at hand.
Similarly, National Security Adviser (NSA), Malam Nuhu Ribadu, said safeguarding the naira was a national security obligation.
Ribadu vowed to sustain existing collaboration between his office and the apex bank to stem abuses and sabotage of the naira.
Cardoso and Ribadu spoke yesterday in Abuja at a CBN and security agencies' engagement session with the theme, "Security and Efficiency in Cash Cycle Operations."
Tinubu expressed his gratitude to the delegation of former legislators, especially, for their support in the difficult times.
He stated, "For 50 years, Nigeria was spending money of generations yet unborn and servicing the West Coast of our sub-region with fuel. It was getting difficult to plan for our children's future.
"We faced serious headwinds, when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy's collapse."
The president declared that the administration had been able to stem the ugly tide. He expressed appreciation to Nigerians for their collective support in the efforts to turn things around.
He said, "Today, we are sitting pretty on a good foundation. We have reversed the problem; the exchange rate is stabilising. Food prices are coming down, especially, during Ramadan. We will have light at the end of the tunnel."
Tinubu said firm adherence to democratic tenets was the best route to economic, social, and political development.
He told the former legislators, "I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball. Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefiting from it."
Speaking earlier on behalf of the group of Third Republic legislators, Senator Emmanuel Nwaka expressed his delight at some of the programmes the Tinubuadministration had implemented, especially, the Nigerian Education Loan Fund (NELFUND) and Nigerian Consumer Credit Corporation (CREDICORP).
Nwaka said, "I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I've spoken with many of them, and many have benefited from it.
"And the next one is the CREDICORP. That's a major way of fighting corruption. You see, a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I'm following their activities; we are delighted."
Other members of the delegation were Senator Bako Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo, and Hon. EzeNwauwa.
Meanwhile, Cardoso said the most difficult part of the country's economic journey had passed. He said there was growing confidence in the naira, with more and more people now choosing to keep their assets in the local currency.
Cardoso attributed the successes recorded in efforts to strengthen the naira, partly, to the immense support provided by the office of the NSA (ONSA). He said Ribadutook it upon himself to rally other security agencies to deal with the situation.
The CBN governor said what transpired between the apex bank and ONSA during the "very difficult" period "contributed to the stability of what we have today".
He stressed that he remained grateful for the continuous support of the NSA, following unprecedented attacks and pressure on the naira.
Cardoso stated, "There's nothing to be afraid of; we have seen extremely difficult times...the time for fear is over."
Cardoso reiterated the need to further collaborate with security agencies to preserve the gains achieved so far. He underscored the critical role of security in safeguarding Nigeria's financial system and ensuring the seamless execution of the apex bank's mandate.
He also acknowledged the invaluable roe of the security agencies in financial stability and economic integrity.
Nevertheless, the CBN governor pointed out that recent experiences highlighted pressing challenges that required urgent attention and closer collaboration.
He said disruptions in cash movement, disparate pricing for security escort services, and the commoditisation of cash by Point of Sale (POS) merchants and bank agents remained emerging concerns that impacted financial system efficiency.
Cardoso also said administrative issues, including End-User Certificate administration, necessitated structured engagement between financial institutions and security agencies to ensure compliance without impeding essential banking operations.
He said beyond the cash cycle-related concerns, the central bank had continued to face broader security challenges that affected its operations.
Cardoso listed the challenges to include security coverage for CBN premises and currency movements. He highlighted the limited availability of armed security personnel, particularly in regions experiencing heightened criminal activities.
He also bemoaned inter-agency communication gaps, especially delays and procedural bottlenecks in obtaining necessary security clearances for CBN-approved operations, including foreign currency evacuations.
Cardoso said investigative scrutiny, particularly instances where CBN officials were summoned for routine approvals, impacting operational efficiency and regulatory confidence, needed to be reviewed.
Other concerns raised by the central bank boss included uncoordinated treatment of Cash-in-Transit (CIT) services, especially arrests and detentions of banking and CIT personnel, as well as seizures of consignments without consideration for the bank's operational needs.
He drew attention to the inconsistencies in security service provisions across different police commands, leading to varied pricing structures and logistic challenges that complicated the engagement process.
He also emphasised the role of security agencies in combating currency trading malpractice, and strengthening collaboration to curb illicit currency trading activities that undermined monetary policy objectives.
Cardoso said, "These issues underscore the urgent need for clearer operational frameworks, improved security protocols, and stronger inter-agency cooperation to enhance the effectiveness of the CBN's regulatory and operational responsibilities."
He said the workshop served as a platform to realign collective efforts by enhancing mutual understanding, refining security protocols, and fostering a cooperative framework, to create a more secure, efficient, and responsive financial system.
Ribadu, in his own comments, said addressing identified concerns required collaborative efforts.
He pointed out that in other parts of the world, cash movement was made a specialised task to reduce operational challenges.
The NSA boss called for enforcement of existing laws against those who abused the naira, adding that bringing people to justice is key to solving the problem.
Ribadu said, "If nobody is punished for bad behaviour, they will do more."
He said cash movement needed to be certified and standardised.
Ribadu lamented a situation where half of the seats on commercial flights were sometimes occupied with cash, wondering what would be the case on private flights as well as boats.
He said the current administration was dealing with some of the difficulties it inherited, adding, however, that there has been lots of improvements.
He stated, "The economy is beginning to take shape in less than two years, and we are counting the benefits. We inherited one of the most damaged economies."
Ribadu commended Cardoso for doing a lot to stabilise the financial system, and vowed continuous support for the central bank.
He acknowledged that the partnership between CBN and ONSA had yielded positive outcomes.
Earlier, CBN Deputy Governor, Operations Directorate, Bala Bello, explained that the engagement session aimed to reinforce the importance of a robust security framework in safeguarding the financial ecosystem, while ensuring the seamless execution of the bank's mandate.
Bello said CBN and its licensed partners interacted with various security agencies for numerous reasons, which included security escort/clearance, financial intelligence, and investigations.
Bello pointed out that the financial industry had its own challenges, especially cash cycle operations challenges, lack of uniformity in the provision of logistic services, and the commoditisation of the naira by PoS merchants and bank agents.
He stated, "Addressing these concerns effectively demands enhanced collaboration, mutual understanding, and structured guidelines for an enhanced service delivery.
Security remains a fundamental pillar of financial system stability."
Relatedly, CBN's Deputy Governor, Corporate Services Directorate, Ms. EmemUsoro, said the bank remained committed to bold, data-driven policies that accelerated access to finance, drove investment, and fostered a more inclusive, dynamic economy.
Usoro spoke at the Citibank's inaugural Women in Central Banking event, held in London, on March 10, in celebration of International Women's Day.
In her address, titled, "Accelerating Women's Financial Inclusion: Unlocking Opportunities for Growth and Investment," she expressed confidence that the bank's strategic initiatives, under Cardoso, will drive higher financial inclusion for women and other underserved groups and unlock economic value.
Usoro told the forum, which had female central bank deputy governors from Kenya, Türkiye, Israel, Kazakhstan, Nigeria, and the United Kingdom, that CBN's efforts will fuel entrepreneurship, expand market participation, and strengthen financial resilience.
She stated, "With macroeconomic stabilisation taking hold, the central bank is shifting focus to broader financial sector reforms, including financial inclusion - an area of particular importance to Governor Cardoso.
"Whether for women-led businesses seeking capital, professionals securing their financial futures, or rural communities accessing banking for the first time, inclusion is a catalyst for sustainable growth.
"It is undeniable that when women thrive, economies prosper and opportunities multiply."
In celebration of the 2025 International Women's Day, Usoro shared the CBN's targeted policies and strategies to accelerate women's financial inclusion and reduce the gender gap in access to finance.
She disclosed that CBN, in collaboration with development partners, had conducted an assessment of women's financial inclusion in Nigeria. She said the bank established a Gender Desk in its Financial Inclusion Unit in response to the study's findings, which identified key obstacles, such as low trust in financial service providers and limited financial literacy.
The study revealed a nine per cent gender gap in access to finance, she said.
While stating the challenges faced by the current CBN management team upon taking office, Usoro outlined a series of critical reforms implemented to realign the bank with its core mandate.
She also listed the launch of the Women Entrepreneurs Finance (WE-FI) Code Commitment, championed by CBN, in collaboration with the Development Bank of Nigeria (DBN) and the Bank of Industry (BoI); the launch of the Framework for Advancing Women's Financial Inclusion in Nigeria (FAWFIN); and the inauguration of an inter-agency Special Interventions Working Group with a priority focus on women, as efforts by the bank to promote gender financial inclusion.
Usoro, urged participants to partner with financial institutions to expand credit facilities for women-owned businesses, invest in the fintechecosystem, particularly in infrastructure that improved access to digital finance, and support capacity-building programmes that enhanced women's financial literacy and entrepreneurship.
Read the original article on This Day.
Nigeria: Dangote Flags Off N16bn National Food Intervention Project in Kano
Kano — Over one million Nigerians nationwide will receive a 10kg bag of rice each as the Aliko Dangote Foundation (ADF) Thursday launched the 2025 Annual National Food Intervention Project in Kano.
Speaking at the ceremony, chairman of the Aliko Dangote Foundation, Mr. AlikoDangote, said the distribution would capture most vulnerable Nigerians in the 774 Local Government Areas is in line with the core values of his company and foundation.
Dangote, represented by his daughter, Maria Aliko Dangote, said: "This annual initiative, which embodies compassion, solidarity, and shared responsibility, is part of our response to the current economic challenges facing our nation.
He said the foundation was kicking off the distribution in Kano State, after which it will proceed to other states, while ensuring that the food reaches those who need it most in all the Local Government Areas of Nigeria.
Mr. Dangote who is Africa's wealthiest person said food remains a basic human necessity, and this is why the Aliko Dangote Foundation adopted the practice of embarking on a food distribution programme across the states.
"We are collaborating with state governments to ensure that the food reaches the most vulnerable individuals in each state," he added.
Governor Abba Yusuf who flagged-off the Annual National Food Intervention Project said the intervention reflects the unwavering commitment of Mr. Dangote in addressing poverty and hunger in Nigeria.
The governor, represented by his deputy, Comrade Aminu Abdulsalam Gworzo, said 120,000 bags of 10kg rice will be distributed across the 44 local government areas of the state.
He described Mr. Dangote as humane, adding that: "A similar event took place last year where he personally oversaw the distribution of food stuff to the poor in this very arena."
To ensure transparency in the distribution process, he said the state government has set up a committee comprising of relevant ministries, CSOs, religious leaders, departments and agencies, local authorities, the Hisbah Board and security agencies.
Read the original article on This Day.
Nigeria: Tax Reform Bills - Reps Adopt 7.5% VAT, Reject Increase to 15%
Abuja -- The House of Representatives has retained Value Added Tax, VAT, at 7.5 per cent and rejected a staggered increase to 15 per cent by 2030 as proposed in the Tax Reform Bills being debated at the National Assembly.
The House also rejected the proposed reintroduction of inheritance tax under the guise of taxation of family income.
Meanwhile, the Nigerian Chamber of Commerce Industry Mines and Agriculture, NACCIMA, said it would await details of what was approved before making any comment.
On its part, the Movement for Socialist Alternative, MSA, a member of the Joint Action Front, JAF, the umbrella body of pro-people civil society organisations, CSO, urged Nigerians not to yet.
Submitting the report during plenary in Abuja, yesterday, the Chairman of the House Committee on Finance, Mr. James Faleke said that the report "represents an extensive review of the Bills carried out by the committee, with careful consideration of public input."
The bills include four distinct pieces of legislation aimed at overhauling Nigeria's tax framework -- the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Key changes
The key changes made to the three major bills include: The Nigeria Revenue Service Bill, the Joint Revenue Board (Establishment) Bill, and the Nigeria Tax Administration Bill includes.
Nigeria Revenue Service Bill
Significant amendments were made to Section 4 of this bill, which defines the functions of the Nigeria Revenue Service, NRS. The committee limited the NRS's scope to exclude individual taxpayers in states and the Federal Capital Territory, FCT, shifting their focus to federal-level revenue.
The composition of the governing board was also revised. Section 7 now requires the board to include six executive directors, appointed by the president from each geo-political zone on a rotational basis. Additionally, one representative from each state and the FCT will sit on the board to ensure proper federal character representation.
Section 13 introduced new qualifications for the Secretary to the Board, who must be a lawyer, chartered accountant, or chartered secretary at the level of Assistant Director or higher. Amendments to the funding of the NRS introduced a fixed cost-of-collection rate of four per cent of total revenue, minus royalties, to be appropriated by the National Assembly.
Moreover, the NRS's borrowing powers (Section 28) were tightened, requiring approvals from both the Federal Executive Council and the National Assembly before any loans can be secured.
Joint Revenue Board (Establish-ment) Bill
The Joint Revenue Board Bill saw adjustments aimed at improving oversight and transparency. Section 25, which previously outlined qualifications for Tax Appeal Commissioners, removed the requirement for commissioners to have experience managing businesses, which the committee deemed irrelevant.
The committee also emphasized the independence of the Tax Ombud's office in Section 43 by funding it directly through the Consolidated Revenue Fund, eliminating gifts or grants that could introduce biases. Similarly, provisions were made for additional office expenses under Section 44.
The committee further introduced new regulations to ensure that the Evidence Act is strictly adhered to during tax appeal proceedings.
A significant change was the establishment of independent funding for the Tax Appeal Tribunal, TAT, freeing it from dependence on the Federal Inland Revenue Service, FIRS, to avoid conflicts of interest.
Nigeria Tax Administration Bill
Several practical amendments were introduced in the Nigeria Tax Administration Bill to enhance efficiency. Section 7 extended the timeline for issuing taxpayer identification numbers (Tax IDs) from two working days to five, allowing room for administrative delays. Additionally, a reduction in the timeline for companies ceasing operations to file their income tax returns (Section 11) from six months to three was introduced to prevent revenue loss.
The VAT system was also revised (Section 22) to ensure that taxable supplies are attributed to their place of consumption, irrespective of where returns are filed, addressing concerns of regional imbalances.
The committee introduced a VAT fiscalisation system (Section 23), requiring the development of further regulations to ensure the system's effectiveness.
Amendments were made to the reporting thresholds for banking transactions (Section 28), raising them from N25 million to N50 million for individuals and from N100 million to N250 million for corporate entities.
Section 60 mandated court orders before the tax authority could seize movable assets, reinforcing the need for judicial oversight.
One of the most notable additions is the mandatory provision of access to electronically stored taxpayer information (Section 61), in light of the increasing shift from manual to electronic storage.
The committee also amended Section 77, introducing a new formula for distributing VAT revenues to local governments, ensuring that 70 per cent is distributed equally and 30 percent based on population.
Other Bills and general amendments
Other key amendments include maintaining the VAT rate at 7.5 per cent, despite initial proposals to increase it gradually to 15 per cent by 2030. The committee also made changes to income tax provisions for petroleum operations (Section 78), setting the tax rate for petroleum gains at 30 per cent instead of the previously higher rate of 85 percent.
Provisions related to excise duties were deleted across various bills due to concerns about their economic impact.
The committee also addressed definitions related to small companies, raising the turnover threshold for their classification to N100 million while maintaining the asset cap at N250 million.
New Penalties
New penalties were introduced for non-compliance by Virtual Assets Service Providers, VASPs, which include hefty fines and potential suspension of licenses.
While submitting the report, Faleke reaffirmed the importance of the Tax Reform Bills to Nigeria's economic development. He said: "These Bills are critical to the implementation of a modern, transparent, and efficient tax system that will foster economic growth and improve revenue collection.
"During the retreat held from March 3 to 9, 2025, the committee reviewed submissions made by the public during the hearing. Representatives from key government agencies, including the Nigeria Export Processing Zones Authority, NEPZA, the National Agency for Science and Engineering Infrastructure, NASENI, the National Information Technology Development Agency, NITDA, and the Tertiary Education Trust Fund, TETFund, were also invited to provide further input.
"We carefully examined every submission to ensure that the public's opinions were incorporated into the review process." In addition, he said that the retreat involved a thorough review of existing laws proposed for repeal or amendment.
"The committee recommended amendments to various pieces of legislation, including the Companies Income Tax Act, CITA, Value Added Tax Act, VAT, Personal Income Tax Act, PITA, and the Federal Inland Revenue Service (Establishment) Act, among others. The Petroleum Industry Act, Nigeria Export Processing Zones Act, and Oil and Gas Free Trade Zone Act were also amended to reflect the proposed changes."
The House of Representatives is expected to deliberate on the report in the coming weeks as part of its legislative process.
We await details of approval before comment -- NACCIMA
President of NACCIMA, Dele Oye, which reacting to the development, said he would have to see the details of what was approved before making any comment.
His words: "I need to see what was approved. I cannot comment without details as we had alot of comments on the draft bill."
Don't celebrate yet, CSO advises Nigerians
Speaking through its General Secretary, Dagga Tolar, said: "We must not be in a hurry, to applaud this House of Representatives' rejection of increase in VAT. It is not far reaching enough bearing in mind that this is only one feature of the Tax Reform Bill that aims to grasp more from the little never enough earnings of the working population, while granting a tax holiday to members of the billionaire club.
"Yes, the progressive VAT increases only adds more burden to the working population, members of the billionaire club who have their hands in the pie and bread buttered by the National cake have nothing to fear about VAT. Nearly all of their needs come via one direct or indirect link to the wealth of the country.
"It is the vast majority of the working population that are on their own, assailed by hunger, inflation, mass unemployment with poverty wages of N70,000 ($45) that is not even paid by all the states, and a majority of the private sector. Even at that, the current minimum wage has shrunk and is now lower than all previous minimum wages in its dollar value. The 2019 Buhari's N30,000 with a dollar/N350 was $85. Go back to 1981 with minimum wage at N125 and a dollar/ N0.60k was $205.
"This is the pithole that the Tinubu regime continues to condemn us all into, refusing to make a break from Neoliberal capitalist dictations of the International Monetary Fund, IMF and World Bank that will not set us out to industrialise and compete with China, US and Europe. Not to forget, we run a rental economy. The ruling class has no interest in increasing the purchasing power of the working population. If this was the case, it would not be flying this Tax Reform Bill. The Babangida Book launch reveals to all of us that there is too much wealth in the hands of a few. What is their tax contribution to the coffers of the state?
"We cannot rely on the House of Representatives or the National Assembly or even the northern governors to provide a consistent opposition to VAT increase or the Tax Reform Bill. They are beneficiaries, we in the Movement for Socialist Alternative call on the Nigeria Labour Congress, NLC and Trade Union Congress of Nigeria, TUC, leadership demand a new minimum wage to march the rate of inflation immediately. Mobilise workers for one day warning strike in opposition to imposing new tax burden on workers. For a progressive tax that makes billionaires to pay more. To end the tax holiday granted to corporations. And for an emergency relief package of nothing less than a N100,000 for all workers and the unemployed in the country."
Read the original article on Vanguard.
Nigeria: Fubara Writes Fresh Letter for 2025 Budget Presentation to Rivers Assembly
Less than eight hours after his Chief Judge has been placed on investigation over alleged age falsification, the Rivers State Governor, Siminalayi Fubara, has properly written to the state House of Assembly of his intention to present the 2025 budget.
On Wednesday, Fubara was locked out of the Assembly Complex for what the spokesman of the House, Hon Enemi George said "his inability to formally communicate the House".
In a letter titled: Notice of Presentation of Rivers State 2025 Budget to Rivers State House of Assembly, and addressed to the Speaker, Martins Amaewhule, the Governor recalled his first visit to the House.
"You may recall my failed visit to the Rivers State House of Assembly on Wednesday, 12th March, 2025 for the presentation of the 2025 Rivers State Budget in compliance with the judgement of the Supreme Court of Nigeria.
"As you know, the planned presentation of the said budget could not take place because my entourage and I were locked out at the gate and denied entry into the premises despite the prior delivery of a soft copy of the notice to you following the failure of the Clerk to accept the hard copy from us.
"Recall further that before this unfortunate incident, the House issued a 48-hour ultimatum to present the 2025 budget even when we were yet to be served with the certified true copy of the judgement and accompanying enrolled orders", he said.
Governor Fubara informed the Speaker in the letter that "we were simply complying with both the order of the Supreme Court and the request of the Rivers State House of Assembly when we came to present the 2025 budget on the 12th of March, 2025.
"The Supreme Court has directed that all arms of government should exercise their powers and perform their duties within the ambits of the Constitution and ordinary laws of our country, and this we must do to end the lingering stalemate and advance the progress of our state and the well-being of our people.
"No matter the depth of our differences, we believe the interests of the State and our people should take priority over political conflicts.
"Against this background, it is my pleasure to again notify you, Mr. Speaker, of my desire and intention to present the 2025 Budget to the Rivers State House of Assembly on Wednesday, 19th March, 2025 by 11.00 a.m. or any other date within March 2025 that you may consider convenient".
It is therefore left to be seen if the House will have the courtesy to respond to the letter giving the long time frame for thr presentation of the budget.
Read the original article on Vanguard.
Rwanda: Govt Sets Up Cybersecurity Academy to Tackle Tech Threats
Rwanda is set to establish a cybersecurity academy aimed at enhancing protection against technology-related threats, with its completion expected this year, according to Minister of ICT and Innovation Paula Ingabire.
She provided the update while addressing Members of Parliament on Thursday, March 13.
Ingabire made the remarks during a session on Information, Communication, and Technology (ICT), held by the Lower House's Committee on Governance and Gender Affairs.
ALSO READ: Rwanda has shined in new cybersecurity index...but what informs ITU rankings?
She stated that the government is developing the academy in collaboration with key partners, including Cisco, a leading American multinational digital communications technology conglomerate.
The academy will be housed at the University of Rwanda's College of Science and Technology in Kigali.
"It's about building the capacity we need across multiple fields--whether it's artificial intelligence, cybersecurity, or ICT in general. We need more professionals in the cybersecurity space," Ingabire told The New Times.
Yves Iradukunda, the Permanent Secretary at the Ministry of ICT and Innovation, described the academy as a professional institution that will provide industry-recognised certifications, including network administration credentials.
"We aim to establish a regional center of excellence in cybersecurity, attracting not only Rwandan professionals but also learners from across the region for short-term training programs," Iradukunda said.
ALSO READ: What are the top cyber security threats in Rwanda?
The academy will offer courses in various cybersecurity disciplines, including network hacking prevention, system configuration, and professional certifications such as the Cisco Certified Network Associate (CCNA) program.
Beyond training, the institution will provide audit services for ICT infrastructure to ensure that network configurations and security equipment meet international standards, minimizing risks of hacking or data breaches.
Additionally, the academy will contribute to policy development, focusing on aspects such as access control for ICT systems and secure server management.
Cybersecurity landscape in Rwanda
According to Rwanda's National Cybersecurity Strategy 2024-2029, the country's digital transformation comes with both opportunities and heightened cyber risks.
The strategy acknowledges that while artificial intelligence offers tools to enhance cybersecurity, it can also be exploited by cybercriminals.
The strategy also warns that as internet penetration continues to grow, Rwanda is likely to face an increase in cybercrime, including ransomware attacks, phishing scams, online fraud, and identity theft.
To address these challenges, the cybersecurity blueprint focuses on strengthening Rwanda's cybersecurity framework, improving risk management capabilities, securing critical infrastructure, embedding cybersecurity awareness in the national culture, and fostering international cooperation in cybersecurity efforts.
Read the original article on New Times.
South Africa: Long-Suffering Durban Residents Could Wait Years for End to Water Crisis
Finance Minister on Wednesday said construction of Mkhomazi Water Project, which includes a new dam, will only start in November 2027
Ngonyameni residents in Durban have been relying on eThekwini Municipality's water tankers for six years.
Residents told us the communal taps in the area have been dry late since 2019.
The municipality had said that the Mkhomazi Water Project, which includes the construction of a dam, is their long-term plan to address the water shortage. But it is only expected to be completed in 2032.
In the meantime, many people have resorted to getting water from a well. Those who can afford to, buy water when the municipal tankers don't come often enough.
Community members of Ngonyameni near Umlazi, Durban have been relying on eThekwini Municipality's water tankers for six years. But they told GroundUp the water supply has been inconsistent, leading to some people collecting water from a well which is about a 300 metre walk from their containers.
Residents told us the communal taps in the area have been dry late since 2019.
GroundUp reported on the community's battles for water more than a year ago. At the time, the DA in KwaZulu-Natal called for the Human Rights Commission to urgently investigate the ongoing water crisis in several communities under the eThekwini municipality.
The municipality had said that the Mkhomazi Water Project, which includes the construction of a dam, is their long-term plan to address the shortage. But it is only expected to be completed in 2032. The municipality said that the water tankers "provide emergency relief" in the short term.
During his budget speech on Wednesday, Finance Minister Enoch Godongwana announced an allocation of R156.3-billion for water and sanitation infrastructure projects. Among the projects mentioned was the Mkhomazi Project which he said "is expected to commence construction in November 2027, transferring water to the Mngeni Water Supply System. This will increase the total capacity of the system to 5-million households in eThekwini and four district municipalities in KwaZulu-Natal".
Ngonyameni is among many informal areas with fast-growing populations. Because the water projects are still a long way away, residents told us they have no choice but to use the "unhygienic" well.
We returned to the area this week and found pensioner Ayanda Cele and other residents collecting water from the well. She says most people use the well or buy water because the water tanks don't come often enough.
"We are living in one of the oldest villages under the eThekwini Municipality but we are still being ignored by the municipality," said Cele.
The DA's spokesperson in the metro, Thabani Ndlovu, accused municipal officials of ignoring the community's pleas for better water supply. "People of Durban should make sure that they remove the ruling [ANC] party in the local election in 2026 so they can enjoy good and proper service delivery from other political parties."
Wisani Baloyi, spokesperson for the Human Rights Commission, said they are aware of the water problems in the metro. He said the commission regularly meets with the municipality and other groups to discuss the crisis. "The Commission will continue to monitor the process of water being supplied by water tankers within eThekwini," said Baloyi.
UMngeni-uThukela Water is licensed to take 470,000-megalitres a year from the uMngeni Water Supply System to supply eThekwini and four other municipalities. The Department of Water and Sanitation has found that the entity abstracted more than its allowance in 2023.
In a joint statement by the Department, uMngeni-uThukela Water and eThekwini municipality two weeks ago, they stated that the root cause of the water supply disruptions is that current demand exceeds available treated water supply, owing to a combination of population growth and leaks in the municipality's water distribution systems.
"The City Council approved a water and sanitation turnaround strategy in April 2023, which is now under implementation. The strategy includes ringfencing revenue from the sale of water for the water function, reduction of non-revenue water (NRW), improving leak repair, and disconnection of illegal connections."
Read the original article on GroundUp.
Africa: The 'Biggest Trout Farm in Africa' and the Failed R5,000 Community Fund
A company which claims to be the biggest trout farm in Africa contributed only R5,000 to the community fund in the Katse Dam catchment area in the Lesotho Highlands.
In order to apply for a licence from the Lesotho Highlands Development Authority, SanLei Premium Trout had to show how local communities would benefit.
But the Catchment Resilience Fund initiative seems to have crumbled after less than a year.
Local farmers say the dam has changed conditions for the worse.
SanLei Premium Trout, which farms trout on Katse Dam in the Lesotho mountains, claims to have invested in projects to help the communities near the dam, whose livelihood is affected by overgrazing, soil erosion and changing weather. But the company, which describes itself as "the biggest trout farming operation in Africa", only contributed 5,000 Maloti (R5,000) to the Catchment Resilience Fund (CaRe Fund) in 2018 and the money was never used for environmental projects.
SanLei is owned by South Africa-based Mergence Asset Managers, through its Lesotho Private Equity Fund. The main investor in the Lesotho Private Equity Fund is Lesotho's Public Officers' Defined Contribution Pension Fund.
SanLei CEO Dewald Fourie was quoted in November last year as saying that the firm's current trout production was 1,000 tons a year and this was expected to double by 2030.
The construction of the dams, built to supply water to South Africa, has had major effects on local populations. Some farmers have been compensated for the loss of their land as a result of the dams. But others are battling soil erosion, overgrazing, the loss of plants, sand and firewood.
In its 2023 impact report, Mergence says the CaRe fund was set up to incentivise Khokhoba farmers to improve the management of the rangeland in the dam catchment area, which had been degraded.
"The partnership committee provides annual workplans, activity targets, and quarterly reports to SanLei, reflecting its financial, management, and monitoring records. The CaRe Fund money is used by the Khokhoba community to implement projects benefiting the community as a whole and supporting individual households. These benefits serve as meaningful incentives for the community to actively contribute to the catchment management activities under the CaRe Fund."
Part of the project was to restrict grazing in parts of the catchment area to prevent further soil erosion. Villagers were to be trained on how to preserve the grasslands, and rocks were to be painted white to indicate "no-go" areas for grazing.
But according to 'Malieketso Ramokoatsi, a member of the Khokhoba village committee, the CaRe funds were instead used to provide small loans to community members and build an office for the village chief. He said that the fund had collapsed despite its potential to benefit the village.
"Even the equipment for rangeland and wetland management was vandalised, and members were discouraged from continuing," she said.
SanLei compliance and environmental officer Relebohile Ntoi told GroundUp that the company had contributed M60,000 (R60,000) to the project. "The consultant got M50,000 for the training sessions, and the community got M10,000." She said the rangeland management project was mainly a USAID initiative.
"They only needed somebody to partner with who knows about these communities and could put up an incentive for the communities to do the project," she said.
Ntoi later acknowledged that only M5,000, not M10,000, had been paid to the community.
Ramokoatsi said what work had been done on climate change mitigation had been financed by USAID, not SanLei.
USAID funded the Lesotho Climate Change Adaptation Project, using Pietermaritzburg-based Institute of Natural Resources as consultants. But USAID withdrew in 2018 and the project came to an end.
"The Americans just disappeared, and the project collapsed," said village chief Molapo Khethisa.
Ntoi told GroundUp that the Lesotho Highlands Development Authority had proposed that SanLei "go back and revive the fund". "But for now we haven't really made plans to do it," she said.
The Lesotho Highlands Development Authority (LHDA) regulates activities in the dam catchment area. In terms of the law, applicants for a fishing licence on the dam have to "specify in detail how local communities surrounding the proposed aquaculture operations will stand to benefit".
GroundUp sent questions to the LHDA on 26 February asking whether SanLei"s contribution to the Khokhoba CaRe fund was part of its obligations as a requirement for the licence, and the role of the LHDA in holding the company accountable. Spokesperson Mpho Brown has yet to respond to these questions.
We also sent questions to Fourie, on 21 February, asking about SanLei's contribution to the CaRe fund and the role played by USAID. He promised to respond but did not. On 12 March he said he had forwarded our questions to SanLei's board.
Khokhoba resident 'Mamolapo Khethisa said the dam had changed conditions in the area. She said more frequent hailstorms swept away nutrient-rich soil into the dam and left behind stones and depleted particles. "These storms have become more frequent since the construction of the dam, resulting in the loss of crops and soil," she told GroundUp.
She also noted that frost now arrives as early as March instead of mid-April, destroying crops such as maize, sorghum and beans before they ripen or preventing them from bearing fruit, aggravating hunger in the community.
Read the original article on GroundUp.
Namibia Launches 25mw Solar Plant, Honouring Freedom Fighter, Advancing Energy Transition
I am delighted to join you this morning to launch the 25 megawatt Khan Solar PV Plant here at Usakos in honour of Moses Mague //Garoeb, a gallant patriot and staunch freedom fighter who dedicated his life to the cause of Namibia's independence.
Namibia's freedom fighters were driven by the desire not only to free Namibians from colonial apartheid bondage but to bring about economic development and transformation that would positively change the livelihoods of many economically disadvantaged Namibians. Thus, this power plant is an enduring symbol of how far we have come in ensuring the realisation of the vision of economic emancipation that comrades, such as Moses //Garoeb, stood for.
There is a global consensus that we each have a responsibility to safeguard our planet for the benefit of future generations. This consensus has culminated in the ratification of The Paris Agreement - a legally binding international treaty on climate change - to which Namibia is a party. Hence, under the Harambee Prosperity Plans one and two, Namibia has committed itself to energy transition from 100% reliance on fossil fuels towards renewables such as solar, wind and thermal energy. This strategic shift in energy utilisation is part of our contribution to reduce greenhouse emissions and achieve global carbon neutrality by 2050.
Within this context, today's launch of this 25 megawatt solar plant is a concrete step moving Namibia towards the fulfilment of the noble goal of decarbonisation. This is also in line with Namibia's quest for energy sufficiency, and the development of new economic sectors and industries, including green hydrogen and green industrialisation, which are geared towards local value addition and job creation.
At this juncture, let me state that there is no contradiction between Namibia's rationale to develop its newly discovered oil resource potential while pursuing the decarbonisation agenda. The emphasis is on energy transition, so that we gradually move towards the desired end goal of energy renewables, while simultaneously utilising oil resources as part of the energy mix.
To achieve energy sufficiency and efficiency, development of energy storage technologies that can make up for the intermittent nature of solar energy is essential. However, provision of solar energy must not come at high costs to consumers but should be affordable. It is, therefore, pertinent that we ensure during the energy transition that no one should be left behind. The 18 500 beneficiaries of the Khan Solar Substation are a testament to this commitment.
I understand that the 25 megawatt Khan Solar PV Plant, a joint venture between Alpha Namibia Industries Renewable Energy Power (Anirep) and Aussenkehr Energy Investment, valued at N$360 million is one of Namibia's largest private sector investments in the renewable energy sector. It is pleasing to note the commitment from the private sector to partner with the government in the realisation of our objective for energy sufficiency and accessibility. I am also informed that during the construction of this project about 200 direct temporary jobs were created at Usakos and expenditures made which supported various businesses such as retail outlets, guesthouses, fuel stations, catering and security in the town.
It is my firm conviction that this development can be a catalyst for future business investments and expansions in the town of Usakos and surrounding areas, leading to substantial economic development, job creation and poverty eradication.
In conclusion, I would like to commend Anirep and partners, the Usakos Town Council and its' mayor, as well as both the indigenous and foreign investors, the Namibia Power Corporation and the line Ministry of Mines and Energy for their excellent teamwork which ensured that the project not only successfully weathered the negative economic impact of the Covid-19 pandemic, but continued until completion.
We commend you for your dedication to economic growth and development in Namibia and wish this substantial investment a resounding success. May it stand as a symbol of Namibia's economic recovery and growth for the prosperity of all Namibians in honour of the valiant heroes and heroines such as Moses //Garoeb, who fought for a free and independent Namibia.
With these many words, it is my distinct honour to declare the 25 megawatt Khan Solar PV Plant officially launched.
I thank you.
Nigeria: Zamfara Collaborates With Chinese Firms to Boost Security, Agriculture, Transport, Mining Sectors
Zamfara State government has entered into partnership with Chinese firms to secure advanced surveillance technology and enhance the state's agriculture, transportation and mining sectors
A Government House statement explained that the development is part of fallout of Governor Dauda Lawal's recent working visit to China where his delegation engaged with Zhong Zhao International Group, Phoenix Wings, Shenzhen HighGreat Innovation Technology Development Co. Ltd and Xiamen Magnetic North Technology Co. Ltd, for collaboration in key sectors of the Zamfara economy.
The statement on Wednesday signed by the Governor's spokesperson, Sulaiman Bala Idris, said that a group of Chinese industrialists were at the Government House Gusau, "as a follow-up to the engagement in China.
"Mr. Tang Zhangwei led a group of companies to Zamfara State to foster bilateral collaboration in critical sectors to drive economic growth."
According to the Governor, "I want to welcome you to Zamfara State. In February, I led a delegation to China to meet with companies in various sectors and explore what they had to offer. It was a very intensive trip.
"We partnered with Zhong Zhao International Group, which specializes in organic fertilizer and mechanized farming. They focus on producing organic fertilizers and health technology R&D. We signed a memorandum of understanding (MoU) to train local farmers in organic farming practices, using advanced machinery and technology transfer to establish organic fertilizer plants in Zamfara State.
"The Zamfara delegation partnered with Phoenix Wings, a Chinese firm specializing in security surveillance technology, including drones. "Together, they will develop strategies to deploy advanced systems addressing banditry, kidnapping, and security challenges in Zamfara State.
"In our meeting with the Shenzhen HighGreat Innovation Technology Development Co., Ltd, we discussed Innovation, Robotics, and Drone Display Technology.
"We engaged Xiamen Magnetic North Technology Co., Ltd. and Xiamen King Long United Automobile Industry Co., Ltd. Proposals were made to develop modern transport hubs and introduce mass transit systems to improve mobility within and outside the state.
"Additionally, we held a successful meeting with WEICAI LOVOL International Trading Company, which focuses on Smart Agriculture, Integrated Management Platforms, and Tractors.
"The Zamfara delegation met with the Tibet Ming Company to discuss increased investment in mining, emphasizing sustainable practices, social responsibility, and modern technology to enhance mineral exploration in Zamfara State."
Earlier, the Secretary to the Zamfara State Government, Mallam Abubakar Nakwada, who was part of the state's delegation to China, highlighted the achievements of their working visit.
He said: "We had a very productive working visit to China and the outcome is evident today with the arrival of a high-level group of companies in Zamfara State."
Read the original article on This Day.
Top Democrat Schumer backs Republican spending bill to avert shutdown
The US may avert a looming government shutdown after a top Democrat said he would support a Republican funding bill to keep it open.
Senate Minority Leader Chuck Schumer announced his reversal on Thursday, after vowing he and other Democrats would block the bill, which would fund the government through September.
It is possible a handful of other Democrats might now elect to vote to approve the measure, though it remains unclear.
Democrats face two options: Help Republicans pass the bill or stand their ground and oppose it. If they oppose the bill, it is likely they would take the brunt of the blame for the shutdown, which would start at 23:59 ET on Friday.
"There are no winners in a government shutdown," Schumer said in his announcement on the Senate floor.
"It's not really a decision, it's a Hobson's choice: Either proceed with the bill before us or risk Donald Trump throwing America into the chaos of a shutdown.
"This in my view is no choice at all."
He called the Republican-led funding bill deeply partisan but voiced concerns about a shutdown.
He said it would give Trump and Elon Musk, who have been leading an effort to slash federal spending, a "carte blanche to destroy vital government services at a significantly faster rate than they can right now".
Votes on the measure are expected on Friday afternoon.
Although Democrats are in the minority in the Senate, they have a procedural ace in the hole. Senate rules require 60 votes out its 100-member chamber to pass most legislation.
So while the 47 Democrats and left-leaning independents don't have the numbers to approve their own funding bill, they can block the Republican measure if they mostly stick together.
That's exactly the course many liberals, desperate for Democrats to take a more forceful stand against the Trump administration, have insisted the party pursue.
The political brinksmanship has its risks.
Some conservatives would relish a government shutdown that suspends programmes and services they see as wasteful or counterproductive. Musk himself has said that such a scenario would help his team better identify "non-essential" government functions that they could then permanently end as part of his Department of Government Efficiency.
Republicans would also be quick to blame any shutdown, and the disruptions it causes, on the Democrats. And an extended shutdown would directly affect the very workers and programmes that Democrats are trying to protect.
On Wednesday, the Republican-controlled House of Representatives passed the bill that keeps the lights on through September – with strings attached.
The new resolution boosts military spending by $6bn (£4.6bn) over current levels, while slashing $13bn from non-defence programmes and allowing more money for border enforcement.
It also contains a provision that makes it harder for Democrats to force a vote on rescinding Trump's tariffs on Canada, Mexico and China.
Many Democrats have said they would not support the House resolution and demanded the ability to modify it.-BBC
UK economy shrank unexpectedly in January
The UK economy shrank unexpectedly by 0.1% in January, with a slowdown in manufacturing one of the main reasons for the dip.
The performance was weaker than expected, and came after the economy had grown by 0.4% in December.
It will be seen as a blow to the government, which has said its number one priority is to boost UK economic growth.
The figures come ahead of the chancellor's Spring Statement, which is expected to include government spending cuts.
Liz McKeown, ONS director of economic statistics, said: "The economy shrank a little in January but grew in the latest three months as a whole, with the overall picture continuing to be of weak growth."
Construction and oil and gas extraction had a "weak month", she said.
But this was partially offset by retail, particularly food shops, "as people ate and drank at home more", she said.
Although growth was down for the month in January, monthly readings can be volatile and the ONS said the economy was estimated to have grown by 0.2% over the three months to January.
Bar chart showing the estimated monthly GDP growth of the UK economy, from January 2023 to January 2025. The figures are as follows: Jan 2023 (0.3%), Feb 2023 (0.4%), Mar 2023 (-0.3%), Apr 2023 (0.1%), May 2023 (-0.4%), Jun 2023 (0.7%), Jul 2023 (-0.5%), Aug 2023 (0.0%), Sep 2023 (0.0%), Oct 2023 (-0.4%), Nov 2023 (0.2%), Dec 2023 (0.0%), Jan 2024 (0.4%), Feb 2024 (0.2%), Mar 2024 (0.5%), Apr 2024 (-0.1%), May 2024 (0.3%), Jun 2024 (-0.2%), Jul 2024 (-0.1%), Aug 2024 (0.2%), Sep 2024 (-0.1%), Oct 2024 (-0.1%), Nov 2024 (0.1%), Dec 2024 (0.4%), Jan 2025 (-0.1%).
Chancellor Rachel Reeves said: "The world has changed and across the globe we are feeling the consequences."
She added the government is "going further and faster" to "kickstart economic growth".
Yael Selfin, chief economist at KPMG UK, said the UK economy had started the year "on the back foot" as uncertainty about Trump tariffs was making businesses cautious about investment.
She said predictions of "sluggish growth" means Reeves will probably "tighten purse strings" in the Spring Statement.
The recent cut to UK aid to fund an increase in defence spending "is a preview that some departments will see their spending plans squeezed", she added.
What will be in the chancellor's Spring Statement?
Bank cuts interest rates and slashes growth forecast
Anna Leach, chief economist at the Institute of Directors, said a slight rise or fall in one month was not significant, but the important point was the economy overall is "quite weak and therefore quite vulnerable".
Car manufacturers in particular have "notable weaknesses" with trade uncertainty from Trump tariffs, and "chopping and changing in the targets of the adoption of electric vehicles".
She said the UK growth figures "certainly won't help" in the lead up to the Spring Statement, when the independent forecaster the Office for Budget Responsibility is likely to downgrade its growth prediction.
Last month, the Bank of England halved its growth forecast for the UK this year.-BBC
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