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AfDB Signs $75m Loan Agreement to Boost Indorama’s Fertilizer Production, Export Capacity

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The African Development Bank (AfDB), has signed a 75 million dollar loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited.

The bank announced this in a statement issued on its website late Thursday.

According to the statement, the loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports.

The statement also said that the loan would help in supporting food production and food security across regional and international markets while fostering job creation in Nigeria.

It said that the expansion would include the development of a third urea fertilizer production line and a new shipping terminal at Indorama’s facilities in Port Harcourt.

“The new production line is expected to have an annual capacity of 1.4 million metric tons of urea, one of the most widely used fertilizer worldwide.

“Indorama’s two operational urea fertilizer lines serve Nigeria’s domestic market.

“It supports the country’s agricultural sector, which accounts for a quarter of its Gross Domestic Product (GDP) and employs about a third of its labour force.

“The new production line and terminal, which will help meet growing global demand for fertilizer, is expected to create up to 8,000 direct and indirect jobs in Nigeria”, the statement said.

The statement also quoted the Acting Director of Industrial and Trade Development Department, AfDB, Ousmane Fall, as commending the partnership.

Fall said the bank was proud of its continued partnership with Indorama, the IFC, and other lenders on this critical project.

He said the partnership aligned with the bank’s strategic priorities to Feed  and industrialise Africa, while generating significant development outcomes in Nigeria.

Meanwhile, Manish Mundra, Group Director for Africa, Indorama Corporation said the establishment of the fertilizer plant underscored Indorama’s unwavering commitment to Nigeria’s industrial growth, economic diversification, and leveraging its strategic geographic location.

“This landmark financing represents a pivotal moment in Nigeria’s journey towards becoming a major player in the global fertilizer market.

“With this third line, Nigeria is prepared to significantly ramp up its export capacity, thereby, enhancing its position as a key exporter of fertilizer to Africa and the world.

“Furthermore, the establishment of this fertilizer plant will not only address critical issues such as broader food security but will also stimulate agricultural growth and create employment opportunities in Nigeria,” he said.

Reports says that the AfDB’s loan follows a strategy to support investment in private sector development to promote the growth of the real sector.

The 75 million dolllars loan is part of a 1.25 billion dollars facility arranged by IFC.

The financing package includes a 215.5 million dollars loan from IFC’s own account, a 94.5 million dollars loan through the Managed Co-Lending Portfolio Programme (MCPP), and 940 million dollars in parallel loans mobilised from other development finance institutions and commercial banks.

Some of the banks include the AfDB, Bangkok Bank, British International Investment, Citibank, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), DZ Bank, Emerging Africa Infrastructure Fund (EAIF) and Rand Merchant Bank.

Others are Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Export-Import Bank of India (India Exim Bank) and Export-Import Bank of Korea (KEXIM).

The Standard Bank Group, Standard Chartered Bank, and the United States International Development Finance Corporation (DFC) are also part of the banks.(NAN)

Foreign News

U.S Will Start Revoking Visas for Chinese Students

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The United States says it will begin revoking visas of Chinese students and tighten screening for future applicants from China and Hong Kong, the US State Department said on Thursday.

“The U.S. will begin revoking visas of Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields,” US Secretary of State Marco Rubio said on social media platform X.

In a press release, the State Department stated that it would also revise visa criteria to enhance scrutiny of all future visa applications from the People’s Republic of China and Hong Kong.

It was not immediately clear how many students currently in the United States would be affected or whether any exemptions would apply.

According to the Institute of International Education (IIE), about 277,000 Chinese students were enrolled at U.S. universities during the 2023-2024 academic years, making them the second-largest group of international students after those from India.

The U.S. already applies strict visa rules for Chinese nationals in certain academic disciplines, particularly in science and technology.

China’s Foreign Office said it filed a complaint against the unjustified step.

Washington’s discriminatory actions expose the lie of freedom and openness that the U.S. has always boasted about, said spokeswoman Mao Ning in Beijing.

The new measures come amid reports that the State Department has halted new visa interviews for international students and exchange visitors while it reviews screening procedures, including expanded checks on social media activity.

The pause reportedly affects F, M and J visa categories, including those for students, interns and au pairs, with further instructions expected in the coming days.

However, relations between Washington and Beijing have deteriorated further since U.S President Donald Trump took office in January.

The two economic powers are engaged in a deepening trade dispute and competing for global influence across multiple fronts.(dpa/NAN)

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Education

How female Medicine Degree Holder Abandoned Certificate for Carpentry- Bugaje

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The Executive Secretary, National Board for Technical Education (NBTE), Prof. Idris Bugaje has expressed the need to promote inclusivity, especially for women and persons with disabilities in technical education.

Bugaje stated this in Abuja while assessing the impact of President Bola Tinubu’s administration after two years in office.

He appealed for greater gender inclusivity in vocational and technical education, stressing that deliberate policies such as scholarships and incentives could help bridge the gender gap.

In support of his position, Bugaje shared an inspiring story of a female medical doctor who abandoned her medical career to pursue carpentry.

“There is a story I want to share with you, about a girl who was interested in becoming a carpenter.

“The father was a carpenter and they were four children in the family, three boys and herself.

“Whenever she joined the boys to the workshop, the father would send her away, saying, `you are a girl, go back to the house, you are not supposed to be a carpenter’’.

“Without giving considerations to the passion of the young girl, the father sent her to a medical school.

“She graduated with the MBBS, went and did the one-year internship after graduation, and chose a role as a medical doctor.

“After that, she came back to the father, returned the MBBS certificate to him, and thanked him.

“Afterward, she told the father that her passion is in carpentry, not to practice as medical doctor,” Bugaje narrated

He added that after spending seven years on medical training, the father had no option but to send her to Turkey to learn how to make furniture.

Addressing cultural and societal barriers often faced by young women in technical fields, Bugaje appealed to parents to support their daughters’ interests in trades like plumbing, electrical installation, and carpentry.

He also called on policymakers to prioritise passion and skill development among youth, especially girls, noting that such encouragement could lead to greater innovation and self-reliance.

“If they want to become carpenters, ICT experts, or POP artists, allow them.

“In skills’ training, passion is very important. That’s what motivates children and helps them innovate.

“We need to harness these innovations if the country is to move forward and rise beyond being a third-world nation,” he said.

He emphasized the need to have deliberate policies to encourage women to come into TVET through scholarships and other incentives. (NAN)

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Education

WAEC Apologies for Conducting English Exam Late, Cites Leakage  Prevention

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The West African Examinations Council (WAEC) has apologized for delay in conducting  English Language Paper 2 in the ongoing 2025 West African Senior School Certificate Examination (WASSCE).

 The took place on Wednesday evening.

In a statement by Moyosola Adesina, Acting Head of Public Affairs Department of
WAEC, the council said that it encountered challenges.

”While maintaining the integrity and security of our examination, we faced considerable challenges primarily due to our major aim of preventing leakage of any paper.

“We recognise the importance of timely conduct of examinations and the impact of this decision on candidates, their schools and parents, and we sincerely apologise for any inconveniences caused,” WAEC stated.

It said that it successfully achieved its objective but it inadvertently impacted the timeliness and seamless conduct of the examination.

“In spite of our best efforts, we encountered logistical hurdles, security concerns and socio-cultural factors that negatively influenced our operations,” WAEC said.

The council re-affirmed its commitment to upholding the highest standard in examination conduct, and pledged to continue to promote academic excellence. (NAN)

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