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FG Owes Five Countries $4.85bn
Data from the external loans reports obtained from the Debt Management Office has shown that the Federal Government of Nigeria borrowed about $3.27 billion from five countries between June 30, 2015 and September 30, 2022. DMO said that within the period, Nigeria’s borrowings from the five countries rose by 206.96 per cent from $1.58bn in…
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China Re-enforce Oil Trade Deal With Saudi Arabia In 2022
China has moved to deepen its relationship with OPEC+ heavyweight Saudi Arabia, the country’s top oil supplier for the past few years. The world’s biggest energy consumer and Saudi Arabia pledged to deepen their relationship in trade and economic cooperation through bilateral talks on Thursday, 9, December 2022. The two parties would explore common investment opportunities in…
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Twitter Removes 3,500 State-Sponsored Propaganda Accounts
Twitter has reportedly removed 3,465 accounts used for “state-backed information operations” linked to six countries: China, Mexico, Russia, Tanzania, Uganda and Venezuela. 2,048 of the total accounts deleted were linked to a Chinese Communist Party, reporting the treatment of Uighurs in Xinjiang province, according to a statement published on Thursday. Another 112 removed accounts were…
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Aluminium Prices Surges To A 10-Year High As Conflict In Guinea Grows
Aluminium prices have climbed to the highest in more than a decade as political unrest in Guinea fuels concerns over the supply of raw material needed to make the metal. On Monday, prices of aluminium in London notched a fresh 10-year high and futures in China climbed to the highest since 2006 following a coup…
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Nigeria Borrowed $2.02bn Loan From China In 6 Years
Under the Buhari’s administration, Nigeria has secured $2.02bn as loans from China in six years. This is according to data obtained from the Debt Management Office, which showed that Nigeria’s total debt from China as of June 30, 2015 stood at $1.38 billion. Meanwhile, as of March 31, the country’s debt portfolio from China had…
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The US Records 1.9% Rise In Trade Deficit Despite Trade War With China
The Biden’s administration has recorded a commendable win as new reports details the record-breaking rise in goods importation in January that pushed the trade deficit 1.9 percent higher despite Covid-19. The gap between imported goods and exported goods rose to $68.2bn from $67bn in December, the US Department of Commerce reported Friday. Exports rose 1…