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Nigerian Government Signs $1bn Iron Ore Deal With China
Manage episode 439522098 series 3174974
Africa Business Radio에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Africa Business Radio 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
The Federal Government has signed a $1bn iron ore steel deal project with China. The Minister of Solid Minerals Development Dr Oladele Alake, said the deal was signed for Kogi State as a breakthrough in the Federal Government’s campaign to make local value addition the development model in the solid minerals sector. He says the Federal Government has reversed the pit-to-port policy under which mining companies exported raw minerals to extraction with local value addition which is the best guarantee of jobs for the youths, skills transfer and better trade balance between the country and her trading partners. He noted that to promote local value addition, he has announced that applicants for licences to mine must disclose plans for processing the raw minerals as part of the conditions for approval.
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1000 에피소드
Manage episode 439522098 series 3174974
Africa Business Radio에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Africa Business Radio 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
The Federal Government has signed a $1bn iron ore steel deal project with China. The Minister of Solid Minerals Development Dr Oladele Alake, said the deal was signed for Kogi State as a breakthrough in the Federal Government’s campaign to make local value addition the development model in the solid minerals sector. He says the Federal Government has reversed the pit-to-port policy under which mining companies exported raw minerals to extraction with local value addition which is the best guarantee of jobs for the youths, skills transfer and better trade balance between the country and her trading partners. He noted that to promote local value addition, he has announced that applicants for licences to mine must disclose plans for processing the raw minerals as part of the conditions for approval.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
…
continue reading
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
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Africa Business News
European foreign ministers have agreed to meet at the end of January to discuss lifting sanctions on Syria as foreign ministers and top diplomats from Western countries and the Middle East convened in Saudi Arabia in the first such regional meeting since the fall of President Bashar al-Assad last month. Kaja Kallas, the European Union’s foreign policy chief, says that the foreign ministers would convene in Brussels on January 27 to probe how the 27-member bloc might approach the issue. Saudi Arabia’s foreign minister called for the lifting of sanctions on Syria while stressing the importance of lifting unilateral and international sanctions imposed on Syria, as their continuation hinders the aspirations of the Syrian people to achieve development and reconstruction. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 Egypt’s Inflation Decelerates For The Second Consecutive Month 1:10
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1:10The country’s headline inflation for December 2024 slowed to about 24.1%, down from 25.1% in November. December’s figure was the lowest since 2022. The latest inflation rate has raised hopes of the first interest rate cut since 2022. The Central Bank of Egypt has held its interest rates since March 2024. The Egyptian government also agreed to cost-cutting measures, including the gradual removal of fuel subsidies and divestment from state-owned enterprises. The government recently sold 30% of its stake in state-owned United Bank. The IMF signed an $8 billion loan deal with the government in 2024, with the country on track for the disbursement of a $1.2 billion tranche of the loan. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
Nigeria’s justice ministry says close to $53m in alleged illicit funds recovered from Nigeria's former oil minister Diezani Alison-Madueke will be used to fund public services. The money is being sent back to Nigeria from the US, whose authorities allege that Alison-Madueke enriched herself, and others, while leading Nigeria's state oil firm by awarding contracts in exchange for bribes. The US alleged that the money was then used to buy a 65-metre superyacht called the Galactica Star plus multiple luxury properties in California and New York. Alison-Madueke, 64, has always denied all allegations of wrongdoing. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
The President of the African Development Bank, Dr Akinwumi Adesina, says Nigeria has secured $7.6bn in investment interests at the Africa Investment Forum 2024, which took place in Rabat, Morocco, from December 4 to 6, 2024. He expressed optimism about the potential impact of the investment interests, highlighting the presence of several Nigerian state governors at the forum The forum facilitated $29.2bn in total investment interests for various African projects, ranging from energy and infrastructure to agriculture and technology. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 Nigerian Government Approves Four Airlines For 2025 Hajj Operations 1:18
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1:18The Federal Government has approved four airlines as official air carriers for pilgrims of the 2025 Hajj. The Executive Chairman, of the National Hajj Commission of Nigeria, Prof. Abdullahi Usman says the four airlines were selected out of the 11 companies that submitted applications to transport Nigerian pilgrims to Saudi Arabia for Muslim pilgrimage. He says the four approved airlines are Air Peace Ltd., Fly-Nas, a Saudi Arabia-designated airline, Max Air, and UMZA Aviation Services Ltd. He stated that the airlines were screened and shortlisted by a team of 32 members that the NAHCON inaugurated on Nov. 26, 2024. Usman explained that the composition of the Aviation Screening Committee included representatives from State Pilgrims’ Welfare Boards, three members from the Nigerian Civil Aviation Authority and one member each from the Federal Airports Authority of Nigeria. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 Syria’s Foreign Minister Urges US To Lift Sanctions During Visit To Qatar 1:00
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1:00Syria’s new Foreign Minister Asaad Hassan al-Shaibani has called on the United States to lift crippling sanctions on his country, as he visited Qatar as part of a regional trip to seek support after the fall of Bashar al-Assad. He says these sanctions constitute a barrier and an obstacle to the rapid recovery and development of the Syrian people who await services and partnerships from other countries. Qatar’s Foreign Ministry says that the Gulf country’s premier also met with Syria’s Defence Minister Murhaf Abu Qasra and the new head of intelligence Anas Khattab, as well as al-Shaibani. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
Somalia's foreign minister says the diplomatic dispute between Ethiopia and Somalia that had led to tense regional relations has been resolved. Ahmed Moalim Fiqi's says Somalia had made no concessions. Ethiopia has not commented on the Somali claim, but said the two countries had agreed to "strengthen bilateral relations". Ethiopia has thousands of troops stationed in Somalia which are not part of the AU force and it has not been clear what role they will play in the future. Somalia's foreign ministry also said the country had expressed its willingness to consider Ethiopia's request to contribute forces to the mission. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
Outgoing President Nana Akufo-Addo says All African passport holders are now able to visit Ghana without needing a visa. He announced the plan last month but in his final state-of-the-nation address he said that the policy had come into effect at the beginning of the year. Visa-free travel within the continent has long been an aspiration for those promoting pan-African values and is seen as vital for economic cooperation. Ghana is now the fifth African country to offer this to travellers from the rest of the continent after Rwanda, Seychelles, The Gambia and Benin. He says this is the logical next step to the African Continental Free Trade Area and the workings of the largest trading bloc in the world Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 Nigeria Government Raises Group Assurance Allocation To N17.31bn 1:10
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1:10The Federal Government has increased the allocation to group life assurance by 80 per cent in the proposed Appropriation Bill for 2025. The Minister of Information and National Orientation, Mohammed Idris, revealed that the N9.6bn was for 12 local insurance firms to cover the federal workers in case of unforeseen eventualities in the course of their duties. N17.31bn was allocated to group life assurance for all MDAs (including the Department of State Services/insurance of sensitive assets/members of the National Youth Service Corps, plus administration & monitoring). The policy, which ensures that dependents of a deceased employee receive three times his total annual emolument, was meant to cushion the effect of death on a deceased worker’s family. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 Nigerian Military Considers Engaging Locally Fabricated Arms Manufacturers 1:01
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1:01The military has expressed determination to explore ways to harness the skills of law-abiding citizens engaged in the local production of firearms and military-grade equipment even as it is committed to putting an end to the production and circulation of illegal arms in the country. Chief of Defence Staff, General Christopher Musa, reiterated that additional resources, including advanced weaponry, vehicles, and welfare improvements were on the way to enhance their operational capabilities further. General Musa emphasized the importance of professionalism, discipline, and respect for human rights in military operations. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 Malawi Seeks Billions Of Dollars From US Firm Over Ruby Sales 1:06
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1:06Malawi's government is demanding the astonishing sum of $309bn in unpaid taxes and royalties from a US-based gemstone company for rubies exported from the southern African state over the last 10 years. Columbia Gem House, a family-owned business which says that it upholds fair trade practices, dismissed the claim as "baseless and defamatory". Attorney General Thabo Chakaka Nyirenda says the government is also demanding $4bn from French gas giant TotalEnergies in unpaid revenue from an oil storage deal, and $9.5m from Turkish tobacco firm Star Agritech. Nyirenda says the amount is not just for one year but goes over 10 years back which also includes the interest. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
The net foreign exchange inflow to the Nigerian economy in the third quarter of the year decreased by 2.97 per cent to $14.46bn from $14.89bn in the preceding quarter. The Central Bank of Nigeria in its third-quarter economic report reports that on a quarter-on-quarter basis, net foreign exchange in the third quarter decreased by 2.97 per cent however compared to the third quarter of 2023, net foreign inflow had increased by 75.91 per cent from $8.22bn to $14.46bn. In Q3, foreign exchange inflow increased by 3.01 per cent to $22.89bn from $22.22bn in Q2 2024. Also, inflows through official sources increased in Q3 as those of autonomous sources declined. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, revealed that diaspora remittances processed through International Money Transfer Operators between January and October 2024 reached $4.22bn. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 Nigerian Government Lifts Ban On Mining In Zamfara After Five Years 0:58
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0:58The Federal Government lifted the ban on mining activities in Zamfara State five years later. The Minister of Solid Minerals Development, Dele Alake, stated that Nigeria has much to gain from reawakened economic activities in a highly mineralised state like Zamfara imbued with vast gold, Lithium, and copper belts. The minister explained that the previous ban, which was well-intentioned, inadvertently created a vacuum exploited by illegal miners to fleece the nation of its resources. He also emphasized that the state’s potential for contributing to national revenue is enormous. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
South Korea's constitutional court has begun trial proceedings for the impeachment of President Yoon Suk Yeol, who was suspended for declaring martial law and plunging his country into political turmoil. The court now has six months to decide whether to remove Yoon or reinstate him. Yoon's ruling People Power Party (PPP) has been grappling with the fallout ever since, with its leader announcing his resignation. While public hearings for Yoon's impeachment trial could take months, the court is under pressure to decide quickly and bring an end to political uncertainty. Protesters have vowed to keep up their calls for Yoon's removal during court proceedings. The court says it could run Yoon's trial with just six judges, and set a preliminary hearing date for 27 December. If the court upholds impeachment in Yoon's case, the country must hold fresh presidential elections within 60 days. In the meantime, Prime Minister Han Duck-soo is serving as acting president. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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Africa Business News
1 West African Military States Promise Visa-free Travel To Rival Bloc 1:04
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1:04Three West African states ruled by military leaders have announced visa-free travel and residency rights for citizens in the 15-member regional bloc Ecowas, ahead of the trio leaving the group. The leaders of the states - Burkina Faso, Mali and Niger - said the visa and residency decision had been taken in the spirit of friendship, and to strengthen centuries-old ties among African people. The trio plan to withdraw from Ecowas in January after refusing the bloc's demand to restore democratic rule. Ecowas leaders are meeting in Nigeria to discuss the decision, with fears their withdrawal would be a major blow to regional unity and efforts to boost economic and security cooperation. Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support .…
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